ALEXANDER TECH CORP Replaces Auditor, Appoints PG Accountants

What Happened

• ALEXANDER TECH CORP announced on February 27, 2026 that its Board dismissed FRUCI & ASSOCIATES II, PLLC as the company's independent registered public accounting firm and immediately appointed PG Accountants LLC ("PG") to perform the audit for the fiscal year ending April 30, 2026. FRUCI’s prior reports for the two fiscal years ended April 30, 2025 and through February 27, 2026 included an explanatory paragraph about the company’s potential inability to continue as a going concern.

Key Details

• Dismissal and appointment effective: February 27, 2026.
• Former auditor (FRUCI) issued reports for the two fiscal years ended April 30, 2025 and through Feb 27, 2026 with a going-concern explanatory paragraph; those reports were otherwise not qualified or disclaimed.
• The company disclosed material weaknesses in internal control over financial reporting (ICFR): lack of segregation of duties, lack of multi-level review, and over-reliance on external reporting consultants—these are reportable events.
• PG Accountants LLC was not consulted by the company during the past two fiscal years (through Feb 27, 2026) on accounting or auditing matters and reported no disagreements or reportable events.

Why It Matters

• A change of independent auditor is material because it affects who examines and signs off on the company’s financial statements. The prior auditor’s going-concern paragraph and the disclosed ICFR weaknesses highlight financial reporting risk and potential uncertainty about the company’s short-term viability. Investors should note the new auditor (PG) will conduct the audit for the fiscal year ending April 30, 2026, which may result in further disclosure or audit findings once that work is completed.