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8-KThe WireRoutine

Company Update

Filed Mar 30, 2020 · 6y ago · Accession 0001493152-20-005143

Plain English

Material event — a significant development the company must disclose promptly.

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Securities and Exchange Commission issued an order (the “Order”) providing conditional regulatory relief and assistance to reporting companies impacted by the 2019 novel coronavirus disease (“COVID-19”). The Company has been impacted by COVID-19 and, due to this impact, is unable to meet the original deadline for filing its Annual Report on Form 10-K for the Fiscal Year ending December 31, 2019 (the “Form 10-K”). The Company is relying on the Order to extend the filing deadline for the Form 10-K to May 14, 2020. As a result of the COVID-19 pandemic and the resulting government restrictions including mandatory school and business closings, shelter-in-place and other containment strategies, various personnel responsible for preparing, confirming and filing of the Form 10-K were unable to work on, and finalize the 10-K. While there can be no assurances, the Company is working to file the Form 10-K on or before May 14, 2020, as provided by the Extension. Item 1.1A of the Form 10-K will include the following additional Risk Factor related to COVID-19. Impact of COVID-19 Pandemic In December 2019, a novel strain of coronavirus was reported to have surfaced in Wuhan, China. In January 2020, this coronavirus spread to other countries, including the United States, and efforts to contain the spread of this coronavirus intensified. The outbreak and any preventative or protective actions that governments or we may take in respect of this coronavirus may result in a period of business disruption, reduced customer traffic and reduced operations. The Company has observed a decline in customer demand for its services and expects this decline to continue. Any resulting financial impact cannot be reasonably estimated at this time but may materially affect our business, financial condition and results of operations. The extent to which the coronavirus impacts our results will depend on future developments, which are highly uncertain and cannot be predicted, including new information which may emerge concerning the severity of the coronavirus and the actions to contain the coronavirus or treat its impact, among others. Forward-Looking Statements This Current Report on Form 8-K contains “forward-looking statements”, including statements regarding the filing of the Form 10-K. Forward-looking statements can generally be identified by the use of words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “project,” “potential,” “seek,” “should,” “think,” “will,” “would” and similar expressions, or they may use future dates. Forward-looking statements in this document include, without limitation, statements regarding the Company’s expectations as to the timing of the filing of the Form 10-K and the impact of the COVID-19 pandemic. These forward-looking statements are subject to assumptions, risks and uncertainties that may change at any time, and readers are therefore cautioned that actual results could differ materially from those expressed in any forward-looking statements. Factors that could cause actual results to differ include, among other things: risks and uncertainties associated with continued market and workforce conditions; and other risks and uncertainties discussed in the Company’s filings with the SEC, including the “Risk Factors” sections of the Company’s Current Report on Form 8-K filed on October 30, 2019. The Company undertakes no obligation to update any forward-looking statements as a result of new information, future developments or otherwise, except as expressly required by law. All forward-looking statements in this document are qualified in their entirety by this cautionary statement. 2 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. RELIABILITY INCORPORATED Date: March 30, 2020 /s/ Nick Tsahalis By: Nick Tsahalis Its: President 3
Filing details
Ticker
RLBY
CIK
34285
Form type
8-K
Filing date
Mar 30, 2020
Report date
Mar 30, 2020
Document
form8-k.htm
Size
32 KB