Letter Re: Change in Certifying Accountants
February 8, 1996
Securties and Exchange Commission
Washington, D.C. 20549
Gentleman:
We were previously principal accountants for First Entertainment, Inc. and on
April 4, 1995, we reported on the financial statements of First Entertainment,
Inc. as of and for the two years ended 12/31/94. On January 1, 1996, Mitchell
Finley and Company,P.C. merged their practice into BDO Seidman, LLP, and on
Feburary 8, 1996, we were replaced as principal accountants of First
Entertainment, Inc. We have read First Entertainment, Inc.'s statements
included under Item 4 of its Form 8-K for February 8, 1996, and we agree with
such statements.
Sincerely,
Mitchell Finley and Company, P.C.
Certified Public Accountants
Denver, Colorado
February 8,1996
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) February 9, 1996
Commission file Number 0-15435
First Entertainment, Inc.
(Exact name of registrant as specified in its charter.)
Colorado 84-0974303
(State or other jurisdiction of (I.R.S. Employer
incorporated or organization) Identification No.)
1380 Lawrence Street, Suite 1400 80204
(Address of principal executive offices (Zip Code)
Registrant's telephone number, including area code:
(303) 592-1235
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Act of 1934
Item 1. Changes in Control of Registrant.
Not Applicable
Item 2. Acquisition or Disposition of Assets.
On February 12, 1996 the Registrant entered into a Purchase
Agreement with Scott Kajiya and Jamie Ruiz (the Sellers) whereby the
Registrant will acquire 55% of the issued and outstanding common stock of Indian
Motorcycle Company Japan, a development stage company, and certain licensing
rights in exchange for 300,000 shares of the Registrants Class C Preferred Stock
valued at $1.00 per share.
The licensing rights acquired allow the use of the Indian
0Motorcycle Trademark on various products including denim and denim related
products, shoes, boots, jewelry, accessories and eye wear.
Ownership of the Indian Trademark has been the subject of legal
proceedings in Federal District Courts in both Colorado and Massachusetts. The
Indian Trademark rights are being consolidated by the Bankruptcy Court through
an auction sometime in the future. The Registrant believes that the licensing
rights acquired will be preserved as such rights were issued to the Sellers
prior to Indain Motocycle Company filing for bankruptcy.
Item 3. Bankruptcy or Receivership.
Not Applicable
Item 4. Changes in Registrant's Certifying Accountant
On February 8, 1996, BDO Seidman, LLP replaced Mitchell Finley and
Company as First Entertainment, Inc.'s prinipal accountants. The registrant
has not consulted with BDO Seidman, LLP on any accounting or auditing matters
during the past two years. On January 1, 1996, Mitchell Finley and Company, P.C.
merged their practice into BDO Seidman, LLP. Mitchell Finley and Company's
report on the financial statements for the two years ended 12/31/94, contained
an unqualified opinion. Also, there were no disagreements on any matter of
accounting principle or practice, financial statement disclosure, or auditing
scope or procedure with Mitchell Finley and Company, P.C. The Registrant
has requested that Mitchell Finley and Company, P.C., furnish it with a
letter addressed to the SEC stating whether it agrees with the above statements.
A copy of Mitchell Finley and Company's letter to the SEC, dated February 8,
1996 is attached as Exhibit 16.
Item 5. Other Events
Not Applicable
Item 6. Resignation of Registant's Directors.
Not Applicable
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
Not Applicable
Item 8. Change in Fiscal Year.
Not Applicable
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 autorized.
FIRST ENTERTAINMENT, INC.
By:A.B. Goldberg
------------------
A.B. Goldberg
President
Dated: February 9, 1996
