ITEM 5. OTHER INFORMATION
On April 7, 2020, the SEC issued an “Order of Suspension of Trading” temporarily suspending trading in the securities of the Company because of questions that have been raised about the accuracy and adequacy of information in the marketplace relating to the Company’s common stock, including its financial condition and its operations, if any, in light of concerns about investors confusing the Company with a similarly-named private company that is a manufacturer of N95 masks and the subject of increased media attention during the ongoing COVID-19 pandemic.
The temporary suspension started April 8, 2020 and ended April 22, 2020, however, the Depository Trust Company (“DTC”) has imposed a “Global Lock” on the Company’s stock because of the notification of the “Order of Suspension of Trading” from the SEC. The Company has had difficulty finding a broker-dealer who is willing to rely on the Company’s published financial statements without some indication from the SEC that it no longer has questions regarding the concerns it raised by the suspension of trading. Therefore, the Company has requested that the SEC provide the Company with an SEC Termination Letter which will allow trading of our stock to resume. However, the SEC has indicated that it cannot provide the termination letter because the investigation is ongoing. The SEC has indicated that it will consider the request for the termination letter at the appropriate time.
