UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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): March 5, 2004
Wellco Enterprises, Inc.
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(Exact name of registrant as specified in its charter)
North Carolina 1-5555
(State of incorporation) (Commission File Number)
56-0769274
(IRS Employer Identification No.)
150 Westwood Circle
P.O. Box 188
Waynesville, NC 28786
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (828) 456-3545
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Not Applicable
(Former name or former address, if changed since last report)
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Item 4. Changes in Registrant's Certifying Accountant
At a meeting held on March 4, 2004, the audit committee of the Board of
Directors of the Company approved the engagement of Dixon Hughes PLLC, the
successor in the merger of its current independent auditors, Crisp Hughes Evans
LLP, and the firm of Dixon Odom PLLC, as its independent auditors effective with
the successful merger of the two firms. On March 1, 2004, the audit committee of
the Board of Directors was notified that the merger of the two firms was
completed and that the firm of Crisp Hughes Evans LLP would no longer be
providing any services as independent auditors.
Crisp Hughes Evans LLP was engaged on March 17, 2003 and performed their first
audit of the Company's consolidated financial statements for the year ended June
28, 2003. The report of Crisp Hughes Evans LLP on the Company's consolidated
financial statements for the past fiscal year ended June 28, 2003 did not
contain an adverse opinion or a disclaimer of opinion and were not qualified or
modified as to uncertainty, audit scope, or accounting principles, nor was there
any event of the type requiring disclosure under Item 304(a)(1)(v) of Regulation
S-K.
In connection with the audit of the Company's consolidated financial statements
for the fiscal year ended June 28, 2003, and through the date of this Form 8-K,
there were no disagreements with Crisp Hughes Evans LLP on any matters of
accounting principles or practices, financial statement disclosure, or auditing
scope and procedures which, if not resolved to the satisfaction of Crisp Hughes
Evans LLP would have caused Crisp Hughes Evans LLP to make reference to the
matter in their report. The Company has provided Crisp Hughes Evans LLP with a
copy of the disclosures contained in this report, and has requested Crisp Hughes
Evans LLP to furnish it a letter addressed to the Commission stating whether it
agrees with the above statements. A copy of that letter, dated March 5, 2004 is
filed as Exhibit 16.
During the Company's two most recent fiscal years and through the date of this
Form 8-K, the Company did not consult Dixon Odom PLLC prior to its merger with
Crisp Hughes Evans LLP forming the new firm of Dixon Hughes PLLC with respect to
the application of accounting principles to a specific 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 listed in Items 304(a)(2)(i) or (ii) of Regulation S-K.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(c) Exhibits.
16 Crisp Hughes Evans LLP letter to the Securities and Exchange
Commission dated March 5, 2004.
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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.
Date: March 5, 2004 Wellco Enterprises, Inc.
By: /s/David Lutz.
David Lutz
President and
Chief Financial Officer
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INDEX TO EXHIBITS
Exhibit Number and Description
16.1 Crisp Hughes Evans LLP letter to the Securities and Exchange Commission
dated March 5, 2004.
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EXHIBIT 16 TO FORM 8-K
March 5, 2004
Office of the Chief Accountant
Securities and Exchange Commission
450 Fifth Street, NW
Washington, D.C. 20549
Commissioners:
We have read Item 4 included in the Form 8-K dated March 5, 2004 of Wellco
Enterprises, Inc. to be filed with the Securities and Exchange Commission and
are in agreement with the statements contained therein.
Very truly yours,
/s/ Crisp Hughes Evans LLP
Crisp Hughes Evans LLP
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