---
schema_version: "secwatch.filing_event.v1"
accession: "0001079973-26-000276"
form_type: "8-K/A"
ticker: null
cik: "0001350156"
company_name: "PREAXIA HEALTH CARE PAYMENT SYSTEMS INC."
filed_at: "2026-03-05T23:59:59+00:00"
generated_at: "2026-05-15T19:27:28.377641+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# PreAxia dismisses auditor Sadler Gibb, engages M&K CPAs; cites missed deadline and valuation issues

## Summary
- 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.

## SEC filing metadata
- accession: 0001079973-26-000276
- form_type: 8-K/A
- cik: 0001350156
- company_name: PREAXIA HEALTH CARE PAYMENT SYSTEMS INC.
- filed_at: 2026-03-05T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 4.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1350156/000107997326000276/0001079973-26-000276-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1350156/000107997326000276/paxh_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001079973-26-000276
- JSON: https://secwatch.observer/filing/0001079973-26-000276.json
- Plain text: https://secwatch.observer/filing/0001079973-26-000276.txt

## Source-grounded claims
- claim_id: 0585a995acc6faa73fe9b50e15795ad0db1499c3
  claim: PREAXIA HEALTH CARE PAYMENT SYSTEMS INC. engaged M&K CPAs as its auditor.
  evidence_excerpt: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1350156/000107997326000276/0001079973-26-000276-index.htm
- claim_id: 1e79404fa5ab7adcd866fcda6f4b0eabf4c2468d
  claim: PREAXIA HEALTH CARE PAYMENT SYSTEMS INC. dismissed Sadler Gibb & Associates as its auditor.
  evidence_excerpt: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1350156/000107997326000276/0001079973-26-000276-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.