EOS, INC. Item 8.01 Other Events
Due to the outbreak of coronavirus disease 2019 (COVID-19),
The Company's operations and business have experienced disruption due to the
unprecedented conditions surrounding the COVID-19 pandemic spreading throughout
In
The Company has been following the recommendations of local health authorities to minimize exposure risk for its employees for the past several months, including the temporary closures of its offices and having employees work remotely to the extent possible, which has to an extent adversely affected their efficiency. As a result, the Company's books and records were not easily accessible, resulting in delays in preparation and completion of its financial statements. Further, the various governmental mandatory closures of businesses in these locations have precluded the Company's personnel, particularly its senior accounting staff, from obtaining access to its subsidiaries' books and records necessary to prepare the Company's unaudited condensed interim financial statements to be included in the Quarterly Report.
As such, the Company will be relying upon the 45-day grace period provided by
the
The Company is supplementing its subsequent quarterly reports on Form 10-Q with the following risk factor:
Our business operations have been and may continue to be materially and adversely affected by the outbreak of the coronavirus (COVID-19).
An outbreak of respiratory illness caused by COVID-19 emerged in late 2019 and
has spread within the PRC and globally. The coronavirus is considered to be
highly contagious and poses a serious public health threat. The
Our revenues and workforce are concentrated in
· the uncertain economic conditions may refrain the traders from their
investment activities on our trading platform;
· quarantines impeded our ability to recruit new service agents and traders.
Travel restrictions limited other parties' ability to visit and meet us in
person. Although most communication could be achieved via video calls, this
form of remote communication may be less effective in building trust and
engaging new agents and traders.
· the operations of our existing authorized agents and service agents have
been and could continue to be negatively impacted by the epidemic, which may
in turn adversely impact the listing and trading transactions on our
platform or result in loss of customers or disruption to our operations.
The above adverse impacts might be mitigated as quarantines across
Additionally, the pandemic has affected our overall ability to react timely to
mitigate the impact of this event and has substantially hampered our efforts to
provide our investors with timely information and comply with our filing
obligations with the
Cautionary Note Regarding Forward-Looking Statements
Certain information contained in this Current Report on Form 8-K may be deemed
to be forward-looking statements within the meaning of Section 21E of the
Securities Exchange Act of 1934, as amended. This information includes, without
limitation, statements concerning the Company's future business and financial
position and results of operations, business strategy and other plans for future
operations. Although the Company believes that the expectations reflected in
such forward-looking statements are reasonable, it can give no assurance that
such expectations will prove to have been correct. We undertake no obligation to
publicly update or revise any forward-looking statements, whether as a result of
new information, future events or otherwise. Generally, the words "anticipate,"
"believe," "estimate," "expect," "may" and similar expressions, identify
forward-looking statements, which generally are not historical in nature. Actual
results could differ materially from the results described in the
forward-looking statements due to the risks and uncertainties set forth in this
Current Report on Form 8-K, and those described from time to time in our future
reports filed with the
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