SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
June 1, 1998
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Date of Report (Date of earliest event reported)
INNOVUS CORPORATION
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(Exact name of Registrant as specified in its charter)
Delaware 0-26790 87-0461856
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(State or other (Commission File Number) (IRS Employer
jurisdiction of Identification
Incorporation) No.)
4600 Campus Drive
Newport Beach, CA 92660
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(Address of principal executive offices)
(Zip Code)
(801) 474-9228
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(Registrant's telephone number, including area code)
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Item 4. Changes in and Disagreements With Accountants on Accounting
and Financial Disclosure.
On June 1, 1998, the Company's Board of Directors elected to retain Hansen
Barnett & Maxwell, a professional corporation ("HBM") as its independent auditor
and to dismiss Grant Thornton LLP ("Grant"). Heretofore Grant had acted as the
Company's independent auditor. The decision to change auditors was recommended
by the Company's Board of Directors.
The reports of Grant on the financial statements of the Company for each of the
two fiscal years in the period ended December 31, 1996, 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 reports state that the
financial statements were prepared on the basis of the Company continuing as a
going concern, but that there were substantial doubt about the Company's ability
to continue as a going concern. Grant had not issued an audit report for the
year ended December 31, 1997.
During the Company's two most recent fiscal years and all subsequent interim
periods preceding such change in auditors, there was no disagreement with Grant
on any matter of accounting principles or practices, financial statement
disclosure, or auditing scope or procedure, which, if not resolved to the
satisfaction of the former accountant, would have caused it to make a reference
to the subject matter of the disagreements in connection with its report; nor
has Grant ever presented a written report, or otherwise communicated in writing
to the Company or its Board of Directors the existence of any "disagreement" or
"reportable event" within the meaning of Item 304 of Regulation S-K.
The Company has authorized Grant to respond fully to the inquiries of the
Company's successor accountant and has requested that Grant provide the Company
with a letter addressed to the SEC, as required by Item 304(a)(3) of Regulations
S-K, so that the Company can file such letter with the SEC.
HBM had audited the Company's financial statements for the three years ended
December 31, 1994.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
c. Exhibits.
Number Description
16 Letter re change in certifying accountant
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Company
has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
INNOVUS CORPORATION
Date: June 5, 1998. By /s/ TERRY HAAS
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Terry Haas, President
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[LETTERHEAD]
Suite 1000
170 S. Main Street
Salt Lake City, UT 84101
801 531-6888
FAX 801 322-0061
GRANT THORNTON LLP Accountants and
Management Consultants
The U.S. Member Firm of
Grant Thornton International
June 5, 1998
Securities and Exchange Commission
Washington, D.C. 20549
Re: Innovus Corporation
File No. 0-26790
Dear Sir or Madam:
We have read Item 4 of the Form 8-K of Innovus Corporation dated June 1, 1998,
and agree with the statements contained therein, except for the information
contained in the first paragraph relating to the Company's Board of Directors
electing to retain Hansen Barnett & Maxwell as its independent auditor, about
which we have no knowledge.
Very truly yours,
/s/ Grant Thornton LLP
