Item 8.01 Other Events.
CleanTech Biofuels, 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 "Report"), originally due on March 30, 2020, due to
circumstances related to the coronavirus disease 2019 ("COVID-19").
On Saturday, March 21, 2020, Acting Director and Chief Medical Officer of the
St. Louis County Department of Public Health, Dr. Emily Doucette, announced a
county-wide "stay at home" order in an attempt to prevent the further spread of
COVID-19 in St. Louis County. The move, which asks all St. Louis County
residents to remain at home unless they have an essential reason for going out,
will last until at least April 22, 2020. The Company's headquarters and audit
firm are all located in St. Louis County. Additionally, the Company's outside
counsel is located in the city of St. Louis, which is subject to a similar "stay
at home" order. The disruptions in transportation, staffing, and technology
systems which have occurred over the last week to both the Company and the
Company's professional advisors have resulted in limited support from the
Company's staff and professional advisors. This has, in turn, delayed the
Company's ability to complete its audit and prepare the Report. A letter from
the auditors stating the reasons for their inability to timely prepare the audit
report for the Company's fiscal year ended December 31, 2019 is filed herewith
as Exhibit 99.1. 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:
The occurrence of the COVID-19 pandemic may negatively affect our operations
depending on the severity and longevity of the pandemic.
The COVID-19 pandemic is currently impacting countries, communities, supply
chains and markets as well as the global financial markets. 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.
Depending on the severity and longevity of the COVID-19 pandemic, our business,
customers, and shareholders may experience a significant negative impact.
Item 9.01 Financial Statements and Exhibits.
Exhibit No. Description of Exhibit
99.1 Letter from Auditors regarding Reasons of Inability to Timely
Issue the Audit Report.
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