Item 8.01 Other Events.

On February 17, 2023, EVmo, Inc., a Delaware corporation (the "Company") filed a Form 8-K under Item 8.01 (the "Original Report") to report that, as of February 10, 2023, Terren S. Peizer, then the executive chairman of the board of directors of the "Company, had agreed to provide short-term liquidity financing to the Company in the amount of $1,000,000. As consideration for Mr. Peizer's action, the Company issued to Mr. Peizer a secured promissory note (the "Note"), in the principal amount of $1,600,000, which was then exchanged for an earlier promissory note in the principal amount of $600,000, issued by the Company to Mr. Peizer on September 30, 2022, as described in a current report on Form 8-K filed by the Company on October 6, 2022, which earlier note was then cancelled.

As of February 22, 2023, the Company and Mr. Peizer have mutually agreed to amend the Note as follows:





  ? To clarify that the holder of the Note is Acuitas Group Holdings, LLC, a
    California limited liability company, of which Mr. Peizer is the sole member
    and chairman, and which acts as his personal investment vehicle ("Acuitas");

  ? To add a convertibility feature to the Note, which will enable Acuitas to
    convert the Note at the option of Mr. Peizer at any time during the life of
    the Note, at a conversion price of $0.1156 per common share; and

  ? To change the warrant coverage provision of the Note to clarify that Acuitas
    has received a common stock purchase warrant that enables it to purchase up to
    13,840,830 shares of the common stock of the Company, par value $0.000001 per
    share, at an exercise price per share of $0.1156 (the "Warrant").

No other provisions of the Note have been amended. The Note and the Warrant were issued in reliance on the exemption from registration pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended.

© Edgar Online, source Glimpses