SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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):
July 21, 1997
UNITED TEXTILES & TOYS CORPORATION
(Exact name of registrant as specified in its charter)
Delaware O-21178 13-3626613
State of Commission File IRS Employer
Incorporation Number Identification No
448 West 16th Street
New York, New York 10011
Address of principal executive offices
Registrant's telephone number, including area code (212) 391-2272
N/A
(Former name or former address, if changed since last report)
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ITEM 4. CHANGES IN THE REGISTRANT'S CERTIFYING ACCOUNTANT.
On July 1, 1997, the board of directors of the Registrant authorized
the Registrant=s executive officers to engage Jerome Rosenberg, CPA, P.C. as the
Company's new auditing firm for the year ending March 31, 1997. Prior to
engaging Jerome Rosenberg, CPA, P.C. such accounting firm was not consulted on
any matters relative to the application of accounting principles on specified
transactions or in any matter that was the subject of a disagreement with the
prior accountants.
The change in accountants was not due to any discrepancies or
disagreements between the Company and Lazar Levine & Co pany LLP on any matter
of accounting principles or practices, financial statement disclosure, or
auditing scope or procedure.
The former accountants= reports on the Registrant=s financial
statements for the years ended March 31, 1995 and 1996 did not contain any
adverse opinions, disclaimer of opinion, nor were they qualified or modified as
to uncertainty, audit scope or accounting principles as required by Item 304
(a)(3) of Regulation S-B promulgated under the Securities Act of 1933, as
amended. The Company filed the required letter from Lazar Levine & Company LLP,
as to whether the accounting firm agrees with the statements made therein.
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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 this 21st day of July, 1997.
United Textiles & Toys Corporation
By: \s\ Ilan Arbel
Ilan Arbel
President
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