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
Date of Report (Date of earliest event reported) December 10, 1997
CRESCENT CAPITAL, INC.
(Exact name of registrant as specified in its charter)
DELAWARE 33-39759 13-3645694
(State of Organization) (Commission File No.) (IRS Employer
Identification Number)
6701 Democracy Boulevard, Suite 300
Bethesda, MD 20817
(Address of principal executive offices)
(301) 530-1708
(Registrant's telephone number, including area code)
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Item 4. Changes in Registrant's Certifying Accountants
Moore Stephens, P.C. was previously the principal accountant for Crescent
Capital, Inc. On December 10, 1997 that firm's appointment as principal
accountants was terminated. The decision to terminate was approved by the board
of directors. On January 1, 1998, the Company appointed Wayne P. Hickey, CPA to
replace Moore Stephens, P.C. as independent auditor for the Company for the
fiscal year ended December 31, 1997. The decision to appoint Mr. Hickey was
approved by the board of directors.
In connection with the audits of the two fiscal years ended December 29, 1996,
and the subsequent interim period through December 10, 1997, there were no
disagreements with Moore Stephens, P.C. on any matter of accounting principles
or practices, financial statement disclosure, or auditing scope or procedures,
which disagreements if not resolved to their satisfaction would have caused them
to make reference in connection with their opinion to the subject of the
disagreement.
The audit reports of Moore Stephens, P.C. on the consolidated financial
statements of Crescent Capital, Inc, and subsidiaries as of and for the years
ended December 29, 1996 and December 31, 1995, did not contain any adverse
opinion or disclaimer of opinion, nor were they qualified or modified as to
uncertainty, audit scope, or accounting principles. A letter from Moore
Stephens, P.C. is attached as Exhibit A.
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SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) 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.
CRESCENT CAPITAL, INC.
Date: December 10, 1997 By: /s/ Colin Halpern
Colin Halpern, President
