8-K - FABC - Equibles

UNITEDSTATES

SECURITIESAND EXCHANGE COMMISSION

Washington,D.C. 20549

FORM8-K

CurrentReport

Pursuantto Section 13 or 15(d) of the

SecuritiesExchange Act of 1934

Dateof Report (Date of earliest event reported): May 18, 2020

DropCar,Inc.

(Exactname of Registrant as specified in its charter)

Delaware	001-34643	98-0204758
(State or other jurisdiction<br><br> <br>of incorporation)	(Commission<br><br> <br>File No.)	(IRS Employer<br><br> <br>Identification No.)

DropCar,Inc.

1412Broadway, Suite 2105

NewYork, New York 10018

(Addressof principal executive offices and zip code)

Registrant’stelephone number, including area code: (646) 342-1595

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<br> communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ]	Soliciting<br> material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ]	Pre-commencement<br> communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ]	Pre-commencement<br> communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Title<br> of each class	Trading<br> Symbol(s)	Name<br> of each exchange on which registered
---	---	---
Common<br> stock, par value $0.0001 per share	DCAR	The<br> Nasdaq Stock Market

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. [ ]

Item8.01. Other Events

As previously disclosed by DropCar, Inc., a Delaware corporation (the “Company”) in its Quarterly Report on Form 10-Q for the fiscal period ended March 31, 2020, DropCar Operating Company, Inc. (the “Borrower”), a Delaware corporation and wholly owned subsidiary of the Company, previously entered into a U.S. Small Business Administration Paycheck Protection Program promissory note in the principal amount of $345,294 payable to Chase Bank (the “Bank”) evidencing a PPP loan from the Bank (the “PPP Loan”). The Board of Directors (the “Board”) of the Company subsequently agreed to evaluate whether to return any of the PPP Loan funds in connection with its review of the financing needs of the Company and the Borrower. On May 18, 2020, the Board determined that the Borrower would repay and return the entire amount of the PPP Loan to the Bank. The PPP Loan was returned in full on May 18, 2020.

SIGNATURES

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.

	DROPCAR, INC.
Date:<br> May 19, 2020	By:	/s/ Joshua Silverman
	Name:	Joshua<br> Silverman
	Title:	Chairman<br> of the Board of Directors