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): May 27, 2020

 

DAYBREAK OIL AND GAS, INC.

(Exact Name of Registrant as Specified in its Charter)

 

Washington 000-50107 91-0626366
(State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.)

 

1101 N. Argonne Road, Suite A 211

Spokane Valley, WA

  99212
(Address of principal executive offices)   (Zip Code)

 

Registrant's telephone number, including area code: (509) 232-7674

 

 

(Former Name 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:

 

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
o Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

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

 

Daybreak Oil and Gas, Inc. (OCT PINK:DBRM), a Washington corporation (“Daybreak” or the “Company”), will be relying on the Securities and Exchange Commission’s Order under Section 36 of the Securities Exchange Act of 1934 Granting Exemptions From Specified Provisions of the Exchange Act and Certain Rules Thereunder, issued March 4, 2020 (Release No. 34-88318) to delay the filing of its Annual Report on Form 10-K for the year ended February 29, 2020 (the “Report”) due to circumstances related to COVID-19. In particular, COVID-19 has caused disruptions in the Company’s normal interactions with its auditors. This has, in turn, delayed the Company’s ability to complete its audit and prepare the Report. Notwithstanding the foregoing, the Company expects to file the Report no later than July 13, 2020 (which is 45 days from the Report’s original filing deadline of May 29, 2020).

 

In light of the current COVID-19 pandemic, the Company will be including the following Risk Factor in its Report:

 

The Company is unable to predict the full impact of COVID-19 on its business. The occurrence of an uncontrollable event such as the COVID-19 pandemic may negatively affect our operations. A pandemic typically results in social distancing, travel bans and quarantine, and this may limit access to our facilities, customers, management, support staff and professional advisors. These factors, in turn, may not only impact our operations, financial condition and demand for our crude oil but our overall ability to react timely to mitigate the impact of this event. Also, it may hamper our efforts to comply with our filing obligations with the Securities and Exchange Commission.

 

 

 

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.

 

 

DAYBREAK OIL AND GAS, INC.

 

By: /s/ JAMES F. WESTMORELAND  

James F. Westmoreland, President and Chief Executive Officer

 

Date: May 28, 2020

 

 

 

 

 

 

 

 

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