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 Earliest Event Reported: July 9, 2001
WORLDWIDE PETROMOLY, INC.
(Exact name of registrant as specified in its charter)
Colorado 000-24682 84-1125214
(State or other jurisdiction Commission File (IRS Employer
of incorporation or organization) Number) Identification No.)
12600 Deerfield Parkway, Suite 100
Alpharetta, Georgia 30004
(Address of Principal Executive Offices)
(678) 762-3295
(Registrant's telephone number, including area code)
ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT
On July 9, 2001 the Board of Directors of the Registrant approved the engagement
of BKD, LLP ("BKD") as the Registrant's principal accountant to replace Jackson
& Rhodes P.C. ("Jackson & Rhodes"), the previous accountant. The Board approved
the engagement of BKD because it had the resources needed to serve the
Registrant as its business grows.
Jackson & Rhodes' report on the Registrant's financial statements for each of
the last two years did not contain an adverse opinion or a disclaimer of
opinion, nor was it qualified or modified as to uncertainty, audit scope, or
accounting principles.
During the Registrant's two most recent fiscal years and the subsequent interim
periods preceding the replacement of Jackson & Rhodes, there were no
disagreements with Jackson & Rhodes 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 Jackson & Rhodes, would
have caused it to make a reference to the subject matter of the disagreement(s)
in connection with its report.
Jackson & Rhodes did not advise the Registrant during the Registrant's two most
recent fiscal years or during the subsequent interim periods preceding Jackson &
Rhodes replacement:
(a) that the internal controls necessary for the Registrant to
develop reliable financial statements did not exist;
(b) that information had come to its attention that had led it to
no longer be able to rely on management's representations, or
that had made it unwilling to be associated with the financial
statements prepared by management;
(c) (i) of the need to expand significantly the scope of its
audit, or that information had come to its attention during
the two most recent fiscal years or any subsequent interim
period that if further investigated might (A) materially have
impacted the fairness or reliability of either: a previously
issued audit report or the underlying financial statements, or
the financial statements issued or to be issued covering the
fiscal period(s) subsequent to the date of the most recent
financial statements covered by an audit report or (B) have
caused it to be unwilling to rely on management's
representations or be associated with the Registrant's
financial statements; or (ii) that due to its dismissal, or
for any other reason, it did not so expand the scope of its
audit or conduct such further investigation; or
(d) (i) that information had come to its attention that it had
concluded materially impacts the fairness or reliability of
either (A) a previously issued audit report or the underlying
financial statements, or (B) the financial statements issued
or to be issued covering the fiscal period(s) subsequent to
the date of the most recent financial statements covered by an
audit report; or (ii) due to its dismissal, or for any other
reason, the issue has not been resolved to its satisfaction
prior to its dismissal.
Jackson & Rhodes was authorized by the Registrant to respond fully to inquiries
of BKD.
Except such advice as has been provided by BKD in connection with auditing
services related to the preparation of historical financials for the
Registrant's recently acquired subsidiary and accounting services related to the
preparation of certain pro forma financial information, during the two most
recent fiscal years and during the interim period prior to engaging BKD, neither
the Registrant nor anyone on its behalf consulted BKD regarding either: (a) the
application of accounting principles to a specified transaction, either
completed or proposed; or the type of audit opinion that might be rendered on
the Registrant's financial statements, and neither a written report nor oral
advice was provided to the Registrant that BKD concluded was an important factor
considered by the Registrant in reaching a decision as to an accounting,
auditing or financial reporting issue; or (b) any matter that was the subject of
either a disagreement or any other event described above.
ITEM 7. EXHIBIT INDEX
16.1 Letter from Rhodes & Jackson P.C. regarding Change in Certifying
Accountant
(SIGNATURE PAGE FOLLOWS)
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
WORLDWIDE PETROMOLY, INC.
(REGISTRANT)
By: /s/ Robert S. Vail
_____________________________
July 13, 2001 Robert S. Vail
Chairman of the Board and
Chief Financial Officer
EXHIBIT INDEX
EXHIBIT NUMBER DESCRIPTION
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16.1 Letter from Rhodes & Jackson P.C. regarding Change in
Certifying Accountant