Item 8.01 Other Information
Due
to the outbreak of, and local, state and federal governmental responses to, the COVID-19 coronavirus pandemic, American International
Holdings Corp. (the “Company”) is filing this current report on Form 8-K to avail itself of an extension to
file its Annual Report on Form 10-K for the year ended December 31, 2019 (the “Annual Report”), originally
due on March 30, 2020. Specifically, the Company is relying on an order issued by the Securities and Exchange Commission (the
“SEC”) on March 25, 2020 (which extended and superseded a prior order issued on March 4, 2020), pursuant to
Section 36 of the Securities Exchange Act of 1934, as amended (Release No. 34-88465)(the “Order”), regarding
exemptions granted to certain public companies. The Order allows a registrant up to an additional 45 days after the original due
date of certain reports required to be filed with the SEC if a registrant’s ability to file such report timely is affected
due to COVID-19.
The
Company’s operations and business have experienced disruptions due to the unprecedented conditions surrounding the COVID-19
pandemic spreading throughout the United States and the world. These disruptions include, but are not limited to: office closures
and the unavailability of key Company personnel required to prepare the Company’s financial statements for the year ended
December 31, 2019 due to suggested, and mandated, social quarantining and work from home orders. The Company has also been delayed
in preparing the Annual Report due to delays in obtaining information from third parties who have similarly been unavailable and/or
have not had sufficient time to complete the items requested.
As
such, the Company will be relying on the Order and will be making use of the 45-day grace period provided by the Order to delay
filing of its Annual Report. The Company plans to file its Annual Report by no later than May 14, 2020, 45 days after the original
due date of its Annual Report.
The
Company is supplementing its risk factors previously disclosed in the Company’s Annual Report on Form 10-K for the year
ended December 31, 2018 with the following risk factors:
An
occurrence of an uncontrollable event such as the COVID-19 pandemic is likely to negatively affect, and has to date negatively
affected, our operations.
The
occurrence of an uncontrollable event such as the COVID-19 pandemic is likely to negatively affect our operations. A pandemic
typically results in social distancing, travel bans and quarantine, and the effects of, and response to, the COVID-19 pandemic
has limited access to our facilities, customers, management, support staff and professional advisors. These, in turn, have not
only negatively impacted our operations, financial condition and demand for our services, but our overall ability to react timely
to mitigate the impact of this event. We anticipate that our first quarter and second quarter 2020 financial results, at a minimum,
will be significantly negatively affected by COVID-19; however, the full effect on our business and operation is currently unknown.
Our
business may suffer from the severity or longevity of the Coronavirus/COVID-19 Global Outbreak
The
demand for our services relies upon, among other things, (a) customers being able to, and being willing to, visit our health,
wellness and beauty medical spas and our ability to keep our medical spas open for business, and (b) our ability to perform construction
services for construction clients. The unwillingness of individuals to congregate in large groups, visit retail business or travel
outside of their homes will, and has to date, had a negative effect on our operations. Additionally, government mandated ‘stay-at-home’
and similar orders have to date, and may in the future, prevented us from staffing our spas and construction services, and prohibited
us from operating altogether. Loss of available employees due to health concerns in the future may also limit our ability to operate.
Economic recessions, including those brought on by the COVID-19 Outbreak may have a negative effect on the demand for our services
and our operating results. We have also experienced delays due to the COVID-19 Outbreak in receiving products and supplies which
we need to operate. All of the above may be exacerbated in the future as the COVID-19 Outbreak and the governmental responses
thereto continues. All of the above may in the future cause, and have to date caused, a material adverse effect on our operating
results.
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 I, Item 1A. Risk Factors and 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.