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): October 4, 2016 (September 29, 2016)
T3 MOTION, INC.
(Exact name of Registrant as specified in charter)
Delaware | 001-35133 | 20-4987549 | ||
(State
or other jurisdiction of incorporation) |
(Commission
File Number) |
(IRS
Employer Identification Number) |
970 Challenger Street
Brea, CA 92821
(Address of principal executive offices and Zip Code)
(714) 255-0200
(Company’s telephone number, including area code)
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).
[ ] 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 CFR240.14a-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 240.13(e)-4(c))
Item 8.01 | Other Events |
(a) | Press Release |
On September 29, 2016, T3 Motion, Inc. (the “Company”) issued a press release announcing the change of Company’s Independent Registered Public Accounting Firm and providing updates on Company plans. A copy of the press release is attached as Exhibit 99.1 to this report and is incorporated herein by reference. | |
(b) | Letter to Shareholders |
On September 29, 2016, the Company sent a letter to its shareholders, attached as Exhibit 99.2 to this report and is incorporated herein, informing shareholders that the Company has changed its Independent Registered Public Accounting Firm from KMJ Corbin & Company LLP to TAAD LLP and providing updates on Company plans. |
The press release and the letter to the Company’s shareholders each include statements intended as “forward-looking statements,” which are subject to the cautionary statements about forward-looking statements set forth therein.
Item 9.01 | Financial Statements and Exhibits |
(c) | Exhibits |
Exhibit Number |
Description | |
99.1 | Press Release dated September 29, 2016 | |
99.2 | Letter from T3 Motion, Inc. to Shareholders dated September 29, 2016 |
2 |
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.
T3 MOTION, INC. | ||
(Registrant) | ||
Date: October 4, 2016 | By: | /s/ Noel Cherowbrier |
Noel Cherowbrier, | ||
Chief Executive Officer |
3 |
Exhibit 99.1
T3 Motion, Inc. Appoints New Auditors and Announces Plans
for the Future
T3 Motion Appoints TAAD as its New Auditors and Notifies its Shareholders and Stakeholders of its Upcoming Plans
September 29, 2016 (Brea, CA)—T3
Motion, Inc. (OTC: TTTM), the global leader in the design and delivery of electric vehicles and tactical technology to the law
enforcement, military, and security markets, announced the engagement of TAAD LLP as their new independent registered public accountant
to complete the audits and reviews of all of outstanding financial statements, including those that were not completed under previous
management for fiscal years 2012 through 2015.
T3 Motion’s new management team took over in August 2015 and will work conscientiously with TAAD LLP and the Company’s legal and accounting advisors over the next four months to take all remaining actions necessary to become current in their SEC reporting obligations—including completing the preparation, audits, and reviews of the Company’s financial statements for the required periods so that the Company can file all of their outstanding SEC periodic reports as soon as each periodic report is completed during this period.
Additionally, the Company also plans
to proactively take all necessary steps to meet the eligibility requirements for re-listing their common stock for trading on
the NYSE MKT LLC exchange or another national exchange. The Company pledges to work diligently toward their goal of re-listing
on a national exchange during 2017.
A new group of investors brought vitality
and financial resources to the Company after the group acquired majority ownership of the Company’s outstanding capital
stock in November 2014. The proactive investment team firmly believes that the Company’s operations and development is headed
back in the right direction since August 2015, following the appointment of current T3 Motion Board members and engagement of
Mr. Noel Cherowbrier as the Company’s Chief Executive Officer (“CEO”).
Mr. Cherowbrier, who previously served as our Vice President of Global Sales, was responsible for significant International growth for T3 Motion during his initial tenure with the Company from 2006 until the end of 2012. Since returning to the Company, Mr. Cherowbrier and the rest of the management team has continued to focus on making significant improvements in cost control and in boosting revenues.
As the new CEO, Mr. Cherowbrier has
constructed a sales network and established an experienced sales and marketing team to increase sales of tactical products to
new and existing customers. The Company has also capitalized on its existing customer base by introducing new technology driven
products to our law enforcement, security, and military customers. These new product offerings are expanding the Company’s
sales opportunities along with enabling the development of more applications and products for the law enforcement, security, and
government markets.
“We are proud to be partnering
with the accomplished team from TAAD LLP. Their professionalism is an ideal match for our financial reporting efforts,”
said Noel Cherowbrier, C.E.O. of T3 Motion, Inc. “The future for T3 Motion is as bright as ever with our new investment
team, continued focus on clean energy patrol vehicles, and our tactical product line expansion. T3 Motion has long been the leader
in the global public safety market and we are very excited to continue to expand our tactical technology expertise worldwide.”
About T3 Motion, Inc.:
T3 Motion, Inc. (OTC: TTTM) was founded in 2006 in Costa Mesa, CA and has become the leader in clean energy, all-electric patrol vehicles for the Law Enforcement, Military, and Security markets. T3 Motion’s revolutionary patented T3 Patroller was the first electric multi-shift vehicle designed for professional applications with interchangeable batteries. Deployed at airports, military facilities, retail centers, campuses, business districts, and other high-profile locations, the T3 Patroller has quickly become the choice of public safety agencies around the world. T3 Motion, Inc. now also offers customers the T3 Vision, a smaller all-electric patrol vehicle with interchangeable batteries ideal for interior patrols. For more information, visit www.t3motion.com, email sales@t3motion.com, or call (714) 255-0200.
Forward Looking Statements
This press release contains forward
looking statements and information that are based upon beliefs of, and information currently available to, the Company’s
management as well as estimates and assumptions made by the Company’s management. When used in this press release, the words
“aim”, “anticipate”, “believe”, “estimate”, “expect”, “future”,
“intend”, “plan”, “seek”, “will” or the negative of these terms and similar expressions
as they relate to the Company or the Company’s management identify forward looking statements. Such statements reflect the
current view of the Company with respect to future events and are subject to risks, uncertainties, assumptions and other factors
(including the risks contained in the Company’s most recent Form S-1 Registration Statement as filed with the SEC entitled
“Risk Factors” and in periodic reports the Company files from time to time with the SEC) relating to the Company’s
industry, the Company’s operations and results of operations and any businesses that may be acquired by the Company. Should
one or more of these risks or uncertainties materialize, or should the underlying assumptions prove incorrect, actual results
may differ significantly from those anticipated, believed, estimated, expected, intended or planned. Although the Company believes
that the expectations reflected in the forward looking statements are reasonable, the Company cannot guarantee future results,
levels of activity, performance or achievements. You should not place undue reliance on forward looking statements and information,
which speak only as of the date they are made. Except as required by applicable law, including the securities laws of the United
States, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.
Contact:
Noel Cherowbrier
Chief Executive Officer
(714) 255-0200 office
ncherowbrier@t3motion.com
T3 Motion, Inc.
970 Challenger Street, Brea, CA 92821 U.S.A.
(714)
255-0200 ● www.t3motion.com ● sales@t3motion.com
(T3 Motion Product Range)
T3 Motion, Inc.
970 Challenger Street, Brea, CA 92821 U.S.A.
(714)
255-0200 ● www.t3motion.com ● sales@t3motion.com
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Exhibit 99.2
Dear Shareholders:
Thank you for your continued support and concern for T3 Motion, Inc. (the “Company”). As you may be aware, the Company experienced an extremely difficult period during fiscal years 2013 and 2015, including the delisting of our Company’s shares from the NYSE MKT LLC exchange in October 2013 and multiple changes in our senior management and our Board of Directors (the “T3M Board”). However, a new group of investors brought vitality and financial resources to the Company after such group acquired majority ownership of the Company’s outstanding capital stock in November 2014. We believe that the Company’s operations and development finally headed back in the right direction in August 2015, following the appointment of our current T3M Board members and our engagement of Mr. Noel Cherowbrier as the Company’s Chief Executive Officer (“CEO”). Mr. Cherowbrier, who previously served as our Vice President of Global Sales, was responsible for significant International growth of our Company during his initial tenure with the Company from 2006 until the end of 2012. In 2016, Mr. Cherowbrier and the rest of our management team will continue to focus on making significant improvements in cost control and in boosting our revenues.
As our new CEO, Mr. Cherowbrier has constructed a sales network and established an experienced sales and marketing team to increase sales of our products to new and existing customers. The Company has also capitalized on its existing customer base by introducing new technology driven products to our law enforcement, security and the military customers. These new product offerings are expanding our sales opportunities and also enabling the Company to develop more applications and products for the law enforcement, security and the military markets.
In 2015, we formed and organized a subsidiary company in Tianjin, China named T3 Motion China Company Limited (“T3M China”). Our T3M China team has been carefully evaluating the Chinese markets and has found that China’s law enforcement equipment market and its new energy vehicle market are both fertile markets for our Company’s products. T3M China’s team is aggressively marketing our products in these markets in an effort to help us achieve substantial growth in sales of our products starting in 2016.
In September 2016, we engaged TAAD LLP as our new independent registered public accountant to complete the audits and reviews of all of our outstanding financial statements, including those that were not completed under our previous management for fiscal years 2012 through 2015.
We intend to work diligently with TAAD LLP and our legal and accounting advisors over the next 4 months to take all remaining actions necessary to become current in our SEC reporting obligations including completing the preparation, audits and reviews of our financial statements for the required periods so that we can file all of our outstanding SEC periodic reports as soon as each periodic report is completed during this period.
Finally, we also plan to proactively take all necessary steps to meet the eligibility requirements for re-listing our common stock for trading on the NYSE MKT LLC exchange or another national exchange. Although there can be no assurance that we will be successful in our re-listing efforts, we will work diligently toward our goal of re-listing on a national exchange by 2017.
Sincerely,
/s/ Noel Cherowbrier | /s/ Mi “Michael” Zhang | |
Noel Cherowbrier, | Mi “Michael” Zhang, | |
Chief Executive Officer | Chairman |
Forward Looking Statements
This letter contains forward looking statements and information that are based upon beliefs of, and information currently available to, the Company’s management as well as estimates and assumptions made by the Company’s management. When used in this Letter, the words “aim”, “anticipate”, “believe”, “estimate”, “expect”, “future”, “intend”, “plan”, “seek”, “will” or the negative of these terms and similar expressions as they relate to the Company or the Company’s management identify forward looking statements. Such statements reflect the current view of the Company with respect to future events and are subject to risks, uncertainties, assumptions and other factors (including the risks contained in the Company’s most recent Form S-1 Registration Statement as filed with the SEC entitled “Risk Factors” and in periodic reports the Company files from time to time with the SEC) relating to the Company’s industry, the Company’s operations and results of operations and any businesses that may be acquired by the Company. Should one or more of these risks or uncertainties materialize, or should the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended or planned. Although the Company believes that the expectations reflected in the forward looking statements are reasonable, the Company cannot guarantee future results, levels of activity, performance or achievements. You should not place undue reliance on forward looking statements and information, which speak only as of the date they are made. Except as required by applicable law, including the securities laws of the United States, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.
970
Challenger Street, Brea CA 92821
(714) 255-0200 [phone] www.t3motion.com