Item 8.01 Other Events
Due to the outbreak of coronavirus disease 2019 (COVID-19), Adveco Group, Inc.
(the "Company") is filing this current report on Form 8-K to avail itself of an
extension to file its Annual Report on Form 10-K for the period ended December
31, 2019 (the "Annual Report"), originally due on March 30, 2020, relying on an
order issued by the Securities and Exchange Commission (the "SEC") on March 4,
2020 pursuant to Section 36 of the Securities Exchange Act of 1934, as amended
(Release No. 34-88318) regarding exemptions granted to certain public companies.
In December 2019, a novel strain of coronavirus was reported to have surfaced in
Wuhan, China, which has and is continuing to spread throughout China and other
parts of the world, including the United States. On January 30, 2020, the World
Health Organization declared the outbreak of the coronavirus disease (COVID-19)
a "Public Health Emergency of International Concern," and on March 11, 2020, the
World Health Organization characterized the outbreak as a "pandemic". Hubei
Province, where we conduct a substantial part of our business, is the most
affected area in China. Between January of 2020 until recently, the Company's
staff and employees were instructed to work remotely. As a result, the Company's
books and records were not easily accessible, resulting in delay in preparation
and completion of the Company's financial statements.
Based on the foregoing, the Company expects to file the Annual Report on or
around May 1, 2020 but no later than May 15, 2020.
Cautionary Note Regarding Forward-Looking Statements
Certain of the statements contained in this report should be considered
forward-looking statements. These forward-looking statements may be identified
by words such as "may," "will," "expect," "intend," "anticipate," "believe,"
"estimate," "plan," "project," "could," "should," "would," "continue," "seek,"
"target," "guidance," "outlook," "if current trends continue," "optimistic,"
"forecast" and other similar words. Such statements include, but are not limited
to, statements about the Company's plans, objectives, expectations, intentions,
estimates and strategies for the future, and other statements that are not
historical facts. These forward-looking statements are based on the Company's
current objectives, beliefs and expectations, and they are subject to
significant risks and uncertainties that may cause actual results and financial
position and timing of certain events to differ materially from the information
in the forward-looking statements. These risks and uncertainties include, but
are not limited to, those set forth in the Company's Annual Report on Form 10-K
for the year ended December 31, 2018 (especially in Part II, Item 7.
Management's Discussion and Analysis of Financial Condition and Results of
Operations), and other risks and uncertainties listed from time to time in the
Company's other filings with the SEC. There may be other factors of which the
Company is not currently aware that may affect matters discussed in the
forward-looking statements and may also cause actual results to differ
materially from those discussed. In addition, there is uncertainty about the
spread of the COVID-19 virus and the impact it may have on the Company's
operations, the demand for the Company's products or services, global supply
chains and economic activity in general. The Company does not assume any
obligation to publicly update or supplement any forward-looking statement to
reflect actual results, changes in assumptions or changes in other factors
affecting these forward-looking statements other than as required by law. Any
forward-looking statements speak only as of the date hereof or as of the dates
indicated in the statement.
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