Flotek Industries, Inc. (NYSE:FTK) Files An 8-K Other Events
Item 8.01.
Flotek Industries, Inc. (NYSE:FTK) Files An 8-K Other Events
Due to the impacts of the COVID-19 outbreak, Flotek Industries, Inc. (the “Company”) expects that it will be unable to meet its filing deadline of June 30, 2020 for its Form 11-K related to the audit of its 401(k) plan (the “Form 11-K”), and intends to rely on the order issued by the SEC on March 25, 2020, Release No. 34-88465, that grants certain exemptions related to reporting requirements for certain public companies to delay the filing of the Form 11-K.
The expected inability of the Company to file the Form 11-K is a result of difficulties in communication between the Company’s internal personnel and with external advisors during the COVID-19 emergency, as well as challenges receiving information from outside vendors. The Company expects that it will be able to file the Form 11-K on or around July 31, 2020. The risk factor included in Item 8.01 of the Company’s Current Report on Form 8-K filed on May 7, 2020 is hereby incorporated by reference.
About Flotek Industries, Inc. (NYSE:FTK)
Flotek Industries, Inc. is a technology-driven company that develops and supplies oilfield products, services and equipment to the oil, gas and mining industries. The Company has four business segments: Energy Chemistry Technologies, Consumer and Industrial Chemical Technologies, Drilling Technologies, and Production Technologies. The Energy Chemistry Technologies segment designs, develops, manufactures, packages and markets chemicals for use in oil and gas well drilling, cementing, completion, stimulation and production activities. The Consumer and Industrial Chemicals Technologies segment sources citrus oil domestically and internationally, and is a processor of citrus oils. The Drilling Technologies segment is a provider of downhole drilling tools for use in oilfield, mining, water-well and industrial drilling activities. The Production Technologies segment provides pumping system components, electric submersible pumps, gas separators, production valves and complementary services.