SIMPLY, INC. : Costs Associated with Exit or Disposal Activities, Other Events (form 8-K)

Item 2.05 Costs Associated with Exit of Disposal Activities.

On June 8, 2022, the Board of Directors of the Company determined to cease the Company's business activities and terminate its workforce. The Company anticipates filing a petition for relief under Chapter 7 of Title 11 of the United States Code in the near future. The Company is currently unable to make a determination of the estimates required by item 2.05 of this Current Report on Form 8-K resulting from termination of the Company's business activities and workforce.

Item 8.01 Other Events.

On June 8, 2022, the Board of Directors of the Company determined to cease the Company's business activities and terminate its workforce. A small number of employees will be retained for a short period to administer termination of business activities. The Company anticipates filing a petition for relief under Chapter 7 of Title 11 of the United States Code in the near future.

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