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UNITED STATES
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): January 16, 2001
PETMED EXPRESS, INC.
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(Exact name of registrant as specified in its charter)
FLORIDA 000-28827 65-0680967
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation) Number)
1441 SW 29 AVENUE, POMPANO BEACH, FLORIDA 33069
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(Address of executive offices) (Zip Code)
Registrant's telephone number, including area code: (954)979-5995
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 Accountants
On January 16, 2001, Ernst & Young LLP informed PetMed Express, Inc.
("PetMed") that Ernst & Young LLP resigned as PetMed's principal independent
public accountant. Ernst & Young LLP had served as PetMed's principal
independent public accountant since April 1999.
In connection with the audits of PetMed's financial statements for each
of the two fiscal years ended March 31, 2000 and the nine months ended December
31, 1999, and in the interim period through the date of this Report, there have
been no disagreements with Ernst & Young LLP on any matters of accounting
principles or practices, financial statement disclosure, or auditing scope and
procedures which, if not resolved to the satisfaction of Ernst & Young LLP,
would have caused Ernst & Young LLP to make reference to the matter in their
report on PetMed's financial statements. Ernst & Young LLP has previously
advised PetMed in connection with the audits of PetMed's financial statements
for the periods referred to above that it had material weaknesses in internal
controls (as defined in Item 304 (a)(1)(iv)(B)(1) of Regulation S- B) related to
the lack of formal accounting policies and procedures, lack of adequate staffing
in the financial reporting function, lack of timely account reconciliations,
unsupported journal entries, and lack of proper inventory and accounts payable
cut-off procedures.
Ernst & Young LLP's report on PetMed's financial statements for the
year ended March 31, 2000 was qualified as to PetMed's ability to continue as a
going concern. Other than such qualification, the reports of Ernst & Young LLP
on PetMed's financial statements for the past two fiscal years did not contain
an adverse opinion or a disclaimer of opinion, and were not qualified or
modified as to uncertainty, audit scope or accounting principles.
On January 22, 2001, PetMed appointed Lopez Levi & Associates, L.L.C.
as its independent auditor and Lopez Levi & Associates, L.L.C. accepted such
appointment. PetMed has not consulted with Lopez Levi & Associates, L.L.C. on
the application of accounting principles to any completed or proposed
transaction or on the type of audit opinion that might be given.
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Item 7. Financial Statements and Exhibits.
(c) Exhibits
Exhibit No. Description
16 Letter from Ernst & Young LLP
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SIGNATURES
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.
PetMed Express, Inc.
Date: January 23, 2001 By: /s/ MARC A. PULEO
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Marc A. Puleo, M.D.,
Chief Executive Officer
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