Current Report Filing (8-k)
March 30 2020 - 5:29PM
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): March 30, 2020
CHINA RECYCLING ENERGY CORPORATION
(Exact name of registrant as specified in charter)
Nevada
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001-34625
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90-0093373
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(State or other jurisdiction
of incorporation)
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(Commission
File Number)
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(IRS Employer
Identification No.)
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4/F, Tower
C
Rong Cheng Yun Gu Building
Keji 3rd Road, Yanta District
Xi’an City, Shaanix Providence, China
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710075
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(Address of principal executive offices)
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(Zip Code)
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Registrant’s telephone number, including area code: (86-29)
8765-1097
N/A
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(Former name or former address, if changed since last report)
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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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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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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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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, par value $0.001 per share
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CREG
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Nasdaq Stock 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. ☐
Section 5. Corporate Governance and Management
Item 5.02
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
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The Current Report on
Form 8-K dated March 5, 2020 filed with the Securities and Exchange Commission on March 11, 2020 (the “Report”) described
the appointment of Zhongli Liu to the Board of Directors of the Company. Included in the information provided was a description
of Mr. Liu’s Director Agreement pursuant to which the Company will compensate Mr. Liu for his services. The Report erroneously
described such compensation as 50,000 RMB per month quarter. Section 2.2 of the Director Agreement, which is attached to the Report
as Exhibit 10.29, provides that Mr. Liu will be paid a fee of RMB 50,000 a year in cash for Director Services, service as Chairman
of the Audit Committee and member of the Nominating and Corporate Governance Committee. The fee shall be payable to the Director
at the end of each quarter in equal installments, commencing March 6, 2020.
On March 4, 2020, pursuant to Section 36 of
the Securities Exchange Act of 1934, the Securities and Exchange Commission issued Release No. 34-88318 (the “Order”)
granting exemptions to registrants subject to the reporting requirements of the Exchange Act Section 13(a) or 15(d) due to circumstances
related to the coronavirus disease 2019 (COVID-19).
The Company is furnishing this Current Report
on Form 8-K to indicate its reliance on the Order in connection with the Company’s Annual Report on Form 10-K for the year
ended December 31, 2019.
The Company’s headquarters and operations
are located in the City of Xi’an, Shaan Xi Province, China. Due to the ongoing outbreak of the COVID-19, which was first
reported in December 2019 in Wuhan, China, the Chinese government initiated travel restrictions and mandatory quarantines to control
the spread of COVID-19 within China. These actions taken by the Chinese government have prevented the Company's accounting department
from completing the financial data and related materials necessary for the 2019 audit to be completed in a timely manner. As a
result, the Company will be unable to file the Form 10-K by March 30, 2020.
The Company
expects to file its Annual Report on Form 10-K within 45 days after March 30, 2020.
1
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
thereunto duly authorized.
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CHINA RECYCLING ENERGY CORPORATION
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Date: March 30, 2020
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By:
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/s/ Guohua Ku
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Guohua Ku
Chairman and Chief Executive Officer
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