Item 8.01 Other Events.

On March 4, 2020, the U.S. Securities and Exchange Commission (the "Commission") issued an order under Section 36 (Release No. 34-88318) of the Securities Exchange Act of 1934 ("Exchange Act") granting exemptions from specified provisions of the Exchange Act and certain rules thereunder (the "Order"). The Order provides that a registrant (as defined in Exchange Act Rule 12b-2) subject to the reporting requirements of Exchange Act Section 13(a) or 15(d), and any person required to make any filings with respect to such a registrant, is exempt from any requirement to file or furnish materials with the Commission under Exchange Act Sections 13(a), 13(f), 13(g), 14(a), 14(c), 14(f), 15(d) and Regulations 13A, Regulation 13D-G (except for those provisions mandating the filing of Schedule 13D or amendments to Schedule 13D), 14A, 14C and 15D, and Exchange Act Rules 13f-1, and 14f-1, as applicable, where certain conditions are satisfied.

The Company is furnishing this Current Report on Form 8-K to indicate its reliance on the Order in connection with the Company's Annual Report on Form 10-K for the year ended December 31, 2019 as a result of the circumstances set forth below.

As a result of the travel and work restrictions and financial problems stemming from the COVID-19 pandemic, the Company is unable to meet with and obtain the personnel and other resources it needs to compile all information for the financial statements and related disclosures required to be incorporated into its Form 10-K for the period ended December 31,2019 and to file a timely and accurate Annual Report on Form 10-K for the year ended December 31, 2019 by the prescribed date without undue hardship and expense to the Company. In addition, the Company may be supplementing its Form 10-K disclosures with certain risk factors due to the pandemic which are highly uncertain and cannot be predicted at this point.

Accordingly, in reliance upon the Order, the Company intends to file its Annual Report on Form 10-K approximately 45 days after March 30, 2020.

© Edgar Online, source Glimpses