SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Act of 1934
April 9, 1998
TAYCO DEVELOPMENTS, INC.
(Exact name of registrant as specified in charter)
New York 2-15966 16-0835557
(State or other (Commission File (IRS Employer
jurisdiction of Number) Identification No.)
incorporation)
100 Taylor Drive, North Tonawanda, NEW YORK 14120-0748
(Address of Principal Executive Offices) Zip Code
Registrant's telephone number, including area code - 716-694-0877
Item 4. Changes in Registrant's Certifying Accountant
(a) By unanimous consent of the Board of Directors of Tayco
Developments, Inc. (the "Registrant") on April 9, 1998, the
Registrant engaged the accounting firm of Lumsden & McCormick as
independent accountants for the Registrant effective April 9, 1998.
(b) The Board of Directors approved by unanimous consent, and
voted to dismiss the accounting firm of J.D. Elliott & Co., P.C.
from further service to the Company effective April 9, 1998.
(c) During the two most recent fiscal years ending June 30,
1996 and 1997 (there having been no professional services rendered
during the interim periods this present fiscal year ending June 30,
1998) there have been no disagreements with J.D. Elliott & Co.,
P.C. on any matter of accounting principles or practices, financial
statement disclosure, or auditing scope or procedure or any
reportable event.
(d) J.D. Elliott & Co., P.C.'s report on the Financial Statements
for the past two fiscal years contained no adverse opinion or
disclaimer of opinion. However, the Board of Directors decided
after careful consideration and review of accounting and auditing
fees that it would be economically advantageous for the Company to
obtain the service of another accounting firm.
(e) The Registrant has requested that J.D. Elliott & Co., P.C.
furnish it with a letter addressed to the Securities and Exchange
Commission stating whether it agrees with the above statements.
A copy of the Company's letter to J.D. Elliott & Co., P.C.
dated April 9, 1998 and copies of the letters dated April 13, 1998
of J.D. Elliott & Co., P.C. to the Company and the Commission are
attached as Exhibits 16(i), 16(ii), and 16(iii) respectively to
this Form 8-K.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1934,
the registrant has duly caused this report to be signed on its
behalf by the undersigned thereunto duly authorized.
Tayco Developments, Inc.
Date: April 9, 1998 by: /s/Douglas P. Taylor
Douglas P. Taylor
8-K Exhibit-16.(i)
April 9, 1998
J.D. Elliott & Co., P.C.
8685 Sheridan Drive
Williamsville, NY 14221-6399
Att: Michael Vanderwerf
Ref: Tayco Developments, Inc.
Gentlemen:
Your firm has been the audit firm for Tayco Developments, Inc. over
several years and at least for the past two fiscal years ending
with June 30, 1997. The Board of Directors has elected to change
accounting firms effective April 9, 1998 for economic reasons.
Enclosed is a Form 8-K to be filed with the Securities and Exchange
Commission. I would ask that you review this document. If there
are no disagreements, furnish us with a letter addressed to the
Securities and Exchange Commission indicating that you have no
disagreement. This letter will be attached as an exhibit to the
Form 8-K which the Company will file with the Securities and
Exchange Commission, to be received by April 15,1998.
Due to the limited time that we have to file this 8-K, I would ask
that this letter be faxed directly to me at 716-694-0216 and the
original forwarded to me directly by courier, with your invoice in
this matter, at 100 Taylor Drive, P.O. Box 748, North Tonawanda,
New York 14120-0748.
Thank you for your past services to the Company and for your
immediate attention to this matter.
Sincerely your,
TAYCO DEVELOPMENTS, INC.
/s/ Douglas P. Taylor
Douglas P. Taylor
President
8-K Exhibit-16.(ii)
J.D. Elliott & Co., P.C.
8685 Sheridan Drive
Williamsville, NY 14221-6399
April 13, 1998
Douglas P. Taylor, President
Tayco Developments, Inc.
100 Taylor Drive
P.O. Box 0748
North Tonawanda, NY 14120-9922
Dear Mr. Taylor:
This is to confirm that the client-auditor relationship between
Tayco Developments, Inc. (Commission File Number 2-15966) and J.D.
Elliott & Co., P.C. has ceased.
Very truly yours,
/s/J.D. Elliott & Co., P.C.
J.D. Elliott & Co., P.C.
cc: Office of the Chief Accountant
SECPS Letter File
Securities and Exchange Commission
Mail Stop 9-5
450 5th Street, NW
Washington, DC 20549
8-K Exhibit-16.(iii)
J.D. Elliott & Co., P.C.
8685 Sheridan Drive
Williamsville, NY 14221-6399
April 13, 1998
Securities and Exchange Commission
450 5th Street, NW
Washington, DC 20549
Re: Tayco Developments, Inc.
Gentlemen:
We have read and agree with the comments in Item 4 of Form 8-K of
Tayco Developments, Inc. dated April 9, 1998.
Very truly yours,
/s/J.D. Elliott & Co., P.C.
J.D. Elliott & Co., P.C.
cc: Douglas P. Taylor
