13D Filing: Alpha Capital Anstalt and Dropcar Inc. (WPCS)

 

SCHEDULE
13D

 

CUSIP
NO:

 

ITEM 1.

SECURITY AND ISSUER.

 

(i) Common Stock, par value $.0001 per share

(ii) 1,234 Series H-3 Preferred Stock, par
value $.0001 per share

(iii) Warrants acquired on January
30, 2018:

38,860 Warrants expiring on 4/5/22

29,145 Warrants expiring on 8/29/22

25,907 Warrants expiring on 10/9/22

68,005 Warrants expiring on 11/14/22

for an aggregate of 161,917 Warrants all exercisable
at $9.84

DropCar, Inc. (f/k/a WPCS International Incorporated)

Address: 521 Railroad Avenue, Suisun City, CA 94585

 

ITEM 2.

IDENTITY AND BACKGROUND.

 

Alpha
Capital Anstalt

Lettstrasse
32

9490
Vaduz, Liechtenstein

Citizenship
– Liechtenstein

 

ITEM 3.

SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.

 

In connection with a Securities Purchase Agreement dated March 30, 2017, Alpha Capital Anstalt (“Alpha”)
was issued 1,234 Series H Preferred Stock. Pursuant to a merger agreement effective as of January 30, 2018, Alpha was issued 1,348,123
shares of Common Stock and an aggregate 161,917 Warrants with an exercise price of $9.84 per share. All of the foregoing securities
issued to Alpha contain a 9.99% “blocker” provision designed to prevent Alpha from being a beneficial owner of more
than 9.99% of the Issuer’s Common Stock.

 

ITEM 4.

PURPOSE OF TRANSACTION.

 

See
Item 3 above.

 

ITEM 5.

INTEREST IN SECURITIES OF THE ISSUER.

 

1,400,375, 17.93% *

 

See
Item 3 above

 

ITEM 6.

CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS, OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER.

 

None.

 

ITEM 7.

MATERIALS TO BE FILED AS EXHIBITS.

 

None.