Business Combination (Details Narrative) - USD ($) |
3 Months Ended | 9 Months Ended | |||
---|---|---|---|---|---|
Sep. 11, 2020 |
Sep. 30, 2020 |
Sep. 30, 2020 |
Sep. 30, 2019 |
Jul. 17, 2020 |
|
Contingent consideration | $ 1,000,000 | $ 1,000,000 | |||
Fair value of contingent consideration | 245,000 | 245,000 | |||
Gain loss on forgiveness of debt | 15,550,263 | ||||
Interest expense | 164,946 | $ 236,146 | |||
Nonrecurring merger expenses | 17,535 | ||||
Acquisition related costs | $ 17,535 | 17,535 | |||
BlueLA Carsharing, LLC [Member] | |||||
Business consideration description | The consideration by the Purchaser for the acquisition of BlueLA included: (a) a cash payment of $1.00, which was paid to the Seller at closing, and (b) in the event BlueLA timely amends its carsharing services agreement with the City of Los Angeles, California dated January 17, 2017 (the "City of Los Angeles Agreement"), a cash payment to the Seller of $1,000,000, payable within three business days after such amendment ("Contingent Consideration"). The amendment to the City of Los Angeles Agreement must be obtained by BlueLA no later than December 31, 2020, subject to an extension to March 31, 2021 if a representative of the City of Los Angeles indicates to the Purchaser by the December 31, 2020 deadline its approval of the modifications to the City of Los Angeles Agreement, as more particularly outlined in the Agreement. | ||||
Representations and warranties expiration date | Dec. 10, 2021 | ||||
Contingent consideration | $ 245,000 | ||||
Term Sheet [Member] | EV Charging Operator [Member] | |||||
Proceeds from the project | $ 1,760,000 | ||||
Term Sheet [Member] | EV Charging Operator [Member] | Maximum [Member] | |||||
Commitment to invest amount | $ 2,200,000 | ||||
Transition Service Agreement [Member] | Maximum [Member] | BlueLA Carsharing, LLC [Member] | |||||
Parking fees payable | $ 175,000 | ||||
Car Lease Agreement [Member] | |||||
Lease monthly fee | $ 15,000 | ||||
City of Los Angeles Agreement [Member] | BlueLA Carsharing, LLC [Member] | |||||
Agreement description | The initial term of the City of Los Angeles Agreement (defined as approximately six years from the effective date of the City of Los Angeles Agreement), BlueLA shall provide, manage, operate and maintain (i) usage agreements for electric vehicles in a quantity of no less than one hundred (100) (see payment terms of Car Lease Agreement) and (ii) charging stations in a quantity of no less than two hundred (200) at approximately forty (40) locations for an aggregate cost of approximately $20,000 per month. | ||||
Lease renewal term | 2 years | 2 years |