2022 Q3 Form 10-Q Financial Statement

#000149315222022859 Filed on August 15, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.332M $6.143M $10.95M
YoY Change 22.38% 3675.12% 6942.52%
Cash & Equivalents $4.332M $6.143M $10.95M
Short-Term Investments
Other Short-Term Assets $0.00 $0.00 $310.8K
YoY Change -100.0% -100.0% 458.23%
Inventory
Prepaid Expenses
Receivables $785.5K $795.0K $764.5K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $5.118M $6.938M $12.03M
YoY Change 5.57% 583.8% 4656.92%
LONG-TERM ASSETS
Property, Plant & Equipment $42.99K $43.86K $8.480M
YoY Change -99.59% -99.47% -6.51%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.477M $2.984M
YoY Change 1377.47% 1391.93%
Total Long-Term Assets $23.80M $17.21M $8.480M
YoY Change 122.57% 103.28% -8.53%
TOTAL ASSETS
Total Short-Term Assets $5.118M $6.938M $12.03M
Total Long-Term Assets $23.80M $17.21M $8.480M
Total Assets $28.92M $24.15M $20.51M
YoY Change 86.08% 154.7% 115.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.391M $727.1K $1.672M
YoY Change -51.17% -68.02% 45.31%
Accrued Expenses $352.7K $837.0K $954.5K
YoY Change -71.47% 253.74% 149.47%
Deferred Revenue
YoY Change
Short-Term Debt $130.7K $78.37K $0.00
YoY Change -93.16%
Long-Term Debt Due $5.277M $3.990M $1.929M
YoY Change 154.11% 86.08% -29.36%
Total Short-Term Liabilities $7.190M $5.711M $4.556M
YoY Change 16.67% -1.56% -10.82%
LONG-TERM LIABILITIES
Long-Term Debt $16.39M $11.44M $7.983M
YoY Change 92.35% 571.74% 219.52%
Other Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
Total Long-Term Liabilities $16.39M $11.44M $7.983M
YoY Change 91.21% 538.88% 204.54%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.190M $5.711M $4.556M
Total Long-Term Liabilities $16.39M $11.44M $7.983M
Total Liabilities $23.58M $17.16M $12.54M
YoY Change 60.04% 125.95% 62.21%
SHAREHOLDERS EQUITY
Retained Earnings -$47.88M -$46.37M
YoY Change
Common Stock $70.00 $67.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.335M $6.996M $7.967M
YoY Change
Total Liabilities & Shareholders Equity $28.92M $24.15M $20.51M
YoY Change 86.08% 154.7% 115.31%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1

Facts In Submission

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CY2021Q1 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
500000 usd
CY2021Q1 YAYO Issuance Of Common Stock For Settlement Agreement
IssuanceOfCommonStockForSettlementAgreement
3240600 usd
CY2021Q1 YAYO Issuance Of Common Stock For Financing Cost
IssuanceOfCommonStockForFinancingCost
1440 usd
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Convertible Debt With Conversion Feature
AdjustmentsToAdditionalPaidInCapitalConvertibleDebtWithConversionFeature
30000 usd
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
193587 usd
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-4417663 usd
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
1794018 usd
CY2021Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
71700 usd
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Convertible Debt With Conversion Feature
AdjustmentsToAdditionalPaidInCapitalConvertibleDebtWithConversionFeature
810634 usd
CY2021Q2 YAYO Adjustments To Additional Paid In Capital Convertible Debt
AdjustmentsToAdditionalPaidInCapitalConvertibleDebt
488133 usd
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
457417 usd
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
104387 usd
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-1836674 usd
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
1889615 usd
us-gaap Net Income Loss
NetIncomeLoss
-2707243 usd
us-gaap Net Income Loss
NetIncomeLoss
-6254337 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
535606 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
995123 usd
us-gaap Share Based Compensation
ShareBasedCompensation
48984 usd
us-gaap Share Based Compensation
ShareBasedCompensation
297974 usd
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
152538 usd
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
476891 usd
YAYO Common Stock Issued For Financing Costs
CommonStockIssuedForFinancingCosts
31 usd
YAYO Common Stock Issued For Financing Costs
CommonStockIssuedForFinancingCosts
1440 usd
YAYO Common Stock Issued For Settlement Agreement
CommonStockIssuedForSettlementAgreement
3240600 usd
YAYO Gain On Forgiveness Of Debt
GainOnForgivenessOfDebt
8000 usd
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
160877 usd
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
457417 usd
YAYO Leased Vehicles
LeasedVehicles
-5791286 usd
YAYO Leased Vehicles
LeasedVehicles
47458 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
43587 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
309384 usd
YAYO Increase Decrease In Vehicle Deposits
IncreaseDecreaseInVehicleDeposits
681666 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
1512887 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
147544 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-3057168 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1308562 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-319221 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-163637 usd
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
78372 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-150000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-78900 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-37047 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-13215550 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-244484 usd
us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
47051 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-47051 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
13860175 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
50000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
42328 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
87100 usd
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
503766 usd
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
603766 usd
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
2500000 usd
us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
500000 usd
us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
-48776 usd
us-gaap Payments For Repurchase Of Redeemable Preferred Stock
PaymentsForRepurchaseOfRedeemablePreferredStock
2303750 usd
YAYO Proceeds From Repayment Of Finance Lease Obligations
ProceedsFromRepaymentOfFinanceLeaseObligations
4543261 usd
YAYO Proceeds From Repayment Of Finance Lease Obligations
ProceedsFromRepaymentOfFinanceLeaseObligations
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YAYO Proceeds From Payment Of Deferred Offering Costs
ProceedsFromPaymentOfDeferredOfferingCosts
862855 usd
YAYO Proceeds From Payment Of Deferred Offering Costs
ProceedsFromPaymentOfDeferredOfferingCosts
-35000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
17504869 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
381372 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
4289319 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
89837 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1853928 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
72890 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
6143247 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
162727 usd
us-gaap Interest Paid Net
InterestPaidNet
683739 usd
us-gaap Interest Paid Net
InterestPaidNet
102446 usd
YAYO Payment Of Accounts Payableaccrued Expenses With Common Stock
PaymentOfAccountsPayableaccruedExpensesWithCommonStock
1103750 usd
YAYO Finance Lease Obligations
FinanceLeaseObligations
8532471 usd
YAYO Finance Lease Obligations
FinanceLeaseObligations
3705417 usd
dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2016-06-21
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
YAYO Sales Revenue Percentage Description
SalesRevenuePercentageDescription
sales were up 104% and 84% year-over-year
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84A_eus-gaap--UseOfEstimates_z2khxf9GmADg" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Use of Estimates</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. It is possible that accounting estimates and assumptions may be material to the Company due to the levels of subjectivity and judgment involved.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
64832 usd
us-gaap Income Tax Examination Description
IncomeTaxExaminationDescription
tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded
CY2022Q2 YAYO Operating Lease Right Of Use Asset1
OperatingLeaseRightOfUseAsset1
70147 usd
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
77982 usd
CY2022Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.000001
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5725592 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3521250 shares
us-gaap Advertising Expense
AdvertisingExpense
139021 usd
us-gaap Advertising Expense
AdvertisingExpense
230564 usd
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
77982 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
13150 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
77982 usd
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
77982 usd
CY2022Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
53097 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
53097 usd
CY2022Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
9236 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
7496 usd
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
43861 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
45601 usd
CY2022Q2 YAYO Rental Vehicles Assets Gross
RentalVehiclesAssetsGross
19275855 usd
CY2021Q4 YAYO Rental Vehicles Assets Gross
RentalVehiclesAssetsGross
13514619 usd
CY2022Q2 YAYO Accumulated Depreciation Leased Assets
AccumulatedDepreciationLeasedAssets
5161116 usd
CY2021Q4 YAYO Accumulated Depreciation Leased Assets
AccumulatedDepreciationLeasedAssets
4627300 usd
CY2022Q2 YAYO Rental Vehicles Net
RentalVehiclesNet
14114739 usd
CY2021Q4 YAYO Rental Vehicles Net
RentalVehiclesNet
8887319 usd
us-gaap Property Plant And Equipment Useful Life
PropertyPlantAndEquipmentUsefulLife
P5Y
CY2022Q2 YAYO Notes Payable Gross
NotesPayableGross
8000000 usd
CY2021Q4 YAYO Notes Payable Gross
NotesPayableGross
7500000 usd
CY2022Q2 us-gaap Debt Instrument Unamortized Discount Noncurrent
DebtInstrumentUnamortizedDiscountNoncurrent
1097912 usd
CY2021Q4 us-gaap Debt Instrument Unamortized Discount Noncurrent
DebtInstrumentUnamortizedDiscountNoncurrent
1246566 usd
CY2022Q2 us-gaap Notes Payable
NotesPayable
6402088 usd
CY2021Q4 us-gaap Notes Payable
NotesPayable
6253434 usd
CY2022Q2 us-gaap Notes Payable Current
NotesPayableCurrent
843750 usd
CY2021Q4 us-gaap Notes Payable Current
NotesPayableCurrent
156225 usd
CY2022Q2 us-gaap Long Term Notes Payable
LongTermNotesPayable
6058338 usd
CY2021Q4 us-gaap Long Term Notes Payable
LongTermNotesPayable
6097209 usd
CY2022Q2 us-gaap Capital Units Authorized
CapitalUnitsAuthorized
100000000 shares
CY2021Q4 YAYO Note Payable Gross
NotePayableGross
7500000 usd
CY2022Q2 YAYO Note Payable Gross
NotePayableGross
7500000 usd
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
156225 usd
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
374940 usd
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
374940 usd
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
374940 usd
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
6218955 usd
CY2022Q2 us-gaap Long Term Debt
LongTermDebt
7500000 usd
CY2022Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
8532471 usd
CY2021Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
3989210 usd
CY2022Q2 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
3146230 usd
CY2021Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
1810374 usd
CY2022Q2 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
5386241 usd
CY2021Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
2178836 usd
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted
625000 shares
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
5207842 shares
CY2022Q2 YAYO Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Weighted Average Exercise Price One
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePriceOne
2.22
CY2022Q2 YAYO Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Weighted Average Remaining Contractual Term Ending
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageRemainingContractualTermEnding
P3Y2M15D
CY2022Q2 YAYO Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisableNumber
5207842 shares
CY2022Q2 YAYO Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisableWeightedAverageExercisePrice
2.22
CY2022Q2 YAYO Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Exercisable Weighted Average Remaining Contractual Term1
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingExercisableWeightedAverageRemainingContractualTerm1
P3Y2M15D
CY2021Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
3989210 usd
CY2022Q1 YAYO Additional Lease Vehicle Obligations
AdditionalLeaseVehicleObligations
1303487 usd
CY2022Q1 YAYO Disposal Of Leased Vehicles
DisposalOfLeasedVehicles
-1229692 usd
CY2022Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
405764 usd
CY2022Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
3658241 usd
CY2022Q2 YAYO Additional Lease Vehicle Obligations
AdditionalLeaseVehicleObligations
6663000 usd
CY2022Q2 YAYO Disposal Of Leased Vehicles
DisposalOfLeasedVehicles
-296823 usd
CY2022Q2 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
1491947 usd
CY2022Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
8532471 usd
CY2022Q2 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
2136231 usd
CY2022Q2 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
4128219 usd
CY2022Q2 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
3068665 usd
CY2022Q2 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
1229244 usd
CY2022Q2 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
80548 usd
CY2022Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
10642907 usd
CY2022Q2 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
2110436 usd
CY2022Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
8532471 usd
CY2022Q2 YAYO Number Of Shares Warrants Outstanding And Exercisable
NumberOfSharesWarrantsOutstandingAndExercisable
5207842 shares
CY2022Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
70147 usd
CY2022Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
90000000 shares
CY2022Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.000001
CY2022Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2022Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.000001
us-gaap Debt Instrument Convertible Threshold Percentage Of Stock Price Trigger
DebtInstrumentConvertibleThresholdPercentageOfStockPriceTrigger
0.70 pure
CY2022Q2 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
662000 shares
CY2022Q2 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
569250 shares
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
0.59
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Other Share Increase Decrease In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsOtherShareIncreaseDecreaseInPeriodWeightedAverageExercisePrice
0.56
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
49088 usd
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
212694 usd
YAYO Unamortized Stock Option Expense
UnamortizedStockOptionExpense
50179 usd
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
3918750 shares
CY2021Q4 YAYO Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Weighted Average Exercise Price One
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePriceOne
2.87
CY2022Q1 YAYO Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Weighted Average Remaining Contractual Term Beginning
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageRemainingContractualTermBeginning
P3Y2M1D
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted
664092 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
4582842 shares
CY2022Q1 YAYO Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Weighted Average Exercise Price One
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePriceOne
2.47
CY2022Q1 YAYO Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Weighted Average Remaining Contractual Term Ending
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageRemainingContractualTermEnding
P3Y5M23D
CY2022Q1 YAYO Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisableNumber
4582842 shares
CY2022Q1 YAYO Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisableWeightedAverageExercisePrice
2.47
CY2022Q1 YAYO Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Exercisable Weighted Average Remaining Contractual Term1
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingExercisableWeightedAverageRemainingContractualTerm1
P3Y5M23D
us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
1013516 usd
us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
1618441 usd
us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
<p id="xdx_807_eus-gaap--LossContingencyDisclosures_zb4aZML3lGth" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 10 – <span id="xdx_829_zEOwptYn1FPj">Contingencies</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Legal Proceedings</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">From time to time, the Company may become involved in lawsuits and other legal proceedings that arise in the course of business. Litigation is subject to inherent uncertainties, and it is not possible to predict the outcome of litigation with total confidence. The Company is currently not aware of any litigation or asserted potential litigation against it whose outcome would be likely, individually or in the aggregate, to have a material adverse effect on the Company’s business, financial condition, operating results, or cash flows, other than those described below.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Anthony Davis v. YayYo, Inc., and Ramy El-Batrawi</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A complaint was filed on March 5, 2020, in the Los Angeles Superior Court by plaintiff Anthony Davis, who was hired by the Company as its CEO and as a director on or about December 2016. Mr. Davis’s employment with the Company ended after several months. As part of his compensation, Mr. Davis alleges that he expected to receive stock options in the Company. In his pleadings, Mr. Davis admits that he resigned from his executive officer and director positions, but asserts that he did not receive certain compensation in the form of stock options (he has also included a claim for wage and hour violations). The Company denies liability and has asserted that it has paid Mr. Davis all amounts due to him under his employment agreement, while also asserting that Mr. Davis failed to exercise his stock options before they expired on December 31, 2018. The Company filed a demurrer to the first amended complaint, which the Superior Court granted in part and denied in part on September 8, 2021. The Plaintiff has since filed a second amended complaint, to which the Company has filed an answer. The Company’s position is that the lawsuit entirely lacks merit, and the Company intends to defend it vigorously.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Ivan Rung v. YayYo, Inc., Ramy El-Batrawi, et al., 20STCV27876 and Michael Vanbecelaere v. YayYo, Inc., Ramy El-Batrawi, et al., 20STCV28066 (Vanbecelaere)(hereafter the “State Cases”)</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 22 and July 23, 2020, respectively, two actions were filed in the Los Angeles Superior Court. The complaints underlying the State Cases differ from the consolidated federal securities cases discussed below (<i>In re YayYo Securities Litigation</i>) only by a few words and some random punctuation marks, and are therefore virtually identical. The State Cases litigation was stayed pending the outcome of the federal securities cases, as to which, as noted below, the parties announced a settlement in principle last year. Please see Note 12- “Subsequent Events” for further information regarding the final disposition of the State Cases litigation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Jason Hamlin v. YayYo, Inc., Ramy El-Batrawi, et al., 20-cv-8235 (SVW) and William Koch v. YayYo, Inc., Ramy El-Batrawi, et al., 20-cv-8591 (SVW)(now consolidated as “In re YayYo Securities Litigation”)</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These two actions were filed on September 9, 2020 and September 18, 2020, respectively, in the United States District Court for the Central District of California. Plaintiffs Jason Hamlin and William Koch each claim to have purchased the Common Stock as part of the IPO and, like the plaintiffs in the State Cases, purport to bring a securities class action pursuant to Sections 11 and 15 of the Securities Act, as well as and Section 17(a) and 10(b)(5) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) on behalf of all purchasers of the Common Stock in the IPO. The first amended complaint, like the State Cases, alleges false statements and material omissions of material fact in connection with the SEC filings distributed in connection with the IPO. The defendants include directors of the Company and the underwriters of the IPO, WestPark Capital, Inc. (“WestPark”) and Aegis Capital Corp. The federal court consolidated the two matters for all practical purposes. As with the State Cases, the Company denied liability and asserted that it accurately and completely disclosed all material facts and circumstances in its SEC filings, and that the complaint’s alleged violations of securities laws are baseless. The parties to the federal court litigation announced on October 21, 2021 that they had reached a settlement, which received preliminary approval by the district court on January 13, 2022, allowing the notice of the proposed settlement to be distributed to all class members, who unless they object or drop out, will be bound by the multi-million dollar settlement. The Company’s portion of the settlement was $<span id="xdx_905_eus-gaap--LitigationSettlementExpense_pn6n6_c20220113__20220113_zubUwcyrKGCh" title="Litigation settlement">1</span> million paid out in equal installments every three months over the course of 2022. These payments have been and will continue to be timely made. Executive Chairman Terren Peizer provided his personal guarantee for the whole amount due to the plaintiffs. Please see Note 12- “Subsequent Events” for further information regarding the final disposition of this litigation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>EVmo, Inc.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes to Consolidated Financial Statements</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>For Year Three Months Ended March 31, 2022 and 2021 (unaudited)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Konop v. El-Batrawi, et al., 1:20-cv-1379- MN (Filed in Del. District Court)</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On October 12, 2020 a complaint was filed in Delaware District Court, which has since been transferred to the U.S. District Court for the Central District of California, and assigned as a related case to the judge in the pending federal securities action described immediately above. This case is a purported shareholder derivative action, in which the Company is a nominal defendant, alleging that the Company’s executive officers and directors at the time of its IPO made false and misleading statements relating to the Company’s business, operations, and future prospects and that the directors breached their fiduciary duties in doing so. The Company believes that the allegations of the complaint are spurious and will vigorously defend the case at trial.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Bellridge Capital, LP, v. EVmo, Inc., 1:21-cv-07091-PGG (Filed in Southern District of New York)</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In the first half of 2021, a warrant holder, Bellridge Capital, LP, sought to exercise a warrant for <span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_c20210101__20210630__srt--TitleOfIndividualAxis__custom--WarranHolderMember_pdd" title="Numer of warrants to be exercised">1,500,000</span> shares, with a stated exercise price of $<span id="xdx_90E_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_c20210630__srt--TitleOfIndividualAxis__custom--WarranHolderMember_pdd" title="Warrant exercise price">4.00</span> per share, for a nominal amount, claiming that an anti-dilution adjustment had been triggered in 2020, which had reduced the exercise price to such amount. The Company rejected the exercise, on the basis that the warrant had previously been amended to remove that anti-dilution adjustment. In September 2021, the warrant holder brought suit for damages in the Southern District of New York. It is the Company’s position that the lawsuit is without merit, and the Company is vigorously defending the lawsuit. This lawsuit is currently in the discovery phase.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q1 us-gaap Litigation Settlement Expense
LitigationSettlementExpense
1000000 usd
CY2022Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
usd

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