Current Report Filing (8-k)
May 14 2019 - 2:28PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 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): April 15, 2019
2050
MOTORS, INC.
(Exact
name of Registrant as specified in its Charter)
California
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001-13126
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83-3889101
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(State
or other jurisdiction
of incorporation)
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(Commission
File No.)
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(IRS
Employer
Identification No.)
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1340
Brook Street, Unit M, St. Charles, Illinois 60714
(Address
of principal executive offices)
(630)
708-0750
(Registrant’s
Telephone Number)
(Former
name or 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 (see General Instruction A.2. below):
[ ]
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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[ ]
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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[ ]
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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[ ]
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR
230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2) [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 [X]
2050
Motors, Inc. is referred to herein as “we”, “us”, or “us”
Item
3.03 Material Modification to Rights of Security Holders
On
April 8, 2019, our Board of Directors approved an amendment to our existing Series A Preferred Stock to set its par value to $0.0001
(versus nil previously) and establish an annual dividend of $0.01 per share (versus none previously) in order to comply with business
rules in the State of California where the Company is incorporated. All other rights and terms of the Series A Preferred Stock
remain unchanged. Each Series A Preferred Share remains convertible into one common share and has 50 votes on all matters requiring
a shareholder vote. Three (3) million Series A Preferred Shares remain issued, outstanding and authorized. Our Certificate of
Determination for the Series A Preferred Shares was approved and filed by the Secretary of State of California on April 15, 2019,
and such notice was received by the Company via regular mail on May 14, 2019.
On
April 6, 2019, our Board of Directors approved the creation of a new class of Series B Preferred Stock with a par value
of $0.0001. Each Series B Preferred Share is convertible into 1,000 common shares, has 1,000 votes on corporate matters requiring
a shareholder vote, and has an annual dividend of $0.01 per share in order to comply with business rules in the State of California
where the Company is incorporated. A total of six (6) million Series B Preferred Shares were authorized, with none issued and
outstanding at the time of filing or at this time. Our Certificate of Determination for the Series B Preferred Shares was approved
and filed by the Secretary of State of California on April 15, 2019, and such notice was received by the Company via regular mail
on May 14, 2019.
Item
9.01. Exhibits
(a) Exhibits. The following exhibit is filed with this Current
Report on Form 8-K:
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.
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2050
MOTORS, INC.
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Date:
May 14, 2019
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By:
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/s/
Vikram Grover
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Vikram
Grover
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Chief
Executive Officer
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