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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 and Exchange Act of 1934
Date of Report (Date of earliest event reported):September 24, 1997
Odyssey Pictures Corporation
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(Exact name of registrant as specified in its charter)
Nevada 0-18954 95-4269048
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
1875 Century Park East, Los Angeles, California 90067
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(Address of principal executive offices)
Registrant's telephone number, including area code: 310-229-2430
N/A
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(Former name or former address, if changed since last report)
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ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.
(a) Previous independent accountants:
On September 24, 1997, Price Waterhouse LLP resigned as the
independent accountants of Odyssey Pictures Corporation (the "Company").
The reports of Price Waterhouse LLP on the financial statements for
the past two fiscal years ended June 30, 1996 contained no adverse opinion or
disclaimer of opinion and were not qualified or modified as to scope or
accounting principle, but were modified to include an explanatory paragraph
expressing uncertainty about the Company's ability to continue as a going
concern.
In connection with its audits for the two most recent fiscal years
ended June 30, 1996, and through the date of its resignation on September 24,
1997, there have been no disagreements with Price Waterhouse LLP on any matter
of accounting principles or practices, financial statement disclosure, or
auditing scope or procedure, which disagreements, if not resolved to the
satisfaction of Price Waterhouse LLP, would have caused them to make reference
thereto in their report on the financial statements for such years.
The Registrant has requested that Price Waterhouse LLP furnish it with
a letter addressed to the Securities & Exchange Commission, stating whether or
not it agrees with the above statements. A copy of such letter, dated October
27, 1997, is filed as Exhibit 16.1 to this Form 8-K.
(b) New independent accountants have not yet been selected by the Company.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits.
16.1 Letter of Price Waterhouse LLP, dated October 27, 1997.
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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.
Odyssey Pictures Corporation
By:/s/ Ira N. Smith
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Ira N. Smith, Pres.
Date: October 27, 1997
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Exhibit 16.1
[LETTERHEAD OF PRICE WATERHOUSE LLP]
October 27, 1997
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Ladies and Gentlemen:
Odyssey Pictures Corporation
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We have read Item 4 of Odyssey Pictures Corporation's Form 8-K dated
September 24, 1997 and are in agreement with the statements contained in
paragraph 4(a) therein.
Yours very truly,
/s/ Price Waterhouse LLP
