SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities and Exchange Act of 1934
Date of Report: December 13, 2000
(Date of earliest event reported)
XECHEM INTERNATIONAL, INC.
(Exact name of registrant as specified in the charter)
Delaware 0-23788 32-3284403
(State or other jurisdiction (Commission File No.) (IRS Employer
of incorporation) Identification No.)
100 Jersey Avenue, Building B, Suite 310
New Brunswick, New Jersey 08901-3279
(Address of Principal Executive Offices)
(732) 247-3300
Registrant's telephone number including area code)
(Former name or former address, if changed since last report)
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ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT
On December 6, 2000, Xechem International, Inc. (the "Registrant")
announced that it had decided to terminate its relationship with its independent
accountants, Wiss and Company, LLP, and had engaged Grant Thornton, LLP as the
Registrant's independent accountants to audit and report on the Registrant's
annual financial statements for the year ending December 31, 2000. The Audit
Committee of the Registrant approved this decision. Over the last two years, the
report of Wiss & Company, LLP contained a statement that there were doubts about
the ability of the Registrant to continue as a going concern. The Company
disagreed with Wiss & Company's requirement to use quoted market value (where
there was no objective evidence of fair value) in valuing stock issued to
employees. Further, it disagreed with Wiss & Company to value shares issued to
consultants at fair value. The Company had originally used par value but
ultimately accepted Wiss' position. These matters were discussed on July 7, 2000
with the Audit Committee. Except for these valuations, at no time during the
Registrant's two most recent years, and any subsequent interim period before
retaining Grant Thornton, LLP, did Registrant have any disagreements with Wiss
and Company, LLP concerning accounting principles or practices, financial
statement disclosure or auditing scope or procedure. At no time during the
Registrant's two most recent fiscal years, and any subsequent interim period
prior to engaging Grant Thornton, LLP, did the Registrant consult Grant
Thornton, LLP regarding: (i) either: the application of accounting principles to
a specified transaction, either completed or proposed, 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 as defined in paragraph
304(a)(1)(iv) of Regulation S-K and the related instructions or a reportable
event described in paragraph 304(a)(1)(v). At no time during the Registrant's
two most recent fiscal years and the interim period through December 6, 2000
were there any reportable events with Wiss and Company, LLP, as described in
Item 304(a)(1)(v) of Regulation S-K.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(b)(i) Letter from Wiss and Company, LLP
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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.
XECHEM INTERNATIONAL, INC.
Dated: December 13, 2000 By: /s/ Dr. Ramesh C. Pandey
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Its: President and Chairman of the
Board of Directors
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