<SEC-DOCUMENT>0001140361-20-006723.txt : 20200324
<SEC-HEADER>0001140361-20-006723.hdr.sgml : 20200324
<ACCEPTANCE-DATETIME>20200324163015
ACCESSION NUMBER:		0001140361-20-006723
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20200319
ITEM INFORMATION:		Changes in Registrant's Certifying Accountant
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20200324
DATE AS OF CHANGE:		20200324

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PAR TECHNOLOGY CORP
		CENTRAL INDEX KEY:			0000708821
		STANDARD INDUSTRIAL CLASSIFICATION:	CALCULATING & ACCOUNTING MACHINES (NO ELECTRONIC COMPUTERS) [3578]
		IRS NUMBER:				161434688
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09720
		FILM NUMBER:		20738765

	BUSINESS ADDRESS:	
		STREET 1:		PAR TECHNOLOGY PARK
		STREET 2:		8383 SENECA TURNPIKE
		CITY:			NEW HARTFORD
		STATE:			NY
		ZIP:			13413
		BUSINESS PHONE:		3157380600

	MAIL ADDRESS:	
		STREET 1:		8383 SENECA TURNPIKE
		CITY:			NEW HARTFORD
		STATE:			NY
		ZIP:			13413
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8k.htm
<DESCRIPTION>8-K
<TEXT>
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      <div style="text-align: center; color: #000000; font-size: 14pt; font-weight: bold;">UNITED STATES</div>
      <div style="text-align: center; color: #000000; font-size: 14pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
      <div style="text-align: center; color: #000000; font-size: 12pt; font-weight: bold;">Washington, D.C. 20549</div>
      <div><br>
      </div>
      <div style="text-align: center; color: #000000; font-size: 18pt; font-weight: bold;">FORM 8-K</div>
      <div><br>
      </div>
      <div style="text-align: center; color: #000000; font-weight: bold;">CURRENT REPORT</div>
      <div style="text-align: center; color: #000000; font-weight: bold;">Pursuant to Section 13 or 15(d) of the</div>
      <div style="text-align: center; color: #000000; font-weight: bold;">Securities Exchange Act of 1934</div>
      <div><br>
      </div>
      <div style="text-align: center;">Date of report (Date of earliest event reported): March 19, 2020</div>
      <div><br>
      </div>
      <div style="text-align: center; color: #000000; font-size: 24pt; font-weight: bold;">PAR Technology Corporation</div>
      <div style="text-align: center;">(Exact name of registrant as specified in its charter)</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" border="0" id="z1f05c09b05f94f3fa450aba324351e37" style="border-collapse: collapse; width: 100%; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">

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              <div style="text-align: center;">Delaware</div>
            </td>
            <td style="background-color: rgb(255, 255, 255); vertical-align: top; width: 34%; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">1-09720</div>
            </td>
            <td style="background-color: rgb(255, 255, 255); vertical-align: top; width: 33%; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">16-1434688</div>
            </td>
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            <td style="width: 33%; vertical-align: top; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">(State or Other Jurisdiction of Incorporation)</div>
            </td>
            <td style="width: 34%; vertical-align: top; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">(Commission File Number)</div>
            </td>
            <td style="width: 33%; vertical-align: top; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">(IRS Employer Identification No.)</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="text-align: center;">PAR Technology Park, 8383 Seneca Turnpike, New Hartford, New York 13413-4991</div>
      <div style="text-align: center;">(Address of Principal Executive Offices) (Zip Code)</div>
      <div><br>
      </div>
      <div style="text-align: center;">Registrant's telephone number, including area code: (315) 738-0600</div>
      <div><br>
      </div>
      <div>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:</div>
      <div><br>
      </div>
      <div>
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                <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0); font-family: 'Segoe UI Symbol',sans-serif;">&#9744;</td>
                <td style="width: auto; vertical-align: top;">
                  <div>Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div>
        <div>
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                <td style="width: 18pt; vertical-align: top; align: right; color: #000000; font-family: 'Segoe UI Symbol', sans-serif;">&#9744;</td>
                <td style="width: auto; vertical-align: top;">
                  <div>Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</div>
                </td>
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                <td style="width: 18pt; vertical-align: top; align: right; color: #000000; font-family: 'Segoe UI Symbol', sans-serif;">&#9744;</td>
                <td style="width: auto; vertical-align: top;">
                  <div>Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</div>
                </td>
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                <td style="width: 18pt; vertical-align: top; align: right; color: #000000; font-family: 'Segoe UI Symbol', sans-serif;">&#9744;</td>
                <td style="width: auto; vertical-align: top;">
                  <div>Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</div>
                </td>
              </tr>

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        </div>
      </div>
      <div><br>
      </div>
      <div>Securities registered pursuant to Section 12(b) of the Act:</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" border="0" id="z67166282fc8444a0a3ea9f29184c25bb" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

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              <div style="text-align: center;">Title of each class</div>
            </td>
            <td style="width: 34%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: center;">Trading Symbol</div>
            </td>
            <td style="width: 33%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: center;">Name of each exchange on which registered</div>
            </td>
          </tr>
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            <td style="width: 33%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: center;">Common Stock</div>
            </td>
            <td style="width: 34%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: center;">PAR</div>
            </td>
            <td style="width: 33%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: center;">New York Stock Exchange</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div>Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (<font style="color: #000000;">&#167;</font>230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934
        (<font style="color: #000000;">&#167;</font>240.12b-2 of this chapter).</div>
      <div><br>
      </div>
      <div>Emerging growth company &#9744;</div>
      <div><br>
      </div>
      <div>If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange
        Act. &#9744;</div>
      <div> <br>
      </div>
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                <td style="width: 54pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">Item 4.01.</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="color: #000000; font-weight: bold;">Changes in Registrant&#8217;s Certifying Accountant.</div>
                </td>
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      <div><br>
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                <div style="color: #000000;">(a)</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="color: #000000;">Dismissal of Former Independent Registered Public Accounting Firm.</div>
              </td>
            </tr>

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      </div>
      <div><br>
      </div>
      <div style="text-indent: 36pt;">On March 19, 2020, the Audit Committee of the Board of Directors of PAR Technology Corporation (the &#8220;Company&#8221;) approved the dismissal of BDO USA, LLP (&#8220;BDO&#8221;) as the Company&#8217;s independent registered public accounting
        firm. BDO has served as the Company&#8217;s independent registered public accounting firm since 2012.</div>
      <div><br>
      </div>
      <div style="text-indent: 36pt;">BDO&#8217;s audit report on the Company&#8217;s consolidated financial statements as of and for the fiscal years ended December 31, 2019 and December 31, 2018 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 that BDO&#8217;s audit report on the Company&#8217;s consolidated financial statements as of and for the fiscal year ended December 31, 2018 contained an explanatory
        paragraph stating that &#8220;As discussed in Note 1 to the consolidated financial statements, the Company has suffered recurring losses from operations, has defaulted on covenants related to its credit agreement, and has not generated sufficient cash
        flows from operations that raise substantial doubt about its ability to continue as a going concern. Management&#8217;s plans in regard to these matters are also described in Note 1. The consolidated financial statements do not include any adjustments
        that might result from the outcome of this uncertainty.&#8221;</div>
      <div><br>
      </div>
      <div style="text-indent: 36pt;">During the fiscal years ended December 31, 2019 and December 31, 2018, and in the subsequent interim period through March 19, 2020, there were no disagreements with BDO (within the meaning of Item 304(a)(1)(iv) of
        Regulation S-K of the rules and regulations (&#8220;Regulation S-K&#8221;) of the U.S. Securities and Exchange Commission (the &#8220;SEC&#8221;)) on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure that if
        not resolved to BDO&#8217;s satisfaction, would have caused BDO to make reference thereto in its reports.</div>
      <div><br>
      </div>
      <div style="text-indent: 36pt;">The Company provided BDO with a copy of the disclosures it is making herein in response to Item 304(a) of Regulation S-K, and requested that BDO furnish the Company with a copy of its letter addressed to the SEC,
        pursuant to Item 304(a)(3) of Regulation S-K, stating whether BDO agrees with the statements made by the Company in this Current Report on Form 8-K (&#8220;Report&#8221;). A copy of BDO&#8217;s letter to the SEC dated March 24, 2020 is attached as Exhibit 16.1 to
        this Report.</div>
      <div><br>
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                <div style="color: #000000;">(b)</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="color: #000000;">Appointment of New Independent Registered Public Accounting Firm</div>
              </td>
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      </div>
      <div><br>
      </div>
      <div style="text-indent: 36pt;">On March 19, 2020, the Audit Committee approved the appointment of Deloitte &amp; Touche LLP (&#8220;D&amp;T&#8221;) as the Company&#8217;s new independent registered public accounting firm for its fiscal year ending December 31, 2020
        and related interim periods. The Company entered into an engagement letter with D&amp;T dated March 23, 2020.</div>
      <div><br>
      </div>
      <div style="text-indent: 36pt;">During the Company&#8217;s two most recent fiscal years ended December 31, 2019 and December 31, 2018, and for the subsequent interim period through March 23, 2020, neither the Company nor anyone on its behalf consulted
        D&amp;T regarding any of the matters set forth in Item 304(a)(2)(i) or (ii) of Regulation S-K.</div>
      <div>&#160;</div>
      <div>
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                <td style="width: 54pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">Item 9.01</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="color: #000000; font-weight: bold;">Financial Statements and Exhibits.</div>
                </td>
              </tr>

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      </div>
      <div><br>
      </div>
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                <div style="text-align: left; text-indent: -18pt; margin-left: 18pt; color: #000000;">(d)</div>
              </td>
              <td style="align: left; vertical-align: top; width: auto;">
                <div style="text-align: left; text-indent: -18pt; margin-left: 18pt; color: #000000;">Exhibits</div>
              </td>
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              <div>Exhibit </div>
              <div>No.</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; font-weight: bold; padding-bottom: 2px;" rowspan="1">&#160;</td>
            <td style="width: 90%; vertical-align: bottom; font-weight: bold; border-bottom: 2px solid rgb(0, 0, 0);" rowspan="1">Description of Exhibit</td>
          </tr>
          <tr>
            <td style="width: 8.16%; vertical-align: bottom;" rowspan="1">&#160;</td>
            <td style="width: 2%; vertical-align: bottom;" rowspan="1">&#160;</td>
            <td style="width: 90%; vertical-align: bottom;" rowspan="1">&#160;</td>
          </tr>
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            <td style="width: 8.16%; vertical-align: bottom;">
              <div><a href="ex16_1.htm">16.1</a></div>
            </td>
            <td style="width: 2%; vertical-align: bottom;">&#160;</td>
            <td style="width: 90%; vertical-align: bottom;">
              <div>Letter of BDO USA, LLP, dated March 24, 2020.</div>
            </td>
          </tr>

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      <div style="text-align: center; font-weight: bold;">SIGNATURES</div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;">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.</div>
      <div><br>
      </div>
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            <td style="width: 49%; vertical-align: top;">&#160;</td>
            <td style="width: 2%; vertical-align: top;">&#160;</td>
            <td style="width: 49%; vertical-align: top;">
              <div>PAR TECHNOLOGY CORPORATION</div>
            </td>
          </tr>
          <tr>
            <td style="width: 49%; vertical-align: top;">&#160;</td>
            <td style="width: 2%; vertical-align: top;">&#160;</td>
            <td style="width: 49%; vertical-align: top;">
              <div>(Registrant)</div>
            </td>
          </tr>
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            <td style="width: 49%; vertical-align: top;">&#160;</td>
            <td style="width: 2%; vertical-align: top;">&#160;</td>
            <td style="width: 49%; vertical-align: top;">&#160;</td>
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            <td style="width: 49%; vertical-align: top; padding-bottom: 2px;">
              <div>Date: March 24, 2020</div>
            </td>
            <td style="width: 2%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
            <td style="width: 49%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>/s/ Bryan A. Menar</div>
            </td>
          </tr>
          <tr>
            <td style="width: 49%; vertical-align: top;">&#160;</td>
            <td style="width: 2%; vertical-align: top;">&#160;</td>
            <td style="width: 49%; vertical-align: top;">
              <div>By:&#160; Bryan A. Menar</div>
            </td>
          </tr>
          <tr>
            <td style="width: 49%; vertical-align: top;">&#160;</td>
            <td style="width: 2%; vertical-align: top;">&#160;</td>
            <td style="width: 49%; vertical-align: top;">
              <div>Title:&#160; Chief Financial and Accounting Officer (Principal Financial Officer)</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div><br>
      </div>
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<DOCUMENT>
<TYPE>EX-16.1
<SEQUENCE>2
<FILENAME>ex16_1.htm
<DESCRIPTION>EXHIBIT 16.1
<TEXT>
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    <!-- Licensed to: Broadridge Financial Solutions, Inc.
         Document created using EDGARfilings PROfile 6.5.1.0
         Copyright 1995 - 2020 Broadridge -->
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    <div style="text-align: right;"><font style="font-weight: bold;"> Exhibit 16.1</font><br>
    </div>
    <div>
      <div><br>
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      <table cellspacing="0" cellpadding="0" id="z4d773659baf84ddf9f0f9f29bbdc6e9f" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

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              <div><img width="102" height="38" src="image0.jpg"></div>
            </td>
            <td style="width: 33.33%; vertical-align: top;">
              <div>Tel:&#160; 212-371-4446</div>
              <div>Fax: 212-371-9374</div>
              <div>www.bdo.com</div>
            </td>
            <td style="width: 33.34%; vertical-align: top;">
              <div>622 Third Ave, Suite 3100</div>
              <div>New York, NY 10017 <br>
              </div>
            </td>
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      <div><br>
      </div>
      <div>March 24, 2020</div>
      <div>&#160;</div>
      <div style="margin-right: 275.65pt;">Securities and Exchange Commission</div>
      <div style="margin-right: 275.65pt;">100 F Street N.E.</div>
      <div>Washington, D.C. 20549</div>
      <div>&#160;</div>
      <div style="text-align: justify; margin-right: 5.75pt;">We have been furnished with a copy of the response to Item 4.01 of Form 8-K for the event that occurred on March 19, 2020, to be filed by our
        former client, PAR Technology Corporation. We agree with the statements made in response to that Item insofar as they relate to our Firm.</div>
      <div><br>
      </div>
      <div style="text-align: justify;">Very truly yours,</div>
      <div style="text-align: justify;"> <br>
      </div>
      <div><img width="191" height="33" src="image1.jpg"></div>
      <div><br>
      </div>
      <div style="color: rgb(0, 0, 0);"><br>
      </div>
      <div style="margin-right: 14.7pt; color: rgb(0, 0, 0); font-size: 8pt;">BDO USA, LLP, a Delaware limited liability partnership, is the U.S. member of BDO International Limited, a UK company
        limited by guarantee, and forms part of the international BDO network of independent member firms.</div>
      <div style="margin-right: 14.7pt; color: #685040; font-size: 8pt;"> <font style="color: rgb(0, 0, 0);"><br>
        </font></div>
      <div style="text-align: justify; color: rgb(0, 0, 0); font-size: 8pt;">BDO is the brand name for the BDO network and for each of the BDO Member Firms.</div>
    </div>
    <div>
      <div>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
