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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES AND EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported): June 18, 1998
SI DIAMOND TECHNOLOGY, INC.
(Exact Name of Registrant as Specified in its Charter)
TEXAS
(State or Other Jurisdiction of Incorporation)
1-11602 76-0273345
(Commission File No.) (I.R.S. Employer Identification No.)
3006 Longhorn Boulevard
Suite 107
Austin, Texas 78758
(Address of Principal Executive Offices)
(512) 339-5070
(Registrant's Telephone Number, Including Area Code)
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Item 4. Changes in Registrant's Certifying Accountant
On June 18, 1998, Coopers & Lybrand L.L.P. ("Coopers & Lybrand")
informed the Company of its resignation as the Company's independent
accountant.
The reports of Coopers & Lybrand on the Company's financial statements
for the years ended December 31, 1997 and 1996 did not contain an adverse
opinion or a disclaimer of opinion, but the reports did contain explanatory
paragraphs in each of the two years concerning the ability of the Company to
continue as a going concern since the Company has not yet achieved
profitability, has a working capital deficit and must obtain additional capital
to fund its ongoing operations. There were no disagreements with Coopers &
Lybrand on any matters of accounting principles or practices, financial
statement disclosures, or auditing scope and procedures which, if not resolved
to the satisfaction of Coopers & Lybrand, would have caused Coopers & Lybrand
to make reference to the matter in their report.
The Company has had discussions with, but has not yet identified a
successor auditor. The Company has requested Coopers & Lybrand to furnish it a
letter addressed to the Securities and Exchange Commission stating whether it
agrees with the above statements. A copy of that letter dated June 24, 1998, is
field as Exhibit 16 to this Report on Form 8-K.
Item 7. Financial Statements and Exhibits.
(c) Exhibits:
16.1 Letter from Coopers & Lybrand L.L.P.
99.1 Letter of resignation of Coopers & Lybrand L.L.P. as
independent accountants of the Company.
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, thereunto duly authorized.
SI DIAMOND TECHNOLOGY, INC.
By /s/ Douglas P. Baker
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Douglas P. Baker
Vice President and
Chief Financial Officer
Dated: June 25, 1998