OriginClear, Inc. (OTCMKTS:OCLN) Files An 8-K Other Events
Item 8.01 Other Events.
OriginClear, 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 4, 2020 (Release No. 34-88318) (the “Order”) to delay the filing of its Annual Report on Form 10-K for the year ended December 31, 2019 (the “Report”) due to the circumstances related to COVID-19. In particular, COVID-19 has caused severe disruptions in transportation and limited access to the Company’s facilities resulting in limited support from its staff and professional advisors. This has, in turn, delayed the Company’s ability to complete its audit and prepare the Report. Notwithstanding the foregoing, the Company expects to file the Report no later than May 14, 2020 (which is 45 days from the Report’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 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 OriginClear, Inc. (OTCMKTS:OCLN)
OriginClear, Inc. (OriginClear), formerly OriginOil, Inc., is a provider of water treatment solutions and the developer of a water cleanup technology. The Company, through its subsidiaries, provides systems and services to treat water in a range of industries, such as municipal, pharmaceutical, semiconductors, industrial, and oil and gas. The Company has developed the Electro Water Separation water cleanup technology using multi-stage electrochemistry, which it licenses across the world to water treatment equipment manufacturers. Its subsidiary, Progressive Water Treatment, Inc. (PWT), is a designer, builder and service provider for a range of industrial water treatment applications. PWT is engaged in designing and manufacturing a line of water treatment systems for municipal, industrial and pure water applications. The Company also offers a range of services, including maintenance contracts, retrofits and replacement assistance.
