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 Act of 1934
Date of Report (Date of Earliest Event Reported): March 1, 2001
EchoCath, Inc.
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(Exact Name of Registrant as Specified in Its Charter)
New Jersey 22-3273101
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(State or Other Jurisdiction (I.R.S. Employer
of Incorporation or Organization) Identification Number)
P.O. Box 7224
Princeton, New Jersey 08543
(609) 987-8400
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(Address, Including Zip Code, and Telephone Number, Including
Area Code, of Registrant's Principal Executive Offices)
Item 4. Changes in Registrant's Certifying Accountant
On March 1, 2001, the Company notified its independent accountants, KPMG LLP
("KPMG") that the auditing services of KPMG would no longer be required. KPMG's
dismissal was approved by the Company's Board of Directors.
In connection with the audits of the two fiscal years ended August 31, 2000 and
the subsequent interim period through March 1, 2001, there were no disagreements
with KPMG on any matters of accounting principles or practices, financial
statement disclosures, or auditing scope or procedures, which disagreement(s),
if not resolved to the satisfaction of KPMG, would have caused them to make
reference to the subject matter of the disagreement(s) in connection with their
opinion.
KPMG LLP's auditors' report on the financial statements of EchoCath, Inc. as of
and for the two fiscal years ended August 31, 2000, contained a separate
paragraph stating that "the Company has suffered recurring losses from
operations, has negative working capital and has a net capital deficiency, that
raise substantial doubt about its ability to continue as a going concern.
Management's plans in regard to these matters are also described in Note 1. The
financial statements do not include any adjustments that might result from an
outcome of this uncertainty." A letter from KPMG LLP is attached as Exhibit 16.
On March 7, 2001 the Company engaged Goldstein Golub Kessler LLP as the
Company's principal independent accountant to audit the financial statements of
the Company for the year ending August 31, 2001.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(c) Exhibits.
16. Letter from KPMG LLP regarding change in certifying accountant.
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
Company has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
ECHOCATH INC.
By: /s/ Frank DeBernardis
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President and Chief Executive Officer