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 Event Requiring Report: July 31, 2003
SONA DEVELOPMENT CORP.
(FORMALLY KNOWN AS NET MASTER CONSULTANTS, INC.)
(Exact Name of Registrant as Specified on its Charter)
000-28311 76-027334
--------- ---------
(Commission File Number) (IRS Employer Identification Number)
TEXAS
(State or Other Jurisdiction of Incorporation or Organization)
1177 West Hastings Street, Suite 1818, Vancouver,
British Columbia, Canada V6E 2K3
(Address of Principal Executive Offices)
(604) 602-1717
(Registrant's Telephone Number, Including Area Code)
ITEM 4. Changes in Registrant's Certifying Accountant
(a) Previous independent accountants
On July 31, 2003, Grant Thornton LLP ("Grant Thornton") the principal accountant
previously engaged to audit the Company's financial statements, resigned as
auditors of Sona Development Corp. ("the Company"). On August 6, 2003, the
Company retained LaBonte & Co. Chartered Accountants ("LaBonte") as the
principal accountants to replace Grant Thornton. The Company's board of
directors approved the change of accountants from Grant Thornton to LaBonte.
The audit reports of Grant Thornton on the Company's financial statements for
the two most recent fiscal years ending December 31, 2002 and December 31, 2001
did not contain any adverse opinion or disclaimer of opinion, nor were they
qualified or modified as to uncertainty, audit scope, or accounting principles,
except such reports were modified to include an explanatory paragraph for a
going concern uncertainty.
In connection with the audits of the fiscal years ending December 31, 2002 and
December 31, 2001 including the subsequent interim periods through July 31,
2003, the date of termination, the Company had no disagreements with Grant
Thornton with respect to accounting or auditing issues of the type discussed in
Item 304(a)(iv) of Regulation S-B. Had there been any disagreements that were
not resolved to their satisfaction, such disagreements would have caused Grant
Thornton to make reference in connection with their opinion to the subject
matter of the disagreement. In addition, during that time there were no
reportable events (as defined in Item 304(a)(1)(iv) of Regulation S-B).
The Company provided Grant Thornton with a copy of this report prior to filing
it with the Securities and Exchange Commission ("Commission"). The Company
requested that Grant Thornton furnish the Company with a letter to the
Commission stating whether Grant Thornton agrees with the above statements. A
copy of that letter dated August 6, 2003 is filed as an Exhibit to this Form
8-K.
(b) New independent accountants
During the fiscal years ending December 31, 2002 and December 31, 2001,
including the subsequent interim periods through July 31, 2003, the date of
Grant Thornton's termination, and prior to the appointment of LaBonte, the
Company (or anyone on its behalf) did not consult with LaBonte regarding any of
the accounting or auditing concerns stated in Item 304(a)(2) of Regulation S-B.
Since there were no disagreements or reportable events (as defined in Item
304(a)(2) of Regulation S-B), the Company did not consult Staley in respect to
these matters during the time periods detailed herein.
ITEM 7. Financial Statements and Exhibits
The following exhibit is included as part of this report:
EXHIBIT PAGE
NO. NO. DESCRIPTION
16 4 Letter from Grant Thornton stating that it has reviewed
the Form 8-K and has no objection to the statements made
within this Form 8-K.
Pursuant to the requirements of the Securities Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
SONA DEVELOPMENT CORP.
Signature Date
By: /s/ Nora Coccaro August 5, 2003
----------------
Corporate Secretary
EXHIBIT 16
August 6, 2003
Office of the Chief Accountant
Securities and Exchange Commission
450 West Fifth Street N.W.
Washington DC 20549
Ladies and Gentlemen
We have read Item 4 of the Form 8-K of Sona Development Corp. and agree with the
statements contained in Item 4(a). We have no basis to agree or disagree with
the statements contained in Item 4 (b).
Yours truly,
/s/ Grant Thornton LLP.
CHARTERED ACCOUNTANTS