U.S. 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: July 23, 1999
Commission File No. 33-17966-LA
INTERNATIONAL WOOD CORPORATION
A Colorado Corporation EIN: 94-3030021
8833 Sunset Blvd., Suite 200
West Hollywood, CA 90069
Telephone: 310-289-4947
Item 1. Changes in Control of Registrant.
Not applicable
Item 2. Acquisition or Disposition of Assets.
Not Applicable
Item 3. Bankruptcy or Receivership
Not applicable.
Item 4. Changes in Registrant's Certifying Accountant
(a)(1)Indication of Registrant's Certifying Accountant of Decision
to Resign from the Engagement.
(i) On May 1, 1999, the Board of Directors of International Wood
Corporation, the "Company", accepted the resignation of the firm of Harlan
and Boettger, L.L.P. as auditors for the Company.
(ii) For fiscal years ended December 31, 1995 and 1996, Harlan
and Boettger, L.L.P., issued unqualified opinions regarding the financial
condition of the Company.
(iii)There were no disagreements with Harlan and Boettger, L.L.P.
during the audits of the Company's financial statements for the fiscal years
ended December 31, 1995 and December 31, 1996,
preceding the change in any matter of accounting principals or
practices, financial statement disclosure, or auditing scope or procedures,
which would have caused the accountants to make reference to the subject
matter of the disagreement in the audit report if the disagreement had not
been resolved to the accountant's satisfaction.
(iv)A letter of Harland and Boettger, L.L.P. addressed to the
Securities and Exchange Commission is included as an exhibit to this Form
8-K. Such letter states that such firm agrees with the statements made by the
Company in this Item 4.
(a)(2)Engagement of New Accountants
On June 23, 1999, the Company engaged the firm of Holyfield
Associates, P.A. , "Holyfield", as its new independent accountants. Holyfield
has not consulted regarding the application of accounting principles to a
specific, completed or contemplated transaction; or the type of audit opinion
to be rendered with regard to the Company's financial statements; or any
disagreements or reportable events as such terms are used in Regulation S-K,
Item 304(a)(2).
(a)(3)Copy of Disclosures.
Harlan and Boettger, L.L.P. has been provided a copy of the
disclosures contained in the Form 8-K with a request that it furnish to the
Company a letter addressed to the Commission stating whether it agrees with
the statements made by the Company in response to Item 304(a) of
Regulation S-K, and, if not, stating the respects in which it does not agree.
Attached as an exhibit, is a copy of a letter from Harlan and Boettger, L.L.P.
to the Commission stating that it agrees with the statements in the Form 8-K
concerning its firm.
Item 5. Other Events
Not applicable.
Item 6. Resignation of Registrant's Directors
Not applicable.
.
Item 7. Financial Statements and Exhibits
(c) Exhibits.
Letter of Harlan and Boettger, L.L.P. to the Securities and
Exchange Commission included herein pursuant to the requirements of Item
304(a) of Regulation S-K.
SIGNATURE
In accordance with Section 13 or 15(d) of the Securities Exchange Act of
1934, this registrant caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
International Wood Corporation
Dated: July 23, 1999
By: /s/ Elliott Sassoon
Elliott Sassoon, President,
Director and Chief Financial Officer
Harlan & Boettger, LLP
Certified Public Accountants
July 21, 1999
Office of Chief Accountant
SECPS Letter File
Securities and Exchange Commission
Mail Stop 9-5
450 Fifth Street, N.W.
Washington, DC 20549
Gentlemen:
We were the previous principal accountants for International Wood
Corporation, formerly Xanthic Enterprises, Inc. (Registrant). On February
24, 1997, we reported on the financial statements of International Wood
Corporation, formerly Xanthic Enterprises, Inc.
as of and for the years ended December 31, 1996 and 1995.
On May 1, 1999, we notified the Company that we would no longer be serving as
International Wood Corporation, formerly Xanthic Enterprises, Inc. principal
accountant. There have been no disagreements concerning accounting principals
or disclosures. We have read item 4 of the Registrant's Form 8-K and agree
with the content.
Very truly yours,
/s/ Harlan & Boettger, LLP
Harlan & Boettger, LLP
H&B/sms
cc: International Wood Corporation, formerly Xanthic Enterprises, Inc.
5415 Oberlin Drive - San Diego, California 92121
Telephone (619) 535-2000 - Facsimile (619) 535-2015
