T3M INC. (OTCMKTS:TTTM) Files An 8-K Bankruptcy or Receivership


T3M INC. (OTCMKTS:TTTM) Files An 8-K Bankruptcy or Receivership

Item 1.03.

Bankruptcy or Receivership.

On May 15, 2017, T3M Inc. (formerly known as T3 Motion, Inc. and
hereinafter the Company) filed a voluntary
petition (the Chapter 11 Case) under Chapter 11
(Chapter 11) of Title 11 of the United States
Code (the Bankruptcy Code) in the United States
Bankruptcy Court for the Central District of California (the
Court). The Chapter 11 Case is being
administered under the caption In re T3M Inc. (Case
No.6:17-bk-14082-SY). The Company will continue to operate its
business in the ordinary course as a debtor-in-possession under
the jurisdiction of the Court and in accordance with the
applicable provisions of the Bankruptcy Code and orders of the
Court. The Company intends to promptly seek the necessary relief
from the Bankruptcy Court in order to allow it to continue to
conduct business with minimal interruption and impact on its
operations, customers and employees. The Company filed the
Chapter 11 Case, in part, to resolve all disputed outstanding
liabilities, including but not limited to, those arising or that
may arise from its ongoing disputes with its former Chief
Executive Officer William Tsumpes and his affiliates, and Lender
Collections, LLC.

Item 2.04. Triggering Events that Accelerate or Increase a
Direct Financial Obligation or an Obligation Under an
Off-Balance Sheet Arrangement.

The filing of the Chapter 11 Case described in Item1.03 above may
constitute an event of default under terms of the 5% Convertible
Promissory Notes that the Company issued to five accredited
investors between July 2016 through September 2016 with an
aggregate principal amount owed thereunder of approximately $1.28
million (the Notes).

The Notes provide that if an event of default occurs, then all
accrued but unpaid principal, interest, liquidated damages and
all other amounts due under the Notes shall be immediately due
and payable. Any efforts to enforce such payment obligations
under the Notes are automatically stayed as a result of the
Chapter 11 Case, and the creditors rights of enforcement in
respect of the Notes are subject to the applicable provisions of
the Bankruptcy Code.

Cautionary Information Regarding Forward-Looking

Certain statements and information included in this Current
Report on Form 8-K may constitute forward-looking statements that
are generally identifiable through the use of words such as plan,
intends and similar expressions and include any statements that
are made regarding financial expectations. The forward-looking
statements speak only as of the date of this Current Report on
Form 8-K, and the Company undertakes no obligation to update or
revise such statements to reflect new information or events as
they occur. These statements are based on a number of
assumptions, risks and uncertainties, many of which are beyond
the control of the Company. Investors are cautioned that any such
statements are not guarantees of future business or financial
performance and that actual future results may differ materially
due to a variety of factors. Factors that could cause the
Companys results to differ materially include, but are not
limited to, the following: (i) the Companys ability to obtain
Bankruptcy Court approval with respect to motions and actions in
connection with a plan of reorganization in the Chapter 11 Case;
(ii) the Companys ability to operate its business during the
pendency of the Chapter 11 Case; (iii) the effects of the filing
of the Chapter 11 Case on the Companys business operations and
the upon the interests of various creditors, stockholders and
other stakeholders; (iv) the length of time the Company will
operate as a debtor in possession in the Chapter 11 Case; (v)
risks associated with motions and other actions that third
parties may take in the Chapter 11 Case, which may interfere with
the Companys ability to develop, secure approval of, and
consummate a plan of reorganization; (vi) the potential adverse
effects of the Chapter 11 Case on the Companys financial
condition, business operations, customers and potential
customers, employees, liquidity, and results of operations; and
(vii) other factors disclosed by the Company from time to time in
its filings with the SEC. As a result of these factors, the
Companys actual results may differ materially from those
indicated or implied by such forward-looking statements.

Cautionary Information Regarding Trading in the
Companys Equity Securities

The Companys stockholders are cautioned that trading in shares of
the Companys equity securities during the pendency of its Chapter
11 Case is highly speculative and poses substantial risks,
including the fact that the Companys stock may be of little or no
value. Trading prices for the Companys equity securities may bear
little or no relationship to the actual recovery, if any, by
holders of the Companys securities upon the conclusion of the
Chapter 11 Case. Therefore, the Company urges extreme caution
with respect to existing and future investments in its

Except as required by law, the Company disclaims any obligation
to publicly update such statements.


T3M INC., formerly T3 Motion, Inc., provides public safety technology. The Company specializes in public safety patrol and tactical technology solutions for the law enforcement, security and military markets. The Company produces personal mobility vehicles and tactical technology. The Company’s vehicles include T3 Patroller and T3 Vision. The T3 Patroller comes in three models: Elite (full suspension + reverse), Premium (front suspension + optional reverse) and Standard (rigid chassis + optional reverse). The T3 Patroller is an electric stand-up vehicle, which is used in various applications, such as airports/transportation centers, retail/lifestyle centers/malls, military/government facilities, hospitals/medical centers, warehouses/large buildings, hotels/resorts/casinos and campuses/museums. The T3 Vision is also an electric stand-up vehicle. The T3 Patroller’s accessories include on-board global positioning system (GPS) tracking system and automated license plate recognition system.

T3M INC. (OTCMKTS:TTTM) Recent Trading Information

T3M INC. (OTCMKTS:TTTM) closed its last trading session down -0.0070 at 0.0140 with 209,500 shares trading hands.

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