EduFocal’s Auditor Baker Tilly Exits; Trading Still on “Suspension”

• Educational technology firm EduFocal Limited announced a significant change to its external audit team. The company confirmed that Baker Tilly Strachan Lafayette, which had served as external auditors since 2021, has voluntarily withdrawn its services effective Tuesday, September 23, 2025.
• To ensure continuous financial oversight, EduFocal's Board of Directors filled the vacancy, appointing Garcia Campbell & Associates as the Company’s new auditors. This was executed under the authority of Article 189 of the company's recently adopted Articles of Incorporation, which allows the Board to fill a casual vacancy until the next Annual General Meeting.
• EduFocal's shares were suspended from trading on the Jamaica Stock Exchange (JSE) on June 2, 2025, for the continued failure to file its 2024 Audited Financial Statements, which remain outstanding as of October, having been originally due on March 1, 2025
• The first half of the year saw significant corporate shifts, including the resignation of the long-standing Chairman and the abolition of the Chief Financial Officer (CFO) role as part of a move toward a "leaner and more agile" organisational structure.
• With Audited Financials still outstanding, the company’s shares have remained suspended since June 02, 2025, where it closed at $0.22 per share.

(Sources: JSE and NCBCM Research)