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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 ACT OF 1934
Date of Report (Date of earliest event reported): April 13, 1998
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Metro Global Media, Inc.
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(Exact name of registrant as specified in its charter)
Delaware 0-21634 65-0025871
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State or other jurisdiction (Commission (IRS Employer
of incorporation File Number) Identification No.)
1060 Park Avenue, Cranston, Rhode Island 02910
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (401) 942-7876
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(Former name of former address, if changed since last report)
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Item 5. Other Events
Pursuant to the Company's Form 8-K filing, dated December 23, 1997, the
Company engaged an independent consulting firm to investigate whether there were
any irregularities with respect to the Company's accounting and financial
reporting during Mr. Blair's tenure with the Company. To conduct this
investigation, the Company retained Ten Eyck Associates, Inc. whom, on March 5,
1998 issued a report to the Company stating that the investigation did not
reveal any accounting or financial reporting irregularities. Further the
investigation did not detect any transactions that appear to have been other
than in the ordinary course of business. Based on the results of this
investigation, on March 18, 1998, the Company's independent auditors retracted
their previous cautionary letter with respect to the Company's financial
statements and have once again concluded that their previously issued audit
reports dated July 31, 1997 and August 9, 1996 on the Company's financial
statements for the years ended May 31, 1997 and May 31, 1996 may be relied upon
as originally filed.
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Item 7. Financial Statements and Exhibits
(a) Financial statements of businesses acquired
not applicable
(b) Pro forma financial information
not applicable
(c) Exhibits
not applicable
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this amendment to be signed on its behalf by the
undersigned, thereunto duly authorized.
METRO GLOBAL MEDIA, INC.
By:
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Janet Hoey, Treasurer
April 13, 1998
