Item 8.01 Other Events
The Corporation is unable to meet the filing deadline for the filing of its Form
10-Q for the quarter ended March 31, 2020 due to circumstances related to
COVID-19. Most of the Company's business is in China and so is its corporate
office. Some of its businesses and offices were closed upon orders of the local
governments. Employees are prohibited from going into work. In view of these
circumstances, we are unable to provide our auditors and accountants with up to
date financial records.
On March 4, 2020, the U.S. Securities and Exchange Commission (the "SEC") issued
an order under Section 36 (Release No. 34-88318) of the Securities Exchange Act
of 1934, as amended ("Exchange Act"), granting exemptions from specified
provisions of the Exchange Act and certain rules thereunder. On March 25, 2020,
the order was modified and superseded by a new SEC order (Release No. 34-88465),
which provides conditional relief to public companies that are unable to timely
comply with their filing obligations as a result of the novel coronavirus
("COVID-19") outbreak (the "SEC Order"). The SEC Order provides that a
registrant 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
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, if certain
conditions are satisfied.
The Corporation is relying on SEC Releases No. 34-88318 and No. 34-88465 to
delay the filing of its Form 10-Q for the quarter ended March 31, 2020 for an
extension on the filing due date to 45 days after the original due date which is
May 15, 2020, and will work diligently to comply with such requirements.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
Information included in this Form 8-K may contain forward-looking statements
within the meaning of Section 27A of the Securities Act and Section 21E of the
Securities Exchange Act of 1934, as amended (the "Exchange Act"). This
information may involve known and unknown risks, uncertainties and other factors
which may cause actual results, performance or achievements of Yew Bio-Pharm
Group, Inc. (herein referred to as the "Company" or "Registrant"), to be
materially different from future results, performance or achievements expressed
or implied by any forward-looking statements. Forward-looking statements, which
involve assumptions and describe the Company's future plans, strategies and
expectations, are generally identifiable by use of the words "may," "will,"
"should," "expect," "anticipate," "estimate," "believe," "intend" or "project"
or the negative of these words or other variations on these words or comparable
terminology. Forward-looking statements are based on assumptions that may be
incorrect, and there can be no assurance that any projections or other
expectations included in any forward-looking statements will come to pass. The
Company's actual results could differ materially from those expressed or implied
by the forward-looking statements as a result of various factors. Except as
required by applicable laws, the Company undertakes no obligation to update
publicly any forward-looking statements for any reason, even if new information
becomes available or other events occur in the future.
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