UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K/A
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
May 10, 2005
International Debt Exchange Associates, Inc.
(Exact name of registrant as specified in its charter)
Texas 000-50431 75-3016844
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(State or other (Commission File Number ) (I.R.S. Employer
jurisdiction of) Identification No.)
7531 Aberdon Road, Dallas, Tx 75252
(Address of principal executive offices)
Registrant's telephone number, including area code
972.735.9064
ITEM 4.01. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.
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On April 21, 2005, the Company’s independent registered public accounting firm, Stonefield Josephson, Inc., tendered its resignation to the Company and it was accepted by the Board of Directors on that date. Stonefield Josephson’s audit reports on the financial statements for the year ending December 31, 2004, for the year ending December 31, 2003 did not contain any adverse opinion or disclaimer of opinion, and was not modified as to uncertainty, audit scope or accounting principles. However, both reports for the year ending December 31, 2004 and the report for the year ending December 31, 2003 included an explanatory paragraph wherein Stonefield Josephson, Inc. expressed substantial doubt about our ability to continue as a going concern.
At no time during the report for the year ending December 31, 2003 and for the report for the year ending December 31, 2004 and for the interim period of 2005, were there any disagreements, whether or not resolved, on any matter of accounting principles or practices, financial statement or disclosure or auditing scope or procedure.
Item 7. FINANCIAL STATEMENTS OR EXHIBITS.
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a. Financial Statements.
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None.
b. Exhibits.
Exhibit No. Description
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16
Letter of former accountants, Stonefield Josephson, Inc.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant had duly caused this report to be signed by the undersigned hereunto duly authorized.
Date: May 9, 2005 International Debt Exchange Associates, Inc.
/s/ Kenneth Graham
_____________________________
Kenneth Graham, President
EXHIBIT 16
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LETTER FROM STONEFIELD JOSEPHSON, INC.
May 10, 2005
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Re: International Debt Exchange Associates, Inc.
(Commission File Number 000-50431)
Dear Commissioners:
We have read the statements contained in Item 4.01 "Changes in Registrant's Certifying Accountant" of the Form 8-K/A of International Debt Exchange Associates, Inc. filed with the Securities and Exchange Commission on May 9, 2005 and agree with the statements contained therein.
Very truly yours,
/s/ Stonefield Josephson, Inc.
Certified Public Accountants
