UNITED STATES
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
Date of Report (Date of earliest event reported) March 19, 2002
CLEAN SYSTEMS TECHNOLOGY GROUP, LTD.
(Exact name of registrant as specified in its charter)
NEW YORK 000-14646 06-1113228
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(State of Incorporation) (Commission File Number) (IRS Employer
Identification No.)
4 ASHLAGAN STREET, P.O. BOX 8624, KIRYAT GAT, ISRAEL, 82021
(Address of principal executive offices, including zip code)
(011) 972-8 660 2108
(Registrant's telephone number, including area code)
ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANTS.
On March 29, 2005, Moore Stephens, P.C., the independent registered
public accounting firm for Clean Systems Technology Group, Ltd. (the "Company"),
was dismissed. By letter dated March 29, 2005 Clean Systems Technology Group,
Ltd. ("CSTI" or the "Company") terminated the services of Moore Stephens, P.C.
("Moore") the independent registered public accounting firm of CSTI for the last
three years. The Company has hired Sherb & Co., LLP to become auditors
commencing for the fiscal year ended December 31, 2004. The reports of Moore on
the Company's consolidated financial statements as of and for the fiscal years
ended December 31, 2003, 2002 and 2001 did not contain any adverse opinion or a
disclaimer of opinion, nor were they qualified or modified as to audit scope or
accounting principles. During the fiscal year ended December 31, 2004, and
through March 29, 2005, there were no disagreements with Moore on any matters of
accounting principles or practices financial statement disclosure, or auditing
scope or procedure which, if not resolved to Moore's satisfaction, would have
caused Moore to make reference to the subject matter in connection with periods;
and there were no reportable events as defined in Item 304 (a) (1) (v) of
Regulation S-B. The Company's Board of Directors has chosen Sherb & Co., LLP as
its new auditors and has authorized the termination of audit services by Moore.
The Company provided Moore with a copy of the foregoing disclosures and
requested Moore to 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 March 29, 2005, is filed as Exhibit 16.1 to this Form 8-K.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(c) Exhibits
Exhibit 1 - Letter, dated March 29, 2005 from Moore Stephens
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 thereunto duly authorized.
Dated: March 31, 2005
CLEAN SYSTEMS TECHNOLOGY GROUP, LTD.
By: /s/ JACOB LUSTGARTEN
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Name: Jacob Lustgarten
Title: Chief Executive Officer