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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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AMENDMENT NO. 1
TO
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
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Date of Report (Date of earliest event reported): November 5, 2004
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CHINA ENERGY SAVINGS TECHNOLOGY, INC.
(Exact name of registrant as specified in Charter)
NEVADA 000-31047 86-0995730
(State or other jurisdiction of (Commission File No.) (IRS Employee
incorporation or organization) Identification No.)
Central Plaza
18 Harbour Road
Suite 3203A
32nd Floor
Hong Kong
China
(Address of Principal Executive Offices)
852-2588-1228
Issuer Telephone number)
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Item 4.01 Changes in Registrant's Certifying Accountant
On November 5, 2004, the Registrant engaged Moore Stephens Wurth Frazer &
Torbet LLP ("Moore Stephens") as the Registrant's independent accountants to
review the Registrant's consolidated balance sheet as of September 30, 2004 and
the related consolidated statements of income, stockholders' equity and cash
flows for the fiscal year then ended. The decision to appoint Moore Stephens was
approved by the Registrant's Board of Directors.
Webb & Company, P.A. ("Webb") resigned as the Registrant's auditors
effective from November 5, 2004 because of auditor conflict under Section 206 of
the Sarbanes-Oxley Act of 2002 after an affiliate of Webb became the Chief
Financial Officer of the Registrant. Webb served as the Registrant's independent
auditors to: (i) audit the Registrant's recently acquired subsidiary, Starway
Management, Ltd. ("Starway") for fiscal years ended December 31, 2003 and
December 31, 2002; and (ii) to review the Registrant's consolidated balance
sheet as of June 30, 2004 and the related consolidated statements of income,
stockholders' equity and cash flows for the fiscal quarter then ended. Webb's
report on Starway's consolidated financial statements for Starway's fiscal years
ended December 31, 2003 and December 31, 2002 (the "Reports") did not contain an
adverse opinion or disclaimer of opinion and were not qualified or modified as
to uncertainty, audit scope or accounting principles.
During the Registrant's former fiscal years ended September 30, 2003 and
September 30, 2002, and Starway's former fiscal years ended December 31, 2003
and December 31, 2002, and until Webb's resignation, there were no disagreements
with Webb within the meaning of item 304 of regulation S-B or any matter of
accounting principles or practices, financial disclosure, or auditing scope or
procedure, which disagreements if not resolved to Webb's satisfaction, would
have caused Webb to make reference to the subject matter of the disagreements in
connection with its reports.
During the Registrant's former fiscal years ended September 30, 2003 and
September 30, 2002, and Starway's former fiscal years ended December 31, 2003
and December 31, 2002, and until Webb's resignation, there were no "reportable
events" (as such term is defined in item 304(a)(1)(v) of regulation S-K).
During Registrant's two most recent fiscal years and any subsequent interim
period prior to the engagement of Moore Stephens, neither the Registrant nor
anyone on the Registrant's behalf consulted with Moore Stephens regarding either
(i) the application of accounting principles to a specified transaction, either
contemplated or proposed, or the type of audit opinion that might be rendered on
the Registrant's financial statements or (ii) any matter that was either the
subject of a "disagreement" or a "reportable event."
The Registrant has requested Webb to review the disclosure contained herein
and has asked Webb to furnish the Registrant with a letter addressed to the
Commission containing any new information, clarification of the Registrant's
expression of Webb's views, or the respects in which Webb does not agree with
the statements contained herein. A copy of Webb's letter is filed as an Exhibit
to this Current Report on Form 8-K.
Item 9.01 Financial Statements and Exhibits
Exhibit
Number Description
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16.1 Letter from Webb & Company, P.A.
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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 thereunto duly authorized.
Dated: November 23, 2004 CHINA ENERGY SAVINGS TECHNOLOGY, INC.
By: /s/ Sun Li
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Sun Li
Its: Chief Executive Officer
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