SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
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): June 5, 1998
U.S. GLOBAL INVESTORS, INC.
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(Exact name of registrant as specified in its charter)
Texas 0-13928 74-1598370
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(State of other juris- (Commission IRS Employer
diction of incorporation) File Number) Identification No.)
7900 Callaghan Road, San Antonio, Texas 78229
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 210-308-1234
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(Former name or former address, if changed since last report)
Item 4. Changes in Registrant's Certifying Accountant
(a) Previous independent accountants
(i) On June 5, 1998, U.S. Global Investors, Inc. dismissed
Price Waterhouse LLP as its independent accountants.
(ii) The reports of Price Waterhouse LLP on the financial
statements for the past two fiscal years contained no
adverse opinion or disclaimer of opinion and were not
qualified or modified as to uncertainty, audit scope
or accounting principle.
(iii) The Registrant's Audit Committee participated in and
approved the decision to change independent
accountants.
(iv) In connection with its audits for the two most recent
fiscal years and through June 5, 1998, there have
been no disagreements with Price Waterhouse LLP 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 Price Waterhouse LLP would have
caused them to make reference thereto in their report
on the financial statements for such years.
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(v) During the two most recent fiscal years and through
June 5, 1998, there have been no reportable events
(as defined in Regulation S-K Item 304(a)(1)(v)).
(vi) The Registrant has requested that Price Waterhouse
LLP furnish it with a letter addressed to the SEC
stating whether or not it agrees with the above
statements. A copy of such letter, dated June 11,
1998, is filed as an Exhibit to this Form 8-K.
(b) New independent accountants
(i) The Registrant engaged Ernst & Young LLP as its new
independent accountants as of June 8, 1998.
Item 7. Financial Statements, Information and Exhibits.
(b) None.
(c) Exhibits.
Letter from Price Waterhouse LLP
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.
U.S. Global Investors, Inc.
By: /s/ David J. Clark
David J. Clark
Chief Financial Officer
Chief Operating Officer
Dated: June 11, 1998
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EXHIBIT:
Price Waterhouse LLP
1201 Louisiana, Suite 2900
Houston, TX 77002-5678
Telephone 713/356-4000
Facsimile 713/356-4717
June 11, 1998
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Ladies and Gentlemen::
U.S. Global Investors, Inc.
We have read Item 4 of U.S. Global Investors, Inc.'s Form 8-K dated June 5, 1998
and are in agreement with the statements contained in paragraph 4(a) therein.
Yours very truly,
/s/ Price Waterhouse LLP
Price Waterhouse LLP
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