Annual Report — Form 10-K
Filing Table of Contents
Document/Exhibit Description Pages Size
1: 10-K Nu-Kote Holding, Inc. 83 490K
2: EX-10.18 First Amendment to Trademark License Agreement 4 21K
3: EX-10.19 Amendment to Non-Competition Agreement 2 14K
4: EX-10.20 Credit & Security Agreement 76 273K
5: EX-10.21 1st Amendment to Credit & Security Agreement 12 43K
6: EX-10.22 Retention Agreements 42 172K
7: EX-10.23 Consulting Agreement 4 15K
8: EX-18 Preferability Letter 1 9K
9: EX-21.1 Subsidiaries of Holding 1 8K
10: EX-23.1 Consent of Kpmg LLP 1 9K
11: EX-23.2 Consent of Pricewaterhousecoopers LLP 1 7K
12: EX-27 Financial Data Schedule 1 10K
13: EX-99.1 Disclosure Statement 131 587K
14: EX-99.2 Second Amendment to the Disclosure Statement 144 627K
EX-18 — Preferability Letter
EXHIBIT 18
Nu-kote Holdings, Inc.
Nashville, Tennessee
January 7, 2000
Gentlemen:
We have audited the consolidated balance sheet of Nu-kote Holdings, Inc. and
subsidiaries as of March 31, 1999 and the related consolidated statements of
operations, changes in shareholders' equity (deficit) and comprehensive loss and
cash flows for the year ended March 31, 1999, and have reported thereon under
date of January 7, 2000. The aforementioned financial statements and our audit
report thereon are included in the Company's 1999 Annual Report on Form 10-K. As
disclosed in Note 3 to those financial statements, the Company changed its
method of accounting for the costs of its inventories from the last-in first-out
(LIFO) method to the first-in first-out (FIFO) method and indicated that the
newly adopted accounting principle is preferable in the circumstances because it
better measures the current value of such inventories, avoids distortion of
profits resulting from decrements and deflation, and provides a more appropriate
matching of revenue and expenses for the current and future periods.
Additionally, the change will enhance the comparability of the Company's
financial statements by changing to the predominant method utilized in its
industry.
In accordance with your request, we have reviewed and discussed with Company
officials the circumstances and business judgment and planning upon which the
decision to make this change in the method of accounting was based.
With regard to the aforementioned accounting change, authoritative criteria
have not been established for evaluating the preferability of one acceptable
method of accounting over another acceptable method. However, for purposes of
Nu-kote Holdings, Inc.'s compliance with the requirements of the Securities and
Exchange Commission, we are furnishing this letter.
Based on our review and discussion, with reliance on management's business
judgment and planning, we concur that the newly adopted method of accounting is
preferable in the Company's circumstances.
Very truly yours,
KPMG LLP
Dates Referenced Herein and Documents Incorporated by Reference
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