Item 8.01 Other Events.
Cool Technologies, Inc. (the "Company") will be relying on the Securities and
Exchange Commission's Order under Section 36 of the Securities Exchange Act of
1934 Granting Exemptions From Specified Provisions of the Exchange Act and
Certain Rules Thereunder dated March 25, 2020 (Release No. 34-88465) (the
"Order") to delay the filing of its Quarterly Report on Form 10-Q for the
quarter ended March 31, 2020 (the "Report") due to the circumstances related to
COVID-19. In particular, COVID-19 and the extraordinary measures undertaken to
minimize its spread has caused severe disruptions in transportation, limited
access to facilities resulting in limited support from its staff and
professional advisors and interfered with the timely exchange of information.
Consequently, the delay in completing the Company's Annual Report has, in turn,
delayed the Company's ability to complete its review and prepare the Quarterly
Report. Notwithstanding the foregoing, the Company expects to file the Report no
later than June 29, 2020 (which is 45 days from the Report's original filing
deadline of May 15, 2020).
The Company will be including the following disclosure with regard to the effect
of the coronavirus in the Management's Discussion and Analysis of Financial
Condition Section into its Report:
The occurrence of an uncontrollable event such as the COVID-19 pandemic is
likely to negatively affect our operations. A pandemic typically results in
social distancing, travel bans and quarantine, and this has limited access to
our facilities, customers, management, support staff and professional advisors.
These, in turn, will not only impact our operations, financial condition and
demand for our products but our overall ability to react timely to mitigate the
impact of this event. Also, it may substantially hamper our efforts to provide
our investors with timely information and comply with our filing obligations
with the Securities and Exchange Commission.
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