In
accordance with the Securities and Exchange Commission Order Under Section 36 of the Securities Exchange Act of 1934 Modifying
Exemptions from the Reporting and Proxy Delivery Requirements for Public Companies, SEC Release No. 34-88465, dated March 25,
2020 (the “Order”), Blink Charging Co. (the “Company”) will be relying on the relief provided by the Order
to delay the filing of its Annual Report on Form 10-K for the fiscal year ended December 31, 2019 (the “Annual Report”)
by up to 45 days. The Company expects to file the Annual Report on or before May 14, 2020. The Company’s operations and
business have experienced disruption due to the unprecedented conditions surrounding the recent global outbreak of COVID-19. The
Company has been following the recommendations of local government and health authorities to minimize exposure risk for its employees,
including the temporary closures of its offices and having employees work remotely. As a result, the Company will not be able to timely review and prepare the Company’s financial statements
for the 2019 fiscal year.
The
Company is supplementing the risk factors previously disclosed in its most recent periodic reports filed under the Securities
Exchange Act of 1934, as amended, with the following risk factor:
We
have global operations and face risks related to health crises that could negatively impact our financial condition.
Our
business, the businesses of our customers and the businesses of our charging equipment suppliers could be materially and adversely
affected by the risks, or the public perception of the risks, related to a pandemic or other health crisis, such as the recent
outbreak of the novel coronavirus COVID-19. A significant component supplier of our Blink IQ 200 charging station is located in
Taiwan and it, in turn, sources assembly parts from China. A significant outbreak of contagious diseases in the human population
could result in a widespread health crisis that could adversely affect the economies and financial markets of many countries,
resulting in an economic downturn that could affect demand for our electric vehicle supply equipment and related networked services
and likely impact our operating results. Such events could result in the complete or partial closure of our Taiwan supplier’s
manufacturing facility, the interruption of our distribution system, temporary or long-term disruption in our supply chains from
Asia and other international suppliers, disruptions or restrictions on our employees to work or travel, delays in the delivery
of our charging stations to customers, and potential claims of exposure to diseases through contact with our charging stations.
If the impact of an outbreak continues for an extended period, it could materially adversely impact our supply chain, access to
capital and the growth of our revenues.
Forward-Looking
Statements
This
report contains forward-looking statements within the meaning of federal securities laws. Forward-looking statements include statements
with respect to the Company’s beliefs, plans, goals, objectives, expectations, anticipations, assumptions, estimates, intentions,
and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond the Company’s
control, and which may cause its actual results, performance or achievements to be materially different from future results, performance
or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact
are statements that could be forward-looking statements. For example, forward-looking statements include statements regarding
the projected impact of the recent outbreak of COVID-19 on the Company’s business, operating results, cash flows and/or
financial condition. The risks and uncertainties referred to above include, but are not limited to, the severity and duration
of the COVID-19 pandemic, the pandemic’s impact on the U.S. and global economies, the effect of the pandemic on the Company’s
supply chain, the Company’s ability to implement cost containment and business recovery strategies, the adverse effects
of the pandemic on the Company’s business or the market price of the Company’s common stock, U.S. and foreign governmental
responses to the pandemic, and other risks detailed from time to time in the Company’s filings with the Securities and Exchange
Commission. These risks could cause actual results to differ materially from those expressed in any forward-looking statements
made by, or on behalf of, the Company. Unless otherwise required by applicable law, the Company assumes no obligation to update
any forward-looking statements, and expressly disclaims any obligation to do so, whether as a result of new information, future
events or otherwise.