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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 Exchange Act of 1934
Date of Report (Date of earliest event reported) June 27, 1997
BITWISE DESIGNS, INC.
(Exact name of Registrant as specified in charter)
Delaware 0-20190 14-1673067
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.
Building 50, Rotterdam Industrial Park, Schenectady, N.Y. 12306
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (518) 356-9741
(Former name or former address, if changed since last report)
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ITEM 4. CHANGE OF REGISTRANT'S CERTIFYING ACCOUNTANT.
On June 27, 1997, the Board of Directors of Bitwise Designs,
Inc. (the "Company") approved a recommendation by management to terminate the
services of its independent accountants KPMG Peat Marwick LLP, which acted as
its independent accountants with respect to the fiscal years ended June 30, 1995
and 1996. In connection with the audits for the two fiscal years ended June 30,
1996 and 1995, and the subsequent interim period through June 27, 1997, there
were no disagreements between the Company and KPMG Peat Marwick on any matter of
accounting principles or practice, financial statement disclosure or auditing
scope or procedure. Management of the Company had recommended the termination
of KPMG Peat Marwick LLP to the Board of Directors in order to significantly
reduce the Company's audit and income tax preparation costs. Management intends
to recommend a new accounting firm within the next several days.
During the last two fiscal years no report issued by KPMG Peat Marwick
contained an adverse opinion or a disclaimer of opinion, or was qualified or
modified as to uncertainty, audit scope, or accounting principles.
Item 7. Exhibits
16. Letter on change in certifying accountants from KPMG Peat Marwick LLP
2
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, as amended, the Registrant has duly caused this Report on Form 8-K to be
signed on its behalf by the undersigned hereunto duly authorized.
BITWISE DESIGNS, INC.
(Registrant)
By: /s/Dennis H. Bunt
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Dennis H. Bunt
Chief Financial Officer
Dated: July 2, 1997
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EXHIBIT INDEX
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16. Letter on change in certifying accountants from KPMG Peat Marwick LLP
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EXHIBIT 16
KPMG PEAT MARWICK LETTERHEAD
74 North Pearl Street
Albany, NY 12207
July 2, 1997
Securities and Exchange Commission
450 Fifth Street N.W.
Washington, D.C. 20549
Re: Bitwise Designs, Inc.
Commission File No. 0-20190
Dear Sir or Madam:
We were previously principal accountants for Bitwise Designs, Inc. and
subsidiaries and, under the date of September 6, 1996, we reported on the
consolidated financial statements of Bitwise Designs, Inc. and subsidiaries as
of and for the years ended June 30, 1996 and 1995. On June 27, 1997, our
appointment as principal accountants was terminated. We have read Bitwise
Designs, Inc.'s statements included under Item 4 of its Form 8-K dated June 27,
1997, and we agree with such statements, except that we are not in position to
agree or disagree with Bitwise Designs, Inc.'s stated reason for changing
principal accountants and Bitwise Designs, Inc.'s statement that the change was
recommended by management and approved by the board of directors.
Very truly yours,
KPMG PEAT MARWICK LLP
cc: Mr. Dennis Bunt
Bitwise Designs, Inc.
