FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report August 8, 2001
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CardioTech International, Inc.
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(Exact name of Registrant as specified in its charter)
Massachusetts 0-28034 04-3186647
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(State or other jurisdiction of (Commission File No.) (IRS Employer
incorporation) Identification No.)
78 E Olympia Avenue, Massachusetts 01801
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (781) 933-4772
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N/A
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(Former name or former address, if changed since last report)
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Item 4. Change in Registrant's Certifying Accountants.
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On August 1, 2001, CardioTech International, Inc. (the "Company"), with the
approval of the Company's Audit Committee and Board of Directors, dismissed its
independent accountants, BDO Seidman, LLP ("BDO"). During the years ended March
31, 2001 and 2000, and the subsequent interim period through August 1, 2001 (the
date of BDO's dismissal as the Company's independent accountants), (i) there
were no disagreements with BDO on any matters of accounting principles or
practices, financial statement disclosure, or auditing scope or procedure, which
disagreements, if not resolved to the satisfaction of BDO, would have caused BDO
to make a reference to the subject matter of the disagreements in connection
with its reports in the financial statements for such years and (ii) there were
no "reportable events" as described in Items 304 of Regulation S-K. The
independent accountant's report of BDO on the Company's consolidated financial
statements for the years ended March 31, 2001 and 2000 contained no adverse
opinion or disclaimer of opinion and were not qualified or modified as to
uncertainty, audit scope or accounting principles.
On August 1, 2001, the Company appointed, with the approval of the Company's
Audit Committee and Board of Directors, the firm of Arthur Andersen LLP as its
independent accountants.
Item 7. Financial Statements and Exhibits.
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a.) Exhibits.
Exhibit 16 Letter of BDO Seidman, LLP.
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SIGNATURE
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.
CardioTech International, Inc.
By: /s/ Michael Szycher
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Michael Szycher, PhD
Chairman and CEO
Date: August 8, 2001
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