UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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: June 29, 2001
SUMMIT LIFE CORPORATION
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(Exact name of registrant as specified in its charter)
Oklahoma
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(State or other jurisdiction of incorporation)
000-25253 73-1448244
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(Commission File Number) (I.R.S. Employer
Identification No.)
3201 Epperly Dr., Oklahoma City, OK 73155
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(Address of principal executive offices) (Zip Code)
(405) 677-0781
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(Registrant's telephone number, including area code)
Item 4. Change in Registrant's Certifying Accountant
As of June 29, 2001, the Registrant's Board of Directors dismissed
Grant Thornton LLP as the Registrant's independent accountants and appointed
Gary Skibicki CPA, P.C. as the Registrant's independent accountants.
The reports of Grant Thornton LLP on the Registrant's consolidated
financial statements as of and for the years ended December 31, 2000 and 1999
did not contain any adverse opinion or disclaimer of opinion, and neither report
was qualified or modified as to uncertainty, audit scope or accounting
principles.
The decision to change independent accountants was recommended by the
Registrant's Audit Committee, and approved by the Registrant's Board of
Directors on June 29, 2001.
During the two most recent fiscal years and through the date of this
report, the Registrant has not had any disagreements with Grant Thornton LLP,
except as set forth below in this paragraph, on any matter of accounting
principles or practices, financial statement disclosure or auditing scope or
procedure, which disagreement(s), if not resolved to the satisfaction of Grant
Thornton LLP would have caused Grant Thornton LLP to make reference thereto in
their report on the consolidated financial statements of the Registrant for such
periods. During the two most recent fiscal years and through the date of this
report, the Registrant has had one disagreement with Grant Thornton LLP
regarding the manner in which the Registrant recorded a gain on the sale of a
Communications Site Lease Agreement during the first quarter of 2001. The
Registrant's Audit Committee was informed of the disagreement by letter from
Grant Thornton LLP. After considerable discussion, the Registrant accepted the
recommendations of Grant Thornton LLP and the matter was resolved to the
satisfaction of Grant Thornton LLP. The Registrant has authorized Grant Thornton
LLP to respond fully to inquiries of Gary Skibicki CPA, P.C., regarding the
subject matter of the disagreement.
The Registrant, during the course of evaluating Grant Thornton LLP's
recommendation, discussed the recording of the gain on the sale of the
Communications Site Lease Agreement with Gary Skibicki CPA, P.C., and Gary
Skibicki CPA, P.C. concurred with the recommendations of Grant Thornton LLP
regarding the manner in which the gain on the sale should be recorded. The
Registrant will record the gain on the sale of the Communications Site Lease
Agreement in accordance with the recommendations of Grant Thornton LLP.
The Registrant has requested Gary Skibicki CPA, P.C. to review the
disclosure required by this Item 4 and Gary Skibicki CPA, P.C. has informed the
Registrant that it concurs with the disclosure as set forth in this Item 4
concerning Gary Skibicki CPA, P.C.
Other than the disagreement set forth above, during the Registrant's
two most recent fiscal years and through the date of this report, the Registrant
has not had any reportable events as defined in Item 304 (a) (l) (iv) of
Regulation S-B.
The Registrant has requested that Grant Thornton LLP furnish it with a
letter addressed to the Securities and Exchange Commission stating whether it
agrees with the above statements. A copy of that letter dated July 6, 2001 is
filed as Exhibit 16 to this Form 8-K.
Item 7. Financial Statements and Exhibits.
(c) Exhibits. The following document is filed as part of this Report:
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16 Letter to SEC from Grant Thornton LLP dated July 6, 2001.
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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.
SUMMIT LIFE CORPORATION
(Registrant)
Date: June 29, 2001 BY: /s/ Charles L. Smith
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Charles L. Smith,
President and Chief Operating Officer
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INDEX TO EXHIBITS
Appears at
Sequentially
Exhibit Numbered
Number Description Page
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16 Letter to SEC from Grant Thornton LLP dated July 6, 2001. 5
4