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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
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) February 14, 2000
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JUST TOYS, INC.
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(Exact Name of Registrant as Specified in Charter)
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Delaware 0-20612 13-3677074
(State or Other Jurisdiction of (Commission File Number) (I.R.S. Employer
Incorporation) Identification Number)
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20 Livingstone Avenue
Dobbs Ferry, New York 10522
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (914) 674-8697
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Item 4. Changes in Registrant's Certifying Accountant.
On February 9, 2000, the Registrant replaced Ernst & Young LLP ("E&Y")
as its principal independent accountants and engaged Edward Isaacs & Company LLP
("Isaacs") as its new principal independent accountants to audit the
Registrant's financial statements. The decision to change accountants was
recommended and unanimously approved by the audit committee of the board of
directors of the Registrant.
The reports of E&Y on the Registrant's financial statement for the past
two fiscal years did not contain an adverse opinion or disclaimer of opinion and
neither statement was qualified or modified as to uncertainty, audit scope or
accounting principles. During the Registrant's two most recent fiscal years
ended December 31, 1998 and 1997, and the subsequent interim period preceding
the replacement of E&Y, there were no disagreements with E&Y on any matter of
accounting principles or practices, financial statement disclosure, or auditing
scope or procedures, which disagreements, if not resolved to the satisfaction of
E&Y, would have caused it to make reference to the subject matter of the
disagreements in their report. There were no "reportable events" as that term is
described in Item 304(a)(1)(v) of Regulation S-K with respect to the Registrant
during the Registrant's two most recent fiscal years and the subsequent interim
period preceding the replacement of E&Y.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(c) Exhibits
Exhibit Description
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16.1 Letter of E&Y dated February 14, 2000 to the
Securities and Exchange Commission.
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SIGNATURE
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.
JUST TOYS, INC.
February 14, 2000 By: /s/ JERRY CARROLL
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Chief Operating Officer
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Exhibit Index
Exhibit Description
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16.1 Letter of E&Y dated February 14, 2000 to the
Securities and Exchange Commission
EXHIBIT 16.1
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, DC 20549
Gentlemen:
We have read Item 4 of Form 8-K dated February 14, 2000, of Just Toys, Inc. and
are in agreement with the statements contained in the second paragraph therein.
We have no basis to agree or disagree with other statements of the registrant
contained therein.
/s/ Ernst & Young LLP
New York, New York
February 14, 2000
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Shack & Siegel, P.C.
530 Fifth Avenue
New York, NY 10036
(212) 782-0700
February 14, 2000
VIA EDGAR
Securities and Exchange Commission
450 Fifth Street, NW
Washington, D.C. 20549
Re: Just Toys, Inc.
Current Report on Form 8-K
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Ladies and Gentlemen:
On behalf of Just Toys, Inc. (the "Company"), and pursuant to Regulation
S-T and Section 15(d) of the Securities Exchange Act of 1934, as amended,
transmitted herewith is a copy of the Company's Current Report on Form 8-K.
If you have any questions or comments with respect to this filing, please
do not hesitate to contact the undersigned.
Very truly yours,
/s/ Jennifer L. Miller
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Jennifer L. Miller
