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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):
JULY 13, 2001
ADVANCED FINANCIAL, INC.
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(Exact name of registrant as specified in its charter)
Delaware 0-19485 84-1069416
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(State or other jurisdiction of (Commission File Number) (IRS Employer
incorporation or organization) Identification Number)
5425 Martindale, Shawnee, Kansas 66218
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(Address of principal executive offices)
(913-535-1002)
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(Registrant's Telephone Number, including Area Code)
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Item 4. Changes in Registrant's Certifying Accountant
1. (a) On November 14, 2000 the Registrant's certifying accountant,
Grant Thornton informed registrant that it was resigning as auditors for
Registrant.
(b) For the Registrant's year end financial statements, from the
years ended March 31, 1998 and 1997, Grant Thornton rendered an audit opinion
letter modified as to an uncertainty as follows:
The accompanying financial statements have been prepared assuming that
the Company will continue as a going concern. As discussed in Note B to the
consolidated financial statements, on November 7, 1997, the Company filed a
voluntary petition for reorganization in the United States Bankruptcy Court for
the District of Kansas (Bankruptcy Court) under Chapter 11 of the United States
Bankruptcy Code (Bankruptcy Code), Pursuant to the Bankruptcy Code, the Company
has continued to manage its business as a debtor-in-possession under the
jurisdiction of the Bankruptcy Court, but has no ongoing operations. On November
13, 1998, the Bankruptcy Court confirmed the Company's First Amended Joint Plan
of Reorganization dated July 29, 1998. These factors, among others, as discussed
in Note B to the consolidated financial statements, raise substantial doubt
about the Company's ability to continue as a going concern. Management's plans
in regard these matters are described in Note B. The financial statements do not
include any adjustments that might result from the outcome of this uncertainty.
(c) At the time Grant Thornton resigned, there were no disagreements
between Registrant and Grant Thornton on any matter of accounting principles or
practices, financial statement disclosure, or audit scope or procedures, which
disagreements if not resolved to their satisfaction would have caused them to
make reference to the subject matter of the disagreement in connection with
their reports.
2. As of the date of this Report, Grant Thornton has been engaged by
the Registrant to examine and report on the financial statements
for the fiscal year ended March 31, 1999.
Item 7. Financial Statements and Exhibits
a. Financial Statements
None
b. Proforma Financial Statements
None
c. Exhibits
None
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of
1934, the Registrant has duly caused this Report as amended to be signed on its
behalf by the undersigned hereunto duly authorized.
ADVANCED FINANCIAL, INC.
(Registrant)
/s/ Charles A. Holtgraves
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Charles A. Holtgraves
President
Dated: July 18, 2001
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