XWELL dismisses Marcum, engages CBIZ CPAs; cites material weaknesses

XWELL, Inc.

Dismissed Marcum LLP and engaged CBIZ CPAs as auditor for FY2025, effective April 21, 2025.
Marcum's reports for FY2024 and FY2023 were unqualified except for going-concern qualification in FY2024.
Disclosed material weaknesses in internal controls: lease accounting, entity-level monitoring, IT vendor controls, revenue process, foreign subsidiaries.
No disagreements or reportable events (other than material weaknesses) between Company and Marcum.

item 4.01 item 9.01

Machine-readable event card

schema_version: secwatch.filing_event.v1
accession: 0001104659-25-036830
form_type: 8-K
ticker: XWEL
cik: 0001410428
company_name: XWELL, Inc.
filed_at: 2025-04-21T23:59:59+00:00
discovered_at: 2026-05-14T18:02:48.201728+00:00
generated_at: 2026-05-23T10:05:20.996354+00:00
sec_items: ["4.01", "9.01"]
event_type: regulatory
sentiment: negative
materiality_score: 0.6
confidence: high
secwatch_canonical_url: https://secwatch.observer/filing/0001104659-25-036830
json_url: https://secwatch.observer/filing/0001104659-25-036830.json
markdown_url: https://secwatch.observer/filing/0001104659-25-036830.md
text_url: https://secwatch.observer/filing/0001104659-25-036830.txt
edgar_index_url: https://www.sec.gov/Archives/edgar/data/1410428/000110465925036830/0001104659-25-036830-index.htm
edgar_primary_document_url: https://www.sec.gov/Archives/edgar/data/1410428/000110465925036830/tm2512718d1_8k.htm
generated_by_model: deepseek-v4-flash:cloud@v2
review_status: machine_generated
human_reviewed: false
corrected: false
correction_note: null
correction_timestamp: null
superseded_by: null

JSON Markdown Plain text

Source: SEC EDGAR

accession 0001104659-25-036830

view filing index on sec.gov

view primary document

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.