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 March 19, 2019, we completed a Strategic Consulting Agreement (the “Agreement”) with Edge Fibernet, Inc. (“Edge”) to provide the following consulting services, among others: marketing strategies, development work in financial projects and launch new product initiatives. The Agreement terms include a one year term, compensation of 10 million common stock purchase warrants with an exercise price of $0.005, a 3 year Warrant Exercise Period and a cashless exercise feature. Additionally, Edge will provide us with an option to lease 4,000 square feet at Edge’s New York headquarters to develop a showroom and corporate location for our products, services and operations. Such lease is contingent upon our ability to receive adequate funding.
Item 9.01. Financial Statements and Exhibits.
|10.1||Agreement with Edge Fibernet, Inc.|
2050 MOTORS, INC. Exhibit
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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.