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): October 8, 2003
Comtex News Network, Inc.
(Exact name of registrant as specified in its charter)
Delaware 0-10541 13-3055012
(State or
other jurisdiction (SEC File Number) (I.R.S. Employer
of incorporation) Identification No.)
Registrant's telephone number, including area code: (703) 820-2000
Not Applicable
(Former name or former address, if changed since last report)
Item 4. Change in Registrant's Certifying Accountant
(a) On October 8, 2003, Ernst & Young LLP ("E&Y")
resigned as the outside independent auditor for the
Registrant. The Registrant has engaged Goldstein Golub
Kessler, LLP ("GGK") as its new independent auditor,
effective October 14, 2003.
E&Y's reports on the consolidated financial statements
of the Registrant for the past two fiscal years ended June
30, 2003 and June 30, 2002 did not contain adverse opinion
or a disclaimer of opinion and were not qualified or
modified as to uncertainty, audit scope or accounting
principles, except that the report of E&Y on Registrant's
financial statements for the fiscal year ended June 30, 2003
indicated there was substantial doubt regarding Registrant's
ability to continue as a going concern. GGK has been engaged
to audit the consolidated financial statements of the
Registrant as of and for the year ending June 30, 2004. The
engagement of GGK was approved by the Registrant's Audit
Committee.
During the two years ended June 30, 2003 and the
interim period through the date of this Report, the
Registrant had no disagreements with E&Y on any matter of
accounting principles or practices, financial statement
disclosure or auditing scope or procedure which
disagreements, if not resolved to the satisfaction of E&Y,
would have caused it to make reference to the subject matter
of the disagreements in connection with its report.
The Registrant has provided E&Y a copy of the
disclosures contained in this Report, which was received by
E&Y on the date of this Report. The Registrant has
requested E&Y to furnish the Registrant with a letter in
response to Item 304(a) of Regulation S-K. Such letter is
included in this Report as Exhibit 16.1.
(b) GGK was engaged by the Registrant on October 14,
2003 to audit the consolidated financial statements of the
Registrant as of and for the year ending June 30, 2004.
During the two years ended June 30, 2003 and the subsequent
interim period through the date of this Report, the
Registrant did not consult with GGK regarding any of the
matters set forth in Item 304(a)(2)(i) or (ii) of Regulation
S-K.
Item 7. Financial Statements and Exhibits
Exhibits
Exhibit Number Exhibit Description
16.1 Letter of Ernst & Young
LLP regarding change in certifying
accountant
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.
COMTEX NEWS NETWORK, INC.
DATE: October 14, 2003 By: /s/ Stephen W. Ellis
Stephen W. Ellis
Chairman and Chief Executive
Officer
EXHIBIT 16.1
[letterhead of Ernst & Young, LLP]
October 14, 2003
Securities and Exchange Commission
450 Fifth St., N.W.
Washington, D.C. 20549
Gentlemen:
We have read Item 4 of the Form 8-K dated October 14, 2003 of
Comtex News Network, Inc. and are in agreement with the
statements contained in the first sentence of paragraphs 1 and 2,
and the statements in paragraphs 3, 4, and 5. We have no basis
to agree or disagree with other statements of the Registrant
contained therein.
/s/ Ernst & Young, LLP