Excel Corporation (OTCMKTS:EXCC) Files An 8-K Changes in Registrant’s Certifying Accountant

Excel Corporation (OTCMKTS:EXCC) Files An 8-K Changes in Registrant’s Certifying Accountant
Item 4.01 Change in Registrant’s Certifying Accountant.

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Previous independent registered public accounting firm

On August 2, 2018, Excel Corporation, a Texas corporation (the “Company”), received notice of resignation by Whitley Penn stating as Excel’s independent registered public accounting firm. The reports of Whitley Penn, on the Company’s financial statements for each of the past two fiscal years contained no adverse opinion or a disclaimer of opinion and were not modified.

During our two most recent fiscal years and through the date of this report, we have had no disagreements with Whitley Penn, on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of Whitley Penn, would have caused it to make reference to the subject matter of such disagreements in its report on our financial statements for such periods.

During our two most recent fiscal years and through the date of this report on Form 8-K, there have been no reportable events as defined under Item 304(a)(1)(v) of Regulation S-K adopted by the Securities and Exchange Commission (the “SEC”).

We provided Whitley Penn, with a copy of this disclosure before the filing was made with the SEC. We requested that Whitley Penn, provide us with a letter addressed to the SEC stating whether or not it agrees with the above statements, and we received a letter from Whitley Penn, stating that it agrees with the above statements. A copy of such letter, dated as of August 2, 2018 is filed as Exhibit 16.1 to this report.

New independent registered public accounting firm.

On August 2, 2018, the Company’s Board of Directors appointed Liggett & Webb, P.A. as our new independent registered public accounting firm, effective August 2, 2018. During the two most recent fiscal years and through the date of our engagement, we did not consult with Liggett Webb regarding either (1) the application of accounting principles to a specified transaction, either completed or proposed, or the type of audit opinion that might be rendered on our financial statements, or (2) any matter that was either the subject of a disagreement or a reportable event (as defined in Item 304(a)(1)(v) of Regulation S-K). In approving the selection of Liggett & Webb, P.A. as the Company’s new independent registered public accounting firm, the Board of Directors considered all relevant factors.

Item 9.01 Financial Statements and Exhibits

Exhibit No. Description
16.1 Consent Letter, dated August 14, 2018


Excel Corp Exhibit
EX-16.1 2 f8k080218ex16-1_excelcorp.htm CONSENT LETTER Exhibit 16.1     Dallas Office 8343 Douglas Avenue Suite 400 Dallas,…
To view the full exhibit click here

About Excel Corporation (OTCMKTS:EXCC)

Excel Corporation sells integrated financial and transaction processing services to small and medium sized businesses throughout the United States. The Company provides these services through its subsidiary, eVance Processing Inc. (eVance). Through its eVance subsidiary, the Company provides an integrated suite of third-party merchant payment processing services and related proprietary software enabling products that deliver credit and debit card-based Internet payments processing solutions to small and mid-sized merchants operating in physical brick and mortar business environments, on the Internet and in retail settings requiring both wired and wireless mobile payment solutions. It also operates as a wholesale Independent Sales Organization (ISO), generating individual merchant processing contracts in exchange for future residual payments.

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