Welcome to our dedicated page for Preaxia Health Care Pmt Sys In SEC filings (Ticker: PAXH), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
The SEC filings page for PreAxia Health Care Payment Systems Inc. (PAXH) on Stock Titan provides access to the company’s regulatory reports as filed with the U.S. Securities and Exchange Commission under file number 000-52365. These documents include quarterly reporting notifications on Form 12b-25 and current reports on Form 8-K covering matters related to accountants and financial statements.
Through its Form 12b-25 notifications of late filing, PreAxia Health Care Payment Systems Inc. explains why specific Form 10-Q reports could not be filed within the prescribed time period. The company states that it has been compiling information required for its auditors to complete their review of the financial statements. In one notification, it also discloses that it has hired contractors to design personal financial management software applications, sold stock, and converted debt, which affected assets, debt, and expenses compared with a prior year period.
Form 8-K filings on this page document changes in the company’s independent registered public accounting firms. One report describes the dismissal of Fruci & Associates II, PLLC and notes that the firm’s audit report did not contain an adverse opinion, disclaimer of opinion, or qualification, and that there were no disagreements during its engagement. The filing also references prior auditor GreenGrowth CPA’s and includes auditor correspondence as exhibits. A later Form 8-K reports the engagement of Sadler Gibb and Associates as the new independent registered public accounting firm to audit consolidated financial statements as of a specified fiscal year-end.
On Stock Titan, these filings are updated as they appear on EDGAR, and AI-powered tools summarize the key points, helping readers understand the reasons for late filings, the nature of auditor changes, and the operational and capital activities that PreAxia Health Care Payment Systems Inc. discloses in its SEC reports.
PreAxia Health Care Payment Systems Inc. filed an amended report describing changes in its independent auditors. On February 19, 2026, the company dismissed Sadler Gibb & Associates, which had been engaged since December 23, 2025 but had not issued any audit reports.
The company notes a missed filing deadline and unresolved discussions with SadlerGibb about valuation and materiality in prior periods and is in communication with the SEC’s Office of Chief Accountant on questions to be addressed by a new firm. On February 20, 2026, PreAxia engaged M&K CPAs to audit its consolidated financial statements as of May 31, 2026.
PreAxia states that prior auditors Fruci & Associates II, PLLC for the year ended May 31, 2025 and GreenGrowth CPAs for the year ended May 31, 2024 issued reports without adverse opinions, disclaimers, or qualifications and had no disagreements during their respective engagements.
PreAxia Health Care Payment Systems Inc. reported a change in its independent auditors and ongoing accounting discussions. On February 19, 2026, the company dismissed Saddler Gibb & Associates as its independent registered public accounting firm after a brief engagement that began on December 23, 2025 and produced no audit reports. During this period, PreAxia missed a filing deadline and, in discussions with SaddlerGibb, the parties were unable to reach definitive conclusions on valuation and materiality in prior periods.
The company is now in communication with the US Securities and Exchange Commission’s Office of Chief Accountant to resolve these questions with its next auditor. On February 20, 2026, PreAxia engaged M&K CPAs to audit its consolidated financial statements as of May 31, 2026. The filing also notes that prior audit reports from Fruci & Associates II, PLLC for the year ended May 31, 2025 and GreenGrowth CPAs for the year ended May 31, 2024 contained no adverse opinions, disclaimers, or qualifications, and that there were no reported disagreements with those firms during their respective tenures.
PreAxia Health Care Payment Systems Inc. filed a notice that its quarterly report on Form 10-Q for the period ended November 30, 2025 will be filed late. The company states it cannot complete the filing without unreasonable effort and expense because it is still compiling information needed for its auditors to complete their review of the financial statements.
PreAxia indicates it expects a significant change in results of operations compared with the same period last year. During this fiscal year it has hired significant new contractors to design personal financial management software applications, sold stock, and converted debt. According to the company, these activities have increased assets, reduced debt, and significantly increased expenses versus the prior-year period.
Preaxia Health Care Payment Systems Inc. filed a current report stating that it has engaged Sadler Gibb and Associates as its independent registered public accounting firm. Sadler Gibb will audit Preaxia's consolidated financial statements as of May 31, 2026.
The company notes that during the past two fiscal years and up to the engagement date, it did not consult Sadler Gibb on the application of accounting principles to specific transactions, on any reportable events under SEC rules, or on the type of audit opinion that might be issued. The filing focuses solely on this auditor engagement and includes a technical exhibit for the cover page interactive data file.
PreAxia Health Care Payment Systems Inc. reported that on December 9, 2025 it dismissed Fruci & Associates II, PLLC as its independent registered public accounting firm, effective the same day. Fruci had audited the company’s financial statements from October 29, 2024 through December 9, 2025, and its report for the year ended May 31, 2025 contained no adverse opinion, disclaimer of opinion, or qualification.
The company also noted that there were no disagreements with Fruci during the most recent fiscal year or subsequent interim period. Similarly, prior auditor GreenGrowth CPA’s, whose report on the year ended May 31, 2024 was also unqualified, had no reported disagreements with the company during its tenure from August 2, 2023 through its resignation on October 25, 2024. PreAxia requested and filed letters from both firms agreeing with these disclosures as exhibits.
PreAxia Health Care Payment Systems (PAXH) filed a 10‑Q/A to correct its cover-page share count and a subsequent event. The amendment updates outstanding common shares to 54,314,782 as of October 15, 2025, and notes that 34,547,084 shares were issued to settle prior-quarter stock subscriptions.
For the quarter ended August 31, 2025, PreAxia reported $0 revenue and a net loss of $875,134. Operating expenses were driven by research and development $391,263, management $387,500, and consulting $65,000. Cash was $130,285 with a working capital deficit of $232,678. Management disclosed substantial doubt about the company’s ability to continue as a going concern.
Equity activity included $3,651,222 in stock subscriptions at quarter-end and a $200,000 private placement for 800,000 shares in August, with shares issued in October. Internal controls were deemed not effective as of the quarter end.
PreAxia Health Care Payment Systems Inc. filed its 10‑Q reporting no revenue and a net loss of $875,134 for the three months ended August 31, 2025. Operating expenses were $875,203, driven by research and development $391,263, management and labor $387,500, consulting $65,000, and professional fees $23,200. Basic and diluted loss per share was $(0.04) on a weighted average of 19,767,698 shares.
As of August 31, 2025, cash was $130,285 and working capital deficit was $232,678. Shareholders’ equity was $427,322 with an accumulated deficit of $6,085,524. The company recognized stock subscriptions for services and debt, including $1,800,000 for consulting and management (40% expensed at grant) and $1,643,397 to convert debt. Two related‑party notes were converted on June 30, 2025 at $0.10 per share for 4,668,170 and 10,587,600 shares, and a private placement brought in $200,000 for 800,000 shares in August 2025.
Management disclosed “substantial doubt” about the company’s ability to continue as a going concern and reported disclosure controls and procedures were not effective as of August 31, 2025.
PreAxia Health Care Payment Systems Inc. (PAXH) filed a Notification of Late Filing (Form 12b-25) for its Form 10-Q for the period ended August 31, 2025. The company says it is still compiling information needed for its auditors to complete their review. Under Rule 12b-25(b), the 10-Q is expected to be filed on or before the fifth calendar day after the due date. The company indicates all other required periodic reports over the past 12 months have been filed and it does not anticipate a significant change in results of operations.
PREAXIA Health Care Payment Systems, Inc. (PAXH) amended its annual report with consolidated financials showing a stockholders' deficit of $2,341,169 and an accumulated deficit of $5,210,390 as of May 31, 2025. The company used cash in operating activities of $41,516 for the year and reports factors that raise substantial doubt about its ability to continue as a going concern within one year. Management reclassified $126,967 of previously withheld loan conversions to additional paid-in capital and reports convertible debt and notes payable to related parties convertible at $0.10 per share. The filing discloses material weaknesses in internal control, including insufficient technical accounting staff and failure to file corporate tax returns for 2008 through 2025.
Preaxia Health Care Payment Systems, Inc. filed an annual report that is unaudited and discloses material operational and financial weaknesses. The company markets products including a High-Interest Super Account claiming an average 10% APY, a Smart Debit Card, and a financial orchestration system called MoneyNet, and it reports Canadian HSA operations through Benecaid, Olympia Benefits, and QuickCard.
Financially, the filing shows 43,024,000 shares outstanding with 10,800,000 treasury shares; related-party obligations include a $466,817 promissory note, a $1,058,760 convertible note (convertible into 10,587,600 shares at $0.10 per share), officer compensation payable of $400,000, accounts payable-related party of $102,716, and loans payable–shareholders of $201,331. The company also states it failed to file corporate tax returns for 2008 through 2025 and lacks accounting staff with sufficient technical US GAAP and tax expertise. The report notes it will file an amendment once an audit is completed.