SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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): April l7, 2002
Royal Acceptance Corporation
(Exact Name of Registrant as Specified in Its Charter)
Delaware
(State or Other Jurisdiction of Incorporation)
0-29797 22-3680581
(Commission File Number) (IRS Employer Identification No.)
90 Jericho Turnpike, Floral Park, New York 11001
(Address of Principal Executive Offices) (Zip Code)
(516) 488-8600
(Registrant's Telephone Number, Including Area Code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Item 4. Changes in Registrant's Certifying Accountant.
(a)(1) As of April l7, 2002, the Registrant's Board of Directors,
terminated Weinick Sanders Leventhal & Co., LLP (the "Former Accountant") as the
Registrant's independent public accountants. The Former Accountant's reports on
the Registrant's financial statements for the years ended December 31, 1999 and
2000 did not contain an adverse opinion or disclaimer of opinion and were not
qualified or modified as to uncertainty, audit scope or accounting principles,
other than a qualification as to whether the Registrant will continue as a going
concern. During the Registrant's two most recent fiscal years ended December 31,
2001, and the subsequent interim period through April l6, 2002, there were no
disagreements between the Registrant and the Former Accountant on any matter of
accounting principles or practices, financial statement disclosure, or auditing
scope or procedure, which disagreements if not resolved to the Former
Accountant's satisfaction would have caused them to make reference to the
subject matter of the disagreement in connection with their reports.
(2) The Board of Directors of the Registrant has replaced the Former
Accountant with Marcum & Kliegman LLP (the "New Accountant") as the principal
accountant to audit the Registrant's financial statements for the year ended
December 31, 2001. During the Registrant's two most recent fiscal years and the
subsequent interim period prior to the Former Accountant's termination, the
Registrant did not consult with the New Accountant regarding the application of
accounting principles to a specified transaction or the type of audit opinion
that might be rendered on the Registrant's financial statements. The New
Accountant was engaged as of April l7, 2002.
(3) During the interim period from the date of the Registrant's last
audited financial statements to the date hereof, there were no procedures
performed by the Former Accountant and the Registrant is not aware of any
disagreements with the Former Accountant on any matter of accounting principles
or practices, financial statement disclosure or auditing scope or procedure.
(4) The Registrant will file by amendment a letter from the Former
Accountant addressed to the Securities and Exchange Commission stating whether
the Former Accountant agrees with the Statements made by the Registrant in
response to this Item.
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
*Exhibit 16.1 Letter of Weinick Sanders Leventhal & Co., LLP regarding
change in certifying accountant.
* to be filed by Amendment.
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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.
ROYAL ACCEPTANCE CORPORATION
(Registrant)
Date: April 23, 2002 By: /s/ Richard Toporek
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Richard Toporek
President, Secretary and
Director
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