On submission of the audited annual report
1) Due to the crisis caused by Covid-19, there is a significant drop in demand in the rental market (critically low activity), thus it is difficult to rent the above-mentioned real estate owned by the Company, and the production of acoustic systems is suspended until the emergency situation is canceled.
2) Negotiations with potential investors on investments in the restoration of the company's full-fledged operations have been suspended until the moment of the emergency situation canceled.
The force majeure circumstances described above due to the spread of Covid-19 have significantly worsened the Company's financial situation. The declared state of emergency has made it difficult to gain income from the Company's economic activities, therefore we would like to inform you that the deadline for submitting the audited annual report to the Commission is July 01, 2020.
|