FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
August 27, 1999
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Ajay Sports, 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)
0-18204 39-1644025
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(Commission File Number) (IRS Employer
Identification Number)
1501 E. Wisconsin Street, Delavan, WI 53115
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(Address of Principal Executive Offices) (ZipCode)
Registrant's telephone number, including area code: (414) 728-5521
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ITEM 4: Changes in Registrant's Certifying Accountant.
(a) Hirsch Silberstein & Subelsky, P.C. resigned as the independent accountants
for Ajay Sports, Inc. (the "Registrant") effective August 27, 1999.
In connection with the audits of the two fiscal years ended December 31, 1998
and 1997 and the subsequent interim period through August 27, 1999, there were
no disagreements with Hirsch Silberstein & Subelsky, P.C. on any matter of
accounting principles or practices, financial statement disclosure, or auditing
scope or procedure, which disagreements if not resolved to their satisfaction
would have caused them to make reference in connection with their opinion to
the subject matter of the disagreement.
The audit reports of Hirsch Silberstein & Subelsky, P.C. on the financial
statements of the Registrant for the years ended December 31, 1998 and 1997,
did not contain any adverse opinion or disclaimer of opinion and were not
qualified or modified as to uncertainty, audit scope or accounting principles.
The decision by Hirsch Silberstein & Subelsky, P.C. to resign was a result of
one of its members, Ronald N. Silberstein, leaving the firm to become the
Registrant's Chief Financial Officer and Chief Administrative Officer.
Following Mr. Silberstein's departure, the Registrant has been advised that the
firm will concentrate its practice of providing accounting related services to
individuals and privately held businesses.
(b) On August 27, 1999, the Registrant engaged the accounting firm of J.L.
Stephan Co., P.C. to act as its independent accounting firm, as successor to
Hirsch Silberstein & Subelsky, P.C. The Registrant has not consulted J.L.
Stephan Co., P.C. regarding any accounting principles or disagreements with its
former independent accountants.
ITEM 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(a) and (b) Financial Statements
None
(c) Exhibits
Letter from Hirsch Silberstein & Subelsky, P.C. dated August 31,
1999, addressed to the Securities and Exchange Commission. Filed
Herewith
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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.
AJAY SPORTS,INC.
By \S\ROBERT R. HEBARD
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Robert R. Hebard, Secretary
August 30, 1999
August 31, 1999
Securities and Exchange Commission
450 Fifth Street N.W.
Washington, D.C. 20549
Gentlemen:
We have read the statements made by Ajay Sports, Inc. (copy attached) which we
understand will be filed with the Commission, pursuant to Item 4 of Form 8-K, as
part of the Company's Form 8-K report dated August 27, 1999. We agree with the
statements concerning our firm in such Form 8-K.
Very Truly Yours,
\s\Hirsch Silberstein & Subelsky
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Hirsch Silberstein & Subelsky, P.C.
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