PREAXIA HEALTH CARE PAYMENT SYSTEMS INC.: auditor change — PreAxia dismisses auditor Sadler Gibb, engages M&K CPAs; cites missed deadline and valuation issues

PREAXIA HEALTH CARE PAYMENT SYSTEMS INC.

Sadler Gibb & Associates dismissed as auditor effective Feb 19, 2026 after serving since Dec 23, 2025.
Dismissal follows missed filing deadline and unresolved discussions with Sadler Gibb on valuation and materiality.
M&K CPAs engaged as new independent auditor on Feb 20, 2026 to audit financials for May 31, 2026 year-end.
Company is in communication with SEC Office of Chief Accountant to resolve questions to be addressed by new auditor.
Prior auditors Fruci & Associates (to Dec 9, 2025) and GreenGrowth CPAs (to Oct 25, 2024) had no disagreements.

item 4.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Auditor Changes SEC 8-K Item 4.01/4.02 confidence 0.99

PREAXIA HEALTH CARE PAYMENT SYSTEMS INC. engaged M&K CPAs as its auditor.

Action: engagement
Auditor: M&K CPAs

Exact text from the filing

On February 20, 2026, the Registrant engaged the firm of M&K CPAs (M&K") to serve as its independent registered public accounting firm to audit its consolidated financial statements as of May 31, 2026.

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Auditor Changes SEC 8-K Item 4.01/4.02 confidence 0.99

PREAXIA HEALTH CARE PAYMENT SYSTEMS INC. dismissed Sadler Gibb & Associates as its auditor.

Action: dismissal
Auditor: Sadler Gibb & Associates

Exact text from the filing

On February 19, 2026, PreAxia Health Care Payment Systems Inc. notified Sadler Gibb & Associates (SadlerGibb) of its dismissal, effective as of the same day, as the Registrant's independent registered public accounting firm.

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Source: SEC EDGAR

accession 0001079973-26-000276

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