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): July 2, 2020

 

LMP Automotive Holdings, Inc.
(Exact name of registrant as specified in its charter)

  

Delaware   333-236260   82-3829328
(State or other jurisdiction   (Commission File Number)   (I.R.S. Employer
of incorporation)       Identification No.)

 

601 N. State Road 7, Plantation, Florida   33317
(Address of principal executive offices)   (Zip Code)

 

Registrant’s telephone number, including area code: (954) 895-0352

 

N/A

Former name or former address, if changed since last report

 

Securities registered or to be registered pursuant to Section 12(b) of the Act.

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
Common Stock, $0.0001 par value per share   LMPX   NASDAQ Capital Market

 

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))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ☒

 

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. ☐

 

 

 

 

 

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

 

(b) On July 2, 2020, William E. Myers II decided not to join LMP Automotive Holdings, Inc. (the “Company”) as the Company’s Chief Financial Officer in order to pursue other opportunities. Until a replacement is appointed, the Company’s Chief Executive Officer, Sam Tawfik, will serve as interim Chief Financial Officer. Mr. Myers’ decision is not the result of a dispute or disagreement with the Company.

 

Item 8.01Other Events.

 

On July 6, 2020, the Company issued a press release announcing Mr. Myers’ decision not to join the Company and the hiring of Brian Finnegan as the Company’s Executive Manager. A copy of the press release is furnished herewith as Exhibit 99.1 to this Current Report on Form 8-K.

 

Item 9.01.Financial Statements and Exhibits

 

(d) Exhibits

 

Exhibit No.   Description
     
99.1   Press Release, dated July 6, 2020.

 

1

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  LMP AUTOMOTIVE HOLDINGS, INC. 
   
July 6, 2020 By: /s/ Sam Tawfik
  Name:   Sam Tawfik
  Title: President and Chief Executive Officer

 

 

2

 

 

Exhibit 99.1

 

LMP Automotive Holdings, Inc. Hires Brian D. Finnegan as Executive Manager

 

PLANTATION, FL / ACCESSWIRE / July 6, 2020 / LMP Automotive Holdings, Inc. (NASDAQ: LMPX) (the “Company” or “LMP”), an e-commerce and facilities-based platform for consumers who desire to buy, sell, subscribe for or finance pre-owned and new automobiles, today announced the hiring of Brian D. Finnegan as Executive Manager.

 

“On behalf of LMP and its Board of Directors, I would like to welcome Brian Finnegan to the LMP team as Executive Manager” said Sam Tawfik, the Company’s Chairman and Chief Executive Officer. “Mr. Finnegan will become the Franchise Dealer Executive Manager and Factory Representative for certain dealerships the Company is seeking to acquire. Mr. Finnegan also brings significant franchise dealership expertise to LMP, having managed brands such as Mercedes Benz, Lexus and others.”

 

Since 1998, Mr. Finnegan worked with companies such as Toyota Motor Sales, Ford Motor Co., Auto Nation and others.

 

Additionally, William E. Myers II, LMP’s previously announced Chief Financial Officer has decided not to join the Company in order to pursue other opportunities. Sam Tawfik will continue to serve as interim Chief Financial Officer until a replacement is appointed.

 

About LMP Automotive Holdings, Inc. – “Buy, Subscribe, Sell and Repeat.”

 

LMP Automotive Holdings, Inc. (NASDAQ: LMPX) describes its business model as “Buy, Subscribe, Sell and Repeat.” This means that we “Buy” pre-owned automobiles primarily through auctions or directly from other automobile dealers, and new automobiles from manufacturers and manufacturer distributors at fleet rates. We “Subscribe” the automobiles to our customers by allowing them to enter into our subscription plan for automobiles in which customers have use of an automobile for a minimum of thirty (30) days. LMP’s all-inclusive vehicle subscription membership includes monthly swaps and covers insurance, maintenance and upkeep. It offers the flexibility to upgrade your vehicle to a more premium model or downgrade for a lesser cost model when you like. We “Sell” our inventory, including automobiles previously included in our rental and subscription programs, to customers as well, and then we “Repeat” the whole process.

 

Media Contact:

 

John Mattio

President and Founder

Lamnia International

(203) 885-1058

jmattio@lamniacom.com

 

For more information visit: https://lmpmotors.com/.

 

 

 

 

FORWARD-LOOKING STATEMENTS:

 

This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Such statements include, but are not limited to, any statements relating to our expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar matters that are not historical facts. These statements may be preceded by, followed by or include the words “aim,” “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “likely,” “outlook,” “plan,” “potential,” “project,” “projection,” “seek,” “can,” “could,” “may,” “should,” “would,” will,” the negatives thereof and other words and terms of similar meanings. Forward-looking statements are based on management’s current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock value. Factors that could cause actual results to differ materially from those currently anticipated include: our dependence upon external sources for the financing of our operations; our ability to effectively executive our business plan; our ability to maintain and grow our reputation and to achieve and maintain the market acceptance of our services and platform; our ability to manage the growth of our operations over time; our ability to maintain adequate protection of our intellectual property and to avoid violation of the intellectual property rights of others; our ability to maintain relationships with existing customers and automobile suppliers, and develop relationships; and our ability to compete and succeed in a highly competitive and evolving industry; as well as other risks described in our SEC filings. There is no assurance that any forward-looking statements will materialize. You are cautioned not to place undue reliance on forward-looking statements, which reflect expectations only as of this date. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.

 

SOURCE: LMP Automotive Holdings, Inc.