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YAYO

YAYO US Stock
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  • EVmo, Inc. Interview to Air on Bloomberg Television U.S. on the RedChip Money Report

    LOS ANGELES, April 09, 2021 (GLOBE NEWSWIRE) -- EVmo, Inc. (OTC: YAYO), a leading provider of vehicles to the rideshare and delivery gig economy industry, today announced an interview with CEO Stephen Sanchez will air on The RedChip Money Report on the Bloomberg Network in the U.S. on Saturday, April 10 at 7 p.m. local time across the United States. The RedChip Money Report airs on Bloomberg Television U.S. on Saturdays at 7 p.m. local time in 73M homes. To view the interview segment, please visit: https://youtu.be/7ng5M5yyykk. “The RedChip Money Report" delivers insightful commentary on small-cap investing, interviews with Wall Street analysts, financial book reviews, as well as featured interviews with executives of public companies. About EVmo, Inc. EVmo, Inc. bridges the gap between rideshare and "last mile" delivery drivers in need of suitable vehicles and the companies in the rideshare, delivery and logistics businesses that depend on attracting and keeping drivers. EVmo, Inc. is a leading provider of rental vehicles to drivers and delivery companies in this ever-expanding gig economy. The company uniquely supports drivers in both the higher and lower economic categories with innovative policies and programs. The company provides an online rideshare vehicle booking platform to service the ridesharing and delivery gig economy which includes both our owned and maintained passenger and cargo delivery fleet and third party fleets. We also provide fleet management services with our industry leading technology platform to fleet providers. EVmo provides cargo storage vans to the last-mile delivery and logistics industry. The company provides SEC filings, investor events, press and earnings releases about our financial performance on the investor relations section of our website (www.evmo.com). Forward-Looking Statement Disclaimer This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this press release are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," " intend," "plan," "believe," "potential, " "continue," "is/are likely to" or other similar expressions. The company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the company cautions investors that actual results may differ materially from the anticipated results. Investor Relations Contact: Dave GentryRedChip Companies Inc.1-800-RED-CHIP (733-2447)Or 407-491-4498Dave@redchip.com Company ContactEmail: investors@evmo.com For more investor information go to www.Evmo.comEVmo, Inc. Source: EVmo, Inc.

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  • EVmo, Inc. Announces 2020 Results with Record Revenue

    The Company plans for exponential revenue and EBITDA growth in 2021 and beyond Management will host a conference call and webcast on April 7 at 4:30 p.m. ET to discuss results LOS ANGELES, April 06, 2021 (GLOBE NEWSWIRE) -- EVmo, Inc. ("EVmo" or the “Company") (OTC:YAYO), a leading provider of vehicles to the rideshare and delivery gig economy industry, today announced financial results for the year ended December 31, 2020. 2020 Highlights 2020 record revenue, up 10.2% over 2019 to $7.6M, despite COVID-19 shutdownsQ4 2020 record revenue of $2.2M, up 29% from $1.7M in Q4 2019Rented highest number of vehicles in the Company’s historyDeployed 40 electric vehiclesEntered the last-mile logistics space, deploying high-roof cargo vansIncreased line of credit by $2M to $5M “Our record revenue for 2020 is a result of deploying the first phase of our strategic plan, which included cost-cutting measures, increasing the size of our fleet, committing to an all EV strategy, increasing our credit-lines and entering the last mile logistics space. Our capital formation strategy, which includes debt and equity capital, is expected to translate into exponential revenue and EBITDA growth,” commented Stephen Sanchez, CEO. "Although the COVID-19 shutdowns caused our quarterly revenue to decrease in the beginning of the second quarter of 2020 compared to the same period in 2019, we saw positive upward movement in revenue at the end of the second quarter. While I am pleased that revenue for 2020 was up 10.2% year-over-year, I am particularly pleased with our Q4 revenue of $2.2M which was the highest in the Company’s history. We also maintained strong gross margins of 31% making the Company’s core rental operations profitable before taking into account corporate overhead and one-time costs. We expect our gross margins will expand significantly in 2021 as we significantly increase our fleet and transition to an all EV model.” EVmo rents vehicles to customers who are participating in the gig economy. This includes ridesharing and e-commerce platforms. The Company’s technology and expertise allow for a frictionless rental experience, from intake to vehicle return. Focused on executing an environmentally friendly growth strategy, EVmo is adding all electric vehicles (EVs) in current and future North American markets. The type of vehicles on the Company’s platform range from electric passenger vehicles to well-equipped cargo vans that are used by e-commerce delivery providers. Business Model Highlights: As 2021 progresses we anticipate strong revenue contribution of $1,700 per month per additional EV and $1,400 per month per additional cargo van. We will deploy capital to facilitate the purchase of new EVs and cargo vans. The company anticipates scaling to a 25% EBITDA margin. At the margin, every $10 million in debt and or equity capital raised should enable the company to purchase approximately 4,041 vehicles with an 85%/15% Tesla to van mix. This should translate to approximately $80 million in annual revenue for every $10 million capital raised at the margin. EVmo currently has more than 32,000 registered drivers on its platform and is currently in discussions with multiple new and existing lending partners to meet anticipated growth in vehicles. EVmo has leveraged its partnership with best-in-class OEMs in the EV category to build a fleet of EV vehicles at attractive lease terms, receiving best pricing and delivery from multiple OEMs. EVmo has attractive buy back agreements and the option to purchase vehicles at the end of the financing term and has consistently been able to sell vehicles at a gain given the strong residual value relative to attractive initial acquisition price (discount to MSRP). “We are on a mission to rent every car, every day and provide excellent service in the process, and we are committed to an environmentally friendly user platform,” continued Sanchez. "We buy right, maintain high utilization through our maintenance excellence program, and forge key strategic relationships to drive our environmental and economic initiatives. Our plans are bold and aggressive, and 2021 should be a banner year for EVmo.” According to Global Market Insights, the ridesharing market in North America was $4.5 billion in 2019 and expected to grow at a CAGR of 6.5% through 2026. Webcast and Conference Call The Company will host a conference call and webcast to discuss its fiscal year 2020 financial results on Wednesday, April 7, at 4:30 p.m. ET. Shareholders and other interested parties may participate in the conference call by dialing 1-877-407-0784 (U.S. Toll-Free) or 1-201-689-8560 (International) a few minutes before the 4:30 p.m. ET start time. An audio-only webcast is also available by visiting: http://public.viavid.com/index.php?id=144285 For interested individuals unable to join the conference call, a dial-in replay of the call will be available until April 21, 2021 and can be accessed by dialing +1-844-512-2921 (U.S. Toll Free) or +1-412-317-6671 (International) and entering replay pin number: 13718593. About EVmo, Inc. EVmo, Inc. bridges the gap between rideshare and “last mile” delivery drivers in need of suitable vehicles and the companies in the rideshare, delivery and logistics businesses that depend on attracting and keeping drivers. EVmo, Inc. is a leading provider of rental vehicles to drivers and delivery companies in this ever-expanding gig economy. The company uniquely supports drivers in both the higher and lower economic categories with innovative policies and programs. The company provides an online rideshare vehicle booking platform to service the ridesharing and delivery gig economy which includes both our owned and maintained passenger and cargo delivery fleet and third party fleets. We also provide fleet management services with our industry leading technology platform to fleet providers. EVmo provides cargo storage vans to the last-mile delivery and logistics industry. The company provides SEC filings, investor events, press and earnings releases about our financial performance on the investor relations section of our website (www.evmo.com). Forward-Looking Statement Disclaimer This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this press release are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the company cautions investors that actual results may differ materially from the anticipated results. Investor Relations Contact:Dave GentryRedChip Companies Inc. 1-800-RED-CHIP (733-2447)Or 407-491-4498Dave@redchip.com Company ContactEmail: investors@evmo.comFor more investor information go towww.Evmo.com EVmo, Inc.Consolidated Balance SheetsAs of December 31, 2020 and 2019 2020 2019 ASSETS Current Assets: Cash $72,890 $1,256,429 Accounts receivable 119,239 59,331 Prepaid expenses 23,861 782,900 Total current assets 215,990 2,098,660 Equipment, net 1,908 3,395 Rental vehicles, net 6,196,433 4,737,047 Deposit on vehicles - 164,080 Other assets 200,000 200,000 TOTAL ASSETS $6,614,331 $7,203,182 LIABILITIES AND STOCKHOLDERS’ EQUITY Current Liabilities: Accounts payable (including $590,176 and $394,183 to related party) $1,157,299 $545,254 Accrued expenses (including $0 and $171,665 to related party) 961,704 405,977 Notes payables, current (net of discount of $1,973 and $32,289) 666,132 287,378 Customer deposit - related party 150,000 - Advance from related party 100,000 - Finance lease obligations, current 1,426,425 1,416,446 Total current liabilities 4,461,560 2,655,055 Note payable, net of current portion 149,414 - Finance lease obligations, net of current portion 926,453 984,119 TOTAL LIABILITIES 5,537,427 3,639,174 Commitments and contingencies - - STOCKHOLDERS’ EQUITY Preferred stock, $0.000001 par value; 10,000,000 shares authorized; nil shares issued and outstanding - - Common stock, $0.000001 par value; 90,000,000 shares authorized; 31,981,374 and 29,427,803 shares issued and outstanding 32 29 Additional paid-in capital 29,750,864 28,735,894 Accumulated deficit (28,673,992) (25,171,915)Total stockholders’ equity 1,076,904 3,564,008 TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $6,614,331 $7,203,182 EVmo, Inc.Consolidated Statements of OperationsFor the Years Ended December 31, 2020 and 2019 2020 2019 Revenue $7,621,180 $6,914,910 Cost of revenue 5,263,474 4,673,870 Gross profit 2,357,706 2,241,040 Operating expenses: Selling and marketing expenses 490,403 765,441 Product development - 13,500 General and administrative expenses 5,288,316 4,023,921 Loss on the settlement of debt - 252,900 Total operating expenses 5,778,719 5,055,762 Loss from operations (3,421,013) (2,814,722) Other income (expense): Interest and financing costs (265,839) (1,115,499)Gain on forgiveness of debt 184,775 - Total other income (expense) (81,064) (1,115,499) Net loss $(3,502,077) $(3,930,221) Weighted average shares outstanding : Basic 31,118,425 27,112,557 Diluted 31,118,425 27,112,557 Loss per share Basic $(0.11) $(0.14)Diluted $(0.11) $(0.14) EVmo, Inc.Consolidated Statements of Stockholders’ EquityFor the Years Ended December 31, 2020 and 2019 Additional Total Common Stock Paid-in Accumulated Stockholders’ Shares Amount Capital Deficit Equity (Deficit) Balance, December 31, 2018 26,718,676 $27 $19,193,151 $(21,241,694) $(2,048,516) Correction to outstanding shares (173) - - - - Proceeds from the sale of common stock 2,625,000 2 10,499,998 - 10,500,000 Offering costs - - (1,631,655) - (1,631,655)Issuance of common stock for settlement of debt 84,300 - 674,400 - 674,400 Net loss - - (3,930,221) (3,930,221) Balance, December 31, 2019 29,427,803 29 28,735,894 $(25,171,915) 3,564,008 Issuance of common stock for cash 2,553,571 3 274,997 - 275,000 Stock option expense - - 739,973 - 739,973 Net loss - - - (3,502,077) (3,502,077) Balance, December 31, 2020 31,981,374 $32 $29,750,864 $(28,673,992) $1,076,904 EVmo, Inc.Consolidated Statements of Cash FlowsFor the Years Ended December 31, 2020 and 2019 2020 2019 CASH FLOWS FROM OPERATING ACTIVITIES: Net loss $(3,502,077) $(3,930,221)Adjustments to reconcile net loss to net cash provided by (used in) operating activities: Depreciation and amortization 1,436,383 995,228 Stock option expense 739,973 - Common stock issued for services - - Amortization of debt discounts 30,316 39,922 Loss on the settlement of debt - 252,900 Gain on forgiveness of debt (184,775) Changes in operating assets and liabilities: Accounts receivable (59,908) (59,331)Prepaid expenses 759,039 (674,000)Other assets - (200,000)Accounts payable 612,045 (174,132)Accrued expenses 555,727 333,411 Customer deposit - related party 150,000 - Net cash provided by (used in) operating activities 536,723 (3,416,223) CASH FLOWS FROM INVESTING ACTIVITIES: Purchase of vehicles - (225,000)Deposit for vehicles - (164,080)Net cash used in investing activities - (389,080) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from sale of common stock 275,000 10,500,000 Offering costs paid - (1,565,155)Proceeds from advance from related party 250,000 - Repayment of advance from related party (150,000) - Proceeds from notes payable 342,675 2,009,300 Repayment of notes payable (15,486) (4,379,814)Repayment of finance lease obligations (2,422,451) (1,780,043)Net cash provided by (used in) financing activities (1,720,262) 4,784,288 NET INCREASE (DECREASE) IN CASH (1,183,539) 978,985 CASH, BEGINNING OF YEAR 1,256,429 277,444 CASH, END OF YEAR $72,890 $1,256,429 CASH PAID FOR: Interest $185,224 $1,105,049 Income taxes $- $- SUPPLEMENTAL NON-CASH INVESTING AND FINANCING ACTIVITIES Payment of accounts payable/accrued expenses with common stock $- $421,500 Finance lease obligations $3,705,417 $1,159,470

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  • EVmo, Inc Announces Delivery of its first Fleet of Tesla Vehicles Under Its Fleet Partnership with Tesla

    Telsa Fleet Partnership is part of Strategy to become the first U.S. Ride Share Company with an all-EV Fleet.Ahead of Schedule in Converting its Ride Share Fleet to all EV by end of 2021.Received an additional 20 Hyundai Kona EV through its Fleet Partnership with Hyundai.14% of EVmo Fleet and Managed Vehicles are now Electric Vehicles (EV) BEVERLY HILLS, Calif., March 25, 2021 (GLOBE NEWSWIRE) -- EVmo, Inc, formerly YayYo, Inc ("EVmo" or the “Company") (OTC:YAYO), a leading provider of vehicles to the rideshare and delivery gig economy, acting through its wholly-owned subsidiary, Rideshare Car Rentals, LLC, today announced that it has taken delivery of its first fleet of Tesla (NASDAQ:TSLA) vehicles through its Fleet Partnership Agreement. The Company is now ahead of schedule in converting its entire fleet to EV’s by year end 2021. According to Global Market Insights, the ride sharing market in North America was $4.5 billion in 2019 and expected to grow at a CAGR of 6.5% through 2026. EVmo is well-positioned to emerge as a leader in the ride share industry as it executes on an aggressive organic and acquisition growth strategy. Stephen Sanchez, CEO of EVmo, stated, “Our owned fleet and managed fleet are now comprised of 14% electric vehicles (EVs). We are proud to be one of the first Tesla ride share fleet partners in the U.S. Additionally, our ongoing fleet partnership with Hyundai will allow us to meet our timeline of converting our fleet to all Electric Vehicles (EV) by the end of the fourth quarter 2021.” Mr. Sanchez also added, “I believe our business model gives us a competitive advantage over our peers, as we intend to be the first ride share company to convert to all EV’s. Moreover, EVmo, unlike our peers, owns its vehicles and will not be supply chain limited. Also, most importantly, an all-EV fleet will also increase our profit margins.” He concluded, “Drivers clearly embrace EV’s as a preferred choice in vehicles to rent. Drivers see the benefits in gas savings and the benefits of driving green.” The Company’s EVs give drivers a choice of renting to save money on gas and get paid extra by driving green or renting a Tesla and being able to earn more by having the vehicles classed as a higher-end vehicle on Uber and Lyft’s platform. EVmo currently operates in seven markets and supplies vehicles to drivers of Uber, Lyft, DoorDash and Grubhub. About EVmo, Inc. (formerly YayYo, Inc.) EVmo, Inc. bridges the gap between rideshare drivers in need of a suitable vehicle and rideshare companies that depend on attracting and keeping drivers. Rideshare Rental uniquely supports drivers in higher and lower economic categories with innovative vehicle offerings and programs. Rideshare Rental is a leading provider of rental vehicles to drivers in the gig economy. Our wholly owned subsidiary, Rideshare Car Rentals, LLC, is an online rideshare vehicle booking platform created to service the ridesharing, delivery gig economy and the logistics marketplace, which includes both our owned-fleet vehicles and third-party fleet vehicles. Distinct Cars LLC, our other wholly owned subsidiary, maintains a fleet of vehicles that are commercially available for rent by gig-economy drivers and the logistics marketplace. Rideshare Rental provides SEC filings, investor events, press and earnings releases about our financial performance on the investor relations section of our website (EVmo.com) About Tesla Tesla was founded in 2003 by a group of engineers who wanted to prove that people didn’t need to compromise to drive electric – that electric vehicles can be better, quicker and more fun to drive than gasoline cars. Today, Tesla builds not only all-electric vehicles but also infinitely scalable clean energy generation and storage products. Tesla believes the faster the world stops relying on fossil fuels and moves towards a zero-emission future, the better. Launched in 2008, the Roadster unveiled Tesla’s cutting-edge battery technology and electric powertrain. From there, Tesla designed the world’s first ever premium all-electric sedan from the ground up – Model S – which has become the best car in its class in every category. Combining safety, performance, and efficiency, Model S has reset the world’s expectations for the car of the 21st century with the longest range of any electric vehicle, over-the-air software updates that make it better over time, and a record 0-60 mph acceleration time of 2.28 seconds as measured by Motor Trend. In 2015, Tesla expanded its product line with Model X, the safest, quickest and most capable sport utility vehicle in history that holds 5-star safety ratings across every category from the National Highway Traffic Safety Administration. Completing CEO Elon Musk’s “Secret Master Plan,” in 2016, Tesla introduced Model 3, a low-priced, high-volume electric vehicle that began production in 2017. Soon after, Tesla unveiled the safest, most comfortable truck ever – Tesla Semi – which is designed to save owners at least $200,000 over a million miles based on fuel costs alone. In 2019, Tesla unveiled Model Y, a mid-size SUV, with seating for up to seven, and Cybertruck, which will have better utility than a traditional truck and more performance than a sports car. Tesla vehicles are produced at its factory in Fremont, California, and Gigafactory Shanghai. To achieve our goal of having the safest factories in the world, Tesla is taking a proactive approach to safety, requiring production employees to participate in a multi-day training program before ever setting foot on the factory floor. From there, Tesla continues to provide on-the-job training and track performance daily so that improvements can be made quickly. The result is that Tesla’s safety rate continues to improve while production ramps. To create an entire sustainable energy ecosystem, Tesla also manufactures a unique set of energy solutions, Powerwall, Powerpack and Solar Roof, enabling homeowners, businesses, and utilities to manage renewable energy generation, storage, and consumption. Supporting Tesla’s automotive and energy products is Gigafactory 1 – a facility designed to significantly reduce battery cell costs. By bringing cell production in-house, Tesla manufactures batteries at the volumes required to meet production goals, while creating thousands of jobs. And this is just the beginning. With Tesla building its most affordable car yet, Tesla continues to make products accessible and affordable to more and more people, ultimately accelerating the advent of clean transport and clean energy production. Electric cars, batteries, and renewable energy generation and storage already exist independently, but when combined, they become even more powerful – that’s the future we want. Forward-Looking Statement Disclaimer This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this press release are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the company cautions investors that actual results may differ materially from the anticipated results. Investor Relations Contact:Dave GentryRedChip Companies Inc. 1-800-RED-CHIP (733-2447)Or 407-491-4498Dave@redchip.com Public Relations ContactSteve SanchezPhone: 888-209-5643Email: investors@evmo.comFor more investor information go towww.Evmo.com

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  • UPDATE: EVmo, Inc (formerly YayYo, Inc.) Becomes a Tesla Fleet Partner

    EVmo, Inc to Go All Electric by the End of 2021BEVERLY HILLS, Calif., March 10, 2021 (GLOBE NEWSWIRE) -- EVmo, Inc, formerly YayYo, Inc ("EVmo" or the “Company") (OTC:YAYO), a leading provider of vehicles to the rideshare and delivery gig economy industry, acting through its wholly-owned subsidiary, Rideshare Car Rentals, LLC, today announced that it is partaking in a fleet acquisition of Tesla (NASDAQ:TSLA) vehicles, and has committed to go all electric by year end of 2021. Steven Sanchez, CEO of EVmo said, “The future of mobility is electric. Tesla is an obvious choice and we are excited to be one of the first Tesla rideshare fleet partners in the US that will deploy electric vehicles rather than gasoline-powered vehicles, for services like Uber and Lyft. Our EV commitment provides outsized climate benefits. The explosive growth in the gig economy and evidence that it's cannibalizing more climate-friendly mass transit makes it important for EVmo to go all electric. There are a small number of electric vehicles used by drivers, yet electric vehicle adoption is on the rise. We recognize that the timing is right to go electric. The environmental and emission reduction benefits are high for electric vehicle usage by gig economy drivers and we want to be a catalyst for that transition." In recent press, rideshare companies and carmakers are increasing the number of electric vehicles used in the transportation industry. Both Uber and Lyft announced they are going 100% electric vehicles on their platform. General Motors plans to completely phase out vehicles using internal combustion engines by 2035, More than half of GM’s capital spending and product development team will be devoted to electric and electric-autonomous vehicle programs. Ford, VW and Volvo are making a serious play in electric as well. But it’s Tesla that is the unparalleled EV market leader in the world that makes the product such an excellent strategic choice. Further, Mr. Sanchez stated, “We are confident our all electric fleet will drive a successful business model for the future, becoming the first to exclusively deploy electric vehicles (EVs) for the gig economy will position us as a leader in the space and is a natural evolution from our mixed energy fleet. As previously announced, the company deployed 40 electric vehicles (EVs) in December of 2020, as part of a car-sharing program in LA. Since then, we acquired 12 EV’s in February of 2021, and discovered there was a strong demand for them. We were encouraged that they rented quickly. Drivers have given great reviews, and are finding the charging easy. Not only did they save money on gas, which is their biggest cost, they received an additional $0.50 directly from a $1.00 rider surcharge for every Uber Green trip completed. Drivers also found that there was sufficient range and ample charging stations in the LA market where the vehicles were launched. And most importantly, it did not limit the number of rides or deliveries. To diversify our EV fleet, we tested the market with Hyundai Kona Electric units, which offers solid tech and safety features at only $10 more a day for drivers, it more than covered the gas savings.” Sanchez continued, “By EVmo’s acquisition and deployment of electric vehicles, drivers did not have higher up-front costs compared to them having to purchase EV’s. We have 10 Tesla Model 3’s and more Hyundai Kona’s being delivered in the next few weeks and there are plans to establish our EV fleet further through the ordering of more Tesla Model 3’s. We plan on using future funding and resources in a way that supports our EV future plans. Sanchez continued, “The Tesla Model 3 Standard Range Plus is highest rated in every category. It offers Tesla prestige at a lower price, is most technologically advanced and is best in class on range, performance and handling. Equally important is the Tesla supercharger network access. With a range at 263 miles, Tesla Model 3 makes it affordable and profitable for both the driver and us. The drivers get the benefits of the gas savings; plus, they can drive at a higher level both Uber and Lyft’s platform, where they can earn more money." EVmo, Inc. (formerly YayYo, Inc.) EVmo, Inc. bridges the gap between rideshare drivers in need of a suitable vehicle and rideshare companies that depend on attracting and keeping drivers. Rideshare Rental uniquely supports drivers in higher and lower economic categories with innovative vehicle offerings and programs. Rideshare Rental is a leading provider of rental vehicles to drivers in the gig economy. Our wholly-owned subsidiary, Rideshare Car Rentals, LLC, is an online rideshare vehicle booking platform created to service the ridesharing, delivery gig economy and the logistics market place, which includes both our owned-fleet vehicles and third party fleet vehicles. Distinct Cars LLC, our other wholly-owned subsidiary, maintains a fleet of vehicles that are commercially available for rent by gig-economy drivers and the logistics market place. Rideshare Rental provides SEC filings, investor events, press and earnings releases about our financial performance on the investor relations section of our website (EVmo.com) About Tesla Tesla was founded in 2003 by a group of engineers who wanted to prove that people didn’t need to compromise to drive electric – that electric vehicles can be better, quicker and more fun to drive than gasoline cars. Today, Tesla builds not only all-electric vehicles but also infinitely scalable clean energy generation and storage products. Tesla believes the faster the world stops relying on fossil fuels and moves towards a zero-emission future, the better. Launched in 2008, the Roadster unveiled Tesla’s cutting-edge battery technology and electric powertrain. From there, Tesla designed the world’s first ever premium all-electric sedan from the ground up – Model S – which has become the best car in its class in every category. Combining safety, performance, and efficiency, Model S has reset the world’s expectations for the car of the 21st century with the longest range of any electric vehicle, over-the-air software updates that make it better over time, and a record 0-60 mph acceleration time of 2.28 seconds as measured by Motor Trend. In 2015, Tesla expanded its product line with Model X, the safest, quickest and most capable sport utility vehicle in history that holds 5-star safety ratings across every category from the National Highway Traffic Safety Administration. Completing CEO Elon Musk’s “Secret Master Plan,” in 2016, Tesla introduced Model 3, a low-priced, high-volume electric vehicle that began production in 2017. Soon after, Tesla unveiled the safest, most comfortable truck ever – Tesla Semi – which is designed to save owners at least $200,000 over a million miles based on fuel costs alone. In 2019, Tesla unveiled Model Y, a mid-size SUV, with seating for up to seven, and Cybertruck, which will have better utility than a traditional truck and more performance than a sports car. Tesla vehicles are produced at its factory in Fremont, California, and Gigafactory Shanghai. To achieve our goal of having the safest factories in the world, Tesla is taking a proactive approach to safety, requiring production employees to participate in a multi-day training program before ever setting foot on the factory floor. From there, Tesla continues to provide on-the-job training and track performance daily so that improvements can be made quickly. The result is that Tesla’s safety rate continues to improve while production ramps. To create an entire sustainable energy ecosystem, Tesla also manufactures a unique set of energy solutions, Powerwall, Powerpack and Solar Roof, enabling homeowners, businesses, and utilities to manage renewable energy generation, storage, and consumption. Supporting Tesla’s automotive and energy products is Gigafactory 1 – a facility designed to significantly reduce battery cell costs. By bringing cell production in-house, Tesla manufactures batteries at the volumes required to meet production goals, while creating thousands of jobs. And this is just the beginning. With Tesla building its most affordable car yet, Tesla continues to make products accessible and affordable to more and more people, ultimately accelerating the advent of clean transport and clean energy production. Electric cars, batteries, and renewable energy generation and storage already exist independently, but when combined, they become even more powerful – that’s the future we want. Forward-Looking Statement Disclaimer This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this press release are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the company cautions investors that actual results may differ materially from the anticipated results. Public Relations ContactSteve SanchezPhone: 888-209-5643Email: investors@evmo.comFor more investor information go towww.Evmo.com

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  • Rideshare vehicle provider EVmo, formerly YayYo, takes part in fleet acquisition of Tesla EVs

    Rideshare vehicle provider EVmo Inc., formerly known as YayYo Inc. , said Wednesday that through its subsidiary Rideshare Car Rentals LLC it is taking part in a fleet acquisition of Tesla Inc. vehicles. The move was part of EVmo's new commitment to go all electric by the end of 2021. Shares of Tesla surged 3.8% in premarket trading, after soaring 19.6% on Tuesday to snap a five-day losing streak in which they shed 21.6%. EVmo shares were still inactive ahead of the open, while futures for the S&P 500 rose 0.5%. "The future of mobility is electric. Tesla is an obvious choice and we are excited to be one of the first Tesla rideshare fleet partners in the US that will deploy electric vehicles rather than gasoline-powered vehicles, for services like Uber and Lyft," said EVmo Chief Executive Steven Sanchez.

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  • EVmo, Inc formerly YayYo, Inc, announces a Fleet Acquisition of Tesla Vehicles

    EVmo, Inc to go all electric by the end of 2021 BEVERLY HILLS, Calif., March 10, 2021 (GLOBE NEWSWIRE) -- EVmo, Inc, formerly YayYo, Inc ("EVmo" or the “Company") (OTC:YAYO), a leading provider of vehicles to the rideshare and delivery gig economy industry, acting through its wholly-owned subsidiary, Rideshare Car Rentals, LLC, today announced that it is partaking in a fleet acquisition of Tesla (NASDAQ:TSLA) vehicles, and has committed to go all electric by year end of 2021. Steven Sanchez, CEO of EVmo said “The future of mobility is electric. Tesla is an obvious choice and we are excited to be one of the first Tesla rideshare fleet partners in the US that will deploy electric vehicles rather than gasoline-powered vehicles, for services like Uber and Lyft. Our EV commitment provides outsized climate benefits. The explosive growth in the gig economy and evidence that it's cannibalizing more climate-friendly mass transit makes it important for EVmo to go all electric”. There are a small number of electric vehicles used by drivers, yet electric vehicle adoption is on the rise. We recognize that the timing is right to go electric. The environmental and emission reduction benefits are high for electric vehicle usage by gig economy drivers and we want to be a catalyst for that transition. In recent press, rideshare companies and carmakers are increasing the number of electric vehicles used in the transportation industry. Both Uber and Lyft announced they are going 100% electric vehicles on their platform. General Motors plans to completely phase out vehicles using internal combustion engines by 2035, More than half of GM’s capital spending and product development team will be devoted to electric and electric-autonomous vehicle programs. Ford, VW and Volvo are making a serious play in electric as well. But it’s Tesla that is the unparalleled EV market leader in the world that makes the product such an excellent strategic choice. Further, Mr. Sanchez stated, “We are confident our all electric fleet will drive a successful business model for the future, becoming the first to exclusively deploy electric vehicles (EVs) for the gig economy will position us as a leader in the space and is a natural evolution from our mixed energy fleet.” As previously announced, the company deployed 40 electric vehicles (EVs) in December of 2020, as part of a car-sharing program in LA. Since then, we acquired 12 EV’s in February of 2021, and discovered there was a strong demand for them. We were encouraged that they rented quickly.” Drivers have given great reviews, and are finding the charging easy. Not only did they save money on gas, which is their biggest cost, they received an additional $0.50 directly from a $1.00 rider surcharge for every Uber Green trip completed. Drivers also found that there was sufficient range and ample charging stations in the LA market where the vehicles were launched. And most importantly, it did not limit the number of rides or deliveries. To diversify our EV fleet, we tested the market with Hyundai Kona Electric units, which offers solid tech and safety features at only $10 more a day for drivers, it more than covered the gas savings.” Sanchez continued, “By EVmo’s acquisition and deployment of electric vehicles, drivers did not have higher up-front costs compared to them having to purchase EV’s . We have 10 Tesla Model 3’s and more Hyundai Kona’s being delivered in the next few weeks and there are plans to establish our EV fleet further through the ordering of more Tesla Model 3’s. We plan on using future funding and resources in a way that supports our EV future plans. Sanchez continued “The Tesla Model 3 Standard Range Plus is highest rated in every category. It offers Tesla prestige at a lower price, is most technologically advanced and is best in class on range, performance and handling. Equally important is the Tesla supercharger network access. With a range at 263 miles, Tesla Model 3 makes it affordable and profitable for both the driver and us. The drivers get the benefits of the gas savings; plus, they can drive at a higher level both Uber and Lyft’s platform, where they can earn more money. EVmo, Inc. (formerly YayYo, Inc.) EVmo, Inc. bridges the gap between rideshare drivers in need of a suitable vehicle and rideshare companies that depend on attracting and keeping drivers. Rideshare Rental uniquely supports drivers in higher and lower economic categories with innovative vehicle offerings and programs. Rideshare Rental is a leading provider of rental vehicles to drivers in the gig economy. Our wholly-owned subsidiary, Rideshare Car Rentals, LLC, is an online rideshare vehicle booking platform created to service the ridesharing, delivery gig economy and the logistics market place, which includes both our owned-fleet vehicles and third party fleet vehicles. Distinct Cars LLC, our other wholly-owned subsidiary, maintains a fleet of vehicles that are commercially available for rent by gig-economy drivers and the logistics market place. Rideshare Rental provides SEC filings, investor events, press and earnings releases about our financial performance on the investor relations section of our website (EVmo.com) About Tesla Tesla was founded in 2003 by a group of engineers who wanted to prove that people didn’t need to compromise to drive electric – that electric vehicles can be better, quicker and more fun to drive than gasoline cars. Today, Tesla builds not only all-electric vehicles but also infinitely scalable clean energy generation and storage products. Tesla believes the faster the world stops relying on fossil fuels and moves towards a zero-emission future, the better.Launched in 2008, the Roadster unveiled Tesla’s cutting-edge battery technology and electric powertrain. From there, Tesla designed the world’s first ever premium all-electric sedan from the ground up – Model S – which has become the best car in its class in every category. Combining safety, performance, and efficiency, Model S has reset the world’s expectations for the car of the 21st century with the longest range of any electric vehicle, over-the-air software updates that make it better over time, and a record 0-60 mph acceleration time of 2.28 seconds as measured by Motor Trend. In 2015, Tesla expanded its product line with Model X, the safest, quickest and most capable sport utility vehicle in history that holds 5-star safety ratings across every category from the National Highway Traffic Safety Administration. Completing CEO Elon Musk’s “Secret Master Plan,” in 2016, Tesla introduced Model 3, a low-priced, high-volume electric vehicle that began production in 2017. Soon after, Tesla unveiled the safest, most comfortable truck ever – Tesla Semi – which is designed to save owners at least $200,000 over a million miles based on fuel costs alone. In 2019, Tesla unveiled Model Y, a mid-size SUV, with seating for up to seven, and Cybertruck, which will have better utility than a traditional truck and more performance than a sports car. Tesla vehicles are produced at its factory in Fremont, California, and Gigafactory Shanghai. To achieve our goal of having the safest factories in the world, Tesla is taking a proactive approach to safety, requiring production employees to participate in a multi-day training program before ever setting foot on the factory floor. From there, Tesla continues to provide on-the-job training and track performance daily so that improvements can be made quickly. The result is that Tesla’s safety rate continues to improve while production ramps. To create an entire sustainable energy ecosystem, Tesla also manufactures a unique set of energy solutions, Powerwall, Powerpack and Solar Roof, enabling homeowners, businesses, and utilities to manage renewable energy generation, storage, and consumption. Supporting Tesla’s automotive and energy products is Gigafactory 1 – a facility designed to significantly reduce battery cell costs. By bringing cell production in-house, Tesla manufactures batteries at the volumes required to meet production goals, while creating thousands of jobs. And this is just the beginning. With Tesla building its most affordable car yet, Tesla continues to make products accessible and affordable to more and more people, ultimately accelerating the advent of clean transport and clean energy production. Electric cars, batteries, and renewable energy generation and storage already exist independently, but when combined, they become even more powerful – that’s the future we want. Forward-Looking Statement Disclaimer This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this press release are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the company cautions investors that actual results may differ materially from the anticipated results. Public Relations Contact Steve SanchezPhone: 888-209-5643Email: investors@evmo.comFor more investor information go towww.Evmo.com

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  • EVmo, Inc., Formerly YayYo, Inc., Announces that Acuitas Group Holdings, LLC, has closed the transaction with, X, LLC and has become the Largest and Controlling Stockholder in the Company

    Terren Peizer, Sole Owner of Acuitas Group Holdings, LLC, is now Executive Chairman of the Board of Directors Stephen M. Sanchez, is now Chief Executive Officer Mr. Peizer has started the process of up listing the Company’s Common Stock to the Nasdaq Capital Market The company has changed its name to EVmo, Inc BEVERLY HILLS, Calif., March 03, 2021 (GLOBE NEWSWIRE) -- RideShare Rental, Inc., formerly YayYo, Inc. (“EVmo” or the “Company”) (OTC:YAYO), which, acting through its wholly-owned subsidiary, Rideshare Car Rentals, LLC, is a leading provider of vehicles to the rideshare and delivery gig economy industry, today announced that Acuitas Group Holdings, LLC, has completed the transaction in which, among other things, X, LLC sold to Acuitas 6,000,000 shares of EVmo common stock, which, in combination with its current holdings, will result in Acuitas becoming the Company’s largest and controlling stockholder. Mr. Terren Peizer, Acuitas' Sole Member has become Executive Chairman of the company. Mr. Stephen M. Sanchez will serve as the Company’s Chief Executive Officer. The board has been expanded to 7 from 5. Mr. Peizer will nominate three board members to the board. In addition, Mr. Peizer has started the process of up listing of Evmo’s common stock to the Nasdaq Stock Market. The company has engaged Loeb & Loeb, LLP to file the S1 for a small raise to meet the Nasdaq listing requirements. The company will file an application to list its common shares on the NASDAQ capital market. The company will endeavor to finance most of its growth with debt capital which should result in enhanced shareholder value given the EBITDA positive business model of the company. The infusion of capital will fund continued revenue growth in all business segments and establish partnerships that will help propel the company to accelerated growth. The company has also changed its name to EVmo, Inc and will apply with FINRA to change its symbol to (EVMO). Mr. Peizer commented, “This Company has an exciting future and I see a lot of opportunities for growth based upon increased market demand for rideshare, logistics, and electric vehicles (EV). The name change of the company to EVmo, Inc (Electric Vehicle Mobility) reflects our new company direction and ambition. The additional capital that will be raised will help us ramp up our fleet of standard passenger vehicles and vans for the logistics market. We will let combustion engine vehicles roll off and replace them with electric vehicles (EV) to continue to build out the company’s expansion. Over the coming year, we will become a pure EV company.” Further, Mr. Peizer stated, “The expansion of EVmo into electric vehicles (EV) will take us to the natural next evolutionary stage of rideshare. We continue to see very strong demand by drivers for Uber, Lyft, Grubhub, Postmates, and other gig economy platforms for vehicles and especially now for electric vehicles (EV).” On Wednesday, the 13th of January 2021, Uber announced that it was expanding its electric vehicle and hybrid ride options to over 1,400 cities in the U.S. and Canada. Riders can now opt for the lower emission "green trip" option. Uber CEO Dara Khosrowshahi pledged that: 1) every vehicle on its platform will be electric by 2040, and 2) the company would contribute $800 million through 2025 to help drivers switch to battery-powered vehicles. "This 2025 commitment is part of our longer-term strategy to go 100% electric in all major cities in the U.S., Canada, and Europe by 2030, and 100% electric in all cities around the world by 2040." Uber said drivers will receive an extra $0.50 directly from a $1 rider surcharge for every Uber Green trip completed. The company’s plan to reduce emissions follows years of criticism by environmental groups and city officials over the pollution and congestion caused by some of its existing fleet. Most recently, Lyft announced a goal in June to have 100% electric vehicles (or other zero-emissions models) on its platform by 2030. Electric vehicle adoption in ride-hailing is challenging, because the vast majority of vehicles are driver-owned and electric vehicles currently have higher up-front costs. EVmo’s strategy is to purchase these EVs and in turn rent them to drivers at a much lower up-front cost. The company is hopeful that entering this market will lead to cooperative deals with ride haling companies. Mr. Peizer continued: “EVmo launched the first 40 EV vehicles as part of a car sharing program in December 2020. LA is our first market for the EV car sharing program and we anticipate that we will continue to expand through the country. The EV car share is being subsidized by our partner which helped us get into the EV space profitably. We anticipate seeing this program grow to thousands of cars in the next 24 months.” Mr. Sanchez said, “I look forward to leveraging my experience in logistics and continue building a team that will help build our gig economy, logistics and EV strategy. I feel we can build many strategic advantages that will help the company continue its growth. The last mile delivery market of small parcels is expected to continue to grow in double-digits through 2023. The expansion of EVmo supplying vehicles into this space is expected to help fill some of the current demand, expand our revenue growth and continue to diversify the company’s revenue mix. I am especially excited to see how quickly the company is jumping into the electric vehicle (EV).” About Terren Peizer and Acuitas Group Holdings, LLC Mr. Peizer is a highly successful entrepreneur and investor, having founded and successfully commercialized many companies. Mr. Peizer is the Founder, Board Chairman, CEO and majority stockholder of Ontrak Inc., a leading AI and telehealth-enabled, virtualized healthcare treatment company. Mr. Peizer is also the Board Chairman, CEO and majority shareholder of BioVie, Inc., which is the industry leader in the development of two orphan drug candidates for the treatment of rare liver diseases. In addition, Mr. Peizer is Founder, Chairman and CEO and majority shareholder of 4 privately held companies. Mr. Peizer was Chairman of Cray inc. having bought the company from Silicon Graphics for assumption of debt which was recently sold to Hewlett Packard for approximately $1.4 billion. Mr. Peizer is Chairman and sole shareholder of Acuitas, his personal investment holding company. In addition, Mr. Peizer has held senior executive positions at Goldman, Sachs &Co, First Boston, and Drexel Burnham Lambert. About Stephen M. Sanchez Stephen M. Sanchez has been the Company's Board Chairman since January 2020. He has over 30 years of experience in the logistics industry, particularly in the design, implementation and operation of last-mile delivery services. Since November 2019, Mr. Sanchez has served as the CEO of PDQ Pickup, which he joined in August 2019 as Chief Operating Officer. Previously, from January 2018 until August 2019, he was Senior Vice President of Operations and Business Development for Boxbot, Inc., a robotics company focusing on the development and sale of autonomous last-mile delivery vehicles, and from November 2015 until January 2018, he was senior manager of Final Mile Process Engineering for Amazon, Inc. Mr. Sanchez is also a veteran of the U.S. Navy. EVmo, Inc. (formerly YayYo, Inc.) EVmo, Inc. bridges the gap between rideshare drivers in need of a suitable vehicle and rideshare companies that depend on attracting and keeping drivers. Rideshare Rental uniquely supports drivers in both the higher and lower economic categories with innovative policies and programs. Rideshare Rental is a leading provider of rental vehicles to drivers in the ever-expanding gig economy. Our wholly owned subsidiary, Rideshare Car Rentals, LLC, is an online rideshare vehicle booking platform created to service the ridesharing, delivery gig economy and the logistics market place, which includes both our owned-fleet vehicles and third party fleet vehicles. Distinct Cars LLC, our other wholly owned subsidiary, maintains a fleet of vehicles that are commercially available for rent by gig-economy drivers and the logistics marketplace. Rideshare Rental provides SEC filings, investor events, press and earnings releases about our financial performance on the investor relations section of our website (EVmo.com) The transactions described herein constitute “related party transactions” under current SEC rules and regulations. Forward-Looking Statement Disclaimer This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this press release are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. The company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the company cautions investors that actual results may differ materially from the anticipated results. Public Relations ContactSteve SanchezPhone: 888-209-5643Email: investors@Evmo.comFor more investor information go towww.Evmo.com

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  • Rideshare Rental, Inc., Formerly YayYo, Inc., Announces That Acuitas Group Holdings, LLC, Will Become the Largest and Controlling Stockholder in the Company

    Terren Peizer, Sole Owner of Acuitas Group Holdings, LLC, Will be Appointed as Executive Chairman of the Board of Directors of Rideshare Rental, Inc. Stephen M. Sanchez, Current Board Chairman, Will be Appointed as Chief Executive Officer Mr. Peizer Will Focus to Uplist the Company’s Common Stock Immediately BEVERLY HILLS, Calif., Feb. 04, 2021 (GLOBE NEWSWIRE) -- Rideshare Rental, Inc., formerly YayYo, Inc. (“RSR” or the “Company”) (OTC:YAYO), which, acting through its wholly-owned subsidiary, Rideshare Car Rentals, LLC, is a leading provider of vehicles to the rideshare and delivery gig economy industry, today announced that its Chief Executive Officer, Ramy El-Batrawi, acting through his holding company X, LLC, has entered into an agreement with Acuitas Group Holdings, LLC, in which, among other things, X, LLC will sell to Acuitas 6,000,000 shares of RSR common stock, which, in combination with its current holdings, will result in Acuitas becoming the Company’s controlling stockholder (the “Agreement”) with 10,055,512 shares. Also pursuant to the Agreement, which is subject to review and approval by the Company’s Board of Directors (the “Board”), Mr. Terren Peizer, Acuitas' Sole Member will be nominated as Executive Chairman of the company. The Agreement also provides that current Board Chairman Mr. Stephen M. Sanchez will step down from that position in favor of Mr. Peizer but will be nominated to serve as the Company’s Chief Executive Officer. Mr. Sanchez currently serves as Chief Executive Officer of PDQ Pickup LLC, a company engaged in the moving and logistics industry (“PDQ Pickup”). As part of the Agreement, XLLC will sell a portion of its minority stake in PDQ Pickup to Acuitas. In addition, Mr. Peizer will immediately, focus, and work to affect an uplisting of RSR’s common stock from the over-the-counter market (“OTC”) to either the New York Stock Exchange or the Nasdaq Stock Market. Mr. Sanchez is expected to work closely with Mr. Peizer to achieve this goal. The transactions contemplated by the Agreement are expected to close on or around February 15. Mr. El-Batrawi will resign as both CEO and a member of the Board, effective either February 15 or upon the Board’s action to appoint Messrs. Peizer and Sanchez to their new roles, whichever is sooner. Mr. El-Batrawi commented, “I am very pleased with this transaction, which I believe will provide RSR with a majority stockholder in Acuitas that shares our historic commitment to technology, customers and employees and can immediately add strategic and operational value.” As Founder, Chairman, CEO, and majority stockholder of his two public companies, OnTrak, Inc. and BioVie, Inc, Terren Peizer has created approximately $2.5 billion in enterprise value. Mr. Peizer owns 4 other private companies that potentially have even greater value than the two public companies. Commenting on the Agreement, Mr. Peizer said, “Rideshare Rental is a solid business that is gaining operational momentum. I am excited by the future opportunities presented by all three of its operating segments, Rideshare, Logistics, and Electric Vehicles. I look forward to helping nurture RSR’s core businesses, supporting and anticipating the diverse needs of the Company’s customers, and driving new opportunities for innovation. We are on a positive growth trajectory and are very well-positioned to continue building on our strong momentum. I am excited to work with our entire senior leadership team to ensure a seamless transition and continue RSR’s next phase of growth and market leadership. I am committed to the people at RSR and the Company’s core values and intend to focus on delivering enhanced value to shareholders. To that end, one of my and Steve Sanchez's priorities will be to uplist the Company’s common stock to a national securities exchange as soon as possible.” Mr. El-Batrawi commented, “Steve Sanchez brings a wealth of expertise to his new role. Steve is a proven senior executive and a strong strategic thinker. He has done an outstanding job over the past several years in all his corporate leadership positions.” Mr. Sanchez said, “We at Rideshare Rental are grateful to Ramy El-Batrawi for his role in founding the Company and thankful for his service as CEO. He has been an exemplary leader, with a steadfast commitment to driving RSR’s business and building on our strong foundation. We appreciate his effective stewardship. I look forward to leveraging our strategic advantages and helping the company continue its undeniable growth. I also share Terren Peizer’s commitment to enhance shareholder value. About Terren Peizer and Acuitas Group Holdings, LLC Mr. Peizer is a highly successful entrepreneur and investor, having founded and successfully commercialized many companies. Mr. Peizer is the Founder, Board Chairman, CEO and majority stockholder of Ontrak Inc., a leading AI and telehealth-enabled, virtualized healthcare treatment company. Mr. Peizer is also the Board Chairman, CEO and majority shareholder of BioVie, Inc., which is the industry leader in the development of two orphan drug candidates for the treatment of rare liver diseases. In addition, Mr. Peizer is Founder, Chairman and CEO and majority shareholder of 4 privately held companies. Mr. Peizer was Chairman of Cray inc. having bought the company from Sillicon Graphics for assumption of debt which was recently sold to Hewlett Packard for approximately $1.4 billion. Mr. Peizer is Chairman and sole shareholder of Acuitas, his personal investment holding company. In addition, Mr. Peizer has held senior executive positions at Goldman, Sachs &Co, First Boston, and Drexel Burnham Lambert. About Stephen M. Sanchez Stephen M. Sanchez has been the Company's Board Chairman since January 2020. He has over 30 years of experience in the logistics industry, particularly in the design, implementation and operation of last-mile delivery services. Since November 2019, Mr. Sanchez has served as the CEO of PDQ Pickup, which he joined in August 2019 as Chief Operating Officer. Previously, from January 2018 until August 2019, he was Senior Vice President of Operations and Business Development for Boxbot, Inc., a robotics company focusing on the development and sale of autonomous last-mile delivery vehicles, and from November 2015 until January 2018, he was senior manager of Final Mile Process Engineering for Amazon, Inc. Mr. Sanchez is also a veteran of the U.S. Navy. About Rideshare Rental, Inc. (formerly YayYo, Inc.) Rideshare Rental, Inc. bridges the gap between rideshare drivers in need of a suitable vehicle and rideshare companies that depend on attracting and keeping drivers. Rideshare Rental uniquely supports drivers in both the higher and lower economic categories with innovative policies and programs. Rideshare Rental is a leading provider of rental vehicles to drivers in the ever-expanding gig economy. Our wholly-owned subsidiary, Rideshare Car Rentals, LLC, is an online rideshare vehicle booking platform created to service the ridesharing, delivery gig economy and the logistics market place, which includes both our owned-fleet vehicles and third party fleet vehicles. Distinct Cars LLC, our other wholly owned subsidiary, maintains a fleet of vehicles that are commercially available for rent by gig-economy drivers and the logistics market place. Rideshare Rental provides SEC filings, investor events, press and earnings releases about our financial performance on the investor relations section of our website (www.ridesharerental.net) The transactions described herein constitute “related party transactions” under current SEC rules and regulations. Forward-Looking Statement Disclaimer This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this press release are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. The company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the company cautions investors that actual results may differ materially from the anticipated results. Public Relations ContactRamy El-BatrawiPhone: 888-209-5643Email: investors@yayyo.comFor more investor information go towww.Ridesharerental.net

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  • RideShare Rental, Inc., formerly YayYo, Inc., announces $2 million extension of ACME Auto Leasing LLC line of credit

    BEVERLY HILLS, Calif., Jan. 21, 2021 (GLOBE NEWSWIRE) -- RideShare Rental, Inc., formerly YayYo, Inc. ("RSR" or the “Company") (Other OTC:YAYO), a leading provider of vehicles to the rideshare and delivery gig economy industry, acting through its wholly-owned subsidiary, Rideshare Car Rentals, LLC, today announced that ACME Auto Leasing LLC has increased their line of credit to the Company by $2 million. The extension will be used to fund additional passenger vehicles for the rideshare industry, including the purchase of transit high top cargo vans for last -mile logistics. The bulk of the funds will be allocated towards the purchase of electric vehicles (EV) to launch RSR's EV strategy for the rideshare space. Ramy El-Batrawi, Chief Executive Officer of RSR said, "The higher line of credit will help us to ramp up our fleet and continue to rapidly deploy new vehicles as we strategically build out our expansion. Demand for vehicles continues to outpace supply and we’re excited to be able to meet the demand of rideshare drivers. A supply of new cars and vans is scheduled to be begin delivery this week and continue through the rest of January and February. We already have commitments from PDQ Logistics, LLC for the vans we will use for long-term rentals. In several markets, we are experiencing greater than 95% utilization. We anticipate that most of the vehicles that will be delivered to us will be rented within a short period of time after our receipt, as we continue to supply drivers for Uber, Lyft, Grubhub, Postmates, and other gig economy drivers." Further, Mr. El-Batrawi stated, “The expansion of Rideshare Rental into electric vehicles not only further diversifies the Company, it takes us into the next generation of rideshare, as demonstrated by the recent announcements by Uber and Lyft that they are significantly expanding their electric vehicle and hybrid ride options and intend to be 100% electric by the end of this decade. Deploying electric vehicles instead of gasoline-powered models for services like Uber and Lyft provides obvious climate benefits. The one detriment of the explosive growth in ride-hailing in recent years is the effect it has had on climate-friendly mass transit. At present, there are a limited number of electric vehicles in the ride-hailing fleets to satisfy the rapidly growing demand. We intend to be in the vanguard of meeting this demand while at the same time helping to realize such important environmental benefits.” Mr. El-Batrawi continued, “EV entry into ride-sharing is challenging because the vast majority of ride-sharing vehicles are driver-owned and electric vehicles currently have higher costs. With Rideshare Rental purchasing these EVs, we can in turn rent them to drivers at a much lower up-front cost. We are hopeful that entering this market will lead us to a cooperative agreement with ride-hailing companies.” Rideshare Rental has entered into a leasing arrangement for the new vans with PDQ Logistics, LLC, a limited liability company whose managing member is Mr. El-Batrawi. In addition, Mr. El-Batrawi has provided ACME Auto Leasing with a personal guarantee on any borrowings on the expanded line of credit being used to finance the acquisition of the vehicles. These relationships constitute "related party transactions" under current SEC rules and regulations. About Rideshare Rental, Inc. (formerly YayYo, Inc.) Rideshare Rental, Inc. bridges the gap between rideshare drivers in need of a suitable vehicle and rideshare companies that depend on attracting and keeping drivers. Rideshare Rental uniquely supports drivers in both the higher and lower economic categories with innovative policies and programs. Rideshare Rental is a leading provider of rental vehicles to drivers in the ever-expanding gig economy. Our wholly-owned subsidiary, Rideshare Car Rentals, LLC, is an online rideshare vehicle booking platform created to service the ridesharing, delivery gig economy and the logistics market place, which includes both our owned-fleet vehicles and third party fleet vehicles. Distinct Cars LLC, our other wholly-owned subsidiary, maintains a fleet of vehicles that are commercially available for rent by gig-economy drivers and the logistics market place. Rideshare Rental provides SEC filings, investor events, press and earnings releases about our financial performance on the investor relations section of our website (www.ridesharerental.net)About ACME Auto Leasing LLC Since 1982, ACME Auto Leasing LLC has been servicing federal, state and local governments, educational institutions, and law enforcement agencies across the United States. ACME's full range of turn-key fleet services include vehicle leasing, maintenance and management services.About PDQ Logistics, LLC PDQ Logistics, LLC provides modern logistics and transportation solutions, bringing convenience and efficiency to customers through a technology-based, customer-centric approach. PDQ specializes in servicing the last mile, on demand, and large/bulky item pickup and delivery markets. The services it provides include scheduled pickup and delivery, adding capacity to existing networks, providing partners with flexible fleet and driver resources and same-day capabilities, all with operational excellence. PDQ has a large customer base which includes Amazon, Nordstrom’s, Newegg, ACI Logistics, and OnTrac, among many more. Forward-Looking Statement Disclaimer This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this press release are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the company cautions investors that actual results may differ materially from the anticipated results. Public Relations ContactRamy El-BatrawiPhone: 888-209-5643Email: investors@yayyo.comFor more investor information go towww.Ridesharerental.net

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  • RideShare Rental, Inc., Formerly YayYo, Inc., Announces HQ Office Move to Accommodate Accelerated Growth

    New office expansion should help enable RideShare Rental achieve its expansion strategyBEVERLY HILLS, Calif., Jan. 20, 2021 (GLOBE NEWSWIRE) -- RideShare Rental, Inc., formerly YayYo, Inc. ("RSR" or the “Company") (Other OTC:YAYO), a leading provider of vehicles to the rideshare and delivery gig economy industry, acting through its wholly-owned subsidiary, Rideshare Car Rentals, LLC, today announced a major office move to a larger facility in Beverly Hills. RSR operations will be moving from its current location at 6600 Sunset Blvd in Hollywood to 195 S. Robertson Blvd in Beverly Hills, CA. The new office space will significantly expand the Company's operational square footage, which will facilitate the Company’s rapid growth strategy. For example, the new site will include four (4) service bays, which will allow RSR to service our own vehicles on-site. Since vehicle maintenance is one of the Company's top three expenses the savings it will realize from on-site maintenance will immediately improve profit margins. The facility can also accommodate up to seventy-five 75 vehicles, which is particularly critical given the Company's recent announcement of its electrical vehicle expansion. Not only will this expansion be accommodated by the sheer size of the new location the Company will also install up to fifteen (15) charging stations on-site. “We are excited to relocate to our new, larger facility,” commented Ramy El-Batrawi, Chief Executive Officer of RSR. “This move represents a significant milestone for our fast-growing and diverse operations. Our new location can much better accommodate our organic growth and our entry into new markets and services.” Further, Mr. El-Batrawi stated, “The expansion of Rideshare Rental into electric vehicles will be much easier from our new location. We can then partner with ride-hailing companies such as Uber and Lyft in reducing the emissions caused by their existing fleet of cars.” Mr. El-Batrawi continued, “Given the high number of miles logged by ride-hailing vehicles, the environmental benefit a zero-emissions vehicle provides is obvious. Ride-hailing companies are aggressively seeking to increase the number of electric vehicles used in their industry and Rideshare Rental is well positioned to capitalize on this market trend.” Mr. El-Batrawi has provided the landlord of the Company's new headquarters with a personal guaranty on the lease. This guaranty constitutes a "related party transaction" under current SEC rules and regulations. About Rideshare Rental, Inc. (formerly YayYo, Inc.) Rideshare Rental, Inc. bridges the gap between rideshare drivers in need of a suitable vehicle and rideshare companies that depend on attracting and keeping drivers. Rideshare Rental uniquely supports drivers in both the higher and lower economic categories with innovative policies and programs. Rideshare Rental is a leading provider of rental vehicles to drivers in the ever-expanding gig economy. Our wholly-owned subsidiary, Rideshare Car Rentals, LLC, is an online rideshare vehicle booking platform created to service the ridesharing, delivery gig economy and the logistics market place, which includes both our owned-fleet vehicles and third party fleet vehicles. Distinct Cars LLC, our other wholly-owned subsidiary, maintains a fleet of vehicles that are commercially available for rent by gig-economy drivers and the logistics market place. Rideshare Rental provides SEC filings, investor events, press and earnings releases about our financial performance on the investor relations section of our website (www.ridesharerental.net) Forward-Looking Statement Disclaimer This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this press release are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the company cautions investors that actual results may differ materially from the anticipated results. Public Relations ContactRamy El-BatrawiPhone: 888-209-5643Email: investors@yayyo.comFor more investor information go towww.Ridesharerental.net

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  • RideShare Rental, Inc. (formerly YayYo, Inc.) Announces Preliminary Results for Fourth Quarter of 2020 and Fiscal Year 2020

    Company Achieves Record Revenue and all its goals for the fourth quarterBEVERLY HILLS, Calif., Jan. 19, 2021 (GLOBE NEWSWIRE) -- RideShare Rental, Inc., formerly YayYo, Inc ("RSR" or the “Company") (Other OTC:YAYO), a leading provider of vehicles to the rideshare and delivery gig economy industry, acting through its wholly-owned subsidiary, Rideshare Car Rentals, LLC, today announced preliminary, unaudited financial results and selected operating metrics for the fourth quarter and fiscal year ended December 31, 2020. Financial Highlights: Total net revenue of approximately $8 million for fiscal 2020, which is an increase of approximately 11% compared to fiscal 2019, despite the drop in revenues in the second quarter caused by COVID-19 shutdowns;Total net revenue of approximately $2.3 million for Q4 2020, which is an increase of approximately 30% compared to Q4 2019;Gross profit percentage increased to approximately 34% for Q4 2020 and approximately 30% for fiscal 2020;Q4 revenue was the highest quarterly revenue in company history; and The Company’s vehicle rental operations, including its electric vehicles (EV) operations (excluding corporate overhead), were profitable in Q4 2020, continuing the trend from Q3 2020. Fourth quarter achievements: Consistent with Q4 revenue being the highest quarterly revenue in Company history, the fourth quarter saw the highest number of vehicles rented from the Company to date; We launched a new car-sharing Program;We deployed 40 EV cars in Los Angeles;We launched our entrance in the last-mile logistics space by deploying our first 28 transit high-roof top cargo vans, and have realized a 100% utilization rate; andWe increased our line of credit with ACME Auto Leasing by an additional $1,000,000. "I'm incredibly proud to share our record-breaking results for both the fourth quarter of 2020 and fiscal 2020, which reflect the strength of our platforms and our team members' unwavering commitment to deliver a great experience to our drivers, clients and partners," said Ramy El-Batrawi, the Company's chief executive officer. "The long-term investments we have made in our people and both existing and new platforms and our flexibility to quickly shift when needed have been instrumental to our overall success. This has allowed us to become more diverse and therefore increase our revenues. For example, we were able to adapt to rapidly changing market conditions in the way we pivoted to the delivery gig industry, a sector which experienced increased activity throughout the COVID-19 shutdown, enabling us to capture additional market share. While I'm quite pleased about our fourth quarter performance, I believe our innovative culture will allow us to capitalize on the significant opportunities that lie ahead, including but not limited to deepening our entry into the EV space." Further, Mr. El-Batrawi stated, “We are hopeful that we will experience continued revenue growth, assuming that demand continues to be strong. We expect to add more cars in 2021 and we will strive to maintain an approximate 95% utilization rate on our available cars and vans. With the anticipated greater need for additional delivery capacity from local and regional carriers, we will, as needed, continue to purchase more vans for rent by last-mile logistic companies. We also see a significant opportunity in the EV space, and we intend to apply diverse strategies in realizing it. Overall, we have been able to make great strides both in the technology and the deployment of our vehicles," Mr. El-Batrawi added, “and we have put a strong foundation in place in 2020, particularly over the last two quarters.” The preliminary, unaudited financial results and selected operating metrics included in this press release are based on information available as of January 18, 2021 and management's initial review of operations for the fourth quarter and year ended December 31, 2020. They remain subject to change based on management's ongoing review of the company's fourth-quarter and full year results and are forward-looking statements. Rideshare Rental, Inc assumes no obligation to update these statements. The actual results may be materially different and are affected by the risk factors and uncertainties identified in Rideshare Rental, Inc.’s annual and quarterly filings with the Securities and Exchange Commission. About Rideshare Rental, Inc. (formerly YayYo, Inc.) Rideshare Rental, Inc. bridges the gap between rideshare drivers in need of a suitable vehicle and rideshare companies that depend on attracting and keeping drivers. Rideshare Rental uniquely supports drivers in both the higher and lower economic categories with innovative policies and programs. Rideshare Rental is a leading provider of rental vehicles to drivers in the ever-expanding gig economy. Our wholly-owned subsidiary, Rideshare Car Rentals, LLC, is an online rideshare vehicle booking platform created to service the ridesharing, delivery gig economy and the logistics market place, which includes both our owned-fleet vehicles and third party fleet vehicles. Distinct Cars LLC, our other wholly-owned subsidiary, maintains a fleet of vehicles that are commercially available for rent by gig-economy drivers and the logistics market place. Rideshare Rental provides SEC filings, investor events, press and earnings releases about our financial performance on the investor relations section of our website (www.ridesharerental.net) Forward-Looking Statement Disclaimer This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this press release are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the company cautions investors that actual results may differ materially from the anticipated results. Public Relations ContactRamy El-BatrawiPhone: 888-209-5643Email: investors@yayyo.comFor more investor information go towww.Ridesharerental.net

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  • RideShare Rental, Inc, formerly YayYo, Inc, announces that its CEO has increased his common stock position in YAYO by 5,000,000 shares

    BEVERLY HILLS, Calif., Jan. 13, 2021 (GLOBE NEWSWIRE) -- RideShare Rental, Inc., formerly YayYo, Inc (“RSR” or the “Company”) (Other OTC:YAYO), which, acting through its wholly-owned subsidiary, Rideshare Car Rentals, LLC, is a leading provider of vehicles to the rideshare and delivery gig economy industry, today announced that its Chief Executive Officer, Ramy El-Batrawi, has increased his ownership position in YAYO common stock by five million (5,000,000) shares. Mr. El-Batrawi received these shares through an exchange transaction (valued at $3 a share for a total of $15,000,000) with RSR’s largest stockholder, the Gray Mars Venus Trust, Arizona 2015 (the “Trust”). The shares will be held as an asset of X, LLC, a Delaware limited liability company, of which Mr. El-Batrawi is managing member and Mr. El-Batrawi will have sole voting and dispositive power over the shares received from the Trust. Mr. El-Batrawi commented, “I feel our stock is undervalued at present. Given the Company’s performance and the growing diversity of our product lines, I feel the intrinsic value of YAYO shares should be reflected in a higher market price. The transaction with the Gray Trust and my recent and continuing open market purchases of the Company’s common stock has increased my ownership percentage to approximately 26%.”Mr. El-Batrawi continued, “I have committed myself my day-to-day efforts on behalf of RSR to creating value for our stockholders. We will endeavor to grow RSR organically using the capital at our disposal, and we intend to pursue attractive strategic alternatives. We are also contemplating several steps in order to create more investment community exposure for YAYO, including a possible up listing.”These transactions described herein constitute “related party transactions” under current SEC rules and regulations.About Rideshare Rental, Inc. (formerly YayYo, Inc.)Rideshare Rental, Inc. bridges the gap between rideshare drivers in need of a suitable vehicle and rideshare companies that depend on attracting and keeping drivers. Rideshare Rental uniquely supports drivers in both the higher and lower economic categories with innovative policies and programs. Rideshare Rental is a leading provider of rental vehicles to drivers in the ever-expanding gig economy.Our wholly-owned subsidiary, Rideshare Car Rentals, LLC, is an online rideshare vehicle booking platform created to service the ridesharing, delivery gig economy and the logistics market place, which includes both our owned-fleet vehicles and third party fleet vehicles. Distinct Cars LLC, our other wholly-owned subsidiary, maintains a fleet of vehicles that are commercially available for rent by gig-economy drivers and the logistics market place.Rideshare Rental provides SEC filings, investor events, press and earnings releases about our financial performance on the investor relations section of our website (www.ridesharerental.net)Forward-Looking Statement DisclaimerThis press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this press release are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. The company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the company cautions investors that actual results may differ materially from the anticipated results.Public Relations Contact Ramy El-Batrawi Phone: 888-209-5643 Email: investors@yayyo.com

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  • John Gray, principal of one of the largest shareholders of Rideshare Rental, Inc. (formerly YayYo, Inc.) (ticker symbol: YAYO) has loaned the Company $500,000 in return for a convertible note

    John Patrick O’Neill, a member of Rideshare Rental, Inc’s board of directors, purchases an additional 100,000 shares of YAYO StockBEVERLY HILLS, Calif., Jan. 12, 2021 (GLOBE NEWSWIRE) -- Rideshare Rental, Inc., formerly YayYo, Inc. ("RSR" or the "Company") (Other OTC:YAYO), which, acting through its wholly-owned subsidiary, Rideshare Car Rentals, LLC, is a leading provider of vehicles to the rideshare and delivery gig economy industry, today announced that John Gray, the principal of one of the Company's largest shareholders, the Gray Mars Venus Trust, Arizona 2015, has agreed to extend a loan to the Company in the amount of $500,000, in return for which he will receive a convertible note issued by RSR (the "Note"). The Note will mature after twelve (12) months and the loan will bear interest at a fixed rate of six percent (6%). If the debt represented by the Note is converted by Mr. Gray, either in whole or in part, into shares of YAYO common stock, those shares will have registration rights. The Company will apply the loan extended by Mr. Gray toward its growth strategy and working capital. In addition, John O’Neill, a member of the Company's board of directors, has acquired 100,000 shares of Company common stock, which, in addition to his purchase of 135,000 common shares in June 2020 after becoming a Company director, and his prior open market purchases, brings his total shareholdings to 252,100.Mr. Gray commented. "I have been deeply involved with RSR, including supplying capital to it, since inception. I truly believe this a great company with huge upside and want to support its continuing growth. Management has done an extraordinary job of building the Company and repositioning it during the COVID-19 pandemic."Ramy El-Batrawi, the Company's Chief Executive Officer, commented, "I am pleased to see the confidence that both our largest outside stockholder and a member of the RSR board has in the Company and its management. Mr. El-Batrawi continued, "John Gray and myself are not the only large shareholders who believe in the Company and who have confidence in its future prospects. Another large shareholder, Terren Peizer, last year purchased nearly 1.5 million common shares in addition to his IPO stake. I’m delighted to see that members of the RSR board have the same confidence; other directors, including Sidhu Harbant and our board chairman Stephen Sanchez, have purchased common shares in the open market since our IPO."These transactions described herein constitute "related party transactions" under current SEC rules and regulations.About Rideshare Rental, Inc. (formerly YayYo, Inc.)Rideshare Rental, Inc. bridges the gap between rideshare drivers in need of a suitable vehicle and rideshare companies that depend on attracting and keeping drivers. Rideshare Rental uniquely supports drivers in both the higher and lower economic categories with innovative policies and programs. Rideshare Rental is a leading provider of rental vehicles to drivers in the ever-expanding gig economy.Our wholly-owned subsidiary, Rideshare Car Rentals, LLC, is an online rideshare vehicle booking platform created to service the ridesharing, delivery gig economy and the logistics market place, which includes both our owned-fleet vehicles and third party fleet vehicles. Distinct Cars LLC, our other wholly-owned subsidiary, maintains a fleet of vehicles that are commercially available for rent by gig-economy drivers and the logistics market place.Rideshare Rental provides SEC filings, investor events, press and earnings releases about our financial performance on the investor relations section of our website (www.ridesharerental.net)Forward-Looking Statement DisclaimerThis press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this press release are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the company cautions investors that actual results may differ materially from the anticipated results.Public Relations Contact Ramy El-Batrawi Phone: 888-209-5643 Email: investors@yayyo.com

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  • RideShare Rental, Inc, formerly YayYo, Inc, announces its entrance into the last mile logistics space through the rentals of transit high roof top cargo vans

    RideShare Rental will take delivery of the first combination of 28 Transit-250 and transit-350 high roof top cargo vans this week with another 50 vans to be delivered by the end of January 2021 ACME Auto Leasing LLC will extend an additional $1 million line of credit to finance the initial acquisitionBEVERLY HILLS, Calif., Dec. 15, 2020 (GLOBE NEWSWIRE) -- RideShare Rental, Inc., formerly YayYo, Inc ("RSR" or the “Company") (Other OTC:YAYO), a leading provider of vehicles to the rideshare and delivery gig economy industry, acting through its wholly-owned subsidiary, Rideshare Car Rentals, LLC, today announced that it is entering into the last mile logistics space by supplying customers with transit high top cargo vans . Rideshare Rental's acquisition of these vans will be financed through an increase of $1 million in its existing line of credit with ACME Auto Leasing LLC.Ramy El-Batrawi, CEO of Rideshare Rental said, “With the explosion of Amazon's business this year, and the resulting competition, the last mile delivery of small parcel market has grown at a torrid pace during 2020, with expectations of double-digit growth to continue into 2023. Vehicles for parcel delivery are in high demand, especially during the Covid-19 crisis. The expansion of Rideshare Rental into this space is expected to help fill some of the current demand, and will further our strategy to diversify the company, which includes our electric vehicles (EV) strategy we announced earlier this year. This diversification should help in making the company less vulnerable to shutdowns.”Further, Mr. El-Batrawi noted that he is seeing a greater need for additional delivery capacity from local and regional carriers, He commented further that, “Rideshare Rental will soon be positioned to rent thousands of vehicles as national and regional carriers demand for rental vans continue to increase. We believe that high-margin van rentals can surpass passenger vehicle rentals within a very short time.”Rideshare Rental has entered into a leasing arrangement for the new vans with PDQ Logistics, LLC, a limited liability company whose managing member is Mr. El-Batrawi. In addition, Mr. El-Batrawi has provided ACME Auto Leasing with a personal guarantee on any borrowings on the expanded line of credit being used to finance the acquisition of the vehicles. These relationships constitute "related party transactions" under current SEC rules and regulations.About Rideshare Rental, Inc. (formerly YayYo, Inc.)Rideshare Rental, Inc. bridges the gap between rideshare drivers in need of a suitable vehicle and rideshare companies that depend on attracting and keeping drivers. Rideshare Rental uniquely supports drivers in both the higher and lower economic categories with innovative policies and programs. Rideshare Rental is a leading provider of rental vehicles to drivers in the ever-expanding gig economy.Our wholly-owned subsidiary, Rideshare Car Rentals, LLC, is an online rideshare vehicle booking platform created to service the ridesharing, delivery gig economy and the logistics market place, which includes both our owned-fleet vehicles and third party fleet vehicles. Distinct Cars LLC, our other wholly-owned subsidiary, maintains a fleet of vehicles that are commercially available for rent by gig-economy drivers and the logistics market place.Rideshare Rental provides SEC filings, investor events, press and earnings releases about our financial performance on the investor relations section of our website (www.yayyo.com). About ACME Auto Leasing LLCSince 1982, ACME Auto Leasing LLC has been servicing federal, state and local governments, educational institutions, and law enforcement agencies across the United States. ACME's full range of turn-key fleet services include vehicle leasing, maintenance and management services. About PDQ Logistics, LLCPDQ Logistics, LLC provides modern logistics and transportation solutions, bringing convenience and efficiency to customers through a technology-based, customer-centric approach. PDQ specializes in servicing the last mile, on demand, and large/bulky item pickup and delivery markets. The services it provides include scheduled pickup and delivery, adding capacity to existing networks, providing partners with flexible fleet and driver resources and same-day capabilities, all with operational excellence. PDQ has a large customer base which includes Amazon, Nordstrom’s, Newegg, ACI Logistics, and OnTrac, among many more.Forward-Looking Statement DisclaimerThis press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this press release are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the company cautions investors that actual results may differ materially from the anticipated results.Public Relations Contact Ramy El-Batrawi Phone: 888-209-5643 Email: investors@yayyo.com

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  • RideShare Rental, Inc., formerly YayYo, Inc Announces the launch of its Electric Vehicle strategy

    The New EV program will be launched before the end of December RideShare Rental will take delivery of the first 40 EV vehicles in DecemberRideShare Rental is also developing a Car Share App for EV’s, which will be completed before the end of the yearBEVERLY HILLS, Calif., Nov. 23, 2020 (GLOBE NEWSWIRE) -- RideShare Rental, Inc., formerly YayYo, Inc ("RSR" or the “Company") (Other OTC:YAYO), a leading provider of vehicles to the rideshare and delivery gig economy industry, through its wholly-owned subsidiary, RideShare Car Rentals, LLC, today announced it is getting into the EV space with a model that will generate revenues and profits upon its launch."We have been working on an EV strategy for the rideshare space and car sharing space for a while now," commented Ramy El-Batrawi, CEO. "We are excited that we are finally launching the first 40 EV vehicles in December. Working with a few partners in this space has allowed us to fulfill a goal the company had. With funding and infrastructure coming in from our partners, we were able to make great strides both in the technology and the deployment of the vehicles.”"We are launching two different strategies to fulfill our goal with EV vehicles. One will be a true Car Share starting in LA and will continue to expand through the country. The Car Share portion of EV will be subsidized by our partner and guaranteeing a profitable venture for the company. We should see revenues from this program hitting this quarter. The second phase of the EV strategy is with the new functionalities of the new app which includes unlocking and starting the car through the app. The problem we are solving for actual renter of vehicles for the gig economy space is the limited Distance an EV before recharging and the time to recharge a vehicle makes it not feasible for gig workers to rent EV vehicles. Our strategy will be to have EV vehicles available across the city, when a driver runs low on their battery, they can simply swap up vehicles using their app and continue driving without delay. We feel this strategy will allow the expansion to EV vehicles where driver can save money on gas, one of the biggest costs and become part of green economy. We are planning to test the model in December as well," CEO Ramy El-Batrawi added.RideShare Car Rentals LLC, our wholly-owned subsidiary, is an online rideshare vehicle booking platform to service the ridesharing and delivery gig economy which includes both our owned-fleet and third party fleets.Fleet ManagementDistinct Cars LLC, our wholly-owned subsidiary, maintains a fleet of passenger vehicles that are commercially available for rent by gig-economy drivers.About RideShare Rental, Inc. Formerly YayYo, IncRideShare Rental, Inc. bridges the gap between rideshare drivers in need of a suitable vehicle and rideshare companies that depend on attracting and keeping drivers. RideShare Rental, Inc. uniquely supports drivers in both the higher and lower economic categories with innovative policies and programs. RideShare Rental, Inc. is a leading provider of rental vehicles to drivers in the ever-expanding gig economy.RideShare Rental, Inc. provides SEC filings, investor events, press and earnings releases about our financial performance on the investor relations section of our website (www.yayyo.com).Forward-Looking Statement DisclaimerThis press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this press release are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the company cautions investors that actual results may differ materially from the anticipated results.Public Relations Contact Ramy El-Batrawi Phone: 888-209-5643 Email: investors@yayyo.com

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  • Rideshare Rental, Inc., Formerly YayYo, Inc., Announces Results for Q3 2020

    Highlights Q3 2020 revenue was up 21.5% over Q3 2019, hitting the highest quarterly revenue in the company’s historyQ3 2020 revenue was up 31.0% over Q2 2020, marking a significant recovery from the COVID-19 shutdownGross margin for Q3 2020 was 42.3% up from 37.9% in Q3 2019BEVERLY HILLS, Calif., Nov. 16, 2020 (GLOBE NEWSWIRE) -- Rideshare Rental, Inc. ("RSR" or the “Company") (Other OTC:YAYO), a leading provider of vehicles to the rideshare and delivery gig economy industry, through its wholly-owned subsidiary, Rideshare Car Rentals, LLC, today announced financial results for the quarter ended September 30, 2020."We are very pleased with our performance in Q3 2020," commented Ramy El-Batrawi, CEO. "Although the COVID-19 shutdowns caused our quarterly revenue to decrease in the beginning of the second quarter of 2020 compared to the same period in 2019, we saw a positive upward movement in revenue by the end of the second quarter. Q3 was up 21% year over year and was up 31% over Q2 2020, hitting the highest quarterly revenue in the Company’s history. Gross margins grew to 42% up from 38% from Q3 2019, making the Company’s core rental operations profitable before taking into account corporate overhead and one-time costs.”"This significant increase in revenue is a result of our immediate pivot in marketing to the delivery gig industry, a sector which continued activity throughout the COVID-19 shutdown. With Proposition 22 passing that established workers as independent contractors, superseding a California law that aimed to make gig workers, including ride-hailing and food delivery drivers, employees with full benefits, will create more demand as drivers make more money. This is important because the majority of our fleet are in California. We anticipate seeing continued growth in revenue as we add more cars, demand is strong not only in California but also in all cities we service. We are running at a 95% utilization rate on available cars to rent in all areas," CEO Ramy El-Batrawi added.Rideshare Car Rentals LLC, our wholly-owned subsidiary, is an online rideshare vehicle booking platform to service the ridesharing and delivery gig economy which includes both our owned-fleet and third party fleets.Fleet ManagementDistinct Cars LLC, our wholly-owned subsidiary, maintains a fleet of passenger vehicles that are commercially available for rent by gig-economy drivers.About Rideshare Rental, Inc.Rideshare Rental, Inc. bridges the gap between rideshare drivers in need of a suitable vehicle and rideshare companies that depend on attracting and keeping drivers. Rideshare Rental, Inc. uniquely supports drivers in both the higher and lower economic categories with innovative policies and programs. Rideshare Rental, Inc. is a leading provider of rental vehicles to drivers in the ever-expanding gig economy.Rideshare Rental, Inc. provides SEC filings, investor events, press and earnings releases about our financial performance on the investor relations section of our website (www.yayyo.com).Forward-Looking Statement DisclaimerThis press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this press release are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the company cautions investors that actual results may differ materially from the anticipated results.Public Relations Contact Ramy El-Batrawi Phone: 888-209-5643 Email: investors@yayyo.comRIDESHARE RENTAL, INC. (FORMERLY YAYYO, INC.) CONDENSED CONSOLIDATED BALANCE SHEETS As of September 30, 2020 and December 31, 2019  September 30,  December 31,    2020  2019    (unaudited)     ASSETS         Current Assets:         Cash $84,732  $1,256,429  Accounts receivable  53,338   59,331  Prepaid expenses  431,973   782,900  Total current assets  570,043   2,098,660            Equipment, net  2,280   3,395  Rental vehicles, net  7,140,289   4,737,047  Deposit on vehicles  -   164,080  Other assets  200,000   200,000  TOTAL ASSETS $7,912,612  $7,203,182            LIABILITIES AND STOCKHOLDERS’ DEFICIT                   Current Liabilities:         Accounts payable (including $692,386 and $394,183 to related party) $1,453,305  $545,254  Accrued expenses (including $0 and $171,665 to related party)  432,815   405,977  Notes payables, current (net of discount of $4,570 and $32,289)  497,872   287,378  Advance from related party  50,000   -  Finance lease obligations, current  1,689,534   1,416,446  Total current liabilities  4,123,526   2,655,055            Note payable, net of current portion  149,900   -  Finance lease obligations, net of current portion  1,978,238   984,119            TOTAL LIABILITIES  6,251,664   3,639,174            Commitments and contingencies  -   -            STOCKHOLDERS’ DEFICIT         Preferred stock, $0.000001 par value; 10,000,000 shares authorized; nil shares issued and outstanding  -   -  Common stock, $0.000001 par value; 90,000,000 shares authorized; 31,981,374 and 29,427,803 shares issued and outstanding  32   29  Additional paid-in capital  29,708,377   28,735,894  Accumulated deficit  (28,047,461)  (25,171,915) Total stockholders’ deficit  1,660,948   3,564,008  TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT $7,912,612  $7,203,182            RIDESHARE RENTAL, INC. (FORMERLY YAYYO, INC.) CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS For the Three and Nine Months Ended September 30, 2020 and 2019 (unaudited)  Three Months Ended September 30,  Nine Months Ended September 30,    2020  2019  2020  2019                Revenue $2,070,821  $1,718,439  $5,399,018  $5,193,957                    Cost of revenue  1,194,957   1,067,373   3,891,307   3,111,614                    Gross profit  875,864   651,066   1,507,711   2,082,343                    Operating expenses:                 Selling and marketing expenses  113,904   80,039   324,546   182,645  General and administrative expenses  1,088,152   761,151   3,845,768   2,221,962  Loss on the settlement of debt  -   -   -   252,900  Total operating expenses  1,202,056   841,190   4,170,314   2,657,507                    Loss from operations  (326,192)  (190,124)  (2,662,603)  (575,164)                   Other income (expense):                 Interest and financing costs  (65,292)  (180,531)  (212,943)  (792,406) Total other income (expense)  (65,292)  (180,531)  (212,943)  (792,406)                   Net loss $(391,484) $(370,655) $(2,875,546) $(1,367,570)                   Weighted average shares outstanding :                 Basic  31,981,374   26,802,803   30,828,676   26,774,636  Diluted  31,981,374   26,802,803   30,828,676   26,774,636                    Loss per share                 Basic $(0.01) $(0.01) $(0.09) $(0.05) Diluted $(0.01) $(0.01) $(0.09) $(0.05)                   RIDESHARE RENTAL, INC. (FORMERLY YAYYO, INC.) CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIT) For the Three and Nine Months Ended September 30, 2020 and 2019 (unaudited)        Additional     Total    Common Stock  Paid-in  Accumulated  Stockholders’    Shares  Amount  Capital  Deficit  Equity (Deficit)  Balance, December 31, 2019  29,427,803  $29  $28,735,894  $(25,171,915) $3,564,008                        Stock option expense          457,242       457,242  Net loss              (1,761,220)  (1,761,220)                       Balance, March 31, 2020  29,427,803   29   29,193,136   (26,933,135)  2,260,030                        Issuance of common stock for cash  2,553,571   3   274,997       275,000  Net loss              (722,842)  (722,842)                       Balance, June 30, 2020  31,981,374   32   29,468,133   (27,655,977)  1,812,188                        Stock option expense          240,244       240,244  Net loss              (391,484)  (391,484)                       Balance, September 30, 2020  31,981,374  $32  $29,708,377  $(28,047,461) $1,660,948                        Balance, December 31, 2018  26,718,676  $27  $19,193,151  $(21,241,694) $(2,048,516)                       Issuance of common stock for settlement of debt  80,000       640,000       640,000  Net loss              (579,463)  (579,463)                       Balance, March 31, 2019  26,798,676   27   19,833,151   (21,821,157)  (1,987,979)                       Issuance of common stock for settlement of debt  4,300       34,400       34,400  Net loss                     (417,452)  (417,452)                       Balance, June 30, 2019  26,802,976   27   19,867,551   (22,238,609)  (2,371,031)                       Correction to outstanding shares  (173)                 Net loss              (370,655)  (370,655)                       Balance, September 30, 2019  26,802,803  $27  $19,867,551  $(22,609,264) $(2,741,686)                       RIDESHARE RENTAL, INC. (FORMERLY YAYYO, INC.) CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS For the Nine Months Ended September 30, 2020 and 2019 (unaudited)  2020  2019          CASH FLOWS FROM OPERATING ACTIVITIES:         Net loss $(2,875,546) $(1,367,570) Adjustments to reconcile net loss to net cash provided by (used in) operating activities:         Depreciation and amortization  1,047,075   730,610  Stock option expense  697,486   -  Common stock issued for services  -   -  Amortization of debt discounts  27,719   29,860  Loss on the settlement of debt  -   252,900  Changes in operating assets and liabilities:         Accounts receivable  5,993   (78,643) Prepaid expenses  350,927   1,394  Accounts payable  908,051   (419,958) Accrued expenses  26,838   697,518  Net cash provided by (used in) operating activities  188,543   (153,889)           CASH FLOWS FROM FINANCING ACTIVITIES:         Proceeds from notes payable  342,675   1,951,300  Proceeds from sale of common stock  275,000   -  Proceeds from advance from related party  200,000   -  Repayment of advance from related party  (150,000)  -  Repayment of notes payable  (10,000)  (967,652) Repayment of finance lease obligations  (2,017,915)  (1,025,863) Net cash used in financing activities  (1,360,240)  (42,215)           NET INCREASE (DECREASE) IN CASH  (1,171,697)  (196,104)           CASH, BEGINNING OF PERIOD  1,256,429   277,444            CASH, END OF PERIOD $84,732  $81,340            CASH PAID FOR:         Interest $185,224  $715,250  Income taxes $-  $-            SUPPLEMENTAL NON-CASH INVESTING AND FINANCING ACTIVITIES         Payment of accounts payable/accrued expenses with common stock $-  $421,500  Value of equity recorded as debt discounts $-  $-  Finance lease obligations $3,400,922  $510,136

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  • Rideshare Rental, Inc. Announces Results for Q3 2020

    Highlights Q3 2020 revenue was up 21.5% over Q3 2019, hitting the highest quarterly revenue in the company’s historyQ3 2020 revenue was up 31.0% over Q2 2020, marking a significant recovery from the COVID-19 shutdownGross margin for Q3 2020 was 42.3% up from 37.9% in Q3 2019BEVERLY HILLS, Calif., Nov. 12, 2020 (GLOBE NEWSWIRE) -- Rideshare Rental, Inc. ("RSR" or the “Company") (Other OTC:YAYO), a leading provider of vehicles to the rideshare and delivery gig economy industry, through its wholly-owned subsidiary, Rideshare Car Rentals, LLC, today announced financial results for the quarter ended September 30, 2020."We are very pleased with our performance in Q3 2020," commented Ramy El-Batrawi, CEO. "Although the COVID-19 shutdowns caused our quarterly revenue to decrease in the beginning of the second quarter of 2020 compared to the same period in 2019, we saw a positive upward movement in revenue by the end of the second quarter. Q3 was up 21% year over year and was up 31% over Q2 2020, hitting the highest quarterly revenue in the Company’s history. Gross margins grew to 42% up from 38% from Q3 2019, making the Company’s core rental operations profitable before taking into account corporate overhead and one-time costs.”"This significant increase in revenue is a result of our immediate pivot in marketing to the delivery gig industry, a sector which continued activity throughout the COVID-19 shutdown. With Proposition 22 passing that established workers as independent contractors, superseding a California law that aimed to make gig workers, including ride-hailing and food delivery drivers, employees with full benefits, will create more demand as drivers make more money. This is important because the majority of our fleet are in California. We anticipate seeing continued growth in revenue as we add more cars, demand is strong not only in California but also in all cities we service. We are running at a 95% utilization rate on available cars to rent in all areas," CEO Ramy El-Batrawi added.Rideshare Car Rentals LLC, our wholly-owned subsidiary, is an online rideshare vehicle booking platform to service the ridesharing and delivery gig economy which includes both our owned-fleet and third party fleets.Fleet ManagementDistinct Cars LLC, our wholly-owned subsidiary, maintains a fleet of passenger vehicles that are commercially available for rent by gig-economy drivers.About Rideshare Rental, Inc.Rideshare Rental, Inc. bridges the gap between rideshare drivers in need of a suitable vehicle and rideshare companies that depend on attracting and keeping drivers. Rideshare Rental, Inc. uniquely supports drivers in both the higher and lower economic categories with innovative policies and programs. Rideshare Rental, Inc. is a leading provider of rental vehicles to drivers in the ever-expanding gig economy.Rideshare Rental, Inc. provides SEC filings, investor events, press and earnings releases about our financial performance on the investor relations section of our website (www.yayyo.com).Forward-Looking Statement DisclaimerThis press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this press release are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the company cautions investors that actual results may differ materially from the anticipated results.Public Relations Contact Ramy El-Batrawi Phone: 888-209-5643 Email: investors@yayyo.comRIDESHARE RENTAL, INC. (FORMERLY YAYYO, INC.) CONDENSED CONSOLIDATED BALANCE SHEETS As of September 30, 2020 and December 31, 2019  September 30,  December 31,    2020  2019    (unaudited)     ASSETS         Current Assets:         Cash $84,732  $1,256,429  Accounts receivable  53,338   59,331  Prepaid expenses  431,973   782,900  Total current assets  570,043   2,098,660            Equipment, net  2,280   3,395  Rental vehicles, net  7,140,289   4,737,047  Deposit on vehicles  -   164,080  Other assets  200,000   200,000  TOTAL ASSETS $7,912,612  $7,203,182            LIABILITIES AND STOCKHOLDERS’ DEFICIT                   Current Liabilities:         Accounts payable (including $692,386 and $394,183 to related party) $1,453,305  $545,254  Accrued expenses (including $0 and $171,665 to related party)  432,815   405,977  Notes payables, current (net of discount of $4,570 and $32,289)  497,872   287,378  Advance from related party  50,000   -  Finance lease obligations, current  1,689,534   1,416,446  Total current liabilities  4,123,526   2,655,055            Note payable, net of current portion  149,900   -  Finance lease obligations, net of current portion  1,978,238   984,119            TOTAL LIABILITIES  6,251,664   3,639,174            Commitments and contingencies  -   -            STOCKHOLDERS’ DEFICIT         Preferred stock, $0.000001 par value; 10,000,000 shares authorized; nil shares issued and outstanding  -   -  Common stock, $0.000001 par value; 90,000,000 shares authorized; 31,981,374 and 29,427,803 shares issued and outstanding  32   29  Additional paid-in capital  29,708,377   28,735,894  Accumulated deficit  (28,047,461)  (25,171,915) Total stockholders’ deficit  1,660,948   3,564,008  TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT $7,912,612  $7,203,182            RIDESHARE RENTAL, INC. (FORMERLY YAYYO, INC.) CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS For the Three and Nine Months Ended September 30, 2020 and 2019 (unaudited)  Three Months Ended September 30,  Nine Months Ended September 30,    2020  2019  2020  2019                Revenue $2,070,821  $1,718,439  $5,399,018  $5,193,957                    Cost of revenue  1,194,957   1,067,373   3,891,307   3,111,614                    Gross profit  875,864   651,066   1,507,711   2,082,343                    Operating expenses:                 Selling and marketing expenses  113,904   80,039   324,546   182,645  General and administrative expenses  1,088,152   761,151   3,845,768   2,221,962  Loss on the settlement of debt  -   -   -   252,900  Total operating expenses  1,202,056   841,190   4,170,314   2,657,507                    Loss from operations  (326,192)  (190,124)  (2,662,603)  (575,164)                   Other income (expense):                 Interest and financing costs  (65,292)  (180,531)  (212,943)  (792,406) Total other income (expense)  (65,292)  (180,531)  (212,943)  (792,406)                   Net loss $(391,484) $(370,655) $(2,875,546) $(1,367,570)                   Weighted average shares outstanding :                 Basic  31,981,374   26,802,803   30,828,676   26,774,636  Diluted  31,981,374   26,802,803   30,828,676   26,774,636                    Loss per share                 Basic $(0.01) $(0.01) $(0.09) $(0.05) Diluted $(0.01) $(0.01) $(0.09) $(0.05)                   RIDESHARE RENTAL, INC. (FORMERLY YAYYO, INC.) CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIT) For the Three and Nine Months Ended September 30, 2020 and 2019 (unaudited)        Additional     Total    Common Stock  Paid-in  Accumulated  Stockholders’    Shares  Amount  Capital  Deficit  Equity (Deficit)  Balance, December 31, 2019  29,427,803  $29  $28,735,894  $(25,171,915) $3,564,008                        Stock option expense          457,242       457,242  Net loss              (1,761,220)  (1,761,220)                       Balance, March 31, 2020  29,427,803   29   29,193,136   (26,933,135)  2,260,030                        Issuance of common stock for cash  2,553,571   3   274,997       275,000  Net loss              (722,842)  (722,842)                       Balance, June 30, 2020  31,981,374   32   29,468,133   (27,655,977)  1,812,188                        Stock option expense          240,244       240,244  Net loss              (391,484)  (391,484)                       Balance, September 30, 2020  31,981,374  $32  $29,708,377  $(28,047,461) $1,660,948                        Balance, December 31, 2018  26,718,676  $27  $19,193,151  $(21,241,694) $(2,048,516)                       Issuance of common stock for settlement of debt  80,000       640,000       640,000  Net loss              (579,463)  (579,463)                       Balance, March 31, 2019  26,798,676   27   19,833,151   (21,821,157)  (1,987,979)                       Issuance of common stock for settlement of debt  4,300       34,400       34,400  Net loss                     (417,452)  (417,452)                       Balance, June 30, 2019  26,802,976   27   19,867,551   (22,238,609)  (2,371,031)                       Correction to outstanding shares  (173)                 Net loss              (370,655)  (370,655)                       Balance, September 30, 2019  26,802,803  $27  $19,867,551  $(22,609,264) $(2,741,686)                       RIDESHARE RENTAL, INC. (FORMERLY YAYYO, INC.) CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS For the Nine Months Ended September 30, 2020 and 2019 (unaudited)  2020  2019          CASH FLOWS FROM OPERATING ACTIVITIES:         Net loss $(2,875,546) $(1,367,570) Adjustments to reconcile net loss to net cash provided by (used in) operating activities:         Depreciation and amortization  1,047,075   730,610  Stock option expense  697,486   -  Common stock issued for services  -   -  Amortization of debt discounts  27,719   29,860  Loss on the settlement of debt  -   252,900  Changes in operating assets and liabilities:         Accounts receivable  5,993   (78,643) Prepaid expenses  350,927   1,394  Accounts payable  908,051   (419,958) Accrued expenses  26,838   697,518  Net cash provided by (used in) operating activities  188,543   (153,889)           CASH FLOWS FROM FINANCING ACTIVITIES:         Proceeds from notes payable  342,675   1,951,300  Proceeds from sale of common stock  275,000   -  Proceeds from advance from related party  200,000   -  Repayment of advance from related party  (150,000)  -  Repayment of notes payable  (10,000)  (967,652) Repayment of finance lease obligations  (2,017,915)  (1,025,863) Net cash used in financing activities  (1,360,240)  (42,215)           NET INCREASE (DECREASE) IN CASH  (1,171,697)  (196,104)           CASH, BEGINNING OF PERIOD  1,256,429   277,444            CASH, END OF PERIOD $84,732  $81,340            CASH PAID FOR:         Interest $185,224  $715,250  Income taxes $-  $-            SUPPLEMENTAL NON-CASH INVESTING AND FINANCING ACTIVITIES         Payment of accounts payable/accrued expenses with common stock $-  $421,500  Value of equity recorded as debt discounts $-  $-  Finance lease obligations $3,400,922  $510,136

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  • YayYo, Inc. Announces Company Name Change to Rideshare Rental, Inc.

    BEVERLY HILLS, Calif., Nov. 10, 2020 (GLOBE NEWSWIRE) -- YayYo, Inc. (OTC PINK: YAYO), a leading provider of vehicles to the rideshare and delivery gig economy industry, today announced its recent corporate name change to Rideshare Rental, Inc., effective as of September 11, 2020.  The company has used the name YayYo, Inc since its inception, with Rideshare Car Rentals, LLC operating as its wholly-owned subsidiary. The name change reflects the company's shift since 2017 away from the development of a Metasearch App to a corporate focus in the growing rideshare and gig economy transportation industry.Rideshare Rental, Inc., a Delaware corporation, is a holding company operating through its wholly-owned subsidiaries, Distinct Cars, LLC and Rideshare Car Rentals, LLC. Each subsidiary is a Delaware limited liability company. Rideshare Rental, Inc.’s operating business segments include:Rideshare Platform—On October 31, 2017, the company created the wholly-owned subsidiary Rideshare Car Rentals, LLC to incubate the concept of a proprietary transportation network system focused on the development of a peer-to-peer booking platform to rent passenger vehicles to self-employed rideshare and delivery drivers. The company deployed and launched the rideshare platform on Ridesharerental.com (http://www.Ridesharerental.com). The rideshare platform now exists as a proprietary peer-to-peer car-rental marketplace, connecting drivers seeking rental vehicles with the company’s fleet of vehicles and other fleet owners.Fleet Management— On June 10, 2017, the company formed the wholly-owned subsidiary Distinct Cars, LLC for purposes of developing a fleet management business. The fleet management business focuses on the maintenance of a fleet of brand-new passenger vehicles, under lease contract with the company, to be subsequently rented directly to drivers in the gig economy. The fleet management business and vehicles are made available through the company’s rideshare platform.“This new name reflects our business mobility strategy and our focus as a leading provider of rental vehicles to rideshare and delivery drivers, who are the backbone of the gig economy,” says Rideshare Rental Inc. Chief Executive Officer, Ramy El-Batrawi. About Rideshare Rental, Inc. Rideshare Rental, Inc. bridges the gap between rideshare drivers in need of a suitable vehicle and rideshare companies that depend on attracting and keeping drivers. Rideshare Rental, Inc. uniquely supports drivers in both the higher and lower economic categories with innovative policies and programs. Rideshare Rental, Inc. is a leading provider of rental vehicles to drivers in the ever-expanding gig economy.Rideshare Rental, Inc. provides SEC filings, investor events, press and earnings releases about our financial performance on the investor relations section of our website (www.yayyo.com).Forward-Looking Statement DisclaimerThis press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this press release are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the company cautions investors that actual results may differ materially from the anticipated results.Public Relations Contact Ramy El-Batrawi Phone: 888-209-5643 Email: investors@yayyo.com

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  • SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in YayYo, Inc. of Class Action Lawsuit and Upcoming Deadline - YAYO

    Pomerantz LLP announces that a class action lawsuit has been filed against YayYo, Inc. ("YayYo" or the "Company") (NASDAQ: YAYO) and certain of its officers. The class action, filed in United States District Court for the Central District of California, and docketed under 20-cv-08591, is on behalf of a class consisting of all persons other than Defendants who purchased or otherwise, acquired YayYo common stock pursuant and/or traceable to the registration statement and related prospectus (collectively, the "Registration Statement") issued in connection with YayYo's November 13, 2019, initial public offering (the "IPO" or "Offering"), seeking to recover compensable damages caused by Defendants' violations of the Securities Act of 1933 (the "Securities Act").

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  • FINAL DEADLINE TODAY: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against YayYo, Inc. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm

    LOS ANGELES, CA / ACCESSWIRE / November 9, 2020 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class-action lawsuit against YayYo, Inc.

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