VASO Corp 8-K, filed May 14, 2020
VASO Corp (VASO)
8-K
2020-05-14
For: 2020-05-14
View Original
Added on
April 06, 2026
About this 8-K
VASO Corp filed this 8-K on May 14, 2020.
Items reported
- Item 8.01: Other events
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant
to Section 13 or 15(d) of
the
Securities Exchange Act of 1934
Date of
Report: May 14, 2020
(Date
of earliest event reported)
VASO CORPORATION
(Exact
name of registrant as specified in charter)
|
Delaware
|
0-18105
|
11-2871434
|
|
(State
or other jurisdiction
|
(Commission
File
|
(IRS
Employer
|
|
of
incorporation)
|
Number)
|
Identification
No.)
|
|
137 Commercial
Street, Suite 200, Plainview, New York
|
11803
|
|
(Address
of principal executive offices)
|
(Zip
Code)
|
Registrant’s
telephone number, including area code:
(516) 997-4600
.
(Former
name or former address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant
under any of the following provisions (see General Instruction A.2.
below):
|
☐
|
Written
communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
|
|
☐
|
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|
|
☐
|
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b))
|
|
☐
|
Pre-commencement
to communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 CFR 240.13e-4(c))
|
Securities
registered or to be registered pursuant to Section 12(b) of the
Act:
|
Title
of each class
|
Trading
Symbol(s)
|
Name of
each exchange on which registered
|
|
|
|
|
Indicate
by check mark whether the registrant is an emerging growth company
as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of
1934 (§240.12b-2 of this chapter).
Emerging
growth company ☐
If an
emerging company, indicate by check mark if the registrant has
elected not to use the extended transition period for complying
with any new or revised financial accountant standards provided
pursuant to Section 13(a) of the Exchange Act. ☐
ITEM 8.01 – OTHER EVENTS
In
accordance with the Securities and Exchange Commission (the
“SEC”) Order Under Section 36 of the Securities
Exchange Act of 1934 Granting Exemptions from Specified Provisions
of the Exchange Act and Certain Rules Thereunder, SEC Release No.
34-88318, dated March 4, 2020 and Release No. 34-88465 dated March
25, 2020 (the “Order”), Vaso Corporation (the
“Company”) hereby states the following:
●
The Company is
relying on the relief provided by the Order in connection with the
filing of its Quarterly Report on Form 10-Q for the first quarter
ended March 31, 2020 (the “Quarterly
Report”).
●
The delay in filing
is due to staffing difficulties by both the Company and the
auditors as a result of the COVID-19 pandemic, materially impairing
the Company’s ability to file its Quarterly Report by May 15,
2020. The Company’s principal offices, including its
accounting department, are located in Nassau County, New York,
which area has been significantly impacted by the coronavirus.
Since March 16, 2020, the Company's employees have been working
remotely. As a result, the Company's books and records are not
easily accessible, resulting in a delay in the preparation and
completion of its financial statements required in the Quarterly
Report. The Company is relying on the Order because it could not
manage the aforementioned challenges in finalizing the Quarterly
Report by the prescribed filing date. Attached is a letter from the
Company’s auditors, MaloneBailey LLP, in support of this
position.
●
The Company
currently expects to file the Quarterly Report on or about June 1,
2020, but in any event no later than 45 days after the original due
date for the Quarterly Report.
Forward-Looking Statements
Forward looking statements in this document are made under the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995.
Except for historical information contained in this report, the
matters discussed are forward-looking statements that involve risks
and uncertainties, including but not limited to the spread of
COVID-19 and governmental and industry response thereto. When used
in this report, words such as “anticipates”,
“believes”, “could”,
“estimates”, “expects”, “may”,
“plans”, “potential” and
“intends” and similar expressions, as they relate to
the Company or its management, identify forward-looking statements.
Such forward-looking statements are based on the beliefs of the
Company’s management, as well as assumptions made by and
information currently available to the Company’s management.
Among the factors that could cause actual results to differ
materially are the following: the effect of business and economic
conditions; the effect of the dramatic changes taking place in IT
and healthcare; continuation of the General Electric Healthcare
agreements; the impact of competitive technology and products and
their pricing; medical insurance reimbursement policies; unexpected
manufacturing or supplier problems; unforeseen difficulties and
delays in the conduct of product development programs; the actions
of regulatory authorities and third-party payers in the United
States and overseas; and the risk factors reported from time to
time in the Company’s SEC reports. The Company undertakes no
obligation to update forward-looking statements as a result of
future events or developments.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(d)
Exhibits.
|
Exhibit
No.
|
|
Description
|
|
|
Letter from
MaloneBailey LLP to the Board of Directors of Vaso Corporation
dated May 12, 2020.
|
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.
|
|
VASO CORPORATION
|
|
|
|
|
|
|
|
|
Date: May
14, 2020
|
By:
|
/s/ Jun Ma
|
|
|
|
|
Jun Ma
|
|
|
|
|
Chief
Executive Officer and President
|
|
Exhibit
99.1
