UNITED STATES
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) January 12, 2000
ENVIRONMENTAL REMEDIATION HOLDING CORPORATION
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
Colorado 0-17325 58-2429712
(STATE OR OTHER (COMMISSION FILE (IRS EMPLOYER
JURISDICTION NUMBER) IDENTIFICATION NO.)
OF INCORPORATION)
16101 LaGrande Drive, Suite 100
Little Rock, Arkansas 72223
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
(501) 821-2222
(REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE)
<PAGE>
ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.
On January 12, 2000, Environmental Remediation Holding Corporation
(the "Company") was informed by Durland & Company, CPAs, P.A. ("Durland &
Company") that Durland & Company had resigned as the Company's independent
auditors.
The audit reports of Durland & Company on the Company's financial
statements for the fiscal year ended September 30, 1998 contained an
explanatory paragraph regarding uncertainty as to the Company's ability to
continue as a going concern. As reported in the Company's Current Report
on Form 8-K filed December 23, 1999 (the "December 8-K"), the Company does
not have sufficient financial resources to obtain audited financial
statements for the fiscal year ended September 30, 1999, and Durland &
Company had therefore not commenced an audit of the Company's finances for
such period.
Based upon available information, the Company is unaware of any
matter of accounting principles or practices, financial statement
disclosure, or auditing scope and procedures which, if not resolved to the
satisfaction of Durland & Company, would have caused Durland & Company to
make references to the matter in connection with the audit of the
Company's financial statements for the fiscal year ended September 30,
1998, or with respect to an audit of the Company's financial statements
for the fiscal year ended September 30, 1999, had such an audit been
conducted.
The Company also reported in the December 8-K that following the
change in control of the Company reported in its Current Report on Form 8-K
filed on August 23, 1999, new management and new board of directors of the
Company have discovered that financial records of the Company for periods
prior to the change in control are, in many cases, incomplete and
inaccurate. New management has therefore had difficulty reconstructing the
financial history of the Company and is not confident that the available
records would have afforded Durland & Company or any other auditor with
sufficient, competent evidential information to complete an audit for its
fiscal year ended September 30, 1999 and render an opinion. The Company's
liabilities presently outweigh its assets, and the Company believes that if
it would have obtained an audit opinion with respect to the fiscal year
ended September 30, 1999, such opinion would have contained a "going
concern" modification. However, given the state of the Company's
historical financial records, the Company expects that if it had had
sufficient resources to timely obtain such an audit opinion, it would have
dismissed Durland & Company as its certifying accountants and engaged new
auditors.
Based upon available information, the Company is unaware of Durland &
Company having advised the Company during the fiscal years ended September
30, 1998 and September 30, 1999, or during any interim period thereafter,
that: (i) internal controls necessary for the Company to develop reliable
financial statements did not exist; (ii) information had come to the
attention of Durland & Company that led it to no longer be able to rely on
management's representations, or that made it unwilling to be associated
with the financial statements prepared by management; (iii) Durland &
Company needed to expand significantly the scope of an audit, or
information had come to the attention of Durland & Company during such
periods that, if further investigated, could have (a) materially impacted
the fairness or reliability of either: a previously issued audit report or
the underlying financial statements, or the financial statements issued or
to be issued covering the fiscal periods subsequent to the date of the most
recent financial statements covered by an audit report (including
information that may have prevented it from rendering an unqualified audit
report on those financial statements) or (b) caused it to be unwilling to
rely on management's representations or be associated with the registrant's
financial statements; or (iv) information had come to Durland & Company's
attention that it concluded materially impacted the fairness or reliability
of either (a) a previously issued audit report or the underlying financial
statements or (b) the financial statements issued or to be issued covering
the fiscal periods subsequent to the date of the most recent financial
statements covered by an audit report (including information that, unless
resolved to Durland & Company's satisfaction, would have prevented it from
rendering an unqualified audit report on those financial statements).
<PAGE>
SIGNATURE
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.
ENVIRONMENTAL REMEDIATION HOLDING
CORPORATION
By:/S/ GEOFFREY TIRMAN
-------------------------------------
Geoffrey Tirman
President and Chief Executive Officer
Date: January 17, 2000
