SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K/A
Current Report
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report: (Date of earliest event reported): June 1, 2001
Commission File No.: 33-19961
COVENANT FINANCIAL CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware 01-623010
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(State or other jurisdiction of (IRS Employer Identification No.)
incorporation or organization)
6060 N. Central Expressway, Suite 560 #7
Dallas, Texas 75206
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(Address of principal executive offices)
(214) 800-2842
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(Issuer telephone number)
Homegate Corporation
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(Former Name)
Item 4. Changes in Registrant's Certifying Accountant.
In June 1, 2001, the client-auditor relationship between Covenant Financial
Corporation, formerly Homegate Corporation (the "Company") and J. S. Osborn,
P.C. ("Osborn") ceased as Osborn was dismissed as the Company's auditor.
To the knowledge of the Company's current Board of Directors, Osborn's
report of the financial statements of the Registrant for the year ended December
31, 2000 and any related interim period through May 31, 2001 did not contain any
adverse opinion or disclaimer of opinion and was not qualified or modified as to
uncertainty, audit scope or accounting principles during the fiscal year ended
December 31, 2000 except that the opinion for the year ended December 31, 2000
contained a going concern paragraph.
During the audit of the Company's financial statements for the year ended
December 31, 2000 and any subsequent interim period through the date of
dismissal, Osborn did not have any disagreements with the Company on any matter
of accounting principles or practices, financial statement disclosure, or
auditing scope or procedure.
The Company decided not to reappoint Osborn as its independent accountant.
The decision to change accountants was approved by the Registrant's Board of
Directors; and
There were no disagreements related to accounting principles or practices
auditing scope or procedure during the fiscal year ended December 31, 2000 and
the interim period through May 31, 2001.
On January 15, 2002, the Registrant engaged Malone & Bailey PLLC as its
independent accountants for the fiscal year ended December 31, 2001. During the
most recent fiscal year and any subsequent interim period prior to engaging
Malone & Bailey, the Company did not consult with Malone & Bailey regarding
either (i) the application of accounting principals to a specified transaction,
either completed or proposed; or the type of audit opinion that might be
rendered on the Company's financial statements; or (ii) any matter that was
either the subject matter of a disagreement (as defined in Item 304(a)(1)(iv) of
Regulation S-K and the related instructions) or a reportable event (as defined
in Item 304(a)(1)(v) of Regulation S-K). Malone & Bailey PLLC has reviewed the
disclosure required by Item 304(a) before it was filed with the Commission and
has been provided an opportunity to furnish the Company with a letter addresssed
to the Commission containing any new information, clarification of the Company's
expression of its views, or the respects in which it does not agree with the
statements made by the Company in response to Item 304(a). Malone & Bailey PLLC
did not furnish a letter to the Commission.
The Company has requested that Osborn review the disclosure and Osborn has
been given an opportunity to furnish the Registrant with a letter addressed to
the Commission containing any new information, clarification of the Company's
expression of its views, or the respect in which it does not agree with the
statements made by the Company herein. Such letter has not been supplied to the
Company as of the date of this Report. The Company will file an amended report
with the letter filed as an exhibit upon receiving such letter.
Item 7. Financial Statements and Exhibits.
(c) Exhibits:
Exhibits Description
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15.1 Letter from J. S. Osborn, P.C.
Signatures
Pursuant to the requirement of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto authorized.
COVENANT FINANCIAL CORPORATION
April 2, 2002
/s/ Doug M. Larson
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Doug M. Larson
President