Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2022 | Aug. 12, 2022 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001713832 | |
Entity Registrant Name | HyreCar Inc. | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2022 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2022 | |
Document Transition Report | false | |
Entity File Number | 001-38561 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 47-2480487 | |
Entity Address, Address Line One | 915 Wilshire Blvd, Suite 1950 | |
Entity Address, City or Town | Los Angeles | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 90017 | |
City Area Code | 888 | |
Local Phone Number | 688-6769 | |
Title of 12(b) Security | Common Stock, par value $0.00001 per share | |
Trading Symbol | HYRE | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | true | |
Entity Ex Transition Period | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 21,973,648 |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Jun. 30, 2022 | Dec. 31, 2021 |
Assets | ||
Cash and cash equivalents | $ 3,573,595 | $ 11,499,136 |
Restricted cash | 3,111,107 | 3,248,271 |
Accounts receivable | 418,771 | 162,586 |
Insurance and security deposits | 47,897 | 95,000 |
Other current assets | 532,014 | 1,061,520 |
Total current assets | 7,683,384 | 16,066,513 |
Property and equipment, net | 4,044 | 5,265 |
Intangible assets, net | 546,152 | 372,592 |
Right of use assets | 864,413 | 0 |
Total assets | 9,097,993 | 16,444,370 |
Liabilities and Stockholders' Equity (Deficit) | ||
Accounts payable | 4,350,234 | 5,567,233 |
Accrued liabilities | 3,536,145 | 2,877,438 |
Insurance reserve | 2,270,553 | 2,330,190 |
Right of use liabilities (current) | 245,736 | 0 |
Deferred revenue | 52,305 | 52,192 |
Total current liabilities | 10,454,973 | 10,827,053 |
Right of use liabilities | 635,305 | 0 |
Total liabilities | 11,090,278 | 10,827,053 |
Commitments and contingencies (Note 3) | 0 | 0 |
Stockholders' equity (deficit): | ||
Preferred stock, 15,000,000 shares authorized, par value $0.00001, 0 shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively | 0 | 0 |
Common stock, 50,000,000 shares authorized, par value $0.00001, 21,843,648 and 21,609,409 issued and outstanding as of June 30, 2022 and December 31, 2021, respectively | 218 | 216 |
Additional paid-in capital | 77,903,739 | 75,806,853 |
Accumulated deficit | (79,896,242) | (70,189,752) |
Total stockholders' equity (deficit) | (1,992,285) | 5,617,317 |
Total liabilities and stockholders' equity (deficit) | $ 9,097,993 | $ 16,444,370 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Jun. 30, 2022 | Dec. 31, 2021 |
Preferred stock, authorized (in shares) | 15,000,000 | 15,000,000 |
Preferred stock, par value (in dollars per share) | $ 0.00001 | $ 0.00001 |
Preferred stock, issued (in shares) | 0 | 0 |
Preferred stock, outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.00001 | $ 0.00001 |
Common stock, shares authorized (in shares) | 50,000,000 | 50,000,000 |
Common stock, issued (in shares) | 21,843,648 | 21,609,409 |
Common stock, outstanding (in shares) | 21,843,648 | 21,609,409 |
Consolidated Statements of Oper
Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Net Revenue | $ 10,508,180 | $ 9,057,866 | $ 20,058,772 | $ 16,506,266 |
Cost of revenue | 6,795,721 | 8,253,164 | 13,399,342 | 12,969,314 |
Gross profit | 3,712,459 | 804,702 | 6,659,430 | 3,536,952 |
Operating Expenses: | ||||
General and administrative | 4,885,825 | 6,090,899 | 9,432,175 | 11,795,352 |
Sales and marketing | 1,843,751 | 2,875,084 | 4,071,207 | 5,582,275 |
Research and development | 1,367,761 | 1,173,248 | 2,871,571 | 2,699,966 |
Total operating expenses | 8,097,337 | 10,139,231 | 16,374,953 | 20,077,593 |
Operating loss | (4,384,878) | (9,334,529) | (9,715,523) | (16,540,641) |
Other (income) expense | ||||
Interest expense | 0 | 3,893 | 288 | 5,799 |
Other income | (6,671) | (4,062) | (10,121) | (5,545) |
Total other (income) expense | (6,671) | (169) | (9,833) | 254 |
Loss before provision for income taxes | (4,378,207) | (9,334,360) | (9,705,690) | (16,540,895) |
Provision for income taxes | 800 | 800 | 800 | 800 |
Net loss | $ (4,379,007) | $ (9,335,160) | $ (9,706,490) | $ (16,541,695) |
Weighted average shares outstanding - basic and diluted (in shares) | 21,792,707 | 20,521,674 | 21,770,156 | 19,881,584 |
Weighted average net loss per share - basic and diluted (in dollars per share) | $ (0.20) | $ (0.45) | $ (0.45) | $ (0.83) |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity (Deficit) (Unaudited) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2020 | 17,741,713 | |||
Balance at Dec. 31, 2020 | $ 177 | $ 39,725,445 | $ (44,236,035) | $ (4,510,413) |
Stock option compensation (in shares) | 0 | |||
Stock option compensation | $ 0 | 10,770 | 0 | 10,770 |
Restricted stock unit compensation (in shares) | 0 | |||
Restricted stock unit compensation | $ 0 | 5,700,793 | 0 | 5,700,793 |
Stock options exercised (in shares) | 120,372 | |||
Stock options exercised | $ 1 | 114,895 | 0 | 114,896 |
Shares issued for vested restricted stock units (in shares) | 435,845 | |||
Shares issued for vested restricted stock units | $ 4 | (4) | 0 | 0 |
Warrants exercised - cashless (in shares) | 100,879 | |||
Warrants exercised - cashless | $ 1 | (1) | 0 | 0 |
Shares issued for services (in shares) | 12,278 | |||
Shares issued for services | $ 0 | 249,980 | 0 | 249,980 |
Net loss | $ 0 | (16,541,695) | (16,541,695) | |
Warrants exercised for cash (in shares) | 20,232 | |||
Warrants exercised for cash | $ 1 | 64,539 | 0 | 64,540 |
Common stock issued for cash (in shares) | 2,530,000 | |||
Common stock issued for cash | $ 25 | 29,727,475 | 0 | 29,727,500 |
Offering costs | $ 0 | (2,126,305) | 0 | (2,126,305) |
Balance (in shares) at Jun. 30, 2021 | 20,961,319 | |||
Balance at Jun. 30, 2021 | $ 209 | 73,467,587 | (60,777,730) | 12,690,066 |
Balance (in shares) at Mar. 31, 2021 | 20,353,429 | |||
Balance at Mar. 31, 2021 | $ 203 | 71,158,828 | (51,442,570) | 19,716,461 |
Stock option compensation (in shares) | 0 | |||
Stock option compensation | $ 0 | 4,123 | 0 | 4,123 |
Restricted stock unit compensation (in shares) | 0 | |||
Restricted stock unit compensation | $ 0 | 1,939,766 | 0 | 1,939,766 |
Stock options exercised (in shares) | 120,372 | |||
Stock options exercised | $ 1 | 114,895 | 0 | 114,896 |
Shares issued for vested restricted stock units (in shares) | 435,845 | |||
Shares issued for vested restricted stock units | $ 4 | (4) | 0 | 0 |
Warrants exercised - cashless (in shares) | 39,395 | |||
Warrants exercised - cashless | $ 1 | (1) | 0 | 0 |
Shares issued for services (in shares) | 12,278 | |||
Shares issued for services | $ 0 | 249,980 | 0 | 249,980 |
Net loss | $ 0 | (9,335,160) | (9,335,160) | |
Balance (in shares) at Jun. 30, 2021 | 20,961,319 | |||
Balance at Jun. 30, 2021 | $ 209 | 73,467,587 | (60,777,730) | 12,690,066 |
Balance (in shares) at Dec. 31, 2021 | 21,609,409 | |||
Balance at Dec. 31, 2021 | $ 216 | 75,806,853 | (70,189,752) | 5,617,317 |
Restricted stock unit compensation (in shares) | 0 | |||
Restricted stock unit compensation | $ 0 | 2,096,888 | 0 | 2,096,888 |
Shares issued for vested restricted stock units (in shares) | 234,239 | |||
Shares issued for vested restricted stock units | $ 2 | (2) | 0 | $ 0 |
Shares issued for services (in shares) | 13,000 | |||
Shares issued for services | $ 44,200 | |||
Net loss | $ 0 | (9,706,490) | (9,706,490) | |
Balance (in shares) at Jun. 30, 2022 | 21,843,648 | |||
Balance at Jun. 30, 2022 | $ 218 | 77,903,739 | (79,896,242) | (1,992,285) |
Balance (in shares) at Mar. 31, 2022 | 21,761,283 | |||
Balance at Mar. 31, 2022 | $ 218 | 76,986,139 | (75,517,235) | 1,469,122 |
Shares issued for vested restricted stock units (in shares) | 82,365 | |||
Shares issued for vested restricted stock units | $ 0 | 917,600 | 0 | 917,600 |
Net loss | $ 0 | (4,379,007) | (4,379,007) | |
Balance (in shares) at Jun. 30, 2022 | 21,843,648 | |||
Balance at Jun. 30, 2022 | $ 218 | $ 77,903,739 | $ (79,896,242) | $ (1,992,285) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net loss | $ (9,706,490) | $ (16,541,695) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 36,123 | 38,539 |
Stock-based compensation | 2,121,888 | 5,961,543 |
Provision for losses on accounts receivable | 0 | 50,079 |
Changes in operating assets and liabilities: | ||
Accounts receivable | (256,185) | (42,328) |
Insurance and Security deposits | 47,103 | 654,454 |
Other current assets | 529,506 | 103,557 |
Accounts payable | (1,216,999) | 838,775 |
Accrued liabilities | 633,707 | 1,267,927 |
Insurance reserve | (59,637) | (122,557) |
Deferred revenue | 113 | (12,991) |
Right of use assets and liabilities, net | 16,628 | 0 |
Net cash used in operating activities | (7,854,243) | (7,804,697) |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Purchase of intangible assets | (208,462) | 0 |
Net cash used in investing activities | (208,462) | 0 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Proceeds from sale of common stock | 0 | 29,727,500 |
Offering costs associated with public offering | 0 | (2,126,305) |
Proceeds from exercise of stock options | 0 | 114,896 |
Proceeds from exercise of warrants | 0 | 64,540 |
Net cash provided by financing activities | 0 | 27,780,631 |
Increase (decrease) in cash, cash equivalents and restricted cash | (8,062,705) | 19,975,934 |
Cash, cash equivalents and restricted cash | ||
Cash, cash equivalents and restricted cash - beginning of period | 14,747,407 | 4,923,515 |
Cash, cash equivalents and restricted cash - end of period | 6,684,702 | 24,899,449 |
Reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheets | ||
Cash and cash equivalents | 3,573,595 | 24,021,863 |
Restricted cash | 3,111,107 | 877,586 |
Total cash, and cash equivalents and restricted cash to the consolidated balance sheets | 6,684,702 | 24,899,449 |
Supplemental disclosures of cash flow information: | ||
Interest expense | 0 | 0 |
Income taxes | 800 | 800 |
Non-cash investing and financing activities: | ||
Right of use asset and liability | $ 997,109 | $ 0 |
Note 1 - Description of Busines
Note 1 - Description of Business and Basis of Presentation | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | NOTE 1 DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION Organization and Description of Business HyreCar Inc. (which may November 24, 2014 ( Strategic Partnership, Automobile Liability Insurance Program, Uber Agreement and At-The-Market Offering On January 28, 2021, September 30, 2021 November 4, 2021, two On May 20, 2021, 1969 2023 two On July 26, 2021, On November 9, 2021, 415 4 3 3” that was previously declared effective by the SEC. 3 10 3, Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with “U.S. GAAP” and include the accounts of the Company. All significant intercompany balances and transactions have been eliminated. The consolidated balance sheet as of December 31, 2021 not December 31, 2021 10 |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Basis of Presentation and Significant Accounting Policies [Text Block] | NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Management's Plans We have incurred operating losses since inception and historically relied on equity financing for working capital. Throughout the next 12 Use of Estimates The preparation of consolidated financial statements and accompanying notes in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities, and the reported amount of revenue and expenses during the reporting period. Actual results could materially differ from these estimates. It is reasonably possible that changes in estimates will occur in the near term. All significant intercompany accounts and transactions are eliminated upon consolidation. The Company’s most significant estimates and judgments involve recognition of revenue and estimates for insurance reserves, and the measurement of the Company’s stock-based compensation. Fair Value of Financial Instruments Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants as of the measurement date. Applicable accounting guidance provides an established hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in valuing the asset or liability and are developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company's assumptions about the factors that market participants would use in valuing the asset or liability. There are three may Level 1 Level 2 Level 3 no The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Fair-value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of June 30, 2022 and December 31, 2021 . The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values. These financial instruments include cash and cash equivalents, accounts payable, and accrued liabilities. Fair values for these items were assumed to approximate carrying values because of their short-term nature or they are payable on demand. Cash and Cash Equivalents For purpose of the consolidated statement of cash flows, the Company considers institutional money market funds and all highly liquid debt instruments purchased with an original maturity of three Restricted Cash Restricted cash consist primarily of amounts held in a restricted bank account at Cogent Bank as collateral for the amount pledged by the Company to secure a revolving line of credit made by Cogent Bank to AmeriDrive, as well as escrow accounts held for our insurance claims processing partner to pay out claims in a timely fashion. Amounts held in escrow for insurance claims payments are netted against claims payable and not Accounts Receivable Accounts receivable are reported net of allowance for expected losses. It represents the amount management expects to collect from outstanding balances. Differences between the amount due and the amount management expects to collect are charged to operations in the year in which those differences are determined, with an offsetting entry to a valuation allowance. As of June 30, 2022 and December 31, 2021 , the Company has a reserve allowance of $50,079 and $50,079, respectively. Insurance Reserve and Insurance Deposits The Company records a loss reserve for physical damage and other liability coverage caused to owner vehicles up to the Company's insurance deductibles or relevant limits. This reserve represents an estimate for both reported accidents, claims not not March 1, 2021, two June 30, 2022 and December 31, 2021 , $ and $ , respectively, were included in the accompanying consolidated balance sheets, related to the estimated loss reserve, where the expense is included in costs of revenue. For financial presentation purposes, the amount of escrow balance at quarter end is netted against claims payable to our TPA. Effective May 15, 2021, June 15, 2021, none While certain liability claims may third may may may Revenue Recognition The Company generates the majority of its revenue from its car sharing marketplace platform that connects vehicle owners and drivers and the related insurance issued for each rental. Vehicle owners and drivers agree to terms of service with the Company in order to use the HyreCar platform and enter into a rental contract that governs each rental. In entering into a rental agreement, the driver is charged in a single transaction: the base rental fee as agreed upon between the driver and vehicle owner, a 15% HyreCar fee on the base rental fee, and a daily insurance charge (“Insurance and administrative fees”), all based on the number of days the vehicle is to be rented within the contract. HyreCar retains 15%-30% of the base rental fee by offering physical damage protection plans and remits the remaining portion to the vehicle owner. The 15% fee collected from the driver and 15-30% retained from the owner are considered “Transaction Fees” and recorded on a net basis as described below. The Company recognizes revenue daily during the rental periods as the Company is required to maintain insurance underlying the transaction and as a customary business practice, a driver can return a vehicle early for a refund of the unused rental period. Drivers currently do not The Company also recognizes revenue from other sources such as referrals, motor vehicle record fees (application fees), late rental fees, and other fees charged to drivers in specific situations. In applying the guidance of Accounting Standards Codification (“ ASC” ) 606, Refunds may not The following is a breakout of revenue components by subcategory for the three six June 30, 2022 2021 Three Months Ended Three Months Ended Six Months Ended Six Months Ended June 30, June 30, June 30, June 30, 2022 2021 2022 2021 Insurance and administration fees $ 5,753,866 $ 4,659,596 $ 10,899,137 $ 8,407,795 Transaction fees 4,404,319 4,148,061 8,448,458 7,564,782 Other fees 480,223 364,059 952,499 695,386 Incentives and rebates (130,228) (113,850) (241,322) (161,697) Net revenue $ 10,508,180 $ 9,057,866 $ 20,058,772 $ 16,506,266 Principal Agent Considerations The Company evaluates our service offerings to determine if we are acting as the principal or as an agent, which we consider in determining if revenue should be reported gross or net. One of our primary revenue sources is a transaction fee made from a confirmed booking of a vehicle on our platform. Key indicators that we evaluate to reach this determination include: ● the terms and conditions of our contracts; ● whether we are paid a fixed percentage of the arrangement's consideration or a fixed fee for each transaction; ● the party which sets the pricing with the end-user, has the credit risk and provides customer support; and ● the party responsible for delivery/fulfillment of the product or service to the end consumer. We have determined we act as the agent in the transaction for vehicle bookings (Transaction Fees), as we are not For other fees such as insurance, referrals, and motor vehicle records (application fees) we have determined revenue should be recorded on a gross basis. In such arrangements, the Company sets pricing, has risk of economic loss, has certain credit risk, provides support services related to these transactions, and has decision making ability about service providers used. Cost of Revenue Cost of revenue primarily include direct fees paid for insurance to cover the vehicle driver and owner, insurance claim payments and estimated liabilities based on the policy in effect at the time of loss, merchant processing fees, technology and hosting costs, and motor vehicle record fees incurred for paid driver applications. General liability insurance that covers corporate risk from activity on our platform is included in general and administrative costs. Advertising The Company expenses the cost of advertising and marketing as incurred. Advertising and marketing expenses were $1,250,645 and $1,735,482 for the six June 30, 2022 2021 Research and Development We incur research and development costs during the process of researching and developing our technologies and future offerings. Our research and development costs consist primarily of non-capitalized development and maintenance costs. We expense these costs as incurred unless such costs qualify for capitalization under applicable guidance. Stock-Based Compensation The Company accounts for stock awards issued under ASC 718, 718, Stock-based compensation is included in the consolidated statements of operations as follows: Three Months Ended Three Months Ended Six Months Ended Six Months Ended June 30, June 30, June 30, June 30, 2022 2021 2022 2021 General and administrative $ 629,921 $ 1,774,800 $ 1,275,827 $ 4,180,236 Sales and marketing 182,657 252,318 582,851 916,781 Research and development 130,022 166,751 263,210 864,526 $ 942,600 $ 2,193,869 $ 2,121,888 $ 5,961,543 Loss per Common Share The Company presents basic loss per share (“EPS”) and diluted EPS on the face of the consolidated statements of operations. Basic loss per share is computed as net loss divided by the weighted average number of common shares outstanding for the period. For periods in which we incur a net loss, the effects of potentially dilutive securities would be antidilutive and would be excluded from diluted EPS calculations. For the six June 30, 2022 2021 there were 680,255 and 737,326 options and warrants excluded, and 924,372 and 763,219 restricted stock units excluded, respectively. Concentration of Credit Risk The Company maintains its cash with a major financial institution located in the United States of America which it believes to be credit worthy. Balances are insured by the Federal Deposit Insurance Corporation up to $250,000. Other Concentrations The Company has historically relied on a single insurance broker and one two not New Accounting Standards In February 2016, No. 2016 02, 842 840, 842 not twelve 842 veral practical expedients. This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2021 January 1, 2022. ee Other section of Note 3 In December 2019, December 15, 2021, January 1, 2022 not The FASB issues ASUs to amend the authoritative literature in ASC. There have been several ASUs to date, including those above, that amend the original text of ASC. Management believes that those issued to date either (i) provide supplemental guidance, (ii) are technical corrections, (iii) are not not |
Note 3 - Commitments and Contin
Note 3 - Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 3 COMMITMENTS AND CONTINGENCIES Settlement and Legal On August 27, 2021, Baron v. Hyrecar Inc . et al., Case No. 21 06918, 10 20 1934 10b 5 May 14, 2021 August 10, 2021, November 19, 2021, third December 27, 2021, February 16, 2022, not not March 21, 2022. 10b 5, first 2021 April 4, 2022, first April 21, 2022, April 27, 2022, October 20, 2022 December 8, 2022. Other In November 2021, January 1, 2022, January 2022. may 842 January 1, 2022 ( 48 six June 30, 2022 2021 $137,450 and $121,789 We connect drivers and vehicle owners in many tax jurisdictions throughout the United States. After the Supreme Court of the United States decision in South Dakota v. Wayfair Inc. (Wayfair) in June 2018, not may one not |
Note 4 - Debt and Liabilities
Note 4 - Debt and Liabilities | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE 4 DEBT AND LIABILITIES Accrued Liabilities A summary of accrued liabilities as of June 30, 2022 December 31, 2021 June 30, December 31, 2022 2021 Accrued payables $ 2,121,066 $ 1,737,473 Insurance premiums 700,388 333,493 Driver deposit 407,006 336,787 Payroll tax liabilities 230,380 417,493 Other accrued liabilities 77,305 52,192 Accrued liabilities $ 3,536,145 $ 2,877,438 As of June 30, 2022 of incurred but not June 30, 2022 |
Note 5 - Stockholders' Equity (
Note 5 - Stockholders' Equity (Deficit) | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 5 STOCKHOLDERS' EQUITY (DEFICIT) Common Stock The Company is authorized to issue 50,000,000 shares of common stock, $0.00001 par value per share. Equity Incentive Plans In 2016, 2016 “2016 2016 2016 ee, and ten not 2016 In 2018, 2018 “2018 2018 2018 2021. 2018 , ten In 2021, 2021 “2021 2021 2021 2024. 2021 , ten Stock Options, Restricted Stock Units and Shares Issued for Services No six June 30, 2022 2021 six June 30, 2022 2021 June 30, 2022 no A summary of activity with our restricted stock units (“RSUs”) solely with service conditions for the six June 30, 2022 Number of shares Weighted average grant date fair value per share Unvested as of December 31, 2021 769,486 $ 10.46 Granted 478,000 2.12 Vested (234,239 ) 9.53 Forfeited (88,875 ) 8.36 Unvested as of June 30, 2022 924,372 $ 6.55 During the six June 30, 2022 four Stock-based compensation related to restricted stock units for the three June 30, 2022 2021 was $942,600 and $1,939,736, respectively. six June 30, 2022 and 2021 June 30, 2022, In addition to the service condition restricted stock units above, the Company has granted long-term equity incentive performance awards for a fixed monetary amount of $250,000 that will be settled through the issuance of a variable number of restricted stock units. The performance awards vest upon satisfaction of both a four not not June 30, 2022, six June 30, 2022. During the six June 30, 2022 , the Company granted 13,000 shares of common stock as part of an employee severance agreement. The Company recognized stock-based compensation of $44,200 based on the closing price of the Company’s common stock on the date of grant. |
Note 6 - Related Party Transact
Note 6 - Related Party Transactions | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | NOTE 6 RELATED PARTY TRANSACTIONS Insurance The president of the Company’s former primary insurance broker through June 2020 June 30, 2022 and December 31, 2021 , the Company had no six June 30, 2022 2021 , the Company paid the broker approximately $0 and $0, June 15, 2020, no |
Note 7 - Subsequent Events
Note 7 - Subsequent Events | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 7 SUBSEQUENT EVENTS On August 11, 2022, 501 1933, $0.00001 $0.8636, five On August 15, 2022, $15,000,000 On August 15 , 2022, not |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2022 | |
Accounting Policies [Abstract] | |
Management Plans [Policy Text Block] | Management's Plans We have incurred operating losses since inception and historically relied on equity financing for working capital. Throughout the next 12 |
Basis of Presentation and Use of Estimates [Policy Text Block] | Use of Estimates The preparation of consolidated financial statements and accompanying notes in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities, and the reported amount of revenue and expenses during the reporting period. Actual results could materially differ from these estimates. It is reasonably possible that changes in estimates will occur in the near term. All significant intercompany accounts and transactions are eliminated upon consolidation. The Company’s most significant estimates and judgments involve recognition of revenue and estimates for insurance reserves, and the measurement of the Company’s stock-based compensation. |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants as of the measurement date. Applicable accounting guidance provides an established hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in valuing the asset or liability and are developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company's assumptions about the factors that market participants would use in valuing the asset or liability. There are three may Level 1 Level 2 Level 3 no The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Fair-value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of June 30, 2022 and December 31, 2021 . The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values. These financial instruments include cash and cash equivalents, accounts payable, and accrued liabilities. Fair values for these items were assumed to approximate carrying values because of their short-term nature or they are payable on demand. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents For purpose of the consolidated statement of cash flows, the Company considers institutional money market funds and all highly liquid debt instruments purchased with an original maturity of three |
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block] | Restricted Cash Restricted cash consist primarily of amounts held in a restricted bank account at Cogent Bank as collateral for the amount pledged by the Company to secure a revolving line of credit made by Cogent Bank to AmeriDrive, as well as escrow accounts held for our insurance claims processing partner to pay out claims in a timely fashion. Amounts held in escrow for insurance claims payments are netted against claims payable and not |
Accounts Receivable [Policy Text Block] | Accounts Receivable Accounts receivable are reported net of allowance for expected losses. It represents the amount management expects to collect from outstanding balances. Differences between the amount due and the amount management expects to collect are charged to operations in the year in which those differences are determined, with an offsetting entry to a valuation allowance. As of June 30, 2022 and December 31, 2021 , the Company has a reserve allowance of $50,079 and $50,079, respectively. |
Self Insurance Reserve [Policy Text Block] | Insurance Reserve and Insurance Deposits The Company records a loss reserve for physical damage and other liability coverage caused to owner vehicles up to the Company's insurance deductibles or relevant limits. This reserve represents an estimate for both reported accidents, claims not not March 1, 2021, two June 30, 2022 and December 31, 2021 , $ and $ , respectively, were included in the accompanying consolidated balance sheets, related to the estimated loss reserve, where the expense is included in costs of revenue. For financial presentation purposes, the amount of escrow balance at quarter end is netted against claims payable to our TPA. Effective May 15, 2021, June 15, 2021, none While certain liability claims may third may may may |
Revenue [Policy Text Block] | Revenue Recognition The Company generates the majority of its revenue from its car sharing marketplace platform that connects vehicle owners and drivers and the related insurance issued for each rental. Vehicle owners and drivers agree to terms of service with the Company in order to use the HyreCar platform and enter into a rental contract that governs each rental. In entering into a rental agreement, the driver is charged in a single transaction: the base rental fee as agreed upon between the driver and vehicle owner, a 15% HyreCar fee on the base rental fee, and a daily insurance charge (“Insurance and administrative fees”), all based on the number of days the vehicle is to be rented within the contract. HyreCar retains 15%-30% of the base rental fee by offering physical damage protection plans and remits the remaining portion to the vehicle owner. The 15% fee collected from the driver and 15-30% retained from the owner are considered “Transaction Fees” and recorded on a net basis as described below. The Company recognizes revenue daily during the rental periods as the Company is required to maintain insurance underlying the transaction and as a customary business practice, a driver can return a vehicle early for a refund of the unused rental period. Drivers currently do not The Company also recognizes revenue from other sources such as referrals, motor vehicle record fees (application fees), late rental fees, and other fees charged to drivers in specific situations. In applying the guidance of Accounting Standards Codification (“ ASC” ) 606, Refunds may not The following is a breakout of revenue components by subcategory for the three six June 30, 2022 2021 Three Months Ended Three Months Ended Six Months Ended Six Months Ended June 30, June 30, June 30, June 30, 2022 2021 2022 2021 Insurance and administration fees $ 5,753,866 $ 4,659,596 $ 10,899,137 $ 8,407,795 Transaction fees 4,404,319 4,148,061 8,448,458 7,564,782 Other fees 480,223 364,059 952,499 695,386 Incentives and rebates (130,228) (113,850) (241,322) (161,697) Net revenue $ 10,508,180 $ 9,057,866 $ 20,058,772 $ 16,506,266 |
Principal Agent Considerations [Policy Text Block] | Principal Agent Considerations The Company evaluates our service offerings to determine if we are acting as the principal or as an agent, which we consider in determining if revenue should be reported gross or net. One of our primary revenue sources is a transaction fee made from a confirmed booking of a vehicle on our platform. Key indicators that we evaluate to reach this determination include: ● the terms and conditions of our contracts; ● whether we are paid a fixed percentage of the arrangement's consideration or a fixed fee for each transaction; ● the party which sets the pricing with the end-user, has the credit risk and provides customer support; and ● the party responsible for delivery/fulfillment of the product or service to the end consumer. We have determined we act as the agent in the transaction for vehicle bookings (Transaction Fees), as we are not For other fees such as insurance, referrals, and motor vehicle records (application fees) we have determined revenue should be recorded on a gross basis. In such arrangements, the Company sets pricing, has risk of economic loss, has certain credit risk, provides support services related to these transactions, and has decision making ability about service providers used. |
Cost of Goods and Service [Policy Text Block] | Cost of Revenue Cost of revenue primarily include direct fees paid for insurance to cover the vehicle driver and owner, insurance claim payments and estimated liabilities based on the policy in effect at the time of loss, merchant processing fees, technology and hosting costs, and motor vehicle record fees incurred for paid driver applications. General liability insurance that covers corporate risk from activity on our platform is included in general and administrative costs. |
Advertising Cost [Policy Text Block] | Advertising The Company expenses the cost of advertising and marketing as incurred. Advertising and marketing expenses were $1,250,645 and $1,735,482 for the six June 30, 2022 2021 |
Research and Development Expense, Policy [Policy Text Block] | Research and Development We incur research and development costs during the process of researching and developing our technologies and future offerings. Our research and development costs consist primarily of non-capitalized development and maintenance costs. We expense these costs as incurred unless such costs qualify for capitalization under applicable guidance. |
Share-Based Payment Arrangement [Policy Text Block] | Stock-Based Compensation The Company accounts for stock awards issued under ASC 718, 718, Stock-based compensation is included in the consolidated statements of operations as follows: Three Months Ended Three Months Ended Six Months Ended Six Months Ended June 30, June 30, June 30, June 30, 2022 2021 2022 2021 General and administrative $ 629,921 $ 1,774,800 $ 1,275,827 $ 4,180,236 Sales and marketing 182,657 252,318 582,851 916,781 Research and development 130,022 166,751 263,210 864,526 $ 942,600 $ 2,193,869 $ 2,121,888 $ 5,961,543 |
Earnings Per Share, Policy [Policy Text Block] | Loss per Common Share The Company presents basic loss per share (“EPS”) and diluted EPS on the face of the consolidated statements of operations. Basic loss per share is computed as net loss divided by the weighted average number of common shares outstanding for the period. For periods in which we incur a net loss, the effects of potentially dilutive securities would be antidilutive and would be excluded from diluted EPS calculations. For the six June 30, 2022 2021 there were 680,255 and 737,326 options and warrants excluded, and 924,372 and 763,219 restricted stock units excluded, respectively. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentration of Credit Risk The Company maintains its cash with a major financial institution located in the United States of America which it believes to be credit worthy. Balances are insured by the Federal Deposit Insurance Corporation up to $250,000. |
Other Concentrations [Policy Text Block] | Other Concentrations The Company has historically relied on a single insurance broker and one two not |
New Accounting Pronouncements, Policy [Policy Text Block] | New Accounting Standards In February 2016, No. 2016 02, 842 840, 842 not twelve 842 veral practical expedients. This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2021 January 1, 2022. ee Other section of Note 3 In December 2019, December 15, 2021, January 1, 2022 not The FASB issues ASUs to amend the authoritative literature in ASC. There have been several ASUs to date, including those above, that amend the original text of ASC. Management believes that those issued to date either (i) provide supplemental guidance, (ii) are technical corrections, (iii) are not not |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three Months Ended Three Months Ended Six Months Ended Six Months Ended June 30, June 30, June 30, June 30, 2022 2021 2022 2021 Insurance and administration fees $ 5,753,866 $ 4,659,596 $ 10,899,137 $ 8,407,795 Transaction fees 4,404,319 4,148,061 8,448,458 7,564,782 Other fees 480,223 364,059 952,499 695,386 Incentives and rebates (130,228) (113,850) (241,322) (161,697) Net revenue $ 10,508,180 $ 9,057,866 $ 20,058,772 $ 16,506,266 |
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three Months Ended Three Months Ended Six Months Ended Six Months Ended June 30, June 30, June 30, June 30, 2022 2021 2022 2021 General and administrative $ 629,921 $ 1,774,800 $ 1,275,827 $ 4,180,236 Sales and marketing 182,657 252,318 582,851 916,781 Research and development 130,022 166,751 263,210 864,526 $ 942,600 $ 2,193,869 $ 2,121,888 $ 5,961,543 |
Note 4 - Debt and Liabilities (
Note 4 - Debt and Liabilities (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | June 30, December 31, 2022 2021 Accrued payables $ 2,121,066 $ 1,737,473 Insurance premiums 700,388 333,493 Driver deposit 407,006 336,787 Payroll tax liabilities 230,380 417,493 Other accrued liabilities 77,305 52,192 Accrued liabilities $ 3,536,145 $ 2,877,438 |
Note 5 - Stockholders' Equity_2
Note 5 - Stockholders' Equity (Deficit) (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Number of shares Weighted average grant date fair value per share Unvested as of December 31, 2021 769,486 $ 10.46 Granted 478,000 2.12 Vested (234,239 ) 9.53 Forfeited (88,875 ) 8.36 Unvested as of June 30, 2022 924,372 $ 6.55 |
Note 1 - Description of Busin_2
Note 1 - Description of Business and Basis of Presentation (Details Textual) - USD ($) | Nov. 04, 2021 | Jan. 28, 2021 | Nov. 09, 2021 | Sep. 30, 2021 |
Equity Offering Sales Agreement, Aggregate Sales Price Value | $ 50,000,000 | |||
Revolving Credit Facility [Member] | ||||
Debt Instrument, Collateral Amount | $ 3,000,000 | $ 750,000 | $ 1,500,000 | |
Line of Credit Facility, Commitment Fee Percentage | 5% | |||
Debt Instrument, Increase (Decrease) in Collateral Amount | $ 1,500,000 |
Note 2 - Summary of Significa_3
Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($) | 6 Months Ended | ||||
May 15, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | Mar. 01, 2021 | |
Accounts Receivable, Allowance for Credit Loss, Ending Balance | $ 50,079 | $ 50,079 | |||
Escrow Account, Amount Required to be Held for Claim Payments | $ 1,750,000 | ||||
Self Insurance Reserve, Current | 2,270,553 | $ 2,330,190 | |||
Payments for Deposit Premiums, Automobile Liability Insurance Program | $ 1,500,000 | ||||
Payments for Primary and Excess, Automobile Liability Insurance Program | 250,000 | ||||
Advertising Expense | $ 1,250,645 | $ 1,735,482 | |||
Stock Options and Warrants [Member] | |||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 680,255 | 737,326 | |||
Restricted Stock [Member] | |||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 924,372 | 763,219 | |||
Base Rental Fee [Member] | |||||
Minimum Percentage Retained of the Base Rental Fee | 15% | ||||
Maximum Percentage Retained of the Base Rental Fee | 30% | ||||
Transaction Fees [Member] | |||||
Minimum Percentage Retained of the Base Rental Fee | 15% | ||||
Maximum Percentage Retained of the Base Rental Fee | 30% | ||||
CALIFORNIA | |||||
Deposit Premium Requirement, Automobile Liability Insurance Program | $ 300,000 |
Note 2 - Summary of Significa_4
Note 2 - Summary of Significant Accounting Policies - Disaggregation of Revenue (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Revenues | $ 10,508,180 | $ 9,057,866 | $ 20,058,772 | $ 16,506,266 |
Incentives and rebates | (130,228) | (113,850) | (241,322) | (161,697) |
Net revenue | 10,508,180 | 9,057,866 | 20,058,772 | 16,506,266 |
Insurance and Administration Fees [Member] | ||||
Revenues | 5,753,866 | 4,659,596 | 10,899,137 | 8,407,795 |
Transaction Fees [Member] | ||||
Revenues | 4,404,319 | 4,148,061 | 8,448,458 | 7,564,782 |
Other Fees [Member] | ||||
Revenues | $ 480,223 | $ 364,059 | $ 952,499 | $ 695,386 |
Note 2 - Summary of Significa_5
Note 2 - Summary of Significant Accounting Policies - Stock-based Compensation Expense (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Share-Based Payment Arrangement, Expense | $ 942,600 | $ 2,193,869 | $ 2,121,888 | $ 5,961,543 |
General and Administrative Expense [Member] | ||||
Share-Based Payment Arrangement, Expense | 629,921 | 1,774,800 | 1,275,827 | 4,180,236 |
Selling and Marketing Expense [Member] | ||||
Share-Based Payment Arrangement, Expense | 182,657 | 252,318 | 582,851 | 916,781 |
Research and Development Expense [Member] | ||||
Share-Based Payment Arrangement, Expense | $ 130,022 | $ 166,751 | $ 263,210 | $ 864,526 |
Note 3 - Commitments and Cont_2
Note 3 - Commitments and Contingencies (Details Textual) - USD ($) | 6 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jan. 01, 2022 | Dec. 31, 2021 | |
Lessee, Operating Lease, Term of Contract (Month) | 48 months | |||
Lease Deposit Liability | $ 25,563 | |||
Operating Lease, Right-of-Use Asset | 864,413 | $ 997,109 | $ 0 | |
Operating Lease, Expense | 137,450 | $ 121,789 | ||
Minimum [Member] | ||||
Operating Leases, Monthly Rate | 23,394 | |||
Maximum [Member] | ||||
Operating Leases, Monthly Rate | $ 25,563 |
Note 4 - Debt and Liabilities_2
Note 4 - Debt and Liabilities (Details Textual) - USD ($) | Jun. 30, 2022 | Dec. 31, 2021 |
Accrued Payables, Current | $ 2,121,066 | $ 1,737,473 |
Accrued Payroll Taxes, Current | $ 230,380 | $ 417,493 |
Note 4 - Debt and Liabilities -
Note 4 - Debt and Liabilities - Accrued Liabilities (Details) - USD ($) | Jun. 30, 2022 | Dec. 31, 2021 |
Accrued Payables, Current | $ 2,121,066 | $ 1,737,473 |
Insurance premiums | 700,388 | 333,493 |
Driver deposit | 407,006 | 336,787 |
Accrued Payroll Taxes, Current | 230,380 | 417,493 |
Other accrued liabilities | 77,305 | 52,192 |
Accrued liabilities | $ 3,536,145 | $ 2,877,438 |
Note 5 - Stockholders' Equity_3
Note 5 - Stockholders' Equity (Deficit) (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2018 | Dec. 31, 2016 | Dec. 31, 2021 | |
Common Stock, Shares Authorized (in shares) | 50,000,000 | 50,000,000 | 50,000,000 | ||||
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.00001 | $ 0.00001 | $ 0.00001 | ||||
Share-Based Payment Arrangement, Expense | $ 942,600 | $ 2,193,869 | $ 2,121,888 | $ 5,961,543 | |||
Stock Issued During Period, Shares, Issued for Services (in shares) | 13,000 | ||||||
Stock Issued During Period, Value, Issued for Services | 249,980 | $ 44,200 | $ 249,980 | ||||
Share-Based Payment Arrangement, Option [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 0 | 0 | |||||
Restricted Stock Units (RSUs) [Member] | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 478,000 | ||||||
Compensation Expense, Excluding Cost of Good and Service Sold | 942,600 | $ 1,939,736 | $ 2,121,888 | $ 5,700,793 | |||
Share-Based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount | $ 5,353,131 | $ 5,353,131 | |||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 3 years 1 month 6 days | ||||||
Restricted Stock Units (RSUs) [Member] | Share-Based Payment Arrangement, Employee [Member] | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 478,000 | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 4 years | ||||||
Long-term Incentive Performance Award [Member] | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Fixed Monetary Amount Granted | $ 250,000 | ||||||
Share-Based Payment Arrangement, Expense | $ 0 | ||||||
The 2016 Incentive Plan [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award Plan, Expiration Period (Year) | 10 years | ||||||
The 2018 Incentive Plan [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award Plan, Expiration Period (Year) | 10 years |
Note 5 - Stockholders' Equity_4
Note 5 - Stockholders' Equity (Deficit) - Schedule of Black Pricing Model With Range of Inputs (Details) - Restricted Stock Units (RSUs) [Member] | 6 Months Ended |
Jun. 30, 2022 $ / shares shares | |
Unvested, shares (in shares) | shares | 769,486 |
Unvested, Weighted average grant date fair value per share (in dollars per share) | $ / shares | $ 10.46 |
Granted, shares (in shares) | shares | 478,000 |
Granted, Weighted average grant date fair value per share (in dollars per share) | $ / shares | $ 2.12 |
Vested (in shares) | shares | (234,239) |
Vested, Weighted average grant date fair value per share (in dollars per share) | $ / shares | $ 9.53 |
Forfeited or expired, shares (in shares) | shares | (88,875) |
Forfeited or expired, Weighted average grant date fair value per share (in dollars per share) | $ / shares | $ 8.36 |
Unvested, shares (in shares) | shares | 924,372 |
Unvested, Weighted average grant date fair value per share (in dollars per share) | $ / shares | $ 6.55 |
Note 6 - Related Party Transa_2
Note 6 - Related Party Transactions (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2022 | Jun. 30, 2021 |
Due to Related Parties, Current, Total | $ 0 | $ 0 |
Note 7 - Subsequent Events (Det
Note 7 - Subsequent Events (Details Textual) - USD ($) | Aug. 15, 2022 | Aug. 11, 2022 | Jun. 30, 2022 | Dec. 31, 2021 |
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.00001 | $ 0.00001 | ||
Subsequent Event [Member] | Promissory Note [Member] | ||||
Debt Instrument, Face Amount | $ 500,000 | |||
Subsequent Event [Member] | Equity Line of Credit [Member] | ||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 15,000,000 | |||
Subsequent Event [Member] | Purchase Agreement [Member] | ||||
Purchase Agreement, Shares to be Sold (in shares) | 5,789,716 | |||
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.00001 | |||
Purchase Agreement, Shares to be Sold, Price Per Share (in dollars per share) | $ 0.8636 |