Item 8.01 Other Events.
On
Following the COVID-19 diagnosis for one of the Company's employees, the Company
closed its corporate offices and requested all employees to work remotely until
further notice. Employees affected by such closure included certain of the
Company's key personnel of its German-based wholly-owned subsidiary,
Accordingly, in reliance upon the Order, the Company expects to file its
Quarterly Report on Form 10-Q for the first quarter of 2020 no later than 45
days after
The Company has added to the Company's Annual Report on Form 10-K for the year
ended
Our business may suffer from the severity or longevity of the Coronavirus/COVID-19 Global Outbreak. The Coronavirus ("Covid-19") is currently impacting countries, communities, supply chains and markets, as well as the global financial markets. To date, Covid-19 has not had a material impact on the Company, other than as set forth above. However, the Company cannot predict whether Covid-19 will have a material impact on our financial condition and results of operations due to understaffing, disruptions in government spending, among other factors. In addition, at this time we cannot predict the impact of Covid-19 on our ability to obtain financing necessary for the Company to fund its working capita1 requirements. In most respects, it is too early in the Covid-19 pandemic to be able to quantify or qualify the longer-term ramifications on our business and/or our potential investors.
Cautionary Note Regarding Forward-Looking Statements.
This Current Report on Form 8-K contains statements as to the Company's beliefs
and expectations of the outcome of future events that are forward-looking
statements as defined in the Private Securities Litigation Reform Act of 1995.
You can identify these statements by the fact that they do not relate strictly
to historical or current facts. Examples of these statements include, but are
not limited to, statements regarding the anticipated impact of the COVID-19
outbreak on travel and physical locations, the anticipated impact of such
outbreak on our results of operations, and possible effect of the postponement
and cancellation of trade shows and events on our overall revenues. These
forward-looking statements are subject to risks and uncertainties that could
cause actual results to differ materially from the statements made. These risks
and uncertainties include, but are not limited to, the effects of the COVID-19
outbreak, including on our business activities (including our evaluation of the
Company options and if the Company will be able to continue as a going concern
if no additional funding is secured in the near term) and levels of business and
economic confidence generally. The duration of the COVID-19 outbreak and
severity of such outbreak, the pace of recovery following the COVID-19 outbreak,
the effect on our ability to implement cost containment and business
restructuring strategies; and the adverse effects of the COVID-19 outbreak on
our business and the risk factor described in our Annual Report on Form 10-K for
the year ended
2
© Edgar Online, source