PyX Wallets Engages FM Financial for Audits
The OTC-traded GBHL and PYX are undergoing audits ahead of a planned Form S-1 registration filing.
Updated on Nov. 12, 2026 in Corporate Finance
PyX Wallets Inc. has engaged FM Financial Services LLC, a PCAOB-registered firm, to audit its financial statements and those of GBHL, the OTC-traded company it acquired control of. The audits cover fiscal years ended December 31, 2024 and 2025, and GBHL's interim results for the first three quarters of 2026 are under review.
Why it matters
Completed audits are a prerequisite for the company's planned Form S-1 filing with the SEC, which would move it closer to a public offering. The change of control remains subject to transfer agent processing and a final Nevada court order discharging the custodianship.
The audits cover two fiscal years ended December 31, 2024 and 2025, plus interim financial information for the first three quarters of 2026. Audit reports and the final outcome of the review have not yet been issued.
The players
PyX Wallets Inc.
PyX Wallets Inc., formerly Global Entertainment Holdings, Inc., is developing hardware and titanium smart wallet products while pursuing an SEC registration and a future exchange listing.
FM Financial Services LLC
FM Financial Services LLC is a PCAOB-registered audit firm engaged to audit the financial statements of GBHL and PYX.
The details
PyX Wallets Inc., formerly Global Entertainment Holdings, Inc., trades OTC under the symbol GBHL and is developing the PyX Core titanium smart wallet and the PyX Vault hardware crypto wallet. The company has begun preparing a registration statement on Form S-1, and FM Financial Services expects to issue separate audit reports for GBHL and PYX.
Timeline
December 31, 2024: Fiscal year end for the first audited GBHL year.
December 31, 2025: Fiscal year end for the second audited GBHL year.
November 4, 2026: GBHL shared a CEO video interview update.
November 12, 2026: Audit engagement with FM Financial Services was announced.
Market Dynamics
The planned Form S-1 filing places PyX on the path that the Securities Act of 1933 requires for public offerings, with audited statements as a prerequisite. Moving from OTC trading toward a national exchange listing remains a longer-term goal subject to separate listing requirements.
Shareholders of GBHL should watch for the completed audit reports and the S-1 filing, which together will show audited financial results for the first time under the new control. The change of control is not final until transfer agent processing and the Nevada court's discharge order are complete.
The takeaway
Investors tracking OTC-listed companies should treat completed audits and an effective S-1 as the key checkpoints before relying on the company's reported financials. Until the audit reports are issued, the figures for GBHL and PYX remain unverified.
What happens next
The company plans to file its Form S-1 with the SEC upon completion of the audits, and FM Financial Services expects to issue separate audit reports for GBHL and PYX.
Further reading
For more on how companies move from OTC trading toward public offerings, explore Corporate Finance coverage.
More information
Visit the PyX Wallets company website for updates on the audits and filings.
Source note: This article includes information reported by The Manila times.
