YayYo, Inc.

CIK:0001691077|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Statement [Abstract]
Revenue	$ 3,844,136	$ 2,459,709
Cost of revenue*	3,288,738	1,972,063
Gross profit	555,398	487,646
Operating expenses:
Selling and marketing expenses	94,123	64,336
Product development	44,502	19,000
General and administrative expenses	3,231,409	1,462,325
Total operating expenses	3,370,034	1,545,661
Loss from operations	(2,814,636)	(1,058,015)
Other income (expense):
Interest and financing costs	(998,773)	(452,037)
Other income	673,697
Gain on forgiveness of debt
Total other income (expense)	(325,076)	(452,037)
Net loss	$ (3,139,712)	$ (1,510,052)
Weighted average shares outstanding :
Basic	71,302,649	69,469,399
Diluted	71,302,649	69,469,399
Loss per share
Basic	$ (0.04)	$ (0.02)
Diluted	$ (0.04)	$ (0.02)

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022	Jun. 30, 2022	Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (3,139,712)	$ (1,505,907)	$ (1,201,757)	$ (1,510,052)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	783,268			213,632
Stock option expense	19,594			26,116
Amortization of debt discounts	73,327
Common stock issued for financing costs				32
Preferred stock issued for financing costs
Common stock issued for settlement agreement
Common stock issued for litigation settlement	150,000
Gain on Forgiveness of Debt
Fair value of warrants issued for financing costs
Leased Vehicles	260,368			381,989
Changes in operating assets and liabilities:
Accounts receivable	74,641			(13,028)
Vehicle Deposits	148,562
Prepaid expenses and other assets	(117,701)			405,851
Accounts payable	572,962			(2,112,283)
Accrued expenses	1,022,633			(319,221)
Credit Cards	(18,430)
Customer deposit - related party
Operating lease liability				(39,450)
Net cash used in operating activities	(170,488)			(2,966,414)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment
Net cash used in investing activities
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from sale of common stock				13,834,059
Proceeds from exercise of stock options
Proceeds from advance from related parties
Repayment of advance from related parties
Proceeds from convertible note payable
Proceeds from notes payable, net	1,000,000
Repayment of notes payable*	(93,750)
Redemption of Preferred Stock				(2,303,750)
Repayment of finance lease obligations*	(1,158,524)			(330,969)
Payment of deferred offering costs				862,855
Net cash provided by (used in) financing activities	(252,274)			12,062,195
NET INCREASE (DECREASE) IN CASH	(422,762)			9,095,781
CASH, BEGINNING OF PERIOD	1,702,942		$ 10,949,709	1,853,928
CASH, END OF PERIOD	1,280,180	$ 1,702,942		10,949,709
CASH PAID FOR:
Interest	998,773			328,566
Income taxes	2,886
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING ACTIVITIES
Payment of accounts payable/accrued expenses with common stock				1,103,750
Finance lease obligations	$ 12,516,741			$ 3,658,241

Condensed Consolidated Balance Sheets - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Current Assets:
Cash	$ 1,280,180	$ 1,702,942
Accounts receivable	844,604	919,245
Prepaid expenses	11,733	3,704
Deferred offering costs
Total current assets	2,136,517	2,625,891
Property and equipment, net	158,310	165,781
Rental vehicles, net	20,040,352	20,701,427
Right of use asset
Other assets	2,000,161	2,439,099
TOTAL ASSETS	24,335,340	25,932,197
Current Liabilities:
Accounts payable (including $0 and $207,135 to related party)	2,407,771	1,834,808
Credit Cards	152,724	171,154
Accrued expenses	219,796	217,118
Notes payables, current	625,000	531,250
Accrued Bellridge Settlement, current	300,000
Finance lease obligations, current	4,909,003	4,829,349
Operating lease obligations, current
Total current liabilities	8,614,294	7,583,679
Advance from related parties, non-current		$ 600,000
Other Liability, Noncurrent, Related and Nonrelated Party Status [Extensible Enumeration]	Related Party [Member]	Related Party [Member]
Note payable, net of current portion (net of discount of $879,929 and $953,256)	$ 7,345,071	$ 6,459,244
Finance lease obligations, net of current portion	7,607,738	8,845,919
Accrued Bellridge Settlement, net of current portion	1,295,000
TOTAL LIABILITIES	24,862,103	23,488,842
Commitments and contingencies
Series B Preferred stock, $0.000001 par value;
STOCKHOLDERS’ EQUITY
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; 71,302,649 and 69,469,399 shares issued and outstanding	70	70
Additional paid-in capital	53,412,600	53,244,383
Accumulated deficit	(53,939,433)	(50,801,098)
Total stockholders’ equity	(526,763)	2,443,355
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 24,335,340	$ 25,932,197