Item 8.01 Other Events.
Driven Deliveries, Inc. (the "Company") is 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 Quarterly Report on Form 10-Q for the
quarter ended March 31, 2020 (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 prepare and file the Report. Notwithstanding
the foregoing, the Company expects to file the Report no later than June 29,
2020 (which is 45 days from the Report's original filing deadline of May 15,
2020).
The Company will be including the following disclosure with regard to the effect
of the coronavirus in the Management's Discussion and Analysis of Financial
Condition Section into its Report:
Natural disasters and other events beyond our control could materially adversely
affect us.
Natural disasters or other catastrophic events may cause damage or disruption to
our operations, international commerce and the global economy, and thus could
have a strong negative effect on us. Our business operations are subject to
interruption by natural disasters, fire, power shortages, pandemics and other
events beyond our control. Such events could make it difficult or impossible for
us to deliver our services to our customers and could decrease demand for our
services. In December 2019, COVID-19 was reported in Wuhan, China. The World
Health Organization has since declared the outbreak to constitute a pandemic.
The extent of the impact of COVID-19 on our operational and financial
performance will depend on certain developments, including the duration and
spread of the outbreak, the impact on our customers and employees, all of which
are uncertain and cannot be predicted. At this point, the overall extent to
which COVID-19 may impact our financial condition or results of operations is
uncertain. However, on March 19, 2020, California Governor Gavin Newsome issued
an executive order requiring all California residents to stay home. Our
principal executive offices are located in El Segundo, California and the
majority of our business is conducted in California. Accordingly, our operations
and revenues will continue to be impacted for as long as the executive order
remains in place.
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