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 - June 4, 2001
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(Date of earliest event reported)
QUAD SYSTEMS CORPORATION
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(Exact name of Registrant as specified in its charter)
Delaware 0-21504 23-2180139
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(State of incorporation) (Commission (IRS Employer
File Number) Identification No.)
2405 Maryland Road, Willow Grove, Pennsylvania 19090
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(Address of principal executive offices) (Zip Code)
Area Code (215) 657-6202
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(Telephone number)
Item 4. Change in Registrant's Certifying Accountant.
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On June 4, 2001, Quad Systems Corporation (the "Company") received a letter
from Ernst & Young LLP informing the Company of their resignation as the
Company's independent accountants.
The principal accountant's report was never issued on the Company's
financial statements for the fiscal year ended September 30, 2000. The Company
never issued those financial statements because on December 18, 2000, the
Company filed a voluntary petition for relief under Chapter 11 of Title 11 of
the United States Code with the United States Bankruptcy Court for the Eastern
District of Pennsylvania.
The reports issued by Ernst & Young LLP on the Company's financial
statements for the fiscal years ended September 30, 1999 and 1998 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.
During the most two recent fiscal years and through June 4, 2001, there
were no disagreements with Ernst & Young LLP on any matter of accounting
practices or principles, financial statement disclosure, or auditing scope or
procedure, which disagreement, if not resolved to the satisfaction of Ernst &
Young LLP, would have caused them to make reference thereto in their report on
the financial statements for such periods.
During the Company's two most recent fiscal years and through June 4, 2001,
none of the events described in Regulation S-K Item 304(a)(1)(v) occurred.
The Company has requested Ernst & Young LLP to furnish it a letter
addressed to the Securities and Exchange Commission as to whether it agrees or
disagrees with the statements set forth in this Form 8-K. A copy of such letter
dated July 2, 2001 is filed as an exhibit to this Form 8-K.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
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(c) Exhibits
Exhibit 16.1 -- Letter, dated July 2, 2001, from Ernst & Young LLP
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.
QUAD SYSTEMS CORPORATION
Dated: July 3, 2001 By /s/ Anthony R. Drury
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Anthony R. Drury
Senior Vice President, Finance
and Chief Financial Officer
(Principal Accounting Officer
and duly authorized officer)
QUAD SYSTEMS CORPORATION
CURRENT REPORT ON FORM 8-K
EXHIBIT INDEX
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Exhibit
No. Exhibit
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16.1 Letter, dated July 2, 2001, from Ernst & Young LLP