0001493152-19-013339.txt : 20190826 0001493152-19-013339.hdr.sgml : 20190826 20190826081035 ACCESSION NUMBER: 0001493152-19-013339 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20190825 ITEM INFORMATION: Other Events FILED AS OF DATE: 20190826 DATE AS OF CHANGE: 20190826 FILER: COMPANY DATA: COMPANY CONFORMED NAME: 2050 MOTORS, INC. CENTRAL INDEX KEY: 0000867028 STANDARD INDUSTRIAL CLASSIFICATION: PERFUMES, COSMETICS & OTHER TOILET PREPARATIONS [2844] IRS NUMBER: 954040591 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-13126 FILM NUMBER: 191050522 BUSINESS ADDRESS: STREET 1: 25 N RIVER LANE STREET 2: SUITE 2050 CITY: GENEVA STATE: IL ZIP: 60134 BUSINESS PHONE: (630) 708-0750 MAIL ADDRESS: STREET 1: 25 N RIVER LANE STREET 2: SUITE 2050 CITY: GENEVA STATE: IL ZIP: 60134 FORMER COMPANY: FORMER CONFORMED NAME: ZEGARELLI GROUP INTERNATIONAL INC DATE OF NAME CHANGE: 19971008 FORMER COMPANY: FORMER CONFORMED NAME: COSMETIC GROUP USA INC /CA/ DATE OF NAME CHANGE: 19930814 FORMER COMPANY: FORMER CONFORMED NAME: K7 CAPITAL CORP DATE OF NAME CHANGE: 19930328 8-K 1 form8-k.htm

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 25, 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 25, 2019, 2050 Motors, Inc. reviewed the accounting treatment of its ownership of 210,000,000 free trading shares of Mobicard Inc. aka Peer to Peer Network (PTOP/OTC). After discussions with its accounting department, the Company has reclassified the position to Assets Held for Sale from Investments, which will increase Working Capital (Liquidity) and Current Assets by $273,000 based on the closing bid price of PTOP shares on August 23, 2019 ($0.0013). These changes of accounting treatment(s) will become effective for the Company’s financial statements for its third quarter ended September 30, 2019 and upcoming Form 10-Q filing with the SEC. 2050 Motors may sell some or all of the investment to fund other announced and/or planned investments and acquisitions, execute recently approved and announced share buybacks, or for general corporate purposes. Management is currently completing paperwork with brokerage firms to prepare for such actions.

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 26, 2019	By:	/s/ Vikram Grover
		Vikram Grover
		Chief Executive Officer