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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 1)
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Date of Report (Date of Earliest Event Reported): June 14, 2002
ADELPHIA BUSINESS SOLUTIONS, INC.
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(Exact Name of Registrant as Specified in its Charter)
DELAWARE
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(State or Other Jurisdiction of Incorporation)
000-21605 25-1669404
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(Commission File Number) (I.R.S. Employer Identification No.)
ONE NORTH MAIN STREET
COUDERSPORT, PA 16915-1141
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(Address of Principal Executive offices) (Zip Code)
(814) 274-9830
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(Registrant's Telephone Number, Including Area Code
NOT APPLICABLE
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(Former Name or Former Address, if changed Since Last Report)
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ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.
On June 14, 2002, Adelphia Business Solutions, Inc. (the "Company") received an
unsolicited 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.
In response to the Company's query as to the circumstances surrounding this
letter, Deloitte declined to provide further clarification other than to note
that on June 9, 2002, Adelphia Communications Corporation ("Adelphia") dismissed
Deloitte as its independent public accountants. Prior to January 11, 2002, the
Company was a majority-owned subsidiary of Adelphia. Based on these
circumstances, the Company hereby takes the position that Deloitte resigned as
its independent public accountants effective as of June 14, 2002.
On May 14, 2002, Deloitte suspended its audit of the financial statements of
Adephia. Upon suspending its audit of the financial statements of Adelphia,
Deloitte also ceased its audit of the financial statements of the Company. As of
the June 14, 2002, the date on which the Company received the aforementioned
resignation letter from Deloitte, 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 resign as 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 July 3, 2002, the Company transmitted Deloitte by e-mail a draft of the
disclosures made in this amended Item 4. 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
(previously filed).
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
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Name: Edward E. Babcock
Title: Vice President, Finance
Date: July 3, 2002.
EXHIBIT INDEX
Exhibit No. Exhibit
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99.1 Letter, dated June 14, 2002, from Deloitte & Touche LLP
(previously filed).