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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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): November 8, 1999
PDS FINANCIAL CORPORATION.
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(Exact name of registrant as specified in its charter)
Minnesota 0-23928 41-1605970
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(State or other jurisdiction (Commission file number) (IRS employer
of incorporation) identification No.)
6171 Mc Leod Drive, Las Vegas, Nevada 89120
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(Address of principal executive offices)
Registrant's telephone number, including area code: (702) 736-0700
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Not Applicable
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(Former name or former address, if changed since last report)
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Item 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.
On October 23, 1999, PDS Financial Corporation, (the "Company")
determined to solicit proposals to act as the Company's independent auditors
for the 1999 calendar year and invited its current independent auditors,
PricewaterhouseCoopers LLP ("PricewaterhouseCoopers") to submit a proposal to
the Company. The decision to solicit proposals was approved by the Audit
Committee of the Board of Directors of the Company. On November 8, 1999,
PricewaterhouseCoopers resigned as the independent accountants of the Company.
PricewaterhouseCoopers reports on the Company's financial statements
for its fiscal years ended December 31, 1998 and December 31, 1997 did not
contain any adverse opinion or a disclaimer of opinion, and were not
qualified or modified as to uncertainty, audit scope, or accounting
principles. In connection with its audits for the two most recent fiscal
years and through November 8, 1999, there have been no disagreements with
PricewaterhouseCoopers LLP on any any matter of accounting principles or
practices, financial statement disclosure, or auditing scope or procedure,
which disagreements if not resolved to the satisfaction of
PricewaterhouseCoopers LLP would have caused them to make reference thereto
in their report on the financial statements for such years. During the two
most recent fiscal years and through November 8, 1999 there have been no
reportable events, (as defined in Item 304(a)(1)(v) of Regulation S-K of the
Securities and Exchange Commission).
The Company has provided PricewaterhouseCoopers with a copy of this
Form 8-K and has requested that PricewaterhouseCoopers furnish it with a letter
addressed to the Commission stating whether it agrees with the above statements.
A copy of PricewaterhouseCoopers letter to the Commission is filed as an Exhibit
hereto.
Item 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL STATEMENTS AND EXHIBITS.
The following exhibit is filed with this report:
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Exhibit No. Description
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<S> <C>
16.1 Letter, dated November 15, 1999, of
PricewaterhouseCoopers LLP
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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.
November 15, 1999 PDS FINANCIAL CORPORATION
By: /s/ Steven M. Des Champs
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Name: Steven M. Des Champs
Title: Chief Financial Officer
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EXHIBIT INDEX
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<CAPTION>
Exhibit Description
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16.1 Letter, dated November 15, 1999, of PricewaterhouseCoopers LLP
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[Letterhead of PricewaterhouseCoopers]
November 15, 1999
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Commissioners:
We have read the statements made by PDS Financial Corporation (copy attached),
which we understand will be filed with the Commission, pursuant to Item 4 of
Form 8-K, as part of the Company's Form 8-K report dated November 15, 1999. We
agree with the statements concerning our Firm in such Form 8-K
Very truly yours,
/s/ PricewaterhouseCoopers LLP
PricewaterhouseCoopers LLP
