PREAXIA HEALTH CARE PAYMENT SYSTEMS INC.: auditor change — PreAxia restates Aug 31, 2025 financials; stock award errors, material weakness

PREAXIA HEALTH CARE PAYMENT SYSTEMS INC.

Management identified material errors in stock award valuation, timing, and option disclosures for the three months ended Aug 31, 2025.
Previously issued financial statements for that period should no longer be relied upon; restatement to be filed via amended Form 10-Q.
Material weakness in internal control over financial reporting continues to exist; disclosure controls and procedures ineffective.
Discussed with auditors Fruci & Associates (former) and M&K CPAs (current), which will oversee the review.

item 4.02 item 9.01

Key facts

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Auditor Changes SEC 8-K Item 4.01/4.02 confidence 0.9

PREAXIA HEALTH CARE PAYMENT SYSTEMS INC. reported that prior financial statements should not be relied upon.

Action: non reliance

Exact text from the filing

On April 9, 2026, the management of PreAxia Health care Payment Systems Inc., a Nevada corporation (the “Company”), identified material errors in the previously released financial statements for the three months ended August 31, 2025 (the “Non-Reliance Period”) and concluded that such financial statements should no longer be relied upon.

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Source: SEC EDGAR

accession 0001079973-26-000518

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