secwatch.observer — SEC 8-K summary
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Issuer:     XWELL, Inc. (XWEL)
CIK:        0001410428
Form:       8-K
Filed at:   2025-04-21T23:59:59+00:00
Accession:  0001104659-25-036830
Event type: regulatory
Sentiment:  negative
Materiality: 0.60
Item codes: 4.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

XWELL dismisses Marcum, engages CBIZ CPAs; cites material weaknesses
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1410428/000110465925036830/0001104659-25-036830-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1410428/000110465925036830/tm2512718d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-036830

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer