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.
May 25, 1999
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Date of Report (Date of earliest event reported)
CELTIC INVESTMENT, INC.
(Exact name of Registrant as specified in its charter)
Delaware 33-37436-C 36-3729989
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State of Commission File No. IRS Employer
Incorporation Identification No.
17W220 22nd Street, Suite 420
Oakbrook Terrace, IL 60181
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(Address of principal executive offices)
(630) 993-9010
(Registrant's telephone number)
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Item 4. Change in Registrant's Certifying Accountant
On or about May 17, 1999, the Board of Directors of the Company adopted a
Resolution whereby the Company would not retain the accounting firm of McGladery
& Pullen as the Company's certifying independent accountant for the current
fiscal year.
There had been no disagreements with McGladery & Pullen on any matter of
accounting principles or practices, financial statement disclosure or auditing
scope of procedure during the last two fiscal years and up to the date of the
change.
The accountants' reports on the Company's financial statements for the two
previous years did not contain adverse opinions or disclaimer of opinions nor
were such reports qualified as to audit scope, uncertainty or accounting
principles.
The decision not to retain McGladery & Pullen as the Company's certifying
independent accountant was made by the Board of Directors.
The Board of Directors has not appointed a new certifying independent
accountant as of the date hereof, but intends to do so in the near future.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1934, the Registrant
has duly caused this report to be signed on its behalf by the undersigned
thereunto duly authorized.
Dated: May 25, 1999 CELTIC INVESTMENT, INC.
By /s/ Douglas P. Morris
Douglas P. Morris
President
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