Item 8.01 Other Events.

The Company has had diminishing operating revenue as well as limited cash and cash equivalents and has been incurring operating losses. Furthermore, the current global COVID-19 pandemic has added even greater pressure on the Company's ability to operate efficiently. In connection with the foregoing, the Company is undergoing a reduction in force aimed at cutting costs and attempting to address operational challenges. Consequently, as part of its reduction in force, the Company has reduced its headcount by approximately 12 employees. The Company understands how hard these changes are for the employees concerned and is committed to helping them through this difficult time.

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