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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 December 3, 1999
VERTEX INDUSTRIES, INC.
(Exact name of registrant as specified in its charter)
New Jersey 0-15066 22-2050350
(State or Other Jurisdiction Commission File Number) (I.R.S. Identification No.)
of Incorporation)
23 Carol Street
PO Box 996
Clifton, New Jersey 07014
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code:
(973)777-3500
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Item 4. Changes in Registrant's Certifying Accountant
(a) On November 30, 1999 the registrant and Sax, Macy, Fromm &
Co., P.C.("Sax, Macy") mutually agreed to cease the client auditor
relationship. Sax, Macy's report upon registrant's financial
statements for its fiscal years ended July 31, 1999 and 1998 did
not contain an adverse opinion or a disclaimer of opinion, nor
was such report qualified or modified as to uncertainty, audit
scope or accounting principles. During registrant's fiscal years
ended July 31, 1999 and July 31, 1998, and the interim period
from August 1, 1999 to November 30, 1999 (the "Interim Period"):
(i) there were no disagreements (of the nature contemplated by
Item 304 (a) (1) (iv) of Regulation S-K) between registrant and
Sax, Macy and (ii) there were no reportable events of the nature
contemplated by Item 304 (a)(1) (v)(A)-(D) of Regulation S-K.
(b) On November 30, 1999, registrant engaged Ernst & Young, LLP
as its independent auditors for registrant's new fiscal year ending
September 30, 1999 (See Item 8 below). The registrant's Audit
Committee approved the appointment of Ernst & Young LLP as the
registrant's auditors through the distribution of the Ernst &
Young LLP engagement letter to the members of the Committee.
During registrant's two fiscal years ended July 31, 1999 and July
31, 1998 and the Interim Period, registrant did not consult Ernst
& Young LLP with respect to any of the matters contemplated by
Item 304 (a)(2)(i)-(ii) of Regulation S-K.
Item 7. Financial Statements and Exhibits
(a) Financial Statements of Business Acquired
Not applicable.
(b) Pro Forma Financial Information
Not applicable.
(c) Exhibits
(16) December 2, 1999 letter from Sax, Macy, Fromm & Co., P.C.
December 3, 1999 letter from Sax, Macy, Fromm & Co., P.C.
Item 8. Change of Fiscal Year
On October 27, 1999 the Board of Directors determined to
change the fiscal year of the registrant from year end July 31 to
year end September 30. Form 10-K shall be filed covering the
transition period.
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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.
VERTEX INDUSTRIES, INC.
Registrant
/s/ Nicholas R.H. Toms
BY Nicholas R.H. Toms
Chief Executive Officer
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December 3, 1999
EXHIBIT INDEX
Exhibit No. Description Page
16 Letters from Sax, Macy, Fromm & Co., P.C. 5 - 6
December 2, 1999
Mr. Ronald C. Byer
President/Treasurer
Vertex Industries, Inc.
23 Carol Street
Clifton, NJ 07014
Dear Ron:
This is to confirm that the client-auditor relationship between
Vertex Industries, Inc. (Commission File Number 0-15066), and Sax
Macy Fromm & Co., PC has ceased.
Sincerely,
/s/Sax Macy From & Co., PC
SAX MACY FROMM & CO., PC
/lr
cc: Office of the Chief Accountant
SECPS Letter File
Securities and Exchange Commission
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December 3, 1999
Securities and Exchange Commission
Washington, DC 20549
Re: Vertex Industries, Inc.
Gentlemen:
We were previously the independent accountants for Vertex
Industries, Inc., and on September 16, 1999, we reported on the
financial statements of Vertex Industries, Inc. as of and for the
years ended July 31, 1998 and 1999. On November 30, 1999, we were
dismissed as independent accountants of Vertex Industries, Inc.
We have read Vertex Industries, Inc.'s statements included under
Item 4 of its Form 8-K dated December 3, 1999, and we agree with
such statements.
Very truly yours,
/s/Sax Macy From & Co., PC
SAX MACY FROMM & CO., PC
/lr
