SECURTIES AND EXCHANGE COMMISION
Washington, D.C. 20549
FORM 8-KA
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (date of earliest event reported)
October 24, 2003
DISTRIBUTED POWER, INC.
(exact name of registrant as specified in its charter)
Delaware 0-18260 52-1659436
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Indent. No.)
558 Lime Rock Road
Lime Rock, Connecticut 06039
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code
860-435-7000
The New World Power Corporation
(Former name or former address, if changed since last report)
Item 2. Sale of Wolverine Power Corporation
Effective August 30, 2003, the Registrant sold its ownership of Wolverine Power
Corporation, consisting of 100% of Wolverine Power Corporation's common stock,
to Henry Plantagent Inc., a private company, for approximately $2,050,000,
including the assumption of all liabilities.
Item 4. Change in Registrant's Certifying Accountants.
Effective October 24, 2003 the Registrant dismissed Lazar, Levine & Felix
("Lazar") as its independent accountants, due to the Company desiring a
different independent accountant as a cost saving measure. The action was
recommended by the Board of Directors of the Registrant. The action was approved
by a majority of the shareholders and the Board of Directors of the Registrant.
On October 24, 2003, the Registrant engaged Bagell, Josephs and Company, LLC,
with offices in New Jersey, to audit the registrant's consolidated financial
statements for 2001, 2002 and 2003. Distributed Power, Inc. has not previously
engaged or consulted with Bagell Josephs and Co, LLC on any matter.
Lazar's reports on the Registrant's financial statements for the past year ended
December 31, 2001 contained no adverse opinion or disclaimer of opinion, and
were not qualified or modified as to uncertainty, audit scope or accounting
principle. Prior thereto, Lazar's reports on the Registrant's financial
statements for the fiscal year ended December 31, 2000 contained no adverse
opinion or disclaimer of opinion, and were not qualified or modified as to
uncertainty, audit scope or accounting principle. The Registrant is delinquent
with respect to its Form 10-QSB and related financial statements for the quarter
ended 9/30/02, its Form 10-KSB and related financial statements for the year
ended December 31, 2002, and its Form 10-QSB and related financial statements
for the quarters ended 3/31/03, 6/30/03 and 9/30/03. The Company is presently
involved in working with its counsel and auditors to rectify such delinquencies,
and has been advised that it should expect to do so by the end of its current
fiscal calendar year. During the most recent two fiscal years and up to the
dismissal date, there were no disagreements between the Registrant and Lazar on
any matters of accounting principles or practices, financial statement
disclosures, or auditing scope or procedure, which disagreements, if not
resolved to the satisfaction of Lazar, would have caused them to make a
reference to the subject matter of the disagreements in connection with their
reports on the financial statements.
The Registrant has provided a copy of this disclose to Lazar in compliance with
the provisions of Item 304 (a) (3) of Regulation S-K. Exhibit 16.1 Letter from
Lazar to Securities and Exchange Commission dated October 29, 2003. Item 5.
Change in Registrant's Name and Reverse Stock Split Effective October 24, 2003,
the Registrant changed its name to Distributed Power, Inc. from The New World
Power Corporation, and accomplished a 1 for 100 reverse stock split with respect
to its common stock.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, each of the
Corporations has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized
DISTRIBUTED POWER, INC.
Date: October 24, 2003 By: /s/ John D. Kuhns
---------------------------------
John D. Kuhns
Chairman
Date: October 24, 2003 By: /s/ Mary E. Fellows
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Mary E. Fellows
Secretary