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
Date of Report (Date of earliest event reported): February 12, 2003
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CROSSROADS SYSTEMS, INC.
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(Exact Name of Registrant as Specified in Its Charter)
Delaware
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(State of Other Jurisdiction of Incorporation)
000-30362 74-2846643
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(Commission File Number) (IRS Employer
Identification No.)
8300 North MoPac Expressway, Austin, Texas 78759
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(Address of Principal Executive Offices) (Zip Code)
(512) 349-0300
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(Registrant's Telephone Number, Including Area Code)
N/A
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(Former Name or Former Address, if Changed Since Last Report)
ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.
Our Audit Committee of the Board of Directors annually considers the
selection of our independent public accountants. On February 12, 2003, our Audit
Committee appointed KPMG LLP to serve as our independent public accountants and
dismissed our former independent public accountants, PricewaterhouseCoopers LLP.
The change will become effective upon the completion by PricewaterhouseCoopers
of its review of our financial statements for the fiscal quarter ended January
31, 2003, which is expected to be completed in March 2003 in conjunction with
the filing of our Quarterly Report on Form 10-Q for the fiscal quarter ended
January 31, 2003. KPMG will audit our financial statements for the fiscal year
ending October 31, 2003.
PricewaterhouseCoopers' audit reports on our consolidated financial
statements for the past two years did not contain an adverse opinion or
disclaimer of opinion, nor were they qualified or modified as to uncertainty,
audit scope or accounting principles.
During our two most recent fiscal years and through the date of this
Current Report on Form 8-K, there were no disagreements with
PricewaterhouseCoopers on any matter of accounting principles or practices,
financial statement disclosure, or auditing scope or procedure which, if not
resolved to PricewaterhouseCoopers' satisfaction, would have caused them to make
reference to the subject matter in connection with their reports on our
consolidated financial statements for such years; and there were no reportable
events, as listed in Item 304(a)(1)(v) of Regulation S-K.
We provided PricewaterhouseCoopers with a copy of the foregoing
disclosures. Attached as Exhibit 16.1 is a copy of PricewaterhouseCoopers
letter, dated February 19, 2003, stating their agreement with such statements.
During our two most recent fiscal years and through the date of this
Current Report on Form 8-K, we did not consult KPMG LLP or any other accounting
firm with respect to the application of accounting principles to a specified
transaction, either completed or proposed, or the type of the audit opinion that
might be rendered on our consolidated financial statements, or any other matters
or reportable events listed in Items 304 (a)(2)(i) and (ii) of Regulation S-K.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(c) Exhibit 16.1. Letter from PricewaterhouseCoopers LLP to the Securities
------------ and Exchange Commission dated February 19, 2003.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
CROSSROADS SYSTEMS, INC.
Dated: February 19, 2003 By: /s/ Brian R. Smith
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Brian R. Smith
Chief Executive Officer
EXHIBIT INDEX
Exhibit No. Description
16.1 Letter from PricewaterhouseCoopers LLP to Securities and
Exchange Commission dated February 19, 2003