Traders should expect potential delays in financial reporting, possible restatements, and heightened risk of SEC scrutiny.
Price Chart
Executive Summary
PreAxia Health Care Payment Systems Inc. dismissed its auditor Saddler Gibb & Associates after a brief engagement due to unresolved valuation and materiality disagreements and missed filings. The company has engaged M&K CPAs as its new auditor and is in communication with the SEC Office of Chief Accountant to resolve accounting questions. This marks the third auditor change in under two years.
Key Facts
- Saddler Gibb & Associates was dismissed as auditor on February 19, 2026, after serving only from December 23, 2025
- Dismissal followed missed filing deadlines and unresolved disagreements on valuation and materiality in prior periods
- Company is in communication with the SEC Office of Chief Accountant to resolve accounting issues
- M&K CPAs was engaged on February 20, 2026, as the new independent auditor
- This is the third auditor change since October 2024: GreenGrowth CPAs (resigned Oct 2024), Fruci & Associates (terminated Dec 2025), now Saddler Gibb (dismissed Feb 2026)
Financial Impact
High risk of financial restatements, audit delays, or going concern issues due to repeated auditor changes and unresolved accounting disagreements
Risk Factors
- Potential restatement of prior financial statements
- Delays in filing future financial reports
- Increased likelihood of going concern disclosure or material weakness
- SEC investigation or enforcement action
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001079973-26-000257 |
| Document: 0001079973-26-000257-index-headers.html | 0001079973-26-000257 |
| Document: 0001079973-26-000257-index.html | 0001079973-26-000257 |
| Document: 0001079973-26-000257.txt | 0001079973-26-000257 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 11, 2026 6w ago | 10-Q/A | $0.2200 $0.2200 | · 0.00% | ▲ +2.12% | $0.2200 (+0.00%) |
Apr 21, 2026 26w ago | 8-K | $0.2200 $0.2200 | · 0.00% | ▲ +3.17% | $0.2200 (+0.00%) |
Mar 5, 2026 33w ago | 8-K/A | $0.2200 $0.2200 | · 0.00% | ▼ −2.04% | $0.2200 (+0.00%) |
Feb 25, 2026 34w ago | 8-K | $0.2200 $0.2200 | · 0.00% | ▼ −6.40% | $0.2200 (+0.00%) |
US Market Status
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