VYEY Victory Oilfield Tech Inc (PK)

On March 25, 2020, the U.S. Securities and Exchange Commission (the “Commission”) issued orders under Section 36 (Release No. 34-88465) of the Securities Exchange Act of 1934 (“Exchange Act”) granting exemptions from specified provisions of the Exchange Act and certain rules thereunder (the “Order”). The Order provides that a registrant (as defined in Exchange Act Rule 12b-2) subject to the reporting requirements of Exchange Act Section 13(a) or 15(d), and any person required to make any filings with respect to such a registrant, is exempt from any requirement to file or furnish materials with the Commission under Exchange Act Sections 13(a), 13(f), 13(g), 14(a), 14(c), 14(f), 15(d) and Regulations 13A, Regulation 13D-G (except for those provisions mandating the filing of Schedule 13D or amendments to Schedule 13D), 14A, 14C and 15D, and Exchange Act Rules 13f-1, and 14f-1, as applicable, where certain conditions are satisfied.

Victory Oilfield Tech, Inc. (the “Company”) is furnishing this Current Report on Form 8-K to indicate its reliance on the Order in connection with the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2020 (the “Quarterly Report”) as a result of the circumstances set forth below.

Due to the national health crisis, both the Company’s headquarters and the headquarters of its auditors are located in areas of the United States that were on “lock-down” orders or “shelter in place” recommendations. Because the audit personnel are now working remotely, as our accounting personnel, this has slowed everyone’s workflow and the Company’s ability to complete its audit. As a result of the travel and work limitations stemming from the COVID-19 pandemic, the Company is unable to complete financial statements and records that it needs to permit the Company to file a timely and accurate Quarterly Report by the prescribed date. The Company currently expects to file the Quarterly Report no later than June 29, 2020, which is 45 days after the Quarterly Report’s original filing deadline.