================================================================================
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): June 14, 2002
ADELPHIA BUSINESS SOLUTIONS, INC.
- --------------------------------------------------------------------------------
(Exact Name of Registrant as Specified in its Charter)
DELAWARE
- --------------------------------------------------------------------------------
(State or Other Jurisdiction of Incorporation)
000-21605 25-1669404
- -------------------------------------- ----------------------------------------
(Commission File Number) (I.R.S. Employer Identification No.)
ONE NORTH MAIN STREET
COUDERSPORT, PA 16915-1141
- --------------------------------------------------------------------------------
(Address of Principal Executive offices) (Zip Code)
(814) 274-9830
- --------------------------------------------------------------------------------
(Registrant's Telephone Number, Including Area Code
NOT APPLICABLE
- --------------------------------------------------------------------------------
(Former Name or Former Address, if changed Since Last Report)
================================================================================
ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.
On June 14, 2002, Adelphia Business Solutions, Inc. (the "Company") received a
letter from Deloitte & Touche LLP ("Deloitte"), its former independent
accountants, notifying the Company that the client-auditor relationship between
the Company and Deloitte had ceased. A copy of this letter is attached hereto as
Exhibit 99.1 and incorporated herein by reference.
On May 14, 2002, Deloitte suspended its audit of the financial statements of
Adephia Communications Corporation ("Adelphia"). Prior to January 11, 2002, the
Company was a majority-owned subsidiary of Adelphia. Accordingly, upon
suspending its audit of the financial statements of Adelphia, Deloitte ceased
its audit of the financial statements of the Company. On June 9, 2002, Adelphia
dismissed Deloitte as its independent public accountants. As of the June 14,
2002, the date on which Deloitte notified the Company that it would cease being
the Company's independent public accountants, Deloitte had not completed its
audit nor had it issued its report with respect to the Company's financial
statements for the year ended December 31, 2001. Accordingly, the Company has
not yet completed its financial statements or filed its Annual Report on Form
10-K for the year ended December 31, 2001, nor has the Company filed its
Quarterly Report on Form 10-Q for the quarter ended March 31, 2002. Neither the
Board of Directors of the Company nor the Audit Committee of the Board of
Directors of the Company took any action with respect to Deloitte's decision to
cease being the Company's independent public accountants.
The report of Deloitte on the financial statements of the Company for the year
ended December 31, 2000 contained no adverse opinion or disclaimer of opinion
and was not qualified or modified as to uncertainty, audit scope or accounting
principles. During the years ended December 31, 2000 and December 31, 2001, and
through the date of this Current Report, the Company had no disagreements with
Deloitte on any matter of accounting principles or practices, financial
statement disclosure or audit scope or procedure that, if not resolved to the
satisfaction of Deloitte, would have caused it to make reference to the subject
matter of such disagreement in its reports on the financial statements.
There were no reportable events with respect to the Company within the meaning
of Item 304(a)(1)(v) of Regulation S-K for the years ended December 31, 2001 and
December 31, 2000 and through the date of this Current Report.
The Company has not yet determined who it intends to appoint as its independent
public accountants on a going forward basis. Upon making such appointment, the
Company will file a subsequent Current Report on Form 8-K in accordance with the
requirements of that form.
On June 28, 2002, the Company transmitted by e-mail a draft of the disclosures
made under this Item 4 to Deloitte pursuant to Item 304(a)(3) of Regulation S-K.
2
Item 304(a)(3) of Regulation S-K requires that Deloitte furnish the Company with
a letter addressed to the Commission stating whether it agrees with the
statements made by the Company in response to this Item 4 and, if not, stating
the respects in which it does not agree. Upon the Company's receipt from
Deloitte of this letter, the Company shall file such letter with the Commission
by amendment to this Current Report on Form 8-K.
ITEM 7(C). EXHIBITS.
99.1 Letter, dated June 14, 2002, from Deloitte & Touche LLP.
3
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the registrant has duly caused this Report to be signed on its behalf
by the undersigned thereunto duly authorized.
ADELPHIA BUSINESS SOLUTIONS, INC.
By: /s/ Edward E. Babcock
------------------------------------
Name: Edward E. Babcock
Title: Vice President, Finance
Date: July 1, 2002.
4
EXHIBIT INDEX
Exhibit No. Exhibit
- ----------- -------
99.1 Letter, dated June 14, 2002, from Deloitte & Touche LLP.
5