U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report: September 17, 1998
Date of Earliest Event Reported: September 3, 1998
NEWGOLD, INC.
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(Exact Name of Small Business Issuer as Specified in Charter)
Delaware 0-20722 16-1400479
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(State or Other (Commission File No.) (IRS Employer
Jurisdiction of Identification No.)
Incorporation)
35265 Willow Avenue
Post Office Box 230
Clarksburg, California 95612
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(Address of Principal Executive Offices)
(916) 665-1840
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(Issuer's Telephone Number)
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(Former Name, if changed since Last Report)
1
<PAGE>
Item 1. Changes in Control of Registrant.
N/A
Item 2. Acquisition or Disposition of Assets.
N/A
Item 3. Bankruptcy or Receivership.
N/A
Item 4. Changes in Registrant's Certifying Accountants
On September 10, 1998 the Registrant received a letter from KPMG Peat
Marwick LLP stating that they had resigned as Newgold, Inc.'s principal
accountants. The Former Accountant did not state any reason for resigning in its
resignation letter to the Company.
The accountant's report issued by KPMG Peat Marwick for the year ended
January 31, 1997, regarding the consolidated financial results and condition of
the Company were qualified as to the "Going Concern" status of the Company. The
reports, otherwise contained no adverse or qualified opinions, nor were they
modified as to audit scope or accounting principal.
The Company is in the process of seeking new independent accountants.
Item 5. Other Events
N/A
Item 6. Resignation of Registrant's Directors
N/A
Item 7. Financial Statements. Pro Forma Financial Information and Exhibits.
Exhibit 1. Letter of Resignation from KPMG Peat Marwick LLP.
Exhibit 2. Letter of Approval of Form 8K from KPMG Peat Marwick LLP.
Item 8. Change in Fiscal Year
N/A
Item 9. Sale of Equity Securities under Regulation S.
(Required until January 1, 1999)
N/A
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 the
registrant has caused this report to be signed on its behalf by the undersigned
hereunto duly authorized .
NEWGOLD, INC.
Date: September 17, 1998 By: /s/Arthur Scott Dockter
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Arthur Scott Dockter,
President
Exhibit 1 for Item 7
KPMG Peat Marwick LLP Letterhead
400 Capitol Mall Telephone 916-448-4700 Telefax 916-554-1199
Sacramento, CA 95814
September 3, 1998
Mr. Bob Morris
Chief Financial Officer
Newgold, Inc.
P.O. Box 260
Clarksburg, CA 95612
Dear Mr. Morris:
This is to confirm that the client-auditor relationship between Newgold, Inc.
and KPMG Peat Marwick LLP has ceased.
Very truly yours,
/s/ KPMG Peat Marwick LLP
cc: Chief Accountant
Securities and Exchange Commission
Exhibit 2 for Item 7
KPMG Peat Marwick LLP Letterhead
400 Capitol Mall Telephone 916-448-4700 Telefax 916-554-1199
Sacramento, CA 95814
September 16, 1998
Securities and Exchange Commission
Washington, D.C. 20549
Ladies and Gentlemen:
We were previously principal accountants for Newgold, Inc. and, under the date
of June 18, 1997, we reported on the financial statements of Newgold, Inc. as of
January 31, 1997 and for the thirteen month period then ended. On September 3,
1998, we resigned. We have read Newgold, Inc.'s statements included under Item 4
of its Form 8-K dated September 16, 1998, and we agree with such statements.
Very truly yours,
KPMG Peat Marwick LLP
