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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
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AUGUST 13, 2002
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED)
THEGLOBE.COM, INC.
(Exact name of registrant as specified in its charter)
DELAWARE 0-25053 14-1781422
(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) Identification Number)
110 EAST BROWARD BOULEVARD
14TH FLOOR
FORT LAUDERDALE, FL 33301
(Address of principal executive offices)
(954) 769-5900
(Registrant's telephone number, including area code)
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Item 4. Change in Registrant's Certifying Accountant.
On August 8, 2002, we dismissed our independent public accountants, KPMG LLP
("KPMG"), and engaged Rachlin Cohen & Holtz LLP ("Rachlin Cohen") as our new
independent public accountants. This change was approved by our Board of
Directors. Rachlin Cohen will review our financial statements for the quarter
ended June 30, 2002 that will be included in our Quarterly Report on Form 10-Q
to be filed with the Securities and Exchange Commission by no later than August
14, 2002.
The audit reports issued by KPMG on our consolidated financial statements as of
and for the years ended December 31, 2001 and December 31, 2000, did not contain
any adverse opinion or a disclaimer of opinion, and were not qualified or
modified, as to uncertainty, audit scope or accounting principles, except as
follows:
KPMG's report on the consolidated financial statements of theglobe.com,
inc. and subsidiaries as of and for the years ended December 31, 2001 and
2000, contained a separate paragraph stating "the Company has suffered
recurring losses from operations since inception that raise substantial
doubt about its ability to continue as a going concern. Management's plans
in regard to this matter are also described in Note 1. The consolidated
financial statements do not include any adjustments that might result from
the outcome of this uncertainty."
During our two most recent fiscal years ended December 31, 2001 and December 31,
2000, and the subsequent interim period from January 1, 2001 through our
dismissal of KPMG on August 8, 2002, there were no disagreements with KPMG on
any matter of accounting principles or practices, financial statement
disclosure, or auditing scope or procedure, which disagreements, if not resolved
to KPMG's satisfaction, would have caused KPMG to make reference to the subject
matter of the disagreement in connection with its reports on our consolidated
financial statements for such years; and there were no reportable events as
defined in Item 304(a)(1)(v) of Regulation S-K.
The Company furnished KPMG with a copy of this Report on Form 8-K and requested
KPMG to furnish it with a letter addressed to the Securities and Exchange
Commission ("Commission") stating whether it agrees with the statements set
forth above. A copy of KPMG's letter to the Commission dated August 13, 2002 is
filed as Exhibit 16 to the Report on Form 8-K.
During the fiscal years ended December 31, 2001 and December 31, 2000 and
through August 8, 2002, we did not consult with Rachlin Cohen with respect to
the application of accounting principles to a specified transaction, or the type
of audit opinion that might be rendered on our consolidated financial
statements, or any other matters or events described in Item 304(a)(2)(i) and
(ii) of Regulation S-K.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
Exhibit 16 Letter dated August 13, 2002 from KPMG LLP to the Commission.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on behalf of the undersigned
hereunto duly authorized.
Dated: August 13, 2002
theglobe.com, inc.
By: /s/
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Michael S. Egan
Chief Executive Officer
By: /s/
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Edward A. Cespedes
President
By: /s/
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Robin M. Segaul
Chief Financial Officer
Exhibit Index
16 Letter dated August 13, 2002 from KPMG LLP to the Securities and Exchange
Commission