Business Combination (Tables)
|
12 Months Ended |
Dec. 31, 2020 |
|---|
| BlueLA Carsharing, LLC [Member] |
|
| Schedule of Assets Acquired and Liabilities Assumed |
The aggregate preliminary purchase price was
allocated to the assets acquired and liabilities assumed as follows:
Purchase price allocation
| Purchase Consideration: |
|
|
|
|
| Cash |
|
$ |
1 |
|
| Assumed liabilities |
|
|
87,860 |
|
| |
|
|
|
|
| Total Purchase Consideration |
|
$ |
87,861 |
|
| |
|
|
|
|
| Less: |
|
|
|
|
| Right of use assets |
|
|
597,812 |
|
| Debt-free net working capital deficit |
|
|
(286,324 |
) |
| Non-current portion of lease liabilities |
|
|
(370,698 |
) |
| |
|
|
|
|
| Fair Value of Identified Net Liabilities |
|
|
(59,210 |
) |
| |
|
|
|
|
| Remaining Unidentified Goodwill Value |
|
$ |
147,071 |
|
The components of debt free net working capital
deficit are as follows:
| Current assets: |
|
|
|
|
| Cash |
|
$ |
3,379 |
|
| Accounts receivable |
|
|
72,599 |
|
| Prepaid expenses and other current assets |
|
|
88,212 |
|
| |
|
|
|
|
| Total current assets |
|
$ |
164,190 |
|
| |
|
|
|
|
| Less current liabilities: |
|
|
|
|
| Accounts payable |
|
|
162,640 |
|
| Current portion of lease liabilities |
|
|
227,114 |
|
| Accrued expenses and other current liabilities |
|
|
60,759 |
|
| |
|
|
|
|
| Total current liabilities |
|
$ |
450,513 |
|
| |
|
|
|
|
| Debt free net working capital deficit |
|
$ |
(286,323 |
) |
|
| Schedule of Proforma Information of Operations |
The pro forma results are not indicative of (i) the
results of operations that would have occurred had the operations of this acquisition actually occurred at the beginning of fiscal year
2019 or (ii) future results of operations.
| |
|
For the Year Ended
December 31, |
|
| |
|
2020 |
|
|
2019 |
|
| |
|
(Unaudited) |
|
|
(Unaudited) |
|
| Revenues |
|
$ |
6,698,868 |
|
|
$ |
3,336,902 |
|
| Net loss |
|
$ |
(20,510,966 |
) |
|
$ |
(18,322,887 |
) |
|
| U-Go Stations, Inc. [Member] |
|
| Schedule of Assets Acquired and Liabilities Assumed |
The aggregate preliminary purchase price was
allocated to the assets acquired and liabilities assumed as follows:
Purchase price allocation
| Purchase Consideration: |
|
|
|
|
| Share consideration |
|
$ |
1,218,767 |
|
| |
|
|
|
|
| Total Purchase Consideration |
|
$ |
1,218,767 |
|
| |
|
|
|
|
| Less: |
|
|
|
|
| Fixed assets |
|
|
418,486 |
|
| Notes payable |
|
|
(165,000 |
) |
| Debt-free net working capital deficit |
|
|
(388,221 |
) |
| |
|
|
|
|
| Fair Value of Identified Net Assets |
|
|
(134,735 |
) |
| |
|
|
|
|
| Remaining Unidentified Goodwill Value |
|
$ |
1,353,502 |
|
The components of debt free net working capital
deficit are as follows:
| Current assets: |
|
|
|
|
| Cash |
|
$ |
30,266 |
|
| Accounts receivable |
|
|
3,000 |
|
| Prepaid expenses and other current assets |
|
|
6,488 |
|
| |
|
|
|
|
| Total current assets |
|
$ |
39,754 |
|
| |
|
|
|
|
| Less current liabilities: |
|
|
|
|
| Accounts payable and accrued expenses |
|
|
427,975 |
|
| |
|
|
|
|
| Total current liabilities |
|
$ |
427,975 |
|
| |
|
|
|
|
| Debt free net working capital deficit |
|
$ |
(388,221 |
) |
|
| Schedule of Proforma Information of Operations |
The pro forma results are not indicative of (i) the
results of operations that would have occurred had the operations of this acquisition actually occurred at the beginning of fiscal year
2019 or (ii) future results of operations.
| |
|
For the Year Ended
December 31, |
|
| |
|
2020 |
|
|
2019 |
|
| |
|
(Unaudited) |
|
|
(Unaudited) |
|
| Revenues |
|
$ |
6,467,706 |
|
|
$ |
2,831,804 |
|
| Net loss |
|
$ |
(18,021,526 |
) |
|
$ |
(9,734,286 |
) |
|