2050 MOTORS, INC. (OTCMKTS:ETFM) Files An 8-K Other Events

2050 MOTORS, INC. (OTCMKTS:ETFM) Files An 8-K Other Events
ITEM 8.01 Other Events

2050 Motors, Inc. has settled a civil complaint filed by Auctus Fund, LLC on October 21, 2019. Both parties believed it was in the best interests of the plaintiff and 2050 to resolve the matter amicably. The settlement removes a $283,000.00 litigation claim for principal, interest and penalties against the Company. Final documents perfecting the settlement will be filed shortly with the Court and copied to all parties.

Item 9.01. Exhibits

(a) Exhibits. The following exhibit is filed with this Current Report on Form 8-K:

Exhibit No. Description
10.1 Auctus Fund, LLC – 2050 Motors, Inc. Settlement 11-25-2019

2050 MOTORS, INC. Exhibit

To view the full exhibit click here

Story continues below


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.

An ad to help with our costs