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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) - November 20, 2000
DATA RACE, INC.
(Exact name of registrant as specified in its charter)
TEXAS
(State or other jurisdiction of incorporation)
0-20706 74-2272363
(Commission File Number) (I.R.S. Employer
Identification No.)
6509 Windcrest Drive, Suite 120
Plano, Texas 75024
(972) 265-4000
(Address of Principal Executive Offices and Telephone Number,
Including Area Code)
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Item 4. Changes in Registrant's Certifying Accountants.
KPMG LLP was previously the principal accountants for Data Race, Inc. (the
"Registrant"). On November 20, 2000, KPMG LLP resigned.
During the Registrant's two most recent fiscal years ended June 30, 2000
and the subsequent interim period through September 30, 2000, there were no
disagreements between the Registrant and KPMG LLP 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
matter of the disagreement, except for the following:
Initially the Registrant disagreed with KPMG's position on revenue
recognition in regards to a specific transaction on product shipment for the
quarter ended September 30, 2000. Ultimately the Registrant complied with KPMG's
recommendation and did not recognize revenue in the first quarter of fiscal 2001
on this transaction. The Registrant's Audit Committee discussed this matter with
KPMG LLP and the Registrant has authorized KPMG LLP to respond fully to the
inquiries of the successor accountant concerning the subject matter of this
disagreement.
The audit reports of KPMG LLP on the financial statements of Data Race,
Inc. as of and for the fiscal years ended June 30, 2000 and 1999, 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
KPMG LLP is attached as Exhibit 16.1.
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SIGNATURES
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.
DATA RACE, Inc.
Date: November 28, 2000 By: /S/ JAMES G. SCOGIN
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James G. Scogin,
Vice President-Finance, Chief Financial
Officer and Secretary
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EXHIBIT INDEX
Exhibit Description
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16.1 Letter from KPMG LLP
99.1 Press release dated November 21, 2000.
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