- --------------------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
------------------
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) September 23, 1999
ALTEX INDUSTRIES, INC.
(Exact Name of Registrant as Specified in Charter)
Delaware 1-9030 84-0989164
- ---------------------------- ------------ ----------------------------
(State or Other Jurisdiction (Commission (IRS Employer Identification
of Incorporation) File Number) No.)
POB 1057 Breckenridge CO 80424-1057
---------------------------------------- ----------
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (970) 453-6641
- --------------------------------------------------------------------------------
<PAGE>
ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT
On September 23, 1999, the Registrant's Board of Directors approved the
recommendation of the Audit Committee of the Company's Board of Directors and
engaged Higgins, Meritt & Burdick as the Registrant's principal accountant,
effectively terminating the Registrant's relationship with KPMG LLP ("KPMG")
which had been the Registrant's principal accountant. KPMG's reports on the
Registrant's financial statements for the years ended September 30, 1997 and
1998, did not contain any adverse opinion or disclaimer of opinion, nor were
they modified as to uncertainty, audit scope, or accounting principles. In
connection with the audits of the two fiscal years ended September 30, 1997 and
1998, and the subsequent interim period through September 23, 1999, there were
no disagreements with KPMG on any matter of accounting principles or practices,
financial statement disclosure, or auditing scope or procedures, which
disagreements if not resolved to KPMG's satisfaction would have caused KPMG to
make reference in connection with KPMG's opinion to the subject matter of the
disagreement.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
ALTEX INDUSTRIES, INC.
Date: September 30, 1999 By: /s/ STEVEN H. CARDIN
------------------------
Steven H. Cardin
President
<PAGE>
EXHIBIT INDEX
16 Letter on change in certifying accountant
EXHIBIT 16 - LETTER ON CHANGE IN CERTIFYING ACCOUNTANT
September 30, 1999
Securities and Exchange Commission
Washington, D.C. 20549
Ladies and Gentlemen:
We were previously principal accountants for Altex Industries, Inc. and, under
the date of November 3, 1998, we reported on the financial statements of Altex
Industries, Inc. as of and for the years ended September 30, 1998 and 1997. On
September 23, 1999, our appointment as principal accountants was terminated. We
have read Altex Industries, Inc.'s statements included under Item 4 of its Form
8-K dated September 28, 1999, and we agree with such statements, except that we
are not in a position to agree or disagree with the Company's statement that the
change was recommended by the Audit Committee of the Board of Directors.
Very truly yours,
KPMG LLP
<PAGE>
