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): April 16, 2020
JANONE INC.
(Exact Name of Registrant as Specified in Charter)
|
Nevada |
000-19621 |
41-1454591 |
|
(State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
|
325 E. Warm Springs Road, Suite 102 Las Vegas, NV 89119 |
|
(Address of Principal Executive Offices and Zip Code) |
Registrant’s telephone number, including area code: 702-997-5968
(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 (see General Instruction A.2. below):
|
☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
|
Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on which registered |
|
Common Stock, $0.001 par value per share |
|
JAN |
|
The NASDAQ Stock Market LLC (The NASDAQ Capital Market) |
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 5.02 |
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On April 6, 2020, and in response to the impacts of the COVID-19 virus and public health crisis on the business of JanOne Inc. (the “Company”), the Company disclosed that in an effort to manage its financial position and further preserve financial flexibility and longevity, it has temporarily closed its corporate office and call center, and idled all of its recycling processing centers in the United States and Canada. In support of these actions, on April 16, 2020, Tony Isaac, the Company’s Chief Executive Officer, Eric Bolling, the Company’s President and Chairman of the Board of Directors, Virland A. Johnson, the Company’s Chief Financial Officer, and other members of management have agreed to defer one week’s pay each month starting in April 2020 and continuing through June 2020. At such time, the Company’s management intends to review the then current status of the Company’s operations in light of the COVID-19 virus and public health crisis and determine whether it is commercially prudent for the Company and its stockholders to resume such payments.
2
Pursuant to the requirements of the Securities Exchange Act of 1934, we have duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|
JanOne Inc. |
|
|
|
|
|
By: |
/s/ Tony Isaac |
|
|
Name: Tony Isaac |
|
|
Title: Chief Executive Officer |
Dated: April 22, 2020
3