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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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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 REPORT (DATE OF EARLIEST EVENT REPORTED):
OCTOBER 3, 2007
GREYSTONE LOGISTICS, INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
OKLAHOMA 000-26331 75-2954680
(STATE OR OTHER JURISDICTION (COMMISSION FILE NUMBER) (I.R.S. EMPLOYER
OF INCORPORATION) IDENTIFICATION NO.)
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1613 E. 15TH, TULSA, OKLAHOMA 74120
(Address of principal executive offices) (Zip Code)
(918) 583-7441
(Registrant's telephone number, including area code)
NOT APPLICABLE
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))
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ITEM 4.01. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.
PREVIOUS INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
On October 3, 2007, Murrell, Hall, McIntosh & Co., PLLP ("MHM") was
dismissed as the independent registered public accounting firm of Greystone
Logistics, Inc. (the "Company"). The Board of Directors of the Company approved
the dismissal.
MHM's reports on the Company's financial statements for the fiscal years
ended May 31, 2007 and 2006, were qualified by the assumption that the Company
would continue as a going concern. In general, MHM qualified its reports due to
its substantial doubt about the Company's ability to continue as a going concern
unless additional funds from outside sources, its president or other board
members are obtained. The reports of MHM on the Company's consolidated financial
statements for the fiscal years ended May 31, 2007 and 2006 contained no other
adverse opinion or disclaimer of opinion and were not otherwise qualified or
modified as to uncertainty, audit scope or accounting principles.
During the years ended May 31, 2007 and 2006, there were no disagreements
with MHM on any matter of accounting principles or practices, financial
statement disclosure or auditing scope or procedure, which disagreements if not
resolved to the satisfaction of MHM would have caused MHM to make reference to
the subject matter of the disagreements in connection with its reports on the
financial statements for such years.
As of the date of this Report, the Company was not required to perform an
audit of its internal control over financial reporting and MHM had not been
engaged to perform any such an audit.
The Company has asked MHM to furnish it with a letter addressed to the
Securities and Exchange Commission stating whether it agrees or disagrees with
the statements in this Item 4.01. The Company intends to file a copy of that
letter as an exhibit to a report on Form 8-K when it receives such letter. The
Company has authorized MHM to fully respond to the inquiries of Tullius Taylor
Sartain & Sartain LLP ("Tullius Taylor"), the successor accountants selected by
the Company.
NEW INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
On October 3, 2007, the Board of Directors of the Company engaged Tullius
Taylor as the Company's independent registered public accounting firm for the
year ending May 31, 2008 and to perform procedures related to the financial
statements included in the Company's quarterly reports on Form 10-QSB, beginning
with the quarter ending August 31, 2007. The Company has not consulted with
Tullius Taylor during its two most recent fiscal years or any subsequent interim
period regarding: (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 financial statements; or (ii) any matter that was
the subject of a disagreement with the Company's former independent registered
public accounting firm.
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 hereunto duly authorized.
GREYSTONE LOGISTICS, INC.
Date: October 9, 2007 By: /s/ Warren F. Kruger
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Warren F. Kruger
President and Chief Executive Officer