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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20509
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act
February 9, 1999
Date of Report
(Date of Earliest Event Reported)
WORLD INTERNETWORKS, INC.
(Exact Name of Registrant as Specified in its Charter)
Nevada 033-05844-NY 87-0575839
(State or other juris- (Commission File No.) (IRS Employer
diction of incorporation) I.D. No.)
418 South Commerce Road Suite #422
Orem, Utah 84058
(Address of Principal Executive Offices)
(801) 434-7517
Registrant's Telephone Number
Item 4. Changes in Registrant's Certifying Accountant.
Grant Thornton LLP, Certified Public Accountants, of Provo, Utah,
audited the financial statements of the Registrant for the fiscal year ended
February 28, 1998; these financial statements accompanied the Registrant's 10-
KSB Annual Report for the year ended February 28, 1998, which was previously
filed with the Securities and Exchange Commission, and which is incorporated
herein by reference.
On February 9, 1999, Grant Thornton LLP resigned as the
Registrant's certifying accountant. The Registrant has not yet engaged an
accounting firm to audit its financial statements for the fiscal year ended
February 28, 1999, but anticipates doing so in the near future.
There were no disagreements between the Registrant and Grant
Thornton LLP, whether resolved or not resolved, on any matter of accounting
principles or practices, financial statement disclosure or auditing scope or
procedure, which, if not resolved, would have caused them to make reference to
the subject matter of the disagreement in connection with their reports.
The reports of Grant Thornton LLP did not contain any adverse
opinion or disclaimer of opinion, and with the exception of a "going concern"
qualification because of substantial losses from operations in recent years,
were not qualified or modified as to uncertainty, audit scope or accounting
principles.
During the Registrant's two most recent fiscal years, and since
then, Grant Thornton LLP has not advised the Registrant that any of the
following exists or is applicable:
(1) That the internal controls necessary for the Registrant to
develop reliable financial statements do not exist, that
information has come to their attention that has led them to
no longer be able to rely on management's representations,
or that has made them unwilling to be associated with the
financial statements prepared by management;
(2) That Grant Thornton LLP needs to expand significantly the
scope of its audit, or that information has come to their
attention that if further investigated may materially impact
the fairness or reliability of a previously issued audit
report or the underlying financial statements or any other
financial presentation, or cause them to be unwilling to
rely on management's representations or be associated with
the Registrant's financial statements for the foregoing
reasons or any other reason; or
(3) That they have advised the Registrant that information has
come to their attention that they have concluded materially
impacts the fairness or reliability of either a previously
issued audit report or the underlying financial statements
for the foregoing reasons or any other reason.
The Registrant has provided Grant Thornton LLP with a copy of the
disclosure provided under this caption of this Report, and has advised it to
provide the Registrant with a letter addressed to the Securities and Exchange
Commission as to whether it agrees or disagrees with the disclosures made
herein. A copy of its response is attached hereto and incorporated herein by
reference. See Item 7 of this Report.
Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits.
Exhibits
16 Letter regarding change in certifying accountants
10-KSB Annual Report for the year ended February 28,
1998*
* Previously filed with the Securities and Exchange Commission and
incorporated herein by reference.
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 hereunto duly authorized.
Date: 3/22/99 By /s/ Steven K. Hansen
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Steven K. Hansen, President and CEO
[Grant Thornton LLP Letterhead}
March 19, 1999
Re: World Internetworks, Inc.
File No. 033-05844-NY
Dear Sir or Madam:
We have read Item 4 of the Form 8-K of World Internetworks, Inc. dated March
19, 1999 and agree with the statements contained therein.
Grant Thornton LLP has no knowledge concerning the comment in Item 4 paragraph
2 that "the registrant has not yet engaged an accounting firm to audit its
financial statements for the fiscal year ended February 28, 1999, but
anticipated doing so in the near future."
Very truly yours,
/s/ Grant Thornton LLP
