SECURITIES & EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Form 8-K/A
Amendment No. 1
Current Report
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) March 26, 2002
Commission File Number 3-26787-D
CHINA GLOBAL DEVELOPMENT, INC.
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Exact Name of Registration as Specified in Charter:
Nevada 87-0403828
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State of Other Jurisdiction of Incorporation IRS Employer Identification Number
Address and Telephone Number of Principle Executive Offices:
1400 Quail Street, Suite 138
Newport Beach, CA 92660
949-250-1147
Item 4. Changes in Registrant's Certifying Accountant
(a) On March 26, 2002, China Global Development, Inc., formerly
Ibonzai.com, Inc. (the "Company") dismissed CPA Network LLC ("CNL") as the
Company's independent accountant.
The decision to change accountants was recommended and approved by the
board of directors of the Company.
CNL's audit report on the financial statements of the Company as of
December 31, 2000 and for the year ended December 31, 2000 contained no adverse
opinion or disclaimer of opinion and was not qualified or modified as to
uncertainty, audit scope, or accounting principles.
During the Company's two most recent fiscal years and any subsequent
interim period (up to March 26, 2002) preceding the dismissal of CNL, there were
no disagreements with CNL on any matter of accounting principles or practices,
financial statement disclosure, or auditing scope or procedure, which
disagreement(s) if not resolved to the satisfaction of CNL, would have caused
CNL to make reference to the subject matter of the disagreement(s) in connection
with its report.
During the Company's two most recent fiscal years and any subsequent
interim period (up to March 26, 2002) preceding the dismissal of CNL, there have
been no reportable events of the type required to be disclosed by Item
304(a)(1)(v) of Regulation S-K.
The Company has provided CNL with a copy of the disclosures it is making in
response to Item 304(a) of Regulation S-K. The Company has requested that CNL
review the disclosure and furnish the Company with a letter addressed to the
Commission stating whether it agrees with the statements made by the Company in
response to Item 304(a) of Regulation S-K and, if not, stating the respects in
which it does not agree. A copy of the letter dated May 10, 2002 was received
by the Company from CNL with respect to the Company's request addressed to the
Securities and Exchange Commission and is filed as Exhibit 16.1 to this Form
8-K/A.
(b) On March 26, 2002, the Company engaged Bierwolf, Nilson and Associates
("Bierwolf") as its new independent accountants. Prior to the engagement of
Bierwolf, the Company did not consult with such firm regarding the application
of accounting principles to a specific completed or contemplated transaction, or
any matter that was either the subject of a disagreement or a reportable event.
The Company also did not consult with Bierwolf regarding the type of audit
opinion which might be rendered on the Company's financial statements and no
oral or written report was provided by Bierwolf.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Current Report on Form 8-K to be signed on its
behalf by the undersigned hereunto duly authorized.
CHINA GLOBAL DEVELOPMENT, INC.
Dated: May 10, 2002 By: /s/ Zheng Baottua
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Zheng Baottua
President
C.P.A. Network, LLC
P.O. Box 536
Orem, UT 84059
May 10, 2002
Securities & Exchange Commission
450 Fifth Street, NW
Washington, D.C. 20549
Re: iBonZai.com
File #
Commissioners:
We have read the statements made by China Global Development, Inc. (formerly
iBonZai.com), which we understand will be filed with the Commission, pursuant to
Item 4 of Form 8-K, as part of the Company's Form 8-K/A Amendment No. 1 report
dated March 26, 2002. We agree with the statements concerning our firm in such
Form 8-K.
Very truly yours,
/s/ C.P.A. Network, LLC