Arcimoto (FUVV) 10-Q 12 Feb 24 2023 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2023	Feb. 09, 2024
Document Information Line Items
Entity Registrant Name	ARCIMOTO, INC.
Trading Symbol	FUV
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		9,451,015
Amendment Flag	false
Entity Central Index Key	0001558583
Entity Current Reporting Status	No
Entity Filer Category	Non-accelerated Filer
Document Period End Date	Sep. 30, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-38213
Entity Incorporation, State or Country Code	OR
Entity Tax Identification Number	26-1449404
Entity Address, Address Line One	2034 West 2nd Avenue
Entity Address, City or Town	Eugene
Entity Address, State or Province	OR
Entity Address, Postal Zip Code	97402
City Area Code	(541)
Local Phone Number	683-6293
Title of 12(b) Security	Common stock, no par value
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 232,827	$ 462,753
Accounts receivable, net	346,942	262,643
Inventory	10,886,533	12,324,017
Prepaid inventory	1,479,982	1,439,060
Other current assets	656,027	1,594,218
Total current assets	13,602,311	16,082,691
Property and equipment, net	27,116,231	29,822,794
Intangible assets, net	8,411,989	9,045,290
Operating lease right-of-use assets	821,065	1,336,826
Security deposits	116,297	120,431
Total assets	50,067,893	56,408,032
Current liabilities:
Accounts payable	5,659,122	7,668,359
Accrued liabilities	2,142,921	455,808
Customer deposits	942,102	962,346
Mortgage loan	7,038,511
Short-term convertible note		5,639,231
Warrant liabilities	10,296,963	374,474
Current portion of finance lease obligations	394,157	441,523
Current portion of equipment notes payable	349,932	388,940
Current portion of warranty reserve	633,640	519,889
Current portion of deferred revenue	86,327	207,556
Current portion of operating lease liabilities	505,548	666,542
Current portion of derivative liability	1,195,018
Total current liabilities	29,494,241	17,324,668
Finance lease obligations	960,838	858,488
Equipment notes payable	701,797	962,351
Convertible note issued to related party	4,523,580	4,887,690
Derivative liability	2,239,309
Warranty reserve	320,581	264,748
Operating lease liabilities	366,871	744,142
Total long-term liabilities	9,112,976	7,717,419
Total liabilities	38,607,217	25,042,087
Commitments and contingencies (Note 12)
Stockholders’ equity:
Preferred Stock
Common Stock, no par value, 200,000,000 shares authorized; 8,930,196 and 3,209,838 shares issued and outstanding as of September 30, 2023 and December 31, 2022, respectively	192,009,340	184,682,027
Additional paid-in capital	16,168,385	13,555,718
Accumulated deficit	(201,013,839)	(166,871,800)
Total stockholders’ equity	7,163,886	31,365,945
Total liabilities, mezzanine equity and stockholders’ equity	50,067,893	56,408,032
Series D Convertible Preferred Stock
Mezzanine equity:
Series D 8% Convertible Preferred Stock, no par value, 8,466 authorized; 5,542 and none issued and outstanding as of September 30, 2023 and December 31, 2022, respectively	4,296,790
Series A-1 Preferred Stock
Stockholders’ equity:
Preferred Stock
Class C Preferred Stock
Stockholders’ equity:
Preferred Stock
Related Party
Current liabilities:
Notes payable - related party	250,000
Convertible note issued to related party	$ 4,523,580	$ 4,887,690

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - $ / shares	Sep. 30, 2023	Dec. 31, 2022
Preferred stock, par value (in Dollars per share)
Preferred stock, shares authorized	1,491,534	1,491,534
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, par value (in Dollars per share)
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	8,930,196	3,209,838
Common stock, shares outstanding	8,930,196	3,209,838
Series D Convertible Preferred Stock
Convertible preferred stock percentage	8%	8%
Convertible preferred stock, par value (in Dollars per share)
Convertible preferred stock, shares authorized	8,466	8,466
Convertible preferred stock, shares issued	5,542
Convertible preferred stock, shares outstanding	5,542
Series A-1 Preferred Stock
Preferred stock, par value (in Dollars per share)
Preferred stock, shares authorized	1,500,000	1,500,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Class C Preferred Stock
Preferred stock, par value (in Dollars per share)
Preferred stock, shares authorized	2,000,000	2,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Revenue	$ 1,110,251	$ 2,024,205	$ 4,224,125	$ 4,173,779
Cost of goods sold	2,962,363	6,987,035	9,428,102	17,138,644
Gross loss	(1,852,112)	(4,962,830)	(5,203,977)	(12,964,865)
Operating expenses:
Research and development	1,163,808	6,521,379	3,717,276	14,144,395
Sales and marketing	1,340,067	3,321,862	4,260,985	9,318,647
General and administrative	3,076,497	4,099,354	8,792,451	10,583,968
Loss on sale of asset	193,292	12,408	415,033	12,408
Total operating expenses	5,773,664	13,955,003	17,185,745	34,059,418
Loss from operations	(7,625,776)	(18,917,833)	(22,389,722)	(47,024,283)
Other (income) expense:
Interest expense	715,613	84,945	1,027,399	258,851
Financing costs	16,583,349		21,827,173
Unrealized (gain) loss on convertible notes, mortgage loan, warrants and derivatives fair value	(10,979,457)	(2,122,828)	(14,148,595)	22,712
Other expense, net	97,787	83,749	113,688	12,553
Loss on debt extinguishment			2,925,610
Total other (income) expense, net	6,417,292	(1,954,134)	11,745,275	294,116
Loss before income tax expense	(14,043,068)	(16,963,699)	(34,134,997)	(47,318,399)
Income tax expense			(7,042)	(3,200)
Net loss	$ (14,043,068)	$ (16,963,699)	$ (34,142,039)	$ (47,321,599)
Weighted average common shares - basic (in Shares)	8,954,919	2,247,818	7,741,214	2,042,891
Net loss per common share - basic (in Dollars per share)	$ (1.58)	$ (7.55)	$ (4.43)	$ (23.16)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations (Unaudited) (Parentheticals) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Weighted average common shares - diluted	8,954,919	2,247,818	7,741,214	2,042,891
Net loss per common share - diluted	$ (1.58)	$ (7.55)	$ (4.43)	$ (23.16)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Mezzanine Equity and Stockholders’ Equity (Unaudited) - USD ($)	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Series D 8% Convertible Preferred Stock	Mezzanine Equity	Total
Balance at Dec. 31, 2021	$ 150,502,566	$ 7,038,124	$ (103,992,402)			$ 53,548,288
Balance (in Shares) at Dec. 31, 2021	1,882,180
Issuance of common stock for cash, net of offering costs	$ 26,493,094					26,493,094
Issuance of common stock for cash, net of offering costs (in Shares)	391,985
Common stock to external consultant		68,361				68,361
Common stock to external consultant (in Shares)	800
Equity awards issued to external consultants		375,782				375,782
Exercise of warrants	$ 20,000					20,000
Exercise of warrants (in Shares)	400
Exercise of stock options	$ 125,718	(34,623)				91,095
Exercise of stock options (in Shares)	2,201
Issuance of common stock for RSU, net of tax	$ 46,746	(76,200)				(29,454)
Issuance of common stock for RSU, net of tax (in Shares)	460
Stock-based compensation		4,773,137				4,773,137
Net loss			(47,321,599)			(47,321,599)
Balance at Sep. 30, 2022	$ 177,188,124	12,144,581	(151,314,001)			38,018,704
Balance (in Shares) at Sep. 30, 2022	2,278,026
Balance at Jun. 30, 2022	$ 166,999,962	10,528,288	(134,350,302)			43,177,948
Balance (in Shares) at Jun. 30, 2022	2,088,539
Issuance of common stock for cash, net of offering costs	$ 10,177,356					10,177,356
Issuance of common stock for cash, net of offering costs (in Shares)	188,664
Common stock to external consultant		45,246				45,246
Common stock to external consultant (in Shares)	600
Equity awards issued to external consultants		24,210				24,210
Exercise of warrants
Exercise of stock options	$ 10,806	(3,170)				7,636
Exercise of stock options (in Shares)	223
Stock-based compensation		1,550,007				1,550,007
Net loss			(16,963,699)			(16,963,699)
Balance at Sep. 30, 2022	$ 177,188,124	12,144,581	(151,314,001)			38,018,704
Balance (in Shares) at Sep. 30, 2022	2,278,026
Balance at Dec. 31, 2022	$ 184,682,027	13,555,718	(166,871,800)			31,365,945
Balance (in Shares) at Dec. 31, 2022	3,209,838
Issuance of common stock for cash, net of offering costs	$ 5,984,111					5,984,111
Issuance of common stock for cash, net of offering costs (in Shares)	4,767,647
Exercise of warrants	$ 70					70
Exercise of warrants (in Shares)	700,000
Issuance of series D preferred stock, net of offering costs				$ 4,259,228	$ 4,259,228
Issuance of series D preferred stock, net of offering costs (in Shares)				5,646
Accretion of series D preferred stock to redemption value		(118,194)		$ 118,194	118,194	(118,194)
Issuance of common stock for conversion of Series D preferred stock	$ 80,632			$ (80,632)	(80,632)	80,632
Issuance of common stock for conversion of Series D preferred stock (in Shares)	108,963			(104)
Issuance of common stock for partial payment of convertible note	$ 1,112,500					1,112,500
Issuance of common stock for partial payment of convertible note (in Shares)	123,612
Reduction of offering costs	$ 150,000					150,000
Issuance of common stock for RSU, net of tax
Issuance of common stock for RSU, net of tax (in Shares)	20,136
Stock-based compensation		2,730,861				2,730,861
Net loss			(34,142,039)			(34,142,039)
Balance at Sep. 30, 2023	$ 192,009,340	16,168,385	(201,013,839)	$ 4,296,790	4,296,790	7,163,886
Balance (in Shares) at Sep. 30, 2023	8,930,196			5,542
Balance at Jun. 30, 2023	$ 191,778,708	15,630,758	(186,970,771)			20,438,695
Balance (in Shares) at Jun. 30, 2023	8,805,897
Issuance of series D preferred stock, net of offering costs				$ 4,259,228	4,259,228
Issuance of series D preferred stock, net of offering costs (in Shares)				5,646
Accretion of series D preferred stock to redemption value		(118,194)		$ 118,194	118,194	(118,194)
Issuance of common stock for conversion of Series D preferred stock	$ 80,632			$ (80,632)	(80,632)	$ 80,632
Issuance of common stock for conversion of Series D preferred stock (in Shares)	108,963			(104)		108,963
Reduction of offering costs	$ 150,000					$ 150,000
Issuance of common stock for RSU, net of tax
Issuance of common stock for RSU, net of tax (in Shares)	15,336
Stock-based compensation		655,821				655,821
Net loss			(14,043,068)			(14,043,068)
Balance at Sep. 30, 2023	$ 192,009,340	$ 16,168,385	$ (201,013,839)	$ 4,296,790	$ 4,296,790	$ 7,163,886
Balance (in Shares) at Sep. 30, 2023	8,930,196			5,542

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Mezzanine Equity and Stockholders’ Equity (Unaudited) (Parentheticals) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Net offering costs of common stock		$ 296,892	$ 427,304	$ 894,614
Net offering costs of preferred stock	$ 158,787		$ 158,787

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
OPERATING ACTIVITIES
Net loss	$ (34,142,039)	$ (47,321,599)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization	2,643,299	2,703,561
Non-cash operating lease costs	515,761	439,557
Non-cash financing costs	19,466,630
Non-cash offering costs	620,780
Interest expense paid in common stock	31,839
Debt issuance costs expensed - mortgage loan	600,000
Debt facility fee expensed - mortgage loan	300,000
Debt issuance costs - convertible note		232,669
Warrant and derivatives issuance costs - expensed	839,763
Loss on extinguishment of debt	2,925,610
Unrealized (gain) loss on convertible notes, mortgage loan, warrants and derivatives fair value	(14,148,595)	22,712
Common stock to external consultant		68,361
Equity awards issued to external consultants		375,782
Stock-based compensation	2,730,861	4,773,137
Loss on disposal of asset	415,033	12,408
Changes in operating assets and liabilities
Accounts receivable	(84,299)	(204,259)
Inventory	1,906,097	(4,434,250)
Prepaid inventory	(40,922)	(472,703)
Other current assets	938,191	557,369
Accounts payable	(2,009,237)	673,577
Accrued liabilities	1,687,113	1,755,419
Customer deposits	(20,244)	231,297
Operating lease liabilities	(538,265)	(445,310)
Warranty reserve	169,584	66,531
Deferred revenue	(121,229)	101,992
Net cash used in operating activities	(15,314,269)	(40,863,749)
INVESTING ACTIVITIES
Purchase of property and equipment	(331,566)	(9,371,913)
Refund from return of equipment	611,476
Security deposits	4,134	(2,205)
Net cash provided by (used in) investing activities	284,044	(9,374,118)
FINANCING ACTIVITIES
Proceeds from the sale of common stock and warrants	14,494,896	27,387,708
Proceeds from the sale of series D preferred stock and warrants	4,300,002
Payment of offering costs	(1,133,100)	(870,614)
Proceeds from notes payable - related party	500,000
Payment of notes payable - related party	(250,000)
Proceeds from the exercise of warrants	70	20,000
Proceeds from mortgage loan	6,000,000
Proceeds from convertible note		13,900,000
Debt issuance costs - mortgage loan	(600,000)
Debt facility fee - mortgage loan	(300,000)
Debt issuance costs - convertible note		(232,669)
Proceeds from the exercise of stock options		91,095
Payment on finance lease obligations	(412,007)	(305,296)
Payment of equipment notes	(299,562)	(481,963)
Proceeds from equipment notes		177,256
Payment of convertible note	(7,500,000)	(161,652)
Payment of notes payable		(2,039,367)
Net cash provided by financing activities	14,800,299	37,484,498
Net cash and cash equivalents decrease for period	(229,926)	(12,753,369)
Cash and cash equivalents at beginning of period	462,753	16,971,320
Cash and cash equivalents at end of period	232,827	4,217,951
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid during the period for interest	97,594	186,083
Cash paid during the period for income taxes	7,042	3,200
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES
Issuance of common stock for settlement of accounts payable		68,361
Accounts payable for purchase of property and equipment		649,180
Notes payable and accrued interest converted to common stock	1,112,500
Conversion of Series D 8% Convertible Preferred Stock to common stock	80,632
Accretion of Series D 8% Convertible Preferred Stock to redemption value	118,194
Transfers from FUV Rental Fleet to Inventory	468,613
Equipment acquired through finance leases	$ 466,991	$ 675,928

Nature of Operations

Nature of Operations	9 Months Ended
	Sep. 30, 2023
Nature of Operations [Abstract]
NATURE OF OPERATIONS	NOTE 1: NATURE OF OPERATIONS Arcimoto, Inc. (the “Company”) was incorporated in the State of Oregon on November 21, 2007. The Company’s mission is to catalyze the global shift to a sustainable transportation system. Over the past 16 years, the Company has developed a new vehicle platform designed around the needs of everyday drivers. Having approximately one-third the weight and one-third of the footprint of the average car, the Arcimoto platform’s purpose is to bring the joy of ultra-efficient, pure electric driving to the masses. To date, the Company currently has two vehicle products built on this platform that target specific niches in the vehicle market: its flagship product, the Fun Utility Vehicle® (“FUV®”), for everyday consumer trips, and the Deliverator® for last-mile delivery and general fleet utility. In February 2023, two wholly-owned subsidiaries of the Company were formed, Arcimoto Property Holding Company, LLC and APHC Holdings, LLC. APHC Holdings, LLC is the parent of Arcimoto Property Holding Company, LLC. Arcimoto Property Holding Company, LLC is the borrower in a loan obtained on February 17, 2023 for $6,000,000 that is secured by a guarantee provided by Arcimoto, Inc. and the real estate owned by the Company.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2023
Summary of Significant Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 1-for-20 Reverse Stock Split On November 11, 2022, the Board of Directors approved a reverse stock split of 1-for-20. This action enabled the Company to access additional funds for operational needs by maintaining its listing requirements. The 1-for-20 reverse stock split decreased the number of outstanding shares and increased net loss per common share. All per share and share amounts presented have been retroactively adjusted for the effect of this reverse stock split for all periods presented. Going Concern The accompanying financial statements have been prepared on the 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 incurred significant losses since inception and management expects losses to continue for the foreseeable future. In addition, the Company does not have sufficient cash on hand to pay obligations as they come due. ● On January 14, 2022 the Company entered into an agreement with Canaccord Genuity LLC (“Canaccord”) to raise the at-the-market (“ATM”) offering amount to $100,000,000, and on October 4, 2022, the Company signed an equity line of credit (“ELOC”) agreement with Tumim Stone Capital LLC whereby the investor will provide up to $50,000,000 of financing with certain restrictions. On January 18, 2023, the Company obtained additional funds totaling $12.0 million via a confidentially marketed public equity offering. Due to the terms of this offering, the Company is restricted from variable rate transactions and, thus, unable to utilize the ATM and ELOC to raise additional capital for a period of one year from January 18, 2023, the date the Prospectus Supplement was filed. The terms of this offering also restricted equity transactions for a period of 90 days unless approved by more than 50% of the investors in the offering filed on January 18, 2023. After that 90-day period, the Company became able to offer to sell its securities in a public offering under its S-3 registration. However, this ability to obtain additional financing is dependent on the price and volume of the Company’s common stock and may be further restricted by certain Securities and Exchange Commission (“SEC”) rules that limit the number of shares the Company is able to sell under its Form S-3 registration statement. The Company is currently not able to utilize the ATM and ELOC to raise additional capital due to restrictions from the June 2023 and August 2023 offerings discussed below. ● On February 17, 2023, the Company obtained a loan that is secured by the Company’s land and buildings as disclosed in Note 6 - Mortgage Loan. The principal amount of this loan is $6,000,000 and includes a discount of $600,000. The interest rate on this loan was 20% and the loan was originally due in August 2023 unless an additional six-month extension was granted. The extension could only be granted under certain conditions, which included, in part, payment of all accrued interest and a facility fee of $300,000 and that no event or potential event of a default existed. On July 14, 2023, the Company was granted an additional six-month extension and the loan is now due in February 2024. As a result of the extension, interest is 0% as of August 18, 2023. ● In May 2023, the Company also received a $500,000 loan from a related party, which was subsequently paid down $250,000 in June 2023 using the proceeds from the June 2023 offering discussed below. ● In June 2023, the Company raised approximately $2,300,000, net of fees, from a registered direct offering. ● On August 15, 2023, the Company received $4.2 million, net of fees, from an offering of Series D Convertible Preferred Stock, as disclosed in Note 10 – Stockholders’ Equity. The holders of Series D Preferred Stock are entitled to cumulative dividends at the rate of 8% per annum and payable each quarter. The Company is required to redeem the Series D Preferred Stock in monthly installments and will redeem the full outstanding balance on the second anniversary of the issuance date. Each share of Series D Preferred Stock is convertible at any time at the option of the holder into common stock. Furthermore, the Company’s accounts payable balance is approximately $9,500,000 at February 9, 2024, of which a significant amount is more than 30 days past due. Management has evaluated these conditions and concluded that they raise substantial doubt about the Company’s ability to continue as a going concern for a period of at least one year from the issuance of these unaudited financial statements. Management has initiated a series of actions to alleviate the Company’s financial situation: (1) reducing headcount significantly via lay-offs and an unpaid furlough program that started at the beginning of the fourth quarter of 2022 and that have continued; (2) temporarily suspending production in the first quarter of 2023 in order to relocate operations to a new facility and focus purchases on the minimum needed to resume production, which was resumed in February 2023; (3) negotiating payment plans with the Company’s vendors that are critical to the Company’s operations; and (4) monetizing assets that may not be critical to the core business. Management also plans to pursue other financing solutions through the credit and equity markets. There can be no assurance that the Company will be able to secure such additional financing or, if available, that it will be on favorable terms or that the Company will be able to sufficiently reduce costs for any such additional financing to meet its needs. Therefore, the plans cannot be deemed probable of being implemented. As a result, the Company has concluded that management’s plans do not alleviate substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might result from the outcome of this uncertainty. Basis of Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated 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 unaudited condensed consolidated financial statements contain all adjustments (consisting of only normal recurring adjustments) necessary to present fairly the Company’s financial position as of September 30, 2023, and the results of its operations for the three and nine months ended September 30, 2023 and 2022 and its cash flows for the nine months ended September 30, 2023 and 2022. Results for the three and nine months ended September 30, 2023 are not necessarily indicative of the results to be expected for the year ending December 31, 2023. 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, 2022 included in the Company’s Annual Report on Form 10-K filed with the SEC on April 14, 2023. The preparation of financial statements in conformity with U.S GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and its related disclosures. Actual amounts could differ materially from those estimates. The consolidated financial statements include the accounts of the Company. and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated upon consolidation. Inventory Inventory is stated at the lower of cost (using the first-in, first-out method (“FIFO”)) or net realizable value. Inventories consist mainly of purchased electric motors, electrical storage and transmission equipment, and component parts. Raw materials include parts that have been sub-assembled and manufactured parts. September 30, December 31, Raw materials $ 9,217,444 $ 11,491,555 Work in progress 199,521 — Finished goods 1,469,568 832,462 Total $ 10,886,533 $ 12,324,017 The Company is required to remit partial prepayments for some purchases of its inventories acquired from overseas vendors which are included in prepaid inventory. The Company is currently selling vehicles below the base cost of a finished unit. Accordingly, the Company expensed all labor and overhead as period costs and recorded an allowance to reduce certain inventories to net realizable value of approximately $849,000 and $1,280,000 as of September 30, 2023 and December 31, 2022, respectively. The amount expensed for all labor and overhead was approximately $5,219,000 and $11,362,000 for the nine months ended September 30, 2023 and 2022, respectively, and $1,763,000 and $4,289,000 for the three months ended September 30, 2023 and 2022, respectively. Intangible Assets Intangible assets primarily consist of trade names/trademarks, proprietary technology, and customer relationships. They are amortized using the straight-lined method over a period of 10 to 14 years. The Company assesses the recoverability of its finite-lived intangible assets when there are indications of potential impairment. Net Loss per Share The Company’s computation of loss per share (“EPS”) includes basic and diluted EPS. Basic EPS is measured as the 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. The following table presents the reconciliation of the numerator and denominator for calculating net loss per share: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Numerator: Net loss $ (14,043,068 ) $ (16,963,699 ) $ (34,142,039 ) $ (47,321,599 ) Accretion of Series D 8% Convertible Preferred Stock to redemption value (118,194 ) — (118,194 ) — Net loss attributable to common shareholders (14,161,262 ) (16,963,699 ) (34,260,233 ) (47,321,599 ) Denominator Weighted average common shares outstanding - basic and diluted 8,954,919 2,247,818 7,741,214 2,042,891 Net loss per common share - basic and diluted $ (1.58 ) $ (7.55 ) $ (4.43 ) $ (23.16 ) During the three and nine months ended September 30, 2023 and 2022, the Company excluded the outstanding Employee Equity Plans (“EEP”) and other securities summarized below calculated using the Treasury Stock Method for options and other instruments and the If-Converted Method for convertible notes, 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. Three Months Ended Nine Months Ended 2023 2022 2023 2022 Options and other instruments under the 2012, 2015, 2018, and 2022 Plans to purchase common stock — 23,734 — 45,820 Conversion of convertible notes, if-converted method 59,440 86,809 59,440 42,556 Total 59,440 110,543 59,440 88,376 All options and warrants were excluded from the table above as they are out of the money. Fair Value Measurements ASC 820, Fair Value Measurements and Disclosures, defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy based on the observability of the inputs and distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2) an entity’s own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below: Level 1 – Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 3 – Inputs that are both significant to the fair value measurement and unobservable. Fair value estimates discussed herein were based upon certain market assumptions and pertinent information available to management as of September 30, 2023 and December 31, 2022. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments. The Company measures convertible notes, the mortgage loan, derivative liabilities and warrant liabilities at fair value on a recurring basis. Refer to Note 15, Fair Value Measurements, for details. Convertible Notes, Mortgage Loan, Derivative Liabilities and Warrants We have elected the fair value option under ASC 825-10-25 to account for the convertible notes as well as the mortgage loan, derivative liabilities and warrants. The fair value measurements are classified as Level 2 under the fair value hierarchy as provided by ASC 820, “Fair Value Measurement”. The fair valuation of these convertible notes, mortgage loan, derivative liabilities, and warrants use inputs other than quoted prices that are observable either directly or indirectly. Under this option, changes in fair value are recorded as unrealized gain/loss on convertible notes, mortgage loan and warrants fair value in the Condensed Consolidated Statements of Operations. Refer to Note 6 – Mortgage Loan, Note 9 – Convertible Notes, and Note 10 – Stockholders’ Equity for additional details regarding the fair value and significant assumptions utilized. Accounting Pronouncements Recently Adopted In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”) which replaces the current incurred loss methodology with an expected loss methodology which is referred to as the current expected credit loss (“CECL”) methodology. The measurement of credit losses under the CECL methodology is applicable to financial assets measured at amortized cost, including loans receivable and trade accounts receivables and held-to-maturity debt securities. It also applies to off-balance sheet credit exposures not accounted for as insurance (loan commitments, standby letters of credit, financial guarantees and other similar instruments) and net investment in leases recognized by a lessor in accordance with Accounting Standards Codification (“ASC”) Topic 842 – Leases. ASU 2016-13 also made changes to the accounting for available-for-sale debt securities and requires credit losses to be presented as an allowance rather than as a write-down on such securities management does not intend to sell or believes that it is more likely than not, they will be required to sell. The Company adopted the provisions of this ASU effective January 1, 2023. The adoption did not have a material impact on the Company’s unaudited condensed consolidated financial statements. In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07) which aims to improve reportable segment disclosure requirements, primarily through enhanced disclosures regarding segment expenses. The amendments in ASU 2023-07 are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The Company is required to adopt ASU 2023-07 on January 1, 2024 and has not yet completed its assessment of ASU 2023-07’s impact on its financial statements. The Company does not believe there are any other recently issued and effective or not yet effective pronouncements that would have or are expected to have any significant effect on the Company’s financial position, results of operations, or cash flows.

Property and Equipment

Property and Equipment	9 Months Ended
	Sep. 30, 2023
Property and Equipment [Abstract]
PROPERTY AND EQUIPMENT	NOTE 3: PROPERTY AND EQUIPMENT As of September 30, 2023 and December 31, 2022, the Company’s property and equipment consisted of the following: September 30, December 31, Land $ 4,743,526 $ 4,743,526 Buildings 8,006,474 8,006,474 Machinery and equipment 9,949,028 8,443,047 Fixed assets in process 413,847 8,569,163 Leasehold improvements 7,725,469 1,193,771 FUV fleet 750,902 1,089,888 FUV rental fleet 1,949,037 2,646,379 Computer equipment and software 226,915 226,915 Vehicles 681,316 748,707 Furniture and fixtures 52,007 52,007 Total property and equipment 34,498,521 35,719,877 Less: Accumulated depreciation (7,382,290 ) (5,897,083 ) Total $ 27,116,231 $ 29,822,794 Fixed assets in process are primarily comprised of building improvements that have not yet been completed and machinery and equipment not yet placed into service. Completed assets are transferred to their respective asset class and depreciation begins when the asset is placed in service. FUV fleet consists of marketing and other non-revenue generating vehicles. FUV rental fleet consists of rental revenue generating vehicles. Depreciation expense was approximately $629,000 and $2,010,000 during the three and nine months ended September 30, 2023 and $767,000 and $2,074,000 during the three and nine months ended September 30, 2022, respectively.

Intangible Assets

Intangible Assets	9 Months Ended
	Sep. 30, 2023
Intangible Assets [Abstract]
INTANGIBLE ASSETS	NOTE 4: INTANGIBLE ASSETS The following table summarizes the Company’s intangible assets: September 30, 2023 Estimated Gross Carrying Accumulated Net Book Value Tradename and trademarks 14 $ 2,052,000 $ (383,437 ) $ 1,668,563 Proprietary technology 13 7,010,000 (1,431,529 ) 5,578,471 Customer relationships 10 1,586,000 (421,045 ) 1,164,955 $ 10,648,000 $ (2,236,011 ) $ 8,411,989 December 31, 2022 Estimated Gross Carrying Accumulated Net Book Value Tradename and trademarks 14 $ 2,052,000 $ (273,508 ) $ 1,778,492 Proprietary technology 13 7,010,000 (1,027,107 ) 5,982,893 Customer relationships 10 1,586,000 (302,095 ) 1,283,905 $ 10,648,000 $ (1,602,710 ) $ 9,045,290 Amortization expense was approximately $211,000 and $633,000 during the three and nine months ended September 30, 2023 and approximately $208,000 and $629,000 during the three and nine months ended September 30, 2022, respectively.

Customer Deposits

Customer Deposits	9 Months Ended
	Sep. 30, 2023
Customer Deposits [Abstract]
CUSTOMER DEPOSITS	NOTE 5: CUSTOMER DEPOSITS The Company has received refundable customer pre-orders ranging from $100 to $500 per vehicle for purposes of securing a place in a line to order its utility vehicle. As of September 30, 2023 and December 31, 2022, these refundable pre-orders total $402,100 and $410,000, respectively. In addition, the Company also received non-refundable customer deposits of $2,500, which was reduced to $500 during the quarter ended June 30, 2022, that are required for the Company to start production of their vehicles. 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 pre-orders will no longer be refundable and additional deposit required must be paid prior to the start of the manufacturing process. As of September 30, 2023 and December 31, 2022, these non-refundable deposits total $324,700 and $268,300, respectively and are presented as Customer Deposits on the Company’s Condensed Consolidated Balance Sheets. The Company has also received approximately $74,000 and $112,000 of refundable deposits related to its TMW product line as of September 30, 2023 and December 31, 2022, respectively. The Company also receives non-refundable deposits as final payment prior to delivery of the final product. These non-refundable deposits total approximately $21,100 and $51,400 as of September 30, 2023 and December 31, 2022, respectively, and are presented as Customer Deposits on the Company’s Condensed Consolidated Balance Sheets. During the second quarter of 2022, the Company began to receive refundable deposits of $100 per unit for the recently announced Mean-Lean-Machine (“MLM”), the electric tilting trike. As of September 30, 2023 and December 31, 2022, the balance of such deposits was $120,200 and $120,600, respectively and are included as part of Customer Deposits on the Company’s Condensed Consolidated Balance Sheets. As of September 30, 2023 and December 31, 2022, the Company’s balance of deposits received was approximately $942,100 and $962,300, respectively. Deposits are included in current liabilities in the accompanying Condensed Consolidated Balance Sheets. The Company also has customer deposits from its employees. However, the balances of these deposits as of September 30, 2023 and December 31, 2022 are not material.

Mortgage Loan

Mortgage Loan	9 Months Ended
	Sep. 30, 2023
Mortgage Loan [Abstract]
MORTGAGE LOAN	NOTE 6: MORTGAGE LOAN On February 17, 2023, the Company’s wholly-owned subsidiary, Arcimoto Property Holding Company, LLC (“Borrower”) entered into a loan (“Mortgage Loan”) with HRE FUV Lending, LLC (the “Lender”) and issued a related Promissory Note (the “Note”) payable to the Lender. Pursuant to the Mortgage Loan and the Note, the Borrower is receiving a $6,000,000 loan secured by all the real properties of the Borrower and all equity interests of Borrower. The loan (i) has an initial term of six months with the possibility of a further six month extension upon the satisfaction of certain conditions; (ii) has an interest rate equal to 20% per annum of the first six months (with the possibility of retroactive reduction to 10% if repaid in full within such six (6) months without an event of default having occurred) and zero percent (0%) per annum for the six (6) month extension period; (iii) requires an upfront fee to Lender of $600,000 on the date the loan is made (and an additional facility fee to Lender of $300,000 if the loan is not repaid in full within the first six (6) months or if an event of default occurs); (iv) requires that, in the event of prepayment, a minimum of $600,000 in interest must have been paid (with the possibility of reduction to $300,000 if repaid in full within the first six (6) months if no event of default has occurred); (v) provides that $500,000 of the loan amount is retained as a holdback by Lender for disbursement to Borrower only after certain construction is completed at the real property and the cost of such construction is paid in full by Borrower; (vi) contemplates an increase in the interest rate if an event of default occurs; (vii) is fully guaranteed by Holdings and is subject to a limited recourse guaranty by the Company. The $500,000 holdback was received by the Company during the quarter ended June 30, 2023. On July 14, 2023, the Company extended the maturity date of the loan six months to February 2024. As a result of the extension, the Company paid a $300,000 facility fee and accrued an additional $600,000 fee to facilitate the extension, which were expensed as financing costs and interest expense, respectively. The Company elected to account for this mortgage loan using the fair value option. In estimating the fair value of this debt, a discounted cash flows model was used. The required inputs include the principal, payment terms, maturity date, and yield of 10.71%. The note’s fair value measurement is classified as Level 2 under the fair value hierarchy as provided by ASC 820, “Fair Value Measurement.” The fair valuation of this mortgage loan uses inputs other than quoted prices that are observable either directly or indirectly in a discounted cash flows model. Under this option, changes in fair value of the debt are recorded as an unrealized loss on mortgage loan fair value in the Unaudited Condensed Consolidated Statements of Operations at inception of $336,194. For the three and nine months ended September 30, 2023, the Company recorded an unrealized gain of $551,574 and loss of $1,038,511, respectively. The fair value of the loan was $7,038,511 as of September 30, 2023. The Company recorded the $600,000 upfront fee to lender as financing costs in the Unaudited Condensed Consolidated Statement of Operations.

Equipment Notes Payable

Equipment Notes Payable	9 Months Ended
	Sep. 30, 2023
Equipment Notes Payable [Abstract]
EQUIPMENT NOTES PAYABLE	NOTE 7: EQUIPMENT NOTES PAYABLE As of September 30, 2023, the Company has financed a total of approximately $1,936,000 of its capital equipment purchases with notes payable having monthly payments ranging from approximately $300 to $12,000, repayment terms ranging from 60

Leases

Leases	9 Months Ended
	Sep. 30, 2023
Leases [Abstract]
LEASES	NOTE 8: LEASES Operating Leases The Company has active operating lease arrangements for office space and production facilities. The Company is typically required to make fixed minimum rent payments relating to its right to use the underlying leased asset. In accordance with the adoption of ASC 842, the Company recorded right-of-use assets and related lease liabilities for these leases as of January 1, 2022. The Company has lease agreements which contain both lease and non-lease components, which it has elected to account for as a single lease component when the payments are fixed. As such, variable lease payments not dependent on an index or rate, such as real estate taxes, common area maintenance, and other costs that are subject to fluctuation from period to period are not included in lease measurement. The Company includes extensions in the determination of the lease term when it is reasonably certain that such options will be exercised. The Company’s lease agreements do not provide an implicit borrowing rate. Therefore, the Company used a benchmark approach to derive an appropriate incremental borrowing rate. The Company benchmarked itself against other companies of similar credit ratings and comparable credit quality and derived an incremental borrowing rate to discount each of its lease liabilities based on the remaining lease term. The components of operating lease expense recorded in the condensed consolidated statements of operations were as follows: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Operating lease cost $ 167,517 $ 193,018 $ 559,133 $ 548,997 Short-term lease cost 4,265 52,631 71,762 104,882 Total lease cost $ 171,782 $ 245,649 $ 630,895 $ 653,879 Variable lease cost for the three and nine months ended September 30, 2023 and 2022 was not material. Right of use assets and lease liabilities for operating leases were recorded in the condensed consolidated balance sheets as follows: September 30, December 31, Operating lease right-of-use assets $ 821,065 $ 1,336,826 Operating lease liabilities, current $ 505,548 $ 666,542 Operating lease liabilities, long-term 366,871 744,142 Total operating lease liabilities $ 872,419 $ 1,410,684 The weighted-average remaining lease term for operating leases was 1.92 years and the weighted-average incremental borrowing rate was 8.8% as of September 30, 2023. Supplemental cash flow information related to the Company’s operating leases was as follows: Nine Months Ended 2023 2022 Cash paid for amounts included in the measurement of operating lease liabilities $ 605,495 $ 554,751 As of September 30, 2023, future minimum lease payments required under operating leases are as follows: 2023 (Remainder) $ 150,793 2024 511,786 2025 230,858 2026 58,433 Thereafter — Total minimum lease payments 951,870 Less: imputed interest (79,451 ) Total $ 872,419 Finance Leases As of September 30, 2023, the Company has financed through lease agreements a total of approximately $1,867,000 of its capital equipment purchases with monthly payments ranging from approximately $1,600 to $14,000, repayment terms ranging from 48 to 60 months, and effective interest rates ranging from 2.67% to 7.44%. Monthly lease payments for all finance leases as of September 30, 2023 are approximately $39,000. These lease obligations mature ranging from May 2026 through February 2028 and are secured by approximately $3,901,000 in underlying assets which have approximately $964,000 in accumulated depreciation as of September 30, 2023. The balance of finance lease obligations was approximately $1,354,995 and $1,300,011 as of September 30, 2023 and December 31, 2022, respectively. Right of use assets and lease liabilities for finance leases were recorded in the condensed consolidated balance sheets as follows: September 30, December 31, Property and equipment, net $ 2,937,313 $ 2,672,177 Finance lease liabilities, current $ 394,157 $ 441,523 Finance lease liabilities, long-term 960,838 858,488 Total finance lease liabilities $ 1,354,995 $ 1,300,011 The weighted-average remaining lease term for finance leases was 3.35 years and the weighted-average incremental borrowing rate was 4.51% as of September 30, 2023. Supplemental cash flow information related to the Company’s finance leases was as follows: Nine Months Ended 2023 2022 Operating cash flows from finance leases $ (63,395 ) $ (46,127 ) Financing cash flows from finance leases $ (412,007 ) $ (305,296 ) Amortization and interest expense information related to the Company’s finance leases was as follows: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Amortization expense $ 84,615 $ 57,403 $ 242,270 $ 152,508 Interest expense $ 20,921 $ 16,148 $ 63,395 $ 46,127 As of September 30, 2023, future minimum lease payments required under finance leases are as follows: 2023 (Remainder) $ 115,887 2024 463,547 2025 463,547 2026 327,444 2027 110,937 Thereafter 18,490 Total minimum lease payments $ 1,499,852 Less: imputed interest (144,857 ) Total $ 1,354,995

Convertible Notes

Convertible Notes	9 Months Ended
	Sep. 30, 2023
Convertible Notes [Abstract]
CONVERTIBLE NOTES	NOTE 9: CONVERTIBLE NOTES $4,500,000 Convertible Promissory Note (“April 2022 Note”) On April 25, 2022, the Company (“Debtor”) entered into a $4,500,000 convertible promissory note agreement with Ducera Investments LLC - 2022 Series A (“Creditor”) whereby the Debtor agrees to pay the Creditor the amount borrowed plus interest accrued at an annual rate of 10% compounded quarterly. Subject to certain conditions, interest on the promissory note accrues as additional principal. The term of the April 2022 Note is five years unless conversion privileges are exercised. Conversion can occur at the option of the Creditor, the Debtor or upon maturity and is described below: (i) The Creditor has the option to convert the promissory note at any time prior to the maturity date, in full or in part, into the number of shares of common stock (“Common Stock”), no par value, of the Company equal to the amount determined by dividing the principal amount of this note plus the accrued interest by $140.00 ($7.00 - pre reverse split), subject to adjustment (as adjusted, the “Conversion Price”); (ii) at any time prior to the maturity date, the Debtor may convert the note, in full or in part, at the Conversion Price provided that, in order to exercise the conversion, the closing share price of the Common Stock on the Nasdaq Stock Market LLC (the “Closing Share Price”) for the thirty (30) consecutive trading days prior to, and including, the conversion date exceeds the per share price required to provide the Creditor with shares having a market value of at least 4.5 times $4,500,000 upon conversion; and (iii) if none of a Creditor’s election to convert shares or the Company’s election to convert shares has occurred, then upon the maturity date, the outstanding principal plus accrued interest on the note shall convert into shares of the common stock at the lesser of the Conversion Price and the greater of (x) the per share price required to provide the Creditor with shares having a market value of at least 4 times $4,500,000, and (y) $86.60 (the “Floor Conversion Price”) ($4.33 pre reverse split). In the event that the notes are converted at the Floor Conversion Price, the Company shall also pay to the Creditor on the maturity date a cash payment equal to (x) the principal amount of the note at the maturity date minus (y) the Converted Equity Market Value (as defined below) divided by 4. “Converted Equity Market Value” means the value of the shares of common stock delivered to the Creditor based on a share price equal to the lower of: (i) 10-day volume weighted average price of the common stock for the 10-days immediately prior to, but excluding, the maturity date and (ii) the Closing Share Price on the day immediately prior to the maturity date. Arcimoto has elected to measure the note at fair value. In estimating the fair value of this debt, a binomial lattice model was used. The required inputs include the estimated term of 3.57 years, risk-free rate of 4.69%, the Company’s stock volatility of 111.91%, stock price on valuation date of $0.84, and a risk premium of 9.48%. The note’s fair value measurement is classified as Level 2 under the fair value hierarchy as provided by ASC 820, “Fair Value Measurement.” The fair valuation of this convertible note uses inputs other than quoted prices that are observable either directly or indirectly. Under this option, changes in fair value of the convertible debt are recorded as an unrealized gain or loss on convertible note fair value in the Unaudited Condensed Consolidated Statements of Operations. See Note 15 “Fair Value Measurements” for further details. As a result, the Company recorded an unrealized gain (loss) of $80,550 and $364,110 for the three and nine months ended September 30, 2023, and $1,925,190 and $(220,350) for the three and nine months ended September 30, 2022, respectively. The balance on this note is $4,523,580 and $4,887,690 at September 30, 2023 and December 31, 2022, respectively, and is classified as a long-term liability on the Company’s Condensed Consolidated Balance Sheets. $10,000,000 Senior Secured Convertible Note (“September 2022 Note”) On August 31, 2022, the Company entered into a Securities Purchase Agreement (the “SPA”) with a third-party investor (the “Buyer” or the “Holder”). Under the terms of the SPA, the Company issued to the Buyer the notes and warrants pursuant to a then currently effective shelf registration statement on Form S-3, which had sufficient availability for the issuance of the securities on each closing date. Under the SPA, the Company authorized the issuance of one or more series of senior secured convertible notes of the Company, in the aggregate original principal amount of $20,000,000. Such notes shall be convertible into shares of common stock, no par value per share, of the Company. Further, the Company authorized the issuance of warrants to acquire up to an aggregate of 25,000 shares of common stock. The notes ranked senior to all outstanding and future indebtedness of the Company and its subsidiaries and was secured by a second priority perfected security interest in all of the existing and future assets of the Company and its direct and indirect subsidiaries, if any, including a pledge of all of the capital stock of each of the subsidiaries. On September 1, 2022 (the “Issuance Date”), one note (the “September 2022 Note”) in the amount of $10,000,000 with 25,000 accompanying warrants (the “Warrants”) were issued to the Buyer. The September 2022 Note was issued with a principal amount of $10,000,000 and an original issue discount of $600,000, payable in 24 periodic installments with a coupon rate of 6%, and with a maturity date of September 1, 2024. At the option of the Company, periodic installments can be paid in either cash or common stock (at an 8% discount) to the Holder. Payments in cash were subject to an additional premium and are recorded as additional interest expense. In the event of a default, the interest rate is increased to 15%, which is the default rate. At any time on or after the Issuance Date, the Holder is entitled to convert any unpaid principal plus accrued interest at a conversion price of $5.00 per share. The SPA also provided for the Holder to require payment of principal and unpaid interest up to four times per period. This provision allowed the September 2022 Note to be settled in full over a six-month period at the Holder’s option. In addition, a certain percentage of cash received from issuances of shares in conjunction with the ATM discussed in Note 2 - Summary of Significant Accounting Policies was used to pay down the principal of the September 2022 Note. The Warrants are exercisable at any time or times on or after the six month and one day anniversary of the Issuance Date. The Warrants expire on the fifth anniversary of the Issuance Date. The exercise price of each Warrant which is convertible to a share of common stock is $200.00. As a result of the issuance of the Series D Convertible Preferred Share in August 2023 the warrants associated with this convertible note were canceled and replaced with new warrants for 650,000 shares at an exercise price of $1.50. The net proceeds of $9,400,000 (after discount) are bifurcated between the Warrants and the September 2022 Note. The amount allocated to the Warrants is $598,670, which is the fair value on the Issuance Date. The remaining amount (before debt issuance costs) of $8,801,330 was allocated to the September 2022 Note on the Issuance Date. The Company has elected to measure the note at fair value. In estimating the fair value of this debt, a binomial lattice model was used. The required inputs include the risk-free rate, the Company’s stock volatility, stock price on valuation date, and a risk premium. The note’s fair value measurement is classified as Level 2 under the fair value hierarchy as provided by ASC 820, “Fair Value Measurement”. Under this option, changes in fair value of the convertible debt are recorded as an unrealized gain or loss on convertible note fair value in the Unaudited Condensed Consolidated Statements of Operations. As a result of this election, debt issuance costs incurred were approximately $232,669 and are expensed in Other expense/(income) on the Unaudited Condensed Consolidated Statements of Operations. The Company also recorded an unrealized loss of $0 and $15,820 for the three and nine months ended September 30, 2023, respectively. The note was repaid in full on January 23, 2023 with a loss on extinguishment of $2,925,610 recognized for the difference between the carrying value of the note and unamortized discount and the payment made to satisfy the note. The balance of the September 2022 Note was $5,639,231 at December 31, 2022. There is no remaining availability to issue convertible notes under the SPA. The Warrants were recorded at fair value on the September 1, 2022 issuance date at $598,670 and are remeasured at fair value quarterly and are classified as a current liability on the Condensed Consolidated Balance Sheet. The Warrants were valued at September 30, 2023 using the Black-Scholes model with approximately a 5.50 year expected term, risk free interest rate of 4.39%, and an annualized standard deviation of stock price volatility of 112.20%. As a result, the Company recorded an unrealized loss of $(418,663) and $(50,440) for the three and nine months ended September 30, 2023, respectively. See Note 15 “Fair Value Measurements” for further details. The balance of the Warrants at September 30, 2023 and December 31, 2022 is $424,914 and $374,474, respectively, and is recorded as Warrant liabilities in the current liabilities section of the Company’s Condensed Consolidated Balance Sheets.

Mezzanine Equity and Stockholde

Mezzanine Equity and Stockholders’ Equity	9 Months Ended
	Sep. 30, 2023
Mezzanine Equity and Stockholders’ Equity [Abstract]
MEZZANINE EQUITY AND STOCKHOLDERS’ EQUITY	NOTE 10: MEZZANINE EQUITY AND 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, 2,000,000 are designated as Class C Preferred Stock, and 1,491,534 are undesignated Preferred Stock. The Series A-1 Preferred Stock is convertible at any time after issuance at the option of the holder into shares of common stock at the original issue price of the Series A-1 Preferred Stock. The Series A-1 Preferred Stock was also subject to mandatory conversion provisions upon an initial public offering raising $15,000,000 or more and is not redeemable. To prevent dilution, the conversion price of the Series A-1 Preferred Stock is to be adjusted for any issuance of securities, excluding exempt securities, which change the number of shares of common stock outstanding. The Series A-1 Preferred Stockholders are entitled to equal voting rights to common stockholders on an as-converted basis and receive preference to the common stockholders upon liquidation. Except as otherwise required by law or expressly provided in the Company’s Second Amended and Restated Articles of Incorporation, as amended, each share of Class C Preferred Stock has one vote for the election of directors and on all matters submitted to a vote of shareholders of the Company. The Company is not obligated to redeem or repurchase any shares of Class C Preferred Stock. Shares of Class C Preferred Stock are not otherwise entitled to any redemption rights, or mandatory sinking fund or analogous fund provisions. On August 14, 2023, the Company filed a Certificate of Designation of Preferences, Rights and Limitations (the “Certificate of Designation”) designating 8,466 shares out of the authorized but unissued shares of its preferred stock as Series D Convertible Preferred Stock with a stated value of $1,000 per share. The holders of Series D Preferred Stock will be entitled to cumulative dividends at the rate of 8% per annum, accrued daily and compounded monthly. Dividends are payable quarterly on January 1, April 1, July 1 and October 1, beginning on the first such date after the date of the first issuance of any shares of the Series D Preferred Stock and on each date in which a holder of Series D Preferred Stock delivers a notice of conversion in cash. The shares of Series D Preferred Stock have no voting rights. Upon any liquidation, dissolution or winding-up of the Company, whether voluntary or involuntary, the then holders of the Series D Preferred Stock are entitled to receive out of the assets available for distribution to shareholders of the Company an amount equal to 100% of the stated value, plus any accrued and unpaid dividends thereon and any other fees or liquidated damages then due and owing thereon, prior and in preference to the Common Stock or any other series of preferred stock. Each share of Series D Preferred Stock is convertible (1) at any time at the option of the holder, into that number of shares of Common Stock (subject to certain beneficial ownership limitations), determined by dividing 125% of the conversion amount by $1.20 or (2) upon the Company’s common share price exceeding 300% of the conversion price. During the three months ended September 30, 2023, 104 shares of Series D Preferred Stock were converted into 108,963 shares of common stock. As of September 30, 2023 and December 31, 2022, there were 5,542 and no 2023 Third Purchase Agreements On August 15, 2023, the Company entered into a securities purchase agreement (the “Third Purchase Agreement”) with certain investors (collectively, the “Third Purchasers”). The Third Purchase Agreement provides for the sale, in a private placement, by the Company of an aggregate of (i) up to 8,471 shares of the Company’s 8% Series D Convertible Preferred Stock, stated value $1,000 per share (the “Series D Preferred Stock”), initially convertible into an aggregate of 1,760,298 shares of the Company’s common stock, no par value (the “Common Stock”) at a conversion price of $1.20 (the shares of Common Stock issuable upon conversion of the Preferred Shares, collectively, the “Conversion Shares”), and (ii) warrants (the “Warrants”), to purchase up to an aggregate of 14,110,835 shares of Common Stock (the “Warrant Shares,” and together with the Series D Preferred Stock, and Warrants, the “Securities”). For purposes of conversion into Common Stock, the Series D Preferred Stock has a stated value of $8,471,000, which represents an original issue discount of 20%. The offering is to occur in two tranches. The first closing of the transaction with gross proceeds of $4,300,002, and net proceeds of $4,225,002, after cash placement agent fees, occurred on August 15, 2023 (the “First Closing”). In addition to the cash placement agent fees, the Company issued 269 share of Series D Preferred Stock and 448,334 warrants as placement agent compensation for the August 15, 2023 offering. A total of 5,646 shares of Series D Preferred Stock were issued in the First Closing. The second closing of the transaction can only occur after the date that the Company has received shareholder approval of the transaction and the Common Stock underlying the Securities has been registered with the SEC, subject to the satisfaction of customary closing conditions (the “Second Closing”). As of September 30, 2023, the Second Closing has not yet occurred due to the low trading volume of the Company’s Common Stock. The Series D Preferred Stock is classified as a mezzanine equity and is recorded at fair value at the time of issuance. The fair value of the Series D Preferred Stock was determined to be $4,418,015 utilizing a binomial lattice model at the date of issuance. The assumptions used in the lattice model were a 1.90-year term, risk free interest rate of 4.97%, risk adjusted rate of 30.00%, and an annualized standard deviation of stock price volatility of 117.25%. Share issuance costs of $158,787 were accounted for as a reduction in the Series D Preferred Stock totaling a carrying value of $4,259,228 on the date of issuance. The value of the Series D Preferred Stock is accreted to redemption value of $4,377,422 at September 30, 2023. The Company recorded a reduction to additional paid in capital of $118,194 related to the redemption value accretion for the three and nine months ended September 30, 2023. Each Warrant has an exercise price of $1.50 per share and is exercisable upon the earlier of (i) six months from the First Closing date or (ii) the date that the Company has received shareholder approval of the transaction and the common stock underlying such Warrants has been registered with the SEC for resale (the “Initial Exercise Date”), subject to certain ownership limitations and will expire on the fifth anniversary of the Initial Exercise Date. The Company has determined that the Warrants are liability classified. The fair value of the Warrants was determined utilizing a Black-Scholes model at the dates of issuance. The assumptions used in the Black-Scholes model were a 5.00 year expected term, risk free interest rate of 4.30%, and an annualized standard deviation of stock price volatility of 111.09%. The grant date fair value of the Warrants was $9,618,708. The Warrants were remeasured at fair value using a Black-Sholes model using a 4.88 year expected term, risk free interest rate of 4.6%, and an annualized standard deviation of stock price volatility of 113.57% resulting in a fair value of $5,930,349 at September 30, 2023. The Warrants are classified as a current liability on the Condensed Consolidated Balance Sheets. As a result, the Company recorded an unrealized gain of $3,688,359 for the three and nine months ended September 30, 2023 in the Condensed Consolidated Statements of Operations. The second tranche right associated with the Second Closing was determined to be a liability classified freestanding financial instrument that requires bifurcation from the initial Series D Preferred Stock issued. The fair value of the bifurcated derivative at issuance was $2,264,629 and is remeasured at a fair value of $1,195,018 at September 30, 2023 as is recorded as a current liability on the Condensed Consolidated Balance Sheets. The fair value was measured as the difference between the forward value of the second tranche less the expected proceeds to be received. The conversion options on the Series D Preferred Stock from the First Closing were also determined to be liability classified freestanding financial instruments that require bifurcation. The fair value of the bifurcated derivative at issuance was $4,365,786 and are remeasured at a fair value of $2,239,309 at September 30, 2023 as is recorded as a long-term liability on the Condensed Consolidated Balance Sheets. The fair value was measured as the difference between the Series D Preferred Stock with and without the conversion options. Both of the derivatives are measured at fair value each reporting period with the change in fair value recorded in the Condensed Consolidated Statements of Operations. The Company recorded an unrealized gain of $3,196,088 for the three and nine months ended September 30, 2023 related to the derivatives in the Condensed Consolidated Statements of Operations. As the fair value of the Series D Preferred Stock, Warrants and derivative liabilities was greater than the cash proceeds received from the offering, the Company recorded the excess of fair value over proceeds received of $16,283,349 as financing costs for the three and nine months ended September 30, 2023 in the Condensed Consolidated Statements of Operations. Common Stock The Company has reserved a total of 1,848,241 and 378,296 shares of its common stock pursuant to the equity incentive plans (see Note 11 – Stock-Based Payments) as of September 30, 2023 and December 31, 2022, respectively. The Company has 348,241 and 278,296 stock units, options and warrants outstanding under these plans as of September 30, 2023 and December 31, 2022, respectively. The Company has no Exercise of Stock Options and Warrants A total of 223 employee options, with an exercise price of $34.24 per share, were exercised for total proceeds to the Company of $7,636 during the three months ended September 30, 2022. A total of 2,202 employee options, with exercise prices ranging from $34.20 to $50.00 per share were exercised for total proceeds to the Company of $91,095 during the nine months ended September 30, 2022. No employee options were exercised during the three and nine months ended September 30, 2023. No warrants were exercised during the nine months ended September 30, 2023. A total of 400 employee warrants, with an exercise price of $50.00 per share, were exercised for total proceeds to the Company of $20,000 during the nine months ended September 30, 2022. A total of 15,336 and 20,136 employee restricted stock units vested and were converted into common shares during the three and nine months ended September 30, 2023, respectively. A total of 460 employee restricted stock units vested and were converted into common shares during the nine months ended September 30, 2022. Offerings of Common Stock and Warrants 2023 Purchase Agreements On January 18, 2023, the Company entered into securities purchase agreements (the “Purchase Agreements”) with certain investors (collectively, the “First Purchasers”). The Purchase Agreements provide for the sale and issuance by the Company of an aggregate of (i) 3,300,000 shares (the “Shares”) of the Company’s common stock, no par value per Share (the “Common Stock”), (ii) pre-funded warrants (the “Pre-Funded Warrants”) to purchase up to 700,000 shares of common stock and (iii) warrants (the “Common Warrants” and, together with the Shares and the Pre-Funded Warrants, the “Securities”) to purchase up to 4,000,000 shares of common stock. The offering price per Share and associated Common Warrants is $3.00. The offering price per Pre-Funded Warrant and associated Common Warrant is $2.9999. The Pre-Funded Warrants are immediately exercisable subject to certain ownership limitations, have an exercise price of $0.0001 per share, and may be exercised at any time until all of the Pre-Funded Warrants are exercised in full. The Pre-Funded Warrants were exercised immediately upon issuance. Each Common Warrant has an exercise price of $3.00 per share, will be exercisable immediately upon issuance subject to certain ownership limitations and will expire on the fifth anniversary of the date on which the Common Warrants become exercisable. Both the Pre-Funded and Common Warrants contain provisions regarding settlement in the event of a fundamental transaction that calculate the fair value of the warrants using a prespecified volatility assumption that was not consistent with the input used to value the warrants at issuance which causes the warrants to be classified as liabilities. The Pre-Funded Warrants are recorded at fair value on January 18, 2023 at $1,735,941. As the Pre-Funded Warrants were immediately exercised, the fair value is recorded in equity. The Common Warrants are recorded at fair value on January 18, 2023 at $7,951,393 and are remeasured at a fair value of $2,055,008 at September 30, 2023 and are classified as a current liability on the Condensed Consolidated Balance Sheets. As a result, the Company recorded an unrealized gain of $2,194,743 and $5,896,385 for the three and nine months ended September 30, 2023, respectively, in the Condensed Consolidated Statements of Operations. The offering resulted in gross proceeds to the Company of approximately $12 million. The net proceeds to the Company from the offering were approximately $11 million, after deducting placement agent fees and other expenses. The Company used $7,500,000 of the net proceeds from the offering to repay the September 2022 Note as disclosed in Note 9 - Convertible Notes, and the remainder of the proceeds for working capital and general corporate purposes. 2023 Second Purchase Agreements On June 12, 2023, the Company entered into securities purchase agreements (the “Second Purchase Agreements”) with certain investors (collectively, the “Second Purchasers”). The Second Purchase Agreements provide for the sale and issuance by the Company of an aggregate of 1,467,648 shares (the “Shares”) of the Company’s common stock, no par value per share (the “Common Stock”), in a registered direct offering and warrants (the “Warrants” and, together with the Shares, the “Securities”) to purchase up to 2,935,296 shares of Common Stock in a concurrent private placement (the transactions contemplated by the Second Purchase Agreements are referred to herein as the “Second Offering”). The offering price per Share and associated Warrant is $1.70. Each Warrant has an exercise price of $1.75 per share, will be exercisable six months after issuance subject to certain ownership limitations and will expire on the fifth anniversary of the date on which the Warrants become exercisable. The Second Offering resulted in gross proceeds to the Company of approximately $2.5 million. The net proceeds to the Company from the Second Offering were approximately $2.3 million, after deducting placement agent fees and expenses and offering expenses payable by the Company. The Company used $250,000 of the net proceeds from the offering to partially repay the Note payable - related party, and the remainder of the proceeds for working capital and general corporate purposes. The Company paid the Placement Agent a cash fee equal to $275,000 which was 5.0% of the aggregate purchase price paid by all Second Purchasers in connection with the sale of the Securities, and warrants to purchase a number of shares of Common Stock equal to 5% of the Shares (the “Placement Agent Warrants”). The Company issued 73,529 Placement Agent Warrants. The Placement Agent Warrants have a five-year term, and are exercisable beginning six months after the closing of the Second Offering at a price of $1.87 per share. The Company recorded the aggregate placement agent fees as financing costs in the Condensed Consolidated Statements of Operations. The Warrants issued to the Second Purchasers are recorded at fair value on June 12, 2023 at $3,906,366 and are remeasured at a fair value of $1,842,282 at September 30, 2023 and are classified as a current liability on the Condensed Consolidated Balance Sheets. As the fair value of the Warrants was greater than the cash proceeds received from the offering, the Company recorded the excess of warrant fair value over proceeds received of $1,404,374 as financing costs. The 1,467,648 common shares issued in the offering had a fair value of $2,362,914. The fair value of the common shares issued were recorded as additional financing costs in the transaction because the aggregate fair value of the liability classified warrants and the common shares issued exceeded the offering proceeds. The Placement Agent Warrants are recorded at fair value on June 12, 2023 at $95,740 and are remeasured at a fair value of $44,410 at September 30, 2023 and are also classified as a current liability on the Condensed Consolidated Balance Sheets. As a result, the Company recorded an unrealized gain of $1,686,806 and $2,108,424 for the three and nine months ended September 30, 2023 for the Warrants and Placement Agent Warrants in the Condensed Consolidated Statements of Operations. 2022 Offerings On January 14, 2022, the Company entered into an Equity Distribution Agreement (the “Sales Agreement”) with Canaccord, under which the Company may offer and sell, from time to time, through or to Canaccord, as sales agent up to $100,000,000 of its common stock. The Company intends to use the net proceeds of the sales pursuant to the Sales Agreement primarily for working capital and general corporate purposes. The Company issued and sold 188,664 shares of common stock during the three months ended September 30, 2022, in connection with the Sales Agreement at per share prices between $28.80 and $67.00, resulting in net proceeds to the Company of $10,177,356 after subtracting offering expenses. The Company issued and sold 391,985 shares of common stock during the nine months ended September 30, 2022, in connection with the Sales Agreement at per share prices between $28.80 and $143.60, resulting in net proceeds to the Company of $26,493,094 after subtracting offering expenses. There were no

Stock-Based Payments

Stock-Based Payments	9 Months Ended
	Sep. 30, 2023
Stock-Based Payments [Abstract]
STOCK-BASED PAYMENTS	NOTE 11: STOCK-BASED PAYMENTS The Company has common stock, common stock units, and common stock purchase options and warrants reserved pursuant to the 2022 Omnibus Stock Incentive Plan (“2022 Plan”), 2018 Omnibus Stock Incentive Plan (“2018 Plan”), and the Amended and Restated 2015 Stock Incentive Plan (“2015 Plan”). Stock-based compensation, including stock options, warrants and stock issued for compensation and services is included in the unaudited condensed consolidated statements of operations as follows: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Cost of goods sold $ 245,026 $ 453,978 $ 894,626 $ 1,425,055 Research and development 110,724 275,290 421,570 897,866 Sales and marketing 188,395 314,967 625,271 1,004,621 General and administrative 111,676 505,772 789,394 1,445,595 Total $ 655,821 $ 1,550,007 $ 2,730,861 $ 4,773,137 2022 Omnibus Stock Incentive Plan On July 29, 2022, Arcimoto’s shareholders approved the 2022 Omnibus Stock Incentive Plan (the “2022 Plan”). The Plan enables the Company to provide additional incentives or awards to Employees, Directors and Consultants. The maximum aggregate number of shares which may be issued pursuant to all awards is 100,000 shares. The 2022 Plan was amended on June 16, 2023 to increase the number of shares available for issuance to 1,600,000. The 2022 Plan provides the Company the ability to grant 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. During the nine months ended September 30, 2023, the Company issued 100,000 restricted stock awards under the plan, which vested immediately. There is no non-vested compensation expense as of September 30, 2023. Awards that are forfeited generally become available for grant under the 2022 Plan. Stock-based compensation expense under the 2022 Plan for the three and nine months ended September 30, 2023 was $0 and $258,923, respectively, recorded in the Unaudited Condensed Consolidated Statements of Operations. There was no stock-based compensation expense under the 2022 Plan for the three and nine months ended September 30, 2022. 2018 Omnibus Stock Incentive Plan The 2018 Plan authorizing 50,000 shares was approved by the Board of Directors and the Company’s shareholders at the Company’s 2018 annual meeting of shareholders held on June 9, 2018. At the 2019 Annual Meeting, the shareholders approved an additional 50,000 shares of common stock to be issued under the 2018 Plan. On April 20, 2020, the board of directors approved an increase from 100,000 to 200,000 shares; at the annual shareholder meeting on June 20, 2020, the increase was approved by a majority of the shareholders. At the annual shareholder meeting on June 11, 2021, a majority of the shareholders approved an increase from 200,000 to 300,000 shares. 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 NQSOs and restricted stock, provided that only employees are entitled to receive incentive stock options in accordance with IRS guidelines. As of September 30, 2023, the Company had a remaining reserve of 220,489 shares of common stock under the 2018 Plan for outstanding grants. Since approval of the 2022 Plan, awards that are forfeited no longer become available for grant under the 2018 Plan. Stock-based compensation expense under the 2018 Plan for the three and nine months ended September 30, 2023 was $655,821 and $2,470,263, respectively. Stock-based compensation expense under the 2018 Plan for the three and nine months ended September 30, 2022 was $1,548,773 and $4,750,995, respectively, recorded in in the Condensed Consolidated Statements of Operations. During the first nine months of 2022, unqualified and qualified options to purchase 108,303 shares of common stock were granted to employees and vendors/consultants under the 2018 Plan with a grant date fair value of approximately $6,162,000. The options were valued using the Black-Scholes option pricing model with approximately a 6.1 year expected term, risk free interest rate of 2.2%, a dividend yield of 0%, and an annualized standard deviation of stock price volatility of 60.97%. These options vest over three years. During the first nine months of 2022, 23,690 restricted stocks were issued to certain personnel and outside consultants with a grant date fair value of approximately $1,514,000. These shares were valued by using the closing date of the Company’s stock price on the date of the grant. These awards have various vesting terms, ranging from immediate vesting to one year. No options were granted or restricted stock issued during the first nine months of 2023 under the 2018 Plan. Total compensation cost related to non-vested awards issued under the 2018 Plan not yet recognized as of September 30, 2023 was approximately $2,666,461 and will be recognized on a straight-line basis through July 2025 based on the respective vesting periods. The amount of future stock option compensation expense could be affected by any future option grants or 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. 50,000 shares of common stock were authorized for issuance under the 2015 Plan. Since approval of the 2022 Plan, awards that are forfeited no longer become available for grant under the 2015 Plan. As of September 30, 2023, 25,688 shares of common stock were reserved for issuance pursuant to stock options that are outstanding. Stock-based compensation expense under the 2015 Plan for the three and nine months ended September 30, 2023 was $0 and $1,675, respectively. Stock-based compensation expense under the 2015 Plan for the three and nine months ended September 30, 2022 was $1,234 and $22,142, respectively, recorded in in the Condensed Consolidated Statements of Operations. There is no non-vested compensation expense as September 30, 2023 as all awards were fully vested as of May 2023.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 12: COMMITMENTS AND CONTINGENCIES Litigation From time to time, the Company might become involved in lawsuits, claims, investigations, proceedings, and threats of litigation relating to intellectual property, commercial arrangements and other matters arising in the ordinary course of our business. The Company has an accounting policy to record an accrual of legal costs on the basis of an estimate of future legal costs. As of September 30, 2023, the Company had no accrual for future legal costs..

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2023
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 13: RELATED PARTY TRANSACTIONS Arcimoto may, from time to time, sell to its management and employees at a discounted price. Sales to such parties for the three and nine months ended September 30, 2023 were not material. Also, from time to time, the Company may make certain purchases from an entity owned by the former Chief Operating Officer. For the three and nine months ended September 30, 2023, no purchases were made and the amount owed to the related party was nil. On May 26, 2023, the Company entered into a $500,000 promissory note with a director of the Company (the “Related Party Note”). The principal was due and payable in cash on the earlier of (a) June 25, 2023; or (b) the date the Company raises third-party capital in an amount equal to or in excess of the principal (“Maturity Date”) in either cash or, at the option of the holder, in the event the Arcimoto issues convertible promissory notes in an offering led, or participated, by Ducera Investments LLC (“Ducera”) to third parties before the Maturity Date, in a convertible promissory note on the same terms as purchased by such third parties. On the Maturity Date, the Company paid the holder a fixed interest amount of $75,000 in the Company’s common stock calculated based on the closing stock price on the Maturity Date. The Related Party Note was amended on June 11, 2023. The amendment provided that if the promissory note becomes due because the Company raises third-party capital in an amount equal to or in excess of $500,000, the principal amount shall be paid 50% in cash and 50% in the Company’s common stock based on the closing stock price on the Maturity Date. On June 12, 2023, the Company completed an equity offering raise in excess of $500,000. The Related Party Note matured in connection with the offering, as described above, and was partially repaid with $250,000 in cash. The remaining principal balance and interest are to be settled by the issuance of 201,863 shares of Common Stock, which have not yet been issued. On April 25, 2022, the Company entered into a $4,500,000 convertible promissory note agreement with Ducera, a related party because a partner at Ducera is also a member of the Company’s Board of Directors. Further disclosures are presented in Note 9 - Convertible Notes. On September 1, 2022, Arcimoto reimbursed Ducera Investments LLC approximately $67,000 for third party legal fees and expenses in conjunction with the issuance of the September 2022 Note described in Note 9 - Convertible Notes.

Segment Reporting

Segment Reporting	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
SEGMENT REPORTING	NOTE 14: SEGMENT REPORTING Arcimoto has three reportable segments that are identified based on its product lines and services: fun utility vehicles (“FUV”), rental and TMW. The FUV segment consists of the sale of its electric vehicle product lines while the rental segment’s operations involve generating revenue from the short-term rental of its electric vehicles via various channels or networks. The TMW segment engages in the design, production, sales, and installation of a bolt on kit that converts a two wheeled motorcycle into a tilting three wheeled motorcycle. The reportable segments were identified based on how the Chief Operations Decision Maker (“CODM”), which in the Company’s case, is the Chief Executive Officer (“CEO”), allocates resources to the various operations. The following tables disclose the financial information used by the CODM in allocating the Company’s resources. For the Three Months Ended September 30, 2023 September 30, 2022 FUV Rental TMW Total FUV Rental TMW Total Revenues $ 879,473 $ 64,618 $ 166,160 $ 1,110,251 $ 1,675,428 $ 145,470 $ 203,307 $ 2,024,205 Operating loss (7,268,731 ) (176,051 ) (180,994 ) (7,625,776 ) (17,795,421 ) (636,466 ) (485,946 ) (18,917,833 ) Financing costs 16,583,349 — Unrealized (gain) loss on convertible note, mortgage loan, warrants and derivatives fair value (10,979,457 ) (2,122,828 ) Interest expense, net 715,613 84,945 Other (income) expense, net 97,787 83,749 Income tax (expense) — — Net loss $ (14,043,068 ) $ (16,963,699 ) For the Nine Months Ended September 30, 2023 September 30, 2022 FUV Rental TMW Total FUV Rental TMW Total Revenues $ 3,515,136 $ 161,485 $ 547,504 $ 4,224,125 $ 3,205,783 $ 211,786 $ 756,210 $ 4,173,779 Operating loss (21,228,188 ) (609,323 ) (552,211 ) (22,389,722 ) (44,139,916 ) (1,576,960 ) (1,307,407 ) (47,024,283 ) Financing costs 21,827,173 — Unrealized (gain) loss on convertible note, mortgage loan, warrants and derivatives fair value (14,148,595 ) 22,712 Interest expense, net 1,027,399 258,851 Loss on debt extinguishment 2,925,610 — Other (income) expense, net 113,688 12,553 Income tax (expense) (7,042 ) (3,200 ) Net loss $ (34,142,039 ) $ (47,321,599 )

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	NOTE 15: FAIR VALUE MEASUREMENTS The Company records certain assets and liabilities at fair value, which is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). The Company used the following methods and assumptions to estimate the fair value of instruments: ● Cash and cash equivalents ● Accounts receivable ● Accounts payable and accrued expenses ● Warrant liabilities ● Derivative liabilities ● Convertible Notes carried under the fair value option ● Mortgage Loan carried under the fair value option Assets and liabilities measured at fair value are classified into the following categories: ● Level 1: Quoted market prices in active markets for identical assets or liabilities. ● Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data. ● Level 3: Unobservable inputs reflecting the reporting entity’s own assumptions or external inputs from inactive markets. The following table sets forth our financial liabilities as of September 30, 2023 and December 31, 2022 that are measured at fair value on a recurring basis during the period (in thousands): September 30, 2023 Fair Value Level 1 Level 2 Level 3 Warrant liabilities $ 10,297 $ - $ 10,297 $ - Derivative liabilities 3,434 - 3,434 - Convertible notes 4,524 - 4,524 - Mortgage loan 7,039 - 7,039 - Total $ 25,294 $ - $ 25,294 $ - December 31, 2022 Fair Value Level 1 Level 2 Level 3 Warrant liabilities $ 374 $ - $ 374 $ - Derivative liabilities - - - - Convertible notes 10,527 - 10,527 - Mortgage loan - - - - Total $ 10,901 $ - $ 10,901 $ - Cash and cash equivalents, accounts receivable, accounts payable and accrued expenses are valued using Level 1 inputs while warrant liabilities, derivative liabilities, and convertible notes and the mortgage loan where the fair value option has been elected are valued using Level 2 inputs. For the three and nine months ended September 30, 2023, the Company recorded an unrealized gain of $10,979,457 and $14,148,595, respectively, on the change in fair value of these liabilities. Refer to Note 6 – Mortgage Loan, Note 9 – Convertible Notes, and Note 10 – Stockholders’ Equity for the significant inputs and assumptions used in the valuation model for each respective financial instrument.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 16: SUBSEQUENT EVENTS The Company evaluates subsequent events that have occurred after the balance sheet date but before the unaudited condensed consolidated financial statements are issued. There are two types of subsequent events: (1) recognized, or those that provide additional evidence with respect to conditions that existed at the date of the balance sheet, including the estimates inherent in the process of preparing financial statements, and (2) non-recognized, or those that provide evidence with respect to conditions that did not exist at the date of the balance sheet but arose subsequent to that date. The Company has evaluated subsequent events through the date the condensed consolidated financial statements were issued and up to the time of filing with the Securities and Exchange Commission. The discussions that follow reflect this evaluation. The Company has been sued in the Circuit Court of the State of Oregon, DWFritz Automation, LLC (“DWFritz”) v. Arcimoto et al. (Case No. 23CV45784 filed on November 7, 2023) for breach of contract. DWFritz contends that through the exchange of purchases order and related documents DWFritz agreed to provide Arcimoto for certain concept, design, and manufacturing products and services. DWFritz contends they fully performed and completed work under the purchase order through the third stage, which Arcimoto failed to pay on the contractually agreed upon due date. As of September 30, 2023, the Company had $871,722 accrued related to the amounts owed to DWFritz. The Company has been sued in the state of New Jersey by Highland Capital for breach of contract. Highland Capital is seeking payment in the amount of $255,799, plus interest, attorney fees, and expense. The Company has been sued by Roush Industries filed on January 31, 2024 for breach of contract. Roush Industries is seeking payment in the amount of $553,052, plus 18% interest beginning on September 13, 2023, as well as attorney fees and plaintiff costs. The Company has been sued in the United States District Court for the Northern District of Illinois Eastern Division, Deutsche Leasing USA, Inc. (“Deutsche Leasing”) v Arcimoto, Inc (Case No. 24-cv-00429 filed on January 25, 2024) for breach of contract. Deutsche Leasing is seeking payment of $521,792, including accelerated future principal owed under Financing Agreement.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	9 Months Ended
	Sep. 30, 2023
Summary of Significant Accounting Policies [Abstract]
1-for-20 Reverse Stock Split	1-for-20 Reverse Stock Split On November 11, 2022, the Board of Directors approved a reverse stock split of 1-for-20. This action enabled the Company to access additional funds for operational needs by maintaining its listing requirements. The 1-for-20 reverse stock split decreased the number of outstanding shares and increased net loss per common share. All per share and share amounts presented have been retroactively adjusted for the effect of this reverse stock split for all periods presented.
Going Concern	Going Concern The accompanying financial statements have been prepared on the 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 incurred significant losses since inception and management expects losses to continue for the foreseeable future. In addition, the Company does not have sufficient cash on hand to pay obligations as they come due. ● On January 14, 2022 the Company entered into an agreement with Canaccord Genuity LLC (“Canaccord”) to raise the at-the-market (“ATM”) offering amount to $100,000,000, and on October 4, 2022, the Company signed an equity line of credit (“ELOC”) agreement with Tumim Stone Capital LLC whereby the investor will provide up to $50,000,000 of financing with certain restrictions. On January 18, 2023, the Company obtained additional funds totaling $12.0 million via a confidentially marketed public equity offering. Due to the terms of this offering, the Company is restricted from variable rate transactions and, thus, unable to utilize the ATM and ELOC to raise additional capital for a period of one year from January 18, 2023, the date the Prospectus Supplement was filed. The terms of this offering also restricted equity transactions for a period of 90 days unless approved by more than 50% of the investors in the offering filed on January 18, 2023. After that 90-day period, the Company became able to offer to sell its securities in a public offering under its S-3 registration. However, this ability to obtain additional financing is dependent on the price and volume of the Company’s common stock and may be further restricted by certain Securities and Exchange Commission (“SEC”) rules that limit the number of shares the Company is able to sell under its Form S-3 registration statement. The Company is currently not able to utilize the ATM and ELOC to raise additional capital due to restrictions from the June 2023 and August 2023 offerings discussed below. ● On February 17, 2023, the Company obtained a loan that is secured by the Company’s land and buildings as disclosed in Note 6 - Mortgage Loan. The principal amount of this loan is $6,000,000 and includes a discount of $600,000. The interest rate on this loan was 20% and the loan was originally due in August 2023 unless an additional six-month extension was granted. The extension could only be granted under certain conditions, which included, in part, payment of all accrued interest and a facility fee of $300,000 and that no event or potential event of a default existed. On July 14, 2023, the Company was granted an additional six-month extension and the loan is now due in February 2024. As a result of the extension, interest is 0% as of August 18, 2023. ● In May 2023, the Company also received a $500,000 loan from a related party, which was subsequently paid down $250,000 in June 2023 using the proceeds from the June 2023 offering discussed below. ● In June 2023, the Company raised approximately $2,300,000, net of fees, from a registered direct offering. ● On August 15, 2023, the Company received $4.2 million, net of fees, from an offering of Series D Convertible Preferred Stock, as disclosed in Note 10 – Stockholders’ Equity. The holders of Series D Preferred Stock are entitled to cumulative dividends at the rate of 8% per annum and payable each quarter. The Company is required to redeem the Series D Preferred Stock in monthly installments and will redeem the full outstanding balance on the second anniversary of the issuance date. Each share of Series D Preferred Stock is convertible at any time at the option of the holder into common stock. Furthermore, the Company’s accounts payable balance is approximately $9,500,000 at February 9, 2024, of which a significant amount is more than 30 days past due. Management has evaluated these conditions and concluded that they raise substantial doubt about the Company’s ability to continue as a going concern for a period of at least one year from the issuance of these unaudited financial statements. Management has initiated a series of actions to alleviate the Company’s financial situation: (1) reducing headcount significantly via lay-offs and an unpaid furlough program that started at the beginning of the fourth quarter of 2022 and that have continued; (2) temporarily suspending production in the first quarter of 2023 in order to relocate operations to a new facility and focus purchases on the minimum needed to resume production, which was resumed in February 2023; (3) negotiating payment plans with the Company’s vendors that are critical to the Company’s operations; and (4) monetizing assets that may not be critical to the core business. Management also plans to pursue other financing solutions through the credit and equity markets. There can be no assurance that the Company will be able to secure such additional financing or, if available, that it will be on favorable terms or that the Company will be able to sufficiently reduce costs for any such additional financing to meet its needs. Therefore, the plans cannot be deemed probable of being implemented. As a result, the Company has concluded that management’s plans do not alleviate substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might result from the outcome of this uncertainty.
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated 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 unaudited condensed consolidated financial statements contain all adjustments (consisting of only normal recurring adjustments) necessary to present fairly the Company’s financial position as of September 30, 2023, and the results of its operations for the three and nine months ended September 30, 2023 and 2022 and its cash flows for the nine months ended September 30, 2023 and 2022. Results for the three and nine months ended September 30, 2023 are not necessarily indicative of the results to be expected for the year ending December 31, 2023. 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, 2022 included in the Company’s Annual Report on Form 10-K filed with the SEC on April 14, 2023. The preparation of financial statements in conformity with U.S GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and its related disclosures. Actual amounts could differ materially from those estimates. The consolidated financial statements include the accounts of the Company. and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated upon consolidation.
Inventory	Inventory Inventory is stated at the lower of cost (using the first-in, first-out method (“FIFO”)) or net realizable value. Inventories consist mainly of purchased electric motors, electrical storage and transmission equipment, and component parts. Raw materials include parts that have been sub-assembled and manufactured parts. September 30, December 31, Raw materials $ 9,217,444 $ 11,491,555 Work in progress 199,521 — Finished goods 1,469,568 832,462 Total $ 10,886,533 $ 12,324,017 The Company is required to remit partial prepayments for some purchases of its inventories acquired from overseas vendors which are included in prepaid inventory. The Company is currently selling vehicles below the base cost of a finished unit. Accordingly, the Company expensed all labor and overhead as period costs and recorded an allowance to reduce certain inventories to net realizable value of approximately $849,000 and $1,280,000 as of September 30, 2023 and December 31, 2022, respectively. The amount expensed for all labor and overhead was approximately $5,219,000 and $11,362,000 for the nine months ended September 30, 2023 and 2022, respectively, and $1,763,000 and $4,289,000 for the three months ended September 30, 2023 and 2022, respectively.
Intangible Assets	Intangible Assets Intangible assets primarily consist of trade names/trademarks, proprietary technology, and customer relationships. They are amortized using the straight-lined method over a period of 10 to 14 years. The Company assesses the recoverability of its finite-lived intangible assets when there are indications of potential impairment.
Net Loss per Share	Net Loss per Share The Company’s computation of loss per share (“EPS”) includes basic and diluted EPS. Basic EPS is measured as the 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. The following table presents the reconciliation of the numerator and denominator for calculating net loss per share: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Numerator: Net loss $ (14,043,068 ) $ (16,963,699 ) $ (34,142,039 ) $ (47,321,599 ) Accretion of Series D 8% Convertible Preferred Stock to redemption value (118,194 ) — (118,194 ) — Net loss attributable to common shareholders (14,161,262 ) (16,963,699 ) (34,260,233 ) (47,321,599 ) Denominator Weighted average common shares outstanding - basic and diluted 8,954,919 2,247,818 7,741,214 2,042,891 Net loss per common share - basic and diluted $ (1.58 ) $ (7.55 ) $ (4.43 ) $ (23.16 ) During the three and nine months ended September 30, 2023 and 2022, the Company excluded the outstanding Employee Equity Plans (“EEP”) and other securities summarized below calculated using the Treasury Stock Method for options and other instruments and the If-Converted Method for convertible notes, 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. Three Months Ended Nine Months Ended 2023 2022 2023 2022 Options and other instruments under the 2012, 2015, 2018, and 2022 Plans to purchase common stock — 23,734 — 45,820 Conversion of convertible notes, if-converted method 59,440 86,809 59,440 42,556 Total 59,440 110,543 59,440 88,376 All options and warrants were excluded from the table above as they are out of the money.
Fair Value Measurements	Fair Value Measurements ASC 820, Fair Value Measurements and Disclosures, defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy based on the observability of the inputs and distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2) an entity’s own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below: Level 1 – Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 3 – Inputs that are both significant to the fair value measurement and unobservable. Fair value estimates discussed herein were based upon certain market assumptions and pertinent information available to management as of September 30, 2023 and December 31, 2022. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments. The Company measures convertible notes, the mortgage loan, derivative liabilities and warrant liabilities at fair value on a recurring basis. Refer to Note 15, Fair Value Measurements, for details.
Convertible Notes, Mortgage Loan, Derivative Liabilities and Warrants	Convertible Notes, Mortgage Loan, Derivative Liabilities and Warrants We have elected the fair value option under ASC 825-10-25 to account for the convertible notes as well as the mortgage loan, derivative liabilities and warrants. The fair value measurements are classified as Level 2 under the fair value hierarchy as provided by ASC 820, “Fair Value Measurement”. The fair valuation of these convertible notes, mortgage loan, derivative liabilities, and warrants use inputs other than quoted prices that are observable either directly or indirectly. Under this option, changes in fair value are recorded as unrealized gain/loss on convertible notes, mortgage loan and warrants fair value in the Condensed Consolidated Statements of Operations. Refer to Note 6 – Mortgage Loan, Note 9 – Convertible Notes, and Note 10 – Stockholders’ Equity for additional details regarding the fair value and significant assumptions utilized.
Accounting Pronouncements Recently Adopted	Accounting Pronouncements Recently Adopted In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”) which replaces the current incurred loss methodology with an expected loss methodology which is referred to as the current expected credit loss (“CECL”) methodology. The measurement of credit losses under the CECL methodology is applicable to financial assets measured at amortized cost, including loans receivable and trade accounts receivables and held-to-maturity debt securities. It also applies to off-balance sheet credit exposures not accounted for as insurance (loan commitments, standby letters of credit, financial guarantees and other similar instruments) and net investment in leases recognized by a lessor in accordance with Accounting Standards Codification (“ASC”) Topic 842 – Leases. ASU 2016-13 also made changes to the accounting for available-for-sale debt securities and requires credit losses to be presented as an allowance rather than as a write-down on such securities management does not intend to sell or believes that it is more likely than not, they will be required to sell. The Company adopted the provisions of this ASU effective January 1, 2023. The adoption did not have a material impact on the Company’s unaudited condensed consolidated financial statements. In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07) which aims to improve reportable segment disclosure requirements, primarily through enhanced disclosures regarding segment expenses. The amendments in ASU 2023-07 are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The Company is required to adopt ASU 2023-07 on January 1, 2024 and has not yet completed its assessment of ASU 2023-07’s impact on its financial statements. The Company does not believe there are any other recently issued and effective or not yet effective pronouncements that would have or are expected to have any significant effect on the Company’s financial position, results of operations, or cash flows.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2023
Summary of Significant Accounting Policies [Abstract]
Schedule of Inventory	Inventories consist mainly of purchased electric motors, electrical storage and transmission equipment, and component parts. Raw materials include parts that have been sub-assembled and manufactured parts. September 30, December 31, Raw materials $ 9,217,444 $ 11,491,555 Work in progress 199,521 — Finished goods 1,469,568 832,462 Total $ 10,886,533 $ 12,324,017
Schedule of Net Loss Per Share	The following table presents the reconciliation of the numerator and denominator for calculating net loss per share: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Numerator: Net loss $ (14,043,068 ) $ (16,963,699 ) $ (34,142,039 ) $ (47,321,599 ) Accretion of Series D 8% Convertible Preferred Stock to redemption value (118,194 ) — (118,194 ) — Net loss attributable to common shareholders (14,161,262 ) (16,963,699 ) (34,260,233 ) (47,321,599 ) Denominator Weighted average common shares outstanding - basic and diluted 8,954,919 2,247,818 7,741,214 2,042,891 Net loss per common share - basic and diluted $ (1.58 ) $ (7.55 ) $ (4.43 ) $ (23.16 )
Schedule of Outstanding Employee Equity Plans	During the three and nine months ended September 30, 2023 and 2022, the Company excluded the outstanding Employee Equity Plans (“EEP”) and other securities summarized below calculated using the Treasury Stock Method for options and other instruments and the If-Converted Method for convertible notes, 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. Three Months Ended Nine Months Ended 2023 2022 2023 2022 Options and other instruments under the 2012, 2015, 2018, and 2022 Plans to purchase common stock — 23,734 — 45,820 Conversion of convertible notes, if-converted method 59,440 86,809 59,440 42,556 Total 59,440 110,543 59,440 88,376

Property and Equipment (Tables)

Property and Equipment (Tables)	9 Months Ended
	Sep. 30, 2023
Property and Equipment [Abstract]
Schedule of Property and Equipment	As of September 30, 2023 and December 31, 2022, the Company’s property and equipment consisted of the following: September 30, December 31, Land $ 4,743,526 $ 4,743,526 Buildings 8,006,474 8,006,474 Machinery and equipment 9,949,028 8,443,047 Fixed assets in process 413,847 8,569,163 Leasehold improvements 7,725,469 1,193,771 FUV fleet 750,902 1,089,888 FUV rental fleet 1,949,037 2,646,379 Computer equipment and software 226,915 226,915 Vehicles 681,316 748,707 Furniture and fixtures 52,007 52,007 Total property and equipment 34,498,521 35,719,877 Less: Accumulated depreciation (7,382,290 ) (5,897,083 ) Total $ 27,116,231 $ 29,822,794

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2023
Intangible Assets [Abstract]
Schedule of Intangible Assets	The following table summarizes the Company’s intangible assets: September 30, 2023 Estimated Gross Carrying Accumulated Net Book Value Tradename and trademarks 14 $ 2,052,000 $ (383,437 ) $ 1,668,563 Proprietary technology 13 7,010,000 (1,431,529 ) 5,578,471 Customer relationships 10 1,586,000 (421,045 ) 1,164,955 $ 10,648,000 $ (2,236,011 ) $ 8,411,989 December 31, 2022 Estimated Gross Carrying Accumulated Net Book Value Tradename and trademarks 14 $ 2,052,000 $ (273,508 ) $ 1,778,492 Proprietary technology 13 7,010,000 (1,027,107 ) 5,982,893 Customer relationships 10 1,586,000 (302,095 ) 1,283,905 $ 10,648,000 $ (1,602,710 ) $ 9,045,290

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2023
Leases (Tables) [Line Items]
Schedule of Components of Operating Lease Expense	The components of operating lease expense recorded in the condensed consolidated statements of operations were as follows: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Operating lease cost $ 167,517 $ 193,018 $ 559,133 $ 548,997 Short-term lease cost 4,265 52,631 71,762 104,882 Total lease cost $ 171,782 $ 245,649 $ 630,895 $ 653,879
Schedule of Right of Use Assets and Lease Liabilities for Operating Leases	Right of use assets and lease liabilities for operating leases were recorded in the condensed consolidated balance sheets as follows: September 30, December 31, Operating lease right-of-use assets $ 821,065 $ 1,336,826 Operating lease liabilities, current $ 505,548 $ 666,542 Operating lease liabilities, long-term 366,871 744,142 Total operating lease liabilities $ 872,419 $ 1,410,684
Schedule of Supplemental Cash Flow Information	Supplemental cash flow information related to the Company’s operating leases was as follows: Nine Months Ended 2023 2022 Cash paid for amounts included in the measurement of operating lease liabilities $ 605,495 $ 554,751
Schedule of Right of Use Assets and Lease Liabilities for Finance Leases	Right of use assets and lease liabilities for finance leases were recorded in the condensed consolidated balance sheets as follows: September 30, December 31, Property and equipment, net $ 2,937,313 $ 2,672,177 Finance lease liabilities, current $ 394,157 $ 441,523 Finance lease liabilities, long-term 960,838 858,488 Total finance lease liabilities $ 1,354,995 $ 1,300,011
Schedule of Supplemental Cash Flow Information	Supplemental cash flow information related to the Company’s finance leases was as follows: Nine Months Ended 2023 2022 Operating cash flows from finance leases $ (63,395 ) $ (46,127 ) Financing cash flows from finance leases $ (412,007 ) $ (305,296 )
Schedule of Amortization and Interest Expense Information	Amortization and interest expense information related to the Company’s finance leases was as follows: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Amortization expense $ 84,615 $ 57,403 $ 242,270 $ 152,508 Interest expense $ 20,921 $ 16,148 $ 63,395 $ 46,127
Operating Leases [Member]
Leases (Tables) [Line Items]
Schedule of Future Minimum Lease Payments	As of September 30, 2023, future minimum lease payments required under operating leases are as follows: 2023 (Remainder) $ 150,793 2024 511,786 2025 230,858 2026 58,433 Thereafter — Total minimum lease payments 951,870 Less: imputed interest (79,451 ) Total $ 872,419
Finance Leases [Member]
Leases (Tables) [Line Items]
Schedule of Future Minimum Lease Payments	As of September 30, 2023, future minimum lease payments required under finance leases are as follows: 2023 (Remainder) $ 115,887 2024 463,547 2025 463,547 2026 327,444 2027 110,937 Thereafter 18,490 Total minimum lease payments $ 1,499,852 Less: imputed interest (144,857 ) Total $ 1,354,995

Stock-Based Payments (Tables)

Stock-Based Payments (Tables)	9 Months Ended
	Sep. 30, 2023
Stock-Based Payments [Abstract]
Schedule of Compensation, Including Stock Options, Warrants and Stock Issued for Compensation and Services	Stock-based compensation, including stock options, warrants and stock issued for compensation and services is included in the unaudited condensed consolidated statements of operations as follows: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Cost of goods sold $ 245,026 $ 453,978 $ 894,626 $ 1,425,055 Research and development 110,724 275,290 421,570 897,866 Sales and marketing 188,395 314,967 625,271 1,004,621 General and administrative 111,676 505,772 789,394 1,445,595 Total $ 655,821 $ 1,550,007 $ 2,730,861 $ 4,773,137

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Schedule of Financial Information Used by the CODM	The following tables disclose the financial information used by the CODM in allocating the Company’s resources. For the Three Months Ended September 30, 2023 September 30, 2022 FUV Rental TMW Total FUV Rental TMW Total Revenues $ 879,473 $ 64,618 $ 166,160 $ 1,110,251 $ 1,675,428 $ 145,470 $ 203,307 $ 2,024,205 Operating loss (7,268,731 ) (176,051 ) (180,994 ) (7,625,776 ) (17,795,421 ) (636,466 ) (485,946 ) (18,917,833 ) Financing costs 16,583,349 — Unrealized (gain) loss on convertible note, mortgage loan, warrants and derivatives fair value (10,979,457 ) (2,122,828 ) Interest expense, net 715,613 84,945 Other (income) expense, net 97,787 83,749 Income tax (expense) — — Net loss $ (14,043,068 ) $ (16,963,699 ) For the Nine Months Ended September 30, 2023 September 30, 2022 FUV Rental TMW Total FUV Rental TMW Total Revenues $ 3,515,136 $ 161,485 $ 547,504 $ 4,224,125 $ 3,205,783 $ 211,786 $ 756,210 $ 4,173,779 Operating loss (21,228,188 ) (609,323 ) (552,211 ) (22,389,722 ) (44,139,916 ) (1,576,960 ) (1,307,407 ) (47,024,283 ) Financing costs 21,827,173 — Unrealized (gain) loss on convertible note, mortgage loan, warrants and derivatives fair value (14,148,595 ) 22,712 Interest expense, net 1,027,399 258,851 Loss on debt extinguishment 2,925,610 — Other (income) expense, net 113,688 12,553 Income tax (expense) (7,042 ) (3,200 ) Net loss $ (34,142,039 ) $ (47,321,599 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of Financial Liabilities Measured at Fair Value On a Recurring Basis	The following table sets forth our financial liabilities as of September 30, 2023 and December 31, 2022 that are measured at fair value on a recurring basis during the period (in thousands): September 30, 2023 Fair Value Level 1 Level 2 Level 3 Warrant liabilities $ 10,297 $ - $ 10,297 $ - Derivative liabilities 3,434 - 3,434 - Convertible notes 4,524 - 4,524 - Mortgage loan 7,039 - 7,039 - Total $ 25,294 $ - $ 25,294 $ - December 31, 2022 Fair Value Level 1 Level 2 Level 3 Warrant liabilities $ 374 $ - $ 374 $ - Derivative liabilities - - - - Convertible notes 10,527 - 10,527 - Mortgage loan - - - - Total $ 10,901 $ - $ 10,901 $ -

Nature of Operations (Details)

Nature of Operations (Details)	Feb. 17, 2023 USD ($)
Arcimoto, Inc [Member] | Secured Debt [Member]
Nature of Operations [Line Items]
Loan secured amount	$ 6,000,000

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - USD ($)

1 Months Ended

3 Months Ended

9 Months Ended

Aug. 15, 2023

Feb. 17, 2023

Oct. 04, 2022

Jun. 30, 2023

May 31, 2023

Jan. 18, 2023

Sep. 30, 2023

Sep. 30, 2022

Sep. 30, 2023

Sep. 30, 2022

Feb. 09, 2024

Aug. 31, 2023

Aug. 17, 2023

Dec. 31, 2022

Jan. 14, 2022

Summary of Significant Accounting Policies [Line Items]

Reverse stock split

1-for-20

Offering amount

$ 100,000,000

Equity distribution, maximum amount

$ 50,000,000

Percentage of offering price

50%

Deferred offering costs

$ 2,300,000

Accounts receivable

$ 849,000

$ 849,000

$ 1,280,000

Labor and overhead expense

$ 1,763,000

$ 4,289,000

$ 5,219,000

$ 11,362,000

Minimum [Member]

Summary of Significant Accounting Policies [Line Items]

Intangible assets amortized useful life

10 years

10 years

Maximum [Member]

Summary of Significant Accounting Policies [Line Items]

Intangible assets amortized useful life

14 years

14 years

Equity Line of Credit [Member]

Summary of Significant Accounting Policies [Line Items]

Debt instrument, face amount

$ 6,000,000

Debt instrument, unamortized discount, total

600,000

Debt instrument, interest rate, stated percentage

20%

0%

Debt instrument, fee amount of extension

$ 300,000

Equity Line of Credit [Member]

Summary of Significant Accounting Policies [Line Items]

Proceeds from Issuance of Private Placement

$ 12,000,000

Series D Convertible Preferred Stock [Member]

Summary of Significant Accounting Policies [Line Items]

Deferred offering costs

$ 4,200,000

Cumulative dividends rate

8%

Forecast [Member]

Summary of Significant Accounting Policies [Line Items]

Accounts payable balance

$ 9,500,000

Related Party [Member]

Summary of Significant Accounting Policies [Line Items]

Loan received

$ 500,000

Related Party [Member] | Equity Line of Credit [Member]

Summary of Significant Accounting Policies [Line Items]

Debt instrument, fee amount of extension

$ 250,000

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - Schedule of Inventory - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Schedule of Inventory [Abstract]
Raw materials	$ 9,217,444	$ 11,491,555
Work in progress	199,521
Finished goods	1,469,568	832,462
Total	$ 10,886,533	$ 12,324,017

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Details) - Schedule of Net Loss Per Share - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Numerator:
Net loss	$ (14,043,068)	$ (16,963,699)	$ (34,142,039)	$ (47,321,599)
Accretion of Series D 8% Convertible Preferred Stock to redemption value	(118,194)		(118,194)
Net loss attributable to common shareholders	$ (14,161,262)	$ (16,963,699)	$ (34,260,233)	$ (47,321,599)
Denominator
Weighted average common shares outstanding - basic (in Shares)	8,954,919	2,247,818	7,741,214	2,042,891
Net loss per common share - basic (in Dollars per share)	$ (1.58)	$ (7.55)	$ (4.43)	$ (23.16)

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Details) - Schedule of Net Loss Per Share (Parentheticals) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Schedule of Net Loss Per Share [Abstract]
Accretion of Series D Convertible Preferred Stock to redemption			8%
Weighted average common shares outstanding - diluted	8,954,919	2,247,818	7,741,214	2,042,891
Net loss per common share - diluted	$ (1.58)	$ (7.55)	$ (4.43)	$ (23.16)

Summary of Significant Accoun_7

Summary of Significant Accounting Policies (Details) - Schedule of Outstanding Employee Equity Plans - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities	59,440	110,543	59,440	88,376
Options and other instruments under the 2012, 2015, 2018, and 2022 Plans to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities		23,734		45,820
Conversion of convertible notes, if-converted method
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities	59,440	86,809	59,440	42,556

Property and Equipment (Details

Property and Equipment (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Property and Equipment [Abstract]
Depreciation expenses	$ 629,000	$ 767,000	$ 2,010,000	$ 2,074,000

Property and Equipment (Detai_2

Property and Equipment (Details) - Schedule of Property and Equipment - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Schedule of Property and Equipment [Abstract]
Total property and equipment	$ 34,498,521	$ 35,719,877
Less: Accumulated depreciation	(7,382,290)	(5,897,083)
Total	27,116,231	29,822,794
Land [Member]
Schedule of Property and Equipment [Abstract]
Total property and equipment	4,743,526	4,743,526
Buildings [Member]
Schedule of Property and Equipment [Abstract]
Total property and equipment	8,006,474	8,006,474
Machinery and equipment [Member]
Schedule of Property and Equipment [Abstract]
Total property and equipment	9,949,028	8,443,047
Fixed assets in process [Member]
Schedule of Property and Equipment [Abstract]
Total property and equipment	413,847	8,569,163
Leasehold improvements [Member]
Schedule of Property and Equipment [Abstract]
Total property and equipment	7,725,469	1,193,771
FUV fleet [Member]
Schedule of Property and Equipment [Abstract]
Total property and equipment	750,902	1,089,888
FUV rental fleet [Member]
Schedule of Property and Equipment [Abstract]
Total property and equipment	1,949,037	2,646,379
Computer equipment and software [Member]
Schedule of Property and Equipment [Abstract]
Total property and equipment	226,915	226,915
Vehicles [Member]
Schedule of Property and Equipment [Abstract]
Total property and equipment	681,316	748,707
Furniture and fixtures [Member]
Schedule of Property and Equipment [Abstract]
Total property and equipment	$ 52,007	$ 52,007

Intangible Assets (Details)

Intangible Assets (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Intangible Assets [Abstract]
Amortization expense	$ 211,000	$ 208,000	$ 633,000	$ 629,000

Intangible Assets (Details) - S

Intangible Assets (Details) - Schedule of Intangible Assets - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 10,648,000	$ 10,648,000
Accumulated Amortization	(2,236,011)	(1,602,710)
Net Book Value	$ 8,411,989	$ 9,045,290
Tradename and trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (Years)	14 years	14 years
Gross Carrying Amount	$ 2,052,000	$ 2,052,000
Accumulated Amortization	(383,437)	(273,508)
Net Book Value	$ 1,668,563	$ 1,778,492
Proprietary technology [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (Years)	13 years	13 years
Gross Carrying Amount	$ 7,010,000	$ 7,010,000
Accumulated Amortization	(1,431,529)	(1,027,107)
Net Book Value	$ 5,578,471	$ 5,982,893
Customer relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (Years)	10 years	10 years
Gross Carrying Amount	$ 1,586,000	$ 1,586,000
Accumulated Amortization	(421,045)	(302,095)
Net Book Value	$ 1,164,955	$ 1,283,905

Customer Deposits (Details)

Customer Deposits (Details) - USD ($)	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Customer Deposits [Line Items]
Non-refundable deposits	$ 942,102	$ 962,346
Deposits	942,100	962,300
TMW Product Line [Member]
Customer Deposits [Line Items]
Refundable customer amount	74,000	112,000
Non-refundable deposits	21,100	51,400
Mean-Lean-Machine [Member]
Customer Deposits [Line Items]
Refundable customer amount	100
Non-refundable deposits	120,200	120,600
Retail Production Vehicles [Member]
Customer Deposits [Line Items]
Refundable customer amount	402,100	410,000
Non-refundable deposits	324,700	$ 268,300
Retail Production Vehicles [Member] | Minimum [Member]
Customer Deposits [Line Items]
Refundable customer amount	100
Non-refundable customer deposits	2,500
Retail Production Vehicles [Member] | Maximum [Member]
Customer Deposits [Line Items]
Refundable customer amount	500
Non-refundable customer deposits	$ 500

Mortgage Loan (Details)

Mortgage Loan (Details) - USD ($)	1 Months Ended	3 Months Ended	9 Months Ended
	Feb. 17, 2023	Sep. 30, 2023	Sep. 30, 2023	Jun. 30, 2023
Mortgage Loan [Line Items]
Borrower is receiving	$ 6,000,000
Retroactive reduction to repaid, percentage	0%
Prepayment fees	$ 600,000
Possibility of reduction	300,000
Other Receivables				$ 500,000
Facility costs	300,000
Additional fees	$ 600,000
Fair value yield measurement			10.71%
Unrealized loss on mortgage loan fair value			$ 336,194
Unrealized loss on mortgage loan			(1,038,511)
Financing costs			600,000
Mortgages [Member]
Mortgage Loan [Line Items]
Interest rate, stated percentage	20%
Retroactive reduction to repaid, percentage	10%
Upfront fee	$ 600,000
Mortage loan fee	300,000
Loan amount	$ 500,000
Unrealized loss on mortgage loan		$ 551,574
Fair value		$ 7,038,511	$ 7,038,511

Equipment Notes Payable (Detail

Equipment Notes Payable (Details) - USD ($)	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Equipment Notes Payable [Line Items]
Balance of equipment financing notes payable	$ 1,052,000	$ 1,351,000
Equipment Loans Payable [Member]
Equipment Notes Payable [Line Items]
Financed amount	1,936,000
Minimum [Member] | Notes Payable, Other Payables [Member]
Equipment Notes Payable [Line Items]
Monthly payments	$ 300
Repayment terms
Effective interest rate	9.90%
Maximum [Member] | Notes Payable, Other Payables [Member]
Equipment Notes Payable [Line Items]
Monthly payments	$ 12,000
Repayment terms	72 months
Effective interest rate	1.99%
Financing notes payable	$ 36,300

Leases (Details)

Leases (Details) - USD ($)	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Leases [Line Items]
Lease term for operating leases	1 year 11 months 1 day
Weighted-average incremental borrowing rate	8.80%
Balance of finance lease obligations	$ 1,354,995		$ 1,300,011
Effective interest rates	4.51%
Finance leases	$ 412,007	$ 305,296
Accumulated depreciation	$ 964,000
Repayment terms	3 years 4 months 6 days
Minimum [Member]
Leases [Line Items]
Balance of finance lease obligations	$ 1,600
Repayment terms	48 months
Effective interest rates	2.67%
Maximum [Member]
Leases [Line Items]
Balance of finance lease obligations	$ 14,000
Repayment terms	60 months
Effective interest rates	7.44%
Finance Leases [Member]
Leases [Line Items]
Balance of finance lease obligations	$ 1,867,000
Secured underlying assets	3,901,000
Lease Agreements [Member]
Leases [Line Items]
Finance leases	$ 39,000

Leases (Details) - Schedule of

Leases (Details) - Schedule of Components of Operating Lease Expense - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Schedule of the Components of Operating Lease Expense [Abstract]
Operating lease cost	$ 167,517	$ 193,018	$ 559,133	$ 548,997
Short-term lease cost	4,265	52,631	71,762	104,882
Total lease cost	$ 171,782	$ 245,649	$ 630,895	$ 653,879

Leases (Details) - Schedule o_2

Leases (Details) - Schedule of Right of Use Assets and Lease Liabilities for Operating Leases - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Schedule of Right of Use Assets and Lease Liabilities for Operating Leases [Abstract]
Operating lease right-of-use assets	$ 821,065	$ 1,336,826
Operating lease liabilities, current	505,548	666,542
Operating lease liabilities, long-term	366,871	744,142
Total operating lease liabilities	$ 872,419	$ 1,410,684

Leases (Details) - Schedule o_3

Leases (Details) - Schedule of Supplemental Cash Flow Information - USD ($)	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Schedule of Supplemental Cash Flow Information [Abstract]
Cash paid for amounts included in the measurement of operating lease liabilities	$ 605,495	$ 554,751

Leases (Details) - Schedule o_4

Leases (Details) - Schedule of Future Minimum Lease Payments - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Schedule Of Future Minimum Lease Payments [Abstract]
2023 (Remainder)	$ 150,793
2024	511,786
2025	230,858
2026	58,433
Thereafter
Total minimum lease payments	951,870
Less: imputed interest	(79,451)
Total	$ 872,419	$ 1,410,684

Leases (Details) - Schedule o_5

Leases (Details) - Schedule of Right of Use Assets and Lease Liabilities for Finance Leases - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Schedule of Right of Use Assets and Lease Liabilities for Finance Leases [Abstract]
Property and equipment, net	$ 2,937,313	$ 2,672,177
Finance lease liabilities, current	394,157	441,523
Finance lease liabilities, long-term	960,838	858,488
Total finance lease liabilities	$ 1,354,995	$ 1,300,011

Leases (Details) - Schedule o_6

Leases (Details) - Schedule of Supplemental Cash Flow Information - USD ($)	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Schedule of Supplemental Cash Flow Information Relates Finance Lease [Abstract]
Operating cash flows from finance leases	$ (63,395)	$ (46,127)
Financing cash flows from finance leases	$ (412,007)	$ (305,296)

Leases (Details) - Schedule o_7

Leases (Details) - Schedule of Amortization and Interest Expense Information - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Schedule of Amortization and Interest Expense Information [Abstract]
Amortization expense	$ 84,615	$ 57,403	$ 242,270	$ 152,508
Interest expense	$ 20,921	$ 16,148	$ 63,395	$ 46,127

Leases (Details) - Schedule o_8

Leases (Details) - Schedule of Future Minimum Lease Payments - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Schedule of Future Minimum Lease Payments [Abstract]
2023 (Remainder)	$ 115,887
2024	463,547
2025	463,547
2026	327,444
2027	110,937
Thereafter	18,490
Total minimum lease payments	1,499,852
Less: imputed interest	(144,857)
Total	$ 1,354,995	$ 1,300,011

Convertible Notes (Details)

Convertible Notes (Details) - USD ($)				3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 01, 2022	Apr. 25, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Jan. 23, 2023	Dec. 31, 2022
Convertible Notes [Line Items]
Market value				$ 4,500,000		$ 4,500,000
Expected term						3 years 6 months 25 days
Risk free interest rate						4.69%
Volatility rate percentage						111.91%
Stock price (in Dollars per share)				$ 0.84		$ 0.84
Risk premium						9.48%
Unrealized (loss) gain					$ (1,925,190)
Long-term liability				$ 4,523,580		$ 4,523,580			$ 4,887,690
Convertible Note, payable				4,524		$ 4,524			10,527
Shares of warrant (in Shares)						650,000
Warrant exercise price (in Dollars per share)						$ 1.5
Net proceeds							$ 13,900,000
Unrealized (loss) gain				0
Convertible debt									5,639,231
Unrealized (loss) gain						(2,925,610)
Warrant liabilities				$ 3,434		$ 3,434
Warrant [Member]
Convertible Notes [Line Items]
Expected term						5 years
Risk free interest rate						4.30%
Stock price volatility						111.09%
Warrant [Member] | Measurement Input, Expected Dividend Rate [Member]
Convertible Notes [Line Items]
Unrealized loss				9		9
Warrants in Connection with Securities Purchase Agreement [Member]
Convertible Notes [Line Items]
Warrants Fair Value		$ 598,670
Convertible Promissory Note [Member] | Ducera Investments LLC [Member]
Convertible Notes [Line Items]
Issued amount			$ 4,500,000
Accrued interest rate			10%
Debt instrument, term			5 years
Price per unit (in Dollars per share)				$ 140		$ 140
Pre reverse split (in Dollars per share)				7		7
Convertible Promissory Note [Member] | Ducera Investments LLC [Member] | Minimum [Member]
Convertible Notes [Line Items]
Price per unit (in Dollars per share)				86.6		86.6
Pre reverse split (in Dollars per share)				$ 4.33		$ 4.33
Senior Secured Convertible Note [Member]
Convertible Notes [Line Items]
Principal amount						$ 10,000,000
Original issue discount				$ 600,000		600,000
Unrealized (loss) gain						15,820
Carrying value								$ 2,925,610
Convertible debt									5,639,231
Debt [Member]
Convertible Notes [Line Items]
Unrealized (loss) gain				80,550		$ 364,110
Warrant [Member]
Convertible Notes [Line Items]
Expected term						5 years 6 months
Risk free interest rate						4.39%
Stock price volatility						112.20%
Securities Purchase Agreement [Member]
Convertible Notes [Line Items]
Price per unit (in Dollars per share)	$ 5				$ 5		$ 5
Convertible Note, payable				$ 10,000,000		$ 10,000,000
Principal amount						$ 20,000,000
Issuance of warrants						25,000
Issuance date						Sep. 01, 2022
Periodic installments						24
Interest rate	15%			6%	15%	6%	15%
Discount rate	(8.00%)
Convertible share of common stock						$ 200
Net proceeds						9,400,000
Debt issuance costs				$ 8,801,330		8,801,330
Other expense(income)				232,669		232,669
Unrealized (loss) gain				(418,663)		(50,440)
Securities Purchase Agreement [Member] | Warrant [Member]
Convertible Notes [Line Items]
Warrants issued				25,000		25,000
Fair value				598,670		598,670
Warrant liabilities				424,914		424,914			$ 374,474
Securities Purchase Agreement [Member] | Senior Secured Convertible Note [Member]
Convertible Notes [Line Items]
Convertible Note, payable				10,000,000		10,000,000
Nasdaq Stock Market LLC [Member]
Convertible Notes [Line Items]
Market value				$ 4,500,000		$ 4,500,000

Mezzanine Equity and Stockhol_2

Mezzanine Equity and Stockholders’ Equity (Details) - USD ($)				1 Months Ended	3 Months Ended		9 Months Ended		12 Months Ended
	Aug. 15, 2023	Jun. 12, 2023	Jan. 14, 2022	Jan. 18, 2023	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022	Aug. 14, 2023
Mezzanine Equity and Stockholders’ Equity (Details) [Line Items]
Preferred stock, shares authorized (in Shares)					1,491,534		1,491,534		1,491,534
Preferred stock, price per share (in Dollars per share)
Conversion price per share (in Dollars per share)					$ 1.2		$ 1.2
Conversion price					300%		300%
Conversion units (in Shares)					108,963
Original issue discount	20%
Preferred stock, shares issued (in Shares)
Preferred stock warrants (in Shares)							650,000
Expected term year							3 years 6 months 25 days
Risk free interest rate							4.69%
Preferred stock accreted to redemption value					$ (118,194)		$ (118,194)
Warrants					10,296,963		10,296,963		$ 374,474
Unrealized gain					3,196,088		3,196,088
Financing costs							4,365,786
Fair value of current liability					1,195,018		1,195,018
Fair value of long term liability					2,239,309		2,239,309
Excess of fair value					$ 16,283,349		16,283,349
Proceeds from exercise of stock options								$ 91,095
Proceeds from warrants exercised							$ 70	$ 20,000
Common shares issued (in Shares)					8,930,196		8,930,196		3,209,838
Transactions under sales agreement
Beneficial Ownership Limitations [Member]
Mezzanine Equity and Stockholders’ Equity (Details) [Line Items]
Ownership limitations rate					125%		125%
Preferred Stock [Member]
Mezzanine Equity and Stockholders’ Equity (Details) [Line Items]
Preferred stock, shares authorized to issued (in Shares)					5,000,000		5,000,000
Preferred stock, shares authorized (in Shares)					1,491,534		1,491,534
Conversion units (in Shares)					(104)		(104)
Preferred stock accreted to redemption value					$ 118,194		$ 118,194
Employee options (in Shares)
Common Stock [Member]
Mezzanine Equity and Stockholders’ Equity (Details) [Line Items]
Conversion units (in Shares)					108,963		108,963
Preferred stock accreted to redemption value
Employee options (in Shares)						223		2,201
Warrant [Member]
Mezzanine Equity and Stockholders’ Equity (Details) [Line Items]
Expected term year							5 years
Risk free interest rate							4.30%
Stock price volatility							111.09%
Warrant exercise price per share (in Dollars per share)					$ 1.5		$ 1.5
Warrants					$ 9,618,708		$ 9,618,708
Shortterm debt fair value					5,930,349		5,930,349
Warrant [Member] | Common Stock [Member]
Mezzanine Equity and Stockholders’ Equity (Details) [Line Items]
Share Issued (in Shares)	14,110,835
IPO [Member]
Mezzanine Equity and Stockholders’ Equity (Details) [Line Items]
Initial public offering raising					$ 15,000,000		15,000,000
Derivative [Member]
Mezzanine Equity and Stockholders’ Equity (Details) [Line Items]
Financing costs							2,264,629
2023 Purchase Agreements [Member]
Mezzanine Equity and Stockholders’ Equity (Details) [Line Items]
Shares of common stock (in Shares)				4,000,000
Gross proceeds							12,000,000
Fees and other expenses							11,000,000
Net proceeds offering to repay							$ 7,500,000
2023 Purchase Agreements [Member] | Common Stock [Member]
Mezzanine Equity and Stockholders’ Equity (Details) [Line Items]
Shares of common stock (in Shares)				3,300,000
Price per share (in Dollars per share)				$ 3	$ 3		$ 3
Fair value				$ 7,951,393			$ 2,055,008
2023 Purchase Agreements [Member] | Warrant [Member]
Mezzanine Equity and Stockholders’ Equity (Details) [Line Items]
Warrant exercise price per share (in Dollars per share)					0.0001		$ 0.0001
Shares of common stock (in Shares)				700,000
Price per share (in Dollars per share)					$ 2.9999		$ 2.9999
Fair value				$ 1,735,941
2023 Purchase Agreements [Member] | Pre-Funded Warrants [Member]
Mezzanine Equity and Stockholders’ Equity (Details) [Line Items]
Unrealized gain					$ 2,194,743		$ 5,896,385
2023 Second Purchase Agreements [Member]
Mezzanine Equity and Stockholders’ Equity (Details) [Line Items]
Shares of common stock (in Shares)		1,467,648
Fair value		$ 3,906,366					1,842,282
Gross proceeds							2,500,000
Fees and other expenses							2,300,000
Net proceeds offering to repay							250,000
Placement agent a cash fees							$ 275,000
2023 Second Purchase Agreements [Member] | Common Stock [Member]
Mezzanine Equity and Stockholders’ Equity (Details) [Line Items]
Price per share (in Dollars per share)		$ 1.7
Fees and other expenses								$ 26,493,094
Payment of aggregate purchase price rate							5%
2023 Second Purchase Agreements [Member] | Warrant [Member]
Mezzanine Equity and Stockholders’ Equity (Details) [Line Items]
Shares of common stock (in Shares)		2,935,296
Price per share (in Dollars per share)		$ 1.75
2023 Second Purchase Agreements [Member] | Placement Agent warrants [Member]
Mezzanine Equity and Stockholders’ Equity (Details) [Line Items]
Warrant exercise price per share (in Dollars per share)					$ 1.87		$ 1.87
Unrealized gain					$ 1,686,806		$ 2,108,424
Financing costs							$ 1,404,374
Shares of common stock (in Shares)							73,529
Fair value		$ 95,740					$ 44,410
Payment of aggregate purchase price rate							5%
Common shares issued (in Shares)					1,467,648		1,467,648
Fair value							$ 2,362,914
Equity Distribution Agreement [Member]
Mezzanine Equity and Stockholders’ Equity (Details) [Line Items]
Shares of common stock (in Shares)						188,664		391,985
Equity Distribution Agreement [Member] | Common Stock [Member]
Mezzanine Equity and Stockholders’ Equity (Details) [Line Items]
Shares of common stock (in Shares)			100,000,000
Equity Incentive Plan [Member]
Mezzanine Equity and Stockholders’ Equity (Details) [Line Items]
Employee options (in Shares)						223		2,202
Exercise price (in Dollars per share)						$ 34.24		$ 34.2
Proceeds from exercise of stock options						$ 7,636
Exercise prices ranging (in Dollars per share)								50
Equity Incentive Plan [Member] | Common Stock [Member]
Mezzanine Equity and Stockholders’ Equity (Details) [Line Items]
Purchase up to shares of common stock (in Shares)							1,848,241		378,296
Common stock reserve (in Shares)							348,241		278,296
Equity Incentive Plan [Member] | Warrant [Member]
Mezzanine Equity and Stockholders’ Equity (Details) [Line Items]
Warrant exercise price per share (in Dollars per share)						$ 50		$ 50
Common stock reserve (in Shares)									25,000
Proceeds from warrants exercised								$ 20,000
Equity Incentive Plan [Member] | Restricted Stock [Member]
Mezzanine Equity and Stockholders’ Equity (Details) [Line Items]
Restricted stock units vested of common shares (in Shares)					15,336		20,136	460
Minimum [Member]
Mezzanine Equity and Stockholders’ Equity (Details) [Line Items]
Price per share (in Dollars per share)						28.8		$ 28.8
Minimum [Member] | Equity Distribution Agreement [Member]
Mezzanine Equity and Stockholders’ Equity (Details) [Line Items]
Price per share (in Dollars per share)						28.8		28.8
Maximum [Member] | 2023 Second Purchase Agreements [Member]
Mezzanine Equity and Stockholders’ Equity (Details) [Line Items]
Price per share (in Dollars per share)						$ 143.6		143.6
Fair Value [Member] | Warrant [Member]
Mezzanine Equity and Stockholders’ Equity (Details) [Line Items]
Expected term year							4 years 10 months 17 days
Risk free interest rate							4.60%
Stock price volatility							113.57%
Unrealized gain					$ 3,688,359		$ 3,688,359
2023 Third Purchase Agreements [Member] | Common Stock [Member]
Mezzanine Equity and Stockholders’ Equity (Details) [Line Items]
Conversion price per share (in Dollars per share)	$ 1.2
Series A-1 Preferred Stock [Member]
Mezzanine Equity and Stockholders’ Equity (Details) [Line Items]
Preferred stock, shares authorized (in Shares)					1,500,000		1,500,000
Class C Preferred Stock [Member]
Mezzanine Equity and Stockholders’ Equity (Details) [Line Items]
Preferred stock, shares authorized (in Shares)					2,000,000		2,000,000		2,000,000
Preferred stock, price per share (in Dollars per share)
Preferred stock, shares issued (in Shares)
Series D Preferred Stock [Member]
Mezzanine Equity and Stockholders’ Equity (Details) [Line Items]
Preferred stock, shares authorized (in Shares)										8,466
Preferred stock, price per share (in Dollars per share)	$ 1,000									$ 1,000
Cumulative dividends rate					8%		8%
Shareholders distribution rate					100%		100%
Conversion units (in Shares)					104
Preferred stock, stated value	$ 8,471,000
Fair value of preferred stock							$ 4,418,015
Issuance costs							158,787
Carrying value							4,259,228
Preferred stock accreted to redemption value							4,377,422
Additional paid in capital					$ 118,194		$ 118,194
Series D Preferred Stock [Member] | Fair Value [Member]
Mezzanine Equity and Stockholders’ Equity (Details) [Line Items]
Expected term year							1 year 10 months 24 days
Risk free interest rate							4.97%
Risk adjusted rate							30%
Stock price volatility							117.25%
Series D Preferred Stock [Member] | 2023 Third Purchase Agreements [Member]
Mezzanine Equity and Stockholders’ Equity (Details) [Line Items]
Preferred stock, shares authorized (in Shares)	8,471
Convertible preferred stock percentage	8%
Convertible aggregate shares (in Shares)	1,760,298
Series D Convertible Preferred Stock [Member]
Mezzanine Equity and Stockholders’ Equity (Details) [Line Items]
Convertible preferred stock, shares issued (in Shares)					5,542		5,542
Convertible preferred stock, shares outstanding (in Shares)					5,542		5,542
Convertible preferred stock percentage					8%		8%		8%
Sales Agreement [Member[ | 2023 Second Purchase Agreements [Member] | Common Stock [Member]
Mezzanine Equity and Stockholders’ Equity (Details) [Line Items]
Fees and other expenses						$ 10,177,356
Sales Agreement [Member[ | Maximum [Member]
Mezzanine Equity and Stockholders’ Equity (Details) [Line Items]
Price per share (in Dollars per share)						$ 67		$ 67
Tranches [Member] | 2023 Third Purchase Agreements [Member]
Mezzanine Equity and Stockholders’ Equity (Details) [Line Items]
Gross proceeds	$ 4,300,002
Net proceeds	$ 4,225,002
Tranches [Member] | Series D Preferred Stock [Member] | 2023 Third Purchase Agreements [Member]
Mezzanine Equity and Stockholders’ Equity (Details) [Line Items]
Preferred stock, shares issued (in Shares)	269				5,646		5,646
Preferred stock warrants (in Shares)	448,334

Stock-Based Payments (Details)

Stock-Based Payments (Details) - USD ($)					3 Months Ended		9 Months Ended
	Jun. 16, 2023	Jun. 11, 2021	Apr. 20, 2020	Jun. 09, 2018	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Jul. 29, 2022
Stock-Based Payments [Line Items]
Number of shares available for issuance	1,600,000
Aggregate number of shares issued							100,000
Stock-based compensation expense (in Dollars)							$ 258,923
Stock-based compensation expense (in Dollars)						$ 1,548,773	$ 2,470,263
Granted Shares								23,690
Fair value grant (in Dollars)						7,636		$ 91,095
Risk free interest rate							4.69%
Two Thousand Twenty Two Omnibus Stock Incentive Plan [Member]
Stock-Based Payments [Line Items]
Aggregate shares									100,000
Stock-based compensation expense (in Dollars)					$ 0
2018 Omnibus Stock Incentive Plan [Member]
Stock-Based Payments [Line Items]
Options authorized				50,000
Additional shares of common stock							50,000
Common stock shares							220,489
Stock-based compensation expense (in Dollars)					$ 655,821			$ 4,750,995
Granted Shares								108,303
Fair value grant (in Dollars)								$ 6,162,000
Year expected term					6 years 1 month 6 days		6 years 1 month 6 days
Risk free interest rate							2.20%
Dividend yield rate							0%
Stock price volatility rate							60.97%
Grant date fair value (in Dollars)						1,514,000		1,514,000
Total compensation cost (in Dollars)					$ 2,666,461		$ 2,666,461
2015 Stock Incentive Plan [Member]
Stock-Based Payments [Line Items]
Stock-based compensation expense (in Dollars)					$ 0		$ 1,675
Stock-based compensation expense (in Dollars)						$ 1,234		$ 22,142
Common stock authorized					50,000		50,000
Shares of common stock					25,688		25,688
Minimum [Member] | 2018 Omnibus Stock Incentive Plan [Member]
Stock-Based Payments [Line Items]
Shares issued		200,000	100,000
Maximum [Member] | 2018 Omnibus Stock Incentive Plan [Member]
Stock-Based Payments [Line Items]
Common share purchase		300,000	200,000

Stock-Based Payments (Details)

Stock-Based Payments (Details) - Schedule of Compensation, Including Stock Options, Warrants and Stock Issued for Compensation and Services - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	$ 655,821	$ 1,550,007	$ 2,730,861	$ 4,773,137
Cost of goods sold [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	245,026	453,978	894,626	1,425,055
Research and development [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	110,724	275,290	421,570	897,866
Sales and marketing [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	188,395	314,967	625,271	1,004,621
General and administrative [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	$ 111,676	$ 505,772	$ 789,394	$ 1,445,595

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	Sep. 01, 2023	Jun. 12, 2023	Jun. 11, 2023	May 26, 2023	Apr. 25, 2022
Related Party Transactions [Line Items]
Partial amount repaid with cash		$ 250,000
Issuance shares of common stock (in Shares)		201,863
Legal fees and expenses	$ 67,000
Promissory Note[Member]
Related Party Transactions [Line Items]
Fixed interest amount				$ 75,000
Principal amount			$ 500,000
Percentage of amount paid			50%
Promissory Note[Member] | Common Stock [Member]
Related Party Transactions [Line Items]
Percentage of amount paid			50%
Promissory Note[Member] | Director [Member]
Related Party Transactions [Line Items]
Issued promissory note				$ 500,000
Ducera Investment LLC [Member] | Director [Member]
Related Party Transactions [Line Items]
Equity offering raise in excess of principal amount		$ 500,000
Ducera Investment LLC [Member] | Convertible Promissory Notes [Member]
Related Party Transactions [Line Items]
Issued convertible promissory note					$ 4,500,000

Segment Reporting (Details) - S

Segment Reporting (Details) - Schedule of Financial Information Used by the CODM - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting Information [Line Items]
Revenues	$ 1,110,251	$ 2,024,205	$ 4,224,125	$ 4,173,779
Operating loss	(7,625,776)	(18,917,833)	(22,389,722)	(47,024,283)
Financing costs	16,583,349		21,827,173
Unrealized (gain) loss on convertible note, mortgage loan, warrants and derivatives fair value	(10,979,457)	(2,122,828)	(14,148,595)	22,712
Interest expense, net	715,613	84,945	1,027,399	258,851
Loss on debt extinguishment			2,925,610
Other (income) expense, net	97,787	83,749	113,688	12,553
Income tax (expense)			(7,042)	(3,200)
Net loss	(14,043,068)	(16,963,699)	(34,142,039)	(47,321,599)
FUV [Member]
Segment Reporting Information [Line Items]
Revenues	879,473	1,675,428	3,515,136	3,205,783
Operating loss	(7,268,731)	(17,795,421)	(21,228,188)	(44,139,916)
Rental [Member]
Segment Reporting Information [Line Items]
Revenues	64,618	145,470	161,485	211,786
Operating loss	(176,051)	(636,466)	(609,323)	(1,576,960)
TMW [Member]
Segment Reporting Information [Line Items]
Revenues	166,160	203,307	547,504	756,210
Operating loss	$ (180,994)	$ (485,946)	$ (552,211)	$ (1,307,407)

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Unrealized gain fair value	$ 10,979,457	$ 2,122,828	$ 14,148,595	$ (22,712)

Fair Value Measurements (Deta_2

Fair Value Measurements (Details) - Schedule of Financial Liabilities Measured at Fair Value on a Recurring Basis - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Schedule of Financial Liabilities Measured at Fair Value On a Recurring Basis [Line Items]
Warrant liabilities	$ 10,297	$ 374
Derivative liabilities	3,434
Convertible notes	4,524	10,527
Mortgage loan	7,039
Total	25,294	10,901
Level 1 [Member]
Schedule of Financial Liabilities Measured at Fair Value On a Recurring Basis [Line Items]
Warrant liabilities
Derivative liabilities
Convertible notes
Mortgage loan
Total
Level 2 [Member]
Schedule of Financial Liabilities Measured at Fair Value On a Recurring Basis [Line Items]
Warrant liabilities	10,297	374
Derivative liabilities	3,434
Convertible notes	4,524	10,527
Mortgage loan	7,039
Total	25,294	10,901
Level 3 [Member]
Schedule of Financial Liabilities Measured at Fair Value On a Recurring Basis [Line Items]
Warrant liabilities
Derivative liabilities
Convertible notes
Mortgage loan
Total

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)		9 Months Ended
	Sep. 13, 2023	Sep. 30, 2023
DWFritz [Member]
Subsequent Events [Line Items]
Payment amount		$ 871,722
Highland Capital [Member]
Subsequent Events [Line Items]
Payment amount		255,799
Roush Industries [Member]
Subsequent Events [Line Items]
Payment amount	$ 553,052
Interest percentage	18%
Deutsche Leasing USA, Inc. [Member]
Subsequent Events [Line Items]
Payment amount		$ 521,792