2050 MOTORS, INC. (OTCMKTS:ETFM) Files An 8-K Entry into a Material Definitive Agreement
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On May 5, 2019, 2050 Motors, Inc. executed a Securities Purchase Agreement with our CEO, Vikram Grover, for an investment in the Company of $483,000.00 in the form of 210,000,000 free-trading common shares of Peer to Peer Network aka Mobicard Inc. As consideration, the Company is issuing the investor 400,000 newly-created 1% Cumulative Series B Preferred Shares, each of which bears a restrictive legend, is convertible into 1,000 common shares, and has 1,000 votes on corporate matters. The investment is intended to strengthen the Company’s balance sheet, provide liquidity and facilitate capital raising.
Item 9.01. Exhibits
(a) Exhibits. The following exhibit is filed with this Current Report on Form 8-K:
| Exhibit No. | Description |
| 10.1 | Securities Purchase Agreement 400,000 Series B Preferred Shares – Vikram Grover |
| 10.2 | Stock Certificate – 210,000,000 Peer to Peer Network aka Mobicard Inc. |
2050 MOTORS, INC. Exhibit
EX-10.1 2 ex10-1.htm 2050 MOTORS,…
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About 2050 MOTORS, INC. (OTCMKTS:ETFM)
2050 Motors, Inc. is a development-stage company. The Company’s principal activity is the importation and the marketing and selling of electric automobiles. The Company has an exclusive license to import, market and sell in the United States, Puerto Rico, the United States Territories and Peru, the e-Go lightweight carbon fiber all-electric vehicle design and electric light truck, manufactured by Jiangsu Aoxin New Energy Automobile Co., LTD (Aoxin Automobile) located in the Peoples Republic of China. Aoxin Automobile develops and manufactures a lightweight, carbon fiber e-Go EV electric car (e-Go EV). The Company focuses on importing vehicles completely fabricated and assembled in China from Aoxin Automobile. The Company has not generated any revenues.
