Arcimoto (FUVV) 10-Q 16 Nov 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2018	Nov. 05, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	Arcimoto Inc
Entity Central Index Key	1,558,583
Amendment Flag	false
Trading Symbol	FUV
Current Fiscal Year End Date	--12-31
Document Type	10-Q
Document Period End Date	Sep. 30, 2018
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,018
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Common Stock, Shares Outstanding		16,027,441

Condensed Balance Sheets (Unaud

Condensed Balance Sheets (Unaudited) - USD ($)	Sep. 30, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 2,371,903	$ 7,824,109
Certificates of deposit	749,815	6,246,850
Accounts receivable	1,035	500
Inventory	1,907,553	194,525
Other current assets	1,617,990	401,160
Total current assets	6,648,296	14,667,144
Property and equipment, net	5,128,263	2,434,026
Other long-term assets	38,844
Total assets	11,815,403	17,101,170
Current liabilities:
Accounts payable	98,494	663,773
Accrued liabilities	627,240	255,758
Customer deposits	395,224	399,967
Current portion of capital lease obligations	367,975
Current portion of warranty accrual	8,400
Total current liabilities	1,497,333	1,319,498
Capital lease obligations, net of current portion	1,572,320
Warranty accrual	16,800
Total liabilities	3,086,453	1,319,498
Commitments and contingencies (Note 9)
Stockholders' equity:
Series A-1 preferred stock, no par value, 1,500,000 authorized, none issued and outstanding as of September 30, 2018 and December 31, 2017, respectively.
Common stock, no par value, 20,000,000 authorized, 16,016,739 and 15,872,001 issued and outstanding as of September 30, 2018 and December 31, 2017, respectively.	27,402,498	27,177,790
Additional paid-in capital	705,206	519,340
Accumulated deficit	(19,378,754)	(11,915,458)
Total stockholders' equity	8,728,950	15,781,672
Total liabilities and stockholders' equity	$ 11,815,403	$ 17,101,170

Condensed Balance Sheets (Una_2

Condensed Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Series A-1 preferred stock, par value
Series A-1 preferred stock, shares authorized	1,500,000	1,500,000
Series A-1 preferred stock, shares issued
Series A-1 preferred stock, shares outstanding
Common stock, par value
Common stock, shares authorized	20,000,000	20,000,000
Common stock, shares issued	16,016,739	15,872,001
Common stock, shares outstanding	16,016,739	15,872,001

Condensed Statements of Operati

Condensed Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenue
Grant revenue				$ 40,580
Product sales - related party			907
Product sales	5,793		90,875
Total revenues	5,793		91,782	40,580
Cost of goods sold	31,625		127,439
Gross profit (loss)	(25,832)		(35,657)	40,580
Operating expenses
Research and development	779,367	288,311	2,190,819	820,213
Sales and marketing	385,738	242,858	1,159,415	478,210
General and administrative	2,054,062	155,568	4,096,227	502,687
Total operating expenses	3,219,167	686,737	7,446,461	1,801,110
Loss from operations	(3,244,999)	(686,737)	(7,482,118)	(1,760,530)
Other income and (expense)
Interest expense	(36,984)	(9,261)	(57,506)	(30,611)
Other income, net	35,857	1,429	76,328	1,489
Net loss	$ (3,246,126)	$ (694,569)	$ (7,463,296)	$ (1,789,652)
Weighted-average common shares outstanding - basic and diluted	15,973,816	13,181,828	15,930,152	12,773,830
Net loss per common share - basic and diluted	$ (0.20)	$ (0.05)	$ (0.47)	$ (0.14)

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
OPERATING ACTIVITIES
Net loss	$ (7,463,296)	$ (1,789,652)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	281,600	2,006
Loss on disposal of property and equipment	24,486
Stock-based compensation	381,316	121,482
Changes in operating assets and liabilities:
Accounts receivable	(535)	83
Inventory	(1,713,022)	(173,674)
Other current assets	(1,216,829)	(99,191)
Accounts payable	(592,607)	117,542
Accrued liabilities	396,683	39,093
Customer deposits	(4,743)	65,732
Net cash used in operating activities	(9,906,947)	(1,716,579)
INVESTING ACTIVITIES
Purchases of certificates of deposit	(5,250,000)
Redemption of certificates of deposit	10,750,000
Other long-term assets	(38,844)
Proceeds from sale of property and equipment	250
Purchases of property and equipment	(878,109)
Net cash provided by investing activities	4,583,297
FINANCING ACTIVITIES
Proceeds from sale of stock		20,314,421
Proceeds from the exercise of stock options	29,259
Payment of offering costs		(1,289,021)
Proceeds of convertible notes payable to related parties		170,000
Proceeds from convertible notes payable		100,000
Proceeds from note payable to related party		5,000
Repayment of note payable		(325,000)
Payment of capital lease obligations	(157,815)
Repayment of convertible notes payable to related parties		(70,000)
Net cash provided by (used in) financing activities	(128,556)	18,905,400
Net cash increase (decrease) for period	(5,452,206)	17,188,821
Cash at beginning of period	7,824,109	414,405
Cash at end of period	2,371,903	17,603,226
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid during the period for interest	36,984	10,531
Cash paid during the period for income taxes	150	150
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Portion of equipment acquired through capital leases	2,093,067
Insurance finance agreement	129,564
Equipment purchases in accounts payable	27,400
Notes payable to related parties and accrued interest converted to common stock		156,166
Notes payable and accrued interest converted to common stock		$ 316,701

Nature of Operations

Nature of Operations	9 Months Ended
	Sep. 30, 2018
Nature of Operations [Abstract]
NATURE OF OPERATIONS	NOTE 1: NATURE OF OPERATIONS Arcimoto, Inc. (the “Company”) was originally formed on November 21, 2007 as WTP Incorporated, an Oregon Corporation, and later changed its name to Arcimoto, Inc. The Company was founded in order to build products that catalyze the shift to a sustainable transportation system. The first step in this shift has been developing an affordable, daily utility, pure electric vehicle. Over the past eleven years, the Company has developed a revolutionary new vehicle platform designed around the needs of everyday drivers. Its main product is the Fun Utility Vehicle® (“FUV”), the first real, affordable, and fossil-free alternative for the vast majority of daily trips. Compared to the average car, the FUV has dropped 3/4 of the weight and 2/3 of the footprint, in order to bring the joy of ultra-efficient, pure electric driving to the masses. Risks and Uncertainties The Company currently has limited production and distribution capabilities and is still in the process of setting up facilities to manufacture vehicles on a larger scale. We also do not have a history of higher-scale production and may encounter delays, flaws, or inefficiencies in the manufacturing process, which may prevent or delay us from achieving higher-scale production within our anticipated timeline. We believe that small scale Retail Series production will commence by early 2019; however, delays in finalizing the FUV design, availability of inventory, and machinery tooling customization could delay such estimates. At the end of October 2018, Arcimoto opened its first vehicle rental test location in Eugene, Oregon. We used this location primarily as a test bed for developing the rental operations. Part of our strategy is to use vehicle rentals to generate a positive cash flow from customer test drive activities. We have faced certain obstacles to the rental strategy including from the insurance industry’s reluctance to issue rental liability insurance to a manufacturer operating a rental business for their own vehicles, auto insurance companies being unwilling to extend their customer’s auto coverage to the rental of three wheeled vehicles or to motorcycles, and the reluctance of insurers to offer SLI (supplemental liability insurance) for operators of motorcycle rental facilities to sell to their customers. We have acquired rental liability insurance and are pursuing SLI for us to offer to our rental customers. As with any strategy, there is the risk that the rental business will not be successful. We learned a great deal from this short-term test that we believe will help us refine our rental operations in preparation for a planned reopening of the Oregon rental facility and potential launch of the San Diego rental operation after Retail FUV production has commenced. As of September 30, 2018, we have $1.9 million in inventory and another $1.4 million in prepaid inventory not received yet. Our motors and motor controllers are long lead time parts requiring payment in advance. The Company has limited experience in developing, training and managing a sales force, and will incur substantial additional expenses marketing its current and future products and services. Developing a full marketing and sales force is also time consuming and could delay launch of our future products and services. In addition, the Company will compete with companies that currently have extensive and well-funded marketing and sales operations. Our marketing and sales efforts may be unable to compete successfully against these companies. Further, the Company’s business and operations are sensitive to general governmental policy, business and economic conditions in the United States and worldwide. A host of factors beyond the Company’s control could cause fluctuations in these conditions. Other developments, including but not limited to economic recessions, trends in vehicle manufacturing, consumer taste, availability of inventory, and changes in government policy related to cars and motorcycles, could have a material adverse effect on the Company’s financial condition and the results of its operations. The Company’s industry is characterized by rapid changes in technology and customer demands. As a result, the Company’s products and services may quickly become obsolete and unmarketable. The Company’s future success will depend on its ability to adapt to technological advances, anticipate customer demands, develop new products and services and enhance our current products and services on a timely and cost-effective basis. Further, the Company’s products and services must remain competitive with those of other companies with substantially greater resources. The Company may experience technical or other difficulties that could delay or prevent the development, introduction or marketing of new products and services or enhanced versions of existing products and services. Also, the Company may not be able to adapt new or enhanced products and services to emerging industry standards, and the Company’s new products and services may not be favorably received. In addition, we may not have the capital resources to further the development of existing and/or new products.

Going Concern

Going Concern	9 Months Ended
	Sep. 30, 2018
Going Concern [Abstract]
GOING CONCERN	NOTE 2: GOING CONCERN The accompanying financial statements have been prepared on a basis that the Company is a going concern, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. The Company has experienced recurring operating losses and negative operating cash flows since inception. The Company generated revenues for the first time in December 2017,and has had limited sales in 2018. The Company has not achieved positive earnings and operating cash flows to enable the Company to finance its operations internally. Funding for the business to date has come primarily through the issuance of equity securities. We will require additional funding by the end of November 2018 to continue to operate in the normal course of business. Accordingly, there is substantial doubt about the Company’s ability to continue as a going concern. Although the Company’s objective is to increase its revenues from the sales of its products within the next few years sufficient to generate positive operating and cash flow levels, there can be no assurance that the Company will be successful in this regard. The Company will need to raise additional capital to fund its operations, which it intends to obtain through debt and/or equity offerings. Funds on hand and any follow-on capital, will be used to invest in our business to expand sales and marketing efforts, enhance our current product by continuing research and development to bring the FUV to retail production, continue to build custom tooling and optimize our production facility, and fund operations until positive cash flow is achieved. The need for additional capital may be adversely impacted by uncertain market conditions or approval by regulatory bodies.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2018
Summary of Significant Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 3: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Unaudited Interim Financial Information The accompanying unaudited financial statements have been prepared by the Company in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information, and pursuant to the instructions to Form 10-Q promulgated by the United States Securities and Exchange Commission (the “SEC”). Accordingly, they do not include all information and disclosures required by GAAP for complete financial statement presentation. In the opinion of management, the accompanying condensed financial statements contain all adjustments (consisting of only normal recurring adjustments) necessary to present fairly the Company’s financial position as of September 30, 2018, and the results of its operations and its cash flows for the three and nine months ended September 30, 2018 and 2017. Results for the three and nine months ended September 30, 2018 are not necessarily indicative of the results to be expected for the year ending December 31, 2018. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with the audited financial statements and notes thereto for the year ended December 31, 2017 included in the Company’s Annual Report on Form 10-K filed with the SEC on March 30, 2018. Basis of Presentation The accounting and reporting policies of the Company conform with GAAP. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Fair Value Measurements The Company’s financial instruments consist primarily of cash, certificates of deposits, and capital lease obligations. The carrying amounts of such financial instruments approximate their respective estimated fair value due to the short-term maturities and approximate market interest rates of these instruments. The estimated fair value is not necessarily indicative of the amounts the Company would realize in a current market exchange or from future earnings or cash flows. The Company adopted Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 820-10, Fair Value Measurements and Disclosures The standard also prioritizes, within the measurement of fair value, the use of market-based information over entity specific information and establishes a three-level hierarchy for fair value measurements based on the nature of inputs used in the valuation of an asset or liability as of the measurement date. The three-level hierarchy for fair value measurements is defined 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. The carrying amounts reported in the accompanying financial statements for current assets and current liabilities approximate the fair value because of the immediate or short-term maturities of the financial instruments. As of September 30, 2018 and December 31, 2017, the Company did not have any level 2 or level 3 instruments. Cash and Cash Equivalents The Company considers deposits that can be redeemed on demand and investments that have original maturities of less than three months, when purchased, to be cash equivalents. As of September 30, 2018 and December 31, 2017, the Company held its balance of cash and cash equivalents in two financial institutions, which, at times, exceed the federally insured limits. Certificates of Deposit The Company uses certificates of deposit for short-term investments. No more than $250,000 is invested in any single certificate of deposit so that all balances are covered by federally insured limits. As of September 30, 2018 and December 31, 2017, approximately $750,000 and $6,247,000, respectively, of the Company’s certificates of deposit had original maturities greater than three months and therefore were not included in cash and cash equivalents. Inventory Inventory is stated at the lower of cost (using the first-in, first-out method “FIFO”) or market. Inventories consist of purchased electric motors, electrical storage and transmission equipment, and component parts. Inventories consisted almost entirely of raw materials and component parts as of December 31, 2017. Work-in-progress as of September 30, 2018 was approximately $22,000, with no significant amounts as of December 31, 2017. There were $505,773 in Finished Goods at September 30, 2018, with no significant amounts as of December 31, 2017. Property and Equipment Property and equipment are recorded at cost, less accumulated depreciation. Expenditures for major additions and improvements are capitalized and minor replacements, maintenance, and repairs are charged to expense as incurred. When property and equipment are retired or otherwise disposed of, the cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is included in the results of operations for the respective period. Depreciation is provided over the estimated useful lives of the related assets using the straight-line method for financial statement purposes. The estimated useful lives for significant property and equipment categories are as follows: Computer Equipment and Software 1 – 3 years Furniture and Fixtures 2 – 7 years Machinery and Equipment 5 – 10 years Leasehold Improvements Shorter of useful or lease life Customer Deposits Refundable customer deposits are generally held in a separate deposit account. Revenue is not recognized on refundable customer deposits until the deposit is applied to a non-refundable vehicle order, the vehicle manufacturing process is completed, the vehicle is ready for pickup by or delivery to the customer. Revenue Recognition The Company recognizes revenue when the earnings process is complete. This generally occurs when products are ready for pickup by or delivery to the customer in accordance with the sales agreement or purchase order, which is when control of the vehicle passes to the customer. The Company’s shipping terms are generally F.O.B. shipping point, where title is transferred, and revenue is recognized when the products are shipped to or picked up by customers. The Company determined that the adoption of Accounting Standards Update No. 2014-09 (ASU 2014-09), “Revenue from Contracts with Customers ” Stock-Based Compensation The Company accounts for stock-based compensation in accordance with FASB ASC 718, Compensation - Stock Compensation The Company measures compensation expense for its non-employee stock-based compensation under FASB ASC 505-50, Equity-Based Payments to Non-Employees Research and Development Expenses relating to research and development are expensed as incurred. Vehicle and battery research and development expenses consisted of approximately $779,000 and $2,191,000, for the three and nine month periods ended September 30, 2018, respectively, and $288,000 and $820,000, for the three and nine month periods ended September 30, 2017, respectively. Net Earnings or Loss per Share The Company’s computation of earnings (loss) per share (“EPS”) includes basic and diluted EPS. Basic EPS is measured as the income (loss) available to common shareholders divided by the weighted average number of common shares outstanding for the period. Diluted EPS is similar to basic EPS but presents the dilutive effect on a per share basis of potential common shares (e.g., common stock warrants and common stock options) as if they had been converted at the beginning of the periods presented, or issuance date, if later. Potential common shares that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS. Loss per common share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the respective periods. Basic and diluted loss per common share is the same for all periods presented because all common stock warrants and common stock options outstanding were anti-dilutive. At September 30, 2018 and 2017, the Company excluded the outstanding securities summarized below, which entitled the holders thereof to ultimately acquire shares of common stock, from its calculation of earnings per share, as their effect would have been anti-dilutive. September 30, September 30, Warrants to purchase common stock 893,004 973,004 Stock options to purchase common stock 1,497,472 742,700 Underwriters warrants 122,238 - Warrants issued to vendors outside of employee plans 47,000 - Total 2,559,714 1,715,704 Recent Accounting Pronouncements In August 2018, the FASB issued Accounting Standards Update (“ASU”) 2018-13, “Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement”. ASU 2018-13 removes certain disclosures, modifies others and introduces additional disclosure requirements for entities. The amendments in ASU 2018-13 for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. We do not believe the adoption of ASU 2018-13 will have a material effect on our financial statements and their disclosures. In June 2018, the FASB issued ASU 2018-07, Compensation - Stock Compensation (Topic 718): “Improvements to Nonemployee Share-Based Payment Accounting”. ASU 2018-07 is intended to reduce cost and complexity and to improve financial reporting for share-based payments issued to nonemployees. This ASU expands the scope of Accounting Standards Codification Topic 718, “Compensation - Stock Compensation”, which currently only includes share-based payments issued to employees, to also include share-based payments issued to nonemployees for goods and services. Consequently, the accounting for share-based payments to nonemployees and employees will be substantially aligned. ASU 2018-07 supersedes ASC Subtopic 505-50, Equity - Equity-Based Payments to Non-Employees. The amendments in this ASU are effective for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year. We are currently assessing the impact of this ASU on our financial statements. In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842)”, which significantly changes the accounting for operating leases by lessees. The accounting applied by lessors is largely unchanged from that applied under previous guidance. The new guidance requires lessees to recognize lease assets and lease liabilities in the balance sheet, initially measured at the present value of the lease payments, for leases which were classified as operating leases under previous guidance. Lease cost included in the statement of income will be calculated so that the cost of the lease is allocated over the lease term, generally on a straight-line basis. Lessees may make an accounting policy election to exclude leases with a term of 12 months or less from the requirement to record related assets and liabilities. The new standard is effective for public companies for fiscal years beginning after December 15, 2018. The Company plans to adopt the new standard effective for periods after December 31, 2018. The Company does not expect the adoption of this standard to have a material impact on its results of operations or cash flows; however, the Company has not determined the impact the adoption of this new standard will have on its financial position. Management does not believe that any other recently issued, but not yet effective, authoritative guidance, if currently adopted, would have a material impact on the Company’s financial statement presentation or disclosures. Concentrations During the nine months ended September 30, 2018, the Company purchased certain products from one vendor, which accounted for approximately 45% of total purchases. Management believes the loss of this vendor could have an adverse impact on the Company’s operations.

Property and Equipment

Property and Equipment	9 Months Ended
	Sep. 30, 2018
Property and Equipment [Abstract]
PROPERTY AND EQUIPMENT	NOTE 4: PROPERTY AND EQUIPMENT As of September 30, 2018 and December 31, 2017, our property and equipment consisted of the following: September 30, December 31, Computer equipment and software $ 42,361 $ 60,696 Furniture and fixtures 46,839 50,996 Machinery and equipment 4,107,580 1,658,976 FUV rental fleet 225,373 - Leasehold improvements 349,008 297,025 Machinery and equipment in process 659,746 462,531 5,430,907 2,530,224 Less: accumulated depreciation (302,644 ) (96,198 ) Total $ 5,128,263 $ 2,434,026 Machinery and equipment in process is comprised primarily of leasehold improvements, tooling and equipment related to the manufacturing of our vehicles. The total purchase commitments for machinery and equipment in process as of September 30, 2018 and December 31, 2017, is approximately $660,000 and $574,000, respectively, which include the amounts recorded above and remaining commitments of approximately $0 and $111,000, respectively. Completed assets are transferred to their respective asset class and depreciation begins when the asset is ready for its intended use. Depreciation expense was approximately $121,000 and $281,000 during the three and nine months ended September 30, 2018, respectively, and was approximately $1,000 and $2,000 during the three and nine months ended September 30, 2017, respectively.

Capital Lease Obligations

Capital Lease Obligations	9 Months Ended
	Sep. 30, 2018
Capital Lease Obligations [Abstract]
CAPITAL LEASE OBLIGATIONS	NOTE 5: CAPITAL LEASE OBLIGATIONS As of September 30, 2018, the Company has financed a total of approximately $2,093,000 of its capital equipment purchases with monthly payments ranging from $437 to $8,582, repayment terms ranging from 48 to 60 months, and effective interest rates ranging from 4.52% to 9.86%. Total monthly capital lease payments as of September 30, 2018 are $42,669. These lease obligations mature ranging from December 2021 through August 2023 and are secured by approximately $2,501,000 in underlying assets which have $51,601 in accumulated depreciation as of September 30, 2018. The balance of capital lease obligations were approximately $1,940,000 and $0 as of September 30, 2018 and December 31, 2017, respectively.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2018
Stockholders' Equity [Abstract]
STOCKHOLDERS' EQUITY	NOTE 6: STOCKHOLDERS’ EQUITY Preferred Stock The Company is authorized to issue 5,000,000 shares of preferred stock, no par value, of which 1,500,000 shares were designated as Series A-1 Preferred Stock. As of September 30, 2018 and December 31, 2017, there were no shares of Series A-1 Preferred Stock issued and outstanding. Common Stock The Company is authorized to issue 20,000,000 shares of common stock, no par value. The Company has reserved a total of 2,877,800 shares of its common stock pursuant to the equity incentive plans (see Note 7). The Company has 2,390,476 and 1,957,204 stock options and warrants outstanding under these plans as of September 30, 2018 and December 31, 2017, respectively. During the nine-month period ended September 30, 2018, the Company issued 55,000 restricted common shares for investor relation services, with a fair value of $195,450 based on the closing price of the Company’s stock on the date of grant. This fair value was expensed upon issuance for services rendered. Issuances for the exercise of warrants and options are disclosed in Note 7.

Stock-Based Payments

Stock-Based Payments	9 Months Ended
	Sep. 30, 2018
Stock-Based Payments [Abstract]
STOCK-BASED PAYMENTS	NOTE 7: STOCK-BASED PAYMENTS The Company grants stock options and warrants pursuant to the 2018 Omnibus Stock Incentive Plan (“2018 Plan”), Amended and Restated 2015 Stock Incentive Plan (“2015 Plan”) and the Second Amended and Restated 2012 Employee Stock Benefit Plan (“2012 Plan”). Stock-based compensation, including stock-options, warrants and stock issued for compensation is included in the statement of operations as follows: Three months ended Nine months ended 2018 2017 2018 2017 Research and development $ 28,418 $ - $ 85,429 $ - Sales and marketing 11,588 - 83,961 - General and administrative 175,913 36,294 211,926 121,482 Total $ 215,919 $ 36,294 $ 381,316 $ 121,482 2018 Omnibus Stock Incentive Plan The 2018 Plan was approved by the Board of Directors and then the Company’s shareholders at the Company’s 2018 annual meeting of shareholders held on June 9, 2018. The 2018 Plan provides the Company the ability to grant to employees, directors, consultants or advisors shares of common stock of the Company through the grant of equity awards, including, but not limited to, options that are incentive stock options or non-qualified stock options (“NQSOs”) and restricted stock, provided that only employees are entitled to receive incentive stock options in accordance with IRS guidelines. The Company reserved 1,000,000 shares of common stock under the 2018 Plan. Awards that are forfeited generally become available for grant under the 2018 Plan. On September 1, 2018, 617,000 options were issued under the 2018 Plan, 20,000 of those grants were forfeited, leaving 597,000 grants outstanding none of which have vested under the 2018 Plan as of September 30, 2018. See below for the range of variables used in assessing the fair value at the grant date for the options issued during the nine months ended September 30, 2018: September 30, 2018 Annual dividend yield - Expected life (years) 6.0-10.0 Risk-free interest rate 2.78-2.86 % Expected volatility 36.2 % Employee stock-based compensation expense included in operating expenses for the three and nine months ended September 30, 2018 was $27,377. For options issued to a non-employee contractor for the three and nine months ended September 30, 2018, vesting was completed on the date of issue. The fair value of these non-employee awards was $1,112 for the three and nine months ended September 30, 2018. Total compensation cost related to non-vested awards issued on September 1, 2018 under the 2018 Plan not yet recognized as of September 30, 2018 was $1,000,177 and will be recognized on a straight-line basis through the end of the vesting periods which is September 30, 2021. The amount of future stock option compensation expense could be affected by any future option grants or by any forfeitures. 2015 Stock Incentive Plan The 2015 Plan provides the Company the ability to grant to employees, directors, consultants or advisors shares of common stock of the Company through the grant of options that are incentive stock options or NQSOs and/or the grant of restricted stock, provided that only employees are entitled to receive incentive stock options in accordance with IRS guidelines. The Company reserved 1,000,000 shares of common stock for delivery under the 2015 Plan. Awards that are forfeited generally become available for grant under the 2015 Plan. There were no grants made under the 2015 Plan during the nine months ended September 30, 2018. See below for the range of variables used in assessing the fair value at the grant date for the options issued during the nine months ended September 30, 2017: September 30, 2017 Annual dividend yield - Expected life (years) 6.0-10.0 Risk-free interest rate 2.14-2.46 % Expected volatility 21.3 % Employee stock-based compensation expense included in operating expenses for the nine months ended September 30, 2018 and 2017 was $150,410 and $94,487, respectively. Employee stock-based compensation expense included in operating expenses for the three months ended September 30, 2018 and 2017 was $49,180 and $36,294, respectively. For the NQSOs issued for the nine months ended September 30, 2017, vesting was completed on the date of issue. The fair value of these non-employee awards was $22,445 for the nine months ended September 30, 2017. Total compensation cost related to non-vested awards not yet recognized as of September 30, 2018 was $252,799 and will be recognized on a straight-line basis through the end of the vesting periods or December 31, 2020. The amount of future stock option compensation expense could be affected by any future option grants or by any forfeitures. On January 31, 2018, 14,200 employee options were exercised at a price per share of $2.0605 for total proceeds to the Company of $29,259. On September 24, 2018, 13,000 employee options with an exercise price of $2.50 per share were exercised in a cashless transaction at a market price of $4.202 per share, which was based on the average of the Company’s daily closing prices from September 17-21, 2018, amounting to 5,265 common shares issued. As of September 30, 2018, 72,328 options are still issuable under the 2015 Plan. 2012 Employee Stock Benefit Plan The 2012 Plan provides the Company the ability to grant to directors, employees, consultants, advisors or independent contractors shares of common stock of the Company through the grant of warrants and/or the grant of common stock. The Company reserved 1,000,000 shares of common stock for delivery under the 2012 Plan. Warrants issued and outstanding under the 2012 Plan as of September 30, 2018 and 2017 were 893,004 and 973,004, respectively. Warrants expire 10 to 15 years from the grant date and were vested when issued. On January 29, 2018, 15,000 employee warrants with an exercise price of $0.50 per share were exercised in a cashless transaction at a market price of $3.77756 per share, which was based on the average of the Company’s daily closing prices from January 19-25, 2018, amounting to 13,014 shares. On July 10, 2018, 15,000 employee warrants with an exercise price of $0.50 per share were exercised in a cashless transaction at a market price of $4.403 per share, which was based on the average of the Company’s daily closing prices from July 2-7, 2018, amounting to 13,296 shares. On July 17, 2018, 30,000 employee warrants with an exercise price of $0.50 per share were exercised in a cashless transaction at a market price of $4.102 per share, which was based on the average of the Company’s daily closing prices from July 10-16, 2018, amounting to 26,343 shares. On September 24, 2018, 20,000 employee warrants with an exercise price of $0.50 per share were exercised in a cashless transaction at a market price of $4.202 per share, which was based on the average of the Company’s daily closing prices from September 17-21, 2018, amounting to 17,620 shares. As of September 30, 2018, 11,996 warrants are still issuable under the 2012 Plan. The Company recorded $6,966 in stock compensation expense on warrants that vested during the nine months ended September 30, 2018 issued outside the 2012 Plan in the prior year.

Customer Deposits

Customer Deposits	9 Months Ended
	Sep. 30, 2018
Customer Deposits [Abstract]
CUSTOMER DEPOSITS	NOTE 8: CUSTOMER DEPOSITS The Company has received customer deposits ranging from $100 to $10,100 per vehicle for Retail Series production vehicles and $42,000 per vehicle for Signature Series vehicles for purposes of securing a vehicle production slot. As of September 30, 2018 and December 31, 2017, the Company’s balance of deposits received was approximately $395,000 and $400,000, respectively. As of September 30, 2018 and December 31, 2017, $311,000 and $231,967, respectively, of these deposits were refundable upon demand. Deposits are included in current liabilities in the accompanying balance sheets. When a customer’s order is ready to enter the production process, the customer is notified that if they would like to proceed with the purchase of a vehicle, their deposit will no longer be refundable and any additional deposit required must be paid prior to the start of the manufacturing process. Customer deposits from related parties total $1,400 and $1,700 as of September 30, 2018 and December 31, 2017, respectively.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2018
Commitments and Contingencies [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 9: COMMITMENTS AND CONTINGENCIES Litigation On March 11, 2018, the Company was served with a lawsuit entitled John R Switzer vs W.R. Hambrecht & Co. LLC et al. Jay Mendelson v. Arcimoto, Inc Mendelson Switzer

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2018
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 10: SUBSEQUENT EVENTS On October 3, 2018, the Company filed a Registration Statement on Form S-3 to register up to $150 million of equity securities, debt securities, warrants and/or rights thereto. Pursuant to General Instruction I.B.6 of Form S-3, in no event will we sell securities pursuant to a Registration Statement on Form S-3 with a value of more than one-third of the aggregate market value of our common stock held by non-affiliates in any 12 month period, so long as the aggregate market value of our common stock held by non-affiliates is less than $75.0 million. We have not offered any securities pursuant to General Instruction I.B.6 of Form S-3 during the 12 calendar months prior to and including the date of this Quarterly Report on Form 10-Q. On October 15, 2018, we re-negotiated a lease previously entered into in June 2018, for an approximately 5,291 square foot commercial industrial office space in Eugene, Oregon. The term of the lease is 60 months which began on October 15, 2018. Rent is $4,500 per month and subject to a 3% increase per year. The space is being used for manufacturing, office and general use. On October 18, 2018, the Company entered into a lease for an approximately 4,491 square foot space in San Diego, California. The term of the lease is 60 months which began on November 1, 2018. Base rent is $8,982 per month plus a 5% management fee. A portion of the space is being used for Arcimoto’s California dealer showroom. On October 18, 2018, the Company sublet 65% of the premises to Hula Holdings, Inc. (“Hula”) which it expects to use as a rental center for FUVs, among other general retail, dispatching, parking and charging services for electric vehicles. Hula has agreed to pay the landlord 65% of the annual base rent and associated costs under the lease. On October 16, 2018, 10,000 employee options with an exercise price of $2.0605 per share were exercised in a cashless transaction at a market price of $3.763 per share, which was based on the average of the Company’s daily closing prices from October 9-15, 2018, amounting to 4,524 common shares issued. On October 19, 2018, 6,500 and 10,000 employee options with an exercise price of $2.0605 and $2.50 per share, respectively, were exercised in a cashless transaction at a market price of $3.6575 per share, which was based on the average of the Company’s daily closing prices from October 12-18, 2018, amounting to 6,178 common shares issued. On October 30, 2018, the Company entered into a 60-month equipment lease with a principal balance of $53,176 interest rate of 9.98% and payments of $1,059 per month. On November 15, 2018, an amendment to the Company’s Second Amended and Restated Articles of Incorporation were effective with the Oregon Secretary of State, creating a newly designated Class C of preferred shares. On November 15, 2018, the Company also entered into a Share Exchange Agreement with Mark Frohnmayer, our President, Chief Executive Officer and Chairman of the Board of Directors, pursuant to which Mr. Frohnmayer exchanged 2,000,000 of his shares of common stock for 2,000,000 shares of the newly created Class C preferred stock. The Class C preferred stock will automatically convert into 2,000,000 shares of common stock upon the filing of an additional amendment to our Second Amended and Restated Articles of Incorporation that increases our authorized shares of our Common Stock.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2018
Summary of Significant Accounting Policies [Abstract]
Unaudited Interim Financial Information	Unaudited Interim Financial Information The accompanying unaudited financial statements have been prepared by the Company in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information, and pursuant to the instructions to Form 10-Q promulgated by the United States Securities and Exchange Commission (the “SEC”). Accordingly, they do not include all information and disclosures required by GAAP for complete financial statement presentation. In the opinion of management, the accompanying condensed financial statements contain all adjustments (consisting of only normal recurring adjustments) necessary to present fairly the Company’s financial position as of September 30, 2018, and the results of its operations and its cash flows for the three and nine months ended September 30, 2018 and 2017. Results for the three and nine months ended September 30, 2018 are not necessarily indicative of the results to be expected for the year ending December 31, 2018. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with the audited financial statements and notes thereto for the year ended December 31, 2017 included in the Company’s Annual Report on Form 10-K filed with the SEC on March 30, 2018.
Basis of Presentation	Basis of Presentation The accounting and reporting policies of the Company conform with GAAP.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Fair Value Measurements	Fair Value Measurements The Company’s financial instruments consist primarily of cash, certificates of deposits, and capital lease obligations. The carrying amounts of such financial instruments approximate their respective estimated fair value due to the short-term maturities and approximate market interest rates of these instruments. The estimated fair value is not necessarily indicative of the amounts the Company would realize in a current market exchange or from future earnings or cash flows. The Company adopted Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 820-10, Fair Value Measurements and Disclosures The standard also prioritizes, within the measurement of fair value, the use of market-based information over entity specific information and establishes a three-level hierarchy for fair value measurements based on the nature of inputs used in the valuation of an asset or liability as of the measurement date. The three-level hierarchy for fair value measurements is defined 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. The carrying amounts reported in the accompanying financial statements for current assets and current liabilities approximate the fair value because of the immediate or short-term maturities of the financial instruments. As of September 30, 2018 and December 31, 2017, the Company did not have any level 2 or level 3 instruments.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers deposits that can be redeemed on demand and investments that have original maturities of less than three months, when purchased, to be cash equivalents. As of September 30, 2018 and December 31, 2017, the Company held its balance of cash and cash equivalents in two financial institutions, which, at times, exceed the federally insured limits.
Certificates of Deposit	Certificates of Deposit The Company uses certificates of deposit for short-term investments. No more than $250,000 is invested in any single certificate of deposit so that all balances are covered by federally insured limits. As of September 30, 2018 and December 31, 2017, approximately $750,000 and $6,247,000, respectively, of the Company’s certificates of deposit had original maturities greater than three months and therefore were not included in cash and cash equivalents.
Inventory	Inventory Inventory is stated at the lower of cost (using the first-in, first-out method “FIFO”) or market. Inventories consist of purchased electric motors, electrical storage and transmission equipment, and component parts. Inventories consisted almost entirely of raw materials and component parts as of December 31, 2017. Work-in-progress as of September 30, 2018 was approximately $22,000, with no significant amounts as of December 31, 2017. There were $505,773 in Finished Goods at September 30, 2018, with no significant amounts as of December 31, 2017.
Property and Equipment	Property and Equipment Property and equipment are recorded at cost, less accumulated depreciation. Expenditures for major additions and improvements are capitalized and minor replacements, maintenance, and repairs are charged to expense as incurred. When property and equipment are retired or otherwise disposed of, the cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is included in the results of operations for the respective period. Depreciation is provided over the estimated useful lives of the related assets using the straight-line method for financial statement purposes. The estimated useful lives for significant property and equipment categories are as follows: Computer Equipment and Software 1 – 3 years Furniture and Fixtures 2 – 7 years Machinery and Equipment 5 – 10 years Leasehold Improvements Shorter of useful or lease life
Customer Deposits	Customer Deposits Refundable customer deposits are generally held in a separate deposit account. Revenue is not recognized on refundable customer deposits until the deposit is applied to a non-refundable vehicle order, the vehicle manufacturing process is completed, the vehicle is ready for pickup by or delivery to the customer.
Revenue Recognition	Revenue Recognition The Company recognizes revenue when the earnings process is complete. This generally occurs when products are ready for pickup by or delivery to the customer in accordance with the sales agreement or purchase order, which is when control of the vehicle passes to the customer. The Company’s shipping terms are generally F.O.B. shipping point, where title is transferred, and revenue is recognized when the products are shipped to or picked up by customers. The Company determined that the adoption of Accounting Standards Update No. 2014-09 (ASU 2014-09), “Revenue from Contracts with Customers ”
Stock-Based Compensation	Stock-Based Compensation The Company accounts for stock-based compensation in accordance with FASB ASC 718, Compensation - Stock Compensation The Company measures compensation expense for its non-employee stock-based compensation under FASB ASC 505-50, Equity-Based Payments to Non-Employees
Research and Development	Research and Development Expenses relating to research and development are expensed as incurred. Vehicle and battery research and development expenses consisted of approximately $779,000 and $2,191,000, for the three and nine month periods ended September 30, 2018, respectively, and $288,000 and $820,000, for the three and nine month periods ended September 30, 2017, respectively.
Net Earnings or Loss per Share	Net Earnings or Loss per Share The Company’s computation of earnings (loss) per share (“EPS”) includes basic and diluted EPS. Basic EPS is measured as the income (loss) available to common shareholders divided by the weighted average number of common shares outstanding for the period. Diluted EPS is similar to basic EPS but presents the dilutive effect on a per share basis of potential common shares (e.g., common stock warrants and common stock options) as if they had been converted at the beginning of the periods presented, or issuance date, if later. Potential common shares that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS. Loss per common share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the respective periods. Basic and diluted loss per common share is the same for all periods presented because all common stock warrants and common stock options outstanding were anti-dilutive. At September 30, 2018 and 2017, the Company excluded the outstanding securities summarized below, which entitled the holders thereof to ultimately acquire shares of common stock, from its calculation of earnings per share, as their effect would have been anti-dilutive. September 30, September 30, Warrants to purchase common stock 893,004 973,004 Stock options to purchase common stock 1,497,472 742,700 Underwriters warrants 122,238 - Warrants issued to vendors outside of employee plans 47,000 - Total 2,559,714 1,715,704
Recent Accounting Pronouncements	Recent Accounting Pronouncements In August 2018, the FASB issued Accounting Standards Update (“ASU”) 2018-13, “Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement”. ASU 2018-13 removes certain disclosures, modifies others and introduces additional disclosure requirements for entities. The amendments in ASU 2018-13 for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. We do not believe the adoption of ASU 2018-13 will have a material effect on our financial statements and their disclosures. In June 2018, the FASB issued ASU 2018-07, Compensation - Stock Compensation (Topic 718): “Improvements to Nonemployee Share-Based Payment Accounting”. ASU 2018-07 is intended to reduce cost and complexity and to improve financial reporting for share-based payments issued to nonemployees. This ASU expands the scope of Accounting Standards Codification Topic 718, “Compensation - Stock Compensation”, which currently only includes share-based payments issued to employees, to also include share-based payments issued to nonemployees for goods and services. Consequently, the accounting for share-based payments to nonemployees and employees will be substantially aligned. ASU 2018-07 supersedes ASC Subtopic 505-50, Equity - Equity-Based Payments to Non-Employees. The amendments in this ASU are effective for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year. We are currently assessing the impact of this ASU on our financial statements. In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842)”, which significantly changes the accounting for operating leases by lessees. The accounting applied by lessors is largely unchanged from that applied under previous guidance. The new guidance requires lessees to recognize lease assets and lease liabilities in the balance sheet, initially measured at the present value of the lease payments, for leases which were classified as operating leases under previous guidance. Lease cost included in the statement of income will be calculated so that the cost of the lease is allocated over the lease term, generally on a straight-line basis. Lessees may make an accounting policy election to exclude leases with a term of 12 months or less from the requirement to record related assets and liabilities. The new standard is effective for public companies for fiscal years beginning after December 15, 2018. The Company plans to adopt the new standard effective for periods after December 31, 2018. The Company does not expect the adoption of this standard to have a material impact on its results of operations or cash flows; however, the Company has not determined the impact the adoption of this new standard will have on its financial position. Management does not believe that any other recently issued, but not yet effective, authoritative guidance, if currently adopted, would have a material impact on the Company’s financial statement presentation or disclosures.
Concentrations	Concentrations During the nine months ended September 30, 2018, the Company purchased certain products from one vendor, which accounted for approximately 45% of total purchases. Management believes the loss of this vendor could have an adverse impact on the Company’s operations.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2018
Summary of Significant Accounting Policies [Abstract]
Schedule of property and equipment estimated useful lives	Computer Equipment and Software 1 – 3 years Furniture and Fixtures 2 – 7 years Machinery and Equipment 5 – 10 years Leasehold Improvements Shorter of useful or lease life
Schedule of outstanding securities excluded from calculation of earnings per share	September 30, September 30, Warrants to purchase common stock 893,004 973,004 Stock options to purchase common stock 1,497,472 742,700 Underwriters warrants 122,238 - Warrants issued to vendors outside of employee plans 47,000 - Total 2,559,714 1,715,704

Property and Equipment (Tables)

Property and Equipment (Tables)	9 Months Ended
	Sep. 30, 2018
Property and Equipment [Abstract]
Schedule of property and equipment	September 30, December 31, Computer equipment and software $ 42,361 $ 60,696 Furniture and fixtures 46,839 50,996 Machinery and equipment 4,107,580 1,658,976 FUV rental fleet 225,373 - Leasehold improvements 349,008 297,025 Machinery and equipment in process 659,746 462,531 5,430,907 2,530,224 Less: accumulated depreciation (302,644 ) (96,198 ) Total $ 5,128,263 $ 2,434,026

Stock-Based Payments (Tables)

Stock-Based Payments (Tables)	9 Months Ended
	Sep. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of stock-based compensation, including stock-options, warrants and stock issued for compensation	Three months ended Nine months ended 2018 2017 2018 2017 Research and development $ 28,418 $ - $ 85,429 $ - Sales and marketing 11,588 - 83,961 - General and administrative 175,913 36,294 211,926 121,482 Total $ 215,919 $ 36,294 $ 381,316 $ 121,482
2018 Omnibus Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of range of variables used in assessing the fair value at the grant date	September 30, 2018 Annual dividend yield - Expected life (years) 6.0-10.0 Risk-free interest rate 2.78-2.86 % Expected volatility 36.2 %
2015 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of range of variables used in assessing the fair value at the grant date	September 30, 2017 Annual dividend yield - Expected life (years) 6.0-10.0 Risk-free interest rate 2.14-2.46 % Expected volatility 21.3 %

Nature of Operations (Details)

Nature of Operations (Details) - USD ($)	Sep. 30, 2018	Dec. 31, 2017
Nature of Operations (Textual)
Inventory	$ 1,907,553	$ 194,525
Prepaid inventory not received	$ 1,400,000

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details)	9 Months Ended
	Sep. 30, 2018
Computer Equipment and Software [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, Useful life	1 year
Computer Equipment and Software [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, Useful life	3 years
Furniture and Fixtures [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, Useful life	2 years
Furniture and Fixtures [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, Useful life	7 years
Machinery and Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, Useful life	5 years
Machinery and Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, Useful life	10 years
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, Estimated useful lives	Shorter of useful or lease life

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Details 1) - shares	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Summary of Significant Accounting Policies [Line Items]
Total	2,559,714	1,715,704
Warrants to purchase common stock [Member]
Summary of Significant Accounting Policies [Line Items]
Total	893,004	973,004
Stock options to purchase common stock [Member]
Summary of Significant Accounting Policies [Line Items]
Total	1,497,472	742,700
Underwriters warrants [Member]
Summary of Significant Accounting Policies [Line Items]
Total	122,238
Warrants issued to vendors outside of employee plans [Member]
Summary of Significant Accounting Policies [Line Items]
Total	47,000

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Details Textual)	3 Months Ended		9 Months Ended
	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)Vendor	Sep. 30, 2017USD ($)	Dec. 31, 2017USD ($)
Summary of Significant Accounting Policies (Textual)
Invested in certificate of deposit	$ 250,000		$ 250,000
Certificates of deposit	749,815		749,815		$ 6,246,850
Work-in-progress	22,000		$ 22,000
Number of vendor | Vendor			1
Total purchases, percentage			45.00%
Finished goods	505,773		$ 505,773
Research and development expenses	$ 779,000	$ 288,000	$ 2,191,000	$ 820,000

Property and Equipment (Details

Property and Equipment (Details) - USD ($)	Sep. 30, 2018	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 5,430,907	$ 2,530,224
Less: accumulated depreciation	(302,644)	(96,198)
Total	5,128,263	2,434,026
Computer equipment and software [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	42,361	60,696
Furniture and fixtures [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	46,839	50,996
Machinery and equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	4,107,580	1,658,976
FUV rental fleet [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	225,373
Leasehold improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	349,008	297,025
Machinery and equipment in process [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 659,746	$ 462,531

Property and Equipment (Detai_2

Property and Equipment (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Property and Equipment (Textual)
Total purchase commitments for machinery and equipment in process	$ 660,000		$ 660,000		$ 574,000
Remaining commitments	0		0		$ 111,000
Depreciation expense	$ 121,000	$ 1,000	$ 281,000	$ 2,000

Capital Lease Obligations (Deta

Capital Lease Obligations (Details) - USD ($)	9 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
Capital Lease Obligations (Textual)
Purchase of capital equipment	$ 2,093,000
Lease obligations maturity, description	These lease obligations mature ranging from December 2021 through August 2023
Capital lease obligations	$ 1,940,000	$ 0
Underlying assets	2,501,000
Accumulated depreciation	51,601
Capital leases payment	42,669
Minimum [Member]
Capital Lease Obligations (Textual)
Purchase of capital equipment	$ 437
Repayment financial term	48 months
Effective interest rates	4.52%
Maximum [Member]
Capital Lease Obligations (Textual)
Purchase of capital equipment	$ 8,582
Repayment financial term	60 months
Effective interest rates	9.86%

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($)	9 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
Stockholders' Equity (Textual)
Preferred stock, shares authorized	1,500,000	1,500,000
Preferred stock, par value
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, shares authorized	20,000,000	20,000,000
Common stock, par value
Issue of restricted common shares	55,000
Restricted common shares fair value	$ 195,450
Common Stock [Member]
Stockholders' Equity (Textual)
Reserved common stock pursuant to the equity incentive plans	2,877,800
Stock options and warrants outstanding	2,390,476	1,957,204
Preferred Stock [Member] | Series A-1 Preferred Stock [Member]
Stockholders' Equity (Textual)
Preferred stock, shares authorized	5,000,000
Preferred stock, shares designated	1,500,000
Preferred stock, shares issued
Preferred stock, shares outstanding

Stock-Based Payments (Details)

Stock-Based Payments (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation	$ 215,919	$ 36,294	$ 381,316	$ 121,482
Research and development [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation	28,418		85,429
Sales and marketing [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation	11,588		83,961
General and administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation	$ 175,913	$ 36,294	$ 211,926	$ 121,482

Stock-Based Payments (Details 1

Stock-Based Payments (Details 1)	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual dividend yield
Expected volatility	36.20%	21.30%
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life (years)	6 years	6 years
Risk-free interest rate	2.78%	2.14%
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life (years)	10 years	10 years
Risk-free interest rate	2.86%	2.46%

Stock-Based Payments (Details T

Stock-Based Payments (Details Textual) - USD ($)	Sep. 01, 2018	Jan. 31, 2018	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Sep. 24, 2018	Jul. 17, 2018	Jul. 10, 2018	Jan. 29, 2018
Stock-Based Payments (Textual)
Stock-based compensation			$ 215,919	$ 36,294	$ 381,316	$ 121,482
Total compensation cost related to non-vested awards			$ 252,799		$ 252,799
NQSO [Member]
Stock-Based Payments (Textual)
Fair value of non-employee awards						22,445
2015 Stock Incentive Plan [Member]
Stock-Based Payments (Textual)
Common stock for delivery under the plan			1,000,000		1,000,000
Stock-based compensation			$ 49,180	$ 36,294	$ 150,410	$ 94,487
Options issuable shares			72,328		72,328
Employee options were exercised		14,200
Total proceeds		$ 29,259
Price per share		$ 2.0605
Number of warrants exercised							13,000
Exercise price per share							$ 2.50
Market price per share							$ 4.202
Total shares issued							5,265
2012 Employee Stock Benefit Plan [Member]
Stock-Based Payments (Textual)
Common stock for delivery under the plan			1,000,000		1,000,000
Warrants issued and outstanding, shares of company common stock			893,004	973,004	893,004	973,004
Warrants issued					11,996
Number of warrants exercised							20,000	30,000	15,000	15,000
Exercise price per share							$ 0.50	$ 0.50	$ 0.50	$ 0.50
Market price per share							$ 4.202	$ 4.102	$ 4.403	$ 3.77756
Total shares issued							17,620	26,343	13,296	13,014
Stock compensation expense on warrants that vested					$ 6,966
2012 Employee Stock Benefit Plan [Member] | Minimum [Member]
Stock-Based Payments (Textual)
Warrants expire term					10 years
2012 Employee Stock Benefit Plan [Member] | Maximum [Member]
Stock-Based Payments (Textual)
Warrants expire term					15 years
2018 Omnibus Stock Incentive Plan [Member]
Stock-Based Payments (Textual)
Common stock for delivery under the plan			1,000,000		1,000,000
Stock-based compensation			$ 27,377		$ 27,377
Fair value of non-employee awards			1,112		1,112
Options issued	617,000
Options forfeited	20,000
Options outstanding	597,000
Compensation cost not yet recognized			$ 1,000,177		$ 1,000,177

Customer Deposits (Details)

Customer Deposits (Details) - USD ($)	Sep. 30, 2018	Dec. 31, 2017
Customer Deposits (Textual)
Deposits received	$ 395,224	$ 399,967
Customer deposits from related parties	1,400	1,700
Refundable deposits amount	311,000	$ 231,967
Retail Series production vehicles [Member] | Minimum [Member]
Customer Deposits (Textual)
Customer deposits per order	100
Retail Series production vehicles [Member] | Maximum [Member]
Customer Deposits (Textual)
Customer deposits per order	10,100
Signature series vehicles [Member]
Customer Deposits (Textual)
Customer deposits per order	$ 42,000

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Events [Member]	Oct. 15, 2018USD ($)ft²	Nov. 15, 2018	Oct. 30, 2018USD ($)	Oct. 19, 2018$ / sharesshares	Oct. 18, 2018USD ($)ft²	Oct. 16, 2018$ / sharesshares	Oct. 03, 2018
Subsequent Events (Textual)
Description of securities							The Company filed a Registration Statement on Form S-3 to register up to $150 million of equity securities, debt securities, warrants and/or rights thereto. Pursuant to General Instruction I.B.6 of Form S-3, in no event will we sell securities pursuant to a Registration Statement on Form S-3 with a value of more than one-third of the aggregate market value of our common stock held by non-affiliates in any 12 month period, so long as the aggregate market value of our common stock held by non-affiliates is less than $75.0 million. We have not offered any securities pursuant to General Instruction I.B.6 of Form S-3 during the 12 calendar months prior to and including the date of this Quarterly Report on Form 10-Q.
Lease space | ft²	5,291				4,491
Rent per month | $	$ 4,500				$ 8,982
Percentage of rent	3.00%				5.00%
Lease term	The term of the lease is 60 months which began on October 15, 2018.				The term of the lease is 60 months which began on November 1, 2018.
Description of premises					The Company sublet 65% of the premises to Hula Holdings, Inc. ("Hula") which it expects to use as a rental center for FUVs, among other general retail, dispatching, parking and charging services for electric vehicles. Hula has agreed to pay the landlord 65% of the annual base rent and associated costs under the lease.
Lease principal balance | $			$ 53,176
Payments for lease | $			$ 1,059
Percentage of lease			9.98%
Share exchange agreement, description		The Company also entered into a Share Exchange Agreement with Mark Frohnmayer, our President, Chief Executive Officer and Chairman of the Board of Directors, pursuant to which Mr. Frohnmayer exchanged 2,000,000 of his shares of common stock for 2,000,000 shares of the newly created Class C preferred stock. The Class C preferred stock will automatically convert into 2,000,000 shares of common stock upon the filing of an additional amendment to our Second Amended and Restated Articles of Incorporation that increases our authorized shares of our Common Stock.
Employee options [Member]
Subsequent Events (Textual)
Employee options were exercised | shares				6,500		10,000
Exercise price per share | $ / shares				$ 2.0605		$ 2.0605
Market price per share | $ / shares				$ 3.6575		$ 3.763
Shares issued | shares				6,178		4,524
Employee options, description				The average of the Company's daily closing prices from October 12-18, 2018, amounting to 6,178 common shares issued.		The average of the Company's daily closing prices from October 9-15, 2018, amounting to 4,524 common shares issued.
Employee options one [Member]
Subsequent Events (Textual)
Employee options were exercised | shares				10,000
Exercise price per share | $ / shares				$ 2.50