SCHEDULE 13D
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1
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NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
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JERRY KROLL
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
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(a) [ ]
(b) [ ]
Not applicable
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3
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SEC USE ONLY
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4
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SOURCE OF FUNDS (See Instructions)
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PF
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5
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CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E)
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Not applicable
[ ]
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6
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CITIZENSHIP OR PLACE OF ORGANIZATION
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Canada
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NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
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7
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SOLE VOTING POWER
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10,957,728 shares of common stock
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(1)
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8
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SHARED VOTING POWER
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Nil
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9
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SOLE DISPOSITIVE POWER
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10,957,728 shares of common stock
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(1)
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10
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SHARED DISPOSITIVE POWER
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Nil
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11
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
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10,957,728 shares of common stock
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(1)
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12
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)
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Not applicable
[ ]
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13
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
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43.4%
(2)
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14
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TYPE OF REPORTING PERSON (See Instructions)
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IN
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Notes:
(1)
These 10,957,728 shares consist of (i) 3,587,500 shares of common stock registered directly to Jerry Kroll, (ii) 5,000,000 shares of common stock registered to Ascend Sportmanagement Inc., which Mr. Kroll has discretionary voting and investment authority over securities held by Ascend Sportmanagement Inc., (iii) 87,500 shares of common stock issuable upon exercise of warrants registered directly to Mr. Kroll, (iv) 2,282,728 shares of common stock issuable upon exercise of stock options granted to Mr. Kroll.
(2)
Based on 25,265,726 common shares of the Issuer's common stock issued and outstanding as July 20, 2018.
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Item 1.
Security and Issuer
This statement relates to the voting common stock, without par value, of Electrameccanica Vehicles Corp., a British Columbia, Canada corporation (the "Issuer"). The Issuer maintains its principal executive office at 102 East 1
st
Avenue, Vancouver, British Columbia, Canada, V5T 1A4.
Item 2.
Identity and Background
Name:
This statement is filed by Jerry Kroll (the "Reporting Person").
Residence or Business Address:
Mr. Kroll’s address is:
102 East 1
st
Avenue
Vancouver, British Columbia, Canada, V5T 1A4
Present Principal Business or Occupation:
Mr. Kroll's principal occupation is acting as the Chief Executive Officer and a director of the Issuer.
Place of Organization or Citizenship:
Mr. Kroll is a Canadian citizen.
Criminal Proceedings:
During the last five years, the Reporting Person has not been convicted in any criminal proceeding (excluding traffic violations or similar misdemeanors).
Civil Proceedings:
During the last five years, the Reporting Person has not been a party to any civil proceeding of a judicial or administrative body of competent jurisdiction where, as a result of such proceeding, there was or is 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 violation with respect to such laws.
Item 3.
Source and Amount of Funds or Other Considerations
On July 20, 2018, the Issuer cancelled 22,727,272 stock options previously granted to Mr. Kroll.
Item 4.
Purpose of Transaction
The Reporting Person acquired the beneficial ownership of the securities of the Issuer as described above in Item 3 as part of the Reporting Persons’ overall personal investment strategy.
Subject to all relevant securities law restrictions, the Reporting Person may acquire or dispose of securities of the Issuer from time to time in the open market or in privately negotiated transactions with third parties, subject to and depending upon prevailing market conditions for such securities.
Except as otherwise disclosed herein, the Reporting Person has no current plans or proposals that relate to or would result in:
(a)
the acquisition by any person of additional securities of the Issuer, or the disposition of securities of the Issuer;
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3
(b)
any extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the Issuer or any of its subsidiaries;
(c)
a sale or transfer of a material amount of the assets of the Issuer or any of its subsidiaries;
(d)
any change in the present board of directors or management of the Issuer, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the board;
(e)
any material change in the present capitalization or dividend policy of the Issuer;
(f)
any other material change in the Issuer's business or corporate structure including, but not limited to, if the Issuer is a registered closed-end investment company, any plans or proposals to make any changes in its investment policy for which a vote is required by Section 13 of the United States
Investment Company Act of 1940
;
(g)
changes in the Issuer's charter, bylaws or instruments corresponding thereto or other actions which may impede acquisition of control of the Issuer by any person;
(h)
causing a class of securities of the Issuer to be delisted from a national securities exchange or to cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association;
(i)
a class of equity securities of the Issuer becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Act; or
(j)
any action similar to any of those enumerated above.
Item 5.
Interest in Securities of the Issuer
The filing of this statement by the Reporting Person shall not be construed as an admission that the Reporting Person is, for the purposes of Section 13(d) or 13(g) of the Act, the beneficial owner of any securities covered by the statements herein.
(a)
For the purposes of this statement, the Reporting Person is reporting herein that, as of July 20, 2018, it was the beneficial owner of 10,957,728 shares of the Issuer's common stock, representing approximately 43.4% of the Issuer's issued and outstanding common stock.
(b)
For the purposes of this statement, the Reporting Person is reporting herein that, as of July 20, 2018, the Reporting Person had the sole power to vote or to direct the voting of, or to dispose or to direct the disposition of 10,957,728 shares of the Issuer' common stock, representing approximately 43.4% of the Issuer's common stock.
(c)
As of the date hereof, and within the sixty day period prior thereto, no transactions involving the Issuer's equity securities had been engaged in by the Reporting Person other than as disclosed herein.
(d)
As of the date hereof, to the best knowledge and belief of the undersigned, except as otherwise reported herein, no person other than the Reporting Person had the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein.
(e)
Not applicable.
Item 6.
Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer
Except as disclosed herein, the Reporting Person does not have any contract, arrangement, understanding or relationship with respect to securities of the Issuer including, but not limited to, transfer or voting of any of the securities, finder's fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or loss, or the giving or withholding of proxies, the Reporting Person has not pledged securities of the Issuer nor are the securities of the Issuer held by the Reporting Person subject to a contingency, the occurrence of which would give another person voting power or investment power over such securities.
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Item 7.
Material to Be Filed as Exhibits
Not applicable
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.
Dated: April 11, 2019
/s/ Jerry Kroll
Name: Jerry Kroll