UNITED STATES
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
Date of Report (Date of earliest event reported) May 1, 2003
OLYMPIC CASCADE FINANCIAL CORPORATION
------------------------------------------------------
(Exact name of registrant as specified in its chapter)
DELAWARE 001-12629 36-4128138
-------- --------- ----------
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
875 North Michigan Avenue, Suite 1560, Chicago, Illinois 60611
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code 312-751-8833
__________________________________________________________
(Former name or former address, if changed since last report)
Item 4. Changes in Registrant's Certifying Accountant.
Effective May 1, 2003, Olympic Cascade Financial Corporation dismissed Grassi &
Co., CPAs, P.C. ("Grassi") as the Company's independent accountants. The action
was approved by the Company's Audit Committee.
Feldman Sherb & Co., P.C., a professional corporation of certified public
accountants ("Feldman"), was the independent accounting firm for the Company for
the year ended September 28, 2001 and through the period ended April 19, 2002.
Feldman was merged into Grassi on April 17, 2002, with Grassi as the successor
firm.
The reports of Grassi and Feldman on the financial statements of the Company for
either of the past two fiscal years did not contain any adverse opinion or
disclaimer of opinion and were not qualified or modified as to uncertainty,
audit scope or accounting principles.
In addition, during the Company's two most recent fiscal years and through May
1, 2003, there was no disagreement with Grassi on any matter of accounting
principles or practices, financial statement disclosure, or auditing scope or
procedure.
The Company has requested that Grassi furnish it with a letter addressed to the
Securities and Exchange Commission stating whether or not it agrees with the
statements in this Item 4. A copy of any response received by the Company to
that request will be promptly filed as an amendment to this Form 8-K, and no
later than two business days after received by the Company.
On May 1, 2003, the Company's Audit Committee engaged Marcum & Kliegman LLP
("MKLLP") as the Company's new independent accountants for the year ending
September 30, 2003. During the two most recent fiscal years and the interim
period preceding the engagement of MKLLP, the Company had not consulted with
MKLLP regarding either: (i) 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 financial statements, and
neither a written report nor oral advice was provided to the Company by MKLLP
that MKLLP concluded was an important factor considered by the Company in
reaching a decision as to an accounting, auditing, or financial reporting issue;
or (ii) any matter that was either the subject of a "disagreement" or event
identified in response to paragraph (a)(1)(iv) of Item 304, as those terms are
used in Item 304(a)(1)(iv) of Regulations S-B and S-K and the related
instructions to Item 304 of Regulations S-B and S-K.
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.
OLYMPIC CASCADE FINANCIAL CORPORATION
May 5, 2003 By: /s/ Mark Goldwasser
Mark Goldwasser
President and Chief Executive Officer