content: 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) April 13, 2000
                                                   --------------
  
  
                         Transnational Financial Corporation
  -------------------------------------------------------------------------------
          (Exact name of small business issuer as specified in its charter)
  
  
  California                         1-14219                      94-2964195
  -------------------------------------------------------------------------------
  (State or other jurisdiction    (Commission File            (I.R.S.Employer
  of incorporation)                   Number)                 Identification No.)
  
  401 Taraval Street, San Francisco, CA                           94116
  -------------------------------------------------------------------------------
  (Address of principal executive offices)                      (Zip Code)
  
  
  
  (Registrant's telephone number, including area code: (415) 334-7000
  
  
  
  
  
                (Former name, former address and former fiscal year,
                           if changed since last report)
  
  
  
  
  <PAGE>
  
  
  Item 4. Changes in Registrant's Certifying Accountant.
  
           On April 13, 2000, Deloitte & Touche LLP (the "Accountant") informed
  Transnational Financial Network, Inc. (the "Company") that the Accountant was
  resigning as the Company's independent auditors. The Company has asked that it
  submit a letter to the Securities & Exchange Commission to the effect that it
  has no material disagreements with the statements made in this Item 4,
  confirming that the Accountant had no disagreements with management of the
  Company related to matters that are material to the Company's 1999 financial
  statements.
  
           Management represents as follows:
  
                    (a) There have been no disputes between management and the
           auditors and the auditors' reports contained no adverse opinion or
           disclaimer of opinion, and was not qualified or modified as to
           uncertainty, audit scope, or accounting principles.
  
                    (b) The Company's Board of Directors has not, as of the date
           hereof, reviewed the resignation of the Accountant.
  
                    (c) During the registrant's two most recent fiscal years and
           any subsequent interim period there were no disagreements with the
           Accountant on any matter of accounting principles or practices,
           financial statement disclosure, or auditing scope or procedure. The
           registrant has authorized the Accountant to respond fully to the
           inquiries of the successor accountant, which as of the date hereof has
           not been appointed.
  
                    (d) The Accountant expressed no disagreement or difference of
           opinion regarding any "reportable" event as that term is defined in
           Item 304(a)(1)(iv) of Regulation S-K, including but not limited to:
  
                             (i) the Accountant has not advised the registrant
                    that the internal controls necessary for the registrant to
                    develop reliable financial statements do not exist;
  
                             (ii) the Accountant has not advised the registrant
                    that information has come to the Accountant's attention that
                    has led it to no longer be able to rely on management's
                    representations, or that has made it unwilling to be
                    associated with the financial statements prepared by
                    management;
  
                             (iii) the Accountant has not advised the registrant
                    of the need to expand significantly the scope of its audit, or
                    notified the registrant that information has come to the
                    Accountant's attention that if further investigated may (A)
                    materially impact the fairness or reliability of either: a
                    previously issued audit report or the underlying financial
                    statements, or the financial statements issued or to be issued
                    covering the fiscal period(s) subsequent to the date of the
                    most recent financial statements covered by an audit report
                    (including information that may prevent it from rendering an
                    unqualified audit report on those financial statements), or
                    (B) cause it to be unwilling to rely on management's
                    representations or be associated with the registrant's
                    financial statements, and due to the Accountant's resignation
                    (due to audit scope limitations or otherwise) or dismissal, or
                    for any other reason, the Accountant did not so expand the
                    scope of its audit or conduct such further investigation;
  
                             (iv) the Accountant has not advised the registrant
                    that information has come to the Accountant's attention that
                    it has concluded materially impacts the fairness or
                    reliability of either (A) a previously issued audit report or
                    the underlying financial statements, or (B) the financial
                    statements issued or to be issued covering the fiscal
                    period(s) subsequent to the date of the most recent financial
                    statements covered by an audit report (including information
                    that, unless resolved to the Accountant's satisfaction, would
                    prevent it from rendering an unqualified audit report on those
                    financial statements), and due to the Accountant's
                    resignation, or for any other reason, the issue has not been
                    resolved to the Accountant's satisfaction prior to its
                    resignation.
  
  <PAGE>
  
  
                    (e) The registrant has provided the Accountant with a copy of
           the disclosures it is making in response to Item 304(a) of Regulation
           S-K. The registrant has requested that the Accountant furnish the
           registrant with a letter addressed to the Commission stating whether it
           agrees with the statements made by the registrant. The Company has
           appended such letter hereto as Exhibit 16.
  
      Item 7.  Financial Statements and Exhibits.
  
      Exhibit 16. Letter re change in certifying accountant.
  
  
  
  <PAGE>
  
  
  
                                     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, thereby
  duly authorized.
  
      Date: April 19, 2000
                                              Transnational Financial Corporation
  
                                              /s/ Joseph Kristul
  
                                              Joseph Kristul, President
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text: 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) April 13, 2000
                                                   --------------
  
                         Transnational Financial Corporation
  -------------------------------------------------------------------------------
          (Exact name of small business issuer as specified in its charter)
  
  California                         1-14219                      94-2964195
  -------------------------------------------------------------------------------
  (State or other jurisdiction    (Commission File            (I.R.S.Employer
  of incorporation)                   Number)                 Identification No.)
  
  401 Taraval Street, San Francisco, CA                           94116
  -------------------------------------------------------------------------------
  (Address of principal executive offices)                      (Zip Code)
  
  (Registrant's telephone number, including area code: (415) 334-7000
  
                (Former name, former address and former fiscal year,
                           if changed since last report)
  Item 4. Changes in Registrant's Certifying Accountant.
  
           On April 13, 2000, Deloitte & Touche LLP (the "Accountant") informed
  Transnational Financial Network, Inc. (the "Company") that the Accountant was
  resigning as the Company's independent auditors. The Company has asked that it
  submit a letter to the Securities & Exchange Commission to the effect that it
  has no material disagreements with the statements made in this Item 4,
  confirming that the Accountant had no disagreements with management of the
  Company related to matters that are material to the Company's 1999 financial
  statements.
  
           Management represents as follows:
  
                    (a) There have been no disputes between management and the
           auditors and the auditors' reports contained no adverse opinion or
           disclaimer of opinion, and was not qualified or modified as to
           uncertainty, audit scope, or accounting principles.
  
                    (b) The Company's Board of Directors has not, as of the date
           hereof, reviewed the resignation of the Accountant.
  
                    (c) During the registrant's two most recent fiscal years and
           any subsequent interim period there were no disagreements with the
           Accountant on any matter of accounting principles or practices,
           financial statement disclosure, or auditing scope or procedure. The
           registrant has authorized the Accountant to respond fully to the
           inquiries of the successor accountant, which as of the date hereof has
           not been appointed.
  
                    (d) The Accountant expressed no disagreement or difference of
           opinion regarding any "reportable" event as that term is defined in
           Item 304(a)(1)(iv) of Regulation S-K, including but not limited to:
  
                             (i) the Accountant has not advised the registrant
                    that the internal controls necessary for the registrant to
                    develop reliable financial statements do not exist;
  
                             (ii) the Accountant has not advised the registrant
                    that information has come to the Accountant's attention that
                    has led it to no longer be able to rely on management's
                    representations, or that has made it unwilling to be
                    associated with the financial statements prepared by
                    management;
  
                             (iii) the Accountant has not advised the registrant
                    of the need to expand significantly the scope of its audit, or
                    notified the registrant that information has come to the
                    Accountant's attention that if further investigated may (A)
                    materially impact the fairness or reliability of either: a
                    previously issued audit report or the underlying financial
                    statements, or the financial statements issued or to be issued
                    covering the fiscal period(s) subsequent to the date of the
                    most recent financial statements covered by an audit report
                    (including information that may prevent it from rendering an
                    unqualified audit report on those financial statements), or
                    (B) cause it to be unwilling to rely on management's
                    representations or be associated with the registrant's
                    financial statements, and due to the Accountant's resignation
                    (due to audit scope limitations or otherwise) or dismissal, or
                    for any other reason, the Accountant did not so expand the
                    scope of its audit or conduct such further investigation;
  
                             (iv) the Accountant has not advised the registrant
                    that information has come to the Accountant's attention that
                    it has concluded materially impacts the fairness or
                    reliability of either (A) a previously issued audit report or
                    the underlying financial statements, or (B) the financial
                    statements issued or to be issued covering the fiscal
                    period(s) subsequent to the date of the most recent financial
                    statements covered by an audit report (including information
                    that, unless resolved to the Accountant's satisfaction, would
                    prevent it from rendering an unqualified audit report on those
                    financial statements), and due to the Accountant's
                    resignation, or for any other reason, the issue has not been
                    resolved to the Accountant's satisfaction prior to its
                    resignation.
  (e) The registrant has provided the Accountant with a copy of
           the disclosures it is making in response to Item 304(a) of Regulation
           S-K. The registrant has requested that the Accountant furnish the
           registrant with a letter addressed to the Commission stating whether it
           agrees with the statements made by the registrant. The Company has
           appended such letter hereto as Exhibit 16.
  
      Item 7.  Financial Statements and Exhibits.
  
      Exhibit 16. Letter re change in certifying accountant.
  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, thereby
  duly authorized.
  
      Date: April 19, 2000
                                              Transnational Financial Corporation
  
                                              /s/ Joseph Kristul
  
                                              Joseph Kristul, President