SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities and Exchange Act
of 1934
Date of Report (Date of earliest
event reported) September 14, 1998
LEC Technologies, Inc.
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(Exact name of registrant as specified in charter)
Delaware 0-18303 11-2990598
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(State or other juris- (Commission (IRS Employer
diction of File Number) Identification
incorporation) Number)
6540 S. Pecos Road, Suite 103, Las Vegas, Nevada 89120
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (702)454-7900
N/A
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(Former name or former address, if changed since last report.)
Item 4. Changes in Registrant's Certified Accountant.
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(a)(1)(i) On September 14, 1998, LEC Technologies, Inc. (the
"Registrant") terminated its relationship with KPMG Peat Marwick
LLP (the "Former Accountant"), its principal accountants.
(ii) The Former Accountant's reports on the
consolidated financial statements for the years ended December 31,
1996 and 1997 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.
(iii) The decision to change accountants was approved
by the Board of Directors.
(iv)(A) During the Registrant's last two fiscal years
and the subsequent interim periods through the date of the
termination of the Former Accountant, there were no disagreements
with the Former Accountant, whether or not resolved, 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 the Former Accountant, would
have caused it to make reference to the subject matter of the
disagreements in connection with its report.
(iv)(B) In connection with the Former Accountant's
audit of the Registrant's 1997 consolidated financial statements,
the Former Accountant advised the registrant of the following
reportable conditions in connection with the Registrant's system of
internal controls; reconciliation of intercompany accounts,
controls over shipping and receiving logs, controls over inventory
on trial, and segregation of duties. The Registrant believes that
the first three items and certain of the matters in the fourth item
have been corrected.
(iv)(E) The Registrant has authorized the Former
Accountant to respond fully to the inquiries of the successor
accountant concerning the subject matter of the reportable
conditions relative to the Registrant's system of internal
controls.
(a)(2) Not applicable.
(a)(3) A letter from the Former Accountant addressed to the
Securities and Exchange Commission stating that the Former
Accountant agrees with the statements made by the Registrant in
this report has been filed as Exhibit 16.1 to this report.
Item 7. Financial Statements and Exhibits.
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(c) Exhibit
16.1. Letter from KPMG Peat Marwick LLP
SIGNATURE
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 thereunto duly authorized.
LEC TECHNOLOGIES, INC.
Dated: September 18, 1998 By: /s/ Michael F. Daniels
Las Vegas, Nevada ----------------------
Michael F. Daniels, Chief
Executive Officer and President