SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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) July 18, 1998
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Diamond Equities, Inc.
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(Exact Name of Registrant as Specified in Charter)
Nevada 0-24138 88-0232816
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(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
2010 E. University Drive, Ste. 3, Tempe Arizona 85281
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (602) 921-2760
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N/A
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(Former Name or Former Address, if Changed Since Last Report)
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ITEM 4 CHANGE IN REGISTRANTS CERTIFYING ACCOUNTANTS
On June 30, 1998, the Registrant dismissed its independent auditors Wisan,
Smith, Racker & Prescott, L.L.P. effective as of that date. The reason for the
dismissal was that the Registrant, with its offices located in Tempe, Arizona
and the previous auditors' office located in Salt Lake City, Utah, the
Registrant found that the distance factor was inconvenient and the Registrant
decided it preferred to engage a local auditing firm.
On June 30, 1998, the Registrant executed an engagement letter with its new
auditor, King, Weber & Associates, P.C., certified public accountants, 1400 E.
Southern Avenue, Ste. 735, Tempe, Arizona 85282.
The previous accountant's report on the financial statements for the past
two years did not contain an adverse opinion or disclaimer of opinion or was
qualified or modified as to uncertainty, audit scope or accounting principles.
The decision to change accountants was approved by the Board of Directors
of the Registrant.
During the two most recent fiscal years and interim period, there were no
disagreements with the former accountants on any matter of accounting principles
or accounting practices, financial statement disclosure, or auditing scope or
procedure.
(See former accountant's letter attached hereto as Exhibit 99)
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(a) Financial Statements.
Not Applicable
(b) Exhibits.
99.- Accountants letter
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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.
DIAMOND EQUITIES, INC.
Date: July 10, 1998 By: /s/ David D. Westfere
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David D. Westfere, President
[LETTERHEAD OF WISAN, SMITH, RACKER & PRESCOTT, L.L.P.]
July 10, 1998
Securities and Exchange Commission
Mailstop 9-5
Washington, DC 20529
Dear Sirs/Madams:
We have read Item 4 of Form 8-K of Diamond Equities, Inc. (the "Registrant") as
filed with the Securities and Exchange Commission on July 10, 1998 (the "Form
8-K") and have the following comments:
We have no disagreement with any of the statements made in the Form 8-K
and therefore agree with the statements made.
Very Truly Yours,
WISAN, SMITH, RACKER & PRESCOTT, L.L.P.
By: /s/ Bruce R. Wisan
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Its: Managing Partner
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cc: Diamond Equities, Inc.
