Item 8.01 Other Events.
On March 25, 2020,
the Securities and Exchange Commission announced that it is extending the filing periods covered by its previously enacted conditional
reporting relief for certain public company filing obligations under the federal securities laws. Specifically, the Securities
and Exchange Commission’s Order under Section 36 of the Securities Exchange Act of 1934 Granting Exemptions From Specified
Provisions of the Exchange Act and Certain Rules Thereunder dated March 25, 2020 (Release No. 34-88465) (the “Order”)
extends the filing date of the Quarterly Report on Form 10-Q for the period ended March 31, 2020 (the “Report”) due
to the circumstances related to COVID-19. Health Discovery Corporation (the “Company”) will be relying on this Order
and intends to comply within the timeframe authorized by the Order. In particular, COVID-19 has caused severe disruptions in transportation
and limited access to the Company’s facilities, resulting in limited support from its staff and professional advisors. This
has, in turn, delayed the Company’s ability to complete its audit and prepare the Report. Notwithstanding the foregoing,
the Company expects to file the Report as soon as possible.
In light of the current
COVID-19 pandemic, the Company will be including the following disclosure in the Management’s Discussion and Analysis of
Financial Condition Section in its Report:
The recent coronavirus
(COVID-19) outbreak could adversely affect our financial condition and results of operation.
In December 2019,
a novel strain of coronavirus (COVID-19) was reported to have surfaced in Wuhan, China. The impact of the outbreak of COVID-19
on the businesses and the economy in the United States and the rest of the world is unknown but does appear to be significant.
The extent to which the COVID-19 outbreak will impact business and the economy is highly uncertain and cannot be predicted. Accordingly,
we cannot predict the extent to which our financial condition and results of operations will be affected.
As previously disclosed,
Health Discovery Corporation (the “Company”) stated that it intended to schedule a shareholder meeting as soon as possible,
but no later than June 30, 2020. On March 20, 2020, the Company’s board of directors (the “Board”) decided to
hold the annual meeting of shareholders on May 27, 2020. On May 12, 2020, the Company posted information for this annual meeting
of shareholders on the Company website, www.healthdiscoverycorp.com, under the section titled “Shareholder Meeting Information.”
As previously disclosed,
on March 2, 2020, two shareholders of the Company, William F. Quirk, Jr. (“Quirk”) and Cindy Bear (“Bear”),
filed a lawsuit against the Company alleging misconduct by the Company and its directors. On March 5, 2020, the Court denied Bear
and Quirk’s motion for a temporary restraining order.
The Court scheduled
a hearing on Bear and Quirk’s motion for a preliminary injunction on March 27, 2020. The week before the hearing, Fox Rothschild
LLP, counsel for Bear and Quirk, agreed to continue and reschedule the hearing. No hearing date has since been rescheduled.
On May 5, 2020, Fox
Rothschild LLP moved to withdraw as counsel for Bear and Quirk abruptly and without notice. On May 13, 2020, the Court entered
an order granting the law firm’s withdrawal as counsel. As of May 13, 2020, Bear and Quirk are representing themselves pro
se.
The Company will continue
to refute the baseless claims brought by Bear and Quirk, and is evaluating its rights including, but not limited to, recoupment
from Bear and Quirk of the Company’s attorneys’ fees and costs incurred in doing so.