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
APRIL 16, 2004
Date of Report
(Date of earliest event reported)
PERSISTENCE SOFTWARE, INC.
(Exact name of registrant as specified in its charter)
DELAWARE
(State or other jurisdiction of incorporation)
000-25857 94-3138935
(Commission File Number) (I.R.S. Employer Identification No.)
1720 SOUTH AMPHLETT BLVD., THIRD FLOOR
SAN MATEO, CALIFORNIA 94402
(Address of principal executive offices, with zip code)
(650) 372-3600
(Registrant's telephone number, including area code)
ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.
On April 16, 2004, the Board of Directors of Persistence Software,
Inc. (the "Company"), decided to dismiss Deloitte & Touche LLP ("D&T") as its
independent public accountants effective as of immediately after the filing of
its Quarterly Report on Form 10-Q for the period ended March 31, 2004, expected
to occur on or before May 15, 2004. The Company's Board of Directors, upon the
recommendation of the Audit Committee, authorized the dismissal of D&T and the
engagement of another accounting firm on the advice of management that such
change will result in substantial cost savings.
The reports of D&T on the financial statements for the past two
fiscal years (2002 and 2003) contained no adverse opinion or disclaimer of
opinion and were not qualified or modified as to uncertainty, audit scope or
accounting principle.
In connection with its audits for the two most recent fiscal years
and through April 16, 2004, there have been no disagreements with D&T on any
matter of accounting principles or practices, financial statement disclosure, or
auditing scope or procedure, which disagreements, if not resolved to the
satisfaction of D&T, would have caused it to make reference to the subject
matter of such disagreements in connection with its reports, except for a
disagreement with management over the recognition of revenue on a sales contract
with Cablevision during the first quarter of 2002. Prior to filing its Quarterly
Report on Form 10-Q for the period ended March 31, 2002, and after discussions
among the Audit Committee of the Board of Directors, management and D&T,
management revised its accounting for this contract and the matter was resolved
to the satisfaction of D&T. D&T has been authorized to respond fully to the
inquiries of any successor accounting firm concerning the subject matter of this
disagreement. In addition no reportable events, as defined in Item 304(a)(1)(v)
of Regulation S-K, occurred during the Company's two most recent fiscal years
and through April 16, 2004.
The Company has requested that D&T furnish a letter addressed to
the Securities and Exchange Commission stating whether or not it agrees with the
above statements. A copy of that letter is filed as an exhibit to this 8-K.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(c) Exhibits
16.1 Letter dated April 19, 2004 from Deloitte & Touche
LLP to the Securities and Exchange Commission.
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.
PERSISTENCE SOFTWARE, INC.
Date: April 19, 2004 By: /S/ CHRISTOPHER T KEENE
--------------------------------
Christopher T Keene
President and Chief Executive Officer