Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2023 | Nov. 10, 2023 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001563568 | |
Entity Registrant Name | Envirotech Vehicles, Inc. | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2023 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2023 | |
Document Transition Report | false | |
Entity File Number | 001-38078 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 46-0774222 | |
Entity Address, Address Line One | 1425 Ohlendorf Road | |
Entity Address, City or Town | Osceola | |
Entity Address, State or Province | AR | |
Entity Address, Postal Zip Code | 72370 | |
City Area Code | 870 | |
Local Phone Number | 970-3355 | |
Title of 12(b) Security | Common Stock, par value $0.00001 per share | |
Trading Symbol | EVTV | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 15,106,088 |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 |
ASSETS | ||
Cash and cash equivalents | $ 879,042 | $ 2,765,068 |
Restricted cash | 0 | 60,399 |
Marketable securities | 0 | 2,336,402 |
Accounts receivable, net of allowance of $271,218 and $271,218, respectively | 1,624,369 | 2,073,691 |
Inventory, net | 6,882,247 | 5,671,326 |
Inventory deposits | 3,133,753 | 4,829,933 |
Prepaid expenses | 909,847 | 445,963 |
Other current assets | 162,695 | 156,457 |
Total current assets | 13,591,953 | 18,339,239 |
Property and equipment, net | 356,271 | 368,461 |
Goodwill | 11,290,491 | 14,682,620 |
Other non-current assets | 183,369 | 93,369 |
Total assets | 25,422,084 | 33,483,689 |
Current liabilities: | ||
Accounts payable | 739,236 | 603,744 |
Accrued liabilities | 411,323 | 652,528 |
Notes payable - current | 476,497 | 215,766 |
Total current liabilities | 1,627,056 | 1,472,038 |
Long-term liabilities | ||
Notes payable - long-term | 13,024 | 16,671 |
Total liabilities | 1,640,080 | 1,488,709 |
Stockholders’ equity (deficit): | ||
Preferred stock, 5,000,000 authorized, $0.00001 par value per share, none issued and outstanding as of September 30, 2023, and December 31, 2022 | 0 | 0 |
Common stock, 350,000,000 authorized, $0.00001 par value per share, 15,106,088 and 15,021,088 issued and outstanding as of September 30, 2023, and December 31, 2022, respectively | 151 | 150 |
Additional paid-in capital | 85,220,733 | 83,923,350 |
Accumulated deficit | (61,438,880) | (51,928,520) |
Total stockholders’ equity | 23,782,004 | 31,994,980 |
Total liabilities and stockholders’ equity | $ 25,422,084 | $ 33,483,689 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 |
Allowance | $ 271,218 | $ 271,218 |
Preferred Stock, Shares Authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred stock, par value (in dollars per share) | $ 0.00001 | $ 0.00001 |
Preferred Stock, Shares Outstanding (in shares) | 0 | 0 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Common stock, shares authorized (in shares) | 350,000,000 | 350,000,000 |
Common stock, par value (in dollars per share) | $ 0.00001 | $ 0.00001 |
Common stock, shares issued (in shares) | 15,106,088 | 15,021,088 |
Common stock, shares outstanding (in shares) | 15,106,088 | 15,021,088 |
Consolidated Statements of Oper
Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Sales | $ 100,024 | $ 1,029,280 | $ 2,756,103 | $ 2,625,090 |
Cost of sales | 80,283 | 677,855 | 1,739,005 | 1,599,290 |
Gross profit | 19,741 | 351,425 | 1,017,098 | 1,025,800 |
Operating expenses | ||||
General and administrative | 2,578,727 | 1,584,973 | 6,785,405 | 6,113,957 |
Consulting | (13,312) | 94,187 | 207,930 | 264,505 |
Research and development | 46,734 | 25,000 | 175,546 | 112,412 |
Goodwill impairment charge | 3,392,129 | 0 | 3,392,129 | 0 |
Total operating expenses, net | 6,004,278 | 1,704,160 | 10,561,010 | 6,490,874 |
Loss from operations | (5,984,537) | (1,352,735) | (9,543,912) | (5,465,074) |
Other (expense)/income: | ||||
Interest (expense)/income, net | (2,647) | 30,200 | 43,455 | 37,956 |
Other expense | (1,239) | (1,233) | (9,903) | (10,094) |
Total other (expense)/income | (3,886) | 28,967 | 33,552 | 27,862 |
Loss before income taxes | (5,988,423) | (1,323,768) | (9,510,360) | (5,437,212) |
Income tax expense | 0 | 0 | 0 | 0 |
Net income loss | $ (5,988,423) | $ (1,323,768) | $ (9,510,360) | $ (5,437,212) |
Net loss per share to common stockholders: | ||||
Basic and diluted (in dollars per share) | $ (0.4) | $ (0.09) | $ (0.63) | $ (0.36) |
Weighted shares used in the computation of net loss per share: | ||||
Basic and diluted (in shares) | 15,068,208 | 15,013,236 | 15,036,967 | 14,981,836 |
Consolidated Statement of Stock
Consolidated Statement of Stockholders' Equity (Unaudited) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2021 | 14,912,178 | |||
Balance at Dec. 31, 2021 | $ 149 | $ 81,866,075 | $ (8,124,360) | $ 73,741,864 |
Stock based compensation | 0 | 1,614,845 | 0 | 1,614,845 |
Net loss | $ 0 | 0 | (2,936,862) | (2,936,862) |
Common stock issued for cash (in shares) | 50,000 | |||
Common stock issued for cash | $ 1 | 119,999 | 0 | 120,000 |
Common stock issued for lawsuit settlement (in shares) | 38,495 | |||
Common stock issued for lawsuit settlement | $ 0 | 197,431 | 0 | 197,431 |
Balance (in shares) at Mar. 31, 2022 | 15,000,673 | |||
Balance at Mar. 31, 2022 | $ 150 | 83,798,350 | (11,061,222) | 72,737,278 |
Balance (in shares) at Dec. 31, 2021 | 14,912,178 | |||
Balance at Dec. 31, 2021 | $ 149 | 81,866,075 | (8,124,360) | 73,741,864 |
Net loss | (5,437,212) | |||
Balance (in shares) at Sep. 30, 2022 | 15,021,088 | |||
Balance at Sep. 30, 2022 | $ 150 | 83,923,350 | (13,561,572) | 70,361,928 |
Balance (in shares) at Mar. 31, 2022 | 15,000,673 | |||
Balance at Mar. 31, 2022 | $ 150 | 83,798,350 | (11,061,222) | 72,737,278 |
Net loss | $ 0 | 0 | (1,176,582) | (1,176,582) |
Balance (in shares) at Jun. 30, 2022 | 15,000,673 | |||
Balance at Jun. 30, 2022 | $ 150 | 83,798,350 | (12,237,804) | 71,560,696 |
Net loss | $ 0 | 0 | (1,323,768) | (1,323,768) |
Common stock issued for lawsuit settlement (in shares) | 20,415 | |||
Common stock issued for lawsuit settlement | $ 0 | 125,000 | 0 | 125,000 |
Balance (in shares) at Sep. 30, 2022 | 15,021,088 | |||
Balance at Sep. 30, 2022 | $ 150 | 83,923,350 | (13,561,572) | 70,361,928 |
Balance (in shares) at Dec. 31, 2022 | 15,021,088 | |||
Balance at Dec. 31, 2022 | $ 150 | 83,923,350 | (51,928,520) | 31,994,980 |
Stock based compensation | 0 | 87,144 | 0 | 87,144 |
Net loss | $ 0 | 0 | (2,267,908) | (2,267,908) |
Balance (in shares) at Mar. 31, 2023 | 15,021,088 | |||
Balance at Mar. 31, 2023 | $ 150 | 84,010,494 | (54,196,428) | 29,814,216 |
Balance (in shares) at Dec. 31, 2022 | 15,021,088 | |||
Balance at Dec. 31, 2022 | $ 150 | 83,923,350 | (51,928,520) | 31,994,980 |
Net loss | (9,510,360) | |||
Balance (in shares) at Sep. 30, 2023 | 15,106,088 | |||
Balance at Sep. 30, 2023 | $ 151 | 85,220,733 | (61,438,880) | 23,782,004 |
Balance (in shares) at Mar. 31, 2023 | 15,021,088 | |||
Balance at Mar. 31, 2023 | $ 150 | 84,010,494 | (54,196,428) | 29,814,216 |
Stock based compensation | 0 | 105,166 | 0 | 105,166 |
Net loss | $ 0 | 0 | (1,254,029) | (1,254,029) |
Balance (in shares) at Jun. 30, 2023 | 15,021,088 | |||
Balance at Jun. 30, 2023 | $ 150 | 84,115,660 | (55,450,457) | 28,665,353 |
Stock based compensation | 0 | 1,105,074 | 0 | 1,105,074 |
Net loss | $ 0 | 0 | (5,988,423) | (5,988,423) |
Common stock issued for services (in shares) | 85,000 | |||
Common stock issued for services | $ 1 | (1) | 0 | 0 |
Balance (in shares) at Sep. 30, 2023 | 15,106,088 | |||
Balance at Sep. 30, 2023 | $ 151 | $ 85,220,733 | $ (61,438,880) | $ 23,782,004 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2023 | Mar. 31, 2023 | Sep. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | |
Cash flows from operating activities: | |||||||
Net loss | $ (5,988,423) | $ (2,267,908) | $ (1,323,768) | $ (2,936,862) | $ (9,510,360) | $ (5,437,212) | |
Adjustments to reconcile net loss to net cash used in operating activities: | |||||||
Depreciation and amortization | 93,737 | 56,700 | |||||
Unrealized loss (gain) on marketable securities | 9,903 | (6,033) | |||||
Stock based compensation expense | 1,297,384 | 1,614,845 | |||||
Goodwill impairment charge | 3,392,129 | 0 | 3,392,129 | 0 | |||
Changes in assets and liabilities: | |||||||
Accounts receivable | 449,322 | (1,956,906) | |||||
Inventory | (1,210,921) | (2,103,834) | |||||
Inventory deposits | 1,696,180 | (351,970) | |||||
Prepaid expenses | 3,190 | (377,107) | |||||
Other assets | (112,382) | 158,265 | |||||
Accounts payable | 90,272 | (76,919) | |||||
Accrued liabilities | (238,030) | (194,907) | |||||
Other liabilities | 0 | 403,328 | |||||
Net cash used in operating activities | (4,039,576) | (8,271,750) | |||||
Cash flows from investing activities: | |||||||
Purchase of property and equipment, net | (36,331) | (90,204) | |||||
Investment in marketable securities | 0 | (2,291,036) | |||||
Sale of marketable securities | 2,342,643 | 8,323,461 | |||||
Net cash provided by investing activities | 2,306,312 | 5,942,221 | |||||
Cash flows from financing activities: | |||||||
Proceeds from issuance of common stock | 0 | 120,000 | |||||
Principal repayments on debt | (213,161) | (13,766) | |||||
Net cash (used in) provided by financing activities | (213,161) | 106,234 | |||||
Net change in cash, restricted cash and cash equivalents | (1,946,425) | (2,223,295) | |||||
Cash, restricted cash and cash equivalents at the beginning of the period | $ 2,825,467 | $ 4,906,525 | 2,825,467 | 4,906,525 | $ 4,906,525 | ||
Cash, restricted cash and cash equivalents at the end of the period | $ 879,042 | $ 2,683,230 | 879,042 | 2,683,230 | $ 2,825,467 | ||
Supplemental cash flow disclosures: | |||||||
Cash paid for interest expense | 5,808 | 2,272 | |||||
Non-cash common stock issued for services | 1 | 0 | |||||
Non-cash common stock lawsuit settlement | $ 0 | $ 322,431 |
Note 1 - Organization and Opera
Note 1 - Organization and Operations | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | 1. Organization and Operations Envirotech Vehicles, Inc. (“we”, “us”, “our” or the “Company”) is a provider of purpose-built zero On February 22, 2022, On June 28, 2022, 1 no 10 |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 2. Summary of Significant Accounting Policies Basis of Presentation September 30, 2023 three nine September 30, 2023 December 31, 2022 2021 10 September 25, 2023. three nine September 30, 2023 not Principles of Consolidation 2021 Use of Estimates Fair Value of Financial Instruments No. 820, three Level 1: Level 2: Level 3: no The Company does not Revenue Recognition zero 606, September 30, 2023 One three September 30, 2023. Seven nine September 30, 2023. In applying ASC Topic 606, ( 1 identify any contracts with customers; ( 2 determine if multiple performance obligations exist; ( 3 determine the transaction price; ( 4 allocate the transaction price to the respective obligation; and ( 5 recognize the revenue as the obligation is satisfied. Product revenue includes the sale of electric trucks and cargo vans. These sales represent a single performance obligation and revenue is recognized when the vehicle is delivered and the customer has accepted the vehicle and signed the appropriate documentation acknowledging receipt of the vehicle. At this time, the title of the vehicle is transferred to the customer. Cash and Cash Equivalents three September 30, 2023 December 31, 2022 Marketable Securities not September 30, 2023 December 31, 2022 $2,336,402 Accounts Receivable and Allowance for Doubtful Accounts not September 30, 2023 December 31, 2022 may two nine not September 30, 2023 Inventory and Inventory Valuation Allowance not September 30, 2023 three not September 30, 2023 September 30, 2023 December 31, 2022, $5,671,326 Inventory Deposits September 30, 2023 December 31, 2022 September 30, 2023 Income Taxes Accounting for Uncertainty in Income Taxes September 30, 2023 December 31, 2022 not Net Income (Loss) Per Share Diluted net loss per share is calculated by dividing the Company’s net loss applicable to common stockholders by the diluted weighted average number of shares of common stock outstanding during the period. The diluted weighted average number of shares of common stock outstanding is the basic weighted number of shares of common stock adjusted for any potentially dilutive debt or equity securities. As of September 30, 2023 Concentration of Credit Risk $250,000 may Impairment of Long-Lived Assets may not September 30, 2023 December 31, 2022 Goodwill not not first not not not one September 30, 2023, three nine September 30, 2023, September 30, 2023. December 31, 2022 Research and Development three nine September 30, 2023 three nine September 30, 2022, Stock-Based Compensation 718, three nine September 30, 2023, three nine September 30, 2022, Property and Equipment three five $2,000. Leases 842. Recent Accounting Pronouncements not not |
Note 3 - Property and Equipment
Note 3 - Property and Equipment, Net | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 3. Property and Equipment, Net Components of property and equipment, net, consist of the following as of September 30, 2023 December 31, 2022 September 30, December 31, 2023 2022 Furniture and fixtures $ 56,646 $ 56,646 Leasehold improvements 136,847 122,711 Machinery & equipment 173,049 165,753 Vehicles 297,940 252,724 Test/Demo vehicles 30,684 15,784 Total property and equipment 695,166 613,618 Less accumulated depreciation (338,895 ) (245,157 ) Net property and equipment $ 356,271 $ 368,461 Depreciation expense was $34,192 and $93,737 for the three nine September 30, 2023, three nine September 30, 2022, |
Note 4 - Debt
Note 4 - Debt | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 4. Debt On June 15, 2021, twenty-four July 2021, zero September 30, 2023. On July 15, 2022, August 2022, September 30, 2023. Effective June 15, 2022, nine July 2022, zero September 30, 2023. Effective August 20, 2023, second nine September 2023, September 30, 2023. Effective August 4, 2022, no may may not third 2023 |
Note 5 - Stock Warrants
Note 5 - Stock Warrants | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Warrants [Text Block] | 5. Stock Warrants The Company’s outstanding warrants as of September 30, 2023 Number of Exercise Remaining Shares Price Contractual Life (years) Outstanding warrants expiring January 28, 2025 431,250 $ 10.00 1.33 Outstanding warrants expiring May 7, 2026 958,334 $ 20.00 2.60 Outstanding warrants on September 30, 2023 1,389,584 $ 17.43 2.93 The Warrants issued as part of the Purchase Agreement related to the Financing contain a call provision whereby the Company, after the 13 four 20 may not ten may first nine 2023. September 30, 2023 |
Note 6 - Stock Options and Rest
Note 6 - Stock Options and Restricted Shares | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | 6. Stock Options and Restricted Shares The outstanding options at September 30, 2023 Weighted Average Remaining Number of Exercise Contractual Life Shares Price (years) Outstanding at December 31, 2022 608,266 $ 5.30 8.77 Options granted (expired) during 9 months ended September 30, 2023: Options Granted at $2.65 Exercise Price 15,000 $ 2.65 Options Granted at $2.10 Exercise Price 588,495 $ 2.10 Options expired at $9.00 Exercise Price (1,111 ) $ 9.00 Options expired at $3.62 Exercise Price (2,762 ) $ 3.62 Subtotal, as follows: 1,207,888 Outstanding Options at $2.00 Exercise Price 250,000 $ 2.00 9.05 Outstanding Options at $2.40 Exercise Price 90,893 $ 2.40 9.05 Outstanding Options at $9.00 Exercise Price 256,750 $ 9.00 7.96 Outstanding Options at $26.20 Exercise Price 6,750 $ 26.20 5.30 Outstanding options at $2.65 Exercise Price 15,000 $ 2.65 9.54 Outstanding Options Granted at $2.10 Exercise Price 588,495 $ 2.10 9.95 Outstanding at September 30, 2023 1,207,888 $ 3.71 9.24 The number of options exercisable on September 30, 2023 On January 7, 2022, tenth On January 7, 2022, tenth On January 31, 2022, 1/60th five tenth three On March 15, 2022, March 15, 2022, not March 15, 2022. On April 19, 2023 two three On July 11, 2023, tenth As of September 30, 2023 Restricted Shares During the first 2023, six three nine September 30, 2023. third 2023. |
Note 7 - Related Party Transact
Note 7 - Related Party Transactions | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 7. Related Party Transactions The Company has entered into lease agreements with SRI Professional Services, Incorporated (“SRI”), pursuant to which the Company leases equipment used in connection with the operation of its business (the “SRI Equipment Leases”). Phillip W. Oldridge, the Company’s Chief Executive Officer and Chairman of the Board, and a member of its board of directors, serves as an executive officer and a member of the board of directors of SRI. The SRI Equipment Leases provide for the leasing of two January 1, 2020 December 1, 2019, three nine September 30, 2023, The Company has entered into a cancelable month-to-month lease with SRI (the “SRI Office Lease”), pursuant to which EVTDS has leased office and warehouse space in the Porterville, California area for a term that commenced on January 1, 2020. three nine September 30, 2023, The Company has entered into a commercial lease agreement (the “ABCI Office Lease”) with Alpha Bravo Charlie, Inc. (“ABCI”) that commenced on April 1, 2020, three nine September 30, 2023, During the first nine 2023, During the second 2023, September 30, 2023. |
Note 8 - Commitments
Note 8 - Commitments | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Commitments Disclosure [Text Block] | 8. Commitments Other Agreements On December 31, 2021, March 1, 2021, five one twelve January 1, 2022, one no In March 2023, two two July 1, 2023 ( September 1, 2023. not fourth 2023. 842 fourth 2023, two first second may 842. Future minimum payments under operating leases are as follows: Payments due by period More Less than than 5 Total one year 1 - 3 years 4 - 5 years years Operating lease obligations $ 374,913 $ 191,363 $ 183,550 $ — $ — Total $ 374,913 $ 191,363 $ 183,550 $ — $ — |
Note 9 - Contingencies
Note 9 - Contingencies | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Legal Matters and Contingencies [Text Block] | 9. Contingencies Except as set forth below, we know of no no GreenPower Litigation On December 17, 2019, No. 1914285, On or about July 18, 2021, No. S207532. 42 not On February 8, 2022, No. 5:22 00252 May 10, 2022, not Mollik Litigation On August 23, 2018, No. 1817493, two June 2017. June 2017 12 2 15 On June 19, 2023, July 18, 2023, No September 30, 2023, Brooks Litigation On June 19, 2019, No. 1 349153 two June 2017, March 7, 2022, |
Note 10 - Leases
Note 10 - Leases | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 10. Leases As of September 30, 2023, nine three 842. one 842, September 30, 2023 The Company has entered into the SRI Equipment Leases. Rent expense under the SRI Equipment Leases was $23,312 and $69,936 for the three nine September 30, 2023, three nine September 30, 2022, The Company has entered into the SRI Office Lease. Rent expense under the SRI Office Lease was $5,460 and $13,650 for the three nine September 30, 2023, three nine September 30, 2022, The Company has entered into the ABCI Office Lease. Rent expense under the ABCI Office Leases was $15,000 and $53,400 for the three nine September 30, 2023, three nine September 30, 2022, The Company has entered into the Toledo Jet Center Lease for office space in the Ft. Lauderdale, Florida area effective February 15, 2022. one one three nine September 30, 2023 three nine September 30, 2022 In February 2017, 30 In December 2019, November 2020 36 January 1, 2020, December 31, 2022. March 31, 2022, April 1, 2022 On February 4, 2020, January 1, 2020 ( February 1, 2020, December 31, 2022. April 1, 2022, As required by ASC 842, March 31, 2022, April 1, 2022 In March 2023, two two July 1, 2023 ( September 1, 2023. not fourth 2023. 842 fourth 2023, two first second may 842. The Company’s total net rent expense for the three nine September 30, 2023 three nine September 30, 2022 Quantitative information regarding the Company’s leases is as follows: Nine Months Ended September 30, 2023 2022 Lease expenses Operating lease expenses $ — $ 56,101 Short-term lease expenses 177,397 124,645 Total lease cost $ 177,397 $ 180,746 Other information Cash paid for the amounts included in the measurement of lease liabilities for operating leases: Operating cash flows $ — $ 56,890 Weighted-average remaining lease term (in years): Operating leases — 0.62 Weighted-average discount rate: Operating leases — % 14 % |
Note 11 - Subsequent Events
Note 11 - Subsequent Events | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 11. Subsequent Events The Company evaluates subsequent events that have occurred after the balance sheet date but before the consolidated financial statements are issued. There are two 1 2 not no September 30, 2023 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2023 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation September 30, 2023 three nine September 30, 2023 December 31, 2022 2021 10 September 25, 2023. three nine September 30, 2023 not |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation 2021 |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments No. 820, three Level 1: Level 2: Level 3: no The Company does not |
Revenue from Contract with Customer [Policy Text Block] | Revenue Recognition zero 606, September 30, 2023 One three September 30, 2023. Seven nine September 30, 2023. In applying ASC Topic 606, ( 1 identify any contracts with customers; ( 2 determine if multiple performance obligations exist; ( 3 determine the transaction price; ( 4 allocate the transaction price to the respective obligation; and ( 5 recognize the revenue as the obligation is satisfied. Product revenue includes the sale of electric trucks and cargo vans. These sales represent a single performance obligation and revenue is recognized when the vehicle is delivered and the customer has accepted the vehicle and signed the appropriate documentation acknowledging receipt of the vehicle. At this time, the title of the vehicle is transferred to the customer. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents three September 30, 2023 December 31, 2022 |
Marketable Securities, Policy [Policy Text Block] | Marketable Securities not September 30, 2023 December 31, 2022 $2,336,402 |
Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block] | Accounts Receivable and Allowance for Doubtful Accounts not September 30, 2023 December 31, 2022 may two nine not September 30, 2023 |
Inventory, Policy [Policy Text Block] | Inventory and Inventory Valuation Allowance not September 30, 2023 three not September 30, 2023 September 30, 2023 December 31, 2022, $5,671,326 |
Inventory Deposits [Policy Text Block] | Inventory Deposits September 30, 2023 December 31, 2022 September 30, 2023 |
Income Tax, Policy [Policy Text Block] | Income Taxes |
Income Tax Uncertainties, Policy [Policy Text Block] | Accounting for Uncertainty in Income Taxes September 30, 2023 December 31, 2022 not |
Earnings Per Share, Policy [Policy Text Block] | Net Income (Loss) Per Share Diluted net loss per share is calculated by dividing the Company’s net loss applicable to common stockholders by the diluted weighted average number of shares of common stock outstanding during the period. The diluted weighted average number of shares of common stock outstanding is the basic weighted number of shares of common stock adjusted for any potentially dilutive debt or equity securities. As of September 30, 2023 |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentration of Credit Risk $250,000 may |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Impairment of Long-Lived Assets may not September 30, 2023 December 31, 2022 |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill not not first not not not one September 30, 2023, three nine September 30, 2023, September 30, 2023. December 31, 2022 |
Research and Development Expense, Policy [Policy Text Block] | Research and Development three nine September 30, 2023 three nine September 30, 2022, |
Share-Based Payment Arrangement [Policy Text Block] | Stock-Based Compensation 718, three nine September 30, 2023, three nine September 30, 2022, |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment three five $2,000. |
Lessee, Leases [Policy Text Block] | Leases 842. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements not not |
Note 3 - Property and Equipme_2
Note 3 - Property and Equipment, Net (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | September 30, December 31, 2023 2022 Furniture and fixtures $ 56,646 $ 56,646 Leasehold improvements 136,847 122,711 Machinery & equipment 173,049 165,753 Vehicles 297,940 252,724 Test/Demo vehicles 30,684 15,784 Total property and equipment 695,166 613,618 Less accumulated depreciation (338,895 ) (245,157 ) Net property and equipment $ 356,271 $ 368,461 |
Note 5 - Stock Warrants (Tables
Note 5 - Stock Warrants (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Number of Exercise Remaining Shares Price Contractual Life (years) Outstanding warrants expiring January 28, 2025 431,250 $ 10.00 1.33 Outstanding warrants expiring May 7, 2026 958,334 $ 20.00 2.60 Outstanding warrants on September 30, 2023 1,389,584 $ 17.43 2.93 |
Note 6 - Stock Options and Re_2
Note 6 - Stock Options and Restricted Shares (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding [Table Text Block] | Weighted Average Remaining Number of Exercise Contractual Life Shares Price (years) Outstanding at December 31, 2022 608,266 $ 5.30 8.77 Options granted (expired) during 9 months ended September 30, 2023: Options Granted at $2.65 Exercise Price 15,000 $ 2.65 Options Granted at $2.10 Exercise Price 588,495 $ 2.10 Options expired at $9.00 Exercise Price (1,111 ) $ 9.00 Options expired at $3.62 Exercise Price (2,762 ) $ 3.62 Subtotal, as follows: 1,207,888 Outstanding Options at $2.00 Exercise Price 250,000 $ 2.00 9.05 Outstanding Options at $2.40 Exercise Price 90,893 $ 2.40 9.05 Outstanding Options at $9.00 Exercise Price 256,750 $ 9.00 7.96 Outstanding Options at $26.20 Exercise Price 6,750 $ 26.20 5.30 Outstanding options at $2.65 Exercise Price 15,000 $ 2.65 9.54 Outstanding Options Granted at $2.10 Exercise Price 588,495 $ 2.10 9.95 Outstanding at September 30, 2023 1,207,888 $ 3.71 9.24 |
Note 8 - Commitments (Tables)
Note 8 - Commitments (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block] | Payments due by period More Less than than 5 Total one year 1 - 3 years 4 - 5 years years Operating lease obligations $ 374,913 $ 191,363 $ 183,550 $ — $ — Total $ 374,913 $ 191,363 $ 183,550 $ — $ — |
Note 10 - Leases (Tables)
Note 10 - Leases (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Nine Months Ended September 30, 2023 2022 Lease expenses Operating lease expenses $ — $ 56,101 Short-term lease expenses 177,397 124,645 Total lease cost $ 177,397 $ 180,746 Other information Cash paid for the amounts included in the measurement of lease liabilities for operating leases: Operating cash flows $ — $ 56,890 Weighted-average remaining lease term (in years): Operating leases — 0.62 Weighted-average discount rate: Operating leases — % 14 % |
Note 1 - Organization and Ope_2
Note 1 - Organization and Operations (Details Textual) | Jun. 28, 2022 $ / shares | Sep. 30, 2023 $ / shares | Dec. 31, 2022 $ / shares | Feb. 22, 2022 ft² |
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares | $ 0.00001 | $ 0.00001 | $ 0.00001 | |
Reverse Stock Split [Member] | ||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 20 | |||
Facility in Osceola, Arkansas [Member] | ||||
Area of Real Estate Property (Square Foot) | ft² | 580,000 |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Details Textual) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2023 USD ($) shares | Sep. 30, 2022 USD ($) | Sep. 30, 2023 USD ($) shares | Sep. 30, 2022 USD ($) | Dec. 31, 2022 USD ($) shares | |
Restricted Cash, Current | $ 0 | $ 0 | $ 60,399 | ||
Accounts Receivable, before Allowance for Credit Loss, Current | 1,895,587 | 1,895,587 | 2,344,909 | ||
Accounts Receivable, Allowance for Credit Loss, Current | 271,218 | 271,218 | 271,218 | ||
Accounts Receivable, after Allowance for Credit Loss, Current | 1,624,369 | 1,624,369 | 2,073,691 | ||
Inventory, Finished Goods, Gross | 6,894,676 | 6,894,676 | 5,683,755 | ||
Inventory Valuation Reserves | 12,429 | ||||
Inventory, Net | 6,882,247 | 6,882,247 | 5,671,326 | ||
Inventory Deposits | $ 3,133,753 | $ 3,133,753 | $ 4,829,933 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number (in shares) | shares | 1,207,888 | 1,207,888 | 608,266 | ||
Class of Warrant or Right, Outstanding (in shares) | shares | 1,389,584 | 1,389,584 | |||
Maximum Insured Funds, FDIC and SPIC | $ 750,000 | $ 750,000 | |||
Maximum Cash Insured | 500,000 | 500,000 | |||
Extra Insurance by SPIC, Cap, Unlimited Per Customer Securities | 1,000,000,000 | 1,000,000,000 | |||
Impairment, Long-Lived Asset, Held-for-Use | $ 0 | ||||
Number of Reporting Units | 1 | ||||
Goodwill | 11,290,491 | $ 11,290,491 | $ 14,682,620 | ||
Goodwill, Impairment Loss | 3,392,129 | $ 0 | 3,392,129 | $ 0 | |
Research and Development Expense | 46,734 | 25,000 | 175,546 | 112,412 | |
Share-Based Payment Arrangement, Expense | $ 1,105,074 | $ 0 | $ 1,297,384 | $ 1,614,845 | |
Marketable Securities | 2,336,402 | ||||
Minimum [Member] | |||||
Property, Plant and Equipment, Useful Life (Year) | 3 years | 3 years | |||
Maximum [Member] | |||||
Property, Plant and Equipment, Useful Life (Year) | 5 years | 5 years | |||
Adomani Inc [Member] | |||||
Goodwill | $ 11,290,491 | $ 11,290,491 | 14,682,620 | ||
Goodwill, Impairment Loss | 3,392,129 | 3,392,129 | $ 37,093,047 | ||
Three Vehicles [Member] | |||||
Inventory Valuation Reserves | $ 12,429 | $ 12,429 | |||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | |||||
Number of Major Customers | 5 | ||||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Five Customers [Member] | |||||
Concentration Risk, Percentage | 88% | ||||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | |||||
Number of Major Customers | 1 | 7 | |||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | One Customer [Member] | |||||
Concentration Risk, Percentage | 100% | ||||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Seven Customers [Member] | |||||
Concentration Risk, Percentage | 67% | ||||
Supplier Concentration Risk [Member] | Deposits Outstanding [Member] | |||||
Number of Vendors | 1 | ||||
Supplier Concentration Risk [Member] | Deposits Outstanding [Member] | Three Suppliers [Member] | |||||
Concentration Risk, Percentage | 98% | ||||
Fair Value, Recurring [Member] | |||||
Assets, Fair Value Disclosure | $ 0 | $ 0 | |||
Liabilities, Fair Value Disclosure | $ 0 | $ 0 |
Note 3 - Property and Equipme_3
Note 3 - Property and Equipment, Net (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Depreciation | $ 34,192 | $ 19,093 | $ 93,737 | $ 56,700 |
Note 3 - Property and Equipme_4
Note 3 - Property and Equipment, Net - Components of Property and Equipment, Net (Details) - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 |
Total property and equipment | $ 695,166 | $ 613,618 |
Less accumulated depreciation | (338,895) | (245,157) |
Net property and equipment | 356,271 | 368,461 |
Furniture and Fixtures [Member] | ||
Total property and equipment | 56,646 | 56,646 |
Leasehold Improvements [Member] | ||
Total property and equipment | 136,847 | 122,711 |
Machinery and Equipment [Member] | ||
Total property and equipment | 173,049 | 165,753 |
Vehicles [Member] | ||
Total property and equipment | 297,940 | 252,724 |
Test/Demo Vehicles [Member] | ||
Total property and equipment | $ 30,684 | $ 15,784 |
Note 4 - Debt (Details Textual)
Note 4 - Debt (Details Textual) - USD ($) | Aug. 20, 2022 | Jul. 15, 2022 | Jun. 15, 2022 | Jun. 15, 2021 | Sep. 30, 2023 | Dec. 31, 2022 | Aug. 04, 2022 |
Notes Payable, Current | $ 476,497 | $ 215,766 | |||||
Notes Payable, Noncurrent | 13,024 | $ 16,671 | |||||
Second Premium Financing Agreement [Member] | |||||||
Debt Instrument, Face Amount | $ 467,074 | ||||||
Debt Instrument, Term (Month) | 9 months | ||||||
Debt Instrument, Periodic Payment | $ 53,675 | ||||||
Notes Payable, Current | 470,246 | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.20% | ||||||
Centennial Bank Line of Credit [Member] | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 2.75% | ||||||
Debt Instrument, Covenant, Maximum Amount of Borrowing in Excess of Current Assets | $ 1,000,000 | ||||||
Long-Term Line of Credit | 0 | ||||||
Equipment Financing Agreement [Member] | |||||||
Debt Instrument, Face Amount | $ 63,576 | ||||||
Debt Instrument, Term (Month) | 24 months | ||||||
Debt Instrument, Periodic Payment | $ 2,649 | ||||||
Line of Credit, Current | 0 | ||||||
Facility Grounds Equipment Loans [Member] | |||||||
Debt Instrument, Face Amount | $ 25,007 | ||||||
Debt Instrument, Term (Month) | 36 months | ||||||
Debt Instrument, Periodic Payment | $ 521 | ||||||
Notes Payable | 19,276 | ||||||
Notes Payable, Current | 6,252 | ||||||
Notes Payable, Noncurrent | 13,024 | ||||||
First Insurance Funding [Member] | Premium Financing Agreement [Member] | |||||||
Debt Instrument, Face Amount | $ 225,000 | ||||||
Debt Instrument, Periodic Payment | $ 25,608 | ||||||
Notes Payable | $ 0 | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.80% |
Note 5 - Stock Warrants (Detail
Note 5 - Stock Warrants (Details Textual) $ in Thousands | 9 Months Ended |
Sep. 30, 2023 USD ($) shares | |
Class of Warrants or Rights, Expired During Period (in shares) | shares | 12,833 |
Class of Warrant or Right, Intrinsic Value | $ | $ 0 |
Note 5 - Stock Warrants - Summa
Note 5 - Stock Warrants - Summary of Warrants (Details) | 9 Months Ended |
Sep. 30, 2023 $ / shares shares | |
Number of shares (in shares) | shares | 1,389,584 |
Exercise price (in dollars per share) | $ / shares | $ 17.43 |
Remaining contractual life (Year) | 2 years 11 months 4 days |
Warrant One [Member] | |
Number of shares (in shares) | shares | 431,250 |
Exercise price (in dollars per share) | $ / shares | $ 10 |
Remaining contractual life (Year) | 1 year 3 months 29 days |
Warrant Two [Member] | |
Number of shares (in shares) | shares | 958,334 |
Exercise price (in dollars per share) | $ / shares | $ 20 |
Remaining contractual life (Year) | 2 years 7 months 6 days |
Note 5 - Stock Warrants - Sum_2
Note 5 - Stock Warrants - Summary of Warrants (Details) (Parentheticals) | Sep. 30, 2023 |
Warrant One [Member] | |
Maturity date | Jan. 28, 2025 |
Warrant Two [Member] | |
Maturity date | May 07, 2026 |
Note 6 - Stock Options and Re_3
Note 6 - Stock Options and Restricted Shares (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||||||||
Jul. 11, 2023 | Apr. 19, 2023 | Mar. 15, 2022 | Jan. 31, 2022 | Jan. 07, 2022 | Sep. 30, 2023 | Mar. 31, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Number (in shares) | 1,194,971 | 1,194,971 | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Intrinsic Value | $ 0 | $ 0 | ||||||||
Share-Based Payment Arrangement, Expense | 1,105,074 | $ 0 | 1,297,384 | $ 1,614,845 | ||||||
Restricted Stock [Member] | ||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 6 months | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 85,000 | |||||||||
Share-Based Payment Arrangement, Expense | $ 14,713 | $ 204,850 | ||||||||
Chief Executive Officer [Member] | Option at 2.00 [Member] | ||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 150,000 | |||||||||
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share) | $ 2 | |||||||||
Chief Executive Officer [Member] | Options at $2.40 [Member] | ||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 50,000 | |||||||||
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share) | $ 2.4 | |||||||||
Chief Executive Officer [Member] | Share-Based Payment Arrangement, Option [Member] | ||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year) | 10 years | |||||||||
Executive Vice President [Member] | Option at 2.00 [Member] | ||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 100,000 | |||||||||
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share) | $ 2 | |||||||||
Executive Vice President [Member] | Options at $2.40 [Member] | ||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 40,893 | |||||||||
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share) | $ 2.4 | |||||||||
Executive Vice President [Member] | Share-Based Payment Arrangement, Option [Member] | ||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year) | 10 years | |||||||||
Chief Financial Officer [Member] | Share-Based Payment Arrangement, Option [Member] | ||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year) | 10 years | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 5 years | |||||||||
Chief Financial Officer [Member] | Share-Based Payment Arrangement, Option [Member] | Vesting Monthly [Member] | ||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage | 1.67% | |||||||||
Chief Financial Officer [Member] | Options at 3.62 [Member] | ||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 2,763 | |||||||||
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share) | $ 3.62 | |||||||||
Chief Financial Officer [Member] | Options at 9.00 [Member] | ||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 1,111 | |||||||||
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share) | $ 9 | |||||||||
Former President and CEO [Member] | Options at $2.40 [Member] | ||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 50,000 | |||||||||
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share) | $ 2.4 | |||||||||
Proceeds from Stock Options Exercised | $ 120,000 | |||||||||
Former President and CEO [Member] | Options at 9.00 [Member] | ||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 25,000 | |||||||||
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share) | $ 9 | |||||||||
Two Employees [Member] | ||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 15,000 | |||||||||
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share) | $ 2.65 | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 3 years | |||||||||
Board of Directors [Member] | ||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 588,495 | |||||||||
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share) | $ 2.1 | |||||||||
Board of Directors [Member] | Share-Based Payment Arrangement, Option [Member] | ||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year) | 10 years |
Note 6 - Stock Options and Re_4
Note 6 - Stock Options and Restricted Shares - Stock Options Outstanding (Details) - $ / shares | 9 Months Ended | 12 Months Ended |
Sep. 30, 2023 | Dec. 31, 2022 | |
Outstanding (in shares) | 1,207,888 | 608,266 |
Outstanding Options, weighted average exercise price (in dollars per share) | $ 3.71 | $ 5.3 |
Outstanding, weighted average remaining contractual term (Year) | 9 years 2 months 26 days | 8 years 9 months 7 days |
Option at $2.65 [Member] | ||
Options Granted (in shares) | 15,000 | |
Options Granted, Exercise Price (in dollars per share) | $ 2.65 | |
Option at $2.10 [Member] | ||
Outstanding (in shares) | 588,495 | |
Outstanding Options, weighted average exercise price (in dollars per share) | $ 2.1 | |
Outstanding, weighted average remaining contractual term (Year) | 9 years 11 months 12 days | |
Options Granted (in shares) | 588,495 | |
Options Granted, Exercise Price (in dollars per share) | $ 2.1 | |
Option at $9.00 [Member] | ||
Options expired (in shares) | (1,111) | |
Options expired, Exercise Price (in dollars per share) | $ 9 | |
Option at $3.62 [Member] | ||
Options expired (in shares) | (2,762) | |
Options expired, Exercise Price (in dollars per share) | $ 3.62 | |
Subtotal as Follows [Member] | ||
Outstanding (in shares) | 1,207,888 | |
Option at 2.00 [Member] | ||
Outstanding (in shares) | 250,000 | |
Outstanding Options, weighted average exercise price (in dollars per share) | $ 2 | |
Outstanding, weighted average remaining contractual term (Year) | 9 years 18 days | |
Options at $2.40 [Member] | ||
Outstanding (in shares) | 90,893 | |
Outstanding Options, weighted average exercise price (in dollars per share) | $ 2.4 | |
Outstanding, weighted average remaining contractual term (Year) | 9 years 18 days | |
Options at 3.62 [Member] | ||
Outstanding (in shares) | 256,750 | |
Outstanding Options, weighted average exercise price (in dollars per share) | $ 9 | |
Outstanding, weighted average remaining contractual term (Year) | 7 years 11 months 15 days | |
Options at 9.00 [Member] | ||
Outstanding (in shares) | 6,750 | |
Outstanding Options, weighted average exercise price (in dollars per share) | $ 26.2 | |
Outstanding, weighted average remaining contractual term (Year) | 5 years 3 months 18 days | |
Options at 26.20 [Member] | ||
Outstanding (in shares) | 15,000 | |
Outstanding Options, weighted average exercise price (in dollars per share) | $ 2.65 | |
Outstanding, weighted average remaining contractual term (Year) | 9 years 6 months 14 days |
Note 7 - Related Party Transa_2
Note 7 - Related Party Transactions (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2023 | Jun. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Apr. 01, 2020 | Jan. 01, 2020 | Dec. 01, 2019 | |
Operating Lease, Expense | $ 59,857 | $ 52,579 | $ 177,397 | $ 180,746 | ||||
Payments to Acquire Property, Plant, and Equipment | 36,331 | $ 90,204 | ||||||
Vehicles [Member] | Chief Executive Officer [Member] | ||||||||
Payments to Acquire Property, Plant, and Equipment | $ 45,216 | |||||||
S R I Equipment Leases [Member] | ||||||||
Operating Lease, Expense | 23,312 | 69,935 | ||||||
S R I Equipment Leases [Member] | SRI Professional Services, Incorporated [Member] | ||||||||
Operating Lease Monthly Payment | $ 7,771 | |||||||
S R I Equipment Leases [Member] | SRI Professional Services, Incorporated [Member] | Two Vehicles [Member] | ||||||||
Operating Lease Monthly Payment | $ 3,880 | |||||||
S R I Equipment Leases [Member] | SRI Professional Services, Incorporated [Member] | Trailer [Member] | ||||||||
Operating Lease Monthly Payment | $ 3,891 | |||||||
S R I Office Lease [Member] | ||||||||
Operating Lease, Expense | 5,460 | 13,650 | ||||||
S R I Office Lease [Member] | SRI Professional Services, Incorporated [Member] | ||||||||
Operating Lease Monthly Payment | $ 2,730 | |||||||
A B C I Office Lease [Member] | Alpha Bravo Charlie, Inc. (“ABCI”) [Member] | ||||||||
Operating Lease Monthly Payment | $ 5,000 | |||||||
Operating Lease, Expense | $ 15,000 | 53,400 | ||||||
Use of Personal Airplane [Member] | Chief Executive Officer [Member] | ||||||||
Operating Lease, Expense | $ 81,269 |
Note 8 - Commitments (Details T
Note 8 - Commitments (Details Textual) | 1 Months Ended | 12 Months Ended | |
Mar. 31, 2023 USD ($) yd² | Dec. 31, 2021 USD ($) | Dec. 21, 2021 USD ($) | |
Sublease of Warehouse Building in Clark Freeport Zone in Philippines [Member] | |||
Area of Real Estate Property (Square Foot) | yd² | 3,600 | ||
Lessor, Operating Lease, Grace Period (Month) | 2 months | ||
Lessor, Operating Lease, Monthly Rent, First Year | $ 15,000 | ||
Lessor, Operating Lease, Monthly Rent, Year Two | 15,750 | ||
Lessor, Operating Lease, Monthly Rent, Remaining Term | $ 16,530 | ||
Common Area Maintenance Costs, Percent of Monthly Rent | 5% | ||
Chief Executive Officer [Member] | |||
Salary and Wage, Officer, Excluding Cost of Good and Service Sold | $ 300,000 | ||
Automobile Monthly Allowance | $ 1,500 | ||
Executive Vice President [Member] | |||
Salary and Wage, Officer, Excluding Cost of Good and Service Sold | $ 200,000 |
Note 8 - Commitments - Future M
Note 8 - Commitments - Future Minimum Payments (Details) | Sep. 30, 2023 USD ($) |
Lessee, Operating Lease, Liability, to be Paid | $ 374,913 |
Operating lease obligations, less than one year | 191,363 |
Operating lease obligations, year 1-3 | 183,550 |
Operating lease obligations, year 4-5 | 0 |
Total | 374,913 |
Total, less than one year | 191,363 |
Total, year 1-3 | 183,550 |
Total, year 4-5 | $ 0 |
Note 9 - Contingencies (Details
Note 9 - Contingencies (Details Textual) - Alan K. Brooks v. ADOMANI, Inc [Member] - USD ($) | 3 Months Ended | |
Sep. 30, 2023 | Jun. 19, 2019 | |
Number of Shares Refused To Release (in shares) | 1,320,359 | |
Litigation Settlement, Amount Awarded to Other Party | $ 540,000 | |
Litigation Settlement, Common Stock Issued for Settlement | 170,000 | |
Payments for Legal Settlements | 170,000 | |
Litigation Settlement, Carrier Cash Paid to Other Party | $ 170,000 |
Note 10 - Leases (Details Textu
Note 10 - Leases (Details Textual) | 1 Months Ended | 3 Months Ended | 9 Months Ended | |||||||
Mar. 31, 2023 USD ($) yd² | Sep. 30, 2023 USD ($) | Sep. 30, 2022 USD ($) | Sep. 30, 2023 USD ($) | Sep. 30, 2022 USD ($) | Dec. 31, 2022 USD ($) | Feb. 15, 2022 | Feb. 04, 2020 USD ($) | Dec. 31, 2019 USD ($) | Feb. 28, 2017 USD ($) | |
Operating Lease, Expense | $ 59,857 | $ 52,579 | $ 177,397 | $ 180,746 | ||||||
Lessee, Operating Lease, Liability, to be Paid | 374,913 | 374,913 | ||||||||
Equipment Leases [Member] | ||||||||||
Lessee, Operating Lease, Number of Leases | 3 | |||||||||
S R I Equipment Leases [Member] | ||||||||||
Operating Lease, Expense | 23,312 | 23,312 | 69,936 | 69,936 | ||||||
S R I Office Lease [Member] | ||||||||||
Operating Lease, Expense | 5,460 | 8,190 | 13,650 | 18,200 | ||||||
A B C I Office Lease [Member] | ||||||||||
Operating Lease, Expense | 15,000 | 8,400 | 53,400 | 25,200 | ||||||
Toledo Jet Center [Member] | ||||||||||
Operating Lease, Expense | $ 4,500 | $ 4,815 | $ 13,500 | $ 12,038 | ||||||
Lessee, Operating Lease, Term of Contract (Year) | 1 year | |||||||||
Lessee, Operating Lease, Renewal Term (Year) | 1 year | |||||||||
Storage Space In Stockton California1 [Member] | ||||||||||
Operating Lease Monthly Payment | $ 1,000 | |||||||||
Warehouse Space In Corona California [Member] | ||||||||||
Operating Lease Monthly Payment | $ 13,906 | $ 13,108 | ||||||||
Lessee, Operating Lease, Liability, to be Paid | 495,720 | |||||||||
Warehouse Space In Corona California [Member] | Masters Transportation Inc1 [Member] | ||||||||||
Operating Lease Monthly Payment | $ 6,365 | $ 6,000 | ||||||||
Warehouse Space In Corona California [Member] | Fire Sprinkler Alarm Monitoring And Landscape Maintenance [Member] | ||||||||||
Operating Lease Monthly Payment | $ 265 | |||||||||
Sublease of Warehouse Building in Clark Freeport Zone in Philippines [Member] | ||||||||||
Area of Real Estate Property (Square Foot) | yd² | 3,600 | |||||||||
Lessor, Operating Lease, Grace Period (Month) | 2 months | |||||||||
Lessor, Operating Lease, Monthly Rent, First Year | $ 15,000 | |||||||||
Lessor, Operating Lease, Monthly Rent, Year Two | 15,750 | |||||||||
Lessor, Operating Lease, Monthly Rent, Remaining Term | $ 16,530 | |||||||||
Common Area Maintenance Costs, Percent of Monthly Rent | 5% |
Note 10 - Leases - Schedule of
Note 10 - Leases - Schedule of Information Regarding Leases (Details) - USD ($) | 9 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Lease expenses | ||
Operating lease expenses | $ 0 | $ 56,101 |
Short-term lease expenses | 177,397 | 124,645 |
Total lease cost | 177,397 | 180,746 |
Operating cash flows | $ 0 | $ 56,890 |
Operating leases (Year) | 7 months 13 days | |
Operating leases | 0% | 14% |