Item 8.01 Other Events.
Synergy CHC Corp. (the "Company", "we", "us" or "our") is filing this Current
Report on Form 8-K pursuant to the Order (the "SEC Order") issued by the U.S.
Securities and Exchange Commission (the "SEC") on March 25, 2020 (Release No.
34-88465) providing conditional relief to public companies that are unable to
timely comply with their filing obligations as a result of the novel coronavirus
(COVID-19) outbreak.
The unprecedented outbreak of COVID-19 in the United States has caused the
closing of our offices and has required our internal staff, our outside
accountants and our independent registered public accounting firm to work
remotely resulting in the disruption of the Company's operations and business.
Thus, the Company is unable to timely prepare and file its Quarterly Report on
Form 10-Q for the quarter ended March 31, 2020 (the "Quarterly Report") that is
due May 15, 2020 (the "Original Due Date"), and therefore the Company elected to
rely on the conditional filing relief provided under the SEC Order.
As a result of all of the foregoing and the importance of providing materially
accurate information, the Company has determined that it will delay the filing
of the Quarterly Report by up to 45 days after the Original Due Date, or June
29, 2020 in order to allow sufficient time to compile, disseminate and review
the information required to be presented in the Quarterly Report.
The adverse public health developments and economic effects of the outbreak in
the United States could adversely affect the Company's operations as a result of
quarantines, facility closures and logistics restrictions in connection with the
outbreak. More broadly, the outbreak could potentially lead to an economic
downturn, which would likely decrease spending, adversely affecting our
business, results of operations and financial condition. The Company cannot
accurately predict the effect the COVID-19 outbreak will have on the Company.
Forward-Looking Statements
Certain of the statements contained in this report should be considered
forward-looking statements within the meaning of the Securities Act of 1933, as
amended (the "Securities Act"), the Securities Exchange Act of 1934, as amended
(the "Exchange Act"), and the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are often identified by the use of
forward-looking terminology such as "will," "believes," "expects," "endeavors"
or similar expressions, involving known and unknown risks and uncertainties.
Although the Company believes that the expectations reflected in these
forward-looking statements are reasonable, they do involve assumptions, risks
and uncertainties, and these expectations may prove to be incorrect. You should
not place undue reliance on these forward-looking statements, which speak only
as of the date of this report. The Company's actual results could differ
materially from those anticipated in these forward-looking statements as a
result of a variety of factors, including supply chain interruption, declining
sales and the impact that the novel coronavirus and the illness, COVID-19, that
it causes, as well as governmental responses to deal with the spread of this
illness, may have on the Company's operations, the demand for the Company's
products, global supply chains and economic activity in general, and the risk
factors discussed in the Company's periodic reports that are filed with the SEC
and available on the SEC's website (http://www.sec.gov). All forward-looking
statements attributable to the Company or persons acting on its behalf are
expressly qualified in their entirety by these risk factors. Other than as
required under the applicable securities laws, the Company does not assume a
duty to update these forward-looking statements.
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