SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities and Exchange Act of 1934
Date of Report (Date of earliest event reported):
November 10, 1997
SIEMANN EDUCATIONAL SYSTEMS, INC
(Exact name of registrant as specified in its charter)
COLORADO 33-18174 84-1067172
(State or other (Commission File Number) (IRS Employer I.D. Number)
jurisdiction of
incorporation)
405 SOUTH PLATTE RIVER DRIVE SUITE 3A
DENVER, COLORADO 80203
(Address of principal executive offices)
Registrant's telephone number, including area code: (303) 733-9673
Chartwell Cable Fund, Inc.
20 Chase Street
Lakewood, Colorado 80226
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(Former name and former address, if changed since last report)
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ITEM 4. CHANGES IN ACCOUNTANTS
Holben, Boak, Cooper & Co., formerly CPA's for the Company,
resigned as auditor on November 10, 1997 due to the pending dissolution of
that firm. Gordon, Hughes & Banks, LLP, CPA's were engaged on November 10,
1997 as auditors for the Company.
In connection with audits of two most recent fiscal years and any
interim period preceding resignation, no disagreements exist with any
former accountant on any matter of accounting principles or practices,
financial statement disclosure, or auditing scope of procedure, which
disagreements if not resolved to the satisfaction of the former accountant
would have caused him to make reference in connection with his report to
the subject matter of the disagreement(s) in connection with its reports.
The audit report by Holben, Boak, Cooper & Co., ("HBC") for the
year ended December 31, 1996. contained no adverse opinion, disclaimer or
qualification except a paragraph discussing uncertainties related to
continuation of the Registrant as a going concern. No adverse opinion,
disclaimer or qualification was included in the opinion by HBC for the year
ending December 31, 1995.
The decision to change accountants was approved by the Board of
Directors.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(a) and (b) N/A
(c) Exhibits:
Exhibit No. Page Description
- ----------- ---- -----------
23.1 3 Letter from Holben, Boak, Cooper & Co.
ITEM 8. CHANGE IN FISCAL YEAR
On September 18, 1997 the Company's shareholders voted to change
the Company's fiscal year end from August 31 to December 31.
<PAGE>
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.
Siemann Educational Systems, Inc.
(Registrant)
By /s/ Paul T. Siemann
----------------------------
Paul T. Siemann
Chief Executive Officer
Dated: November 10, 1997
EXHIBIT 23.1
HOLBEN, BOAK, COOPER & CO.
- -------------------------------------------------------------------------
Certified Public Accountants 1720 S. Bellaire Street, Suite 500
Professional Corporation Denver, Colorado 80222
(303) 759-2727 Fax (303) 759-2728
November 10, 1997
Mr. Paul Siemann
President
Siemann Educational Systems, Inc. (formerly Chartwell Cable Fund, Inc.)
405 South Platte River Dr.
Denver, CO 80203
Dear Mr. Siemann,
This is to confirm that the client-auditor relationship between Siemann
Educational Systems, Inc. (SES) (formerly Chartwell Cable Fund, Inc.)
(Commission File Number 33-18174-D) and Holben, Boak, Cooper & Co. has
ceased. We have reviewed and agree with the disclosure included in SES'
Form 8-K dated November 10, 1997 which describes the termination of our
relationship.
Sincerely,
/s/ HOLBEN, BOAK, COOPER & CO.
Holben, Boak, Cooper & Co.
cc: Office of the Chief Accountant
SECPS Letter File
Securities and Exchange Commission
Mail Stop 9-5
450 Fifth Street, N.W.
Washington, D.C. 20549
