Stockholders’ Equity

3 Months Ended

Mar. 31, 2023

Equity [Abstract]

Stockholders’ Equity

Note 9 – Stockholders’ Equity

The Company has authorized 100,000,000 shares of capital stock, which 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.

Series B Preferred Stock

There is no outstanding Series B preferred stock as of March 31, 2023.

Common Stock

During the three months ended March 31, 2023, the Company issued 1,500,000 shares of two-year restricted common stock for settlement of a legal dispute with Bellridge Capital, LP. For details, please see Note 12- “Settlements.”

EVmo, Inc.

Notes to Consolidated Financial Statements

For Three Months Ended March 31, 2023 and 2022 (unaudited)

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, 2021		766,750		$	0.53		3.76	$	98,937
Granted		218,000			0.28		4.27		0
Forfeited		(104,750	)
Exercised		(206,250	)		0.215
Outstanding, December 31, 2022		507,500		$	0.45		3.19		161,575
Exercisable, December 31, 2022		673,750		$	0.45		3.19	$	161,575
Granted		0
Forfeited		(166,250	)
Excercised		0
Outstanding, March 31, 2023		507,500		$	0.53		4.74	$	(41,131	)

The exercise price for options outstanding and exercisable at March 31, 2023:

Outstanding			Exercisable
Number of	Exercise		Number of		Exercise
Options	Price		Options		Price
20,000	$	0.21		20,000	$	0.21
102,500		0.215		102,500		0.215
15,000		0.12		15,000		0.12
230,000		0.53		230,000		0.53
20,000		0.94		20,000		0.94
20,000		2.12		20,000		2.12
20,000		3.80		20,000		3.8
20,000		0.39		20,000		0.39
20,000		0.55		20,000		0.55
20,000		0.30		20,000		0.30
20,000		0.36		20,000		0.36
507,500				507,500

No options were granted during the three months ended March 31, 2023.

The fair value of the outstanding stock options is being amortized to stock option expense over the vesting period. The Company recorded stock option expenses of $19,594 and $26,116 during the three months ended March 31, 2023 and 2022, respectively. At March 31, 2023, the unamortized stock option expense was $4,400.

EVmo, Inc.

Notes to Consolidated Financial Statements

For Three Months Ended March 31, 2023 and 202 (unaudited)

Warrants

The following is a summary of warrant activity:

	Warrants Outstanding		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life		Aggregate Intrinsic Value
Outstanding, December 31, 2022		8,847,842	$	1.44		4.21	$	-
Granted		13,840,830		.12		4.87
Forfeited		-
Exercised		-
Outstanding, March 31, 2023		19,048,672	$	.69		4.21	$	-
Exercisable, March 31, 2023		19,048,672	$	.69		4.23	$	-

The exercise price for warrants outstanding at March 31, 2023:

Outstanding and Exercisable
Number of Warrants	Exercise Price
1,500,000	$	4.00
65,625		5.00
65,625		5.00
187,500		3.00
93,750		3.00
93,750		3.00
711,656		1.33
93,750		3.00
93,750		3.00
93,750		3.00
1,174,311		0.71
93,750		3.00
93,750		3.00
93,750		3.00
128,125		0.50
625,000		0.40
13,840,830		0.12
19,048,672

EVmo, Inc.

Notes to Consolidated Financial Statements

For Three Months Ended March 31, 2023 and 2022 (unaudited)