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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (d) OF
THE SECURITIES EXCHANGE ACT OF 1934
DATE OF EARLIEST EVENT REPORTED: SEPTEMBER 17, 1999
LAHAINA ACQUISITIONS, INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN CHARTER)
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COLORADO 0-27480 84-1325695
(STATE OF OTHER JURISDICTION OF (COMMISSION FILE (IRS EMPLOYER
INCORPORATION OR ORGANIZATION) NO.) IDENTIFICATION NO.)
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(770) 754-6140
(REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE)
NOT APPLICABLE
(FORMER NAME OF FORMER ADDRESS, IF CHANGED SINCE LAST REPORT)
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ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT
On September 17, 1999, Kenneth R. Walters, P.A. ("Walters"), who had served as
principal accountant to audit the financial statements of the Registrant,
resigned from his engagement with the Registrant. Following such resignation,
the Board of Directors of the Registrant approved the engagement of Deloitte
and Touche LLP ("Deloitte") as the Registrant's principal accountant and
replacement for Walters. The Board approved the engagement of Deloitte because
it had the resources needed to serve the Registrant as its business grows.
Walters' report on the Registrant's financial statements for each of the last
two years did not contain an adverse opinion or a disclaimer of opinion, nor
was it qualified or modified as to uncertainty, audit scope, or accounting
principles.
During the Registrant's two most recent fiscal years and the subsequent interim
period preceding the resignation of Walters, there were no disagreements with
Walters on any matter of accounting principles or practices, financial
statement disclosure, or auditing scope or procedure, which disagreement(s), if
not resolved to the satisfaction of Walters, would have caused it to make a
reference to the subject matter of the disagreement(s) in connection with its
report.
Walters did not advise the Registrant during the Registrant's two most recent
fiscal years or during the subsequent interim period preceding Walters'
resignation:
(a) that the internal controls necessary for the Registrant to
develop reliable financial statements did not exist;
(b) that information had come to its attention that had led it to
no longer be able to rely on management's representations, or
that had made it unwilling to be associated with the
financial statements prepared by management;
(c) of the need to expand significantly the scope of its audit,
or that information had come to its attention during the two
most recent fiscal years or any subsequent interim period
that if further investigated might (i) materially have
impacted the fairness or reliability of either: a previously
issued audit report or the underlying financial statements,
or the financial statements issued or to be issued covering
the fiscal period(s) subsequent to the date of the most
recent financial statements covered by an audit report or
(ii) have caused it to be unwilling to rely on management's
representations or be associated with the Registrant's
financial statements; or
(d) that information had come to its attention that it had
concluded materially impacts the fairness or reliability of
either (i) a previously issued audit report or
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the underlying financial statements, or (ii) the financial
statements issued or to be issued covering the fiscal
period(s) subsequent to the date of the most recent financial
statements covered by an audit report.
Walters was authorized by the Registrant to respond fully to inquiries of
Deloitte.
Except such advice as has been provided by Deloitte in connection with auditing
services related to the preparation of historical financials for the
Registrant's recently acquired subsidiary, during the two most recent fiscal
years and during the interim period prior to engaging Deloitte, neither the
Registrant nor anyone on its behalf consulted Deloitte regarding either: (a)
the application of accounting principles to a specified transaction, either
completed or proposed; or the type of audit opinion that might be rendered on
the Registrant's financial statements, and neither a written report nor oral
advice was provided to the Registrant that Deloitte concluded was an important
factor considered by the Registrant in reaching a decision as to an accounting,
auditing or financial reporting issue; or (b) any matter that was the subject
of either a disagreement or any other event described above.
ITEM 7. EXHIBIT INDEX
16.1 Letter from Kenneth R. Walters regarding Change in Certifying Accountant
[SIGNATURE PAGE FOLLOWS]
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SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Lahaina Acquisitions, Inc.
(REGISTRANT)
/s/ Scott Demerau
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September 21, 1999 L. Scott Demerau
President
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[KENNETH R. WALTERS, P.A. Letterhead]
CERTIFIED PUBLIC ACCOUNTANTS
P.O. Box 15361
Fernandina Beach, FL 32035
Members: American Institute of Certified Public Accountants and Florida
Institute of Certified Public Accountants
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September 17, 1999
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Dear Sir/Madam;
We have read Item 4 of Form 8-K which was provided by Lahaina Acquisitions,
Inc., and are in agreement with the statements contained therein.
Very truly yours,
/s/ KENNETH R. WALTERS, P.A.
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KENNETH R. WALTERS, P.A.
