Item 8.01 Other Events
Due to the outbreak of coronavirus disease 2019 (COVID-19), Oranco, Inc. (the
"Company") is filing this current report on Form 8-K to avail itself of an
extension to file its Quarterly Report on Form 10-Q for the period ended March
31, 2020 (the "Quarterly Report"), originally due on May 15, 2020, relying on an
order issued by the Securities and Exchange Commission (the "SEC") on March 4,
2020 pursuant to Section 36 of the Securities Exchange Act of 1934, as amended
(Release No. 34-88318) regarding exemptions granted to certain public companies.
In December 2019, a novel strain of coronavirus was reported to have surfaced in
Wuhan, China, which has and is continuing to spread throughout China and other
parts of the world, including the United States. On January 30, 2020, the World
Health Organization declared the outbreak of the coronavirus disease (COVID-19)
a "Public Health Emergency of International Concern," and on March 11, 2020, the
World Health Organization characterized the outbreak as a "pandemic". Shanxi
Province, where our headquarters are located, is one of the most affected areas
in China. Between January and March of 2020, the Company suspended its business
operation entirely due to the COVID-19 outbreak. As a result, the Company's
books and records were not easily accessible, resulting in delay in preparation
and completion of the Company's financial statements.
Based on the foregoing, the Company expects to file the Quarterly Report on or
around June 15, 2020 but no later than June 29, 2020.
Cautionary Note Regarding Forward-Looking Statements
Certain of the statements contained in this report should be considered
forward-looking statements. These forward-looking statements may be identified
by words such as "may," "will," "expect," "intend," "anticipate," "believe,"
"estimate," "plan," "project," "could," "should," "would," "continue," "seek,"
"target," "guidance," "outlook," "if current trends continue," "optimistic,"
"forecast" and other similar words. Such statements include, but are not limited
to, statements about the Company's plans, objectives, expectations, intentions,
estimates and strategies for the future, and other statements that are not
historical facts. These forward-looking statements are based on the Company's
current objectives, beliefs and expectations, and they are subject to
significant risks and uncertainties that may cause actual results and financial
position and timing of certain events to differ materially from the information
in the forward-looking statements. These risks and uncertainties include, but
are not limited to, those set forth in the Company's Annual Report on Form 10-K
for the year ended June 30, 2019 (especially in Part II, Item 7. Management's
Discussion and Analysis of Financial Condition and Results of Operations), and
other risks and uncertainties listed from time to time in the Company's other
filings with the SEC. There may be other factors of which the Company is not
currently aware that may affect matters discussed in the forward-looking
statements and may also cause actual results to differ materially from those
discussed. In addition, there is uncertainty about the spread of the COVID-19
virus and the impact it may have on the Company's operations, the demand for the
Company's products or services, global supply chains and economic activity in
general. The Company does not assume any obligation to publicly update or
supplement any forward-looking statement to reflect actual results, changes in
assumptions or changes in other factors affecting these forward-looking
statements other than as required by law. Any forward-looking statements speak
only as of the date hereof or as of the dates indicated in the statement.
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