Coda Octopus Group Inc (CODA)

[Katfish]

8K out today:

Item 8.01 Other Events.



On April 6, 2020, the Chief Executive Officer of Coda Octopus Group, Inc. (the “Company”) voluntarily decided to waive payment of more than one third of her compensation for the next three months. In addition, all members of the Company’s Board of Director resolved to waive all board fees for the same period.



These actions were taken in anticipation of expected reductions in personnel salaries that the Company’s management will seek to cut costs in order to mitigate the impact of COVID-19 and the current economic climate on its business.



The information in this Current Report on Form 8-K is being furnished under Item 8.01 and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”), or otherwise subject to the liabilities of such section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.