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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Date of report (Date of earliest event reported) December 18, 1998 (December 11, 1998)
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COLLEGIATE PACIFIC INC.
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(Exact Name of Registrant as Specified in Charter)
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Pennsylvania 0-17293 22-2795073
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(State or Other Jurisdiction of (Commission File Number) (IRS Employer Identification No.)
Incorporation)
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13950 Senlac, Suite 200, Farmers Branch, Texas 75235
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (972) 243-8100
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None
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(Former Name or Former Address, if Changed Since Last Report)
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Item 4. Changes in Registrant's Certifying Accountant
On December 11, 1998, the Board of Directors approved the firm of Grant
Thornton as the Company's new principal accountants. The Board of Directors also
dismissed Sutton Frost LLP ("Sutton Frost") as its principal accountants who
reported on the consolidated financial statements of Collegiate Pacific Inc. and
its subsidiaries as of and for the year ended June 30, 1998. The reports of
Sutton Frost for such most recent fiscal year did not contain an adverse opinion
or disclaimer of opinion. Such reports were not qualified or modified as to
uncertainty, audit scope or accounting principles. During such year and during
the period between June 30, 1997 and their dismissal, there was no disagreement
between Sutton Frost and Collegiate Pacific on any matter of accounting
principles or practices, financial statement disclosure, or auditing scope or
procedure, which disagreements, if not resolved to the satisfaction of Sutton
Frost, would have caused that firm to make reference to the subject matter of
such disagreement in connection with its report on the Company's financial
statements.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
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Exhibit No. Exhibit
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16 Letter from Sutton Frost LLP regarding change in certifying
accountant.
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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.
COLLEGIATE PACIFIC INC.
Dated: December 18, 1998 By: /s/ Michael J. Blumenfeld
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Name: Michael J. Blumenfeld
Title: Chairman, President and
Chief Executive Officer
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INDEX TO EXHIBITS
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Exhibit No. Exhibit
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16 Letter from Sutton Frost LLP regarding change in certifying
accountant.
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EXHIBIT 16
[SUTTON FROST LLP LETTERHEAD]
December 18, 1998
Securities and Exchange Commission
Washington D.C. 20549
Dear Sir or Madam:
We are principal accountants for Collegiate Pacific, Inc. and Subsidiaries
("Company") and, under the date of August 25, 1998, we reported on the
consolidated financial statements of Collegiate Pacific, Inc. and Subsidiaries
as of and for the year ending June 30, 1998. On December 11, 1998 we were
informed by the Company that it is the Company's intention to terminate our
appointment as principal accountants subsequent to the issuance of our reports
on the consolidated financial statements of Collegiate Pacific, Inc. and
Subsidiaries as of and for the year ending June 30, 1998. We have read the
Company's statements included under Item 4 of its Form 8-K dated December 18,
1998 and agree with such statements, except that we are not in a position to
agree or disagree with the Company's statement that the change was approved by
the audit committee of the board of directors.
/s/ SUTTON FROST
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A Limited Liability Partnership
