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): March 29, 2001
ORGANITECH USA, INC.
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(Exact name of registrant as specified in its charter)
Delaware 00-22151 93-0969365
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
Technion Science Park
Nesher, Israel 36601, Israel
(Address of principal executive offices)
972-4-830-8320
(Registrant's telephone number, including area code)
Item 4. Changes in Registrant's Certifying Accountant.
(a) Previous Independent Accountant:
(i) Varma & Associates ("Varma") was replaced as independent
auditor for the Registrant on March 3, 2001;
(ii) Varma's reports on the financial statements of the
Registrant for the fiscal year ended December 31, 1999 contain no adverse
opinion or disclaimer of opinion and were not qualified or modified as to
uncertainty, audit scope or accounting principles;
(iii) The Registrant's Board of Directors approved the change
in accountants;
(iv) For the two most recent fiscal years ended December 31,
2000 through March 3, 2001, there has been no disagreement between the
Registrant and Varma on any matter of accounting principles or practices,
financial statement disclosure, or auditing scope or procedure, which
disagreement, if not resolved to the satisfaction of Varma, would have caused it
to make a reference to the subject matter of the disagreement in connection with
its reports; and
(v) During the two most recent fiscal years ended December
31, 2000, and through March 3, 2001, the Registrant has not been advised of any
matters described in Regulation S-B, Item 304(a)(1)(B).
The Registrant has requested that Varma furnish it with a
letter addressed to the SEC stating whether or not Varma agrees with the above
statements. A copy of such letter will be filed as an exhibit to this Form 8-K
when received.
(b) New Independent Accountant:
(i) The Registrant engaged KPMG - SOMEKH CHAIKIN, 8 Haneviim Street, Haifa
33501, Israel, as its new independent auditors as of March 29, 2001. Prior to
such date, the Registarnt did not consult with KPMG regarding (i) the
application of accounting principles to a specific transaction, (ii) the type of
audit opinion that might be rendered by KPMG, or (iii) any other matter that was
the subject of an event or a disagreement between the Registrant and its former
auditor as described in Item 304(a)(1)(iv) of Regulation S-B.
Item 7. Financial Statements and Exhibits.
(a) Not Applicable
(b) Not applicable
(c) Exhibits
A letter from Varma will be filed by amendment to
this Report on Form 8-K within 10 days of the filing
of this Report.
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 hereunto duly authorized.
ORGANITECH USA, INC.
Date: April 5, 2001 By: /s/ Lior Hessel
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Lior Hessel, CEO