Statement of Beneficial Ownership (sc 13d)
May 21 2019 - 5:27PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
SCHEDULE
13D
Under
the Securities Exchange Act of 1934
(Amendment
No. ________)*
2050
Motors, Inc.
(Name
of Issuer)
Series
B Preferred
(Title
of Class of Securities)
90214L106
(CUSIP
Number)
25
N River Lane, Suite 2050, Geneva, IL 60134
(Name,
Address and Telephone Number of Person
Authorized
to Receive Notices and Communications)
May
15, 2019
(Date
of Event which Requires Filing of this Statement)
If
the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule
13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. [ ]
Note
:
Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7
for other parties to whom copies are to be sent.
*
The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect
to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided
in a prior cover page.
The
information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section
18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the Notes).
CUSIP No. 90214L106
|
13D
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Page
2
of 4 Pages
|
1.
|
NAMES
OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Vikram
Grover
|
2.
|
CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(see
instructions)
(a)
[ ]
(b)
[X]
|
3.
|
SEC
USE ONLY
|
4.
|
SOURCE
OF FUNDS (see instructions)
OO
|
5.
|
CHECK
BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ]
|
6.
|
CITIZENSHIP
OR PLACE OF ORGANIZATION
United
States
|
NUMBER
OF
SHARES
BENEFICIALLY OWNED BY
EACH
REPORTING
PERSON
WITH
|
7.
|
SOLE
VOTING POWER
400,000
|
8.
|
SHARED
VOTING POWER
|
9.
|
SOLE
DISPOSITIVE POWER
400,000
|
10.
|
SHARED
DISPOSITIVE POWER
|
11.
|
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
400,000
|
12.
|
CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(see
instructions) [ ]
|
13.
|
PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
100%
|
14.
|
TYPE
OF REPORTING PERSON (see instructions)
IN
|
CUSIP No. 90214L106
|
13D
|
Page
3
of 4 Pages
|
Item
1. Security and Issuer.
This
Schedule 13D relates to 1% Cumulative Convertible Series B Preferred Shares of 2050 Motors, Inc. The address of the principal
executive office of 2050 Motors, Inc. is 25 N River Lane, Suite 2050, Geneva, IL 60134. Its phone number is (630) 708-0750
and website is
www.2050motors.com.
Item
2. Identity and Background.
This
Schedule 13D is filed by Vikram Grover whose address is 1340 Brook St. Unit M, St Charles, IL 60174.
During
the last five years, none of the Reporting Persons (i) has been convicted in a criminal proceeding (excluding traffic violations
or similar misdemeanors) or (ii) was a party to a civil proceeding of a judicial or administrative body of competent jurisdiction
and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting
or mandating activities subject to, federal or state securities laws or finding any violations with respect to such laws.
Item
3. Source or Amount of Funds or Other Consideration.
On
May 5, 2019, 2050 Motors, Inc. entered into a Securities Purchase Agreement between 2050 Motors and Vikram Grover (the “Purchase
Agreement”) pursuant to which 2050 Motors agreed to purchase, subject to the terms and conditions set forth therein, 210,000,000
common shares of Peer to Peer Network (the “Peer to Peer Shares”) for a total purchase price of $483,000.00. The source
of consideration for the Peer to Peer Shares was 400,000 1% Cumulative Convertible Series B Preferred Shares of 2050 Motors, Inc.
The transaction closed on May 15, 2019.
Item
4. Purpose of Transaction.
Investment
Item
5. Interest in Securities of the Issuer.
Officer,
Director, Active
Item
6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.
Contract
executed between 2050 Motors, Inc. and Vikram Grover on May 5, 2019 to acquire 210,000,000 common shares of Peer to Peer Network
from Vikram Grover.
Lock-Up
Agreement between 2050 Motors, Inc. and Vikram Grover for all classes of Preferred Shares owned by the investor for a period of
one-year.
Item
7. Material to Be Filed as Exhibits.
Securities
Purchase Agreement (“SPA”) dated May 5, 2019.
Lock-Up
Agreement dated May 16, 2019.
CUSIP No. 90214L106
|
13D
|
Page
4
of 4 Pages
|
SIGNATURE
After
reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true,
complete and correct.
|
COMPANY
NAME
|
|
|
|
/s/
Vikram Grover, CEO
|
|
Vikram
Grover
|