Gentlemen and Ladies:
I have avoided reading this chat room for a couple months but felt it was time to say something. There are a lot of misinformation and slanderous statements about 2050 and me stated here. To set the record straight, here you go:
1 – Everything filed with the SEC is true. I am not interested in sanctions, fines or jail so if something is filed with the SEC take it to the bank. We have an unlimited SEC filing contract with M2 Compliance, and I use it to issue information to shareholders rather than waste funds on press releases that cost substantial monies. 8K filings are done to inform, not to promote, so stop alleging that we use 8K filings to promote the stock. No OTC Company has ever been as transparent as 2050.
2 – Debt conversions that have been done were to pay back loans taken by prior management. No conversions have funded the Company or lined management’s pockets. Such loans are the only way to fund a microcap Company in this environment. Since I took over, 2050 has borrowed as little as possible from friendly sources to move forward for shareholders and keep the lights on. I have also reduced the number of lenders to make the cap table more rational. I personally have been compensated about $30K cash for saving this Company from ruin, so I find it insulting when I see comments that I am being paid to screw shareholders. I put a liquid asset worth today $250K into the Company, and intend to monetize it to the benefit of all of you. The stock buyback authorization was not BS.
3 – All of the deals that 2050 announced were legitimate. The deals we have announced walked due to the 2050 stock downturn, except ERIDE. None were negotiated or agreed to in order to promote 2050’s stock. It’s a shame, as the CLEC deal would have allowed us to attack a multi-billion-dollar opportunity for origination of ports and services for VOIP providers now targeted by BAND which has a $1.5BN market cap. We could have undercut them with a better cost structure that they have proven. EDGE FiberNet’s (CLEC’s owner) Ted Flomenhaft has done a great job proving that model and I hope to revisit it as part of 2050 or privately. As for ERIDE, I am doing due diligence and we remain on track.
4 – 2050’s shareholder meeting remains scheduled for October 23 in Chicago, though the destination may change to the CBOE from the CME. Thus far, only two investors have expressed interest in attending by remote, so it’s laughable that anyone would question the veracity of the meeting. If any investor wants to meet me in person, then show up and stop spewing BS on this Board, or speak with me as I am reachable at (630) 708-0750 or vik@2050motors.com.
I used to wake up at 3am pumped up to build this thing. If you don’t want to join the ride, that is your prerogative. If you do want to participate, then call me or show up in two weeks in Chitown. We will change the name of this Company to FOMO CORP. Get on the ride or get off. Up to you.
Respectfully,
Vik Grover
CEO
2050 Motors, Inc. d/b/a FOMO CORP.
