Current Report Filing (8-k)
June 26 2020 - 4:09PM
Edgar (US Regulatory)
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 (Date of earliest event reported): June 26, 2020
CHINA
JO-JO DRUGSTORES, INC.
(Exact
name of Registrant as specified in charter)
Nevada
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001-34711
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98-0557852
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(State
or other jurisdiction
of Incorporation)
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(Commission
File No.)
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(IRS
Employer
Identification No.)
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Hai
Wai Hai Tongxin Mansion Floor 6 Gong Shu District,
Hangzhou
City, Zhejiang Province, People’s Republic of China, 310008
(Address
of principal executive offices) (Zip Code)
Registrant’s
telephone number, including area code: +86-571-88219579
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:
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☐
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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☐
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Soliciting
material pursuant to Rule14a-12 under the Exchange Act (17 CFR 240.14a-12)
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☐
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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☐
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class
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Trading
Symbol(s)
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Name
of each exchange on which registered
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Common
Stock
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CJJD
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NASDAQ
Capital Market
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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 growth 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 accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item
8.01 Other Events
China
Jo-Jo Drugstores, Inc., a Nevada corporation (the “Company”) makes the following disclosure pursuant to the
Order (the “Order”) issued by the U.S. Securities and Exchange Commission (the “SEC”) on
March 25, 2020 (Release No. 34-88465) providing conditional relief to public companies that are unable to timely comply with their
filing obligations as a result of the novel coronavirus (COVID-19) outbreak.
The
Company’s operations and business have experienced disruption due to the unprecedented conditions surrounding the outbreak of
COVID-19. Thus the Company is unable to timely prepare and file its Annual Report on Form 10-K for the fiscal year ended March
31, 2020 (the “Annual Report”) that is due June 29, 2020 (the “Original Due Date”). Therefore
the Company elected to rely on the conditional filing relief provided under the Order.
In
light of the circumstances and uncertainty surrounding the effects of the COVID-19 pandemic on the business, employees, consultants
and service providers of the Company, and considering the lack of time for the compilation, dissemination and review of the information
required to be presented and the importance of markets and investors receiving materially accurate information in the Annual Report,
the Company has determined that it will delay the filing of the Annual Report by up to 45 days after the Original Due Date, or
until August 13, 2020.
Amidst
the COVID-19 outbreak, the Company experienced a decline in the number of customer visits during the first three months of calendar
2020 due to the implementation of the lockdown policy in China. In addition, because some of our employees could not come to the
workplace, we were short of staff which slowed down our logistic service and impacted our customer service at stores. However,
as China is gradually controlling the spread of COVID-19, we believe these negative impacts are temporary. Currently we are unable
to accurately predict the future impact of COVID-19 due to the developing circumstances and uncertainty surrounding this current
pandemic, including the ultimate geographic spread of COVID-19, the severity of the disease, the duration of the outbreak, and
effectiveness of the actions that may be taken by governmental authorities. The management has been closely monitoring the impact
caused by COVID-19 and we will continue to operate our business as steadily and safely as we can.
Certain
of the statements contained in this report should be considered forward-looking statements within the meaning of the Securities
Act of 1933, as amended (the “Securities Act”), the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), and the Private Securities Litigation Reform Act of 1995. These forward-looking statements are often identified
by the use of forward-looking terminology such as “will,” “believes,” “expects,” “endeavor”
or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations
reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these
expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only
as of the date of this report. The Company’s actual results could differ materially from those anticipated in these forward-looking
statements as a result of a variety of factors, including the risk factors discussed in the Company’s periodic reports that are
filed with the SEC and available on the SEC’s website (http://www.sec.gov). All forward-looking statements attributable to the
Company or persons acting on its behalf are expressly qualified in their entirety by these risk factors. Other than as required
under the applicable securities laws, the Company does not assume a duty to update these forward-looking statements.
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.
Date:
June 26, 2020
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CHINA
JO-JO DRUGSTORES, INC.
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By:
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/s/
Lei Liu
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Name:
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Lei
Liu
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Title:
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Chief
Executive Officer
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2
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