DALRADA FINANCIAL CORPORATION (OTCMKTS:DFCO) Files An 8-K Other Events
ITEM 8.01 OTHER EVENTS
On March 4, 2020, the U.S. Securities and Exchange Commission (the “SEC”) 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. On March 25, 2020, the order was modified and superseded by a new SEC order (Release No. 34-88465), which provides conditional relief to public companies that are unable to timely comply with their filing obligations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 “SEC Order”). The SEC 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 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, if certain conditions are satisfied.
The COVID-19 restrictions imposed has caused our Company significant disruptions in the following areas, 1)transportation, 2) limited access to the Company\’s facilities and 3) the stay at home orders, all of which is resulting in limited support from our staff and professional advisors. This has, in turn, is delaying the Company\’s ability to prepare and complete its quarterly report as well as management’s review of the report. Based on the foregoing, the Company expects to file the Quarterly Report no later than June 29, 2020, which is within 45 days from the Report\’s original filing deadline.
In light of the current COVID-19 pandemic, the Company will be including the following Risk Factor in its Report:
An occurrence of an uncontrollable event such as the COVID-19 pandemic may negatively affect our operations.
The occurrence of an uncontrollable event such as the COVID-19 pandemic may negatively affect our operations. A pandemic typically results in social distancing, travel bans and quarantine, and this may limit access to our facilities, customers, management, support staff and professional advisors. These factors, in turn, may not only impact our operations, financial condition and demand for our goods and services but our overall ability to react timely to mitigate the impact of this event. Also, it may hamper our efforts to comply with our filing obligations with the Securities and Exchange Commission.
About DALRADA FINANCIAL CORPORATION (OTCMKTS:DFCO)
Dalrada Financial Corporation (Dalrada) is a financial services company. The Company provides employer business solutions to small and medium size companies. The Company’s services include staffing, human resource administration, payroll processing, workers compensation insurance, business liability insurance, health insurance, employee benefits, 401(k) plans, deferred compensation and financial management assistance. Dalrada specializes in providing financial, insurance, benefit, and business process outsourcing products and services. Dalrada eliminates payroll paperwork by processing checks, deducting payroll taxes and submitting them to the government agencies, maintaining all payroll records, preparing and issuing W-2’s, and delivering payroll checks for each pay period.