Attached files
| file | filename |
|---|---|
| EX-99.1 - EXHIBIT 99.1 - Sinorama Corp | tv500901_ex99-1.htm |
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): August 14, 2018 (August 7, 2018)
SINORAMA CORPORATION
(Exact name of registrant as specified in its charter)
| Florida | 000-55744 | 81-3305510 |
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
La Plaza Swatow, Office 518
P.O. Box 008, 998 Blvd. Saint-Laurent
Montreal, QC H2Z 9Y9
(Address of principal executive offices)
Registrant’s telephone number, including area code: +1 (514) 866-6888
Not Applicable
(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:
| ¨ | 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) |
Indicate by check mark whether the registrant is an emerging growth company as defined in 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 x
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 8.01 | Other Events. |
As previously reported, on July 24, 2018, the Office de la protection du consommateur (“OPC”), the oversight authority for travel agencies in Québec, appointed PricewaterhouseCoopers LLP as a provisional administrator to Vacances Sinorama Inc. (“Vacances Sinorama”), the main operating subsidiary of Sinorama Corporation (the “Company”) in the province of Québec, to manage Vacances Sinorama’s accounts and business and terminate its travel agent activities in Québec. The OPC also informed Vacances Sinorama that it did not intend to renew Vacances Sinorama’s travel agent licence upon expiration on July 31, 2018 for failure to comply with the Travel Agents Act (Québec) relating to the management of client funds. Vacances Sinorama was given 10 days to respond.
On August 7, 2018, OPC maintained its decision not to renew the travel agent licence of Vacances Sinorama in the province of Québec. Vacances Sinorama will have 30 days to appeal the decision before the Administrative Tribunal of Québec.
The Company is assessing its means of defense and the possibility of contesting the OPC’s decision. Management of Vacances Sinorama has offered all of its cooperation and expertise to the OPC and the provisional administrator in order to ensure that all future travels are completed as planned.
Without the travel agent license, the financial position of Vacances Sinorama and the Company will be materially adversely affected.
On August 8, 2018, the Company issued a press release announcing decision of the OPC in Québec. A copy of the translation of the press release is attached hereto as Exhibit 99.1.
| Item 9.01 | Financial Statements and Exhibits. |
|
Exhibit Number |
Title of Document | |
| 99.1 | Translation of the press release, dated August 8, 2018, issued by Sinorama Corporation. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: August 14, 2018 | Sinorama Corporation | |
| By: | /s/ Jing Wenjia | |
| Name: | Jing Wenjia | |
| Title: | Chief Executive Officer | |