Item 4.01. Changes in Registrant's Certifying Accountant.
(a) Dismissal of Independent Registered Public Accounting Firm.
On November 26, 2021, Vitaxel Group Limited (the "Company") dismissed Dale
Matheson Carr-Hilton LaBonte LLP ("DMCL") as the Company's independent
registered public accounting firm, effective immediately.
The audit reports of DMCL on the consolidated financial statements of the
Company for the most recent fiscal year ended December 31, 2020 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 except for a "going
concern" contingency.
During the Company's most recent fiscal year ended December 31, 2020 and during
the subsequent interim period from January 1, 2021 through November 26, 2021,
(i) there were no disagreements with DMCL on any matter of accounting principles
or practices, financial statement disclosure or auditing scope or procedures
that, if not resolved to DMCL's satisfaction, would have caused DMCL 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 DMCL with a copy of the disclosures in this report prior to
filing with the Securities and Exchange Commission (the "SEC"). A copy of DMCL's
letter to the SEC stating whether it agrees with the statements made in this
report is filed as Exhibit 16.1 to this report.
(b) Engagement of New Independent Registered Public Accounting Firm.
On November 26, 2021, the Board of Directors of the Company engaged Pan-China
Singapore PAC ("PAC") as the Company's independent registered public accounting
firm for the year ending December 31, 2021.
During the most recent fiscal year ended December 31, 2020 and during the
subsequent interim period from January 1, 2021 through November 26, 2021,
neither the Company nor anyone on its behalf consulted PAC 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 PAC 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
a "disagreement" or a "reportable event" , each as defined in Regulation S-K
Item 304(a)(1)(iv) and Item 304(a)(1)(v), respectively.
Item 9.01 Financial Statements and Exhibits.
Exhibit 16.1 Letter from DMCL to Securities and Exchange Commission, dated
November 26, 2021
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