ZAP (OTCMKTS:ZAAP) Files An 8-K Unregistered Sales of Equity SecuritiesItem 3.02
Unregistered Sales of Equity Securities
Between November 2, 2016 and January 22, 2017, the Company issued an aggregate of 44,409,963 shares of its common stock. Of that amount, (a) 38,299,077 shares were issued to China Electric Vehicle Corporation under the terms of the Company’s Senior Convertible Promissory Note dated January 12, 2011 in lieu of the payment of accrued interest on the Note which is no longer an outstanding obligation of the Company; (b) 4,973,788 were issued to Better World International Hong Kong in satisfaction of indebtedness owed by the Company; and (c) 1,137,098 shares were issued to a third party as compensation for engineering services rendered to ZAP. The shares were issued at prices ranging from $0.024 to $0.047 per share.
The shares were issued to to Section 4(a)(2) and/or Regulation S under the Securities Act of 1933, as amended.
The number of shares of common stock issued and outstanding as of February 27, 2017 as 610,405,648.
About ZAP (OTCMKTS:ZAAP)
ZAP designs, develops, manufactures and sells electric vehicles. The Company operates through three segments: Jonway Auto, ZAP (Consumer Product) and ZAP Hong Kong. The Jonway Auto segment includes sales of the gas fueled Jonway A380 three and five-door sports utility vehicles, EV minivan and EV sport utility vehicles (SUVs), and spare parts principally through distributors in China. The ZAP Consumer Product segment includes rechargeable portable energy products, its Zapino scooter and ZAPPY3 personal transporters. The Company, through an interest in Zhejiang Jonway Automobile Co. Ltd. (Jonway), has an automobile production manufacturing facility to produce electric vehicle products. Jonway offers a small lower speed vehicle (LSV) under the name Urbee, and also provides electric vehicle (EV) SUV and EV minivan. The Company also has interests in ZAP Hangzhou, Shanghai Zapple Electric Vehicle Technologies Co., Ltd. (Shanghai Zapple) and Better World International Limited. ZAP (OTCMKTS:ZAAP) Recent Trading Information
ZAP (OTCMKTS:ZAAP) closed its last trading session down -0.0002 at 0.0198 with 67,939 shares trading hands.
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