EVmo (YAYO) 10-Q 18 May 20 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2020	May 15, 2020
Cover [Abstract]
Entity Registrant Name	YayYo, Inc.
Entity Central Index Key	0001691077
Document Type	10-Q
Document Period End Date	Mar. 31, 2020
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business Flag	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		30,856,374
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2020

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Current Assets:
Cash	$ 37,579	$ 1,256,429
Accounts receivable	37,839	59,331
Prepaid expenses	768,440	782,900
Total current assets	843,858	2,098,660
Equipment, net	3,093	3,395
Rental vehicles, net	6,832,929	4,737,047
Deposit on vehicles	35,537	164,080
Deferred offering costs
Other assets	200,000	200,000
TOTAL ASSETS	7,915,417	7,203,182
Current Liabilities:
Accounts payable (including $529,649 and $394,183 to related party)	1,075,228	545,254
Accrued expenses (including $0 and $171,665 to related party)	257,761	405,977
Notes payables, current (net of discount of $22,336 and $32,289)	297,331	287,378
Finance lease obligations, current	1,715,134	1,416,446
Total current liabilities	3,345,454	2,655,055
Finance lease obligations, net of current portion	2,309,933	984,119
TOTAL LIABILITIES	5,655,387	3,639,174
Commitments and contingencies
STOCKHOLDERS' DEFICIT
Preferred stock, $0.000001 par value; 10,000,000 shares authorized; nil shares issued and outstanding
Common stock, $0.000001 par value; 90,000,000 shares authorized; 29,427,803 and 29,427,803 shares issued and outstanding	29	29
Additional paid-in capital	29,193,136	28,735,894
Accumulated deficit	(26,933,135)	(25,171,915)
Total stockholders' deficit	2,260,030	3,564,008
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 7,915,417	$ 7,203,182

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Accounts payable related party	$ 529,649	$ 394,183
Accrued expenses related party	0	171,665
Net of debt discount, current	$ 22,336	$ 32,289
Preferred stock, par value	$ 0.000001	$ 0.000001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, par value	$ 0.000001	$ 0.000001
Common stock, shares authorized	90,000,000	90,000,000
Common stock, shares issued	29,427,803	29,427,803
Common stock, shares outstanding	29,427,803	29,427,803

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income Statement [Abstract]
Revenue	$ 1,747,642	$ 1,778,601
Cost of revenue	1,401,291	1,082,170
Gross profit	346,351	696,431
Operating expenses:
Selling and marketing expenses	131,509	81,738
General and administrative expenses	1,896,206	785,183
Loss on the settlement of debt		240,000
Total operating expenses	2,027,715	1,106,921
Loss from operations	(1,681,364)	(410,490)
Other income (expense):
Interest and financing costs	(79,856)	(168,973)
Total other income (expense)	(79,856)	(168,973)
Net loss	$ (1,761,220)	$ (579,463)
Weighted average shares outstanding :
Basic	29,427,803	26,721,343
Diluted	29,427,803	26,721,343
Loss per share
Basic	$ (0.06)	$ (0.02)
Diluted	$ (0.06)	$ (0.02)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity (Deficit) (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Total
Balance at Dec. 31, 2018	$ 27	$ 19,193,151	$ (21,241,694)	$ (2,048,516)
Balance, shares at Dec. 31, 2018	26,718,676
Issuance of common stock for settlement of debt		640,000		640,000
Issuance of common stock for settlement of debt, shares	80,000
Net loss			(579,463)	(579,463)
Balance at Mar. 31, 2019	$ 27	19,833,151	(21,821,157)	(1,987,979)
Balance, shares at Mar. 31, 2019	26,798,676
Balance at Dec. 31, 2019	$ 29	28,735,894	(25,171,915)	3,564,008
Balance, shares at Dec. 31, 2019	29,427,803
Stock option expense		457,242		457,242
Net loss			(1,761,220)	(1,761,220)
Balance at Mar. 31, 2020	$ 29	$ 29,193,136	$ (26,933,135)	$ 2,260,030
Balance, shares at Mar. 31, 2020	29,427,803

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (1,761,220)	$ (579,463)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	314,785	241,879
Stock option expense	457,242
Common stock issued for services
Amortization of debt discounts	9,953	9,844
Loss on the settlement of debt		240,000
Changes in operating assets and liabilities:
Accounts receivable	21,492
Prepaid expenses	14,460	(17,858)
Accounts payable	529,974	(132,283)
Accrued expenses	(148,216)	92,324
Net cash used in operating activities	(561,530)	(145,557)
CASH FLOWS FROM INVESTING ACTIVITIES:
Deposit for vehicles	(35,537)
Net cash used in investing activities	(35,537)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from notes payable		680,000
Repayment of notes payable		(199,141)
Repayment of finance lease obligations	(621,783)	(297,703)
Net cash provided by (used in) financing activities	(621,783)	183,156
NET INCREASE (DECREASE) IN CASH	(1,218,850)	37,599
CASH, BEGINNING OF PERIOD	1,256,429	277,444
CASH, END OF PERIOD	37,579	315,043
CASH PAID FOR:
Interest	69,903	148,511
Income taxes
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING ACTIVITIES
Payment of accounts payable/accrued expenses with common stock		400,000
Value of equity recorded as debt discounts
Finance lease obligations	$ 2,246,285	$ 510,136

Organization and Basis of Prese

Organization and Basis of Presentation	3 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	Note 1 - Organization and Basis of Presentation Organization and Line of Business YayYo, Inc. (“YayYo” or the “Company”) was incorporated on June 21, 2016 under the laws of the state of Delaware originally as a limited liability company and subsequently changed to a C corporation. The accompanying financial statements are retroactively restated to present the Company as a C corporation from June 21, 2016. The Company rents cars to Uber and Lyft drivers. Basis of Presentation The accounting and reporting policies of the Company conform to accounting principles generally accepted in the United States of America (GAAP). Risk and Uncertainties In December 2019, a novel strain of coronavirus surfaced in China, which has and is continuing to spread throughout the world, including the United States. On January 30, 2020, the World Health Organization declared the outbreak of the coronavirus disease (COVID-19) a “Public Health Emergency of International Concern,” and on March 11, 2020, the World Health Organization characterized the outbreak as a “pandemic”. The governors of New York, California and several other states, as well as mayors on many cities, have ordered their residents to cease traveling to non-essential jobs and to curtail all unnecessary travel, and to stay in their homes as much as possible in the coming weeks, as the nation confronts the escalating coronavirus outbreak, and similar restrictions have been recommended by the federal authorities and authorities in many other states and cities. Since the beginning of 2020 and the spread of COVID-19, rideshare companies have increasingly been negatively impacted. As Americans practice social distancing and self-isolation, Uber, Lyft, and other rideshare companies have seen a steep decline in ridership and revenue, as a result. Given that rideshare drivers are both at risk themselves and of risk to the public, and in addition to decreased demand overall, less people are even still driving. The Company has seen a decline in revenue which is having a negative impact on the cash flows of the business. The Company is not able to predict the ultimate impact that COVID -19 will have on its business; however, if the current economic conditions continue, the Company will be forced to significantly scale back its business operations and its growth plans, and could ultimately have a significant negative impact on the Company. The Company cannot at this time estimate the long term effect of this unprecedented situation on the rideshare market in general or the Company in particular. Interim financial statements The unaudited interim financial statements included herein, presented in accordance with United States generally accepted accounting principles and stated in US dollars, have been prepared by the Company, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosure normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosure are adequate to make the information presented not misleading. These statements reflect all adjustment, consisting of normal recurring adjustments, which, in the opinion of management, are necessary for fair presentation of the information contained therein. It is suggested that these interim financial statements be read in conjunction with the financial statements of the Company for the three months ended March 31, 2019 and notes thereto. The Company follows the same accounting policies in the preparation of interim report. Results of operations for the interim period are not indicative of annual results.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2 – Summary of Significant Accounting Policies Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Distinct Cars, LLC, RideShare Car Rentals, LLC, RideYayYo, LLC and Savy, LLC. All significant intercompany transactions and balances have been eliminated. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. It is possible that accounting estimates and assumptions may be material to the Company due to the levels of subjectivity and judgment involved. Cash Equivalents For the purpose of the statement of cash flows, cash equivalents include time deposits, certificate of deposits, and all highly liquid debt instruments with original maturities of three months or less. Equipment and Rental Vehicles Equipment and Rental Vehicles are stated at cost. Expenditures for maintenance and repairs are charged to earnings as incurred; additions, renewals and betterments are capitalized. When equipment is retired or otherwise disposed of, the related cost and accumulated depreciation are removed from the respective accounts, and any gain or loss is included in operations. Depreciation of equipment and rental vehicles is provided using the straight-line method for substantially all assets with estimated lives as follows: Computer equipment 5 years Vehicles 5 years Long-Lived Assets The Company applies the provisions of ASC Topic 360, Property, Plant, and Equipment Revenue Recognition The Company recognizes revenue from renting its fleet of cars to Uber and Lyft drivers. Revenue is recognized based on the rental agreements which are generally on a weekly basis. The Company recognizes revenue in accordance with FASB ASC 606, Revenue From Contracts with Customers Income Taxes The Company accounts for income taxes in accordance with ASC Topic 740, Income Taxes Under ASC 740, a tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. The adoption had no effect on the Company’s consolidated financial statements. Stock-Based Compensation The Company records stock-based compensation in accordance with FASB ASC Topic 718, Compensation – Stock Compensation Basic and Diluted Earnings Per Share Earnings per share is calculated in accordance with ASC Topic 260, Earnings Per Share Advertising Costs The Company expenses the cost of advertising as incurred. Advertising costs for the three months ended March 31, 2020 and 2019 were $182,645 and $125,995, respectively. Fair Value Measurements The Company applies the provisions of ASC 820-10, “Fair Value Measurements and Disclosures.” ● Level 1 inputs to the valuation methodology are quoted prices for identical assets or liabilities in active markets. ● Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. ● Level 3 inputs to the valuation methodology are unobservable and significant to the fair value measurement. For certain financial instruments, the carrying amounts reported in the balance sheets for cash and current liabilities, including convertible notes payable, each qualify as financial instruments and are a reasonable estimate of their fair values because of the short period of time between the origination of such instruments and their expected realization and their current market rate of interest. At March 31, 2020 and December 31, 2019, the Company did not identify any liabilities that are required to be presented on the balance sheet at fair value. Recent Accounting Pronouncements In June 2018, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) ASU 2018-07, Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes Income Taxes Management does not believe that any recently issued, but not yet effective, accounting standards could have a material effect on the accompanying financial statements. As new accounting pronouncements are issued, we will adopt those that are applicable under the circumstances.

Equipment

Equipment	3 Months Ended
	Mar. 31, 2020
Property, Plant and Equipment [Abstract]
Equipment	Note 3 – Equipment At March 31, 2020 and December 31, 2019 equipment consisted of the following: March 31, December 31, 2020 2019 Computer equipment $ 6,046 $ 6,046 6,046 6,046 Less accumulated depreciation (2,953 ) (2,651 ) Equipment, net $ 3,093 $ 3,395 Depreciation expense for equipment for the three months ended March 31, 2020 and 2019 was $302 and $105, respectively.

Rental Vehicles

Rental Vehicles	3 Months Ended
	Mar. 31, 2020
Rental Vehicles
Rental Vehicles	Note 4 – Rental Vehicles At March 31, 2020 and December 31, 2019, all of the Company’s rental vehicles consisted of the following: March 31, December 31, 2020 2019 Rental vehicles $ 8,694,576 $ 6,284,211 8,694,576 6,284,211 Less accumulated depreciation (1,861,647 ) (1,547,164 ) Rental vehicles, net $ 6,832,929 $ 4,737,047 The Company’s leased assets, consisting of vehicles, are depreciated over their estimated useful life of five years. Depreciation expense for leased assets for the three months ended March 31, 2020 and 2019 was $314,483 and $241,774, respectively. The lease terms are generally for 30 to 36 months and the Company has the right to purchase the leased assets for $1 each at the end of the lease terms.

Notes Payable

Notes Payable	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Notes Payable	Note 5 – Notes Payable Notes payable at March 31, 2020 and December 31, 2019 consisted of the following: March 31, December 31, 2020 2019 Notes payable to individual investors; accrue interest at 8% per annum; principal payments equal to 1/12 of original balance plus interest due quarterly; due from dates ranging from August 9, 2020 to March 26, 2021; unsecured (A) $ 319,667 319,667 Total notes payable 319,667 319,667 Unamortized debt discount (22,336 ) (32,289 ) Notes payable, net discount 297,331 287,378 Less current portion (297,331 ) (287,378 ) Long-term portion $ - $ - (A) In connection with the issuance of these notes payable in 2018 and 2017, the Company also issued an aggregate of 24,050 shares of its common stock to these note holders as additional incentive to make the loans. The aggregate relative fair value of these shares of common stock was $119,875 and was recorded as a discount on the note payable and as additional paid in capital. The discount of $119,875 is being amortized over the term of the notes payable. During the three months ended March 31, 2020 and 2019, $9,953 and $9,844, respectively, was charged to interest expense as amortization of the discounts, with an unamortized balance of $22,336 at March 31, 2020. A rollforward of notes payable from December 31, 2019 to March 31, 2020 is below: Notes payable, December 31, 2019 $ 287,378 Amortization of debt discounts 9,953 Notes payable, March 31, 2020 $ 297,331

Lease Obligations

Lease Obligations	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Lease Obligations	Note 6 – Lease Obligations Lease obligations at March 31, 2020 and December 31, 2019 consisted of the following: March 31, December 31, 2020 2019 Lease obligations $ 4,025,067 $ 2,400,565 Less current portion (1,715,134 ) (1,416,446 ) Long-term portion $ 2,309,933 $ 984,119 A rollforward of lease obligations from December 31, 2019 to March 31, 2020 is below: Lease obligations, December 31, 2019 $ 2,400,565 New lease obligations 2,246,285 Payments on lease obligations (621,783 ) Lease obligations, March 31, 2020 $ 4,025,067 Future payments under lease obligations are as follows: Twelve months ending March 31, 2021 $ 1,906,408 2022 1,270,563 2023 1,185,942 Total payments 4,362,913 Amount representing interest (337,846 ) Lease obligation, net $ 4,025,067

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
Stockholders' Equity	Note 7 – Stockholders’ Equity The Company authorized 100,000,000 shares of capital stock with consists of 90,000,000 shares of common stock, $0.000001 par value per share and 10,000,000 shares of preferred stock, $0.000001 par value per share. Stock Options The following is a summary of stock option activity: Weighted Weighted Average Average Remaining Aggregate Options Exercise Contractual Intrinsic Outstanding Price Life Value Outstanding, December 31, 2019 300,000 $ 8.00 1.00 $ - Granted 1,500,000 4.00 Forfeited (1,084,000 ) 4.00 Exercised - Outstanding, March 31, 2020 716,000 $ 5.68 1.93 $ - Exercisable, March 31, 2020 716,000 $ 5.68 1.93 $ - The exercise price for options outstanding and exercisable at March 31, 2020: Outstanding Exercisable Number of Exercise Number of Exercise Options Price Options Price 416,000 $ 4.00 416,000 $ 4.00 300,000 8.00 300,000 8.00 716,000 716,000 The following is a summary of warrant activity: Weighted Weighted Average Average Remaining Aggregate Warrants Exercise Contractual Intrinsic Outstanding Price Life Value Outstanding, December 31, 2019 1,631,250 $ 4.08 3.38 $ - Granted - Forfeited - Exercised - Outstanding, March 31, 2020 1,631,250 $ 4.08 3.13 $ - Exercisable, March 31, 2020 1,631,250 $ 4.08 3.13 $ - The exercise price for warrants outstanding at March 31, 2020: Outstanding and Exerciseable Number of Exercise Warrants Price 1,500,000 $ 4.00 131,250 5.00 1,631,250

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2020
Related Party Transactions [Abstract]
Related Party Transactions	Note 8 – Related Party Transactions During the three months ended March 31, 2020 and 2019, the Company paid management fees of $0 and $52,000, respectively, to a company that is owned by the Company’s Chief Executive Officer and director. Beginning on February 1, 2019, the Company entered into a consulting agreement with this individual and paid $167,000 under the consulting agreement. The consulting agreement was terminated effective September 1, 2019. During the three months ended March 31, 2020 and 2019, the Company expensed $32,173 and $63,727, respectively, in advertising expense from a company whose CEO was also a former director of the Company. At March 31, 2020 and December 31, 2019, $324,920 and $394,183, respectively, was owed to this company and is included in accounts payable in the accompanying consolidated balance sheets. During the three months ended March 31, 2020 and 2019, the Company expensed $515,092 and $511,437, respectively, in insurance expense related to insuring the Company fleet of vehicles from an insurance brokerage firm whose owner is also a stockholder of the Company. At March 31, 2020 and December 31, 2019, $204,729 and $171,665, respectively, was owed to this insurance brokerage from and is included in accounts payable and accrued expenses in the accompanying consolidated balance sheets.

Contingencies

Contingencies	3 Months Ended
	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Note 9 - Contingencies Legal Proceedings From time to time, the Company may become involved in lawsuits and other legal proceedings that arise in the course of business. Litigation is subject to inherent uncertainties, and it is not possible to predict the outcome of litigation with total confidence. The Company is currently not aware of any legal proceedings or potential claims against it whose outcome would be likely, individually or in the aggregate, to have a material adverse effect on the Company’s business, financial condition, operating results, or cash flows. Social Reality Inc. v. YayYo, Inc. This action was filed on February 11, 2020, in the Superior Court of the State of California for the County of Los Angeles. Plaintiff Social Reality Inc. is a media company that claims to have provided media services to the Company. Plaintiff has sued the Company for breach of contract and related causes of action, arising from its claims that we have failed to pay for past outstanding invoices for services rendered. The plaintiff has also filed a motion for prejudgment attachment which is set for a hearing on April 28, 2020. The Company believes that it has valid defenses to the lawsuit, and expects to file counterclaims that will offset or negate any monies owed to plaintiff; it will vigorously defend both the lawsuit and plaintiff’s application for attachment. Anthony Davis v. YayYo, Inc., and Ramy El-Batrawi This action was filed on March 5, 2020, in the Superior Court of the State of California for the County of Los Angeles. Plaintiff Anthony Davis was hired by the Company as its Chief Executive Officer in or about December 2016. Mr. El-Batrawi is the founder of the Company and our current Chief Executive Officer and director, and was involved, the complaint alleges, in Plaintiff’s hiring. As part of his compensation, Mr. Davis claims that he expected to receive stock options in the Company. He has alleged that “after several months of unsuccessfully attempting to persuade the Company’s founder to implement certain protocols and procedures” he resigned from his executive officer and director positions, and entered into a written agreement with the Company for services to be rendered as a consultant. Mr. Davis claims that the Company breached its agreement to award him certain stock options and includes a claim for wage and hour violations. The lawsuit also includes a request for declaratory and injunctive relief. He also included a claim under California Unfair Practices Act. The Company denies liability and asserts that it has paid Davis all amounts due to him under the contract. It intends to vigorously defend the lawsuit, by, inter alia

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	Note 10 – Subsequent Events On April 2, 2020, X, LLC, a company wholly-owned and controlled by Ramy El-Batrawi, the Chief Executive Officer and a Director of the Company, loaned $50,000 to the Company, and on April 6, 2020, X, LLC, loaned an additional $100,000 to the Company. These loans were made under an oral agreement, are secured by all of the assets of the Company and its subsidiaries, bear no interest, and are payable 30 days after the date of the loan. The Company will use the proceeds of these loans for general working capital purposes. On April 3, 2020, the Company issued and sold 1,428,571 of its common stock, par value $0.000001 per share, to a private investor who is an “accredited investor” as defined in Rule 501 under the Securities Act of 1933, as amended (the “Securities Act”), for a purchase price of $0.07 per share, for gross proceeds of $100,000. The Company will use the proceeds of this sale for general working capital purposes. This sale was exempt from registration under Section 4(a)(2) of the Securities Act and/or Rule 506 of Regulation D thereunder as not involving any public offering.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Distinct Cars, LLC, RideShare Car Rentals, LLC, RideYayYo, LLC and Savy, LLC. All significant intercompany transactions and balances have been eliminated.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. It is possible that accounting estimates and assumptions may be material to the Company due to the levels of subjectivity and judgment involved.
Cash Equivalents	Cash Equivalents For the purpose of the statement of cash flows, cash equivalents include time deposits, certificate of deposits, and all highly liquid debt instruments with original maturities of three months or less.
Equipment and Rental Vehicles	Equipment and Rental Vehicles Equipment and Rental Vehicles are stated at cost. Expenditures for maintenance and repairs are charged to earnings as incurred; additions, renewals and betterments are capitalized. When equipment is retired or otherwise disposed of, the related cost and accumulated depreciation are removed from the respective accounts, and any gain or loss is included in operations. Depreciation of equipment and rental vehicles is provided using the straight-line method for substantially all assets with estimated lives as follows: Computer equipment 5 years Vehicles 5 years
Long-Lived Assets	Long-Lived Assets The Company applies the provisions of ASC Topic 360, Property, Plant, and Equipment
Revenue Recognition	Revenue Recognition The Company recognizes revenue from renting its fleet of cars to Uber and Lyft drivers. Revenue is recognized based on the rental agreements which are generally on a weekly basis. The Company recognizes revenue in accordance with FASB ASC 606, Revenue From Contracts with Customers
Income Taxes	Income Taxes The Company accounts for income taxes in accordance with ASC Topic 740, Income Taxes Under ASC 740, a tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. The adoption had no effect on the Company’s consolidated financial statements.
Stock-Based Compensation	Stock-Based Compensation The Company records stock-based compensation in accordance with FASB ASC Topic 718, Compensation – Stock Compensation
Basic and Diluted Earnings Per Share	Basic and Diluted Earnings Per Share Earnings per share is calculated in accordance with ASC Topic 260, Earnings Per Share
Advertising Costs	Advertising Costs The Company expenses the cost of advertising as incurred. Advertising costs for the three months ended March 31, 2020 and 2019 were $182,645 and $125,995, respectively.
Fair Value Measurements	Fair Value Measurements The Company applies the provisions of ASC 820-10, “Fair Value Measurements and Disclosures.” ● Level 1 inputs to the valuation methodology are quoted prices for identical assets or liabilities in active markets. ● Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. ● Level 3 inputs to the valuation methodology are unobservable and significant to the fair value measurement. For certain financial instruments, the carrying amounts reported in the balance sheets for cash and current liabilities, including convertible notes payable, each qualify as financial instruments and are a reasonable estimate of their fair values because of the short period of time between the origination of such instruments and their expected realization and their current market rate of interest. At March 31, 2020 and December 31, 2019, the Company did not identify any liabilities that are required to be presented on the balance sheet at fair value.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In June 2018, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) ASU 2018-07, Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes Income Taxes Management does not believe that any recently issued, but not yet effective, accounting standards could have a material effect on the accompanying financial statements. As new accounting pronouncements are issued, we will adopt those that are applicable under the circumstances.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Schedule of Estimated Lives of Equipment	Depreciation of equipment and rental vehicles is provided using the straight-line method for substantially all assets with estimated lives as follows: Computer equipment 5 years Vehicles 5 years

Equipment (Tables)

Equipment (Tables)	3 Months Ended
	Mar. 31, 2020
Property, Plant and Equipment [Abstract]
Schedule of Equipment	At March 31, 2020 and December 31, 2019 equipment consisted of the following: March 31, December 31, 2020 2019 Computer equipment $ 6,046 $ 6,046 6,046 6,046 Less accumulated depreciation (2,953 ) (2,651 ) Equipment, net $ 3,093 $ 3,395

Rental Vehicles (Tables)

Rental Vehicles (Tables)	3 Months Ended
	Mar. 31, 2020
Rental Vehicles
Schedule of Rental Vehicles	At March 31, 2020 and December 31, 2019, all of the Company’s rental vehicles consisted of the following: March 31, December 31, 2020 2019 Rental vehicles $ 8,694,576 $ 6,284,211 8,694,576 6,284,211 Less accumulated depreciation (1,861,647 ) (1,547,164 ) Rental vehicles, net $ 6,832,929 $ 4,737,047

Notes Payable (Tables)

Notes Payable (Tables)	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Schedule of Notes Payable	Notes payable at March 31, 2020 and December 31, 2019 consisted of the following: March 31, December 31, 2020 2019 Notes payable to individual investors; accrue interest at 8% per annum; principal payments equal to 1/12 of original balance plus interest due quarterly; due from dates ranging from August 9, 2020 to March 26, 2021; unsecured (A) $ 319,667 319,667 Total notes payable 319,667 319,667 Unamortized debt discount (22,336 ) (32,289 ) Notes payable, net discount 297,331 287,378 Less current portion (297,331 ) (287,378 ) Long-term portion $ - $ - (A) In connection with the issuance of these notes payable in 2018 and 2017, the Company also issued an aggregate of 24,050 shares of its common stock to these note holders as additional incentive to make the loans. The aggregate relative fair value of these shares of common stock was $119,875 and was recorded as a discount on the note payable and as additional paid in capital. The discount of $119,875 is being amortized over the term of the notes payable. During the three months ended March 31, 2020 and 2019, $9,953 and $9,844, respectively, was charged to interest expense as amortization of the discounts, with an unamortized balance of $22,336 at March 31, 2020.
Schedule of Outstanding Notes Payable	A rollforward of notes payable from December 31, 2019 to March 31, 2020 is below: Notes payable, December 31, 2019 $ 287,378 Amortization of debt discounts 9,953 Notes payable, March 31, 2020 $ 297,331

Lease Obligations (Tables)

Lease Obligations (Tables)	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Schedule of Lease Obligations	Lease obligations at March 31, 2020 and December 31, 2019 consisted of the following: March 31, December 31, 2020 2019 Lease obligations $ 4,025,067 $ 2,400,565 Less current portion (1,715,134 ) (1,416,446 ) Long-term portion $ 2,309,933 $ 984,119
Schedule of Outstanding Lease Obligations	A rollforward of lease obligations from December 31, 2019 to March 31, 2020 is below: Lease obligations, December 31, 2019 $ 2,400,565 New lease obligations 2,246,285 Payments on lease obligations (621,783 ) Lease obligations, March 31, 2020 $ 4,025,067
Schedule of Future Lease Obligations	Future payments under lease obligations are as follows: Twelve months ending March 31, 2021 $ 1,906,408 2022 1,270,563 2023 1,185,942 Total payments 4,362,913 Amount representing interest (337,846 ) Lease obligation, net $ 4,025,067

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
Summary of Stock Option Activity	The following is a summary of stock option activity: Weighted Weighted Average Average Remaining Aggregate Options Exercise Contractual Intrinsic Outstanding Price Life Value Outstanding, December 31, 2019 300,000 $ 8.00 1.00 $ - Granted 1,500,000 4.00 Forfeited (1,084,000 ) 4.00 Exercised - Outstanding, March 31, 2020 716,000 $ 5.68 1.93 $ - Exercisable, March 31, 2020 716,000 $ 5.68 1.93 $ -
Schedule of Options Outstanding by Exercise Price Range	The exercise price for options outstanding and exercisable at March 31, 2020: Outstanding Exercisable Number of Exercise Number of Exercise Options Price Options Price 416,000 $ 4.00 416,000 $ 4.00 300,000 8.00 300,000 8.00 716,000 716,000
Summary of Warrant Activity	The following is a summary of warrant activity: Weighted Weighted Average Average Remaining Aggregate Warrants Exercise Contractual Intrinsic Outstanding Price Life Value Outstanding, December 31, 2019 1,631,250 $ 4.08 3.38 $ - Granted - Forfeited - Exercised - Outstanding, March 31, 2020 1,631,250 $ 4.08 3.13 $ - Exercisable, March 31, 2020 1,631,250 $ 4.08 3.13 $ -
Schedule of Warrants Outstanding by Exercise Price Range	The exercise price for warrants outstanding at March 31, 2020: Outstanding and Exerciseable Number of Exercise Warrants Price 1,500,000 $ 4.00 131,250 5.00 1,631,250

Organization and Basis of Pre_2

Organization and Basis of Presentation (Details Narrative)	3 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Date of incorporation	Jun. 21, 2016
Place of incorporation	DE

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Number of stock options shares outstanding	716,000		300,000
Potentially dilutive securities outstanding	2,347,250
Advertising costs	$ 182,645	$ 125,995
Warrant [Member]
Number of stock options shares outstanding	1,631,250
Options [Member]
Number of stock options shares outstanding	716,000

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Estimated Lives of Equipment (Details)	3 Months Ended
	Mar. 31, 2020
Computer Equipment [Member]
Estimated lives	5 years
Rental Vehicles [Member]
Estimated lives	5 years

Equipment (Details Narrative)

Equipment (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Depreciation expense	$ 314,483	$ 241,774
Equipment [Member]
Depreciation expense	$ 302	$ 105

Equipment - Schedule of Equipme

Equipment - Schedule of Equipment (Details) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Equipment, gross	$ 6,046	$ 6,046
Less accumulated depreciation	(2,953)	(2,651)
Equipment, net	3,093	3,395
Computer Equipment [Member]
Equipment, gross	$ 6,046	$ 6,046

Rental Vehicles (Details Narrat

Rental Vehicles (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Depreciation expense for leased assets	$ 314,483	$ 241,774
Payments to acquire leased assets in future	$ 1
Minimum [Member]
Finance lease term	30 months
Maximum [Member]
Finance lease term	36 months
Rental Vehicles [Member]
Estimated useful life	5 years

Rental Vehicles - Schedule of R

Rental Vehicles - Schedule of Rental Vehicles (Details) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Rental Vehicles, gross	$ 8,694,576	$ 6,284,211
Less accumulated depreciation	(1,861,647)	(1,547,164)
Rental Vehicles, net	6,832,929	4,737,047
Rental Vehicles [Member]
Rental Vehicles, gross	$ 8,694,576	$ 6,284,211

Notes Payable - Schedule of Not

Notes Payable - Schedule of Notes Payable (Details) - USD ($)		Mar. 31, 2020	Dec. 31, 2019
Total notes payable		$ 319,667	$ 319,667
Unamortized debt discount		(22,336)	(32,289)
Notes payable, net discount		297,331	287,378
Less current portion		(297,331)	(287,378)
Long-term portion
Unsecured Note Payable To Individual Investors [Member]
Total notes payable	[1]	$ 319,667	$ 319,667
[1]	In connection with the issuance of these notes payable in 2018 and 2017, the Company also issued an aggregate of 24,050 shares of its common stock to these note holders as additional incentive to make the loans. The aggregate relative fair value of these shares of common stock was $119,875 and was recorded as a discount on the note payable and as additional paid in capital. The discount of $119,875 is being amortized over the term of the notes payable. During the three months ended March 31, 2020 and 2019, $9,953 and $9,844, respectively, was charged to interest expense as amortization of the discounts, with an unamortized balance of $22,336 at March 31, 2020.

Notes Payable - Schedule of N_2

Notes Payable - Schedule of Notes Payable (Details) (Parenthetical) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Amortization of debt discounts	$ 9,953	$ 9,844
Unsecured Note Payable To Individual Investors [Member]
Debt instrument interest rate	8.00%		8.00%
Debt instrument payment terms	Principal payments equal to 1/12 of original balance plus interest due quarterly.		Principal payments equal to 1/12 of original balance plus interest due quarterly.
Debt instrument maturity date, description	Due from dates ranging from August 9, 2020 to March 26, 2021.		Due from dates ranging from August 9, 2020 to March 26, 2021.
Shares issued during period as incentive for loans				24,050	24,050
Shares issued during period as incentive for loans, value recorded as discount				$ 119,875	$ 119,875
Amortization of debt discounts				$ 119,875	$ 119,875
Interest expense	$ 9,953	$ 9,844
Unamortized debt discount	$ 22,336
Unsecured Note Payable To Individual Investors [Member] | Minimum [Member]
Debt instrument maturity date	Aug. 9, 2020		Aug. 9, 2020
Unsecured Note Payable To Individual Investors [Member] | Maximum [Member]
Debt instrument maturity date	Mar. 26, 2021		Mar. 26, 2021

Notes Payable - Schedule of Out

Notes Payable - Schedule of Outstanding Notes Payable (Details) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Debt Disclosure [Abstract]
Notes payable, beginning of the period	$ 287,378
Amortization of debt discounts	9,953	$ 9,844
Notes payable, end of the period	$ 297,331

Lease Obligations - Schedule of

Lease Obligations - Schedule of Lease Obligations (Details) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Lease obligations	$ 4,025,067	$ 2,400,565
Less current portion	(1,715,134)	(1,416,446)
Long-term portion	$ 2,309,933	$ 984,119

Lease Obligations - Schedule _2

Lease Obligations - Schedule of Outstanding Lease Obligations (Details)	3 Months Ended
	Mar. 31, 2020USD ($)
Leases [Abstract]
Lease obligations, beginning balance	$ 2,400,565
New lease obligations	2,246,285
Payments on lease obligations	(621,783)
Lease obligations, ending balance	$ 4,025,067

Lease Obligations - Schedule _3

Lease Obligations - Schedule of Future Lease Obligations (Details) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Leases [Abstract]
2021	$ 1,906,408
2022	1,270,563
2023	1,185,942
Total payments	4,362,913
Amount representing interest	(337,846)
Lease obligation, net	$ 4,025,067	$ 2,400,565

Stockholders' Equity (Details N

Stockholders' Equity (Details Narrative) - $ / shares	Mar. 31, 2020	Dec. 31, 2019
Equity [Abstract]
Capital stock shares authorized	100,000,000
Common stock shares authorized	90,000,000	90,000,000
Common stock par value	$ 0.000001	$ 0.000001
Preferred stock shares authorized	10,000,000	10,000,000
Preferred stock par value	$ 0.000001	$ 0.000001

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Stock Option Activity (Details)	3 Months Ended
	Mar. 31, 2020USD ($)$ / sharesshares
Equity [Abstract]
Number of Shares Options Outstanding, Beginning Balance | shares	300,000
Number of Options, Granted | shares	1,500,000
Number of Options, Forfeited | shares	(1,084,000)
Number of Options, Exercised | shares
Number of Shares Options Outstanding, Ending Balance | shares	716,000
Number of Shares Options, Exercisable | shares	716,000
Weighted Average Exercise Price Outstanding, Beginning Balance | $ / shares	$ 8
Weighted Average Exercise Price, Granted | $ / shares	4
Weighted Average Exercise Price, Forfeited | $ / shares	4
Weighted Average Exercise Price, Exercised | $ / shares
Weighted Average Exercise Price Outstanding, Ending Balance | $ / shares	5.68
Weighted Average Exercise Price, Exercisable Ending Balance | $ / shares	$ 5.68
Weighted Average Remaining Contractual Life Outstanding, Beginning	1 year
Weighted Average Remaining Contractual Life Outstanding, Ending	1 year 11 months 4 days
Weighted Average Remaining Contractual Life, Exercisable	1 year 11 months 4 days
Aggregate Intrinsic Value Outstanding, Beginning Balance | $
Aggregate Intrinsic Value Outstanding, Ending Balance | $
Aggregate Intrinsic Value Outstanding, Exercisable Ending | $

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Options Outstanding by Exercise Price Range (Details)	Mar. 31, 2020$ / sharesshares
Number of Options Outstanding	716,000
Number of Options Exercisable	716,000
Exercise Price Range One [Member]
Number of Options Outstanding	416,000
Exercise Price Outstanding | $ / shares	$ 4
Number of Options Exercisable	416,000
Exercise Price Exercisable | $ / shares	$ 4
Exercise Price Range Two [Member]
Number of Options Outstanding	300,000
Exercise Price Outstanding | $ / shares	$ 8
Number of Options Exercisable	300,000
Exercise Price Exercisable | $ / shares	$ 8

Stockholders' Equity - Summar_2

Stockholders' Equity - Summary of Warrant Activity (Details)	3 Months Ended
	Mar. 31, 2020USD ($)$ / sharesshares
Equity [Abstract]
Number of Shares, Warrants Outstanding Beginning | shares	1,631,250
Number of Shares, Warrants Granted | shares
Number of Shares, Warrants Forfeited | shares
Number of Shares, Warrants Exercised | shares
Number of Shares, Warrants Outstanding Ending | shares	1,631,250
Number of Shares, Warrants Exercisable Ending | shares	1,631,250
Weighted Average Exercise Price, Warrants Outstanding Beginning | $ / shares	$ 4.08
Weighted Average Exercise Price, Warrants Granted | $ / shares
Weighted Average Exercise Price, Warrants Forfeited | $ / shares
Weighted Average Exercise Price, Warrants Exercised | $ / shares
Weighted Average Exercise Price, Warrants Outstanding Ending | $ / shares	4.08
Weighted Average Exercise Price, Per Share Exercisable | $ / shares	$ 4.08
Weighted Average Remaining Contractual Life, Warrants Outstanding Beginning	3 years 4 months 17 days
Weighted Average Remaining Contractual Life, Warrants Outstanding Ending	3 years 1 month 16 days
Weighted Average Remaining Contractual Life, Warrants Exercisable	3 years 1 month 16 days
Aggregate Intrinsic Value, Warrants Outstanding Beginning | $
Aggregate Intrinsic Value, Warrants Outstanding Ending | $
Aggregate Intrinsic Value, Exercisable | $

Stockholders' Equity - Schedu_2

Stockholders' Equity - Schedule of Warrants Outstanding by Exercise Price Range (Details)	Mar. 31, 2020$ / sharesshares
Number of Warrants Outstanding and Exercisable	1,631,250
Exercise Price Range One [Member]
Number of Warrants Outstanding and Exercisable	1,500,000
Exercise Price Outstanding and Exercisable | $ / shares	$ 4
Exercise Price Range Two [Member]
Number of Warrants Outstanding and Exercisable	131,250
Exercise Price Outstanding and Exercisable | $ / shares	$ 5

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Advertising expense	$ 182,645	$ 125,995
Accounts payable to related party	324,920		$ 394,183
Owed insurance brokerage	204,729		$ 171,665
Chief Executive Officer and Director [Member]
Paid management fees	0	52,000
Paid for consulting agreement amount	167,000	167,000
Advertising expense	32,173	63,727
Insurance expenses paid during period	$ 515,092	$ 511,437

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - USD ($)	Apr. 06, 2020	Apr. 03, 2020	Apr. 02, 2020	Mar. 31, 2020	Dec. 31, 2019
Common stock, par value				$ 0.000001	$ 0.000001
Subsequent Event [Member] | X, LLC [Member]
Repayment of loans borrowed	$ 100,000
Subsequent Event [Member] | Chief Executive Officer and Director [Member]
Repayment of loans borrowed			$ 50,000
Subsequent Event [Member] | Private Investor [Member]
Number of common stock issued, shares		1,428,571
Common stock, par value		$ 0.000001
Purchase price per share		$ 0.07
Proceeds from issuance of common stock		$ 100,000