UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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) May 16, 2005
FINOTEC GROUP, INC.
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(Exact name of registrant as specified in its charter)
18 West 33rd Street, Second Floor
New York, NY 10005
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(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: 866-243-0771
ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANTS.
On June 10, 2002 Finotec Group, Inc. the "Company") dismissed Hoberman,
Miller, Goldstein & Lesser, P.C., C.P.A. ("Hoberman Miller") as our principal
public accountants and engaged Gvilli & Co., C.P.A. to serve as our principal
public accountants. This decision was made by the Board of Directors of the
Company.
Hoberman Miller rendered its report with respect to our consolidated
financial statements as of and for the fiscal year ended January 31, 2004 and
the consolidated financial statements for the fiscal year ended January 31, 2004
which financial statements were included within our annual report on Form 10-KSB
filed with the Securities and Exchange Commission on May 15, 2005.
Hoberman Miller's reports on the consolidated financial statements of the
Company and its subsidiaries for the two most recent fiscal years ended January
31, 2004 did not contain any adverse opinion or disclaimer of opinion, nor were
they qualified or modified as to uncertainty or audit scope.
Since its engagement as our principal public accountants, and through the
date of this report, (i) there was no disagreement with Hoberman Miller on any
matter of accounting principles or practices, financial statement disclosure, or
auditing scope or procedure which, if not resolved to the satisfaction of
Hoberman Miller, would have caused Hoberman Miller to make reference to the
subject matter of the disagreement in connection with their report on our
consolidated financial statements and (ii) there was no disagreement or
difference of opinion with Hoberman Miller regarding any "reportable event," as
that term is defined in Item 304(a)(1)(v) of Regulation S-K.
During the Company's two most recent fiscal years ended January 31, 2004
and the subsequent interim period through the date of this report, the Company
did not consult Hoberman Miller with respect to 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 Company's consolidated financial
statements, or any other matters or reportable events as set forth in Items
304(a)(2)(i) and (ii) of Regulation S-K.
We provided Hoberman Miller with a copy of this report and requested that
Hoberman Miller furnish us with a letter addressed to the Securities and
Exchange Commission stating whether it agrees with the statements made by us in
this report and, if not, stating the respects in which it does not agree.
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.
Date: May 16, 2005 Finotec Group, Inc.
By: /s/ Didier Essemini
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Name: Didier Essemini
Title: President
CONTACT: Didier Essemini - didier_e@finotec.com