| | | On October 16, 2002, DiSanto Bertoline & Company, P.C. ("DiSanto Bertoline") resigned as the Company's independent public accountants. This resignation results from DiSanto Bertoline's merger with Carlin, Charron & Rosen LLP effective October 16, 2002.
DiSanto Bertoline’s reports on the Company's consolidated financial statements for each of the years ended 2002 and 2001 did not contain an adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope or accounting principles.
During the years ended June 30, 2002 and June 29, 2001 and through the date hereof, there were no disagreements with DiSanto Bertoline on any matter of accounting principle or practice, financial statement disclosure, or auditing scope or procedure which, if not resolved to DiSanto Bertoline's satisfaction, would have caused them to make reference to the subject matter in connection with their report on the Company's consolidated financial statements for such years; and there were no reportable events as defined in Item 304(a)(1)(iv) of Regulation S-B.
The Company provided DiSanto Bertoline with a copy of the foregoing disclosures. Attached as Exhibit 16 is a copy of DiSanto Bertoline's letter, dated October 16, 2002, stating its agreement with such statements.
Effective October 16, 2002, the Board of Directors, based upon a recommendation of its Audit Committee, retained Carlin, Charron & Rosen LLP (“CCR”) as its independent auditors to audit the Company's consolidated financial statements for the year ending June 30, 2003. During the years ended June 30, 2002 and June 29, 2001 and through the date hereof, the Company did not consult CCR with respect to 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 Company's consolidated financial statements, or any other matters or reportable events as set forth in Items 304(a)(2)(i) and (ii) of Regulation S-B.
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