Item 8.01 Other Events.
In light of the current COVID-19 pandemic, the Company will be including the following Risk Factor in its 10-Q, as may be updated to reflect subsequent events impacting the Company:
We are unable to predict the impact of COVID-19 on our company.
The size of the user base and the users' level of engagement, along with the
Company tech services division being reliant on its clients ability to continue
a level of viability in their business as well as paying on their monthly,
contractual obligations to our Company during the current climate are critical
to our success. The decline in discretionary spending and travel restrictions or
travel bans as a result of the COVID-19 pandemic is expected to materially
adversely impact our operations beginning with the first quarter of 2020. The
inability for people to move their interactions on the
As a technology company we are able to have most of our staff work remotely. Our senior management will continue to monitor our situation on a daily basis; however, we expect that these factors and others we have yet to experience may materially adversely impact our company, its business and operations for the foreseeable future.
Additionally, the interruption of regular business activities has delayed
certain revenues being collected by the Company, as a significant client is
based in the
2
© Edgar Online, source