The Company is a holding company operating through its wholly-owned subsidiaries, including Distinct Cars, LLC, a Delaware limited liability company (“Distinct Cars”), Savy LLC, a Delaware limited liability company (“Savy”), Rideyayyo LLC, a Delaware limited liability company (“Rideyayyo”) and Rideshare Car Rentals LLC, a Delaware limited liability company (“Rideshare”).
On August 12, 2017, we announced we were shifting our primary focus in the transportation/ridesharing industry from the development of the Metasearch App. We have no intention of continuing this business direction. As of the date of this Prospectus, the Company’s operating business segments include (i) an online rideshare vehicle booking platform to service the ridesharing economy through Rideshare (the “Rideshare Platform”), and (ii) the leasing of a fleet of standard passenger vehicles to be made commercially available for rent through Distinct Cars (“Fleet Management”). Through the Company’s wholly-owned subsidiaries Rideshare and Distinct Cars, the Company seeks to become the leading provider of a standard rental vehicle and services to drivers in the ridesharing economy.
The Company operations are organized into two business segments across the ridesharing and transportation industry:
Rideshare Platform—On October 31, 2017, the Company created the wholly-owned subsidiary, Rideshare, to incubate the concept of a proprietary transportation network system focused on the developing of a Rideshare marketplace booking platform to rent standard passenger vehicles to self-employed ridesharing drivers. The Company has now deployed and launched the Rideshare Platform on its operating online platform, located at www.Ridesharerental.com. The Rideshare Platform is a proprietary car-rental marketplace that connects the Company’s Fleet Management vehicles, other fleet owners and selected individual car owners with Rideshare drivers seeking rental vehicles.
Fleet Management—On June 10, 2017, the Company formed the wholly-owned subsidiary, Distinct Cars, for purposes of developing a fleet management business. The Fleet Management business focuses on the maintenance of a fleet of brand new standard passenger vehicles, under lease contract with the Company, to be subsequently rented directly to drivers in the ridesharing economy. The Fleet Management business and vehicles are made commercially available through the Company’s Rideshare Platform.
YayYo, Inc. – Recent Financing Activities
As of November 12, 2019, the Company had 26,802,976 shares of common stock issued and outstanding. From January 2018 to June 30, 2019, the Company issued (i) 46,330 shares of common stock under the Regulation A+ Offering (defined below) in exchange for cash proceeds, and (ii) 986,095 shares of restricted common stock, pursuant to following:
- 155,850 shares of restricted common stock were issued in connection with the issuance of notes payable;
- 432,500 shares of restricted common stock were issued for services;
- 99,245 shares of restricted common stock were issued for payment of accounts payable and accrued expenses; and
- 298,500 shares of restricted common stock were issued for a capital lease obligation.
No shares of common stock have been issued since June 30, 2019.
As of November 12, 2019, with the issuances above, we had 26,802,976 shares of common stock issued and outstanding.
Partially as filed with SEC on 11/15/2019.