UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. ________)*
2050 Motors, Inc.
(Name of Issuer)
Series B Preferred Stock
(Title of Class of Securities)
90214L106
(CUSIP Number)
25 N River Lane Suite 2050, Geneva, IL 60134
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
August 26, 2019
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. [ ]
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
| CUSIP No. 90214L106 | 13D | Page 2 of 4 Pages |
| 1. | NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Vikram Grover |
| 2. | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions)
(a) [ ] (b) [X] |
| 3. | SEC USE ONLY
|
| 4. | SOURCE OF FUNDS (see instructions)
OO |
| 5. | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ]
|
| 6. | CITIZENSHIP OR PLACE OF ORGANIZATION
United States |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7. | SOLE VOTING POWER
525,000 |
| 8. | SHARED VOTING POWER
- | |
| 9. | SOLE DISPOSITIVE POWER
525,000 | |
| 10. | SHARED DISPOSITIVE POWER
- |
| 11. | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
525,000 |
| 12. | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (see instructions) [ ]
|
| 13. | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
100% |
| 14. | TYPE OF REPORTING PERSON (see instructions)
IN |
| CUSIP No. 90214L106 | 13D | Page 3 of 4 Pages |
Item 1. Security and Issuer.
This Schedule 13D relates to 1% Cumulative Convertible Series B Preferred Shares of 2050 Motors, Inc. The address of the principal executive office of 2050 Motors, Inc. is 25 N River Lane Suite 2050, Geneva, IL 60134. Its phone number is (630) 708-0750 and website iswww.2050motors.com.
Item 2. Identity and Background.
This Schedule 13D is filed by Vikram Grover whose address is 2810 Bristol Dr. Unit 309, Lisle, IL 60532.
During the last five years, none of the Reporting Persons (i) has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) was a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violations with respect to such laws.
Item 3. Source or Amount of Funds or Other Consideration.
On August 26, 2019, 2050 Motors, Inc. entered into a Securities Purchase Agreement between 2050 Motors and Vikram Grover (the “Purchase Agreement”), pursuant to which Vikram Grover agreed to purchase, subject to the terms and conditions set forth therein, 125,000 1% Cumulative Convertible Series B Preferred Shares of 2050 Motors, Inc. for $25,000. The transaction closed on August 26, 2019.
Item 4. Purpose of Transaction.
Investment
Item 5. Interest in Securities of the Issuer.
Officer, Director, Active
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.
Contract executed between 2050 Motors, Inc. and Vikram Grover on August 26, 2019 to sell 125,000 1% Cumulative Convertible Series B Preferred Shares to Vikram Grover.
Item 7. Material to Be Filed as Exhibits.
Securities Purchase Agreement (“SPA”) dated August 26, 2019.
| CUSIP No. 90214L106 | 13D | Page 4 of 4 Pages |
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
| COMPANY NAME | |
| /s/ Vikram Grover, CEO | |
| Vikram Grover |
