Item 8.01 Other Events.
The current outbreak of Covid-19 has posed a significant impact on the Company's
ability to file on a timely basis its Quarterly Report on Form 10-Q for the
quarter ended
The preparation of the Company's Quarterly Report, including financial
statements and completion of the review process, has been delayed by
Government-imposed quarantines, office closings and travel restrictions, which
affect both the Company's and its service provider's personnel. Specifically,
the Company operates in
We expect the current outbreak of Covid-19 to have a material and adverse effect on the Company's business operations. Our ability to travel or to distribute our products have been disrupted or restricted and our facilities shut down. We expect such disruptions or delays to impact our sales and operating results. In addition, Covid-19 has resulted in a widespread health crisis that we believe will adversely affect the economies and financial markets of many other countries, resulting in an economic downturn that may affect demand for our products and significantly impact our operating results.
Certain of the statements contained in this report should be considered
forward-looking statements within the meaning of the Securities Act of 1933, as
amended, the Securities Exchange Act of 1934, as amended, and the Private
Securities Litigation Reform Act of 1995. These forward-looking statements are
often identified by the use of forward-looking terminology such as "will,"
"believes," "expects," "endeavor" or similar expressions, involving known and
unknown risks and uncertainties. Although the Company believes that the
expectations reflected in these forward-looking statements are reasonable, they
do involve assumptions, risks and uncertainties, and these expectations may
prove to be incorrect. You should not place undue reliance on these
forward-looking statements, which speak only as of the date of this report. The
Company's actual results could differ materially from those anticipated in these
forward-looking statements as a result of a variety of factors, including the
risk factors discussed in the Company's periodic reports that are filed with the
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