UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 7, 2010
SOLAR POWER, INC.
California | 000-50142 | 20- 4956638 | ||
(State or other jurisdiction of incorporation or organization) |
(Commission File Number) | (I.R.S. Employer Identification No.) |
1115 Orlando Avenue
Roseville, California 95661-5247
Roseville, California 95661-5247
(916) 746-0900
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):
o Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 4.01. Changes in Registrants Certifying Accountant
On September 7, 2010 the Companys Board of Directors ratified the recommendation of the Audit
Committee that Macias Gini & OConnell, LLP (MGO) be dismissed as the Companys independent
registered public accounting firm. MGOs reports on the Companys consolidated financial
statements as of and for the fiscal years ended December 31, 2008 and 2009 did not contain any
adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty,
audit scope or accounting principle.
During the years ended December 31, 2008 and 2009 and the
subsequent interim periods through the date of
this filing, there were no disagreements with MGO on any matter of accounting principles or
practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if
not resolved to MGOs satisfaction, would have caused MGO to make reference thereon in their
reports on the financial statements for such years. Also during that period there have been no
reportable events described in Item 304(a)(1)(v) of Regulation S-K except Managements Report on Internal Control over Financial Reporting as disclosed in our
Form 10-K for the year ended December 31, 2009 included material weaknesses which were
identified by MGO effecting revenue recognition and contract administration resulting from the
absence of controls to ensure that all relevant contractual documents are included in the
evaluation of the appropriate revenue recognition method and that customer billings are per the
terms of their contracts. The Audit Committee of the Board of Directors discussed the subject
matter of these material weaknesses with MGO. The Company has authorized MGO to respond
fully to the inquiries of the new independent registered public accounting firm concerning the
subject matter of these material weaknesses.
The Company provided MGO with a copy of this Current Report on Form 8-K prior to filing with the
Securities and Exchange Commission (SEC) and requested that MGO furnish a letter addressed to the
SEC stating whether it agrees with the statements above. The Company will file such letter as an exhibit and amend this Current Report
on Form 8-K within two business days of receiving the letter from MGO.
New independent accounting firm
On September 7, 2010, the Company appointed Perry-Smith LLP (P-S) as the Companys new
independent registered public accounting firm fiscal 2010. During the fiscal years ended December
31, 2008 and 2009, and through the date of this filing, neither the Company nor anyone acting on
its behalf consulted with P-S regarding any of the matters or events described in Items
304(a)(2)(i) and (ii) of Regulation S-K.
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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.
SOLAR POWER, INC. a California Corporation |
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Dated: September 13, 2010 | /s/ Alan M. Lefko | |||
Alan M. Lefko | ||||
Vice President of Finance and Secretary |
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