VIEW SYSTEMS INC. (OTCMKTS:VSYM) Files An 8-K Other Events
Item 8.01 Other Events
The Company has been following the recommendations of local health authorities to minimize exposure risk for its team members (officers and service providers) for the past several weeks, including the temporary closures of certain offices of its team members to work remotely. The Company’s accountant and auditor are both in states heavily impacted by COVID-19, and, as a result, the quarterly report will not be completed by the filing deadline, due to insufficient time to facilitate the internal and external review process.
ACCORDINGLY, VIEW SYSTEMS, 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 of 1934 and Certain Rules Thereunder dated March 25, 2020 (Release No. 34-88318) (the Order) to delay the filing of its Form 10-Q for the quarter ended March 31, 2020 (the” Reports”) for 45 days due to the circumstances related to COVID-19 and the Company’s officers, consultants and securities counsel working from home as non-essential people in various states across the country.
In light of the current COVID-19 pandemic, the Company will be including the following Risk Factor in its Report:
Impacts of COVID-19 to Business and the general economy
COVID -19 has recently caused a material and substantial adverse impact on our general economy. It has also caused some interruptions to the Company’s plans. The impacts of the global emergence of Coronavirus disease (COVID-19) on our business and the general economy, are currently not fully known. We will continue to actively monitor the situation and may take further actions that alter our business operations as may be required by federal, state or local authorities or that we determine are in the best interests of our employees, potential partners, suppliers and stockholders. It is not clear what the potential effects any such alterations or modifications may have on our business, including the effects on our prospects.
About VIEW SYSTEMS INC. (OTCMKTS:VSYM)
View Systems, Inc. develops, produces and markets computer software and hardware systems for security and surveillance applications. The Company offers digital video recorder technology. It is engaged in developing interfaces with various technologies, such as facial recognition; access control cards and control devices, such as magnetic locks and alarms, and other security devices. The Company’s products include the concealed weapons detection system, the visual first responder system and the Viewmaxx digital video system. The Company’s concealed weapons detection system is known as ViewScan. The Company also offers integration of other products with ViewScan or ViewMaxx. Biometric verification is a system for recognizing faces and comparing them to known individuals, such as employees or individuals wanted by law enforcement agencies. The Company also offers a central monitoring or video command center for ViewScan or ViewMaxx products.