SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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) April 30, 2001
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IGENE Biotechnology, Inc.
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(Exact Name of Registrant as Specified in Charter)
Maryland 0-15888 52-230461
____________________________ _____________ ____________________________
(State of Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
9110 Red Branch Road, Columbia, Maryland 21045
____________________________________________________________
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code 410-997-2599
____________________
N/A
___________________________________________________________
(Former Name or Former Address, if Changed Since Last Report)
Item 4. Changes in Registrant's Certifying Accountant
On April 30, 2001, Igene Biotechnology, Inc., (the "Company") dismissed
Berenson & Company, LLP ("Berenson") as its certifying accountant. Berenson
performed the audit of the Company's financial statements for the years ended
December 31, 2000 and 1999. During these periods and for the period from
January 1, 2001 to April 30, 2001, there were no disagreements, whether or
not resolved, between the Company and Berenson on any matter of accounting
principles or practices, financial statement disclosure, or auditing scope or
procedure, which, if not resolved to Berenson's satisfaction, would have
caused Berenson to make reference to the subject matter of the disagreement(s)
in connection with its audit reports on the Company's financial statements.
For each of the years ended December 31, 2000 and 1999, Berenson issued audit
reports on the Company's financial statements. Neither audit report contained
an adverse opinion or disclaimer of opinion, or was modified as to audit scope
or accounting principles. However, the audit reports for each of the years
ended December 31, 2000 and 1999 were modified as to uncertainty about the
Company's ability to continue as a going concern due to the Company's recurring
losses and limited capitalization.
On April 30, 2001, the Company engaged the firm of Stegman & Company
("Stegman") to audit the Company's financial statements for fiscal year 2001 as
its certifying accountant. The decision to change accountants and appoint
Stegman was recommended by the Audit Committee of the Board of Directors on
April 27, 2001.
There were no consultations between the Company and Stegman regarding the
application of accounting principles to any matter, or as to any type of
opinion that might be issued on the Company's financial statements.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(a) Financial Statements of Businesses Acquired
Not applicable.
(b) Pro Forma Financial Information
Not applicable.
(c) Exhibits
(16) Letter of Berenson & Company, LLP pursuant to
Item 304(q)(3) of Regulation SB - Filed herewith.
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.
IGENE Biotechnology, Inc.
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(Registrant)
Date April 30, 2001 By /s/ Stephen F. Hiu
________________________ ______________________________________
Stephen F. Hiu
President and Treasurer
Exhibit 16 - Letter of Berenson & Company, LLP
[Letterhead of Berenson & Company, LLP]
April 30, 2001
Securities and Exchange Commission
Mail Stop 11-3
450 5th Street
Washington, DC 20549
Dear Sirs/Madams:
We have read and agree with the comments in the first paragraph as presented
in Item 4 of Form 8-K of IGENE Biotechnology, Inc. dated April 30, 2001
("Form 8-K"). We have no basis to agree or disagree with the comments in
second and third paragraphs in Item 4 of the Form 8-K.
Respectfully,
/s/ Berenson & Company, LLP