Kiwa Bio-Tech Products Group Corporation (OTCMKTS:KWBT) Files An 8-K Other Events
Item 8.01 Other Events
Kiwa Bio-Tech Products Group Corporation (OTCMKTS:KWBT) Files An 8-K Other Events
Item 8.01 Other Events.
On March 6, 2020, Kiwa Bio-Tech Products Group Corporation (the “Company”) provided an update on the impact of the Coronavirus outbreak on its business and operation.
The preparation of the Company’s Annual Report including financial statements and completion of the auditing process has been delayed by Government-imposed quarantines, office closings and travel restrictions which affect both the Company’s and its service provider’s personnel. Specifically, the Company has significant operations in the city of Yangling, Shaanxi Province, China. Due to concerns related to the spread of the Coronavirus, the entire city of Yangling has been locked down by the Government of China since January 25, 2020. All of the Company’s employees in this area have been required by the Government to stay at home until further notice, subject to the containment of the Coronavirus. Banks in the area are not engaged in normal operations and specific bank reporting required to complete the Company’s audit cannot be obtained at this time. In compliance with the Government’s health emergency rules in place, the Company’s building has been temporarily closed since January 19, 2020 and people are not allowed to enter the office and to access certain of the Company’s business records located in it. Due to Government-imposed quarantines, office closings and travel restrictions affecting the Company’s personnel and service providers, the Company’s accounting department has been unable to process certain of its accounting records and receipts required to complete the audit of the Company’s financial statements.
About Kiwa Bio-Tech Products Group Corporation (OTCMKTS:KWBT)
Kiwa Bio-Tech Products Group Corporation develops, manufactures, distributes and markets bio-technological products for agriculture. The Company has acquired technologies to produce and market bio-fertilizer. The Company has developed over six bio-fertilizer products with bacillus spp and/or photosynthetic bacteria as its ingredients. The Company’s products contain ingredients of both photosynthesis and bacillus bacteria. The Company’s products include KiwaBiological Organic Fertilizer, Kiwa Yi Mu Ling, Kiwa Di Fu Kang, Kiwa Microbial Specific Fertilizer For Rice, Kiwa Microbial Specific Fertilizer For Corn, Kiwa Microbial Specific Fertilizer For Potato, Kiwa Microbial Specific Fertilizer For Soybean, Kiwa Microbial Specific Fertilizer For Tea Tree, Kiwa Microbial Specific Fertilizer For Tobacco, Kiwa Microbial Specific Fertilizer For Fruit Trees, Kiwa Microbial Specific Fertilizer For Vegetables and Kiwa Full Effect Type Foliar For Golf Turf.
