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, as amended ("Exchange Act"), granting exemptions from
specified provisions of the Exchange Act and certain rules thereunder (the
"Order"). The 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 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.
Kiwa Bio-Tech Products Group Corporation (the "Company") originally filed a Form
8-K regarding the coronavirus' potential impact on its business and its ability
to timely file its Form 10-K Annual Report for the period ended December 31,
2020. We are furnishing this Amended Current Report on Form 8-K/A to indicate
our 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 previously announced in its Form 8-K filed on March 6, 2020 (and amended on
March 30, 2020), the preparation of the Company's Annual Report including
financial statements and completion of the auditing process has been delayed by
Chinese Government-imposed quarantines, office closings and travel restrictions
which affect both the Company's and its service provider's personnel.
Specifically, the Company has significant operations in the city of Yangling,
Shaanxi Province, China. Due to concerns related to the spread of the
Coronavirus, the entire city of Yangling was locked down by the Government of
China since January 25, 2020 and has only recently re-opened. Until recently,
all of the Company's employees in this area have been required by the Government
to stay at home until further notice, subject to the containment of the
Coronavirus. In compliance with the Government's health emergency rules in
place, the Company's building has been temporarily closed since January 19, 2020
and, until recently, people were not allowed to enter the office and to access
certain of the Company's business records located in it. Due to
Government-imposed quarantines, office closings and travel restrictions
affecting the Company's personnel and service providers, the Company's
accounting department has been unable to process certain of its accounting
records and receipts on a timely basis as required to complete the audit of the
Company's financial statements.
These unforeseen circumstances have resulted in the Company being unable to
timely file an accurate Annual Report on Form 10-K for its year-ended December
31, 2019 by the prescribed date without undue hardship and expense to the
Company. Accordingly, in reliance upon the Order, the Company has requested an
additional extension of the filing deadline for the Form 10-K from May 15, 2020
to June 1, 2020.
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