SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K/A
(Amendment No. 1)
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED) MAY 3, 2000
PRODEO TECHNOLOGIES, INC.
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(Exact name of Registrant as Specified in Its Charter)
DELAWARE
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(State or Other Jurisdiction of Incorporation)
33-28417 95-4585824
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(Commission File Number) (I.R.S. Employer Identification No.)
1817 WEST 4TH STREET, TEMPE, ARIZONA 85281
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(Address of Principal Executive Offices) (Zip Code)
(602) 921-8555
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(Registrant's Telephone Number, Including Area Code)
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(Former Name or Former Address, if Changed Since Last Report)
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ITEM 4: CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT.
1. On May 2, 2000, Sitek, Incorporated dismissed its current accountants,
McGladrey & Pullen, LLP, and hired Deloitte & Touche, LLP, effective
immediately.
2. The auditor's reports from McGladrey & Pullen, LLP for the Company's
past fiscal year did not contain an adverse opinion or a disclaimer of
opinion, and was not qualified or modified as to uncertainty, audit
scope, or accounting principles. McGladrey & Pullen became the
Company's auditors beginning for the fiscal year ending March 31,
1999.
3. The decision to engage Deloitte & Touche, LLP was recommended and
approved by the audit committee and the Board of Directors.
4. During the Company's most recent fiscal year and the subsequent
interim period preceding the change, there has been one potential
disagreement with McGladrey & Pullen, LLP on a matter involving
revenue recognition that was not resolved before McGladrey and Pullen,
LLP's dismissal. The matter has been transferred to the Company's new
accountants, Deloitte & Touche, LLP. A transaction valued at
approximately $690,000 involving the exchange of inventory owned by a
third party for the Company's inventory occurred in the quarter ended
March 31, 2000. McGladrey & Pullen, LLP disagreed with the Company's
Chief Financial Officer desire to recognize the $690,000 as revenue.
The Company indicated to McGladrey & Pullen, LLP that it will send all
required documentation on this issue to its new accountants, Deloitte
& Touche, LLP and will follow whatever recommendation it receives from
Deloitte & Touche, LLP. The Company had not received a recommendation
on this matter at the time of McGladrey & Pullen, LLP's dismissal. The
outstanding issue regarding the revenue recognition was not a factor
in the dismissal of McGladrey & Pullen, LLP. The Company has
authorized McGladrey & Pullen, LLP to respond fully to inquiries from
Deloitte & Touche, LLP concerning this disagreement.
5. A copy of the letter received by the Company from McGladrey & Pullen,
LLP on the revenue recognition issue is included as an exhibit to this
8-K/A.
ITEM 7: FINANCIAL STATEMENTS AND EXHIBITS.
Number Exhibit Filed Herewith
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16.1 Letter re: Change in Certifying Accountant X
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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.
Prodeo Technologies, Inc.
(Registrant)
Date: June 9, 2000 By: /s/ Don Jackson, Jr.
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Don Jackson, Jr., President, Director
and Chief Executive Officer
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