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): April 24, 1997
KOALA CORPORATION
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(Exact name of Registrant as specified in its charter)
Colorado 0-22464 84-1238908
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(State or other (Commission (I.R.S. Employer
jurisdiction File Number) Identification No.)
of incorporation)
11600 E. 53rd Avenue, Unit D
Denver, CO 80239
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(Address of principal executive offices)(zip code)
Registrant's telephone number, including area code (303) 574-1000
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Not Applicable
(Former name or former address, if changed since last report)
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Item 4. Change in Registrant's Certifying Accountant
(a) Previous independent accountants.
(i) On April 24, 1997, the Registrant dismissed Blanski Peter Kronlage
& Zoch, P.C., which served as the Registrant's independent accountants
since 1993.
(ii) The reports of Blanski Peter Kronlage & Zoch, P.C. on the
financial statements for the past two fiscal years of the Registrant
contained no adverse opinion or disclaimer of opinion and were not
qualified or modified as to uncertainty, audit scope or accounting
principle.
(iii) The Registrant's Audit Committee approved the decision to change
independent accountants.
(iv) In connection with its audits for the two most recent fiscal
years and through April 24, 1997, there were no disagreements with Blanski
Peter Kronlage & Zoch, P.C. on any matter of accounting principles or
practices, financial statement disclosure, or auditing scope or procedure,
which disagreements if not resolved to the satisfaction of Blanski Peter
Kronlage & Zoch, P.C., would have caused Blanski Peter Kronlage & Zoch,
P.C. to make reference thereto in their report on the financial statements
for such years.
(v) The Registrant has requested that Blanski Peter Kronlage & Zoch,
P.C. furnish it with a letter addressed to the Commission stating whether
or not it agrees with the above statements. A copy of such letter, dated
April 28, 1997, is filed as Exhibit 16.1 to this Form 8-K.
(b) New independent accountants.
The Registrant engaged Ernst & Young LLP as its new independent accountants
as of April 24, 1997. This was approved by the Registrant's Board of Directors
on April 24, 1997. During the two most recent fiscal years and through April 24,
1997, the Registrant has not consulted with Ernst & Young LLP regarding either:
(i) the application of accounting principles to a specified
transaction, either completed or contemplated; or the type of audit opinion
that might be rendered on the Registrant's financial statements; or
(ii) any matter that was either the subject of a disagreement or event
identified in response to Item 304(a)(1)(iv) of Regulation S-B and the
related instructions to Item 304 of Regulation S-B.
ITEM 7. Financial Statements and Exhibits
a. Exhibits
Exhibit 16.1 Letter from Blanski Peter Kronlage & Zoch, P.C.
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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.
KOALA CORPORATION
Date: April 28, 1997 /s/ Mark A. Betker
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By: Mark A. Betker, President
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Exhibit 16.1
Letterhead of Blanski Peter Kronlage & Zoch, P.C.
April 28, 1997
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Ladies and Gentlemen:
Re: Koala Corporation Commission File Number 022464
We have read Item 4 of Koala Corporation's Form 8-K dated April 28,
1997, and are in agreement with the statements contained in paragraph 4(a)
therein.
Sincerely yours,
/s/ Blanski Peter Kronlage & Zoch, P.C.
