Item 8.01 Other Events
Due to the outbreak of coronavirus disease
2019 (COVID-19), DBUB Group, Inc. (the “Company”) is filing this current report on Form 8-K to avail itself of an extension
to file its Quarterly Report on Form 10-Q for the period ended March 31, 2020 (the “Quarterly Report”), originally
due on May 15, 2020, relying on an order issued by the Securities and Exchange Commission (the “SEC”) on March 4, 2020
pursuant to Section 36 of the Securities Exchange Act of 1934, as amended (Release No. 34-88318) regarding exemptions granted to
certain public companies.
In December 2019, a novel strain of coronavirus
was reported to have surfaced in Wuhan, China, which has and is continuing to spread throughout China and other parts of the world,
including the United States. On January 30, 2020, the World Health Organization declared the outbreak of the coronavirus disease
(COVID-19) a “Public Health Emergency of International Concern,” and on March 11, 2020, the World Health Organization
characterized the outbreak as a “pandemic”. Shanghai City, where our headquarters are located, is one of the most affected
areas in China. Between January and May of 2020, the Company’s staff and employees were instructed to work remotely. As a
result, the Company’s books and records were not easily accessible, resulting in delay in preparation and completion of the
Company’s financial statements.
Based on the foregoing, the Company expects
to file the Quarterly Report on or around June 15, 2020 but no later than June 29, 2020.
Cautionary Note Regarding Forward-Looking
Statements
Certain of the statements contained in this
report should be considered forward-looking statements. These forward-looking statements may be identified by words such as “may,”
“will,” “expect,” “intend,” “anticipate,” “believe,” “estimate,”
“plan,” “project,” “could,” “should,” “would,” “continue,”
“seek,” “target,” “guidance,” “outlook,” “if current trends continue,”
“optimistic,” “forecast” and other similar words. Such statements include, but are not limited to, statements
about the Company’s plans, objectives, expectations, intentions, estimates and strategies for the future, and other statements
that are not historical facts. These forward-looking statements are based on the Company’s current objectives, beliefs and
expectations, and they are subject to significant risks and uncertainties that may cause actual results and financial position
and timing of certain events to differ materially from the information in the forward-looking statements. These risks and uncertainties
include, but are not limited to, those set forth in the Company’s Annual Report on Form 10-K for the year ended December
31, 2018 (especially in Part II, Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations),
and other risks and uncertainties listed from time to time in the Company’s other filings with the SEC. There may be other
factors of which the Company is not currently aware that may affect matters discussed in the forward-looking statements and may
also cause actual results to differ materially from those discussed. In addition, there is uncertainty about the spread of the
COVID-19 virus and the impact it may have on the Company’s operations, the demand for the Company’s products or services,
global supply chains and economic activity in general. The Company does not assume any obligation to publicly update or supplement
any forward-looking statement to reflect actual results, changes in assumptions or changes in other factors affecting these forward-looking
statements other than as required by law. Any forward-looking statements speak only as of the date hereof or as of the dates indicated
in the statement.