SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
Amendment No. 1
Current Report
Pursuant To Section 13 or 14(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) June 26, 2002
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PSYCHEMEDICS CORPORATION
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(Exact Name of Registrant As Specified In Its Charter)
DELAWARE
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(State if Other Jurisdiction of Incorporation)
1-13738 58-1701987
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(Commission File Number) (I.R.S. Employer Identification No.)
1280 Massachusetts Ave., Suite 200, Cambridge, MA 02138
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(Address of Principal Executive Offices) (Zip Code)
(617-868-7455)
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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.
(a) Information required by Item 304(a)(1) of Regulation S-K.
(i) Arthur Andersen LLP was dismissed as the Registrant's independent
accountants effective as of the close of business on June 26, 2002.
(ii) The reports of Arthur Andersen LLP on the consolidated financial
statements of the Registrant at December 31, 2000 and December 31,
2001, and for the three years ended December 31, 2001, contain no
adverse opinion or disclaimer of opinion and were not qualified or
modified as to uncertainty, audit scope or accounting principle.
(iii) The decision to change accountants was recommended by the Audit
Committee of the Registrant's Board of Directors, and approved by the
full Board of Directors of the Registrant. A new independent public
accounting firm has not yet been engaged to act as Psychemedics
Corporation's auditors.
(iv) In connection with its audits for the two most recent fiscal years
and through June 26, 2002, there have been no disagreements with
Arthur Andersen LLP on any matter of accounting principle or
practice, financial statement disclosure, or auditing scope or
procedure, which disagreements if not resolved to the satisfaction of
Arthur Andersen LLP would have caused Arthur Andersen LLP to make
reference thereto in their report on the financial statements for
such years.
(v) During the two most recent fiscal years and through June 26, 2002
there have been no reportable events (as defined in Regulation S-K
Item 304 (a) (1) (v)).
(b) The Registrant has requested that Arthur Andersen LLP provide it with a
letter addressed to the SEC stating whether or not it agrees with the above
statements. A copy of such letter, dated June 28, 2002, is filed as Exhibit
16 to this Form 8-K/A.
Item 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(c) Exhibits
EXHIBIT NO. DESCRIPTION
16 Letter from Arthur Andersen LLP to the Securities and
Exchange Commission dated June 28, 2002.
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.
PSYCHEMEDICS CORPORATION
Dated: June 28, 2002
By: /s/ Peter C. Monson
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Peter C. Monson, Chief Financial Officer
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
16 Letter from Arthur Andersen LLP to the Securities and
Exchange Commission dated June 28, 2002.