Global Boatworks Holdings, Inc. (OTCMKTS:GBBT) Files An 8-K Other Events

Global Boatworks Holdings, Inc. (OTCMKTS:GBBT) Files An 8-K Other Events
Item 8.01

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Global Boatworks 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 Annual Report on Form 10-K for the year ended December 31, 2019 (the “2019 10-K”) due to the circumstances related to COVID-19. In particular, COVID-19 has caused disruptions in our normal interactions with our auditors. The Company has a small accounting staff and historically we provided our auditors with full access to work papers and related information. Because the audit personnel are now working remotely as much as possibl,e as are our accounting personnel, this has slowed everyone’s workflow and the Company’s ability to complete its audit and file the 2019 10-K prior to its due date is delayed. Notwithstanding the foregoing, the Company expects to file the 2019 10-K no later than May 14, 2020 (which is 45 days from the 2019 10-K’s original filing deadline of March 30, 2020).

In light of the current COVID-19 pandemic, the Company will be including the following Risk Factor in its 2019 10-K, as may be updated to reflect subsequent events impacting the Company:

We are unable to predict the impact of COVID-19 on our company.

The Luxuria series of floating homes is constructed in marine facilities and appeals to those that seek a life>

About Global Boatworks Holdings, Inc. (OTCMKTS:GBBT)

Global Boatworks Holdings, Inc. is a development-stage company. The Company commercializes upscale stationary vessels built on a barge bottom. The Company owns a vessel, the Miss Leah. The Company operates the Miss Leah as a short-term rental in Boston Harbor, Massachusetts. The Miss Leah is a two-story vessel, which is approximately 1,500 square feet under air, and includes two bedrooms, two bathrooms, wood floors throughout, granite countertops, stainless steel appliances and a fireplace. The Miss Leah is docked at Marina Bay in Boston, Massachusetts. Its subsidiary is Global Boatworks, LLC. Its target customers are owners of marinas and other businesses, and individuals seeking rental properties for their customers, corporations seeking a venue for company events and functions, persons seeking a vacation or second home on the water, and individuals seeking to live on a floating vessel with the amenities found in a home. It seeks to sell a floating vessel known as the Luxuria model.

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