UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington, D.C.
20549
FORM
6-K
REPORT
OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR
15d-16
UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the
month of April
2020
Commission File
Number: 000-52145
DIGATRADE FINANCIAL CORP
(Translation of
registrant's name into English)
1500
West Georgia Street, Suite 1300
Vancouver,
BC V6G-2Z6
(Address of
principal executive offices)
Indicate by check
mark whether the registrant files or will file annual reports under
cover Form 20-F or Form 40-F.
[
X ] Form
20-F [ ] Form 40-F
Indicate by check
mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(1): [ ]
Indicate by check
mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(7): [ ]
Indicate by check
mark whether by furnishing the information contained in this Form,
the registrant is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange
Act of 1934.
Yes
[ ]
No [ x ]
If
"Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b):
000-52145
SUBMITTED HEREWITH
UPDATE:
COVID-19 RESPONSE SEC SECTION 36 (release No.
34-88318)
Vancouver,
British Columbia / ACCESSWIRE / April 29, 2020 -
DIGATRADE FINANCIAL CORP (OTC.PK:
DIGAF),
www.DigatradeFinancial.com a
financial technology services company, and its subsidiary Securter
Systems Inc.,
provides today an update that on March 4, 2020, the U.S.
Securities and Exchange Commission (the “Commission”) issued an
order under Section 36 (Release No. 34-88318) of the Securities
Exchange Act of 1934, as amended (“Exchange Act”), granting
exemptions from specified provisions of the Exchange Act and
certain rules thereunder (the “Order”). The Order provides that a
registrant 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.
Digatrade Financial
Corp (the “Company”) is furnishing this Current Report on Form 6-K
to indicate its reliance on the Order in connection with the
Company’s Annual Financial Statements under Form 20-F for the year
ended December 31, 2019 as a result of the circumstances set forth
below.
As
previously announced through a press release on April 8, 2020 the
Company is currently in the planning and research stages for the
development of our Securter Application as a secure online payment
protocol that reduces credit card fraud. Additionally, due to the
Company’s key internal accounting personnel responsible for
assisting the Company in the preparation of its financial
statements now being required to work remotely because of COVID-19,
the Company has been unable to timely provide to its auditors and
accountants the financial records to provide consent. These
unforeseen circumstances have resulted in the Company being unable
to timely file an accurate Annual Financial Statement on Form 20-F
for its year-ended December 31, 2019 by the prescribed date without
undue hardship and expense to the Company. Accordingly, in reliance
upon the Order, the Company expects to file its Annual Financial
Statements on Form 20-F no later than 45 days after the due date of
filing of April 30, 2020, unless the COVID-19 circumstances do not
change and cause a further delay, in which case we will file for an
extension and amendment to this Current Report on form
6-K.
The
Company is supplementing the risk factors previously disclosed in
the Company’s Annual Financial Statements on Form 20-F for the year
ended December 31, 2018 and its subsequent Quarterly Reports on
Form 6-K with the following risk factor:
Our business may suffer from the severity or longevity of the
COVID-19 Global Outbreak.
The
COVID-19 is currently impacting countries, communities, supply
chains and markets, as well as the global financial markets. To
date, COVID-19 has not had a material impact on the Company, other
than as set forth above. However, the Company cannot predict
whether COVID- 19 will have a material impact on our financial
condition and results of operations due to understaffing,
disruptions in government spending, among other factors. In
addition, at this time we cannot predict the impact of COVID-19 on
our ability to obtain financing necessary for the Company to fund
its working capital requirements. In most respects, it is too early
in the COVID-19 pandemic to be able to quantify or qualify the
longer-term ramifications on our business, our customers and/or our
potential investors.
Further
information will be made available as it materializes.
ABOUT DIGATRADE
DIGATRADE
is a Financial Technology “fintech” services company. Digatrade is
developing various payment industry process improvements that are
proprietary. They represent a next generation platform for security
and convenience in a variety of modalities, including online credit
card payment system, globally, through its new subsidiary; Securter
Systems, Inc. Digatrade is targeting numerous fintech service
licensing vehicles, also including blockchain derived applications.
Digatrade Financial Corp. is located in Vancouver, British
Columbia, and publicly listed on the OTC.PK under the trading
symbol DIGAF. DIGAF is a reporting issuer in the Province of
British Columbia, Canada with the British Columbia Securities
Commission "BCSC" and in the United States with the Securities
Exchange Commission "SEC".
ABOUT SECURTER
Securter Systems, Inc. is a subsidiary of
Digatrade Financial Corp. that is developing proprietary,
patent-pending credit card payment platform innovations to increase
the security of online credit card payment processing, globally.
Securter technology reduces immense losses by financial
institutions and merchants that arise from fraudulent credit card
use. Securter technology also protects cardholder privacy by
eliminating the need to distribute credit card details to multiple
commercial 3rd
parties, where such information is
ordinarily stored, becoming vulnerable to theft or manipulation.
Securter technology can and will be integrated into complementary
payment methods and fintech protocols, including cryptocurrency and
other blockchain derivatives to come for independent platforms.
Securter has internal R&D capability and management as well as
external fintech business relationships to support Digatrade’s
overall business mission.
CORPORATE
CONTACT INFORMATION:
Digatrade Financial
Corp
1500
West Georgia Street, 1300
Vancouver, BC V6G
2Z6 Canada
Tel:
+1(604) 200-0071
Fax:
+1(604) 200-0072
www.DigatradeFinancial.com
Investors@Digatrade.com
Forward-Looking Information
This press release contains certain “forward-looking information”.
All statements, other than statements of historical fact, that
address activities, events or development that the Company
believes, expects or anticipates will or may occur in the future
constitute forward-looking information. This forward-looking
information reflects the current expectations or beliefs of the
company based on information currently available to the Company.
Forward-looking information is subject to a number of significant
risks and uncertainties and other factors that may cause the actual
results of the Company to differ materially from those discussed in
the forward-looking information, and even if such actual results
are realized or substantially realized, there can be no assurance
that they will have the expected consequences to, or effects on the
Company. Factors that could cause actual results or events to
differ materially from current expectations include, but are not
limited to, the possibility of unanticipated costs and expenses.
Technology development may be delayed indefinitely until the
Company is able to raise the necessary capital. Any forward-looking
information speaks only as of the date on which it is made and,
except as may be required by applicable securities laws, the
company disclaims any intent or obligation to update any
forward-looking information whether as a result of new information,
future events or results or otherwise. Although the Company
believes that the assumptions inherent in the forward-looking
information are reasonable, forward-looking information is not a
guarantee of future performance and accordingly undue reliance
should not be put on such information due to the inherent
uncertainty therein.
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, thereunto duly authorized.
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Digatrade
Financial Corp
(Registrant)
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Date: April 29,
2020
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By:
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/s/
Brad J.
Moynes
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Brad J.
Moynes
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CEO
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