Ayro (AYRO) 10-K 1 Apr 24 2023 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Dec. 31, 2023	Mar. 29, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2023
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--12-31
Entity File Number	001-34643
Entity Registrant Name	AYRO, INC.
Entity Central Index Key	0001086745
Entity Tax Identification Number	98-0204758
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	900 E. Old Settlers Boulevard
Entity Address, Address Line Two	Suite 100
Entity Address, City or Town	Round Rock
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	78664
City Area Code	512
Local Phone Number	994-4917
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	AYRO
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 24,515,119
Entity Common Stock, Shares Outstanding		4,937,678
Documents Incorporated by Reference [Text Block]	Portions of the definitive proxy statement of AYRO, Inc. relating to the 2024 annual meeting of stockholders to be filed within 120 days after the end of the fiscal year covered by this Annual Report on Form 10-K, are incorporated into Part III of this Annual Report on Form 10-K by reference.
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Auditor Firm ID	688
Auditor Name	Marcum LLP
Auditor Location	East Hanover, New Jersey

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 33,440,867	$ 39,096,562
Restricted cash	10,000,000
Marketable securities		9,848,804
Accounts receivable, net of allowance for credit losses of $53,696 and $2,349 at December 31, 2023 and 2022, respectively	219,000	510,071
Inventory	3,431,982	970,381
Prepaid expenses and other current assets	1,887,782	1,478,845
Total current assets	48,979,631	51,904,663
Property and equipment, net	3,117,164	2,192,337
Operating lease – right-of-use asset	671,451	819,401
Deposits and other assets	95,532	73,683
Total assets	52,863,778	54,990,084
Current liabilities:
Accounts payable	2,456,258	1,107,215
Accrued expenses and other current liabilities	1,656,541	964,937
Current portion lease obligation – operating lease	196,682	165,767
Total current liabilities	4,309,481	2,237,919
Derivative liability	9,400,000
Warrant liability	13,319,800
Lease obligation - operating lease, net of current portion	502,831	693,776
Total liabilities	27,532,112	2,931,695
Commitments and contingencies (Note 13)
MEZZANINE EQUITY
Convertible redeemable preferred stock Series H-7, ($0.0001 par value and $1,000 face value; authorized - 22,000 shares; issued and outstanding - 22,000 and 0 shares, at December 31, 2023 and 2022, respectively). Liquidation preference of $24,756,642 as of December 31, 2023	11,193,939
STOCKHOLDERS’ EQUITY
Preferred stock , value
Common Stock, ($0.0001 par value; authorized – 200,000,000 shares; issued and outstanding – 4,913,907 and 4,655,205 shares, at December 31, 2023 and 2022, respectively)	492	466
Additional paid-in capital	129,467,274	133,227,507
Accumulated deficit	(115,330,039)	(81,169,584)
Total stockholders’ equity	14,137,727	52,058,389
Total liabilities, mezzanine equity and stockholders’ equity	52,863,778	54,990,084
Convertible Preferred Stock Series H [Member]
STOCKHOLDERS’ EQUITY
Preferred stock , value
Convertible Preferred Stock Series H-3 [Member]
STOCKHOLDERS’ EQUITY
Preferred stock , value
Convertible Preferred Stock Series H-6 [Member]
STOCKHOLDERS’ EQUITY
Preferred stock , value

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Accounts receivable, net of allowance for credit losses	$ 53,696	$ 2,349
Preferred stock, shares authorized	20,000,000	20,000,000
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	4,913,907	4,655,205
Common stock, shares outstanding	4,913,907	4,655,205
Series H-7 Convertible Preferred Stock [Member]
Temporary stock, par value	$ 0.0001
Temporary stock, face value	$ 1,000	$ 1,000
Temporary stock, shares authorized	22,000
Temporary stock, shares issued	22,000	0
Temporary stock, shares outstanding	22,000	0
Temporary stock, liquidation preference	$ 24,756,642
Convertible Preferred Stock Series H [Member]
Preferred stock, shares authorized	8,500	8,500
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares issued	8	8
Preferred stock, shares outstanding	8	8
Preferred stock, liquidation preference	$ 2
Convertible Preferred Stock Series H-3 [Member]
Preferred stock, shares authorized	8,461	8,461
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares issued	1,234	1,234
Preferred stock, shares outstanding	1,234	1,234
Preferred stock, liquidation preference	$ 227
Convertible Preferred Stock Series H-6 [Member]
Preferred stock, shares authorized	50,000	50,000
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares issued	50	50
Preferred stock, shares outstanding	50	50
Preferred stock, liquidation preference	$ 1,100

Consolidated Statement of Opera

Consolidated Statement of Operations - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Statement [Abstract]
Revenue	$ 498,917	$ 2,990,497
Cost of goods sold	5,133,996	6,043,506
Gross loss	(4,635,079)	(3,053,009)
Operating expenses:
Research and development	7,418,026	6,845,451
Sales and marketing	1,721,191	1,874,658
General and administrative	14,382,132	11,503,788
Total operating expenses	23,521,349	20,223,897
Loss from operations	(28,156,428)	(23,276,906)
Other income (expense):
Interest income	441,443	182,276
Change in fair value - warrant liability	(3,350,320)
Change in fair value - derivative liability	(4,253,000)
Unrealized gain (loss) on marketable securities	215,900	(1,713)
Realized gain on marketable securities	941,950	160,990
Total other income (expense), net	(6,004,027)	341,553
Net loss prior to provision for income taxes	(34,160,455)	(22,935,353)
Provision for income taxes
Net loss	(34,160,455)	(22,935,353)
Preferred stock dividends	(697,991)
Accretion of discounts to redemption value of H-7 convertible preferred stock	(3,980,274)
Deemed dividend (Series H-5 warrants)	(199,000)
Net loss attributable to common stockholders	$ (39,037,720)	$ (22,935,353)
Net loss per share, basic	$ (8.19)	$ (4.95)
Net loss per share, diluted	$ (8.19)	$ (4.95)
Weighted average common stock outstanding, basic	4,764,494	4,631,122
Weighted average common stock outstanding, diluted	4,764,494	4,631,122

Consolidated Statement of Chang

Consolidated Statement of Changes in Mezzanine Equity and Stockholders' Equity - USD ($)	Series H 7 Preferred Stock [Member] Preferred Stock [Member]	Series H Preferred Stock [Member] Preferred Stock [Member]	Series H-3 Preferred Stock [Member] Preferred Stock [Member]	Series H-6 Preferred Stock [Member] Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Temporary equity, balance, shares at Dec. 31, 2021
Temporary equity, balance at Dec. 31, 2021
Balance at Dec. 31, 2021					$ 461	$ 131,658,002	$ (58,234,231)	$ 73,424,232
Balance, shares at Dec. 31, 2021		8	1,234	50	4,608,370
Stock based compensation						65,291		65,291
Vested Restricted Stock					$ 5	1,504,214		1,504,219
Vested Restricted Stock, shares					46,835
Net Loss							(22,935,353)	(22,935,353)
Temporary equity, balance, shares at Dec. 31, 2022
Temporary equity, balance at Dec. 31, 2022
Balance at Dec. 31, 2022					$ 466	133,227,507	(81,169,584)	52,058,389
Balance, shares at Dec. 31, 2022		8	1,234	50	4,655,205
Stock based compensation						59,624		59,624
Vested Restricted Stock					$ 9	858,425		858,434
Vested Restricted Stock, shares					85,172
Net Loss							(34,160,455)	(34,160,455)
Temporary equity, Issuance of convertible preferred stock, net of discounts and transaction costs of $15,484,324, shares	22,000
Temporary equity, Issuance of convertible preferred stock, net of discounts and transaction costs of $15,484,324	$ 6,515,674
Issuance of convertible preferred stock, net of discounts and transaction costs of $15,484,324
Issuance of rounded shares as a result of the reverse stock split.					$ 17	(17)
Issuance of rounded shares as a result of the reverse stock split, shares					173,530
Temporary equity, Dividends (Accrued Series H-7 Preferred)	697,991
Dividends (Accrued Series H-7 Preferred)						(697,991)		(697,991)
Temporary equity, Accretion of discounts to redemption value of H-7 convertible preferred stock	3,980,274
Accretion of discounts to redemption value of H-7 convertible preferred stock						(3,980,274)		(3,980,274)
Deemed dividend (Series H-5 Warrants)
Temporary equity, balance, shares at Dec. 31, 2023	22,000
Temporary equity, balance at Dec. 31, 2023	$ 11,193,939							11,193,939
Balance at Dec. 31, 2023					$ 492	$ 129,467,274	$ (115,330,039)	$ 14,137,727
Balance, shares at Dec. 31, 2023		8	1,234	50	4,913,907

Consolidated Statement of Cha_2

Consolidated Statement of Changes in Mezzanine Equity and Stockholders' Equity (Parenthetical)	Dec. 31, 2023 USD ($)
Statement of Stockholders' Equity [Abstract]
Preferred stock, net of discounts and transaction costs	$ 15,484,324

Consolidated Statement of Cash

Consolidated Statement of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (34,160,455)	$ (22,935,353)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	1,093,039	762,206
Stock-based compensation	918,058	1,240,129
Change in fair value - derivative liability	4,253,000
Change in fair value - warrant liability	3,350,320
Amortization of right-of-use asset	147,950	193,483
Bad debt expense	344,492	4,485
Unrealized (gain) loss on marketable securities	(215,900)	1,713
Realized gain on marketable securities	(941,950)	(160,990)
Impairment of inventory	3,048,485	2,476,322
Realized loss on sale of fixed assets	40,181
Change in operating assets and liabilities:
Accounts receivable	(53,421)	454,873
Inventory	(5,510,086)	830,845
Prepaid expenses and other current assets	(408,937)	(581,846)
Deposits and other assets	500	18,797
Accounts payable	1,349,043	445,165
Accrued expenses and other current liabilities	724,246	(1,272,046)
Lease obligations - operating leases	(160,030)	(206,426)
Net cash used in operating activities	(26,181,465)	(18,728,643)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment	(2,142,836)	(1,588,689)
Proceeds from sale of marketable securities, net	11,006,654	(9,689,526)
Purchase of intangible assets	(40,704)	(57,046)
Proceeds from sale of fixed assets	70,500
Net cash provided by (used in) investing activities	8,893,614	(11,335,261)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from private placement of preferred stock, net of transaction costs	21,632,156
Net cash provided by financing activities	21,632,156
Net change in cash, cash equivalents and restricted cash	4,344,305	(30,063,904)
Cash, cash equivalents and restricted cash, beginning of the year	39,096,562	69,160,466
Cash, cash equivalents and restricted cash, end of the year	43,440,867	39,096,562
Supplemental disclosure of cash and non-cash transactions:
Accrual of Series H-7 Convertible Preferred Stock Dividends	697,991
Restricted Stock issued previously accrued		329,380
Initial fair value of warranty liability	9,969,480
Initial fair value of derivative liability	5,147,000
Deemed Dividend H-5 Warrants	199,000
Accretion of discounts to redemption value of H-7 convertible preferred stock	3,980,274
Accrued fixed assets	32,642	348,932
Supplemental disclosure of restricted cash:
Cash and cash equivalents	33,440,867	39,096,562
Restricted Cash	10,000,000
Total cash, cash equivalents and restricted cash	$ 43,440,867	$ 39,096,562

ORGANIZATION AND NATURE OF OPER

ORGANIZATION AND NATURE OF OPERATIONS	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND NATURE OF OPERATIONS	NOTE 1. ORGANIZATION AND NATURE OF OPERATIONS AYRO, Inc. (“AYRO” or the “Company”), a Delaware corporation formerly known as DropCar, Inc. (“DropCar”), a corporation headquartered outside Austin, Texas, is the merger successor discussed below of AYRO Operating Company, Inc. (“AYRO Operating”), which was formed under the laws of the State of Texas on May 17, 2016 as Austin PRT Vehicle, Inc. and subsequently changed its name to Austin EV, Inc. under an Amended and Restated Certificate of Formation filed with the State of Texas on March 9, 2017. On July 24, 2019, the Company changed its name to AYRO, Inc. and converted its corporate domicile to Delaware. The Company was founded on the basis of promoting resource sustainability. The Company, and its wholly owned subsidiaries, are principally engaged in manufacturing and sales of environmentally conscious, minimal-footprint electric vehicles. The all-electric vehicles are typically sold both directly to customers and to dealers in the United States. Reverse Stock Split On September 15, 2023, the Company effected a one-for-eight reverse stock split of the Company’s common stock (the “Reverse Stock Split”). All share and per share information in this annual report have been retroactively adjusted to reflect the Reverse Stock Split. Strategic Review Following the hiring of our former Chief Executive Officer in the third quarter of 2021, we initiated a strategic review of our product development strategy, as we focus on creating value within the electric vehicle, last-mile delivery, smart payload and enabling infrastructure markets. In connection with our strategic review, we have cancelled all material research and development activity and expenditures, associated with our planned next-generation three-wheeled high speed vehicle. For the past several years, our primary supplier has been Cenntro Automotive Group, Ltd. (“Cenntro”), which operates a large electric vehicle factory in the automotive district in Hangzhou, China. As a result of rising shipping costs, quality issues with certain components and persistent delays, we ceased production of the 411x from Cenntro in September 2022 in order to focus our resources on the development and launch of the new 411 fleet vehicle model year 2023 refresh, the Vanish. We began design and development of the Vanish in December 2021, including updates to our supply chain, the offshoring/onshoring mix, our manufacturing strategy, and our annual model year refresh program. We commenced low-rate initial production of the Vanish in the second quarter of 2023 and commenced initial sales and delivery of the Vanish in the third quarter of 2023. On January 31, 2024, we implemented an internal restructuring in order to achieve greater efficiency in pursuit of our strategic goals. As part of the restructuring, amongst other things, we eliminated a substantial number of positions as we re-evaluate our sales, marketing and manufacturing functions.

LIQUIDITY AND OTHER UNCERTAINTI

LIQUIDITY AND OTHER UNCERTAINTIES	12 Months Ended
	Dec. 31, 2023
Liquidity And Other Uncertainties
LIQUIDITY AND OTHER UNCERTAINTIES	NOTE 2. LIQUIDITY AND OTHER UNCERTAINTIES The consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States (“GAAP”), which contemplates continuation of the Company as a going concern. The Company is subject to a number of risks similar to those of earlier stage commercial companies, including dependence on key individuals and products, the difficulties inherent in the development of a commercial market, the potential need to obtain additional capital, competition from larger companies, other technology companies and other technologies. The Company has a limited operating history and the sales and income potential of its business and market are unproven. As of December 31, 2023, the Company had cash and cash equivalents balance totaling $ 33,440,867 and restricted cash of $ 10,000,000 . The Company incurred net losses of $ 34,160,455 and $ 22,935,353 and negative cash flows used in operations of $ 26,181,465 18,728,643 for the years ended December 31, 2023 and 2022, respectively. In addition, overall working capital decreased by $ 4,996,594 during the year ended December 31, 2023. Management believes that the existing cash at December 31, 2023 will be sufficient to fund operations for at least the next twelve months following the issuance of these consolidated financial statements. AYRO, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS On August 7, 2023, the Company entered into a Securities Purchase Agreement (the “Purchase Agreement”), pursuant to which it agreed to sell to certain existing investors (the “Investors”) in a private placement (the “Private Placement”) (i) an aggregate of 22,000 0.0001 1,000 2,750,000 22 The certificate of designations for the Series H-7 Preferred Shares (the “Certificate of Designations”) contains certain restrictive provisions, including (i) a requirement to maintain unencumbered, unrestricted cash and cash equivalents on hand in an amount equal to (a) until December 31, 2023, at least $20,000,000 plus the net proceeds from the sale of the Series H-7 Preferred Shares pursuant to the Purchase Agreement, and (b) from January 1, 2024 and until an aggregate of eighty percent (80%) of the Series H-7 Preferred Shares have been converted into shares of common stock, at least $21,000,000, and (ii) a requirement to deposit an amount equal to $ 10,000,000 The Company may experience increases in the cost or a sustained interruption in the supply or shortage of raw materials, including lithium-ion battery cells, semiconductors, and integrated circuits. Any such increase or supply interruption could materially negatively impact the business, prospects, financial condition and operating results. Currently, the Company is experiencing supply chain shortages, including with respect to lithium-ion battery cells, integrated circuits, vehicle control chips, and displays. Certain production-ready components may be delayed in shipment to company facilities which has and may continue to cause delays in validation and testing for these components, which would in turn create a delay in the availability of salable vehicles. The Company uses various raw materials, including aluminum, steel, carbon fiber, non-ferrous metals (such as copper), and cobalt. The prices for these raw materials fluctuate depending on market conditions, and global demand and could adversely affect business and operating results. For instance, the Company is exposed to multiple risks relating to price fluctuations for lithium-ion cells. These risks include: ● the inability or unwillingness of current battery manufacturers to build or operate battery cell manufacturing plants to supply the numbers of lithium-ion cells required to support the growth of the electric vehicle industry as demand for such cells increases; ● disruption in the supply of cells due to quality issues or recalls by the battery cell manufacturers; and ● an increase in the cost of raw materials, such as cobalt, used in lithium-ion cells. Any disruption in the supply of lithium-ion battery cells, semiconductors, or integrated circuits could temporarily disrupt production of the Company’s vehicles until a different supplier is fully qualified. Moreover, battery cell manufacturers may refuse to supply electric vehicle manufacturers if they determine that the vehicles are not sufficiently safe. Furthermore, fluctuations or shortages in petroleum and other economic conditions may cause the Company to experience significant increases in freight charges and raw material costs. Substantial increases in the prices for our raw materials would increase operating costs and could reduce our margins if the increased costs cannot be recouped through increased electric vehicle prices. There can be no assurance that the Company will be able to recoup increasing costs of raw materials by increasing vehicle prices. AYRO, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS We have made certain indemnities, under which we may be required to make payments to an indemnified party, in relation to certain transactions. We indemnify our directors and officers to the maximum extent permitted under the laws of the State of Delaware. In connection with our facility leases, we have indemnified our lessors for certain claims arising from the use of the facilities. The duration of the indemnities vary and, in many cases, are indefinite. These indemnities do not provide for any limitation of the maximum potential future payments we could be obligated to make. Historically, we have not been obligated to make any payments for these obligations and no liabilities have been recorded for these indemnities.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Principles of Consolidation The Company’s financial statements have been prepared in conformity with GAAP as determined by Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”). The consolidated financial statements represent the consolidation of the accounts of the Company and its subsidiary in conformity with GAAP. All intercompany accounts and transactions have been eliminated in consolidation. Use of Estimates The preparation of the consolidated financial statements, in conformity with GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. The Company’s most significant estimates include revenue recognition, the measurement of stock-based compensation expenses, warranty reserve, and the inputs used in the fair value measurements of warrant and derivative liabilities. Actual results could differ from these estimates. Cash and Cash Equivalents The Company considers all highly-liquid investments purchased with a maturity of three months or less at the time of purchase to be cash equivalents, including balances held in the Company’s money market accounts. The Company maintains total cash balances in one account which may exceed the federally insured limits. Management does not believe this results in any significant credit risk. Restricted Cash As of December 31, 2023, cash of $ 10,000,000 Marketable Securities Marketable securities include investment in fixed income bonds and U.S. Treasury securities that are considered to be highly liquid and easily tradable. The Company applies Accounting Standards Codification (“ASC”) 320, Investments—Debt and Equity Securities, 0 9,848,804 Derivative Financial Instruments The Company evaluates all its financial instruments to determine if such instruments contain features that qualify as embedded derivatives. Embedded derivatives must be separately measured from the host contract if all the requirements for bifurcation are met. The assessment of the conditions surrounding the bifurcation of embedded derivatives depends on the nature of the host contract. Bifurcated embedded derivatives are recognized at fair value, with changes in fair value recognized in the statement of operations each period. Bifurcated embedded derivatives are classified with the related host contract in the Company’s balance sheet. These particular derivatives are assessed under ASC 480 and ASC 815. AYRO, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Fair Value Measurements In accordance with ASC 820 (Topic 820, Fair Value Measurements and Disclosures), the company uses a three-level hierarchy for fair value measurements of certain assets and liabilities for financial reporting purposes that distinguishes between market participant assumptions developed from market data obtained from outside sources (observable inputs) and our own assumptions about market participant assumptions developed from the best information available to us in the circumstances (unobservable inputs). The fair value hierarchy is divided into three levels based on the source of inputs as follows: ● Level 1 – inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets; ● Level 2 – inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability other than quoted prices, either directly or indirectly including inputs in markets that are not considered to be active; and ● Level 3 – inputs to the valuation methodology are unobservable and significant to the fair value measurement. Categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Accounts Receivable, Net In the normal course of business, the Company extends credit to customers. Accounts receivable, allowance for credit losses, reflect the net realizable value of receivables and approximate fair value. An allowance for credit losses is maintained and reflects the best estimate of probable losses determined principally on the basis of historical experience and specific allowances for known troubled accounts. All accounts or portions thereof that are deemed to be uncollectible or that require an excessive collection cost are written off to the allowance for credit losses. As of December 31, 2023 and 2022, the Company had reserved an allowance for credit losses of $ 53,696 2,349 Accounts receivable, net consists of amounts due from invoiced customers and product deliveries and were as follows: SCHEDULE OF ACCOUNTS RECEIVABLE 2023 2022 As of December 31, 2023 2022 Trade receivables $ 272,696 $ 512,420 Less: Allowance for credit losses (53,696 ) (2,349 ) Accounts receivable, net $ 219,000 $ 510,071 The Company increased allowance for credit losses by $ 51,347 344,492 AYRO, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Inventory Inventory consists of purchased chassis, cabs, batteries, truck beds and component parts which includes cost of raw materials, freight, direct labor, and related production overhead and are stated at the lower of cost or net realizable value, as determined using a first-in, first-out method. Management compares the cost of inventory with the net realizable value and, if applicable, an allowance is made for writing down the inventory to its net realizable value, if lower than cost. On an ongoing basis, inventory is reviewed for potential write-down for estimated obsolescence or unmarketable inventory based upon forecasts for future demand and market conditions. Property and Equipment, Net Property and equipment, net, are stated at cost, less accumulated depreciation. Depreciation is recorded over the shorter of the estimated useful life, of one to ten years, or the lease term of the applicable assets using the straight-line method beginning on the date an asset is placed in service. The Company regularly evaluates the estimated remaining useful lives of the Company’s property and equipment, net, to determine whether events or changes in circumstances warrant a revision to the remaining period of depreciation. Maintenance and repairs are charged to expense when incurred. The estimated useful lives for significant property and equipment categories are as follows: SCHEDULE OF ESTIMATED USEFUL LIVES Computer Equipment and Software 1 3 Furniture and Fixtures 2 7 Machinery and Equipment 5 10 Leasehold Improvements Shorter of useful or lease life Warrants and Preferred Shares The accounting treatment of warrants and preferred share series issued is determined pursuant to the guidance provided by ASC 480, Distinguishing Liabilities from Equity Derivatives and Hedging Leases Operating lease assets are included within operating lease right-of-use assets, and the corresponding operating lease obligation on the consolidated balance sheet as of December 31, 2023 and 2022. The Company has elected not to present short-term leases as these leases have a lease term of 12 months or less at lease inception and do not contain purchase options or renewal terms that the Company is reasonably certain to exercise. All other lease assets and lease liabilities are recognized based on the present value of lease payments over the lease term at commencement date. Because most of the Company’s leases do not provide an implicit rate of return, the Company used an incremental borrowing rate based on the information available at adoption date in determining the present value of lease payments. Redeemable Preferred Stock Applicable accounting guidance requires an equity instrument that is redeemable for cash or other assets to be classified outside of permanent equity if it is redeemable (a) at a fixed or determinable price on a fixed or determinable date, (b) at the option of the holder, or (c) upon the occurrence of an event that is not solely within the control of the issuer. Segment Reporting The Company operates in one business segment which focuses on the manufacturing and sales of environmentally-conscious, minimal-footprint EVs. The Company’s business offerings have similar economic and other characteristics, including the nature of products, manufacturing, types of customers, and distribution methods. The chief operating decision maker (CODM) reviews profit and loss information on a consolidated basis to assess performance and make overall operating decisions. The consolidated financial statements reflect the financial results of the Company’s one reportable operating segment. The Company has no significant revenues or tangible assets outside of the United States. AYRO, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Revenue Recognition The Company recognizes revenue in accordance with ASC 606, Revenue from Contracts with Customers Nature of goods and services The following is a description of the Company’s products and services from which the Company generates revenue, as well as the nature, timing of satisfaction of performance obligations, and significant payment terms for each: Product revenue Product revenue from customer contracts is recognized on the sale of each Electric Vehicle (“EV”) as vehicles are shipped to customers. The majority of the Company’s vehicle sales orders generally have only one performance obligation: sale of complete vehicles. Ownership and risk of loss transfers to the customer based on free on board (“FOB”) shipping point and freight charges are the responsibility of the customer. Revenue is typically recognized at the point in which control transfers. The Company provides product warranties to assure that the product assembly complies with agreed upon specifications. The Company’s product warranty is identical to the product warranties provided by the Company’s suppliers, therefore minimizing the warranty liability to the standard labor rates associated with the defective part replacement. Customers do not have the option to purchase a warranty separately; as such, warranty is not accounted for as a separate performance obligation. The Company’s policy is to exclude taxes collected from a customer from the transaction price of automotive contracts. Shipping revenue Amounts billed to customers related to shipping and handling are classified as shipping revenue. The Company has elected to recognize the cost for freight and shipping when control over vehicles has transferred to the customer as an operating expense. The Company has reported shipping income of $ (6,034 442,932 Services and other revenue Services and other revenue consist of non-warranty after-sales vehicle services. Revenue is recognized at a point in time when services and replacement parts are provided. Miscellaneous income Miscellaneous income consists of late fees charged for receivables not paid within the terms of the customer agreement based upon the outstanding customer receivable balance. This revenue is earned when a customer’s receivable balance becomes delinquent and its collection is reasonably assured and is calculated using a stated late fee rate multiplied by the outstanding balance that is subject to a late fee charge. Research and development costs Costs are incurred in connection with research and development programs that are expected to contribute to future earnings. Such costs include labor, stock-based compensation, training, software subscriptions, and consulting. These amounts are charged to the consolidated statement of operations as incurred. Total research and development expenses included were $ 7,418,026 6,845,451 AYRO, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Income Taxes The Company accounts for income tax using an asset and liability approach, which allows for the recognition of deferred tax benefits in future years. Under the asset and liability approach, deferred taxes are provided for the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The accounting for deferred income taxes represents management’s best estimate on the most likely future tax consequences of events that have been recognized in the consolidated financial statements or tax returns. A valuation allowance is provided for deferred tax assets if it is more likely than not these items will either expire before the Company is able to realize their benefits, or that future realization is uncertain. As of December 31, 2023 and 2022, there were no accruals for uncertain tax positions. Stock-Based Compensation The Company accounts for stock-based compensation in accordance with ASC 718, Compensation-Stock Compensation (“ASC 718”). The Company recognizes all employee and non-employee share-based compensation as an expense in the financial statements on a straight-line basis over the requisite service period, based on the terms of the awards. Equity-classified awards principally related to stock options, restricted stock awards (“RSAs”) and equity-based compensation, are measured at the grant date fair value of the award. The Company determines grant date fair value of stock option awards using the Black-Scholes option-pricing model. The fair value of RSAs is determined using the closing price of the Company’s common stock on the grant date. For service based vesting grants, expense is recognized ratably over the requisite service period based on the number of options or shares. For value-based vesting grants, expense is recognized via straight line expense over the expected period per grant as determined by outside valuation experts. Stock-based compensation is reversed for forfeitures in the period of forfeiture. We estimate the fair value of stock-based and cash unit awards containing a market condition using a Monte Carlo simulation model. Key inputs and assumptions used in the Monte Carlo simulation model include the stock price of the award on the grant date, the expected term, the risk-free interest rate over the expected term, the expected annual dividend yield and the expected stock price volatility. The expected volatility is based on a combination of the historical and implied volatility of the Company’s publicly traded, near-the-money stock options, and the valuation period is based on the vesting period of the awards. The risk-free interest rate is derived from the U.S. Treasury yield curve in effect at the time of grant and, since the Company does not currently pay or plan to pay a dividend on its common stock, the expected dividend yield was zero. Stock options and warrants issued as compensation for services provided to the Company are accounted for based upon the fair value of the underlying equity instrument. The attribution of the fair value of the equity instrument is charged directly to compensation expense over the period during which services are rendered. Basic and Diluted Loss Per Share Basic and diluted net loss per share is determined by dividing net loss by the weighted average common stock outstanding during the period. For all periods presented with a net loss, the shares underlying the common stock options and warrants have been excluded from the calculation because their effect would be anti-dilutive. Therefore, the weighted-average shares outstanding used to calculate both basic and diluted loss per share are the same for periods with a net loss. In accordance with ASC 260, Earnings Per Share, AYRO, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS The following potentially dilutive securities have been excluded from the computation of diluted weighted average shares outstanding as they would be anti-dilutive: SCHEDULE OF ANTIDILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS PER SHARE 2023 2022 As of December 31, 2023 2022 Options to purchase Common Stock 38,696 97,240 Restricted stock unvested 36,235 82,570 Warrants outstanding 11,605,758 763,253 Preferred stock outstanding 12,379,067 309 Totals 24,059,756 943,372 Recent Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13 “Financial Instruments -Credit Losses” (ASC 326) “Measurement of Credit Losses on Financial Instruments: and subsequent amendment to the guidance, ASU 2018-19 in November 2018. The standard significantly changes how entities will measure credit losses for most financial assets, including trade receivables. The standard will replace historic incurred loss” approach with an “expected loss” model for instruments measured at amortized cost. The adoption of this standard did not have a material impact on the Company’s consolidated financial statements. In August 2020, the FASB issued ASU No. 2020-06, Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity (“ASU 2020-06”), which simplifies an issuer’s accounting for convertible instruments by reducing the number of accounting models that require separate accounting for embedded conversion features. ASU 2020-06 also simplifies the settlement assessment that entities are required to perform to determine whether a contract qualifies for equity classification and makes targeted improvements to the disclosures for convertible instruments and earnings-per-share (“EPS”) guidance. This update will be effective for the Company’s fiscal years beginning after December 15, 2023, and interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. Entities can elect to adopt the new guidance through either a modified retrospective method of transition or a fully retrospective method of transition. The Company adopted the new standard with no impact on its consolidated financial statements as of August 1, 2023. In June 2022, the FASB issued ASU 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions (“ASU 2022-03”), which clarifies the guidance in Accounting Standards Codification Topic 820, Fair Value Measurement (“Topic 820”), when measuring the fair value of an equity security subject to contractual restrictions that prohibit the sale of an equity security and introduces new disclosure requirements for equity securities subject to contractual sale restrictions that are measured at fair value in accordance with Topic 820. ASU 2022-03 is effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years, and early adoption is permitted. The Company is currently evaluating the impact that the adoption of this guidance will have on its consolidated financial statements. In November 2023, the FASB issued Update 2023-07-Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures which requires disclosure of the title and position of the Chief Operating Decision Maker (“CODM”), an explanation of how the CODM uses the reported measure of segment profit or loss in assessing segment performance and deciding how to allocate resources, and disclosure of significant expenses regularly provided to the CODM that are included within the reported measure of segment profit or loss. The amendments of ASU 2023-07 are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted, and should be applied retrospectively to all periods presented. The Company is currently evaluating the impact of this standard, including timing of adoption. In December 2023, the FASB issued Update 2023-09-Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which enhances the disclosure requirements for income tax rate reconciliation, domestic and foreign income taxes paid, and unrecognized tax benefits. The amendments of ASU 2023-09 are effective for annual periods beginning after December 15, 2024. Early adoption is permitted, and should be applied prospectively. The Company is currently evaluating the impact of this standard, including timing of adoption. AYRO, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

REVENUES

REVENUES	12 Months Ended
	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
REVENUES	NOTE 4. REVENUES Disaggregation of Revenue from Contracts with Customers Revenue disaggregated by type consists of the following: SCHEDULE OF DISAGGREGATION OF REVENUE 2023 2022 Years Ended December 31, 2023 2022 Revenue type Product revenue $ 469,812 $ 2,716,583 Miscellaneous Income 16,399 44,887 Shipping revenue 12,706 229,027 Total Revenue $ 498,917 $ 2,990,497 Warranty Reserve The Company records a reserve for warranty repairs upon the initial delivery of vehicles to its dealer network. The Company provides a product warranty on each vehicle including powertrain, battery pack and electronics package. Such warranty matches the product warranty provided by its supply chain for warranty parts for all unaltered vehicles and is not considered a separate performance obligation. The supply chain warranty does not cover warranty-based labor needed to replace a part under warranty. Warranty reserves include management’s best estimate of the projected cost of labor to repair/replace all items under warranty. The Company reserves a percentage of all dealer-based sales to cover an industry-standard warranty fund to support dealer labor warranty repairs. Such percentage is recorded as a component of cost of revenues in the statement of operations. As of December 31, 2023 and 2022, warranty reserves were recorded within accrued expenses of $ 401,440 410,017

INVENTORY

INVENTORY	12 Months Ended
	Dec. 31, 2023
Inventory Disclosure [Abstract]
INVENTORY	NOTE 5. INVENTORY Inventory consisted of the following: SCHEDULE OF INVENTORY 2023 2022 As of December 31, 2023 2022 Raw materials $ 3,252,280 $ 330,931 Work-in-progress 179,702 — Finished goods — 639,450 Total $ 3,431,982 $ 970,381 During the year ended December 31, 2023, we determined that the 411x vehicle and all spare parts that we had in inventory sourced from China that were specific to the 411x vehicle were obsolete as they are sold exclusively through Club Car. As a result, all inventory associated with the 411x vehicle was written off. During the year ended December 31, 2023, a $ 2,433,394 615,091 3,048,485 AYRO, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS On June 30, 2022, we determined that testing of obsolescence was required for inventory due to the quality of certain purchased components from Cenntro’s lithium-ion (“NCM”) line. 17 vehicles tested in the second quarter of 2022 were determined to have 49 unique failures. An inspection of the remaining NCM units revealed a 100% failure rate. As a result, all inventory associated with Cenntro’s NCM line was written off for $ 1,317,289 621,097 413,561 124,375 2,476,322

PREPAID EXPENSES AND OTHER CURR

PREPAID EXPENSES AND OTHER CURRENT ASSETS	12 Months Ended
	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
PREPAID EXPENSES AND OTHER CURRENT ASSETS	NOTE 6. PREPAID EXPENSES AND OTHER CURRENT ASSETS SCHEDULE OF PREPAID EXPENSES AND OTHER CURRENT ASSETS 2023 2022 As of December 31, 2023 2022 Prepayments for inventory $ 1,524,831 $ 1,174,466 Prepayment for insurance 227,945 118,434 Prepaid other 97,803 7,094 Prepayment on software 37,203 103,851 Prepayments on advances on design — 75,000 Total Prepaid Expenses and Other Current Assets $ 1,887,782 $ 1,478,845

PROPERTY AND EQUIPMENT, NET

PROPERTY AND EQUIPMENT, NET	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT, NET	NOTE 7. PROPERTY AND EQUIPMENT, NET Property and equipment, net consisted of the following: SCHEDULE OF PROPERTY AND EQUIPMENT, NET 2023 2022 As of December 31, 2023 2022 Computer and equipment $ 3,619,041 $ 1,970,001 Lease improvements 1,094,025 952,952 Computer software 495,295 455,875 Furniture and fixtures 395,703 323,789 Property and equipment, gross 5,604,064 3,702,617 Less: Accumulated depreciation (2,486,900 ) (1,510,280 ) Property and equipment, net $ 3,117,164 $ 2,192,337 Depreciation expense for the years ended December 31, 2023 and 2022 was $ 1,074,684 580,445 101,581 During the year ended December 31, 2023, the Company sold fixed assets and recognized a realized loss on disposal of $ 40,181

ACCRUED EXPENSES AND OTHER CURR

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	12 Months Ended
	Dec. 31, 2023
Payables and Accruals [Abstract]
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	NOTE 8. ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES SCHEDULE OF ACCRUED EXPENSES 2023 2022 As of December 31, 2023 2022 Accrued professional and consulting fees $ 497,719 $ 410,711 Accrued payroll and severance 575,111 6,000 Accrued warranty reserve 401,440 410,017 Accrued expenses other 77,802 138,209 Other current liabilities 104,469 — Total accrued expenses and other current liabilities $ 1,656,541 $ 964,937 AYRO, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

STOCKHOLDERS_ EQUITY

STOCKHOLDERS’ EQUITY	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
STOCKHOLDERS’ EQUITY	NOTE 9. STOCKHOLDERS’ EQUITY Common Stock On September 14, 2023, the Company amended its certificate of incorporation to increase the number of authorized shares of common stock from 100,000,000 200,000,000 On September 15, 2023 the Company issued 173,530 During the year ended December 31, 2023, and 2022 the Company issued 85,172 46,835 Series H Convertible Preferred Stock Under the terms of the Series H Certificate of Designation, each share of the Company’s Series H Convertible Preferred Stock (the “Series H Preferred Stock”) has a stated value of $ 154.00 1,478.40 9.99 As of December 31, 2023, SCHEDULE OF PAYMENT OF PREFERRED STOCK Number of Series H Preferred Stock outstanding as of December 31, 2023 8 Multiplied by the stated value $ 154 Equals the gross stated value $ 1,232 Divided by the conversion price $ 1,478.40 Equals the convertible shares of Company Common Stock 1 Multiplied by the fair market value of Company Common Stock as of December 31, 2023 $ 1.76 Liquidation value $ 2 Series H-3 Convertible Preferred Stock Pursuant to the Series H-3 Certificate of Designation (as defined below), the holders of the Company’s Series H-3 Convertible Preferred Stock (the “Series H-3 Preferred Stock”) are entitled to elect up to two members of a seven-member Board, subject to certain step downs; pursuant to the Series H-3 securities purchase agreement, the Company agreed to effectuate the appointment of the designees specified by the Series H-3 investors as directors of the Company. Under the terms of the Series H-3 Certificate of Designation, each share of the Series H-3 Preferred Stock has a stated value of $ 138.00 1,324.80 9.99 AYRO, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS In the event of liquidation, the holders of the Series H-3 Preferred Stock are entitled, pari passu with the holders of common stock, to receive a payment in the amount the holder would receive if such holder converted the Series H-3 Preferred Stock into common stock immediately prior to the date of such payment As of December 31, 2023, SCHEDULE OF PAYMENT OF PREFERRED STOCK Number of Series H-3 Preferred Stock outstanding as of December 31, 2023 1,234 Multiplied by the stated value $ 138.00 Equals the gross stated value $ 170,292 Divided by the conversion price $ 1,324.80 Equals the convertible shares of Company Common Stock 129 Multiplied by the fair market value of Company Common Stock as of December 31, 2023 $ 1.76 Liquidation value $ 227 Series H-6 Convertible Preferred Stock On February 5, 2020, the Company filed the Certificate of Designations, Preferences and Rights of the Series H-6 Preferred Stock (the “Series H-6 Certificate of Designation”) with the Secretary of State of the State of Delaware, establishing and designating the rights, powers and preferences of the Series H-6 Preferred Stock. The Company designated up to 50,000 72.00 Each share of Series H-6 Preferred Stock is convertible at any time at the option of the holder thereof, into a number of shares of common stock of the Company determined by dividing the H-6 Stated Value by the initial conversion price of $28.80 per share, which was then further reduced to $20.00 under the anti-dilution adjustment provision, subject to a 9.99% blocker provision and then decreased to $5.76 upon the reverse stock split. 5.76 9.99 The holders of Series H-6 Preferred Stock are entitled to certain anti-dilution adjustments if the Company issues shares of its common stock at a lower price per share than the applicable conversion price of the Series H-6 Preferred Stock. If any such dilutive issuance occurs prior to the conversion of the Series H-6 Preferred Stock, the conversion price will be adjusted downward to a price that cannot be less than $ 5.76 AYRO, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2023, SCHEDULE OF PAYMENT OF PREFERRED STOCK Number of Series H-6 Preferred Stock outstanding as of December 31, 2023 50 Multiplied by the stated value $ 72.00 Equals the gross stated value $ 3,600 Divided by the conversion price $ 5.76 Equals the convertible shares of Company Common Stock 625 Multiplied by the fair market value of Company Common Stock as of December 31, 2023 $ 1.76 Liquidation Value $ 1,100 Series H-7 Preferred Shares On August 7, 2023, the Company entered into the Purchase Agreement with the Investors, pursuant to which it agreed to sell to the Investors (i) an aggregate of 22,000 1,000 2,750,000 8.00 2,750,000 In connection with the Private Placement, pursuant to an Engagement Letter, dated August 7, 2023, between the Company and Palladium Capital Group, LLC (the “Placement Agent”), the Company agreed to pay the Placement Agent (i) a cash fee equal to 6 2 8.00 2.00 five The Series H-7 Preferred Shares are convertible into common stock (the “Conversion Shares”) at the election of the holder at any time at an initial conversion price of $ 8.00 The amortization payments due upon such redemption are payable, at the Company’s election, in cash at 105% of the Installment Redemption Amount (as defined in the Certificate of Designations), or subject to certain limitations, in shares of common stock valued at the lower of (i) the Conversion Price then in effect and (ii) the greater of (A) 80% of the average of the three lowest closing prices of the Company’s common stock during the thirty consecutive trading day period immediately prior to the date the amortization payment is due and (B) $0.0744 (subject to adjustment for stock splits, stock dividends, stock combinations, recapitalizations or other similar events) or, in any case, such lower amount as permitted, from time to time, by the Nasdaq Stock Market. The holders of the Series H-7 Preferred Shares have the option to defer amortization payments or, subject to certain limitations as specified in the Certificate of Designations, can elect to accelerate installment conversion amounts. The holders of the Series H-7 Preferred Shares are entitled to dividends of 8.0% per annum, compounded monthly, which are payable in cash or shares of common stock at the Company’s option, in accordance with the terms of the Certificate of Designations. Upon the occurrence and during the continuance of a Triggering Event (as defined in the Certificate of Designations), the Series H-7 Preferred Shares will accrue dividends at the rate of 15% per annum. Upon conversion or redemption, the holders of the Series H-7 Preferred Shares are also entitled to receive a dividend make-whole payment. The holders of Series H-7 Preferred Shares are entitled to vote with the holders of the common stock on all matters that such common stockholders are entitled to vote upon. Notwithstanding the foregoing, the Company’s ability to settle conversions and make amortization and dividend make-whole payments using shares of common stock is subject to certain limitations set forth in the Certificate of Designations. Further, the Certificate of Designations contains a certain beneficial ownership limitation after giving effect to the issuance of shares of common stock issuable upon conversion of, or as part of any amortization payment or dividend make-whole payment under, the Certificate of Designations or Warrants. AYRO, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS The Certificate of Designations includes certain Triggering Events including, among other things, the suspension from trading or the failure of the common stock to be trading or listed (as applicable) on an eligible market for a period of five (5) consecutive trading days, the Company’s failure to pay any amounts due to the holders of the Series H-7 Preferred Shares when due. In connection with a Triggering Event, each holder of Series H-7 Preferred Shares will be able to require the Company to redeem in cash any or all of the holder’s Series H-7 Preferred Shares at a premium set forth in the Certificate of Designations. The Series H-7 Preferred Shares were determined to be more akin to a debt-like host than an equity-like host. The Company identified the following embedded features that are not clearly and closely related to the debt host instrument: 1) make-whole interest upon a contingent redemption event, 2) make-whole interest upon a conversion event, 3) an installment redemption upon an Equity Conditions Failure (as defined in the Certificate of Designations), and 4) variable share-settled installment conversion. These features were bundled together, assigned probabilities of being effected and measured at fair value. Subsequent changes in fair value of these features are recognized in the Consolidated Statement of Operations. The Company estimated the $ 5,147,000 75.0 1.48 12.2 8.0 15.0 14.8 The discount to the fair value is included as a reduction to the carrying value of the Series H-7 Preferred Shares. During the year ended December 31, 2023, the Company recorded a total discount of $ 15,484,324 5,147,000 563,324 367,844 195,480 9,774,000 3,980,274 During the year ended December 31, 2023, the Company recorded a loss of approximately $ 4,253,000 9,400,000 85.0 1.1 5.9 8.0 15.0 5.2 12,378,321 Common Stock Warrants H-7 Warrants Pursuant to the Private Placement described above, the Company issued to Investors, H-7 Warrants initially exercisable for 2,750,000 55,000 The H-7 Warrants are entitled to certain anti-dilution adjustments if the Company issues shares of its common stock at a lower price per share than the applicable exercise price. The H-7 Warrants are also entitled to certain adjustments following any stock split, stock dividend, stock combination, reverse stock split, recapitalization or other similar transaction involving the outstanding Common Stock. Such adjustments were triggered as a result of the Reverse Stock Split, resulting in an adjusted exercise price per share from $ 8.00 2.00 8,415,000 2.00 AYRO, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS The H-7 Warrants were determined to be subject to liability classification as they are considered to be indexed to the Company’s own stock but fail to meet the requirements for equity classification in accordance with ASC 815. As such, the Company recorded the H-7 Warrants as a liability at fair value with subsequent changes in fair value recognized in earnings. The Company utilized the Black Scholes Model to calculate the value of these H-7 Warrants issued during the year ended December 31, 2023. The fair value of the H-7 Warrants of $ 9,969,480 5.20 8.00 0 5.0 96.0 4.21 Transaction costs incurred attributable to the issuance of the H-7 Warrants of $ 1,275,543 During the year ended December 31, 2023, the Company recorded a loss of $ 3,350,320 13,319,800 1.76 2.00 0 4.61 90.00 3.87 H-5 Warrants The H-5 Warrants are entitled to certain anti-dilution adjustments if the Company issues shares of its common stock at a lower price per share than the applicable exercise price (subject to a floor price of $ 6.336 20.00 8.00 8.00 6.336 93,940 6.336 The Company considers the change in exercise price due to the anti-dilution trigger related to the Series H-5 Warrants to be of an equity nature, as the issuance allowed the warrant holders to exercise warrants in exchange for common stock, which represents an equity for equity exchange. Therefore, the change in the fair value before and after the effect of the anti-dilution triggering event and the fair value of the Series H-5 warrants will be treated as a deemed dividend in the amount of $ 199,000 165,000 21,000 The Company valued the second deemed dividend as the difference between: (a) the modified fair value of the Series H-5 Warrants in the amount of $ 141,000 86,000 5.20 76.00 0 4.91 1.82 3.90 76.00 0 5.13 1.73 AYRO, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS A summary of the Company’s warrants to purchase common stock activity is as follows: SCHEDULE OF WARRANT ACTIVITY Shares Underlying Warrants Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Outstanding at December 31, 2021 763,603 $ 58.96 2.31 Expired (350 ) 1,324.80 — Outstanding at December 31, 2022 763,253 58.40 1.32 Granted 11,313,940 2.00 — Expired (471,435 ) 58.40 — Outstanding at December 31, 2023 11,605,758 $ 3.42 4.42

STOCK BASED COMPENSATION

STOCK BASED COMPENSATION	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
STOCK BASED COMPENSATION	NOTE 10 STOCK BASED COMPENSATION AYRO 2020 Long Term Incentive Plan On May 28, 2020, the Company’s shareholders approved the AYRO, Inc. 2020 Long Term Incentive Plan for future grants of incentive stock options, nonqualified stock, stock appreciation rights, restricted stock, restricted stock units, performance and other awards. The Company has reserved a total of 1,229,956 885,284 AYRO 2017 Long Term Incentive Plan The Company has reserved a total of 59,748 16,076 shares of common stock outstanding under the plan at December 31, 2022. At December 31, 2022, no shares remained available for grant under future awards under the 2017 Long-Term Incentive Plan. In conjunction with the 2020 incentive plan, the remaining unissued amounts were cancelled. DropCar Amended and Restated 2014 Equity Incentive Plan The Company’s equity incentive plan created in 2014 (the “2014 Plan”) was amended in 2018 to increase the number of shares of Company common stock available for issuance. Pursuant to the 2014 Plan, 17,666 no Stock-based compensation, including stock options, warrants and restricted stock, expense is included in the consolidated statement of operations as follows: SCHEDULE OF STOCK BASED COMPENSATION 2023 2022 Years Ended December 31, 2023 2022 General and administrative $ 887,765 $ 1,192,396 Research and development 24,240 21,922 Sales and marketing 6,053 25,811 Total $ 918,058 $ 1,240,129 AYRO, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Options The following table reflects the stock option activity: SCHEDULE OF STOCK BASED COMPENSATION, STOCK OPTIONS, ACTIVITY Number of Shares Weighted Average Exercise Price Contractual Life (Years) Outstanding at December 31, 2022 97,240 $ 49.20 7.56 Forfeitures (58,544 ) 23.57 Outstanding at December 31, 2023 38,696 $ 90.99 6.53 Of the outstanding options, 35,938 0 The Company recognized $ 59,624 65,291 41,199 1.35 Determining the appropriate fair value of the stock-based awards requires the input of subjective assumptions, including the fair value of the Company’s common stock, and for stock options, the expected life of the option, and the expected stock price volatility. The Company uses the Black-Scholes option pricing model to value its stock option awards. The assumptions used in calculating the fair value of stock-based awards represent management’s best estimates and involve inherent uncertainties and the application of management’s judgment. As a result, if factors change and management uses different assumptions, stock-based compensation expense could be materially different for future awards. The Company uses the following inputs when valuing stock-based awards during the year ended December 31, 2022. The Company did not issue any new awards during the year ended December 31, 2023. SCHEDULE OF STOCK BASED PAYMENT AWARD, STOCK OPTIONS, VALUATION ASSUMPTIONS As of December 31, 2022 Expected life (years) 6.0 Risk-free interest rate 3.04 % Expected volatility 128.67 % Stock Price $ 6.72 Exercise Price $ 7.76 The expected life of the employee stock options was estimated using the “simplified method,” as the Company has no historical information to develop reasonable expectations about future exercise patterns and employment duration for its stock option grants. The simplified method is based on the average of the vesting tranches and the contractual life of each grant. The expected life of awards that vest immediately use the contractual maturity since they are vested when issued. For volatility, the Company uses public company comparable data and in periods prior to the Merger historical private placement data as a basis for its expected volatility to calculate the fair value of option grants. The risk-free interest rate is based on U.S. Treasury notes with a term approximating the expected life of the option at the grant-date. AYRO, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Restricted Stock The following table reflects the restricted stock activity: SCHEDULE OF RESTRICTED STOCK ACTIVITY Number of Shares Weighted Average Grant Price Outstanding at December 31, 2022 82,570 $ 15.28 Granted 95,087 6.00 Vested (85,172 ) (6.70 ) Forfeited (56,250 ) (19.86 ) Outstanding at December 31, 2023 36,235 $ 4.01 On February 1, 2023, pursuant to the AYRO, Inc. 2020 Long-Term Incentive Plan, the Company granted 95,087 shares of restricted stock to non-executive directors at a value of $ 6.00 per share. As of December 31, 2023, 23,771 The Company recognized compensation expense related to all restricted stock during the years ended December 31, 2023 of $ 858,434 48,064 a

CONCENTRATIONS AND CREDIT RISK

CONCENTRATIONS AND CREDIT RISK	12 Months Ended
	Dec. 31, 2023
Risks and Uncertainties [Abstract]
CONCENTRATIONS AND CREDIT RISK	NOTE 11. CONCENTRATIONS AND CREDIT RISK Revenues Four customers accounted for approximately 68 23 18 16 11 Accounts Receivable Four customers accounted for approximately 82 32 27 12 11 Purchasing The Company places orders with various suppliers. One supplier accounted for approximately 36 50 19 10 Manufacturing On May 31, 2022, the Company received a letter from Cenntro purporting to terminate all agreements and contracts between the Company and Cenntro. Although the Company does not believe Cenntro’s termination of the Cenntro MLA is valid, the Company has determined to cease production of the AYRO 411x and focus its resources on the development and launch of the Vanish. The Company has canceled all purchase orders and future builds with Cenntro and currently intends to only order replacement parts for vehicles from Cenntro in the future. The Company is in discussions with Cenntro concerning the potential repurchase by Cenntro of unsaleable inventory due to quality concerns. AYRO expects to lose its exclusive license under the Cenntro MLA, in which case Cenntro could sell similar products through other companies or directly to the Company’s customers, which could have a material adverse effect on its results of operations and financial condition. AYRO, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2023
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 12. RELATED PARTY TRANSACTIONS The Company had received expense advances from its founders in 2019. For the years ended December 31, 2023 and 2022, the amount outstanding was $ 15,000 During the year ended December 31, 2022, the Company paid $ 60,000

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 13. COMMITMENTS AND CONTINGENCIES Manufacturing Agreements On July 28, 2022, the Company partnered with Linamar Corporation (“Linamar”) a Canadian manufacturer, in a manufacturing agreement (the “Linamar MLA”) to provide certain sub assembly and assembly parts, including the cabin frame and skate for the Vanish (collectively, the “Products”). During the term of the Linamar MLA, Linamar has the exclusive right to supply the Products to the Company, subject to certain exceptions. The Linamar MLA has an initial term of three years and will automatically renew for successive two-year terms unless either party has given at least 12 months’ written notice of nonrenewal. Either party may terminate the Linamar MLA at any time upon 12 months’ written notice, and in the event of a change in control of the Company prior to the end of the initial term, the Company may terminate upon written notice within three days of completion of such change in control. In the event the Company terminates the Linamar MLA prior to its expiration, whether following a change in control or otherwise, the Company must purchase any remaining raw material inventory, finished goods inventory and work in progress and any unamortized capital equipment used in production and testing of the Products and pay a termination fee of $ 750,000 Under the Linamar MLA, the Company must commit to certain minimum purchase requirements, to be determined by AYRO on a quarterly basis. Supply Chain Agreements In 2017, the Company executed a supply chain contract with Cenntro, which has historically been the Company’s primary supplier. Prior to the Merger, Cenntro was a significant shareholder in AYRO Operating. Cenntro owns the design of the AYRO 411 Fleet vehicles and has granted the Company an exclusive license to purchase the AYRO 411 Fleet vehicles for sale in North America. The Company purchased 100% of its vehicle chassis, cabs and wheels for AYRO 411 Fleet Vehicles through this supply chain relationship with Cenntro. The Company must sell a minimum number of units in order to maintain its exclusive supply chain contract. See Note 11 for concentration amounts. As of December 31, 2021 the net balance between prepaid expenses and accrued expenses with Cenntro was a prepaid balance of $ 602,016 zero 621,097 line was written off to cost of goods sold for $ 1,317,289 The Company has canceled all purchase orders and future builds with Cenntro and currently intends to only order replacement parts from Cenntro in the future. On November 2, 2023, we entered into a supply agreement with Sirris Inc., a provider in motor vehicle parts for innovative vehicle types. Sirris has agreed to supply rear and front shocks to support the manufacturing of our electric vehicle fleet. Sirris is committed to meeting our upside demand for these products in the event production increases. As of December 31, 2023, the Company has not committed to any purchase orders under this agreement. AYRO, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS On December 21, 2023, we entered into a supply agreement with Athena Manufacturing, LP, a provider of customizable sophisticated metal products. As part of the agreement, we are able to submit devices, component, component assembly, material part, or piece that is custom to AYRO. This is a non-exclusive agreement in which we are able to engage other suppliers for these products. As of December 31, 2023, the Company has not committed to any purchase orders under this agreement. Lease Agreements In 2019 the Company entered into a new lease agreement for office and manufacturing space. The lease commencement date was January 16, 2020. Prior to the commence ment date of the new lease agreement, the Company leased other office and manufacturing space on a short-term basis. The Company determined if an arrangement is a lease at inception of the contract and whether a contract is or contains a lease by determining whether it conveys the right to control the use of identified asset for a period of time. These leases provide the right to substantially all the economic benefits from the use of the identified asset and the right to direct use of the identified asset, as such, the contract is, or contains, a lease. In connection with the adoption of ASC 842, Leases During March 2021, the Company subleased additional office space to support the Company’s expansion plan. The term is for 16 months with no lease obligation remaining as of December 31, 2022. Leases were classified as an operating lease at inception. An operating lease results in the recognition of a Right-of-Use (“ROU”) assets and lease liability on the balance sheet. ROU assets and operating lease liabilities are recognized based on the present value of lease payments over the lease term as of the commencement date. Because the lease does not provide an explicit or implicit rate of return, the Company determines an incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments on an individual lease basis. The incremental borrowing rate for a lease is the rate of interest the Company would have to pay on a collateralized basis to borrow an amount equal to the lease payments for the asset under similar term, which is 10.41 %. Lease expense for the lease is recognized on a straight-line basis over the lease term. The Company’s leases do not contain any residual value guarantees or material restrictive covenants. Leases with a lease term of 12 months or less are not recorded on the balance sheet and lease expense is recognized on a straight-line basis over the lease term. The remaining term as of December 31, 2023 is 3.25 During the years ended December 31, 2023 and 2022, cash paid for amounts included in the measurement of lease liabilities - operating cash flows from operating lease were $ 247,533 306,689 SCHEDULE OF COMPONENTS OF LEASE EXPENSES 2023 2022 Years Ended December 31, 2023 2022 Operating lease expense $ 244,785 $ 409,543 Short-term lease expense 479,695 153,572 Total lease cost $ 724,480 $ 563,115 AYRO, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Balance sheet information related to leases consists of the following: SCHEDULE OF OPERATING LEASES RIGHT OF USE ASSETS AND LIABILITIES 2023 2022 December 31, 2023 2022 Assets Operating lease – right-of-use asset $ 671,451 $ 819,401 Total lease assets $ 671,451 $ 819,401 Liabilities Current liabilities: Lease obligation – operating lease $ 196,682 $ 165,767 Noncurrent liabilities: Lease obligation - operating lease, net of current portion 502,831 693,776 Total lease liability $ 699,513 $ 859,543 The weighted-average remaining lease term and discount rate is as follows: SCHEDULE OF WEIGHTED AVERAGE REMAINING LEASE TERM AND DISCOUNT RATE Weighted average remaining lease term (in years) – operating lease 3.30 Weighted average discount rate – operating lease 10.41 % Cash flow information related to leases consists of the following: SCHEDULE OF CASH FLOW INFORMATION December 31, 2023 December 31, 2022 Operating cash flows for operating leases $ 247,533 $ 306,689 Supplemental non-cash amounts of lease liabilities arising from obtaining right of use assets $ — $ — Future minimum lease payment under non-cancellable lease as of December 31, 2023 are as follows: SCHEDULE OF FUTURE MINIMUM RENTAL PAYMENTS FOR OPERATING LEASES Operating Leases 2024 $ 254,277 2025 261,223 2026 268,378 2027 44,929 Total minimum lease payments 828,807 Less effects of discounting (129,294 ) Present value of future minimum lease payments $ 699,513 Litigation The Company is subject to various legal proceedings and claims, either asserted or unasserted, which arise in the ordinary course of business, that it believes are incidental to the operation of its business. While the outcome of these claims cannot be predicted with certainty, management does not believe that the outcome of any of these legal matters will have a material adverse effect on its results of operations, financial position or cash flows. On March 23, 2018, DropCar was made aware of an audit being conducted by the New York State Department of Labor (“DOL”) regarding a claim filed by an employee. The DOL is investigating whether DropCar properly paid overtime for which DropCar has raised several defenses. In addition, the DOL is conducting its audit to determine whether the Company owes spread of hours pay (non-exempt worker whose workday is longer than ten hours must receive an extra hour of pay at the basic minimum hourly rate). Management believes the case has no merit. AYRO, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Club Car On October 20, 2023, Club Car filed a complaint against the Company in the Superior Court of Columbia County, Georgia (Civil Action File No. 2023ECV0838) (the “Club Car Complaint”), alleging that the Company had breached its contractual obligations to Club Car under the MPA due to alleged defects in the vehicles sold to Club Car and the Company’s termination of warranty support following termination of the MPA. Club Car seeks unspecified damages and indemnification for past and future customer claims with respect to the vehicles sold to Club Car under the MPA. The Company intends to vigorously contest these allegations.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	NOTE 1 4 FAIR VALUE MEASUREMENTS Fair value measurements discussed herein are based upon certain market assumptions and pertinent information available to management as of and during the year ended December 31, 2023 and 2022 . The carrying amounts of cash equivalents, accounts receivable, other current assets, other assets, accounts payable, and accrued expenses approximated their fair values as of December 31, 2023 and 2022, due to their short-term nature. The fair value of the bifurcated embedded derivative related to the convertible preferred stock was estimated using a Monte Carlo simulation model, which uses as inputs the fair value of our common stock and estimates for the equity volatility and traded volume volatility of our common stock, the time to maturity of the convertible preferred stock, the risk-free interest rate for a period that approximates the time to maturity, dividend rate, a penalty dividend rate, and our probability of default. The fair value of the warrant liability was estimated using the Black Scholes Model which uses as inputs the following weighted average assumptions, as noted above: dividend yield, expected term in years, equity volatility, and risk-free interest rate. Fair Value on a Recurring Basis The Company follows the guidance in ASC 820 for its financial assets and liabilities that are re-measured and reported at fair value at each reporting period, and non-financial assets and liabilities that are re-measured and reported at fair value at least annually. The estimated fair value of marketable securities and money market accounts represents a Level 1 measurement. The estimated fair value of the warrant liability and bifurcated embedded derivatives represent Level 3 measurements. The following table presents information about the Company’s liabilities that are measured at fair value on a recurring basis at December 31, 2023 and 2022, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value: The following table sets forth a summary of the Company’s assets and liabilities that are measured at fair value on a recurring basis: SCHEDULE OF FAIR VALUE, ASSETS AND LIABILITIES MEASURED ON RECURRING BASIS Description Level 2023 2022 December 31, Description Level 2023 2022 Assets: 1 Marketable securities 1 $ — $ 9,848,804 Money market accounts 1 $ 1,805,597 $ 20,312,844 Liabilities: Warrant liability (see Note 3) 3 $ 13,319,800 $ — Derivative liability (see Note 3) 3 $ 9,400,000 $ — AYRO, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS The following table sets forth a summary of the change in the fair value of the warrant liability that is measured at fair value on a recurring basis: SCHEDULE OF CHANGE IN FAIR VALUE WARRANT LIABILITY December 31, 2023 Balance on December 31, 2022 $ — Issuance of warrants 9,969,480 Change in fair value of warrant liability 3,350,320 Balance on December 31, 2023 $ 13,319,800 The following table sets forth a summary of the change in the fair value of the derivative liability that is measured at fair value on a recurring basis: SCHEDULE OF CHANGE IN FAIR VALUE OF DERIVATIVE LIABILITY December 31, 2023 Balance on December 31, 2022 $ — Issuance of convertible preferred stock with bifurcated embedded derivative 5,147,000 Change in fair value of bifurcated embedded derivative 4,253,000 Balance on December 31, 2023 $ 9,400,000

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 15. INCOME TAXES The following is a reconciliation of the statutory federal income tax rate applied to pre-tax net loss compared to the income taxes in the statement of operations as of December 31, 2023 and 2022. SCHEDULE OF RECONCILIATION STATUTORY FEDERAL INCOME TAX RATE December 31, 2023 December 31, 2022 Income tax benefit at statutory U.S. federal rate $ (7,165,506 ) $ (4,816,424 ) Equity issuance costs 267,864 — Warrant liability 703,567 — Derivative liability 884,940 — Equity based compensation 874,366 — Income tax benefit attributable to U.S. states (28,316 ) (936,810 ) Change in valuation allowance 4,348,711 5,701,853 Change in state tax rate 114,374 — Stock-based compensation — 51,381 Total income tax expense $ — $ — AYRO, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Deferred income taxes reflect the net effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The following table sets forth deferred income tax assets and liabilities as of the date shown: SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES December 31, 2023 December 31, 2022 Deferred tax assets: Net operating losses $ 19,958,440 $ 15,843,010 Intangible assets 80,797 99,566 Capitalized research and development expense 2,437,176 1,490,870 Equity based compensation 74,109 743,567 Lease liability 147,709 210,195 Warrants 116,639 156,851 Accrued compensation — 1,467 Property and equipment — 1,492 Other 180,979 113,487 Deferred tax assets 22,995,849 18,660,505 Deferred tax liabilities ROU asset (141,783 ) (200,379 ) Other (45,228 ) — Deferred tax liabilities (187,011 ) (200,379 ) Valuation allowance (22,808,838 ) (18,460,126 ) Net deferred tax asset/(liability) $ — $ — In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and projections for future taxable income over periods in which the deferred tax assets are deductible. Management believes it is more likely than not that the Company will not realize the benefits of these deductible differences. A valuation allowance has been applied to the amount of deferred tax assets management expects will be unrealized. Management does not believe that there are significant uncertain tax positions in 2023 and 2022. There are no interest and penalties related to uncertain tax positions in 2023 and 2022. The Company has federal net operating loss carryforwards of $ 83,120,531 and $ 64,332,435 as of December 31, 2023 and 2022, respectively. $ 995,801 of the federal net operating loss is subject to a 20 year carry forward, with a portion beginning to expire in 2036. $ 82,124,730 of the federal net operating loss has an indefinite carry forward period. 66,877,457 48,091,426 The following table sets for the tax years subject to examination for the major jurisdictions where the Company conducts business as of December 31, 2023. SCHEDULE OF INCOME TAX EXAMINATION Federal 2020 to 2023 Texas and Georgia 2019 to 2023 AYRO, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Federal and state laws impose substantial restrictions on the utilization of NOL carryforwards in the event of an ownership change for income tax purposes, as defined in Section 382 of the Internal Revenue Code (“IRC”). Pursuant to IRC Section 382, annual use of the Company’s NOL carryforwards may be limited in the event a cumulative change in ownership of more than 50% occurs within a three-year period. However, it is possible that past ownership changes will result in the inability to utilize a significant portion of the Company’s NOL carryforward that was generated prior to any change of control. The Company’s ability to use its remaining NOL carryforwards may be further limited if the Company experiences an IRC Section 382 ownership change in connection with future changes in the Company’s stock ownership. The Tax Cuts and Jobs Act (“TCJA”) requires taxpayers to capitalize and amortize research and experimental expenditures under IRC Section 174 for tax years beginning after December 31, 2021. This rule became effective for the Company during the year ended December 31, 2022 and resulted in the capitalization of research and development costs of $ 7,418,028 6,729,353 On August 16, 2022, the Inflation Reduction Act was enacted into law. This Act includes a 15.0 1.0

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 16. SUBSEQUENT EVENTS Restructuring On January 31, 2024, the Company implemented an internal restructuring in order to achieve greater efficiency in pursuit of the Company’s strategic goals. As part of the restructuring, the Company, amongst other things, eliminated a substantial number of positions as it re-evaluates sales, marketing and manufacturing. Furthermore, the Company’s current management team remains committed to pursuing its plans, including the development and commercialization of the AYRO Vanish, its lead low speed electric vehicle. The Company believes that the restructuring plan will create greater efficiencies and significantly reduce its burn rate as the Company continues to explore more cost effective ways to achieve growth. Amendment to Series H-7 Convertible Preferred Stock On February 9, 2024, the Company filed with the Secretary of State of the State of Delaware (the “Secretary of State”) a Certificate of Amendment of Certificate of Designations of Series H-7 Convertible Preferred Stock (the “Certificate of Amendment”), which became effective upon filing. The Certificate of Amendment amends the Certificate of Designations of Series H-7 Convertible Preferred Stock, previously filed with the Secretary of State on August 9, 2023, to permit certain additional dates which a holder of Series H-7 Convertible Preferred Stock may elect to designate as the initial Installment Date with respect to shares of Series H-7 Convertible Preferred Stock held by such holder. Specifically, the definition of “Installment Date” means (i) with respect to the first Installment Date, February 7, 2024, which can be changed to one of the following dates if the Buyer provides at least 20 Trading Days prior notice to the Company and returns to the Company all Pre-Installment Conversion Shares previously received from the Company, or the Company and the Buyer mutually agree, that the first Installment Date shall not be February 7, 2024 and shall be one of the following dates instead: (a) May 7, 2024, (b) August 7, 2024, (c) November 7, 2024, (d) February 7, 2025 or (e) August 7, 2025, as elected by a Buyer upon written notice delivered to the Company on or prior to the 30th Trading Day preceding such date or such other date as mutually agreed upon by the Company and the Buyer, (ii) thereafter, the first Trading Day of each calendar month immediately following the previous Installment Date for eleven (11) calendar months, which shall not be later than the Maturity Date, unless extended by mutual agreement of a Holder and the Company.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The Company’s financial statements have been prepared in conformity with GAAP as determined by Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”). The consolidated financial statements represent the consolidation of the accounts of the Company and its subsidiary in conformity with GAAP. All intercompany accounts and transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of the consolidated financial statements, in conformity with GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. The Company’s most significant estimates include revenue recognition, the measurement of stock-based compensation expenses, warranty reserve, and the inputs used in the fair value measurements of warrant and derivative liabilities. Actual results could differ from these estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly-liquid investments purchased with a maturity of three months or less at the time of purchase to be cash equivalents, including balances held in the Company’s money market accounts. The Company maintains total cash balances in one account which may exceed the federally insured limits. Management does not believe this results in any significant credit risk.
Restricted Cash	Restricted Cash As of December 31, 2023, cash of $ 10,000,000
Marketable Securities	Marketable Securities Marketable securities include investment in fixed income bonds and U.S. Treasury securities that are considered to be highly liquid and easily tradable. The Company applies Accounting Standards Codification (“ASC”) 320, Investments—Debt and Equity Securities, 0 9,848,804
Derivative Financial Instruments	Derivative Financial Instruments The Company evaluates all its financial instruments to determine if such instruments contain features that qualify as embedded derivatives. Embedded derivatives must be separately measured from the host contract if all the requirements for bifurcation are met. The assessment of the conditions surrounding the bifurcation of embedded derivatives depends on the nature of the host contract. Bifurcated embedded derivatives are recognized at fair value, with changes in fair value recognized in the statement of operations each period. Bifurcated embedded derivatives are classified with the related host contract in the Company’s balance sheet. These particular derivatives are assessed under ASC 480 and ASC 815. AYRO, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Fair Value Measurements	Fair Value Measurements In accordance with ASC 820 (Topic 820, Fair Value Measurements and Disclosures), the company uses a three-level hierarchy for fair value measurements of certain assets and liabilities for financial reporting purposes that distinguishes between market participant assumptions developed from market data obtained from outside sources (observable inputs) and our own assumptions about market participant assumptions developed from the best information available to us in the circumstances (unobservable inputs). The fair value hierarchy is divided into three levels based on the source of inputs as follows: ● Level 1 – inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets; ● Level 2 – inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability other than quoted prices, either directly or indirectly including inputs in markets that are not considered to be active; and ● Level 3 – inputs to the valuation methodology are unobservable and significant to the fair value measurement. Categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement.
Accounts Receivable, Net	Accounts Receivable, Net In the normal course of business, the Company extends credit to customers. Accounts receivable, allowance for credit losses, reflect the net realizable value of receivables and approximate fair value. An allowance for credit losses is maintained and reflects the best estimate of probable losses determined principally on the basis of historical experience and specific allowances for known troubled accounts. All accounts or portions thereof that are deemed to be uncollectible or that require an excessive collection cost are written off to the allowance for credit losses. As of December 31, 2023 and 2022, the Company had reserved an allowance for credit losses of $ 53,696 2,349 Accounts receivable, net consists of amounts due from invoiced customers and product deliveries and were as follows: SCHEDULE OF ACCOUNTS RECEIVABLE 2023 2022 As of December 31, 2023 2022 Trade receivables $ 272,696 $ 512,420 Less: Allowance for credit losses (53,696 ) (2,349 ) Accounts receivable, net $ 219,000 $ 510,071 The Company increased allowance for credit losses by $ 51,347 344,492 AYRO, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Inventory	Inventory Inventory consists of purchased chassis, cabs, batteries, truck beds and component parts which includes cost of raw materials, freight, direct labor, and related production overhead and are stated at the lower of cost or net realizable value, as determined using a first-in, first-out method. Management compares the cost of inventory with the net realizable value and, if applicable, an allowance is made for writing down the inventory to its net realizable value, if lower than cost. On an ongoing basis, inventory is reviewed for potential write-down for estimated obsolescence or unmarketable inventory based upon forecasts for future demand and market conditions.
Property and Equipment, Net	Property and Equipment, Net Property and equipment, net, are stated at cost, less accumulated depreciation. Depreciation is recorded over the shorter of the estimated useful life, of one to ten years, or the lease term of the applicable assets using the straight-line method beginning on the date an asset is placed in service. The Company regularly evaluates the estimated remaining useful lives of the Company’s property and equipment, net, to determine whether events or changes in circumstances warrant a revision to the remaining period of depreciation. Maintenance and repairs are charged to expense when incurred. The estimated useful lives for significant property and equipment categories are as follows: SCHEDULE OF ESTIMATED USEFUL LIVES Computer Equipment and Software 1 3 Furniture and Fixtures 2 7 Machinery and Equipment 5 10 Leasehold Improvements Shorter of useful or lease life
Warrants and Preferred Shares	Warrants and Preferred Shares The accounting treatment of warrants and preferred share series issued is determined pursuant to the guidance provided by ASC 480, Distinguishing Liabilities from Equity Derivatives and Hedging
Leases	Leases Operating lease assets are included within operating lease right-of-use assets, and the corresponding operating lease obligation on the consolidated balance sheet as of December 31, 2023 and 2022. The Company has elected not to present short-term leases as these leases have a lease term of 12 months or less at lease inception and do not contain purchase options or renewal terms that the Company is reasonably certain to exercise. All other lease assets and lease liabilities are recognized based on the present value of lease payments over the lease term at commencement date. Because most of the Company’s leases do not provide an implicit rate of return, the Company used an incremental borrowing rate based on the information available at adoption date in determining the present value of lease payments.
Redeemable Preferred Stock	Redeemable Preferred Stock Applicable accounting guidance requires an equity instrument that is redeemable for cash or other assets to be classified outside of permanent equity if it is redeemable (a) at a fixed or determinable price on a fixed or determinable date, (b) at the option of the holder, or (c) upon the occurrence of an event that is not solely within the control of the issuer.
Segment Reporting	Segment Reporting The Company operates in one business segment which focuses on the manufacturing and sales of environmentally-conscious, minimal-footprint EVs. The Company’s business offerings have similar economic and other characteristics, including the nature of products, manufacturing, types of customers, and distribution methods. The chief operating decision maker (CODM) reviews profit and loss information on a consolidated basis to assess performance and make overall operating decisions. The consolidated financial statements reflect the financial results of the Company’s one reportable operating segment. The Company has no significant revenues or tangible assets outside of the United States. AYRO, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Revenue Recognition	Revenue Recognition The Company recognizes revenue in accordance with ASC 606, Revenue from Contracts with Customers Nature of goods and services The following is a description of the Company’s products and services from which the Company generates revenue, as well as the nature, timing of satisfaction of performance obligations, and significant payment terms for each: Product revenue Product revenue from customer contracts is recognized on the sale of each Electric Vehicle (“EV”) as vehicles are shipped to customers. The majority of the Company’s vehicle sales orders generally have only one performance obligation: sale of complete vehicles. Ownership and risk of loss transfers to the customer based on free on board (“FOB”) shipping point and freight charges are the responsibility of the customer. Revenue is typically recognized at the point in which control transfers. The Company provides product warranties to assure that the product assembly complies with agreed upon specifications. The Company’s product warranty is identical to the product warranties provided by the Company’s suppliers, therefore minimizing the warranty liability to the standard labor rates associated with the defective part replacement. Customers do not have the option to purchase a warranty separately; as such, warranty is not accounted for as a separate performance obligation. The Company’s policy is to exclude taxes collected from a customer from the transaction price of automotive contracts. Shipping revenue Amounts billed to customers related to shipping and handling are classified as shipping revenue. The Company has elected to recognize the cost for freight and shipping when control over vehicles has transferred to the customer as an operating expense. The Company has reported shipping income of $ (6,034 442,932 Services and other revenue Services and other revenue consist of non-warranty after-sales vehicle services. Revenue is recognized at a point in time when services and replacement parts are provided. Miscellaneous income Miscellaneous income consists of late fees charged for receivables not paid within the terms of the customer agreement based upon the outstanding customer receivable balance. This revenue is earned when a customer’s receivable balance becomes delinquent and its collection is reasonably assured and is calculated using a stated late fee rate multiplied by the outstanding balance that is subject to a late fee charge.
Research and development costs	Research and development costs Costs are incurred in connection with research and development programs that are expected to contribute to future earnings. Such costs include labor, stock-based compensation, training, software subscriptions, and consulting. These amounts are charged to the consolidated statement of operations as incurred. Total research and development expenses included were $ 7,418,026 6,845,451 AYRO, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Income Taxes	Income Taxes The Company accounts for income tax using an asset and liability approach, which allows for the recognition of deferred tax benefits in future years. Under the asset and liability approach, deferred taxes are provided for the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The accounting for deferred income taxes represents management’s best estimate on the most likely future tax consequences of events that have been recognized in the consolidated financial statements or tax returns. A valuation allowance is provided for deferred tax assets if it is more likely than not these items will either expire before the Company is able to realize their benefits, or that future realization is uncertain. As of December 31, 2023 and 2022, there were no accruals for uncertain tax positions.
Stock-Based Compensation	Stock-Based Compensation The Company accounts for stock-based compensation in accordance with ASC 718, Compensation-Stock Compensation (“ASC 718”). The Company recognizes all employee and non-employee share-based compensation as an expense in the financial statements on a straight-line basis over the requisite service period, based on the terms of the awards. Equity-classified awards principally related to stock options, restricted stock awards (“RSAs”) and equity-based compensation, are measured at the grant date fair value of the award. The Company determines grant date fair value of stock option awards using the Black-Scholes option-pricing model. The fair value of RSAs is determined using the closing price of the Company’s common stock on the grant date. For service based vesting grants, expense is recognized ratably over the requisite service period based on the number of options or shares. For value-based vesting grants, expense is recognized via straight line expense over the expected period per grant as determined by outside valuation experts. Stock-based compensation is reversed for forfeitures in the period of forfeiture. We estimate the fair value of stock-based and cash unit awards containing a market condition using a Monte Carlo simulation model. Key inputs and assumptions used in the Monte Carlo simulation model include the stock price of the award on the grant date, the expected term, the risk-free interest rate over the expected term, the expected annual dividend yield and the expected stock price volatility. The expected volatility is based on a combination of the historical and implied volatility of the Company’s publicly traded, near-the-money stock options, and the valuation period is based on the vesting period of the awards. The risk-free interest rate is derived from the U.S. Treasury yield curve in effect at the time of grant and, since the Company does not currently pay or plan to pay a dividend on its common stock, the expected dividend yield was zero. Stock options and warrants issued as compensation for services provided to the Company are accounted for based upon the fair value of the underlying equity instrument. The attribution of the fair value of the equity instrument is charged directly to compensation expense over the period during which services are rendered.
Basic and Diluted Loss Per Share	Basic and Diluted Loss Per Share Basic and diluted net loss per share is determined by dividing net loss by the weighted average common stock outstanding during the period. For all periods presented with a net loss, the shares underlying the common stock options and warrants have been excluded from the calculation because their effect would be anti-dilutive. Therefore, the weighted-average shares outstanding used to calculate both basic and diluted loss per share are the same for periods with a net loss. In accordance with ASC 260, Earnings Per Share, AYRO, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS The following potentially dilutive securities have been excluded from the computation of diluted weighted average shares outstanding as they would be anti-dilutive: SCHEDULE OF ANTIDILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS PER SHARE 2023 2022 As of December 31, 2023 2022 Options to purchase Common Stock 38,696 97,240 Restricted stock unvested 36,235 82,570 Warrants outstanding 11,605,758 763,253 Preferred stock outstanding 12,379,067 309 Totals 24,059,756 943,372
Recent Accounting Pronouncements	Recent Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13 “Financial Instruments -Credit Losses” (ASC 326) “Measurement of Credit Losses on Financial Instruments: and subsequent amendment to the guidance, ASU 2018-19 in November 2018. The standard significantly changes how entities will measure credit losses for most financial assets, including trade receivables. The standard will replace historic incurred loss” approach with an “expected loss” model for instruments measured at amortized cost. The adoption of this standard did not have a material impact on the Company’s consolidated financial statements. In August 2020, the FASB issued ASU No. 2020-06, Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity (“ASU 2020-06”), which simplifies an issuer’s accounting for convertible instruments by reducing the number of accounting models that require separate accounting for embedded conversion features. ASU 2020-06 also simplifies the settlement assessment that entities are required to perform to determine whether a contract qualifies for equity classification and makes targeted improvements to the disclosures for convertible instruments and earnings-per-share (“EPS”) guidance. This update will be effective for the Company’s fiscal years beginning after December 15, 2023, and interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. Entities can elect to adopt the new guidance through either a modified retrospective method of transition or a fully retrospective method of transition. The Company adopted the new standard with no impact on its consolidated financial statements as of August 1, 2023. In June 2022, the FASB issued ASU 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions (“ASU 2022-03”), which clarifies the guidance in Accounting Standards Codification Topic 820, Fair Value Measurement (“Topic 820”), when measuring the fair value of an equity security subject to contractual restrictions that prohibit the sale of an equity security and introduces new disclosure requirements for equity securities subject to contractual sale restrictions that are measured at fair value in accordance with Topic 820. ASU 2022-03 is effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years, and early adoption is permitted. The Company is currently evaluating the impact that the adoption of this guidance will have on its consolidated financial statements. In November 2023, the FASB issued Update 2023-07-Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures which requires disclosure of the title and position of the Chief Operating Decision Maker (“CODM”), an explanation of how the CODM uses the reported measure of segment profit or loss in assessing segment performance and deciding how to allocate resources, and disclosure of significant expenses regularly provided to the CODM that are included within the reported measure of segment profit or loss. The amendments of ASU 2023-07 are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted, and should be applied retrospectively to all periods presented. The Company is currently evaluating the impact of this standard, including timing of adoption. In December 2023, the FASB issued Update 2023-09-Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which enhances the disclosure requirements for income tax rate reconciliation, domestic and foreign income taxes paid, and unrecognized tax benefits. The amendments of ASU 2023-09 are effective for annual periods beginning after December 15, 2024. Early adoption is permitted, and should be applied prospectively. The Company is currently evaluating the impact of this standard, including timing of adoption.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
SCHEDULE OF ACCOUNTS RECEIVABLE	Accounts receivable, net consists of amounts due from invoiced customers and product deliveries and were as follows: SCHEDULE OF ACCOUNTS RECEIVABLE 2023 2022 As of December 31, 2023 2022 Trade receivables $ 272,696 $ 512,420 Less: Allowance for credit losses (53,696 ) (2,349 ) Accounts receivable, net $ 219,000 $ 510,071
SCHEDULE OF ESTIMATED USEFUL LIVES	The estimated useful lives for significant property and equipment categories are as follows: SCHEDULE OF ESTIMATED USEFUL LIVES Computer Equipment and Software 1 3 Furniture and Fixtures 2 7 Machinery and Equipment 5 10 Leasehold Improvements Shorter of useful or lease life
SCHEDULE OF ANTIDILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS PER SHARE	The following potentially dilutive securities have been excluded from the computation of diluted weighted average shares outstanding as they would be anti-dilutive: SCHEDULE OF ANTIDILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS PER SHARE 2023 2022 As of December 31, 2023 2022 Options to purchase Common Stock 38,696 97,240 Restricted stock unvested 36,235 82,570 Warrants outstanding 11,605,758 763,253 Preferred stock outstanding 12,379,067 309 Totals 24,059,756 943,372

REVENUES (Tables)

REVENUES (Tables)	12 Months Ended
	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
SCHEDULE OF DISAGGREGATION OF REVENUE	Revenue disaggregated by type consists of the following: SCHEDULE OF DISAGGREGATION OF REVENUE 2023 2022 Years Ended December 31, 2023 2022 Revenue type Product revenue $ 469,812 $ 2,716,583 Miscellaneous Income 16,399 44,887 Shipping revenue 12,706 229,027 Total Revenue $ 498,917 $ 2,990,497

INVENTORY (Tables)

INVENTORY (Tables)	12 Months Ended
	Dec. 31, 2023
Inventory Disclosure [Abstract]
SCHEDULE OF INVENTORY	Inventory consisted of the following: SCHEDULE OF INVENTORY 2023 2022 As of December 31, 2023 2022 Raw materials $ 3,252,280 $ 330,931 Work-in-progress 179,702 — Finished goods — 639,450 Total $ 3,431,982 $ 970,381

PREPAID EXPENSES AND OTHER CU_2

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Tables)	12 Months Ended
	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
SCHEDULE OF PREPAID EXPENSES AND OTHER CURRENT ASSETS	SCHEDULE OF PREPAID EXPENSES AND OTHER CURRENT ASSETS 2023 2022 As of December 31, 2023 2022 Prepayments for inventory $ 1,524,831 $ 1,174,466 Prepayment for insurance 227,945 118,434 Prepaid other 97,803 7,094 Prepayment on software 37,203 103,851 Prepayments on advances on design — 75,000 Total Prepaid Expenses and Other Current Assets $ 1,887,782 $ 1,478,845

PROPERTY AND EQUIPMENT, NET (Ta

PROPERTY AND EQUIPMENT, NET (Tables)	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
SCHEDULE OF PROPERTY AND EQUIPMENT, NET	Property and equipment, net consisted of the following: SCHEDULE OF PROPERTY AND EQUIPMENT, NET 2023 2022 As of December 31, 2023 2022 Computer and equipment $ 3,619,041 $ 1,970,001 Lease improvements 1,094,025 952,952 Computer software 495,295 455,875 Furniture and fixtures 395,703 323,789 Property and equipment, gross 5,604,064 3,702,617 Less: Accumulated depreciation (2,486,900 ) (1,510,280 ) Property and equipment, net $ 3,117,164 $ 2,192,337

ACCRUED EXPENSES AND OTHER CU_2

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2023
Payables and Accruals [Abstract]
SCHEDULE OF ACCRUED EXPENSES	SCHEDULE OF ACCRUED EXPENSES 2023 2022 As of December 31, 2023 2022 Accrued professional and consulting fees $ 497,719 $ 410,711 Accrued payroll and severance 575,111 6,000 Accrued warranty reserve 401,440 410,017 Accrued expenses other 77,802 138,209 Other current liabilities 104,469 — Total accrued expenses and other current liabilities $ 1,656,541 $ 964,937

STOCKHOLDERS_ EQUITY (Tables)

STOCKHOLDERS’ EQUITY (Tables)	12 Months Ended
	Dec. 31, 2023
Class of Stock [Line Items]
SCHEDULE OF WARRANT ACTIVITY	A summary of the Company’s warrants to purchase common stock activity is as follows: SCHEDULE OF WARRANT ACTIVITY Shares Underlying Warrants Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Outstanding at December 31, 2021 763,603 $ 58.96 2.31 Expired (350 ) 1,324.80 — Outstanding at December 31, 2022 763,253 58.40 1.32 Granted 11,313,940 2.00 — Expired (471,435 ) 58.40 — Outstanding at December 31, 2023 11,605,758 $ 3.42 4.42
Series H Convertible Preferred Stock [Member]
Class of Stock [Line Items]
SCHEDULE OF PAYMENT OF PREFERRED STOCK	As of December 31, 2023, SCHEDULE OF PAYMENT OF PREFERRED STOCK Number of Series H Preferred Stock outstanding as of December 31, 2023 8 Multiplied by the stated value $ 154 Equals the gross stated value $ 1,232 Divided by the conversion price $ 1,478.40 Equals the convertible shares of Company Common Stock 1 Multiplied by the fair market value of Company Common Stock as of December 31, 2023 $ 1.76 Liquidation value $ 2
Convertible Preferred Stock Series H-3 [Member]
Class of Stock [Line Items]
SCHEDULE OF PAYMENT OF PREFERRED STOCK	As of December 31, 2023, SCHEDULE OF PAYMENT OF PREFERRED STOCK Number of Series H-3 Preferred Stock outstanding as of December 31, 2023 1,234 Multiplied by the stated value $ 138.00 Equals the gross stated value $ 170,292 Divided by the conversion price $ 1,324.80 Equals the convertible shares of Company Common Stock 129 Multiplied by the fair market value of Company Common Stock as of December 31, 2023 $ 1.76 Liquidation value $ 227
Series H-6 Convertible Preferred Stock [Member]
Class of Stock [Line Items]
SCHEDULE OF PAYMENT OF PREFERRED STOCK	As of December 31, 2023, SCHEDULE OF PAYMENT OF PREFERRED STOCK Number of Series H-6 Preferred Stock outstanding as of December 31, 2023 50 Multiplied by the stated value $ 72.00 Equals the gross stated value $ 3,600 Divided by the conversion price $ 5.76 Equals the convertible shares of Company Common Stock 625 Multiplied by the fair market value of Company Common Stock as of December 31, 2023 $ 1.76 Liquidation Value $ 1,100

STOCK BASED COMPENSATION (Table

STOCK BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
SCHEDULE OF STOCK BASED COMPENSATION	Stock-based compensation, including stock options, warrants and restricted stock, expense is included in the consolidated statement of operations as follows: SCHEDULE OF STOCK BASED COMPENSATION 2023 2022 Years Ended December 31, 2023 2022 General and administrative $ 887,765 $ 1,192,396 Research and development 24,240 21,922 Sales and marketing 6,053 25,811 Total $ 918,058 $ 1,240,129
SCHEDULE OF STOCK BASED COMPENSATION, STOCK OPTIONS, ACTIVITY	The following table reflects the stock option activity: SCHEDULE OF STOCK BASED COMPENSATION, STOCK OPTIONS, ACTIVITY Number of Shares Weighted Average Exercise Price Contractual Life (Years) Outstanding at December 31, 2022 97,240 $ 49.20 7.56 Forfeitures (58,544 ) 23.57 Outstanding at December 31, 2023 38,696 $ 90.99 6.53
SCHEDULE OF STOCK BASED PAYMENT AWARD, STOCK OPTIONS, VALUATION ASSUMPTIONS	The Company uses the following inputs when valuing stock-based awards during the year ended December 31, 2022. The Company did not issue any new awards during the year ended December 31, 2023. SCHEDULE OF STOCK BASED PAYMENT AWARD, STOCK OPTIONS, VALUATION ASSUMPTIONS As of December 31, 2022 Expected life (years) 6.0 Risk-free interest rate 3.04 % Expected volatility 128.67 % Stock Price $ 6.72 Exercise Price $ 7.76
SCHEDULE OF RESTRICTED STOCK ACTIVITY	The following table reflects the restricted stock activity: SCHEDULE OF RESTRICTED STOCK ACTIVITY Number of Shares Weighted Average Grant Price Outstanding at December 31, 2022 82,570 $ 15.28 Granted 95,087 6.00 Vested (85,172 ) (6.70 ) Forfeited (56,250 ) (19.86 ) Outstanding at December 31, 2023 36,235 $ 4.01

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
SCHEDULE OF COMPONENTS OF LEASE EXPENSES	SCHEDULE OF COMPONENTS OF LEASE EXPENSES 2023 2022 Years Ended December 31, 2023 2022 Operating lease expense $ 244,785 $ 409,543 Short-term lease expense 479,695 153,572 Total lease cost $ 724,480 $ 563,115
SCHEDULE OF OPERATING LEASES RIGHT OF USE ASSETS AND LIABILITIES	Balance sheet information related to leases consists of the following: SCHEDULE OF OPERATING LEASES RIGHT OF USE ASSETS AND LIABILITIES 2023 2022 December 31, 2023 2022 Assets Operating lease – right-of-use asset $ 671,451 $ 819,401 Total lease assets $ 671,451 $ 819,401 Liabilities Current liabilities: Lease obligation – operating lease $ 196,682 $ 165,767 Noncurrent liabilities: Lease obligation - operating lease, net of current portion 502,831 693,776 Total lease liability $ 699,513 $ 859,543
SCHEDULE OF WEIGHTED AVERAGE REMAINING LEASE TERM AND DISCOUNT RATE	The weighted-average remaining lease term and discount rate is as follows: SCHEDULE OF WEIGHTED AVERAGE REMAINING LEASE TERM AND DISCOUNT RATE Weighted average remaining lease term (in years) – operating lease 3.30 Weighted average discount rate – operating lease 10.41 %
SCHEDULE OF CASH FLOW INFORMATION	Cash flow information related to leases consists of the following: SCHEDULE OF CASH FLOW INFORMATION December 31, 2023 December 31, 2022 Operating cash flows for operating leases $ 247,533 $ 306,689 Supplemental non-cash amounts of lease liabilities arising from obtaining right of use assets $ — $ —
SCHEDULE OF FUTURE MINIMUM RENTAL PAYMENTS FOR OPERATING LEASES	Future minimum lease payment under non-cancellable lease as of December 31, 2023 are as follows: SCHEDULE OF FUTURE MINIMUM RENTAL PAYMENTS FOR OPERATING LEASES Operating Leases 2024 $ 254,277 2025 261,223 2026 268,378 2027 44,929 Total minimum lease payments 828,807 Less effects of discounting (129,294 ) Present value of future minimum lease payments $ 699,513

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
SCHEDULE OF FAIR VALUE, ASSETS AND LIABILITIES MEASURED ON RECURRING BASIS	The following table sets forth a summary of the Company’s assets and liabilities that are measured at fair value on a recurring basis: SCHEDULE OF FAIR VALUE, ASSETS AND LIABILITIES MEASURED ON RECURRING BASIS Description Level 2023 2022 December 31, Description Level 2023 2022 Assets: 1 Marketable securities 1 $ — $ 9,848,804 Money market accounts 1 $ 1,805,597 $ 20,312,844 Liabilities: Warrant liability (see Note 3) 3 $ 13,319,800 $ — Derivative liability (see Note 3) 3 $ 9,400,000 $ —
SCHEDULE OF CHANGE IN FAIR VALUE WARRANT LIABILITY	The following table sets forth a summary of the change in the fair value of the warrant liability that is measured at fair value on a recurring basis: SCHEDULE OF CHANGE IN FAIR VALUE WARRANT LIABILITY December 31, 2023 Balance on December 31, 2022 $ — Issuance of warrants 9,969,480 Change in fair value of warrant liability 3,350,320 Balance on December 31, 2023 $ 13,319,800
SCHEDULE OF CHANGE IN FAIR VALUE OF DERIVATIVE LIABILITY	The following table sets forth a summary of the change in the fair value of the derivative liability that is measured at fair value on a recurring basis: SCHEDULE OF CHANGE IN FAIR VALUE OF DERIVATIVE LIABILITY December 31, 2023 Balance on December 31, 2022 $ — Issuance of convertible preferred stock with bifurcated embedded derivative 5,147,000 Change in fair value of bifurcated embedded derivative 4,253,000 Balance on December 31, 2023 $ 9,400,000

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
SCHEDULE OF RECONCILIATION STATUTORY FEDERAL INCOME TAX RATE	The following is a reconciliation of the statutory federal income tax rate applied to pre-tax net loss compared to the income taxes in the statement of operations as of December 31, 2023 and 2022. SCHEDULE OF RECONCILIATION STATUTORY FEDERAL INCOME TAX RATE December 31, 2023 December 31, 2022 Income tax benefit at statutory U.S. federal rate $ (7,165,506 ) $ (4,816,424 ) Equity issuance costs 267,864 — Warrant liability 703,567 — Derivative liability 884,940 — Equity based compensation 874,366 — Income tax benefit attributable to U.S. states (28,316 ) (936,810 ) Change in valuation allowance 4,348,711 5,701,853 Change in state tax rate 114,374 — Stock-based compensation — 51,381 Total income tax expense $ — $ —
SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES	Deferred income taxes reflect the net effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The following table sets forth deferred income tax assets and liabilities as of the date shown: SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES December 31, 2023 December 31, 2022 Deferred tax assets: Net operating losses $ 19,958,440 $ 15,843,010 Intangible assets 80,797 99,566 Capitalized research and development expense 2,437,176 1,490,870 Equity based compensation 74,109 743,567 Lease liability 147,709 210,195 Warrants 116,639 156,851 Accrued compensation — 1,467 Property and equipment — 1,492 Other 180,979 113,487 Deferred tax assets 22,995,849 18,660,505 Deferred tax liabilities ROU asset (141,783 ) (200,379 ) Other (45,228 ) — Deferred tax liabilities (187,011 ) (200,379 ) Valuation allowance (22,808,838 ) (18,460,126 ) Net deferred tax asset/(liability) $ — $ —
SCHEDULE OF INCOME TAX EXAMINATION	The following table sets for the tax years subject to examination for the major jurisdictions where the Company conducts business as of December 31, 2023. SCHEDULE OF INCOME TAX EXAMINATION Federal 2020 to 2023 Texas and Georgia 2019 to 2023

LIQUIDITY AND OTHER UNCERTAIN_2

LIQUIDITY AND OTHER UNCERTAINTIES (Details Narrative) - USD ($)		12 Months Ended
	Aug. 10, 2023	Dec. 31, 2023	Dec. 31, 2022	Aug. 07, 2023
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Cash and Cash Equivalents, at Carrying Value		$ 33,440,867	$ 39,096,562
Restricted Cash		10,000,000
Net loss		34,160,455	22,935,353
Net cash flows used in operations		26,181,465	18,728,643
Working capital		4,996,594
Proceeds from sale of convertible preferred stock		$ 21,632,156
Purchase agreement description		The certificate of designations for the Series H-7 Preferred Shares (the “Certificate of Designations”) contains certain restrictive provisions, including (i) a requirement to maintain unencumbered, unrestricted cash and cash equivalents on hand in an amount equal to (a) until December 31, 2023, at least $20,000,000 plus the net proceeds from the sale of the Series H-7 Preferred Shares pursuant to the Purchase Agreement, and (b) from January 1, 2024 and until an aggregate of eighty percent (80%) of the Series H-7 Preferred Shares have been converted into shares of common stock, at least $21,000,000, and (ii) a requirement to deposit an amount equal to $10,000,000 from the Private Placement proceeds into a newly established segregated deposit account of the Company (“Segregated Cash”), and to use such Segregated Cash solely for the purpose of performing the Company’s monetary obligations to the holders of the Series H-7 Preferred Shares, provided, however, that the Company may use the Segregated Cash for any purpose, including general corporate purposes, with the prior written consent of holders of at least 75% of the outstanding Series H-7 Preferred Shares. As of December 31, 2023, the Company was in compliance with the restrictive provisions discussed above.
Series H-7 Convertible Preferred Stock [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Temporary equity shares issued		22,000	0
Temporary equity stated value		$ 1,000	$ 1,000
Securities Purchase Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Deposit amount	$ 10,000,000
Securities Purchase Agreement [Member] | Series H-7 Convertible Preferred Stock [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Temporary equity shares issued				22,000
Preferred stock, shares par value				$ 0.0001
Temporary equity stated value				$ 1,000
Aggregate exercisable shares of coomon stock				2,750,000
Proceeds from sale of convertible preferred stock	$ 22,000,000

SCHEDULE OF ACCOUNTS RECEIVABLE

SCHEDULE OF ACCOUNTS RECEIVABLE (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Trade receivables	$ 272,696	$ 512,420
Less: Allowance for credit losses	(53,696)	(2,349)
Accounts receivable, net	$ 219,000	$ 510,071

SCHEDULE OF ESTIMATED USEFUL LI

SCHEDULE OF ESTIMATED USEFUL LIVES (Details)	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property, Plant, and Equipment, Useful Life, Term, Description [Extensible Enumeration]	Leasehold Improvements [Member]
Computer Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, estimated useful lives	1 year
Computer Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, estimated useful lives	3 years
Furniture and Fixtures [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, estimated useful lives	2 years
Furniture and Fixtures [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, estimated useful lives	7 years
Machinery and Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, estimated useful lives	5 years
Machinery and Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, estimated useful lives	10 years

SCHEDULE OF ANTIDILUTIVE SECURI

SCHEDULE OF ANTIDILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS PER SHARE (Details) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Totals	24,059,756	943,372
Share-Based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Totals	38,696	97,240
Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Totals	36,235	82,570
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Totals	11,605,758	763,253
Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Totals	12,379,067	309

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Restricted cash	$ 10,000,000
Marketable securities		9,848,804
Allowance for credit losses	53,696	2,349
Changes in allowance for credit losses, accounts receivable	51,347
Bad debt expense	344,492	4,485
Shipping expenses	(6,034)	442,932
Research and development expenses	$ 7,418,026	$ 6,845,451

SCHEDULE OF DISAGGREGATION OF R

SCHEDULE OF DISAGGREGATION OF REVENUE (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Total Revenue	$ 498,917	$ 2,990,497
Product [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	469,812	2,716,583
Miscellaneous Income [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	16,399	44,887
Shipping and Handling [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	$ 12,706	$ 229,027

REVENUES (Details Narrative)

REVENUES (Details Narrative) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Warranty reserves	$ 401,440	$ 410,017

SCHEDULE OF INVENTORY (Details)

SCHEDULE OF INVENTORY (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 3,252,280	$ 330,931
Work-in-progress	179,702
Finished goods		639,450
Total	$ 3,431,982	$ 970,381

INVENTORY (Details Narrative)

INVENTORY (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Inventory [Line Items]
Impairment charges of inventory	$ 3,048,485	$ 2,476,322
Cost of goods sold	5,133,996	6,043,506
Cenntro Automotive Group Ltd [Member]
Inventory [Line Items]
Inventory write down		1,317,289
Cost of goods sold		621,097
Club Car Discount [Member]
Inventory [Line Items]
Inventory write down	2,433,394	413,561
Inventory reserves	615,091	124,375
Impairment charges of inventory	$ 3,048,485
Impairment of inventory		$ 2,476,322

SCHEDULE OF PREPAID EXPENSES AN

SCHEDULE OF PREPAID EXPENSES AND OTHER CURRENT ASSETS (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepayments for inventory	$ 1,524,831	$ 1,174,466
Prepayment for insurance	227,945	118,434
Prepaid other	97,803	7,094
Prepayment on software	37,203	103,851
Prepayments on advances on design		75,000
Total Prepaid Expenses and Other Current Assets	$ 1,887,782	$ 1,478,845

SCHEDULE OF PROPERTY AND EQUIPM

SCHEDULE OF PROPERTY AND EQUIPMENT, NET (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 5,604,064	$ 3,702,617
Less: Accumulated depreciation	(2,486,900)	(1,510,280)
Property and equipment, net	3,117,164	2,192,337
Computer and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	3,619,041	1,970,001
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,094,025	952,952
Computer Software [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	495,295	455,875
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 395,703	$ 323,789

PROPERTY AND EQUIPMENT, NET (De

PROPERTY AND EQUIPMENT, NET (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Depreciation	$ 1,074,684	$ 580,445
Realized loss on disposal of assets	40,181
Retiring Legacy Assets [Member]
Property, Plant and Equipment [Line Items]
Depreciation	$ 101,581

SCHEDULE OF ACCRUED EXPENSES (D

SCHEDULE OF ACCRUED EXPENSES (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Accrued professional and consulting fees	$ 497,719	$ 410,711
Accrued payroll and severance	575,111	6,000
Accrued warranty reserve	401,440	410,017
Accrued expenses other	77,802	138,209
Other current liabilities	104,469
Total accrued expenses and other current liabilities	$ 1,656,541	$ 964,937

SCHEDULE OF PAYMENT OF PREFERRE

SCHEDULE OF PAYMENT OF PREFERRED STOCK (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Convertible Preferred Stock Series H [Member]
Class of Stock [Line Items]
Number of Series H-6 Preferred Stock outstanding as of December 31, 2023	8	8
Multiplied by the stated value	$ 154
Equals the gross stated value	$ 1,232
Divided by the conversion price	$ 1,478.40
Equals the convertible shares of Company Common Stock	1
Multiplied by the fair market value of Company Common Stock as of December 31, 2023	$ 1.76
Liquidation Value	$ 2
Convertible Preferred Stock Series H-3 [Member]
Class of Stock [Line Items]
Number of Series H-6 Preferred Stock outstanding as of December 31, 2023	1,234	1,234
Multiplied by the stated value	$ 138
Equals the gross stated value	$ 170,292
Divided by the conversion price	$ 1,324.80
Equals the convertible shares of Company Common Stock	129
Multiplied by the fair market value of Company Common Stock as of December 31, 2023	$ 1.76
Liquidation Value	$ 227
Series H-6 Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Number of Series H-6 Preferred Stock outstanding as of December 31, 2023	50
Multiplied by the stated value	$ 72
Equals the gross stated value	$ 3,600
Divided by the conversion price	$ 5.76
Equals the convertible shares of Company Common Stock	625
Multiplied by the fair market value of Company Common Stock as of December 31, 2023	$ 1.76
Liquidation Value	$ 1,100

SCHEDULE OF WARRANT ACTIVITY (D

SCHEDULE OF WARRANT ACTIVITY (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Equity [Abstract]
Shares Underlying Warrants Outstanding, Beginning balance	763,253	763,603
Weighted Average Exercise Price, Beginning balance	$ 58.40	$ 58.96
Weighted Average Remaining Contractual Life	4 years 5 months 1 day	1 year 3 months 25 days	2 years 3 months 21 days
Shares Underlying Warrants Expired	(471,435)	(350)
Weighted Average Exercise Price Expired	$ 58.40	$ 1,324.80
Shares Underlying Warrants Granted	11,313,940
Weighted Average Exercise Price Granted	$ 2
Shares Underlying Warrants Outstanding, Ending balance	11,605,758	763,253	763,603
Weighted Average Exercise Price, Ending balance	$ 3.42	$ 58.40	$ 58.96

STOCKHOLDERS_ EQUITY (Details N

STOCKHOLDERS’ EQUITY (Details Narrative)			12 Months Ended
	Aug. 07, 2023 USD ($) $ / shares shares	Feb. 05, 2020 $ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Sep. 15, 2023 shares	Sep. 14, 2023 shares
Class of Stock [Line Items]
Common stock, shares authorized | shares			200,000,000	200,000,000	200,000,000	100,000,000
Common stock, issued | shares			4,913,907	4,655,205	173,530
Preferred stock, designated | shares			20,000,000	20,000,000
Estimated fair value of derivative | $			$ 9,400,000
Fair value of warrants | $			3,350,320
Derivative, gain on derivative | $			$ 4,253,000
Series H-7 Warrants [Member]
Class of Stock [Line Items]
Warrants to purchase common stock | shares			8,415,000
Transaction cost | $			$ 1,275,543
Fair value of warrants | $			$ 9,969,480
Price per share were issued			$ 2
Series H-7 Warrants [Member] | Other Operating Income (Expense) [Member]
Class of Stock [Line Items]
Fair value of warrants | $			$ 3,350,320
Series H-7 Warrants [Member] | Maximum [Member]
Class of Stock [Line Items]
Exercise price per share			$ 8
Series H-7 Warrants [Member] | Minimum [Member]
Class of Stock [Line Items]
Exercise price per share			$ 2
Series H-7 Warrants One [Member]
Class of Stock [Line Items]
Fair value of warrants | $			$ 13,319,800
Series H5 Warrants [Member]
Class of Stock [Line Items]
Warrants to purchase common stock | shares			93,940
Exercise price per share			$ 6.336
Series H5 Warrants [Member] | Maximum [Member]
Class of Stock [Line Items]
Exercise price per share			20
Series H5 Warrants [Member] | Minimum [Member]
Class of Stock [Line Items]
Exercise price per share			8
Series H 7 Preferred Stock [Member] | Maximum [Member]
Class of Stock [Line Items]
Exercise price per share			8
Series H 7 Preferred Stock [Member] | Minimum [Member]
Class of Stock [Line Items]
Exercise price per share			$ 6.336
Measurement Input, Option Volatility [Member]
Class of Stock [Line Items]
Derivative liability measurement input			85
Measurement Input, Expected Term [Member]
Class of Stock [Line Items]
Derivative liability term			1 year 1 month 6 days
Measurement Input, Expected Term [Member] | Series H-7 Warrants [Member]
Class of Stock [Line Items]
Expected life (years)			5 years
Measurement Input, Expected Term [Member] | Series H-7 Warrants One [Member]
Class of Stock [Line Items]
Expected life (years)			4 years 7 months 9 days
Measurement Input, Discount Rate [Member]
Class of Stock [Line Items]
Derivative liability measurement input			5.9
Measurement Input, Expected Dividend Rate [Member]
Class of Stock [Line Items]
Derivative liability measurement input			8
Measurement Input, Expected Dividend Rate [Member] | Series H-7 Warrants [Member]
Class of Stock [Line Items]
Warrants and rights outstanding, measurement input			0
Measurement Input, Expected Dividend Rate [Member] | Series H-7 Warrants One [Member]
Class of Stock [Line Items]
Warrants and rights outstanding, measurement input			0
Measurement Input Penalty Dividend Rate [Member]
Class of Stock [Line Items]
Derivative liability measurement input			15
Measurement Input, Default Rate [Member]
Class of Stock [Line Items]
Derivative liability measurement input			5.2
Measurement Input, Share Price [Member] | Series H-7 Warrants [Member]
Class of Stock [Line Items]
Warrants and rights outstanding, measurement input			5.20
Measurement Input, Share Price [Member] | Series H-7 Warrants One [Member]
Class of Stock [Line Items]
Warrants and rights outstanding, measurement input			1.76
Measurement Input, Exercise Price [Member] | Series H-7 Warrants [Member]
Class of Stock [Line Items]
Warrants and rights outstanding, measurement input			8
Measurement Input, Exercise Price [Member] | Series H-7 Warrants One [Member]
Class of Stock [Line Items]
Warrants and rights outstanding, measurement input			2
Measurement Input, Price Volatility [Member] | Series H-7 Warrants [Member]
Class of Stock [Line Items]
Warrants and rights outstanding, measurement input			96
Measurement Input, Price Volatility [Member] | Series H-7 Warrants One [Member]
Class of Stock [Line Items]
Warrants and rights outstanding, measurement input			90
Measurement Input, Risk Free Interest Rate [Member] | Series H-7 Warrants [Member]
Class of Stock [Line Items]
Warrants and rights outstanding, measurement input			4.21
Measurement Input, Risk Free Interest Rate [Member] | Series H-7 Warrants One [Member]
Class of Stock [Line Items]
Warrants and rights outstanding, measurement input			3.87
Placement Agent [Member]
Class of Stock [Line Items]
Cash fee percentage	6%
Preferred shares convertible percentage	2%
Exercise price per share	$ 8
Reduced in warrant exercise price	$ 2
Expected life (years)	5 years
Placement Agent Warrants [Member] | Series H-7 Warrants [Member]
Class of Stock [Line Items]
Warrants to purchase common stock | shares			55,000
Investors [Member] | Series H-7 Warrants [Member]
Class of Stock [Line Items]
Warrants to purchase common stock | shares			2,750,000
Series H Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock stated value			$ 154
Conversion price			$ 1,478.40
Aggregate issued and outstanding shares percentage			9.99
Series H-3 Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock stated value			$ 138
Aggregate issued and outstanding shares percentage			9.99
Series H-6 Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock stated value		$ 72
Conversion price		$ 5.76	$ 5.76
Aggregate issued and outstanding shares percentage		0.0999
Preferred stock, designated | shares		50,000
Preferred stock, conversion price description		Each share of Series H-6 Preferred Stock is convertible at any time at the option of the holder thereof, into a number of shares of common stock of the Company determined by dividing the H-6 Stated Value by the initial conversion price of $28.80 per share, which was then further reduced to $20.00 under the anti-dilution adjustment provision, subject to a 9.99% blocker provision and then decreased to $5.76 upon the reverse stock split.
Series H-7 Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Temporary stock, shares authorized | shares			22,000	0
Temporary stock, par value			$ 1,000	$ 1,000
Estimated fair value of derivative | $	$ 5,147,000		$ 5,147,000
Preferred stock, discount on shares | $			15,484,324
Transaction cost | $			563,324
Cash | $			367,844
Fair value of warrants | $			9,774,000
Deemed dividend | $			3,980,274
Series H-7 Convertible Preferred Stock [Member] | Measurement Input, Option Volatility [Member]
Class of Stock [Line Items]
Derivative liability measurement input	75
Series H-7 Convertible Preferred Stock [Member] | Measurement Input, Expected Term [Member]
Class of Stock [Line Items]
Derivative liability term	1 year 5 months 23 days
Series H-7 Convertible Preferred Stock [Member] | Measurement Input, Discount Rate [Member]
Class of Stock [Line Items]
Derivative liability measurement input	12.2
Series H-7 Convertible Preferred Stock [Member] | Measurement Input, Expected Dividend Rate [Member]
Class of Stock [Line Items]
Derivative liability measurement input	8
Series H-7 Convertible Preferred Stock [Member] | Measurement Input Penalty Dividend Rate [Member]
Class of Stock [Line Items]
Derivative liability measurement input	15
Series H-7 Convertible Preferred Stock [Member] | Measurement Input, Default Rate [Member]
Class of Stock [Line Items]
Derivative liability measurement input	14.8
Series H-7 Convertible Preferred Stock [Member] | Placement Agent Warrants [Member]
Class of Stock [Line Items]
Preferred allocated, amount | $			$ 195,480
Series H-7 Convertible Preferred Stock [Member] | Securities Purchase Agreement [Member]
Class of Stock [Line Items]
Preferred stock stated value	$ 0.0001
Conversion price	$ 8
Temporary stock, shares authorized | shares	22,000
Temporary stock, par value	$ 1,000
Preferred stock, convertible, shares issuable | shares	2,750,000		12,378,321
Warrants to purchase common stock | shares	2,750,000
Stock redemption terms	The amortization payments due upon such redemption are payable, at the Company’s election, in cash at 105% of the Installment Redemption Amount (as defined in the Certificate of Designations), or subject to certain limitations, in shares of common stock valued at the lower of (i) the Conversion Price then in effect and (ii) the greater of (A) 80% of the average of the three lowest closing prices of the Company’s common stock during the thirty consecutive trading day period immediately prior to the date the amortization payment is due and (B) $0.0744 (subject to adjustment for stock splits, stock dividends, stock combinations, recapitalizations or other similar events) or, in any case, such lower amount as permitted, from time to time, by the Nasdaq Stock Market. The holders of the Series H-7 Preferred Shares have the option to defer amortization payments or, subject to certain limitations as specified in the Certificate of Designations, can elect to accelerate installment conversion amounts.
Dividend payment terms	The holders of the Series H-7 Preferred Shares are entitled to dividends of 8.0% per annum, compounded monthly, which are payable in cash or shares of common stock at the Company’s option, in accordance with the terms of the Certificate of Designations. Upon the occurrence and during the continuance of a Triggering Event (as defined in the Certificate of Designations), the Series H-7 Preferred Shares will accrue dividends at the rate of 15% per annum. Upon conversion or redemption, the holders of the Series H-7 Preferred Shares are also entitled to receive a dividend make-whole payment. The holders of Series H-7 Preferred Shares are entitled to vote with the holders of the common stock on all matters that such common stockholders are entitled to vote upon.
Restricted Stock [Member]
Class of Stock [Line Items]
Number of shares vested | shares			85,172	46,835
Series H-3 Warrants [Member]
Class of Stock [Line Items]
Conversion price			$ 1,324.80
Deemed Dividend [Member] | Series H5 Warrants [Member]
Class of Stock [Line Items]
Fair value of warrants | $			$ 199,000
Initial Deemed Dividend [Member] | Series H5 Warrants [Member]
Class of Stock [Line Items]
Fair value of warrants | $			165,000
Fair value of original award prior to modification | $			$ 21,000
Initial Deemed Dividend [Member] | Measurement Input, Expected Term [Member] | Series H5 Warrants [Member]
Class of Stock [Line Items]
Expected life (years)			1 year 9 months 25 days
Initial Deemed Dividend [Member] | Measurement Input, Expected Dividend Rate [Member] | Series H5 Warrants [Member]
Class of Stock [Line Items]
Warrants and rights outstanding, measurement input			0
Initial Deemed Dividend [Member] | Measurement Input, Share Price [Member] | Series H5 Warrants [Member]
Class of Stock [Line Items]
Warrants and rights outstanding, measurement input			5.20
Initial Deemed Dividend [Member] | Measurement Input, Price Volatility [Member] | Series H5 Warrants [Member]
Class of Stock [Line Items]
Warrants and rights outstanding, measurement input			76
Initial Deemed Dividend [Member] | Measurement Input, Risk Free Interest Rate [Member] | Series H5 Warrants [Member]
Class of Stock [Line Items]
Warrants and rights outstanding, measurement input			4.91
Second Deemed Dividend [Member] | Series H5 Warrants [Member]
Class of Stock [Line Items]
Fair value of warrants | $			$ 141,000
Fair value of original award prior to modification | $			$ 86,000
Second Deemed Dividend [Member] | Measurement Input, Expected Term [Member] | Series H5 Warrants [Member]
Class of Stock [Line Items]
Expected life (years)			1 year 8 months 23 days
Second Deemed Dividend [Member] | Measurement Input, Expected Dividend Rate [Member] | Series H5 Warrants [Member]
Class of Stock [Line Items]
Warrants and rights outstanding, measurement input			0
Second Deemed Dividend [Member] | Measurement Input, Share Price [Member] | Series H5 Warrants [Member]
Class of Stock [Line Items]
Warrants and rights outstanding, measurement input			3.90
Second Deemed Dividend [Member] | Measurement Input, Price Volatility [Member] | Series H5 Warrants [Member]
Class of Stock [Line Items]
Warrants and rights outstanding, measurement input			76
Second Deemed Dividend [Member] | Measurement Input, Risk Free Interest Rate [Member] | Series H5 Warrants [Member]
Class of Stock [Line Items]
Warrants and rights outstanding, measurement input			5.13

SCHEDULE OF STOCK BASED COMPENS

SCHEDULE OF STOCK BASED COMPENSATION (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total	$ 918,058	$ 1,240,129
General and Administrative Expense [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total	887,765	1,192,396
Research and Development Expense [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total	24,240	21,922
Selling and Marketing Expense [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total	$ 6,053	$ 25,811

SCHEDULE OF STOCK BASED COMPE_2

SCHEDULE OF STOCK BASED COMPENSATION, STOCK OPTIONS, ACTIVITY (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Number of stock options outstanding, beginning balance	97,240
Weighted average exercise price outstanding, beginning balance	$ 49.20
Weighted average remaining contractual life (years)	6 years 6 months 10 days	7 years 6 months 21 days
Number of stock options, forfeitures	(58,544)
Weighted average exercise price outstanding, forfeitures	$ 23.57
Number of stock options outstanding, ending balance	38,696	97,240
Weighted average exercise price outstanding, ending balance	$ 90.99	$ 49.20

SCHEDULE OF STOCK BASED PAYMENT

SCHEDULE OF STOCK BASED PAYMENT AWARD, STOCK OPTIONS, VALUATION ASSUMPTIONS (Details)	12 Months Ended
	Dec. 31, 2022 $ / shares
Share-Based Payment Arrangement [Abstract]
Expected life (years)	6 years
Risk-free interest rate	3.04%
Expected volatility	128.67%
Share price	$ 6.72
Exercise price	$ 7.76

SCHEDULE OF RESTRICTED STOCK AC

SCHEDULE OF RESTRICTED STOCK ACTIVITY (Details) - Restricted Stock Units (RSUs) [Member]	12 Months Ended
	Dec. 31, 2023 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares, outstanding, beginning balance | shares	82,570
Weighted average grant price, outstanding, beginning balance | $ / shares	$ 15.28
Number of shares, granted | shares	95,087
Weighted average grant price, granted | $ / shares	$ 6
Number of shares, vested | shares	(85,172)
Weighted average grant price, vested | $ / shares	$ (6.70)
Number of shares, forfeited | shares	(56,250)
Weighted average grant price, forfeited | $ / shares	$ (19.86)
Number of shares, outstanding, ending balance | shares	36,235
Weighted average grant price, outstanding, ending balance | $ / shares	$ 4.01

STOCK BASED COMPENSATION (Detai

STOCK BASED COMPENSATION (Details Narrative) - USD ($)		12 Months Ended
	Feb. 01, 2023	Dec. 31, 2023	Dec. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Options to purchase shares outstanding		38,696	97,240
Stock compensation expense		$ 918,058	$ 1,240,129
Share-Based Payment Arrangement, Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of stock options vested and exercisable		35,938
Aggregate intrinsic value of stock options vested and exercisable		$ 0
Stock compensation expense		59,624	$ 65,291
Unrecognized compensation expense		$ 41,199
Weighted average remaining term		1 year 4 months 6 days
Restricted Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of stock options vested and exercisable		85,172	46,835
Stock compensation expense		$ 858,434
Shares of restricted stock		23,771
Unrecognized compensation expense		$ 48,064
Restricted Stock [Member] | Director [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock Issued During Period, Shares, Restricted Stock Award, Gross	95,087
Shares Issued, Price Per Share	$ 6
2020 Long-Term Incentive Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares reserved		1,229,956
Number of stock options available for grants		885,284
2017 Long Term Incentive Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares reserved			59,748
Number of stock options available for grants			0
Options to purchase shares outstanding			16,076
2014 Equity Incentive Plan [Member] | DropCar Inc [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares reserved		17,666
Number of stock options available for grants			0

CONCENTRATIONS AND CREDIT RISK

CONCENTRATIONS AND CREDIT RISK (Details Narrative)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Sales Revenue [Member] | Customer Concentration Risk [Member] | Four Customers [Member]
Concentration Risk [Line Items]
Concentration risk percentage	68%
Sales Revenue [Member] | Customer Concentration Risk [Member] | Customer One [Member]
Concentration Risk [Line Items]
Concentration risk percentage	23%
Sales Revenue [Member] | Customer Concentration Risk [Member] | Customer Two [Member]
Concentration Risk [Line Items]
Concentration risk percentage	18%
Sales Revenue [Member] | Customer Concentration Risk [Member] | Customer Three [Member]
Concentration Risk [Line Items]
Concentration risk percentage	16%
Sales Revenue [Member] | Customer Concentration Risk [Member] | Customer Four [Member]
Concentration Risk [Line Items]
Concentration risk percentage	11%
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Four Customers [Member]
Concentration Risk [Line Items]
Concentration risk percentage	82%
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer One [Member]
Concentration Risk [Line Items]
Concentration risk percentage	32%
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer Two [Member]
Concentration Risk [Line Items]
Concentration risk percentage	27%
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer Three [Member]
Concentration Risk [Line Items]
Concentration risk percentage	12%
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer Four [Member]
Concentration Risk [Line Items]
Concentration risk percentage	11%
Cost of Goods and Service, Product and Service Benchmark [Member] | Supplier Concentration Risk [Member] | Supplier [Member]
Concentration Risk [Line Items]
Concentration risk percentage	36%
Cost of Goods and Service, Product and Service Benchmark [Member] | Supplier Concentration Risk [Member] | Supplier One [Member]
Concentration Risk [Line Items]
Concentration risk percentage		50%
Cost of Goods and Service, Product and Service Benchmark [Member] | Supplier Concentration Risk [Member] | Supplier Two [Member]
Concentration Risk [Line Items]
Concentration risk percentage		19%
Cost of Goods and Service, Product and Service Benchmark [Member] | Supplier Concentration Risk [Member] | Supplier Three [Member]
Concentration Risk [Line Items]
Concentration risk percentage		10%

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Related Party [Member]
Related Party Transaction [Line Items]
Due to related parties	$ 15,000	$ 15,000
Board of Directors Chairman [Member]
Related Party Transaction [Line Items]
Due to related parties		$ 60,000

SCHEDULE OF COMPONENTS OF LEASE

SCHEDULE OF COMPONENTS OF LEASE EXPENSES (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Operating lease expense	$ 244,785	$ 409,543
Short-term lease expense	479,695	153,572
Total lease cost	$ 724,480	$ 563,115

SCHEDULE OF OPERATING LEASES RI

SCHEDULE OF OPERATING LEASES RIGHT OF USE ASSETS AND LIABILITIES (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Operating lease – right-of-use asset	$ 671,451	$ 819,401
Total lease assets	671,451	819,401
Lease obligation – operating lease	196,682	165,767
Lease obligation - operating lease, net of current portion	502,831	693,776
Total lease liability	$ 699,513	$ 859,543

SCHEDULE OF WEIGHTED AVERAGE RE

SCHEDULE OF WEIGHTED AVERAGE REMAINING LEASE TERM AND DISCOUNT RATE (Details)	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Weighted average remaining lease term (in years) - operating lease	3 years 3 months 18 days
Weighted average discount rate - operating lease	10.41%

SCHEDULE OF CASH FLOW INFORMATI

SCHEDULE OF CASH FLOW INFORMATION (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Operating cash flows for operating leases	$ 247,533	$ 306,689
Supplemental non-cash amounts of lease liabilities arising from obtaining right of use assets

SCHEDULE OF FUTURE MINIMUM RENT

SCHEDULE OF FUTURE MINIMUM RENTAL PAYMENTS FOR OPERATING LEASES (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
2024	$ 254,277
2025	261,223
2026	268,378
2027	44,929
Total minimum lease payments	828,807
Less effects of discounting	(129,294)
Present value of future minimum lease payments	$ 699,513	$ 859,543

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)	1 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Termination fee		$ 750,000
Accrued expenses		1,656,541	$ 964,937
Cost of goods sold		$ 5,133,996	6,043,506
Operating sub lease, expansion description	Company subleased additional office space to support the Company’s expansion plan. The term is for 16 months with no lease obligation remaining as of December 31, 2022.
Incremental borrowing rate	10.41%
Remaining term of lease		3 years 3 months 18 days
Cash payment for operating lease		$ 247,533	306,689
New Lease Agreement [Member]
Remaining term of lease		3 years 3 months
Cash payment for operating lease		$ 247,533	306,689
Cenntro Automotive Group Ltd [Member]
Prepaid expenses			0	$ 602,016
Accrued expenses			0	$ 602,016
Cost of goods sold			621,097
Inventory written-off			$ 1,317,289

SCHEDULE OF FAIR VALUE, ASSETS

SCHEDULE OF FAIR VALUE, ASSETS AND LIABILITIES MEASURED ON RECURRING BASIS (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Assets:
Marketable securities		$ 9,848,804
Liabilities:
Warrant liability (see Note 3)	13,319,800
Derivative liability (see Note 3)	9,400,000
Fair Value, Inputs, Level 1 [Member]
Assets:
Marketable securities		9,848,804
Money market accounts	1,805,597	20,312,844
Fair Value, Inputs, Level 3 [Member]
Liabilities:
Warrant liability (see Note 3)	13,319,800
Derivative liability (see Note 3)	$ 9,400,000

SCHEDULE OF CHANGE IN FAIR VALU

SCHEDULE OF CHANGE IN FAIR VALUE WARRANT LIABILITY (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Balance on December 31, 2022
Issuance of warrants	9,969,480
Change in fair value of warrant liability	3,350,320
Balance on December 31, 2023	$ 13,319,800

SCHEDULE OF CHANGE IN FAIR VA_2

SCHEDULE OF CHANGE IN FAIR VALUE OF DERIVATIVE LIABILITY (Details) - Derivative Liability [Member]	12 Months Ended
	Dec. 31, 2023 USD ($)
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Balance on December 31, 2022
Issuance of convertible preferred stock with bifurcated embedded derivative	5,147,000
Change in fair value of bifurcated embedded derivative	4,253,000
Balance on December 31, 2023	$ 9,400,000

SCHEDULE OF RECONCILIATION STAT

SCHEDULE OF RECONCILIATION STATUTORY FEDERAL INCOME TAX RATE (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income tax benefit at statutory U.S. federal rate	$ (7,165,506)	$ (4,816,424)
Equity issuance costs	267,864
Warrant liability	703,567
Derivative liability	884,940
Equity based compensation	874,366
Income tax benefit attributable to U.S. states	(28,316)	(936,810)
Change in valuation allowance	4,348,711	5,701,853
Change in state tax rate	114,374
Stock-based compensation		51,381
Total income tax expense

SCHEDULE OF DEFERRED TAX ASSETS

SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets:
Net operating losses	$ 19,958,440	$ 15,843,010
Intangible assets	80,797	99,566
Capitalized research and development expense	2,437,176	1,490,870
Equity based compensation	74,109	743,567
Lease liability	147,709	210,195
Warrants	116,639	156,851
Accrued compensation		1,467
Property and equipment		1,492
Other	180,979	113,487
Deferred tax assets	22,995,849	18,660,505
Deferred tax liabilities
ROU asset	(141,783)	(200,379)
Other	(45,228)
Deferred tax liabilities	(187,011)	(200,379)
Valuation allowance	(22,808,838)	(18,460,126)
Net deferred tax asset/(liability)

SCHEDULE OF INCOME TAX EXAMINAT

SCHEDULE OF INCOME TAX EXAMINATION (Details)	12 Months Ended
	Dec. 31, 2023
Texas And Georgia [Member]
Operating Loss Carryforwards [Line Items]
Income tax examiation year	2019 to 2023
Domestic Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Income tax examiation year	2020 to 2023

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative) - USD ($)		12 Months Ended
	Aug. 16, 2022	Dec. 31, 2023	Dec. 31, 2022
Operating Loss Carryforwards [Line Items]
Deferred Tax Assets, Operating Loss Carryforwards		$ 19,958,440	$ 15,843,010
Operating loss carryforwards, limitations on use		the Company’s NOL carryforwards may be limited in the event a cumulative change in ownership of more than 50% occurs within a three-year period.
Capitalization of research and development costs		$ 7,418,026	6,845,451
Inflation reduction act including minimum tax percentage	15%
Excise tax percentage	1%
Tax Cuts And Jobs Act [Member]
Operating Loss Carryforwards [Line Items]
Capitalization of research and development costs		7,418,028	6,729,353
Domestic Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Deferred Tax Assets, Operating Loss Carryforwards		83,120,531	64,332,435
Operating Loss Carryforwards		$ 995,801
[custom:OperatingLossCarryforwardsMaturityDescription]		20 year carry forward, with a portion beginning to expire in 2036.
[custom:OperatingLossIndefiniteCarryforwards-0]		$ 82,124,730
State and Local Jurisdiction [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards		$ 66,877,457	$ 48,091,426