Quarterly report pursuant to Section 13 or 15(d)

Financial Arrangements (Details Narrative)

v3.20.2
Financial Arrangements (Details Narrative)
1 Months Ended 3 Months Ended 9 Months Ended
Sep. 30, 2020
USD ($)
$ / shares
shares
May 31, 2020
USD ($)
Oct. 31, 2019
USD ($)
shares
Apr. 30, 2020
USD ($)
Feb. 29, 2020
USD ($)
Dec. 31, 2019
USD ($)
Integer
$ / shares
shares
Sep. 30, 2020
USD ($)
$ / shares
shares
Dec. 31, 2019
USD ($)
$ / shares
Sep. 30, 2019
USD ($)
$ / shares
shares
Mar. 31, 2019
USD ($)
$ / shares
shares
Sep. 30, 2020
USD ($)
$ / shares
shares
Sep. 30, 2019
USD ($)
$ / shares
Feb. 02, 2020
Long-term debt amount $ 241,399         $ 1,666,284 $ 241,399 $ 1,666,284     $ 241,399    
Warrants exercise price | $ / shares $ 6.17         $ 7.33 $ 6.17 $ 7.33     $ 6.17    
Amortization of discount on debt                     $ 236,398 $ 60,650  
Loss on debt extinguishment realated to unamortized discount             $ (213,700)     $ (566,925)  
Common Stock [Member]                          
Warrants to purchase common stock | shares 173,091           173,091       173,091    
Warrants exercise price | $ / shares $ 2.50           $ 2.50       $ 2.50    
2020 Paycheck Protection Program Term Note [Member]                          
Long-term debt amount $ 218,000 $ 218,000       $ 218,000     $ 218,000    
Debt maturity date   May 20, 2022                      
Interest rate   1.00%                      
Interest expense             818       818    
2019 Founder Bridge Note [Member]                          
Long-term debt amount   $ 500,000     500,000 500,000        
Interest rate     14.00%                    
Interest expense             17,500   0   52,500 0  
Debt discount     $ 343,746                    
Repayment of debt 517,405                        
Repayment of debt, principal 500,000                        
Repayment of debt, accrued interest 17,405                        
Amortization of discount on debt             58,655   0   103,603 0  
Loss on debt extinguishment realated to unamortized discount                     193,693    
2019 Founder Bridge Note [Member] | Mr. Adams [Member]                          
Number of common stock shares granted | shares     143,975                    
Debt instrument term, description     On December 13, 2019, Mr. Adams agreed to modify the terms of the note and extend the maturity date until April 30, 2021                    
Number of shares issued | shares     136,340                    
2019 Vendor Payable Conversion Note [Member]                          
Long-term debt amount         $ 137,729 $ 137,729        
Interest rate           15.00%   15.00%          
Interest expense             5,136   0   15,466 0  
Repayment of debt 143,454                        
Repayment of debt, principal 137,729                        
Repayment of debt, accrued interest 5,725                        
Amortization of discount on debt             8,003   0   24,009 0  
Loss on debt extinguishment realated to unamortized discount                     20,007    
2019 Convertible Bridge Note [Member]                          
Long-term debt amount         $ 1,000,000 $ 1,000,000        
Interest rate           5.00%   5.00%          
Interest expense             0   0   20,833 0  
Number of common stock shares granted | shares           17,997              
Debt discount           $ 46,683   $ 46,683          
2019 Convertible Notes [Member]                          
Long-term debt amount           $ 290,000   290,000   $ 800,000      
Interest expense             0   10,452   0 46,026  
Debt instrument term, description                   The terms for the notes were sixty (60) days with an additional sixty-day extension to be exercised at the discretion of the Company.      
Debt intstrument interest rate, description                   The notes accrued interest at twelve (12%) for the first sixty days and at fifteen percent (15%) for the sixty-day extension.      
Debt Instrument, Convertible, Terms of Conversion Feature                   The lenders had the option to convert the notes and accrued interest into AYRO Seed Preferred Stock (see Note 9) at $1.75 per share before the sixty-day extension period has expired. In May 2019, four lenders converted $350,000 of principle and $9,062 of accrued interest into 205,178 of AYRO Seed Preferred Stock. In September 2019, one lender converted $100,000 of convertible notes to a twelve-month term loan (see 2019 $250,000 Bridge Notes). Additionally, two lenders redeemed $60,000 in principal from their outstanding note. Warrants to purchase up to 26,586 of common stock at a price of $7.33 per share were issued in connection with the notes.      
Debt Instrument, Convertible, Conversion Price | $ / shares                   $ 1.75      
Warrants to purchase common stock | shares                   26,586      
Warrants exercise price | $ / shares                   $ 7.33      
Warrants term                   5 years      
Amortization of discount on debt             0   $ 32,766 $ 69,174 0 $ 60,650  
2019 Convertible Notes [Member] | Series Seed Preferred Stock [Member]                          
Debt instrument converted into stock | Integer           343,482              
2019 Bridge Notes [Member]                          
Long-term debt amount           $ 425,000   425,000          
Interest rate                 12.00%     12.00%  
Debt Instrument, Convertible, Terms of Conversion Feature                 During the third quarter of 2019, the Company received cash in exchange for term loans from five individual lenders, totaling $250,000. Additionally, one lender holding convertible debt, converted $100,000 in principal amount to a term loan (see 2019 $800,000 Convertible Notes).        
Amortization of discount on debt                 $ 187,675        
Proceeds from exchange of term loans               75,000 $ 250,000        
Debt Instrument, Term                 12 months        
2019 Bridge Notes [Member] | Common Stock [Member]                          
Number of shares issued | shares                 122,379        
Stock price | $ / shares                 $ 0.2880     $ 0.2880  
2019 Bridge Notes [Member] | Series Seed Preferred Stock [Member]                          
Debt instrument converted into stock | Integer           433,820              
2020 Bridge Notes [Member]                          
Interest rate                         7.00%
Interest expense             0   $ 0   9,373 $ 0  
Debt instrument term, description         The maturity date of the notes was the earlier of (1) the closing of the Merger, (2) May 31, 2020, and (3) ninety (90) days the Company determines not to proceed with the Merger.                
Proceeds from exchange of term loans         $ 500,000                
Note Payable [Member]                          
Long-term debt amount $ 23,399     $ 600,000   $ 28,555 23,399 $ 28,555     23,399    
Interest rate       15.00%                  
Interest expense             0   0   10,233 0  
Amortization of discount on debt       $ 462,013     $ 0   $ 0   108,788 $ 0  
Loss on debt extinguishment realated to unamortized discount                     $ 353,225    
Debt instrument, description       In April 2020, the Company issued a secured promissory note payable to an individual investor providing $600,000 of short-term financing. The notes carried an interest rate of fifteen percent (15%) and were to be repaid upon the earlier of (1) closing date of the pending the Merger and (2) July 14, 2020. Fifty percent (50%) of the principal amount was personally guaranteed by Mark Adams, a founding board member. In conjunction with the notes, 553,330 (276,665 shares of common stock representing two percent (2%) of the combined company's post-merger outstanding common stock each) was issued to the lender and to Mr. Adams as compensation for his personal guarantee. A discount on debt of $462,013 was recorded in the transaction and was being amortized over the life of the note as a component of interest expense on the accompanying unaudited condensed consolidated statements of operations.