U.S. Securities and Exchange Commission
Washington, D.C. 20549
Form 8-K/A
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Act of 1934
Date of Report (Date of earliest event reported): June 22, 1999
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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)
(401) 942-7876
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(Registrant's telephone number, including area code)
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(Former name of former address, if changed since last report)
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Item 4 Change in Registrant's Certifying Accountant.
On June 22, 1999, Metro Global Media, Inc.'s ("Metro") independent accounting
firm, Grant Thornton, LLP resigned. Since Grant Thornton's appointment, there
have been no disagreements on any matter of accounting principals or practices,
financial statement disclosure or auditing scope or procedure. Grant Thornton
did not audit Metro's May 29, 1999 records nor have they issued a report on
Metro's financial statements.
In its letter to the SEC, which is part of the Form 8-K/A filed with the
Commission on July 13, 1999, Grant Thornton stated that it was unwilling to be
associated with Metro's financial statements.
Metro has furnished Grant Thornton with a copy of this disclosure and has
requested Grant Thornton furnish it with an updated letter addressed to the SEC
stating whether it agrees with the above statements.
Grant Thornton stated in its July 8, 1999 letter that it resigned as the
Company's auditors because Grant Thornton was of the opinion that a minority
shareholder has the operating and financial decision making authority at the
Company. Grant Thornton is referring to Kenneth F. Guarino, who is former
employee of the Company and who is currently acting as a consultant to the
Company. Mr. Guarino was also the founder and is a former president of the
Company, but has not served in that capacity for 3 years. However, the operating
and financial decision making authority rests solely with the Company's Board of
Directors. Mr. Guarino is not currently a member of the Company's Board of
Directors and does not have the authority to make operation or financial
decisions on behalf of the Company.
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: /s/ Janet Hoey
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Janet Hoey, Treasurer
August 23, 1999
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