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) April 14, 2003
MEGO FINANCIAL CORP.
___________________________________________
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER
NEW YORK 1-8645 13-5629885
(STATE OR OTHER (COMMISSION (IRS EMPLOYER
JURISDICTION OF FILE NUMBER) IDENTIFICATION NO.)
FORMATION)
1645 VILLAGE CENTER CIRCLE, LAS VEGAS, NV 89134
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE (702) 992-4200
Item 4. Changes in Registrant's Certifying Accountant.
On April 8, 2003, the Company received a letter of resignation from BDO Seidman,
LLP ("BDO"), also dated April 8, 2003, stating in its entirety:
"This will confirm that the client-auditor relationship between Mego Financial
Corp. (Commission File Number 1-8645) and BDO Seidman, LLP has ceased." (The
letter is attached hereto as Exhibit 3-6)
Prior to the receipt of a telephone call from BDO notifying the Company of this
letter, neither management nor the Company's Audit Committee had notice,
discussion, or information pertaining to the action taken by BDO Seidman. BDO
was engaged on December 27, 2002 to conduct the audit of the Company's financial
statements for the fiscal year ended December 31, 2002 and has not rendered any
reports on the Company's financial statements.
On April 2, 2003, the auditors from BDO met with the Audit Committee of the
Board of Directors of the Company During that meeting the Audit Committee was
advised by BDO, based on the progress of their audit, that the Audit Committee
could expect that the completion of the audit by BDO would not delay the filing
by the Company of its Form 10-K. Management concurred with BDO's proposed
conclusion that a "going concern" qualification would be required in BDO's audit
report. There were no disagreements or reportable events within the meaning of
Item 304 of Regulation S-K.
As of the date of the letter from BDO, neither management nor the Audit
Committee were aware of any areas of disagreement between the auditors and the
Company on any matter of accounting principles or practices, financial statement
disclosure, or auditing scope or procedure, which disagreements if not revolved
to BDO Seidman, LLP's satisfaction, would have caused them to make reference to
the subject matter of the disagreement in connection with their report.
The Company anticipates that new auditors will be engaged to audit the Company's
2002 financial statements within the next 30 days.
Item 7. FINANCIAL STATEMENTS AND EXHIBITS
03-6 Copy of April 8, 2003 letter from BDO Seidman to Mego
Financial Corp.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Company has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
MEGO FINANCIAL CORP.
By: / s / Floyd W. Kephart
-----------------------------------
Floyd W. Kephart
Chief Executive Officer
Dated: April 14, 2003