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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) May 1, 1998
CHROMATICS COLOR SCIENCES INTERNATIONAL, INC.
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(Exact name of registrant as specified in its charter)
New York
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(State or other jurisdiction of incorporation)
0-21168 13-3253392
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(Commission File Number) (IRS Employer Identification Number)
5 East 80th Street, New York, New York 10021
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (212) 717-6544
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ITEM 4. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT.
On May 1, 1998, Chromatics Color Sciences International (the
"Company") engaged BDO Seidman LLP ("BDO") as the principal accountant to audit
the Company's financial statements.
During the Company's two most recent fiscal years and the subsequent
interim period preceding the date of BDO's engagement neither the Company
nor any person on the Company's behalf consulted BDO regarding either (i)
the application of accounting principles to a specified transaction, or the
type of audit opinion that might be rendered on the Company's financial
statements, or (ii) any matter that was a subject of disagreement or a
reportable event.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(c) Exhibits:
99. Chromatics Color Sciences International, Inc. Press
Release, dated May 1, 1998.
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SIGNATURES
Pursuant to the requirements of the Securities and Exchange
Act of 1934, the Registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
CHROMATICS COLOR SCIENCES INTERNATIONAL, INC.
By: /s/ Darby S. Macfarlane
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Name: Darby S. Macfarlane
Title: Chief Executive Officer
Date: May 1, 1998
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EXHIBIT INDEX
Document Page Number
99. Chromatics Color Sciences International, Inc. Press Release
dated May 1, 1998 5
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Exhibit 99
Chromatics Color Sciences International, Inc.
Press Release
Contact: Darby S. Macfarlane
Chromatics Color Sciences International, Inc.
212-717-6544
or
Richard Wool
Hill and Knowlton, Inc.
212-885-0523
Chromatics Color Sciences Appoints BDO Seidman as New Accounting Firm
New York, May 1, 1998 - Chromatics Color Sciences International, Inc.
(NASDAQ: CCSI) announced today the appointment of BDO Seidman LLP as its
new independent auditors for the fiscal year ending December 31, 1998.
BDO Seidman is one of the nation's leading accounting and
consulting firms, with 1,600 partners and staff located throughout the
United States. It is the U.S. member firm of BDO International, the
world's seventh-largest accounting and consulting organization, with over
490 member firm offices in 84 countries.
"We are very pleased that BDO Seidman is going to serve as
Chromatics' new accounting firm," said Darby S. Macfarlane, chairperson
and chief executive officer of Chromatics. "BDO will provide us with
expanded consulting capabilities as well as an additional level of
financial reporting expertise as the Company accelerates its pace of
corporate development."
Chromatics Color Sciences is in the business of color science
and has developed technologies and intellectual properties which it
believes have medical applications involving the detection and monitoring
of certain chromogenic diseases or disorders such as bilirubin infant
jaundice. The Company defines chromogenic diseases or disorders as those
diagnosed or monitored by the coloration of the human skin, tissue or
fluid being affected. In this regard, the Company has received Food and
Drug Administration (FDA) clearance for commercial marketing of its
medical device for detection and monitoring of bilirubin infant jaundice.
Other medical applications will require additional clinical
trials and FDA clearance. The Company's technologies and intellectual
properties also have other applications, including the scientific color
measurement and classification of human skin, certain color-sensitive
consumer products, and in determining the color compatibility of such
skin and product color classification for use in a variety of industries
including the cosmetic, beauty-aid and fashion industries.
Certain of the matters discussed in this announcement contain
forward-looking statements that involve material risks to and
uncertainties in the Company's business which may cause actual results to
differ materially from those anticipated by the statements made herein.
Such risks and uncertainties include, among other things, the
availability of any needed financing, the Company's ability to implement
its long range business plan for various applications for its
technologies, the impact of competition, the obtaining of further
regulatory clearances applicable to proposed new applications of the
Company's technology, management of growth and other risks and
uncertainties that may be detailed from time to time in the Company's
reports filed with the Securities and Exchange Commission, including
those set forth in its annual report on Form 10-K for the year ended
December 31, 1997.
