FINGERMATRIX INC filed this 8-K on 07/24/2000.
Entire Document (200)
SECURITIES AND EXCHANGE COMMISSION (81)
Item 4. Changes in Registrant`s Certifying Accountant. (38)
Item 7. Financial Statements and Exhibits. (11)
SIGNATURE (73)
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SECURITIES AND EXCHANGE COMMISSION
Washington, DC
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): July 19, 2000
The Finx Group, Inc.
(Exact name of Registrant as Specified in its Charter)
(formerly known as Fingermatrix, Inc.)
Delaware 0-9940 13-2854686
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File No.) Identification No.)
249 North Saw Mill River Road, Elmsford, New York 10523
(Address of Principal Executive Office)
Registrant's telephone number, including area code: (914) 592-5930
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Item 4. Changes in Registrant's Certifying Accountant.
Effective for its fiscal year commencing January 1, 2000, the Company
has changed its independent auditors from Cornick, Garber & Sandler, LLP (the
"Former Accountant") to Moore Stephens, PC (the "New Accountant").
The Former Accountant was dismissed. The report of the Former
Accountant for the consolidated balance sheet of The Finx Group, Inc.
(formerly known as Fingermatrix, Inc.) and its subsidiaries as of December 31,
1999, and the related consolidated statements of operations, changes in
stockholders' equity, and cash flows for each of the two years in the period
ended December 31, 1999 did not contain an adverse opinion or a disclaimer of an
opinion, nor was it modified as to audit scope or accounting principles. The
opinion was, however, qualified by the assumption that the Company will continue
as a going concern on the basis that; (1) the Company has a history of declining
revenues and of net losses for the two years ended December 31, 1999, (2) as of
December 31, 1999 the Company has a working capital deficiency of $2.241 million
and a capital deficiency of $2.117 million and (3) the Company has relied on
continuing financial support from its controlling stockholder. The opinion of
the Former Accountant as of December 31, 1999 states that these conditions raise
substantial doubt about the Company's ability to continue as a going concern.
The decision to change accountants was approved by the Company's Board
of Directors. The Company has no audit committee. During each of the two years in the period ended December 31, 1999 and the subsequent interim period since December 31, 1999, there were no disagreements with the Former Accountant on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure. None of the events described in Item 304 (a)(i)(v) of Regulation S-K promulgated under the Securities Act of 1933, as amended, occurred during the Company's two most recent fiscal years and the subsequent interim period since December The New Accountant was engaged on July 19, 2000 to audit the Company's financial statements for its year ended December 31, 2000. Item 7. Financial Statements and Exhibits. (c) Exhibits 99.1 Opinion of Cornick, Garber & Sandler, LLP, Independent Certified Accountants for the year ended December 31, 1999.
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SIGNATURE Pursuant to the requirements of the Securities Exchange Act 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. THE FINX GROUP, INC. Date: July 19, 2000 By: /S/ Lewis S. Schiller Lewis S. Schiller, Chief Executive Officer
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Exhibit 99.1 To the Board of Directors and Stockholders of Fingermatrix, Inc. New York, New York We have audited the accompanying consolidated balance sheet of Fingermatrix, Inc. and its subsidiaries as of December 31, 1999, and the related consolidated statements of operations, changes in stockholders' equity, and cash flows for each of the two years in the period ended December 31, 1999. These consolidated financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these consolidated financial statements based on our audits. We conducted our audits in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the consolidated financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management as well as evaluating the overall consolidated financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the consolidated financial position of Fingermatrix, Inc and its subsidiaries as of December 31, 1999, and the consolidated results of their operations and their cash flows for each of the two years in the period ended December 31, 1999, in conformity with generally accepted accounting principles. The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 1 to the financial statements; (1) the Company has a history of declining revenues and of net losses for the two years ended December 31, 1999, (2) as of December 31, 1999 the Company has a working capital deficiency of $2.241 million and a capital deficiency of $2.117 million and (3) the Company has relied on continuing financial support from its controlling stockholder. These conditions raise substantial doubt about the Company's ability to continue as a going concern. Management's plans regarding these matters are also described in Note 1. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. Cornick, Garber & Sandler, LLP Certified Public Accountants New York, New York May 4, 2000 |
