VITAXEL GROUP LIMITED (OTCMKTS:VXEL) Files An 8-K Changes in Registrant’s Certifying Accountant
item 4.01.
ITEM 4.01Change in Registrant’s
Certifying Accountant.
(a)Dismissal of Independent Registered Public Accounting
Firm.
On May 8, 2017, Vitaxel Group Limited (the Company) dismissed
Centurion ZD CPA Limited (Centurion) as the Company’s
independent registered public accounting firm, effective
immediately.
The audit reports of Centurion on the consolidated financial
statements of the Company for each of the two most recent fiscal
years ended December 31, 2016 and December 31, 2015 did not
contain an adverse opinion or a disclaimer of opinion and were
not qualified or modified as to uncertainty, audit scope or
accounting principles.
During the Company’s two most recent fiscal years ended December
31, 2016 and December 31, 2015 and during the subsequent interim
period from January 1, 2017 through May 7, 2017, (i) there were
no disagreements with Centurion on any matter of accounting
principles or practices, financial statement disclosure or
auditing scope or procedures that, if not resolved to
Centurion’s satisfaction, would have caused Centurion to make
reference to the subject matter of the disagreement in connection
with its reports and (ii) there were no reportable events as
defined in Item 304(a)(1)(v) of Regulation S-K.
The Company provided Centurion with a copy of the disclosures in
this report prior to filing with the Securities and Exchange
Commission (the SEC). A copy of Centurion ‘s letter to the SEC
stating whether it agrees with the statements made in this report
will be filed as Exhibit 16.1 to this report, by amendment.
(b)Engagement of New Independent Registered Public Accounting
Firm.
On May 8, 2017, the Board of Directors of the Company engaged BF
Borgers CPA PC (BFB) as the Company’s independent registered
public accounting firm for the year ending December 31, 2017.
During the two most recent fiscal years ended December 31, 2016
and December 31, 2015 and during the subsequent interim period
from January 1, 2017 through May 7, 2017, neither the Company nor
anyone on its behalf consulted BFB regarding either (i) the
application of accounting principles to a specified transaction,
either completed or proposed, or the type of audit opinion that
might be rendered on the Company’s financial statements, and
neither a written report nor oral advice was provided to the
Company that BFB concluded was an important factor considered by
the Company in reaching a decision as to any accounting, auditing
or financial reporting issue, or (ii) any matter that was either
the subject of adisagreementor areportable event, each as defined
in Regulation S-K Item 304(a)(1)(iv) and Item 304(a)(1)(v),
respectively.
ITEM 9.01Financial Statements and
Exhibits.
Exhibit 16.1:Letter from Centurion ZD CPA Limited dated May 29,
2017to the Securities and Exchange Commission*.
_______________
*Filed Herewith.
About VITAXEL GROUP LIMITED (OTCMKTS:VXEL)
Vitaxel Group Limited, formerly Albero, Corp., is engaged in direct selling industry and online shopping platform primarily through its operating entities in Malaysia. It is a global direct selling, multi-level marketing (MLM) company offering travel, entertainment, lifestyle and other products and services principally through electronic commerce. Through Vitaxel Online Mall SBN BHD (Vionmall), the Company employs online shopping Websites for retail sales direct to consumers. Its Vitaxel SDN BHD (Vitaxel) packages include product points (which are exchangeable for tour and travel products or travel kits). The Company provides its members with training, which includes prospecting and closing skills, plan orientation, back-office training, network management, personal and leadership development and team-building activities. As of September 30, 2016, the Company had approximately 5,827 members, with approximately 4,131 members in Malaysia and approximately 1,141 members in Singapore. VITAXEL GROUP LIMITED (OTCMKTS:VXEL) Recent Trading Information
VITAXEL GROUP LIMITED (OTCMKTS:VXEL) closed its last trading session 00.00000 at 0.00970 with 19,800 shares trading hands.
