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<TITLE>Filed by Bowne Pure Compliance</TITLE>
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<P style="font-size: 14pt" align="center"><B>UNITED STATES<BR>
SECURITIES AND
EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P style="font-size: 18pt" align="center"><B>FORM 8-K</B>

<P style="font-size: 12pt" align="center"><B>CURRENT REPORT<BR>
Pursuant to
Section 13 or 15(d) of the Securities Exchange Act of 1934</B>

<P style="font-size: 10pt" align="center"><B>Date of Report (Date of earliest
event reported): October 24, 2008</B>

<P style="font-size: 24pt" align="center"><B>IFTH ACQUISITION
CORP.<BR>
</B><FONT style="font-size: 10pt">(Exact name of registrant as
specified in its charter) </FONT>
<TABLE style="font-size: 10pt; text-align: center" cellspacing="0"
cellpadding="0" width="100%" border="0">

 <TR>
  <TD width="32%">&nbsp;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD width="33%">&nbsp;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD width="32%">&nbsp;</TD>
 </TR>
 <TR valign="bottom">
  <TD style="border-bottom: #000000 1px solid"><B>DELAWARE</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>000-22693</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>11-2889809</B></TD>
 </TR>
 <TR valign="top">
  <TD>(State or other Jurisdiction of Incorporation)</TD>
  <TD>&nbsp;</TD>
  <TD>(Commission File Number)</TD>
  <TD>&nbsp;</TD>
  <TD>(IRS Employer Identification No.)</TD>
 </TR>

</TABLE>
<TABLE style="font-size: 10pt; text-align: center" cellspacing="0"
cellpadding="0" width="100%" border="0">

 <TR>
  <TD width="49%">&nbsp;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD width="49%">&nbsp;</TD>
 </TR>
 <TR valign="bottom">
  <TD style="border-bottom: #000000 1px solid"><B>1690 SOUTH CONGRESS AVENUE,
SUITE 200<BR>
DELRAY BEACH, FLORIDA<BR>
</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>33445</B></TD>
 </TR>
 <TR valign="top">
  <TD>(Address of Principal Executive Offices)</TD>
  <TD>&nbsp;</TD>
  <TD>(Zip Code)</TD>
 </TR>

</TABLE>


<P style="font-size: 10pt" align="center">Registrant&#8217;s telephone number,
including area code: <B>561-805-8000</B>
<TABLE style="font-size: 10pt; text-align: center" cellspacing="0"
cellpadding="0" width="30%" border="0">

 <TR>
  <TD width="100%">&nbsp;</TD>
 </TR>
 <TR>
  <TD style="border-bottom: #000000 1px solid" nowrap><B>&nbsp;</B></TD>
 </TR>
 <TR>
  <TD nowrap>(Former name or former address if changed since last report.)</TD>
 </TR>

</TABLE>


<P style="font-size: 10pt" align="left">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:

<P style="font-size: 10pt" align="left"><FONT face="Wingdings">o</FONT> Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)<BR>
<BR>
<FONT face="Wingdings">o</FONT> Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR>
<BR>
<FONT
face="Wingdings">o</FONT> Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR>
<BR>
<FONT
face="Wingdings">o</FONT> Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>


<DIV style="margin-top: 10pt; font-size: 1pt; width: 100%; border-bottom: black 1pt solid">&nbsp;</DIV>
<DIV style="font-size: 1pt; width: 100%; border-bottom: black 2pt solid">&nbsp;</DIV>
</DIV>

<P style="font-size: 10pt" align="center">&nbsp;

<P style="display: none; font-size: 10pt" align="center">1
</DIV>

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<DIV
style="margin-left: 0.25in; width: 7.2in; font-family: 'Times New Roman',Times,serif">

<P style="font-size: 10pt; margin-right: 2%" align="left"><B>Item&nbsp;4.01
Changes in Registrant&#8217;s Certifying Accountant.</B>

<P style="font-size: 10pt; margin-right: 2%" align="left">On October&nbsp;24,
2008, the board of directors and the audit committee of IFTH Acquisition Corp.
(the &#8220;Company&#8221;) approved the dismissal of J.H. Cohn LLP
(&#8220;Cohn&#8221;), the Company&#8217;s independent registered public
accounting firm, effective as of October&nbsp;27, 2008.

<P style="font-size: 10pt; margin-right: 2%" align="left">The audit reports of
Cohn on the Company&#8217;s consolidated financial statements as of and for the
years ended September&nbsp;30, 2006 and 2007 did not contain an adverse opinion
or a disclaimer of opinion, and were not qualified or modified as to
uncertainty, audit scope or accounting principles, except for the reference to
the change in accounting principles required by Statement of Financial
Accounting Standards No.&nbsp;123(R) in Cohn&#8217;s report dated
December&nbsp;21, 2007.

<P style="font-size: 10pt; margin-right: 2%" align="left">During the years
ended September&nbsp;30, 2006 and 2007, and the subsequent interim period
through October&nbsp;27, 2008, there were (i)&nbsp;no disagreements with Cohn
on any matter of accounting principles or practices, financial statement
disclosure, or auditing scope or procedure, that if not resolved to the
satisfaction of Cohn, would have caused it to make reference to the subject
matter of such disagreements in connection with its reports and (ii)&nbsp;no
reportable events (as defined in Item&nbsp;304(a)(1)(v) of Regulation&nbsp;S-K).

<P style="font-size: 10pt; margin-right: 2%" align="left">The Company has
provided Cohn with a copy of this report and requested that Cohn furnish it
with a letter addressed to the Securities and Exchange Commission stating
whether it agrees with the statements related to Cohn made by the Company
herein and, if not, stating the respects in which it does not agree. The letter
from Cohn to the Securities and Exchange Commission, dated as of
October&nbsp;27, 2008, is attached as Exhibit&nbsp;16.1 to this report.

<P style="font-size: 10pt; margin-right: 2%" align="left">On October&nbsp;24,
2008, the board of directors and the audit committee of the Company approved
the engagement of Eisner LLP (&#8220;Eisner&#8221;) to serve as the
Company&#8217;s independent registered public accounting firm, effective as of
October&nbsp;28, 2008. During the years ended September&nbsp;30, 2006 and 2007
and through October&nbsp;28, 2008, the Company did not consult with Eisner
regarding either:

<P>
<TABLE style="font-size: 10pt" cellspacing="0" cellpadding="0" width="100%"
border="0">

 <TR
style="font-size: 10pt; background: none transparent scroll repeat 0% 0%; color: #000000"
valign="top">
  <TD style="background: none transparent scroll repeat 0% 0%"
width="2%">&nbsp;</TD>
  <TD nowrap align="left" width="3%">&#8226;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD>the application of accounting principles to any specific completed or
proposed transaction, or the type of audit opinion that might be rendered on
the Company&#8217;s financial statements, nor did Eisner provide written or
oral advice to the Company that Eisner concluded was an important factor
considered by the Company in reaching a decision as to the accounting, auditing
or financial reporting issue; or</TD>
  <TD style="background: none transparent scroll repeat 0% 0%"
width="2%">&nbsp;</TD>
 </TR>

</TABLE>


<P>
<TABLE style="font-size: 10pt" cellspacing="0" cellpadding="0" width="100%"
border="0">

 <TR
style="font-size: 10pt; background: none transparent scroll repeat 0% 0%; color: #000000"
valign="top">
  <TD style="background: none transparent scroll repeat 0% 0%"
width="2%">&nbsp;</TD>
  <TD nowrap align="left" width="3%">&#8226;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD>any matter that was either the subject of a disagreement (as defined in
Item&nbsp;304(a)(1)(iv) and the related instructions of Regulation&nbsp;S-K) or
a reportable event (as defined in Item&nbsp;304(a)(1)(v) of
Regulation&nbsp;S-K).</TD>
  <TD style="background: none transparent scroll repeat 0% 0%"
width="2%">&nbsp;</TD>
 </TR>

</TABLE>


<P style="font-size: 10pt; margin-right: 2%" align="left">Eisner is the
independent registered public accounting firm of Digital Angel Corporation,
which was the Company&#8217;s 49.9% stockholder through August&nbsp;1, 2008.

<P style="font-size: 10pt; margin-right: 2%" align="left"><B>Item&nbsp;5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment
of Certain Officers; Compensatory Arrangements of Certain Officers.</B>

<P style="font-size: 10pt; margin-right: 2%" align="left">Effective
October&nbsp;24, 2008, the board of directors of the Company appointed William
J. Caragol as acting chief executive officer and acting chief financial
officer. Mr.&nbsp;Caragol replaced the acting chief financial officer, Michael
J. Feder, in such capacity. The compensation committee of the Company approved
an issuance to Mr.&nbsp;Caragol of 500,000 shares of common stock of the
Company and 500,000 shares of
restricted stock of the Company from the Company&#8217;s 2001 Flexible Stock
Plan, which vest upon Mr. Caragol&#8217;s appointment as an officer or director
of the Company.



<P style="font-size: 10pt" align="center">&nbsp;

<P style="font-size: 10pt" align="center">2
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<P style="font-size: 10pt; margin-right: 2%" align="left">On August&nbsp;1,
2008, Digital Angel Corporation, a Delaware corporation, entered into a Stock
Purchase Agreement for the sale of 2,570,000 shares of common stock of the
Company, which constituted 49.9% of the Company&#8217;s issued and outstanding
common stock as of August&nbsp;1, 2008, to Blue Moon Energy Partners LLC, a
Florida limited liability company (&#8220;Blue Moon&#8221;). Blue Moon paid, in
consideration for the shares, an aggregate of $400,000, which amount was
provided as capital contributions by the members of Blue Moon, one of whom is
Mr.&nbsp;Caragol.

<P style="font-size: 10pt" align="left">Mr.&nbsp;Caragol, age 41, has served as
the president of VeriChip Corporation since May&nbsp;2007, its chief financial
officer and vice president since August&nbsp;2006, its treasurer since
December&nbsp;2006 and its secretary since March&nbsp;2007. From July&nbsp;2005
to August&nbsp;2006, he served as the chief financial officer of Government
Telecommunications, Inc. From December&nbsp;2003 to June&nbsp;2005,
Mr.&nbsp;Caragol was the vice president of business development and chief
financial officer of Millivision Technologies, a technology company focused on
security applications. From August&nbsp;2001 to December&nbsp;2003,
Mr.&nbsp;Caragol was a consulting partner with East Wind Partners LLP, a
technology and telecommunications consulting company, in Washington, D.C.

<P style="font-size: 10pt; margin-right: 2%" align="left"><B>Item&nbsp;9.01
Financial Statements and Exhibits.</B>

<P style="font-size: 10pt; text-indent: 3%" align="left">(d)&nbsp;Exhibits
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" cellpadding="0" width="100%"
border="0">
<!-- Begin Table Head -->

 <TR valign="bottom">
  <TD width="10%">&nbsp;</TD>
  <TD width="5%">&nbsp;</TD>
  <TD width="85%">&nbsp;</TD>
 </TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
 <TR valign="bottom">
  <TD valign="top">
<DIV style="margin-left: 0px; text-indent: 0px">&nbsp;</DIV>
</TD>
  <TD>&nbsp;</TD>
  <TD valign="top" align="left">&nbsp;</TD>
 </TR>
 <TR valign="bottom">
  <TD valign="top" style="border-bottom: 1px solid #000000">
<DIV style="margin-left: 0px; text-indent: 0px">Exhibit&nbsp;No. </DIV>
</TD>
  <TD>&nbsp;</TD>
  <TD valign="top" align="left" style="border-bottom: 1px solid #000000">Description</TD>
 </TR>
 <TR valign="bottom">
  <TD valign="top">
<DIV style="margin-left: 0px; text-indent: 0px">&nbsp;</DIV>
</TD>
  <TD>&nbsp;</TD>
  <TD valign="top" align="left">&nbsp;</TD>
 </TR>
 <TR valign="bottom">
  <TD valign="top">
<DIV style="margin-left: 0px; text-indent: 0px">16.1 </DIV>
</TD>
  <TD>&nbsp;</TD>
  <TD valign="top" align="left">Letter from J.H. Cohn LLP to the Securities and
Exchange Commission, dated October&nbsp;27, 2008</TD>
 </TR>
<!-- End Table Body -->

</TABLE>
</DIV>

<P style="font-size: 10pt" align="center">&nbsp;

<P style="font-size: 10pt" align="center">3
</DIV>

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<DIV
style="margin-left: 0.25in; width: 7.2in; font-family: 'Times New Roman',Times,serif">

<P style="font-size: 10pt" align="center"><U><B>SIGNATURES</B></U>

<P style="font-size: 10pt; text-indent: 3%" align="left">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.


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" cellpadding="0" width="100%" border="0">

<!-- Begin Table Head -->

 <TR valign="bottom">
  <TD width="55%">&nbsp;</TD>
  <TD width="5%">&nbsp;</TD>
  <TD width="40%">&nbsp;</TD>
 </TR>
<!-- End Table Head -->

<!-- Begin Table Body -->
 <TR valign="bottom">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align="left"><B>IFTH Acquisition Corp.</B></TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR>
  <TD align="left">Date: October&nbsp;29, 2008</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
</TR>


 <TR valign="bottom">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align="left" style="border-bottom: 1px solid #000000">/s/ William J. Caragol</TD>
</TR>

 <TR valign="bottom">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align="left">William J. Caragol<BR>
Acting Chief Executive Officer and<br>Chief Financial Officer</TD>
</TR>

<!-- End Table Body -->

</TABLE>
</DIV>


<P style="font-size: 10pt" align="center">&nbsp;

<P style="font-size: 10pt" align="center">4
</DIV>

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<DIV style="margin-left: 0.25in; width: 7.2in; font-family: 'Times New Roman',Times,serif">

<P style="font-size: 10pt" align="center"><U><B>EXHIBIT&nbsp;INDEX</B></U>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" cellpadding="0" width="100%"
border="0">
<!-- Begin Table Head -->

 <TR valign="bottom">
  <TD width="10%">&nbsp;</TD>
  <TD width="5%">&nbsp;</TD>
  <TD width="85%">&nbsp;</TD>
 </TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
 <TR valign="bottom">
  <TD valign="top">
<DIV style="margin-left: 0px; text-indent: 0px">&nbsp;</DIV>
</TD>
  <TD>&nbsp;</TD>
  <TD valign="top" align="left">&nbsp;</TD>
 </TR>
 <TR valign="bottom">
  <TD valign="top" style="border-bottom: 1px solid #000000"><B>Exhibit&nbsp;Number</B></TD>
  <TD>&nbsp;</TD>
  <TD valign="top" align="left" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
 </TR>
 <TR valign="bottom">
  <TD valign="top">
<DIV style="margin-left: 0px; text-indent: 0px">&nbsp;</DIV>
</TD>
  <TD>&nbsp;</TD>
  <TD valign="top" align="left">&nbsp;</TD>
 </TR>
 <TR valign="bottom">
  <TD valign="top">
<DIV style="margin-left: 0px; text-indent: 0px">16.1 </DIV>
</TD>
  <TD>&nbsp;</TD>
  <TD valign="top" align="left">Letter from J.H. Cohn LLP to the Securities and
Exchange Commission, dated October&nbsp;27, 2008</TD>
 </TR>
<!-- End Table Body -->

</TABLE>
</DIV>

<P style="font-size: 10pt" align="center">&nbsp;

<P style="font-size: 10pt" align="center">5
</DIV>
</BODY>
</HTML>
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{"company-data": {"conformed-name": "IFTH ACQUISITION CORP", "cik": "0001037417", "assigned-sic": "7373", "irs-number": "112889809", "state-of-incorporation": "DE", "fiscal-year-end": "0930"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-22693", "film-number": "081146751"}, "business-address": {"street1": "7 KINGSBRIDGE ROAD", "city": "FAIRFIELD", "state": "NJ", "zip": "07004", "phone": "9732278722"}, "mail-address": {"street1": "7 KINGSBRIDGE ROAD", "city": "FAIRFIELD", "state": "NJ", "zip": "07004"}, "former-company": [{"former-conformed-name": "INFOTECH USA INC", "date-changed": "20030410"}, {"former-conformed-name": "SYSCOMM INTERNATIONAL CORP", "date-changed": "19970408"}]}
Filed by Bowne Pure Compliance
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): October 24, 2008
IFTH ACQUISITION
CORP.
(Exact name of registrant as
specified in its charter)
DELAWARE
000-22693
11-2889809
(State or other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
1690 SOUTH CONGRESS AVENUE,
SUITE 200
DELRAY BEACH, FLORIDA
33445
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number,
including area code:
561-805-8000
(Former name or former address if changed since last report.)
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:
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 Registrant's Certifying Accountant.
On October 24,
2008, the board of directors and the audit committee of IFTH Acquisition Corp.
(the "Company") approved the dismissal of J.H. Cohn LLP
("Cohn"), the Company's independent registered public
accounting firm, effective as of October 27, 2008.
The audit reports of
Cohn on the Company's consolidated financial statements as of and for the
years ended September 30, 2006 and 2007 did not contain an adverse opinion
or a disclaimer of opinion, and were not qualified or modified as to
uncertainty, audit scope or accounting principles, except for the reference to
the change in accounting principles required by Statement of Financial
Accounting Standards No. 123(R) in Cohn's report dated
December 21, 2007.
During the years
ended September 30, 2006 and 2007, and the subsequent interim period
through October 27, 2008, there were (i) no disagreements with Cohn
on any matter of accounting principles or practices, financial statement
disclosure, or auditing scope or procedure, that if not resolved to the
satisfaction of Cohn, would have caused it to make reference to the subject
matter of such disagreements in connection with its reports and (ii) no
reportable events (as defined in Item 304(a)(1)(v) of Regulation S-K).
The Company has
provided Cohn with a copy of this report and requested that Cohn furnish it
with a letter addressed to the Securities and Exchange Commission stating
whether it agrees with the statements related to Cohn made by the Company
herein and, if not, stating the respects in which it does not agree. The letter
from Cohn to the Securities and Exchange Commission, dated as of
October 27, 2008, is attached as Exhibit 16.1 to this report.
On October 24,
2008, the board of directors and the audit committee of the Company approved
the engagement of Eisner LLP ("Eisner") to serve as the
Company's independent registered public accounting firm, effective as of
October 28, 2008. During the years ended September 30, 2006 and 2007
and through October 28, 2008, the Company did not consult with Eisner
regarding either:
•
the application of accounting principles to any specific completed or
proposed transaction, or the type of audit opinion that might be rendered on
the Company's financial statements, nor did Eisner provide written or
oral advice to the Company that Eisner concluded was an important factor
considered by the Company in reaching a decision as to the accounting, auditing
or financial reporting issue; or
•
any matter that was either the subject of a disagreement (as defined in
Item 304(a)(1)(iv) and the related instructions of Regulation S-K) or
a reportable event (as defined in Item 304(a)(1)(v) of
Regulation S-K).
Eisner is the
independent registered public accounting firm of Digital Angel Corporation,
which was the Company's 49.9% stockholder through August 1, 2008.
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment
of Certain Officers; Compensatory Arrangements of Certain Officers.
Effective
October 24, 2008, the board of directors of the Company appointed William
J. Caragol as acting chief executive officer and acting chief financial
officer. Mr. Caragol replaced the acting chief financial officer, Michael
J. Feder, in such capacity. The compensation committee of the Company approved
an issuance to Mr. Caragol of 500,000 shares of common stock of the
Company and 500,000 shares of
restricted stock of the Company from the Company's 2001 Flexible Stock
Plan, which vest upon Mr. Caragol's appointment as an officer or director
of the Company.
2
On August 1,
2008, Digital Angel Corporation, a Delaware corporation, entered into a Stock
Purchase Agreement for the sale of 2,570,000 shares of common stock of the
Company, which constituted 49.9% of the Company's issued and outstanding
common stock as of August 1, 2008, to Blue Moon Energy Partners LLC, a
Florida limited liability company ("Blue Moon"). Blue Moon paid, in
consideration for the shares, an aggregate of $400,000, which amount was
provided as capital contributions by the members of Blue Moon, one of whom is
Mr. Caragol.
Mr. Caragol, age 41, has served as
the president of VeriChip Corporation since May 2007, its chief financial
officer and vice president since August 2006, its treasurer since
December 2006 and its secretary since March 2007. From July 2005
to August 2006, he served as the chief financial officer of Government
Telecommunications, Inc. From December 2003 to June 2005,
Mr. Caragol was the vice president of business development and chief
financial officer of Millivision Technologies, a technology company focused on
security applications. From August 2001 to December 2003,
Mr. Caragol was a consulting partner with East Wind Partners LLP, a
technology and telecommunications consulting company, in Washington, D.C.
Item 9.01
Financial Statements and Exhibits.
(d) Exhibits
Exhibit No.
Description
16.1
Letter from J.H. Cohn LLP to the Securities and
Exchange Commission, dated October 27, 2008
3
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 hereunto duly
authorized.
IFTH Acquisition Corp.
Date: October 29, 2008
/s/ William J. Caragol
William J. Caragol
Acting Chief Executive Officer and
Chief Financial Officer
4
EXHIBIT INDEX
Exhibit Number
Description
16.1
Letter from J.H. Cohn LLP to the Securities and
Exchange Commission, dated October 27, 2008
5