OWC PHARMACEUTICAL RESEARCH CORP. : Other Events (form 8-K)

Item 8.01 Other Events.

On March 24, 2020, in response to the COVID-19 pandemic, applicable regulations restricting economic activities and the expected dramatic effects and uncertainty, OWC Pharmaceutical Research Corp. (the "Company") decided to initiate cross-cutting, streamlining and savings procedures, including the decision to put the company's employee on unpaid furlough, to offer key employees a transition from the employment framework to a consulting agreement other than Messrs. Ohad and Riterband. The Company stated that it would seek to minimize the long-term impact of the move and to allow for restarting operations should circumstances, permit.

Item 9.01. Exhibits



(d) Exhibits



Exhibit No.   Exhibit
3.1             Certificate of Designation of Series A Preferred Stock
              (incorporated by reference to Exhibit 3.1 to the Company's Current
              Report on Form 8-K filed with the SEC on May 3, 2018).

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