UNITED STATES
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 Report (Date of earliest event reported) September 10, 2003
UNITED SPECIALTIES, INC.
(Formerly known as Urbani Holdings, Inc.)
(Exact name of registrant as specified in its charter)
Colorado 000-22783 95-3966853
(State of (Commission File Number) (IRS Employer
Incorporation) Identification No.)
20-24 40th Avenue, Long Island City, New York, 11101
(Address of principal executive offices, including zip code)
(718) 392-5050
(Registrant's telephone number, including area code)
Item 4. Changes in Registrant's Certifying Accountants.
On September 11, 2003, Sherb & Co., LLP ("Sherb"), the independent
certified public accountants for United Specialties, Inc. (the "Company"),
was dismissed. Except as described in the following sentence, the reports
of Sherb on the financial statements of the Company for the fiscal year
ending December 2002 did not contain an adverse opinion or disclaimer of
opinion and were not qualified or modified as to uncertainty, audit scope
or accounting principles. The report of Sherb on the financial statements
of the Company for the fiscal year ended December 31, 2002 does, however,
contain an expression of substantial doubt regarding the Company's ability
to continue as a going concern.
Effective March 15, 2002, the Company acquired Rosario's Epicureo, Ltd.
("Rosario") through a merger of Rosario with and into a newly formed
subsidiary of the Company. The Company, then operating under the name of
Sattel Global Networks, Inc., changed its name to Urbani Holdings, Inc.
("Urbani") in connection with the acquisition. Subsequent to the closing
of the acquisition, the Company retained Allen G. Roth, P.A. ("Roth"), the
auditor for Rosario. On July 11, 2002 Roth was dismissed. Roth never
audited or issued an opinion on the Company's financial statements. Its
opinion on the financial statements on Rosario for its fiscal year ending
December 31, 2002, however, did not contain an adverse opinion or
disclaimer of opinion and were not qualified or modified as to uncertainty,
audit scope or accounting principles.
The independent auditor for the Company for its fiscal year ending December
31, 2001 was Malone & Bailey, PLLC ("MB"). During the year ended December
31, 2001 the reports by MB on the financial statements of the Company did
not contain an adverse opinion or a disclaimer of opinion, or one that was
qualified or modified as to uncertainty, audit scope, or accounting
principles.
During the Company's two most recent fiscal years and subsequent period up
to the filing date of this report, there were no disagreements with the
former accountant(s) on any matter of accounting principles or practices,
financial statement disclosure, or auditing scope or procedure, which
disagreements if not resolved to their satisfaction would have caused them
to make reference in connection with their opinion to the subject matter of
the disagreement.
On September 11, 2003, subsequent to approval of its board of directors,
the Company engaged Bierwolf, Nilson & Associates ("BNA") to serve as the
Company's independent certified public accountants. During the Company's
two most recent fiscal years, and during any subsequent period through the
filing date of this report, the Company did not consult with BNA on any
accounting or auditing issues.
Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits.
(c) Exhibits
Exhibit 16.1 - Letter, dated September 15, 2003, from Sherb & Co.,
LLP.
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: September 15, 2003 UNITED SPECIALTIES, INC.
By: /s/ Rosario Safina
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Name: Rosario Safina
Title: Chief Executive Officer