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
Date of Event Requiring Report: December 18, 2001
WORLDBID CORPORATION
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(Exact name of registrant as specified in its charter)
NEVADA 000-26729 88-0427619
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(State of Incorporation) (Commission (IRS Employer
File Number) Identification #)
810 PEACE PORTAL DRIVE, SUITE 201
BLAINE, WA
98230
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(Address of Principal Executive Offices)
(360) 332-1752
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(Registrant's telephone number, including area code)
Not Applicable
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(Registrant's Former Name and Address)
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ITEM 1. CHANGES IN CONTROL OF REGISTRANT
None
ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
None
ITEM 3. BANKRUPTCY OR RECEIVERSHIP
None
ITEM 4. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT
KPMG LLP (the "Former Accountant") resigned as principal accountants for
Worldbid Corporation (the "Company") on December 17, 2001. The Company has
engaged Morgan & Company, Chartered Accountants as its principal accountants
effective December 18, 2001. The decision to change accountants has been
approved by the Company's board of directors.
The Former Accountant's report dated August 9, 2001 on the Company's
consolidated financial statements as of and for the fiscal year ended April 30,
2001 did not contain an adverse opinion or disclaimer of opinion, nor was it
qualified or modified as to uncertainty, audit scope, or accounting principles,
except as indicated in the following paragraph.
The Former Accountant's auditors' report on the consolidated financial
statements of the Company as of and for the year ended April 30, 2001 contained
a separate paragraph stating that "As discussed in note 1(b) to the financial
statements, the Company has suffered net losses and negative cash flows from
operations since its inception that raise substantial doubt about its ability to
continue as a going concern. Management's plans as to this matter are discussed
in Note 1(b)." The financial statements do not include any adjustments that
might result from the outcome of this uncertainty.
In connection with the audit of the fiscal year ended April 30, 2001 and the
subsequent interim period ending July 31, 2001, there were no disagreements with
the Former Accountant on any matter of accounting principles or practices,
financial statement disclosure, or auditing scope or procedures, which
disagreements if not resolved to the satisfaction of the Former Accountant would
have caused them to make reference thereto in their report on the financial
statements for such year.
In connection with the audit of the fiscal year ended April 30, 2000 and the
subsequent interim period ending July 31, 2001, the Former Accountant did not
advise the Company with respect to any of the matters described in paragraphs
(a)(1)(v)(A) through (D) of Item 304 of Regulation S-K.
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The Company has provided the Former Accountant with a copy of a draft Form 8-K
disclosing the resignation of the Former Accountant on December 17, 2001 and has
requested in writing that the Former Accountant furnish it with a letter
addressed to the Securities and Exchange Commission stating whether or not they
agree with such disclosures. A copy of the Former Accountant's response is
attached hereto and incorporated herein by this reference.
ITEM 5. OTHER EVENTS AND REGULATION FD DISCLOSURE
None
ITEM 6. RESIGNATIONS OF REGISTRANT'S DIRECTORS
None
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
FINANCIAL STATEMENTS
None
EXHIBITS
Exhibit 99.1 Letter from KPMG LLP, Chartered Accountants
ITEM 8. CHANGE IN FISCAL YEAR
None
ITEM 9. REGULATION FD DISCLOSURE
None
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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.
December 21, 2001 WORLDBID CORPORATION
By: /s/ Logan B. Anderson
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Logan B. Anderson
Chief Executive Officer
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