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): August 11, 2019
2050 MOTORS, INC.
(Exact name of Registrant as specified in its Charter)
| California | 001-13126 | 83-3889101 | ||
| (State
or other jurisdiction of incorporation) |
(Commission File No.) |
(IRS
Employer Identification No.) |
25 N River Lane Suite 2050, Geneva, IL 60134
(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):
| [ ] | 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)) |
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 8.01 Other Events
On August 11, 2019, 2050 Motors, Inc. terminated a $200,000 Master Note executed with a third-party lender on March 15, 2019. $12,500 was funded under the Note on May 13, 2019 with no additional funding provided. During the second quarter of 2019, the third-party lender purchased loans in default from two other third-party lenders. Both of those loans have been completely converted into equity and eliminated from the Company’s balance sheet, with a final conversion notice provided to and completed by the Company on July 31, 2019.
Item 9.01. Exhibits
(a) Exhibits. The following exhibit is filed with this Current Report on Form 8-K:
| Exhibit No. | Description | |
| 10.1 | JSJ Investments Inc. Note Assignment Paperwork* | |
| 10.2 | LG Capital Funding, LLC Note Assignment Paperwork* | |
| 10.3 | TBV Master Note March 15, 2019 |
*Original loan document(s) incorporated by reference in the Company’s Form 10-K for fiscal year 2018 filed with the SEC.
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.
| 2050 MOTORS, INC. | ||
| Date: August 14, 2019 | By: | /s/ Vikram Grover |
| Vikram Grover | ||
| Chief Executive Officer | ||