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
November 24, 2003
(Date of report)
POWERCHANNEL, INC.
Delaware 001-11540 65-0952186
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(State of Incorporation) (Commission File Number) (IRS Employer ID)
16 North Main Street, Suite 395
New City, New York 10956
(Address of principle executive offices)
(845) 634-7979
(Telephone number)
ITEM 4.
Change in Registrant's Certifying Accountant
On November 24, 2003, Radin Glass & Co., LLP informed PowerChannel,
Inc. (the "Company") that the client-auditor relationship between Radin Glass &
Co., LLP and the Company had ended.
During the Company's two most recent fiscal years, the Company and
Radin Glass & Co., LLP had no disagreements on any matter of accounting
principles or practices, financial statement disclosure, or auditing scope or
procedure, which disagreement, if not resolved to the satisfaction of Radin
Glass & Co., LLP, would have caused them to make reference in connection with
their opinion to the subject matter of the disagreement in connection with any
report Radin Glass & Co., LLP might have issued. Furthermore, none of Radin
Glass & Co., LLP's reports on the Company's consolidated financial statements
contained an adverse opinion, disclaimer of opinion, or modification or
qualification of opinion, except that Radin Glass & Co., LLP's report on the
consolidated financial statements for the year ended December 31, 2002 contains
an explanatory paragraph indicating that there is substantial doubt as to the
Company's ability to continue as a going concern. In addition, the Company has
been informed by Radin Glass & Co., LLP that their resignation resulted from the
fact that Company's filed its Form 10-QSB for the quarter ended September 30,
2003 without adequate disclosure indicating that a review of the financial
statements included therein had not been completed by the Company's independent
public accountants.
Effective as of December 16, 2003, the Company re-engaged Radin Glass &
Co., LLP as its independent auditor. The Company is currently undertaking to
have the review completed by its independent public accountants in an expedited
manner. The Company intends to make additional or supplemental disclosure, if
any, if such disclosure is indicated by such review.
ITEM 7.
o Letter from Radin Glass & Co., LLP
SIGNATURE
Pursuant to the requirements of Section 13 or 15(d) 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.
PowerChannel, Inc.
(Registrant)
Dated: December 16, 2003
By: /s/ Steven Lampert
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Steven Lampert
Chief Financial Officer