SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT
REPORTED) April 2, 2020
Alpine 4 Technologies Ltd.
NAME OF REGISTRANT AS SPECIFIED IN CHARTER)
OR OTHER JURISDICTION OF
INCORPORATION OR ORGANIZATION)
(COMMISSION FILE NO.)
(IRS EMPLOYEE IDENTIFICATION
2525 E Arizona Biltmore
Circle, Suite 237
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)
(ISSUER TELEPHONE NUMBER)
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
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Pre-commencement communications pursuant to Rule 14d-2(b) under the
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pursuant to Section 12(b) of the Act:
Title of each
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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
growth company [X]
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
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8.01 Other Events.
Shareholders and Employees,
the ongoing COVID-19 outbreak, we want to update you on actions
taken by Alpine 4 and our subsidiaries to maintain business
operations. Further, I will also take this opportunity to
give updated revenue guidance for 2019 and preliminary revenue
guidance Q1, 2020.
continue taking guidance from government and public health
authorities to ensure the health and well-being of our vendors,
customers, employees and their families. Further, Alpine 4
has issued several HR-related directives to employees on its
expectations for work-related actions to best ensure safety.
Last week, I gave the directive to Mr. Jeffrey Hail, COO of
Alpine 4, to work with our buyers to source and procure N95/KN95
masks for our workers. They will be distributed to our
employees as soon as we can receive them. At this point, we
have only issued a Purchase Order for these masks and anticipate
having them delivered within the next 7-10 days. To our
employees, please check with your leadership team and Trish
Norvell, HR Director, for more updates.
are also working closely with our banking partners to access the
SBA Paycheck Protection Program and the SBA Disaster Relief Fund to
access additional funds. We will provide more updates on the
status of our funding to our leadership teams, subsidiary-wide as
we receive them.
Sheet Metal, Corp: Last week, the states of Indiana and
Michigan declared a “Shelter in Place” Order. MSM has been
deemed an essential service provider and can continue to work with
some limitations. The subsidiary has no confirmed cases of
COVID-19. MSM has been working extensively with several
hospitals to build isolation rooms for our hospital partners and
has built over 80 of them to date.
Sheet Metal, Inc: Last week, the states of Indiana and
Michigan declared a “Shelter in Place” Order. DSM has been
deemed an essential service provider and can continue to work with
some limitations. DSM has also been contracted to build
isolation rooms for hospitals in NW Indiana and Michigan. The
subsidiary has no confirmed cases of COVID-19.
Fabrication, LLC: Last week, the state of Idaho declared a
“Shelter in Place” Order. EXL has been deemed an essential
service provider and can continue to work with some limitations.
EXL has seen a dramatic increase for their services since
they provide necessary services to our food processing and energy
Circuit Assembly, Inc: The State of California issued a
“Shelter in Place” Order on March 20th, 2020. QCA
has been deemed an essential service provider as it provides
engineering and manufacturing to the healthcare, aerospace and
military industries. Alpine 4 is working with our employees
at QCA to maintain critical jobs to keep basic operations going.
All employees that can perform their duties from home are
Precision Fabricators, Inc: Has no confirmed cases of
LLC: Due to the nature of this business unit, has no cases of
Inc.: Due to the nature of this business unit, has no cases
All of Our Employees,
ELT (executive leadership team), BOD (Board of Directors) and
myself can’t express enough gratitude and respect for your
continued dedication. You are the reason that, we as a
country, are going to get through this trying time. Your work
is literally saving lives and all of you should hold your head high
for the work you are doing. Know that management continues to
come to work every day on your behalf. Please take every
precaution to comply with the safety guidance that HR has released.
Be compassionate to one another, use common sense and apply
wisdom in the way you perform your work. We all rely on you
to make good choices.
Revenue Guidance and Q1, 2020 Preliminary Revenue
Since most questions that I am receiving right now are based
around impacts to revenue due to COVID-19 and our 10K filing, I am
going to purposefully keep this email directed at those two topics.
Once our 10K is released, I will provide another CEO letter
to walk through the results of our holding subsidiaries; A4
Manufacturing, Inc., A4 Construction Services, Inc., and A4
Technologies, Inc. with deeper analysis of our P&L and Balance
Sheets. For those of you who take the time to
email myself and Investor Relations, we truly do value your
questions, candor, insight and concerns.
Recently we made the decision, at the recommendation of our
auditing firm and legal counsel, to file an 8K with the SEC to
accept their 10K and 10Q extensions. Over the past few weeks,
as the effects of the COVID-19 crisis permeated it has created
greater work accessibility challenges with our subsidiaries,
auditors and other advisors. It became apparent that
extra time would be needed to complete the required filing.
It is our goal to not take the full extension time frame,
although depending on resources, it may become necessary to take
the full time allotted.
Revenue: The company is updating revenue
projections from $28 million to $29 million for fiscal year 2019.
This would bring the company’s 2019 revenue to roughly 103%
of 2018 revenue. I stress that this is subject to final
auditors’ approval and the ending 10K results may differ.
Preliminary Revenue Guidance: For Q1, 2020, the
company anticipates reporting revenue of $8.5m, which is growth of
roughly 20% over Q1, 2019. It is important to note that
December through March are our four slowest months of the year.
The COVID-19 crisis as well has impacted our sales.
closing, please know that whether you are a shareholder, employee,
customer or vendor, we value all of you and we want you to be safe.
Alpine 4 Technologies, Ltd.
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.
By: /s/ Kent B. Wilson
Chief Executive Officer, President
(Principal Executive Officer)
Date: April 2, 2020