Item 4.01 Change in Registrant’s
Certifying Accountant
Paritz & Company,
P.A. (“Paritz”), the independent registered public accounting firm to EFT Holdings Inc. (the “Company”),
announced effective October 16, 2018, that Paritz was acquired by Prager Metis CPAs LLC (“Prager”), and that all of
the employees and partners of Paritz were joining Prager.
As a result, effective
October 16, 2018, Paritz resigned as the Company’s independent registered public accounting firm. The Company’s Board
of Directors engaged Prager to serve as the Company’s independent registered public accounting firm effective October 16,
2018.
The reports of Paritz
on the financial statements of the Company as of and for the fiscal years ended March 31, 2017 and 2016, contained no adverse opinion
or disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope, or accounting principles, except that
the audit reports on the financial statements of the Company for the year ended March 31, 2017 and 2016, contained a modification
expressing substantial doubt regarding the Company’s ability to continue as a going concern.
During the Company’s
fiscal years ended March 31, 2017 and 2016, and the subsequent interim period from April 1, 2017 to the date of this report, and
in connection with the audit of the Company’s financial statements for such periods, there were no disagreements between
the Company and Paritz 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 Paritz, would have caused Paritz to make reference to the
subject matter of such disagreements in connection with its audit reports on the Company’s financial statements.
During the Company’s
fiscal years ended March 31, 2017 and 2016, and the subsequent interim period from April 1, 2017 to the date of this report, there
were no reportable events within the meaning of Item 304(a)(1)(v) of Regulation S-K.
During the Company’s
fiscal years ended March 31, 2017 and 2016, and the subsequent interim period from April 1, 2017, to the date of this report, the
Company did not consult with Prager regarding any of the matters set forth in Items 304(a)(2)(i) and (ii) of Regulation S-K.
The Company has provided
Paritz with a copy of the disclosures in this report and has requested that Paritz furnish it with a letter addressed to the Securities
and Exchange Commission stating whether or not Paritz agrees with the statements in this Item 4.01. A copy of this letter is filed
as Exhibit 16.1 to this report.
Item 9.01 Exhibits
Exhibit 16.1 – Letter from Paritz & Company, P.A. regarding the change in certifying accountant.