Shareholders’ Deficit

6 Months Ended

Jun. 30, 2023

Shareholders’ Deficit [Abstract]

Shareholders’ Deficit

Note 6 – Shareholders’ Deficit

Preferred Stock

As of June 30, 2023, the Company had authorized for issuance a total of 1,000,000 shares of preferred stock, par value of $0.0001 per share (“Preferred Stock”). As of June 30, 2023 and December 31, 2022, no shares of Preferred Stock were issued or were outstanding. The Certificate of Incorporation of the Company authorizes the Board of Directors to fix the voting rights, if any, designations, powers, preferences and relative, participating, optional, special, and other rights at the time of issue of any Preferred Stock.

Common Stock

As of June 30, 2023, and December 31, 2022, the Company had 35,102,553 and 34,825,971, respectively, shares of Class A common stock outstanding. As of June 30, 2023 and December 31, 2022, the Company had reserved 5,729,078 and 6,005,660, respectively, shares of Class A common stock for issuance as follows:

	Nature of Reserve	As of June 30, 2023		As of December 31, 2022
a.	Indemnification reserve: Upon the expiration of the indemnification period of two years as described in the Business Combination agreement, subject to the payments of indemnity claims, if any, the Company will issue up to 750,000 shares to former Onyx shareholders		750,000		750,000
b.	EIP reserve: Shares reserved for future issuance under the stockholder approved Parts iD, Inc. 2020 Equity Incentive Plan		2,935,496		3,212,078
c.	ESPP reserve: Shares reserved for future issuance under the stockholder approved Parts iD, Inc. 2020 Employee Stock Purchase Plan		2,043,582		2,043,582
	Total shares reserved for future issuance		5,729,078		6,005,660