UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 11, 2019
2050 MOTORS, INC.
(Exact name of Registrant as specified in its Charter)
| California | 001-13126 | 83-3889101 | ||
| (State or other jurisdiction of incorporation) | (Commission File No.) | (IRS Employer Identification No.) |
25 N River Lane Suite 2050, Geneva, IL 60134
(Address of principal executive offices)
(630) 708-0750
(Registrant’s Telephone Number)
(Former name or address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| [ ] | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| [ ] | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| [ ] | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| [ ] | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2) [X]
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act [X]
2050 Motors, Inc. is referred to herein as “we”, “us”, or “us”
ITEM 8.01 Other Events
On August 11, 2019, 2050 Motors, Inc. pursuant to its Board of Directors approved a repurchase program to buy back up to 300 million common shares over the next year. Any shares purchased will be retired to Treasury, which will reduce the corresponding number of common shares from the outstanding total share pool. The Company is in the process of opening up trading accounts at multiple brokerage firms to be able to conduct such business and anticipates such accounts will be approved within several business days.
Item 9.01. Exhibits
(a) Exhibits. The following exhibit is filed with this Current Report on Form 8-K:
| Exhibit No. | Description | |
| 10.1 | Board Resolution – 300MM Share Buyback August 11, 2019 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| 2050 MOTORS, INC. | ||
| Date: August 19, 2019 | By: | /s/ Vikram Grover |
| Vikram Grover | ||
| Chief Executive Officer | ||
