Item 8.01 Other Events.
PotNetwork Holdings, Inc. (the "Company") will be relying on the Securities and
Exchange Commission's Order under Section 36 of the Securities Exchange Act of
1934 Granting Exemptions From Specified Provisions of the Exchange Act and
Certain Rules Thereunder dated March 25, 2020 (Release No. 34-88465) (the
"Order") to delay the filing of its Quarterly Report on Form 10-Q for the three
months ended March 31, 2020 (the "2020 10-Q") due to the circumstances related
to COVID-19. In particular, COVID-19 has caused disruptions in the daily
operations of our accounting function, and has caused delays with our
interactions with our auditors who must review it. Therefore, the Company's
ability to complete this report and file the 2020 10-Q prior to its due date is
delayed. Notwithstanding the foregoing, the Company expects to file the 2020
10-Q no later than June 29, 2020 (which is 45 days from the 2020 10-Q's original
filing deadline of May 15, 2020).
In light of the current COVID-19 pandemic, the Company will be including the
following Risk Factor in its 2020 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.
There is substantial uncertainty as to the effects of the coronavirus pandemic
on our business, results of operations and financial condition. The coronavirus
pandemic has caused interruptions in our normal business activity, causing many
of our staff to work from home for an indeterminate period of time, and has
slowed deliveries of product and components both to us and our customers as the
result of related disruptions in our supply chain and among our delivery
services.
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