Sec Form 13D Filing - KROLL JERRY filing for ELECTRAMECCANICA VES (SOLO) - 2021-12-23

Insider filing report for Changes in Beneficial Ownership

  • Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
  • Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D/A
(Amendment No. 5)

Under the Securities Exchange Act of 1934

ELECTRAMECCANICA VEHICLES CORP.

(Name of Issuer)


Common Shares without par value

(Title of Class of Securities)


284849205

(CUSIP Number)


copy to:

Jerry Kroll
328 East 11th Avenue
Vancouver, BC  V5T 4W1
604.428.7656

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)


December 17, 2021

(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).


SCHEDULE 13D

CUSIP No.

284849205


1

NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

Jerry Kroll

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

(a)  [ X ]
(b)  [  ]

3

SEC USE ONLY

 

4

SOURCE OF FUNDS (See Instructions)

PF

5

CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E)

[  ]

6

CITIZENSHIP OR PLACE OF ORGANIZATION

Canada

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

7

SOLE VOTING POWER

7,748,162(1) 

8

SHARED VOTING POWER

Nil

9

SOLE DISPOSITIVE POWER

7,748,162(1)

10

SHARED DISPOSITIVE POWER

Nil

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

7,748,162 common shares(1)

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)

6.47%(2)

14

TYPE OF REPORTING PERSON (See Instructions)

IN

(1) Consists of the following securities: (i) 3,675,000 common shares held directly; (ii) 1,331,636 common shares held indirectly through Ascend Sportmanagement Inc.; (iii) 2,732,728 stock options, of which 1,245,455 are exercisable at a price of CDN$0.30 per common share until June 11, 2022, 227,273 are exercisable at a price of CDN$0.80 per common share until December 9, 2022, 5,000 are exercisable at a price of CDN$2.00 per common share until February 17, 2024, 5,000 are exercisable at a price of $9.60 per common share until January 5, 2025, and 1,250,000 are exercisable at $2.45 per common share until August 4, 2026 and (iv) 8,798 deferred stock units.  Jerry Kroll has the sole power to vote or direct the vote, and to dispose or direct the disposition, of these securities.

(2) Calculated based on the aggregate of 119,784,490 common shares, which consists of 117,042,964  common shares outstanding as of November 9, 2021, 2,732,728 common shares that may be acquired on exercise of stock options exercisable and 8,798 common shares that may be acquired on exercise of deferred stock units, all within sixty days, pursuant to Rule 13d-3 of the Act.


Page 3


CUSIP No.

284849205


1

NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

Ascend Sportmanagement Inc.

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

(a)  [ X]
(b)  [  ]

3

SEC USE ONLY

 

4

SOURCE OF FUNDS (See Instructions)

WC

5

CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E)

[  ]

6

CITIZENSHIP OR PLACE OF ORGANIZATION

British Columbia, Canada

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

7

SOLE VOTING POWER

Nil

8

SHARED VOTING POWER

1,331,636(1)

9

SOLE DISPOSITIVE POWER

Nil

10

SHARED DISPOSITIVE POWER

1,331,636(1)

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

1,331,636 common shares(1)

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)

1.14%

14

TYPE OF REPORTING PERSON (See Instructions)

CO

(1) Jerry Kroll has the sole power to vote or direct the vote, and to dispose or direct the disposition, of these securities.

(2) Calculated based on 117,042,964 common shares issued and outstanding as of November 9, 2021.


Page 4

This Schedule 13D is being filed on behalf of Jerry Kroll ("Kroll") and Ascend Sportmanagement Inc. ("Ascend" and, together with Kroll, collectively, the "Reporting Persons") relating to the common shares of Electrameccanica Vehicle Corp., a corporation existing under the laws of the Province of British Columbia (the "Issuer").

Item 1.  Security and Issuer

This Statement relates to the common shares (the "Shares") of the Issuer.  The principal executive offices of the Issuer are located at 102 East 1st Avenue, Vancouver, BC  V5T 1A4.

Item 2.  Identity and Background

This Statement is filed by the Reporting Persons.

Kroll, a director of the Issuer, has a residence address at Suite 1102 - 328 East 11th Avenue, Vancouver, BC  V5T 4W1 and is a citizen of Canada.

Ascend, a corporation existing under the laws of British Columbia, Canada, is a company that provides international sports marketing and management services.  Ascend's business address is Suite 1102 - 328 East 11th Avenue, Vancouver, BC  V5T 2T6.

None of the Reporting Persons nor any of their directors or executive officers has, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).

None of the Reporting Persons nor any of their directors or executive officers has, during the last five years, been 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 violation with respect to such laws.

Pursuant to Rule 13d-3 under the Act, by reason of his relationship with Ascend, Kroll may be deemed the beneficial owner of all of the Shares beneficially owned by Kroll.  Kroll and Ascend may be regarded as a group for purposes of Rule 13d-5 under the Act.

For information with respect to each executive officer and director of Ascend see Appendix A attached hereto which is specifically incorporated herein by reference in its entirety.

Item 3.  Source and Amount of Funds or Other Considerations

Since August 13, 2021, Ascend has sold the following Shares:

Date

Number of Shares Sold

Price Per Share

Proceeds ($)

August 25, 2021

41,848

3.4585

144,731.3080

August 26, 2021

41,848

3.455

144,584.8400

August 27, 2021

41,848

3.4843

145,810.9864

September 1, 2021

41,848

3.6222

151,581.8256

September 2, 2021

41,848

3.6403

152,339.2744

September 3, 2021

41,848

3.4843

145,810.9864

October 1, 2021

71,739

3.4049

244,264.1211

October 6, 2021

< p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt;">71,739

3.2514

233,252.1846

October 7, 2021

71,739

3.335

239,249.5650

October 8, 2021

71,739

3.3406

239,651.3034



Page 5


October 13, 2021

71,739

3.4275

245,885.4225

October 14, 2021

71,739

3.4344

246,380.4216

October 15, 2021

71,745

3.4324

246,257.5380

November 17, 2021

19,187

3.7526

72,001.1362

November 18, 2021

19,187

3.4531

66,254.6297

November 19, 2021

19,187

3.5121

67,386.6627

November 22, 2021

19,187

3.2209

61,799.4083

November 23, 2021

19,187

3.0977

59,435.5699

November 24, 2021

19,187

3.1489

60,417.9443

November 26, 2021

19,187

3.0645

58,798.5615

November 29, 2021

19,187

3.0209

57,962.0083

November 30, 2021

19,187

2.9323

56,262.0401

December 1, 2021

19,187

2.8478

54,640.7386

December 2, 2021

19,187

2.7269

52,321.0303

December 3, 2021

19,187

2.8286

54,272.3482

December 6, 2021

19,187

2.7307

52,393.9409

December 7, 2021

19,187

2.8024

53,769.6488

December 8, 2021

19,187

2.8445

54,577.4215

December 9, 2021

19,187

2.7898

53,527.8926

December 10, 2021

19,187

2.7119

52,033.2253

December 13, 2021

19,187

2.6525

50,893.5175

December 14, 2021

19,187

2.6284

50,431.1108

December 15, 2021

19,187

2.5389

48,713.8743

December 16, 2021

19,187

2.5683

49,277.9721

December 17, 2021

19,187

2.5093

48,145.9391

December 20, 2021 

19,187

2.4686 47,365.0282
December 21, 2021

19,187

 2.5222 48,393.4514
December 22, 2021

19,187

 2.5099 48,157.4513
December 23, 2021

19,187

 2.5014 47,994.3618

Total

1,252,129

 

4,007,026.6907

Item 4.  Purpose of Transaction

The Reporting Persons disposed of the securities in order to monetize a portion of their investments in the Issuer. 

As of the date hereof, except as described in this Schedule 13D, the Reporting Persons do not have any plans or proposals which relate to or would result in:

 

the acquisition by any person of additional securities of the Issuer, or the disposition of securities of the Issuer;

 

 

 

 

an extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the Issuer or any of its subsidiaries;

 

 

 

 

a sale or transfer of a material amount of assets of the Issuer or any of its subsidiaries;

 

 

 

 

any change in the present board of directors or management of the Issuer, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the board;

 

 

 

 

any material change in the present capitalization or dividend policy of the Issuer;

 

 

 

 

any other material change in the Issuer's business or corporate structure, including but not limited to, if the Issuer is a registered closed-end investment company, any plans or proposals to make any changes in its investment policy for which a vote is required by Section 13 of the Investment Company Act of 1940;



Page 6


 

changes in the Issuer's charter, bylaws or instruments corresponding thereto or other actions which may impede the acquisition of control of the Issuer by any person;

 

 

 

 

causing a class of securities of the Issuer to be delisted from a national securities exchange or to cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association;

 

 

 

 

a class of equity securities of the Issuer becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Act; or

 

 

 

 

any action similar to any of those enumerated above.

Item 5.  Interest in Securities of the Issuer

As of the date hereof, the Reporting Persons beneficially own the aggregate number and percentage of outstanding Shares set forth below:


Reporting Person

Aggregate Number of Shares
Beneficially Owned

Percentage of Outstanding
Common Shares

Kroll

7,748,162(1)

6.47%(2)

Ascend

1,331,636

1.14%(3)

(1) Consists of the following securities: (i) 3,675,000 Shares held directly; (ii) 1,331,636 Shares held indirectly through Ascend; (iii) 2,732,728 stock options, of which 1,245,455 are exercisable at a price of CDN$0.30 per Share until June 11, 2022, 227,273 are exercisable at a price of CDN$0.80 per Share until December 9, 2022, 5,000 are exercisable at a price of CDN$2.00 per Share until February 17, 2024, 5,000 are exercisable at a price of $9.60 per Share until January 5, 2025, and 1,250,000 are exercisable at $2.45 per Share until August 4, 2026 and (iv) 8,798 deferred stock units.  Kroll has the sole power to vote or direct the vote, and to dispose or direct the disposition, of these securities.

(2) Calculated based on the aggregate of 119,784,490 Shares, which consists of 117,042,964 Shares outstanding as of November 9, 2021, 2,732,728 Shares that may be acquired on exercise of stock options exercisable and 8,798 common shares that may be acquired on exercise of deferred stock units, all within sixty days, pursuant to Rule 13d-3 of the Act.

(3) Calculated based on 117,042,964 Shares issued and outstanding as of November 9, 2021.

Pursuant to the regulations promulgated under Section 13(d) of the Exchange Act, Kroll has sole power to vote or direct the vote and sole power to dispose or to direct the disposition of 1,331,636 Shares owned by Ascend.

Ascend does not have the sole power to vote or direct the vote and sole power to dispose or to direct the disposition of any shares.

Item 6.  Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer

Except as set forth above or set forth in the exhibits and this Schedule 13D, there are no contracts, arrangements, understandings or relationships between reporting persons and any other person with respect to any securities of the Issuer.

Item 7.  Material to Be Filed as Exhibits

10.1 Joint Filing Agreement.


Page 7

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.

Dated: December 23, 2021
/s/ Jerry Kroll

 

Signature

   
  Jerry Kroll

 

Name

 

 

   
Dated: December 23, 2021 ASCEND SPORTMANAGEMENT INC.
   
  /s/ Jerry Kroll

 

Signature

   
  Jerry Kroll, President and CEO

 

Name/Title

The original statement shall be signed by each person on whose behalf the statement is filed or his authorized representative.  If the statement is signed on behalf of a person by his authorized representative (other than an executive officer or general partner of this filing person), evidence of the representative’s authority to sign on behalf of such person shall be filed with the statement, provided, however, that a power of attorney for this purpose which is already on file with the Commission may be incorporated by reference.  The name and any title of each person who signs the statement shall be typed or printed beneath his signature.

Attention:  Intentional misstatements or omissions of fact constitute Federal criminal violations (See 18 U.S.C. 1001).