UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 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): February 13, 2018

 

2050 MOTORS, INC.

(Exact Name of Registrant as Specified in its Charter)

 

California   001-13126   95-4040591

(State or Other Jurisdiction

of Incorporation)

 

(Commission

File Number)

 

(I.R.S. Employer

Identification No.)

 

3420 Bunkerhill Drive, North Las Vegas, NV   89074
(Address of Principal Executive Offices)   (Zip Code)

 

Registrant’s Telephone Number, Including Area Code: (702) 591-6029

 

 

(Former name or former 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:

 

[  ] 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))

 

 

 

 

 

 

In this Current Report on Form 8-K, “Company,” “our company,” “us,” “2050,” and “our” refer to 2050 Motors, Inc., unless the context requires otherwise.

 

FORWARD-LOOKING STATEMENTS

 

Our disclosure and analysis in this Current Report on Form 8-K contains some forward-looking statements. Certain of the matters discussed concerning our operations, cash flows, financial position, economic performance and financial condition, and the effect of economic conditions include forward-looking statements. Statements that are predictive in nature, that depend upon or refer to future events or conditions or that include words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates” and similar expressions are forward-looking statements. Although we believe that these statements are based upon reasonable assumptions, including projections of orders, sales, operating margins, earnings, cash flow, research and development costs, working capital, capital expenditures and other projections, they are subject to several risks and uncertainties.

 

Investors are cautioned that our forward-looking statements are not guarantees of future performance and the actual results or developments may differ materially from the expectations expressed in the forward-looking statements.

 

As for the forward-looking statements that relate to future financial results and other projections, actual results will be different due to the inherent uncertainty of estimates, forecasts and projections may be better or worse than projected. Given these uncertainties, you should not place any reliance on these forward-looking statements. These forward-looking statements also represent our estimates and assumptions only as of the date that they were made. We expressly disclaim a duty to provide updates to these forward-looking statements, and the estimates and assumptions associated with them, after the date of this filing to reflect events or changes in circumstances or changes in expectations or the occurrence of anticipated events. You are advised, however, to consult any additional disclosures we make in our reports on Form 10-K, Form 10-Q, Form 8-K, or their successors.

 

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

On February 13, 2018, the Board of Directors appointed Mr. Michael Hu as Chairman of the Board. He will also be in charge of International Relations between China and the USA for the Company.

 

There are presently no plans or commitments with regard to such compensation or remuneration. The Company has no employee benefit plans or other compensation plans.

 

Item 7.01 Regulation FD Disclosure

 

On February 13, 2018, the Company issued a press release announcing the promotion and election of George S. Hedrick as President of the Company, and the appointment of Mr. Michael Hu as Chairman of the Board. Michael Hu will also be in charge of International Relations between China and the USA for the Company.

 

On February 15, 2018 the Company issued a press release announcing a Memorandum of Understanding (MOU) with Graphene Future, Inc., to produce high-grade graphene material for the electric vehicle battery market.

 

A copy of the press releases are attached hereto as Exhibits 99.1 and 99.2 respectively and incorporated herein by reference.

 

 

 

 

Item 9.01 Financial Statements and Exhibits.

 

(c)   Exhibits.
    99.1 Press Release dated February 13, 2018.
    99.2 Press Release dated February 15, 2018.

 

 

 

 

Signature(s)

 

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.

 

February 16, 2018  
     
2050 Motors, Inc.  
     
By: /s/ George Hedrick  
  George Hedrick, CEO/Secretary  

 

 

 

 

Exhibit Index

 

Exhibit No.   Description

 

99.1   Press Release dated February 13, 2018.
99.2   Press Release dated February 15, 2018.

 

 

 

 

 

EXHIBIT 99.1

 

2050 Motors Announces New President

 

February 13, 2018 09:30 ET | Source: 2050 Motors, Inc.

 

LAS VEGAS, Feb. 13, 2018 (GLOBE NEWSWIRE) — 2050 Motors (US OTC:ETFM) today announced that George S. Hedrick, former Vice President of North American Operations, was promoted and elected President of 2050 Motors, Inc. Michael Hu, the former President, has also been promoted to Chairman of the Board and will also be in charge of International Relations between China and the USA for 2050 Motors.

 

Mr. Hedrick stated, “We intend to proceed with a more aggressive plan for 2050 Motors. The Company was founded to develop the next generation of clean, lightweight, efficient vehicles and other green technologies. These technologies include fuels, hybrids, advanced materials, new batteries and low-cost carbon fiber vehicles. Our long-term relationships with other companies for a variety of game-changing technologies have been very fruitful. 2050 Motors has proceeded with this plan and, under my presidency, the Company will endeavor to pursue these valuable relationships we have formulated bringing to the US the next generation of efficient and clean transportation. 2050 Motors is now reviewing management resumes with the goal of bringing new automotive technology expertise to spearhead our organization.”

 

About 2050 Motors, Inc.

 

2050 Motors, Inc. ( http://2050motors.com/about-us.html ) is a publicly traded company founded to develop and produce the next generation of clean, lightweight, efficient vehicles and their associated technologies. Some of these technologies include alternative renewable fuels, hybrid electric vehicles, advanced graphene lithium batteries and low-cost carbon fiber vehicles. The Company has been successful in forming long-term relationships and exclusive contracts for a variety of game-changing technologies.

 

Disclosure Statement

 

Statements in this press release about our future expectations, including without limitation, the likelihood that 2050 Motors will be able to leverage capital markets to execute its growth strategy, meet US DOT requirements, meet minimum sales expectations, will be successful and profitable in the US market, and will bring significant value to 2050 Motors’ stockholders, constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time, and our actual results could differ materially from expected results. The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this statement or to reflect the occurrence of unanticipated events, except as required by law.

 

CONTACT:
George Hedrick,
President
2050 Motors, Inc.
(702) 591-6029
info@2050motors.com

 

 

 

 

 

EXHIBIT 99.2

 

2050 Motors Signs MOU To Acquire Part Ownership In Graphene Company

 

February 15, 2018 09:30 ET | Source: 2050 Motors, Inc.

 

LAS VEGAS, Feb. 15, 2018 (GLOBE NEWSWIRE) — George Hedrick, President of 2050 Motors, Inc. (US OTC:ETFM), announced today that 2050 Motors has signed a Memorandum of Understanding (MOU) with Graphene Future, Inc., to produce high-grade graphene material for the electric vehicle battery market.

 

The MOU includes a 20% ownership in Graphene Future, Inc., by 2050 Motors and the exclusive rights to utilize and distribute this graphene product for the next generation electric vehicle battery market worldwide.

 

1) Mr. Hedrick stated that: In a 2014 Wall Street Daily article titled “The Arms Race for Graphene is Officially On” ( https://www.wallstreetdaily.com/2014/05/21/graphene-smartphones/ ), it states: “While the world’s next super-genius invents a device that will make our smartphones look silly, a quiet war is being waged amidst tech heavyweights like Apple (AAPL), Samsung (SSNLF) and Google (GOOGL).”

 

“It’s a vicious cutthroat war, too. The battle is over access to a certain wonder material known as ‘graphene’. He who controls graphene rules the tech world.”

 

The article continues, “What Makes Graphene So Incredible? Graphene is super-conductive [near zero resistance]. It weighs next to nothing. It’s stronger than steel [200 times stronger than steel by weight]. Oh, and it bends, too!”

 

2) The graphene industry is still in its infancy as evidenced by the persistent high cost of quality graphene product. Graphene is the future material for many high-tech industry products such as anode and cathode production for the next generation of high energy density lithium batteries and supercapacitors. It will be possible to have a 20-minute recharge battery in electric vehicles with highway ranges of up to 500 miles per charge.

 

3) Mr. Hedrick continues: The present industrial production of graphene requires several chemical processes. These methods have many drawbacks including significant capital investment to build the facilities, they’re expensive to run, utilize huge quantities of very high concentration acids, require stringent safety precautions because of hazardous conditions, and they’re environmentally unfriendly producing huge amounts of toxic chemicals for disposal.

 

4) Graphene Future developed a one-step industrial process to produce graphene without any hazardous waste products, it’s absolutely safe for its operating personnel, it’s inexpensive to produce and only requires a modest capital investment to build the facilities to create high-quality graphene.

 

About 2050 Motors, Inc.

 

2050 Motors, Inc. ( http://2050motors.com/about-us.html ) is a publicly traded company founded to develop and produce the next generation of clean, lightweight, efficient vehicles and their associated technologies. Some of these technologies include alternative renewable fuels, hybrid electric vehicles, advanced graphene lithium batteries and low-cost carbon fiber vehicles. The Company has been successful in forming long-term relationships and exclusive contracts for a variety of game-changing technologies.

 

Disclosure Statement

 

Statements in this press release about our future expectations, including without limitation, the likelihood that 2050 Motors will be able to leverage capital markets to execute its growth strategy, meet US DOT requirements, meet minimum sales expectations, will be successful and profitable in the US market, and will bring significant value to 2050 Motors’ stockholders, constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time, and our actual results could differ materially from expected results. The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this statement or to reflect the occurrence of unanticipated events, except as required by law.

 

CONTACT:

George Hedrick,

President

2050 Motors, Inc.

(702) 591-6029

info@2050motors.com