8-K 1 form8k.htm CURRENT REPORT
UNITED STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington, D.C. 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) September 26, 2011
Ecologic
Transportation, Inc.
(Exact
name of registrant as specified in its charter)
|
Nevada |
333-139045 |
26-1875304 |
|
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
|
1327 Ocean Avenue, Suite B, Santa Monica, California |
90401 |
|
(Address of principal executive offices) |
(Zip Code) |
Registrant’s telephone number, including area code (310) 899-3900
N/A
(Former
name or former 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:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c))
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
The Board of Directors of Ecologic Transportation, Inc. appointed William B. Nesbitt, 71, to the position of President and Chief Operating Officer effective Monday September 26, 2011 following his acceptance of such positions. Mr. Nesbitt also accepted a seat on the Company’s Board of Directors on the same date. The Company has not yet entered into an employment agreement with Mr. Nesbitt. He founded Olin’s Rent A Car in New York City, the predecessor to Alamo Rent A Car. At Alamo Rent A Car, Mr. Nesbitt was a principal managing Alamo’s development and expansion for 18 years. Since the sale of Alamo in 1999, Mr. Nesbitt has been a principal in Nesbitt Associates, LLC and has implemented several successful company startup and acquisition projects. He has a BS degree from Cornell University.
A copy of the press release announcing this management change is filed as Exhibit 99.1 hereto and is incorporated herein by reference. There has been a change to the press release relating to the effective date for Mr. Nesbitt’s appointment.
Item 9.01 Financial Statements and Exhibits.
(c) Exhibits.
Exhibits 99.1 Press Release, dated September 22, 2011, issued by Ecologic Transportation, Inc.
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.
ECOLOGIC TRANSPORTATION, INC.
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/s/ Edward W Withrow III |
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|
Edward W Withrow III |
|
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Chairman |
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Dated: September 30, 2011 |
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FOR IMMEDIATE RELEASE Media Contact: Erin Davis
V.P., Marketing and Communication
erind@ecologictranspo.com
Investor Contact: Mark Bernhard
Capital Group Communications
mark@capitalgc.com
415.332.7200
ECOLOGIC TRANSPORTATION, INC.
EXPANDS SENIOR MANAGMENT FOR AGGRESSIVE GROWTH
Santa Monica, CA (September 22, 2011) – Ecologic Transportation, Inc. (“Ecologic Transportation” or the “Company”) (OTCBB: EGCT) announces today that it has made a significant move in its quest to accelerate its growth plan by teaming with William B. Nesbitt as its President & Chief Operating Officer effective September 21, 2011.
William B. Nesbitt founded Olin’s Rent A Car in NYC which subsequently moved to Miami, FL and eventually became Alamo Rent A Car. At Alamo Rent A Car, Mr. Nesbitt was a Principal and charged with overseeing the implementation of the company’s rapid expansion over the next 18 years. He oversaw the opening of over 60 locations in 2 years and, during his tenure at Alamo, grew revenues to $1.3 Billion Dollars from about $10 Million Dollars. Mr. Nesbitt stated, “I came to Ecologic Transportation with one goal and one goal only, to build another successful company.” Nesbitt adds, “The time could not be more perfect than now to build a car rental brand with a singular focus on environmentally friendly cars. I look forward to working with Bill Plamondon who I have been an admirer of as an industry competitor.”
Ecologic’s current management team and Board of Directors are excited for the addition of Mr. Nesbitt and his extensive business background and focus on growth. We believe that he is going to be an invaluable addition to the Ecologic team to drive our growth strategy. Chairman Edward Withrow says, “I’ve known Bill Nesbitt for over 14 years and he is an accomplished man that is driven by his desire to succeed.”
Bill Nesbitt will be available along with Ecologic Senior Management for a shareholder update to be held telephonically the second week of October. The exact date and call in information will be released next week.
ABOUT ECOLOGIC TRANSPORTATION, INC.
Headquartered in Santa Monica, CA, Ecologic Transportation, Inc., is a holding company with wholly owned subsidiaries all dedicated to environmentally friendly transportation products and services. The company encompasses three separate but integrated operations that address the environment and transportation holistically: Ecologic Car Rentals, Ecologic Systems and Ecologic Products. This innovative company has an unbiased approach to green cars and clean fuels by providing a business platform for all emerging environmental transportation technologies. For more information: www.ecologictransportation.com or visit http://www.myshareholder.com/ecologic-transportation.html where you can follow Ecologic on Facebook, Twitter, and You Tube.
Forward-Looking Statements
This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements. All forward-looking statements involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. Factors that may cause actual results to differ materially from those in the forward-looking statements include those set forth in our reports filed with the SEC. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.