Team Sports Entertainment, Inc.
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15 (d)
OF THE SECURITIES EXCHANGE ACT OF 1934
December 11, 2002
DATE OF REPORT (Date of
Earliest Event Reported)
Team Sports Entertainment, Inc.
(Exact Name Of Registrant As Specified In Its Charter)
Commission File Number 0-23100
| Delaware |
|
22-2649848 |
| (State Or Other Jurisdiction |
|
(IRS Employer |
| Of Incorporation Or Organization) |
|
Identification No.) |
13801 Reese Boulevard West
Suite 150
Huntersville, North Carolina 28028
(Address Of Principal Executive Offices)
(704) 992-1290
(Registrant’s Telephone Number, Including Area Code)
ITEM 4. CHANGES IN REGISTRANT’S CERTIFYING ACCOUNTANT
Team Sports Entertainment, Inc. (the “Company”) has elected, effective December 11, 2002, to engage Elliott Davis LLC
(“Elliott Davis”) as its independent auditors to audit the Company’s consolidated financial statements for the year ending December 31, 2002. Elliott Davis will commence its engagement with the review of the Company’s financial
statements for the fiscal fourth quarter and the audit of the fiscal year ending December 31, 2002. The decision to dismiss Guest & Company, P.C. (“Guest”), the Company’s prior independent auditors, and to retain Elliott Davis as
the Company’s independent auditors was made by the Audit Committee of the Board of Directors.
The
Company’s auditors for the 2001 fiscal year was Guest. Guest’s report on the Company’s consolidated financial statements for the year ended December 31, 2001, did not contain an adverse opinion or disclaimer of opinion, nor was it
otherwise modified as to uncertainty, audit scope or accounting principles.
The Company’s auditors for the
2000 fiscal year was Bonadio & Co., LLP (“Bonadio”). Bonadio’s report on the Company’s consolidated financial statements for the year ended December 31, 2000 did not contain an adverse opinion or disclaimer of opinion, nor
was it otherwise modified as to uncertainty, audit scope or accounting principles.
During the years ended
December 31, 2001 and 2000 and through the date of this Current Report on Form 8-K, there were no disagreements between the Company and Guest, or the Company and Bonadio, as applicable, on any matter of accounting principle or practice, financial
statement disclosure, or auditing scope or procedure which, if not resolved to Guest’s or Bonadio’s satisfaction, as applicable, would have caused it to make reference to the subject matter of the disagreement in connection with its report
on the Company’s consolidated financial statements for such years; and there were no reportable events as defined in Item 304(a)(1)(iv)(B) of Regulation S-B.
The Company has provided each of Guest and Bonadio with a copy of the foregoing disclosures. Attached as Exhibit 16.1 is a copy of Guest’s letter, dated December
17, 2002, and attached as Exhibit 16.2 is a copy of Bonadio’s letter, dated December 17, 2002, each stating that it agrees with such statements.
During the two most recent fiscal years ended December 31, 2001 and 2000 and through the date of this Current Report on Form 8-K, the Company has not consulted with Elliott
Davis regarding either (i) the application of accounting principles to a specific completed or contemplated transaction; or the type of audit opinion that might be rendered on the Company’s consolidated financial statements, and neither written
nor oral advice was provided to the Company that Elliott Davis concluded was an important factor considered by the Company in reaching a decision as to the accounting, auditing, or financial reporting issues; or (ii) any matter that was either the
subject of a disagreement, as that term is defined in Item 304(a)(1)(iv) of Regulation S-B and the related instructions to Item 304 of Regulation S-B.
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ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits.
| Exhibit No.
|
|
Description
|
| |
| Exhibit 16.1 |
|
Letter from Guest & Company, P.C. to the Securities and Exchange Commission, dated December 17,
2002 |
| |
| Exhibit 16.2 |
|
Letter from Bonadio & Co., LLP to the Securities and Exchange Commission, dated December 17,
2002 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has caused this report to be signed on its behalf by the undersigned, hereunto duly
authorized, this 17th day of December, 2002.
| |
| TEAM SPORTS ENTERTAINMENT, INC. |
| |
| By |
|
/S/ CHARLES BRADSHAW
|
| |
|
Charles Bradshaw |
| |
|
Chief Executive Officer |
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EXHIBIT INDEX
| Exhibit No.
|
|
Description
|
| |
| 16.1 |
|
Letter from Guest & Company, P.C. to the Securities and Exchange Commission, dated December 17,
2002 |
| |
| 16.2 |
|
Letter from Bonadio & Co., LLP to the Securities and Exchange Commission, dated December 17,
2002 |
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