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 (Date of earliest event reported): July 12, 2005
DRAGON PHARMACEUTICAL INC.
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(Exact name of registrant as specified in its charter)
Florida 0-27937 65-0142474
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State or Other Jurisdiction of (Commission File Number) (IRS Employer
Incorporation) Identification No.)
1055 Hastings Street, Suite 1900
Vancouver, British Columbia V6E 2E9
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(Address of Principal Executive Offices) (Zip Code)
(604) 669-8817
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(Registrant's telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
[ ] Soliciting material pursuant to Rule 4a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
SECTION 4. MATTERS RELATED TO ACCOUNTANTS AND FINANCIAL STATEMENTS
Item 4.01 Changes in Registrant's Certifying Accountant
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Dragon Pharmaceutical Inc. (the "Registrant") was informed that its
independent registered public accounting firm of Moore Stephens Ellis Foster
Ltd. ("Moore Stephens"), merged with and into Ernst & Young LLP on May 5, 2005.
On July 10, 2005, the Registrant's board of directors formally approved the
engagement of Ernst & Young as the Registrant's independent registered public
accounting firm for 2005. On July 12, 2005, the former Moore Stephens
representative who is now associated with Ernst & Young informed the Registrant
that the merger of Moore Stephens into Ernst & Young on May 5, 2005, effectively
constituted their resignation as the Registrant's independent accountant
responsible for auditing its financial statements, and that effective as of such
date, Moore Stephens no longer acted as the Registrant's independent registered
public accountant. Therefore, effective on May 5, 2005, Ernst & Young LLP, the
successor firm to Moore Stephens, was engaged as the independent registered
public accounting firm of the Registrant.
Moore Stephens' report on the Registrant's financial statements for the
year ended December 31, 2004 did not contain an adverse opinion or a disclaimer
of opinion, nor was it qualified or modified as to uncertainty, audit scope, or
accounting principles.
During the period covered by the report of Moore Stephens and up to the
effective date of resignation, the Registrant had no disagreements with Moore
Stephens, whether or not resolved, on any matter of accounting principles or
practices, financial statement disclosure, or auditing scope or procedure, which
disagreements, if not resolved to the satisfaction of Moore Stephens, would have
caused Moore Stephens to make reference to the subject matter of the
disagreement in connection with its reports.
During the Registrant's previous two fiscal years and up to the effective
date of resignation, the Registrant did not consult with Ernst & Young regarding
any of the items described under Item 304(a)(1)(iv)(B), Item 304(a)(2) or Item
304(b) of Regulation S-B.
The Registrant has provided Moore Stephens with a copy of this report.
Attached as Exhibit 16.1 is a copy of a letter from Moore Stephens agreeing with
the statements made in this report.
SECTION 9. FINANCIAL STATEMENTS AND EXHIBITS
Item 9.01 Financial Statements and Exhibits
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The following exhibits are furnished as part of this report:
Exhibit 16.1 - Letter from Moore Stephens Ellis Foster Ltd.
SIGNATURE
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.
DRAGON PHARMACEUTICAL INC.,
a Florida Corporation
Dated: July 12, 2005 /s/ Maggie Deng
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Maggie Deng
Chief Operating Officer