Item 8.01 Other Events
eMARINE Global 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 4, 2020 (Release No. 34-88318) (the
"Order") to delay the filing of its Annual Report on Form 10-K for the year
ended December 31, 2019 (the "Report") due to the circumstances related to
COVID-19. In particular, COVID-19 has caused severe disruptions in
transportation and limited access to the Company's facilities resulting in
limited support from its staff and professional advisors. This has, in turn,
delayed the Company's ability to complete its audit and prepare the Report.
Notwithstanding the foregoing, the Company expects to file the Report no later
than May 14, 2020 (which is 45 days from the Report's original filing deadline
of March 30, 2020).
In light of the current COVID-19 pandemic, the Company will be including the
following Risk Factor into its Report:
An occurrence of an uncontrollable event such as the COVID-19 pandemic is likely
to negatively affect our operations.
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 and services but our overall ability to react timely to
mitigate the impact of this event. Also, it will 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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