Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Sep. 20, 2023 | Jun. 30, 2022 | |
Document Information [Line Items] | |||
Entity Central Index Key | 0001563568 | ||
Entity Registrant Name | Envirotech Vehicles, Inc. | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --12-31 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2022 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 2022 | ||
Document Transition Report | false | ||
Entity File Number | 001-38078 | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 46-0774222 | ||
Entity Address, Address Line One | 1425 Ohlendorf Road | ||
Entity Address, City or Town | Osceola | ||
Entity Address, State or Province | AR | ||
Entity Address, Postal Zip Code | 72370 | ||
City Area Code | 870 | ||
Local Phone Number | 970-3355 | ||
Title of 12(b) Security | Common Stock, $0.00001 par value | ||
Trading Symbol | EVTV | ||
Security Exchange Name | NASDAQ | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | No | ||
Entity Interactive Data Current | No | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
ICFR Auditor Attestation Flag | false | ||
Document Financial Statement Error Correction [Flag] | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 76,900,000 | ||
Entity Common Stock, Shares Outstanding | 15,106,088 | ||
Auditor Name | Barton CPA PLLC | ||
Auditor Firm ID | 6968 | ||
Auditor Location | Cypress, Texas |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
ASSETS | ||
Cash and cash equivalents | $ 2,765,068 | $ 4,846,490 |
Restricted cash | 60,399 | 60,035 |
Marketable securities | 2,336,402 | 8,002,700 |
Accounts receivable, net of allowance of $271,218 and $0, respectively, | 2,073,691 | 1,428,030 |
Inventory, net | 5,671,326 | 3,850,541 |
Inventory deposits | 4,829,933 | 4,503,079 |
Prepaid expenses | 445,963 | 332,514 |
Other current assets | 156,457 | 0 |
Total current assets | 18,339,239 | 23,023,389 |
Property and equipment, net | 368,461 | 272,113 |
Goodwill | 14,682,620 | 51,775,667 |
Other non-current assets | 93,369 | 236,639 |
Total assets | 33,483,689 | 75,307,808 |
Current liabilities: | ||
Accounts payable | 603,744 | 238,464 |
Accrued liabilities | 652,528 | 1,280,020 |
Notes payable - Current | 215,766 | 31,788 |
Total current liabilities | 1,472,038 | 1,550,272 |
Long-term liabilities | ||
Other non-current liabilities | 0 | 2,427 |
Notes payable - Long Term | 16,671 | 13,245 |
Total liabilities | 1,488,709 | 1,565,944 |
Stockholders’ equity: | ||
Preferred stock, 5,000,000 authorized, $0.00001 par value per share, none issued and outstanding as of December 31, 2022 and 2021 | 0 | 0 |
Common stock, 350,000,000 authorized, $0.00001 par value per share, 15,021,088 and 14,912,189 issued and outstanding as of December 31, 2022 and 2021, respectively | 150 | 149 |
Additional paid-in capital | 83,923,350 | 81,866,075 |
Accumulated deficit | (51,928,520) | (8,124,360) |
Total stockholders’ equity | 31,994,980 | 73,741,864 |
Total liabilities and stockholders’ equity | $ 33,483,689 | $ 75,307,808 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Allowance | $ 271,218 | $ 0 |
Preferred Stock, Shares Authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred stock, par value (in dollars per share) | $ 0.00001 | $ 0.00001 |
Preferred Stock, Shares Outstanding (in shares) | 0 | 0 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Common stock, shares authorized (in shares) | 350,000,000 | 350,000,000 |
Common stock, par value (in dollars per share) | $ 0.00001 | $ 0.00001 |
Common stock, shares issued (in shares) | 15,021,088 | 14,912,189 |
Common stock, shares outstanding (in shares) | 15,021,088 | 14,912,189 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Sales | $ 4,504,621 | $ 2,042,844 |
Cost of sales | 2,772,673 | 1,281,468 |
Gross profit | 1,731,948 | 761,376 |
Operating expenses: | ||
General and administrative | 7,996,906 | 8,238,531 |
Consulting | 339,505 | 188,703 |
Research and development | 149,912 | 58,139 |
Goodwill impairment charge | 37,093,047 | 0 |
Total operating expenses, net | 45,579,370 | 8,485,373 |
Loss from operations | (43,847,422) | (7,723,997) |
Other income (expense): | ||
Interest income, net | 45,026 | 4,412 |
Other (expense) income, net | (1,764) | 288,185 |
Total other income | 43,262 | 292,597 |
Loss before income taxes | (43,804,160) | (7,431,400) |
Income tax expense | 0 | (220,700) |
Net loss | $ (43,804,160) | $ (7,652,100) |
Net loss per share to common stockholders: | ||
Basic and diluted (in dollars per share) | $ (2.92) | $ (0.67) |
Weighted shares used in the computation of net loss per share: | ||
Basic and diluted (in shares) | 14,991,837 | 11,451,724 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) | EVTDS Common Stock [Member] Common Stock [Member] | EVTDS Common Stock [Member] Additional Paid-in Capital [Member] | EVTDS Common Stock [Member] Retained Earnings [Member] | EVTDS Common Stock [Member] | ADOMANI INC Common Stock [Member] Common Stock [Member] | ADOMANI INC Common Stock [Member] Additional Paid-in Capital [Member] | ADOMANI INC Common Stock [Member] Retained Earnings [Member] | ADOMANI INC Common Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2020 | 1 | |||||||||||
Balance at Dec. 31, 2020 | $ 0 | $ 100 | $ (472,260) | $ (472,160) | ||||||||
Common stock issued for cash in merger (in shares) | 7,129,887 | 5,635,348 | 2,146,953 | |||||||||
Common stock issued for cash in merger | $ 72 | $ 6,415,038 | $ 0 | $ 6,415,110 | $ 56 | $ 55,738,323 | $ 0 | $ 55,738,379 | ||||
Common stock issued for cash | $ 21 | 16,486,189 | 0 | 16,486,210 | ||||||||
Offering costs netted against proceeds from common stock issued for cash | 0 | (188,015) | 0 | (188,015) | ||||||||
Stock based compensation | 0 | 3,414,440 | 0 | 3,414,440 | ||||||||
Net loss | $ 0 | 0 | (7,652,100) | (7,652,100) | ||||||||
Balance (in shares) at Dec. 31, 2021 | 14,912,189 | |||||||||||
Balance at Dec. 31, 2021 | $ 149 | 81,866,075 | (8,124,360) | 73,741,864 | ||||||||
Common stock issued for cash in merger (in shares) | 50,000 | |||||||||||
Common stock issued for cash | $ 1 | 119,999 | 0 | 120,000 | ||||||||
Stock based compensation | 0 | 1,614,845 | 0 | 1,614,845 | ||||||||
Net loss | $ 0 | 0 | (43,804,160) | (43,804,160) | ||||||||
Common stock issued for litigation settlements accrued in 2021 (in shares) | 58,899 | |||||||||||
Common stock issued for litigation settlements accrued in 2021 | $ 0 | 322,431 | 0 | 322,431 | ||||||||
Balance (in shares) at Dec. 31, 2022 | 15,021,088 | |||||||||||
Balance at Dec. 31, 2022 | $ 150 | $ 83,923,350 | $ (51,928,520) | $ 31,994,980 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Cash flows from operating activities: | ||
Net loss | $ (43,804,160) | $ (7,652,100) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 97,242 | 70,279 |
Provision for bad debt | 245,219 | 303,879 |
Stock based compensation expense | 1,614,845 | 3,414,440 |
Goodwill impairment charge | 37,093,047 | 0 |
Gain on debt forgiveness | 0 | (290,520) |
Other | (10,004) | 4,673 |
Changes in assets and liabilities: | ||
Accounts receivable | (890,880) | (1,415,657) |
Inventory | (1,820,785) | (3,198,877) |
Inventory deposits | (326,854) | (4,503,079) |
Prepaid expenses | 325,638 | 693,375 |
Other current assets | (156,457) | 0 |
Other non-current assets | 143,270 | 123,343 |
Accounts payable | 365,284 | (235,306) |
Accrued liabilities | (305,065) | (10,229) |
Other non-current liabilities | (2,427) | (240,976) |
Net cash used in operating activities | (7,432,087) | (12,936,755) |
Cash flows from investing activities: | ||
Purchase of property and equipment, net | (168,583) | (27,958) |
Purchases of marketable securities | (3,942,940) | (16,233,213) |
Proceeds from sales and maturities of marketable securities | 9,619,242 | 8,210,000 |
Cash acquired in merger | 0 | 3,373,332 |
Net cash provided by (used in) investing activities | 5,507,719 | (4,677,839) |
Cash flows from financing activities: | ||
Proceeds from issuance of common stock | 120,000 | 21,107,410 |
Payments for deferred offering costs | 0 | (188,015) |
Principal advances from (repayments on) debt | (276,690) | (328,408) |
Net cash (used in) provided by financing activities | (156,690) | 20,590,987 |
Net change in cash, restricted cash and cash equivalents | (2,081,058) | 2,976,393 |
Cash, restricted cash and cash equivalents at the beginning of the period | 4,906,525 | 1,930,132 |
Cash, restricted cash and cash equivalents at the end of the period | 2,825,467 | 4,906,525 |
Supplemental cash flow disclosures: | ||
Cash paid for interest expense | 16,338 | 7,705 |
Cash paid for income taxes | 0 | 2,400 |
Non-cash investing and financing activities: | ||
Common stock issued in litigation settlements accrued in 2022 | 322,431 | 0 |
Notes payable issued to finance prepaid insurance | 439,087 | 0 |
Notes payable issued to finance purchase of property and equipment | $ 25,007 | $ 0 |
Note 1 - Organization and Opera
Note 1 - Organization and Operations | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | 1. Envirotech Vehicles, Inc. (“we,” “us,” “our” or the “Company”) is a provider of purpose-built zero On March 15, 2021, zero February 16, 2021 ( 3 The Company was formerly known as ADOMANI, Inc. On May 26, 2021, May 26, 2021. On February 22, 2022, On June 28, 2022, 1 no 10 |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 2. Basis of Presentation December 31, 2022 3 December 31, 2022 December 31, 2021 December 31, 2021 March 16, 2021 December 31, 2021. Principles of Consolidation March 16, 2021 December, 2021), Use of Estimates Fair Value of Financial Instruments No. 820, three Level 1: Level 2: Level 3: no The Company does not Revenue Recognition zero 606, December 31, 2022 December 31, 2021, December 31, 2021, In applying ASC Topic 606, ( 1 identify any contracts with customers; ( 2 determine if multiple performance obligations exist; ( 3 determine the transaction price; ( 4 allocate the transaction price to the respective obligation; and ( 5 recognize the revenue as the obligation is satisfied. Product revenue consists primarily of the sale of electric trucks and cargo vans. These sales represent a single performance obligation with revenue recognition occurring at the time title transfers. Transfer of title generally occurs when the customer has accepted the vehicle and signed the appropriate documentation acknowledging receipt. At this time, the title of the vehicle is transferred to the customer. The Company provides the option of financing (flooring) to Factory Authorized Representatives (“FARs”) for demo vehicles that are used in their selling process. Flooring agreements are made either expressly or implicitly and last no one first 606 not Other revenue for the year ended December 31, 2021 December 31, 2021 not 2022 not Cash and Cash Equivalents three Restricted Cash December 31, 2022 December 31, 2021, Short-term Investments not December 31, 2022 December 31, 2021, December 31, 2021, Accounts Receivable and Allowance for Doubtful Accounts not may two nine not December 31, 2022. December 31, 2021 December 31, 2022 December 31, 2021 December 31, 2022 December 31, 2021, 81 December 31, 2021, Inventory and Inventory Valuation Allowance not December 31, 2022 three not December 31, 2022 December 31, 2021 December 31, 2021 Inventory Deposits three December 31, 2022 2021 December 31, 2022 December 31, 2022 December 31, 2021, December 31, 2021; two December 31, 2021. Income Taxes—The Company uses the liability method, where deferred tax assets and liabilities are determined based on the expected future tax consequences of temporary differences between the carrying amounts of assets and liabilities for financial and income tax reporting purposes. EVTDS previously recorded deferred tax benefits from net operating losses in current and prior periods. The Company, in light of the uncertainty of generating future taxable income against which those losses can be offset in order to realize such benefits, has determined that recording a valuation allowance to reduce the deferred income tax assets to the amount that is more likely than not December 31, 2020, not March 2021, December 31, 2021 December 31, 2022. Accounting for Uncertainty in Income Taxes December 31, 2022 2021 not Net Loss Per Share Diluted net loss per share is calculated by dividing the Company’s net loss applicable to common stockholders by the diluted weighted average number of shares of common stock outstanding during the period. The diluted weighted average number of shares of common stock outstanding is the basic weighted number of shares of common stock adjusted for any potentially dilutive debt or equity securities. As of December 31, 2022 December 31, 2021 not December 31, 2022 2021 Concentration of Credit Risk $250,000 may The Company’s bank requires compensating balances, which are reported as Restricted Cash on the Company's Consolidated Balance Sheets as disclosed above, for a subsidiary’s potential lease exposure and for the Company’s credit card limit, resulting in restricted cash of $60,399 and approximately $60,000 at December 31, 2022 2021 Impairment of Long-Lived Assets may not December 31, 2022 December 31, 2021 Goodwill not not first not not not eporting unit level by comparing the estimated fair value of a reporting unit with its respective carrying value to determine the amount of impairment, if any. The Company has determined that it has one fourth 2022 $37,093,047 December 31, 2022 . See Note 3 Research and Development ("R&D") December 31, 2022 December 31, 2021, Stock-Based Compensation 718, January 7, 2022 January 31, 2022 ( 9 December 31, 2022 August 4, 2021 ( 9 December 31, 2021 December 31, 2021 $3,414,440. Property and Equipment three five Leases 842 Recent Accounting Pronouncements not not |
Note 3 - Merger
Note 3 - Merger | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Mergers, Acquisitions and Dispositions Disclosures [Text Block] | 3. On March 15, 2021, zero one 7,129,887 shares 805 March 16, 2021 The primary reasons EVTDS consummated the merger with ADOMANI, Inc. were the opportunity to immediately become a public company without the process of doing its own initial public offering, affording it the opportunity to more quickly raise capital (see Note 7 two two At December 31, 2020, two one December 31, 2020. December 31, 2021. EVTDS entered into an exclusive 50-year distribution agreement as of October 4, 2017 may not The following table presents the estimated allocation of the purchase price of the assets acquired and liabilities assumed for the acquisition by EVTDS of ADOMANI, Inc. via the reverse acquisition: Purchase Price Allocation of ADOMANI, Inc. Accounts receivable and other current assets $ 1,680,926 Property and equipment 86,873 Right of use asset 369,987 Other assets 59,510 Goodwill 51,775,667 Accounts payable and accrued expenses (820,389 ) Lease liability (369,987 ) Notes payable (417,540 ) Purchase price, net of $3,373,332 cash acquired $ 52,365,047 This allocation is based on management’s estimated fair value of the ADOMANI Inc. assets and liabilities at March 15, 2021. March 15, 2021 9 none Since the closing of the Merger on March 15, 2021, no not 11 13 not Unaudited Pro Forma Financial Information The following unaudited pro forma financial information presents the combined results of operations for the Company and gives effect to the Merger discussed above as if it had occurred on January 1, 2021. not December 31, 2021 January 1, 2021, not For the year ended December 31, Pro forma combined results of operations 2021 Sales $ 1,740,255 Net loss $ (10,296,024 ) The adjustments for the year ended December 31, 2021 January 1, 2021 March 15, 2021 December 31, 2021 Goodwill The following table presents a reconciliation of the carrying amount of goodwill for the year ended December 31, 2022 Goodwill, December 31, 2021 $ 51,775,667 Goodwill impairment charge (37,093,047 ) Goodwill, December 31, 2022 $ 14,682,620 |
Note 4 - Property and Equipment
Note 4 - Property and Equipment, Net | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 4. Components of property and equipment, net consist of the following as of December 31, 2022 2021 December 31, 2022 December 31, 2021 Furniture and fixtures $ 56,646 $ 41,799 Leasehold improvements 122,711 28,112 Machinery & equipment 165,753 86,266 Vehicles 252,724 252,724 Test/Demo vehicles 15,784 15,784 Total property and equipment 613,618 424,685 Less accumulated depreciation (245,157 ) (152,572 ) Net property and equipment $ 368,461 $ 272,113 Depreciation expense was $97,242 and $70,729 for the years ended December 31, 2022 2021 |
Note 5 - Income Taxes
Note 5 - Income Taxes | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 5. The cumulative estimated net operating loss (“NOL”) carry-forward is $37,312,984 December 31, 2022 2021 $22,935,645 may 20 December 31, 2020, not 2, December 31, 2021 2017, 2018 21%. 21% December 31, 2022 2021 Tax effected net operating loss $ 1,169,392 $ 866,991 Deferred tax asset attributable to: Net operating loss carryover 6,666,335 5,716,044 Research and development tax credit carryforward 274,891 274,891 Sub-total 8,110,618 6,857,926 Valuation allowance (8,110,618 ) (6,857,926 ) Net deferred tax asset $ — $ — Cumulative NOL $ 37,312,984 $ 31,347,786 Due to the change in ownership provisions of the Tax Reform Act of 1986, 2012 2022 2014 2020 2021 2019 |
Note 6 - Notes Payable
Note 6 - Notes Payable | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 6. On June 15, 2021, twenty-four July 2021, December 31, 2022 On August 10, 2022, August 2022, December 31, 2022 Effective August 4, 2022, no may may not December 31, 2022, no Effective May 2, 2018, 30 no may may not December 31, 2021, Effective June 15, 2022, nine July 2022, Effective August 20, 2022, second nine September 2022, |
Note 7 - Common Stock
Note 7 - Common Stock | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Equity [Text Block] | 7. On March 15, 2021, 3 On December 24, 2020, The first December 29, 2020. March 15, 2021. 3. The second May 7, 2021, 3 3 No. 333 255341 April 19, 2021, second In addition to the $16,274,991 cash equity proceeds received during the year ended December 31, 2021 December 31, 2022 2021 9. |
Note 8 - Stock Warrants
Note 8 - Stock Warrants | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Warrants [Text Block] | 8. As a result of the Merger closing (see Note 3 March 15, 2021, 2022 2021, second 7, December 31, 2022 Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (years) Outstanding warrants expiring January 9, 2023 12,833 $ 75 0.02 Outstanding warrants expiring January 28, 2025 431,250 $ 10 2.08 Outstanding warrants expiring May 7, 2026 958,334 $ 20 3.35 Outstanding warrants on December 31, 2022 1,402,417 $ 17 2.93 The Warrants issued as part of the Purchase Agreement (see Note 7 13 four 20 may not ten may As of December 31, 2022 2021, |
Note 9 - Stock Options
Note 9 - Stock Options | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | 9. The following is a summary of stock option activity under the Company’s 2017 December 31, 2022 Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (years) Outstanding EVTDS at December 31, 2020 - Options acquired in Merger 649,643 $ 5.80 4.61 Exercised (287,536 ) $ 2.40 Cancelled/Forfeited at $2.40 Exercise Price (3,357 ) $ 2.40 Cancelled/Forfeited at $9.00 Exercise Price (10,500 ) $ 9.00 Cancelled/Forfeited at $26.20 Exercise Price (9,750 ) $ 26.20 Subtotal, as follows: 338,500 Outstanding options at $2.40 Exercise Price 50,000 $ 2.40 Outstanding options at at $9.00 Exercise Price 281,750 $ 9.00 Outstanding options at $26.20 Exercise Price 6,750 $ 26.20 Outstanding at December 31, 2021 338,500 $ 8.40 6.98 Options Granted during 2022: Options Granted at $2.00 Exercise Price 250,000 $ 2.00 Options Granted at $2.40 Exercise Price 90,893 $ 2.40 Options Granted at $3.62 Exercise Price 2,762 $ 3.62 Options Granted at $9.00 Exercise Price 1,111 $ 9.00 Exercised (50,000 ) $ 2.40 Canceled/Forfeited (25,000 ) $ 9.00 Subtotal, as follows: 608,266 Outstanding Options at $2.00 Exercise Price 250,000 $ 2.00 9.05 Outstanding Options at $2.40 Exercise Price 90,893 $ 2.40 9.05 Outstanding Options at $3.62 Exercise Price 2,762 $ 3.62 4.09 Outstanding Options at $9.00 Exercise Price 257,861 $ 9.00 7.96 Outstanding Options at $26.20 Exercise Price 6,750 $ 9.00 5.30 Outstanding at December 31, 2022 608,266 $ 5.30 8.52 Exercisable at December 31, 2022 605,101 $ 5.30 8.54 On January 7, 2022, tenth On January 7, 2022, tenth On January 31, 2022, 1/60th five tenth On March 15, 2022, March 15, 2022, not March 15, 2022. On August 4, 2021, The options granted during 2022 December 31, 2022. 2022 Risk-free interest rate 1.76 % Expected volatility 146.3 % Expected option term (years) 9.7 Expected dividend yield 0 % As of December 31, 2022 |
Note 10 - Related Party Transac
Note 10 - Related Party Transactions | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 10. The Company has entered into lease agreements with SRI Professional Services, Incorporated (“SRI”), pursuant to which the Company leases equipment used in connection with the operation of its business (the “SRI Equipment Leases”). Phillip W. Oldridge, the Company’s Chief Executive Officer and Chairman of the Board, and a member of its board of directors, serves as an executive officer and a member of the board of directors of SRI. The SRI Equipment Leases provide for the leasing of two January 1, 2020 December 1, 2019, EVTDS has entered into a cancelable month-to-month lease with SRI (the “SRI Office Lease”), pursuant to which EVTDS has leased office and warehouse space in the Porterville, California area for a term that commenced on January 1, 2020. In addition to the SRI Equipment Leases and the SRI Office Lease, during 2021, The Company has entered into a commercial lease agreement (the “ABCI Office Lease”) with Alpha Bravo Charlie, Inc. (“ABCI”) that commenced on April 1, 2020, January 13, 2023, 2023. 11 13. During 2021, In connection with the closing of the Merger in March 2021, no March 2021 second December 31, 2022 The following table summarizes these related party transactions for the years ending December 31, 2022 2021 Year Ended December 31, 2022 2021 SRI Equipment Leases $ 93,247 $ 116,559 SRI Office Lease 26,390 14,000 Truck & trailer purchase from SRI — 81,293 Total SRI 119,637 211,852 Vehicles purchased from Phillip W. Oldridge — 161,250 ABCI Office leases 33,600 50,610 Total $ 153,237 $ 423,712 |
Note 11 - Commitments
Note 11 - Commitments | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Commitments Disclosure [Text Block] | 11. Other Agreements On December 31, 2021, March 1, 2021, five one twelve January 1, 2022, one The following table summarizes the Company's future minimum payments under contractual commitments, excluding debt, as of December 31, 2021: Payments due by period Total Less than one year 1-3 years 4-5 years More than 5 years Operating lease obligations $ 46,173 $ 46,173 $ - $ - $ - Employment contracts 2,500,000 500,000 1,500,000 500,000 - Total $ 2,546,173 $ 546,173 $ 1,500,000 $ 500,000 $ - |
Note 12 - Contingencies
Note 12 - Contingencies | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Legal Matters and Contingencies [Text Block] | 12. Except as set forth below, we know of no no On December 17, 2019, No. 1914285, February 2, 2020, On or about July 18, 2021, No. S207532. 42 not On February 8, 2022, No. 5:22 00252 On May 10, 2022, not On August 23, 2018, No. 1817493, two June 2017. June 2017 12 2 15 Plaintiff’s counsel subsequently filed a first second third fourth October 27, 2020, fourth On July 13, 2021, August 23, 2021, August 23, 2021, not October 28, 2021, December 10, 2021, two On August 31, 2022, October 6, 2022, December 21, 2022. On June 19, 2019, No. 1 349153 two June 2017, September 20, 2019, first five 25401, November 12, 2019, August 10, 2021, two January 14, 2022, March 7, 2022, April 5, 2022, no On February 3, 2020, April 13, 2020, No. 20ST 14275, January 14, 2021, March 15, 2022. |
Note 13 - Leases
Note 13 - Leases | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 13. In October 2017, February 28, 2023. November 2020, October 2020, Two four March April 2021, two June 2021, two September 1, 2021. July 2, 2021, July 31, 2021 July 2, 2021. As of December 31, 2022 Five 10 2, 842. one 842, December 31, 2022 The Company has entered into the SRI Equipment Leases (see Note 10 December 31, 2022 2021 The Company has entered into the SRI Office Lease (see Note 10 December 31, 2022 2021 The Company has entered into the ABCI Office Lease (see Note 10 December 31, 2022 2021 The Company has entered into the Toledo Jet Center Lease for office space in the Ft. Lauderdale, Florida area effective February 15, 2022. one one December 31, 2022 In February 2017, 30 In December 2019, November 2020 36 January 1, 2020, December 31, 2022. March 31, 2022, April 1, 2022 On February 4, 2020, January 1, 2020 ( February 1, 2020, December 31, 2022. April 1, 2022, As required by ASC 842, December 31, 2021 December 31, 2021 December 31, 2021 April 1, 2022, December 31, 2022, December 31, 2022 Quantitative information regarding the Company’s leases is as follows: Year Ended December 31, 2022 2021 Lease expenses Operating lease expenses $ 61,380 $ 164,234 Short-term lease expenses $ 167,367 $ 88,312 Total lease cost $ 228,747 $ 252,546 Other information Cash paid for the amounts included in the measurement of lease liabilities for operating leases: Operating cash flows $ 45,767 $ 212,955 Weighted-average remaining lease term (in years): Operating leases 0.60 1.03 Weighted-average discount rate: Operating leases 14 % 14 % |
Note 14 - Subsequent Events
Note 14 - Subsequent Events | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 14. EVTV evaluated its subsequent events through September 25, 2023, In March 2023, two two July 1, 2023 ( September 1, 2023. two first second may |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2022 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation December 31, 2022 3 December 31, 2022 December 31, 2021 December 31, 2021 March 16, 2021 December 31, 2021. |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation March 16, 2021 December, 2021), |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments No. 820, three Level 1: Level 2: Level 3: no The Company does not |
Revenue from Contract with Customer [Policy Text Block] | Revenue Recognition zero 606, December 31, 2022 December 31, 2021, December 31, 2021, In applying ASC Topic 606, ( 1 identify any contracts with customers; ( 2 determine if multiple performance obligations exist; ( 3 determine the transaction price; ( 4 allocate the transaction price to the respective obligation; and ( 5 recognize the revenue as the obligation is satisfied. Product revenue consists primarily of the sale of electric trucks and cargo vans. These sales represent a single performance obligation with revenue recognition occurring at the time title transfers. Transfer of title generally occurs when the customer has accepted the vehicle and signed the appropriate documentation acknowledging receipt. At this time, the title of the vehicle is transferred to the customer. The Company provides the option of financing (flooring) to Factory Authorized Representatives (“FARs”) for demo vehicles that are used in their selling process. Flooring agreements are made either expressly or implicitly and last no one first 606 not Other revenue for the year ended December 31, 2021 December 31, 2021 not 2022 not |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents three |
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block] | Restricted Cash December 31, 2022 December 31, 2021, |
Investment, Policy [Policy Text Block] | Short-term Investments not December 31, 2022 December 31, 2021, December 31, 2021, |
Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block] | Accounts Receivable and Allowance for Doubtful Accounts not may two nine not December 31, 2022. December 31, 2021 December 31, 2022 December 31, 2021 December 31, 2022 December 31, 2021, 81 December 31, 2021, |
Inventory, Policy [Policy Text Block] | Inventory and Inventory Valuation Allowance not December 31, 2022 three not December 31, 2022 December 31, 2021 December 31, 2021 |
Inventory Deposits [Policy Text Block] | Inventory Deposits three December 31, 2022 2021 December 31, 2022 December 31, 2022 December 31, 2021, December 31, 2021; two December 31, 2021. |
Income Tax, Policy [Policy Text Block] | Income Taxes—The Company uses the liability method, where deferred tax assets and liabilities are determined based on the expected future tax consequences of temporary differences between the carrying amounts of assets and liabilities for financial and income tax reporting purposes. EVTDS previously recorded deferred tax benefits from net operating losses in current and prior periods. The Company, in light of the uncertainty of generating future taxable income against which those losses can be offset in order to realize such benefits, has determined that recording a valuation allowance to reduce the deferred income tax assets to the amount that is more likely than not December 31, 2020, not March 2021, December 31, 2021 December 31, 2022. |
Income Tax Uncertainties, Policy [Policy Text Block] | Accounting for Uncertainty in Income Taxes December 31, 2022 2021 not |
Earnings Per Share, Policy [Policy Text Block] | Net Loss Per Share Diluted net loss per share is calculated by dividing the Company’s net loss applicable to common stockholders by the diluted weighted average number of shares of common stock outstanding during the period. The diluted weighted average number of shares of common stock outstanding is the basic weighted number of shares of common stock adjusted for any potentially dilutive debt or equity securities. As of December 31, 2022 December 31, 2021 not December 31, 2022 2021 |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentration of Credit Risk $250,000 may The Company’s bank requires compensating balances, which are reported as Restricted Cash on the Company's Consolidated Balance Sheets as disclosed above, for a subsidiary’s potential lease exposure and for the Company’s credit card limit, resulting in restricted cash of $60,399 and approximately $60,000 at December 31, 2022 2021 |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Impairment of Long-Lived Assets may not December 31, 2022 December 31, 2021 |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill not not first not not not eporting unit level by comparing the estimated fair value of a reporting unit with its respective carrying value to determine the amount of impairment, if any. The Company has determined that it has one fourth 2022 $37,093,047 December 31, 2022 . See Note 3 |
Research and Development Expense, Policy [Policy Text Block] | Research and Development ("R&D") December 31, 2022 December 31, 2021, |
Share-Based Payment Arrangement [Policy Text Block] | Stock-Based Compensation 718, January 7, 2022 January 31, 2022 ( 9 December 31, 2022 August 4, 2021 ( 9 December 31, 2021 December 31, 2021 $3,414,440. |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment three five |
Lessee, Leases [Policy Text Block] | Leases 842 |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements not not |
Note 3 - Merger (Tables)
Note 3 - Merger (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Purchase Price Allocation of ADOMANI, Inc. Accounts receivable and other current assets $ 1,680,926 Property and equipment 86,873 Right of use asset 369,987 Other assets 59,510 Goodwill 51,775,667 Accounts payable and accrued expenses (820,389 ) Lease liability (369,987 ) Notes payable (417,540 ) Purchase price, net of $3,373,332 cash acquired $ 52,365,047 |
Business Acquisition, Pro Forma Information [Table Text Block] | For the year ended December 31, Pro forma combined results of operations 2021 Sales $ 1,740,255 Net loss $ (10,296,024 ) |
Schedule of Goodwill [Table Text Block] | Goodwill, December 31, 2021 $ 51,775,667 Goodwill impairment charge (37,093,047 ) Goodwill, December 31, 2022 $ 14,682,620 |
Note 4 - Property and Equipme_2
Note 4 - Property and Equipment, Net (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | December 31, 2022 December 31, 2021 Furniture and fixtures $ 56,646 $ 41,799 Leasehold improvements 122,711 28,112 Machinery & equipment 165,753 86,266 Vehicles 252,724 252,724 Test/Demo vehicles 15,784 15,784 Total property and equipment 613,618 424,685 Less accumulated depreciation (245,157 ) (152,572 ) Net property and equipment $ 368,461 $ 272,113 |
Note 5 - Income Taxes (Tables)
Note 5 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31, 2022 2021 Tax effected net operating loss $ 1,169,392 $ 866,991 Deferred tax asset attributable to: Net operating loss carryover 6,666,335 5,716,044 Research and development tax credit carryforward 274,891 274,891 Sub-total 8,110,618 6,857,926 Valuation allowance (8,110,618 ) (6,857,926 ) Net deferred tax asset $ — $ — Cumulative NOL $ 37,312,984 $ 31,347,786 |
Note 8 - Stock Warrants (Tables
Note 8 - Stock Warrants (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (years) Outstanding warrants expiring January 9, 2023 12,833 $ 75 0.02 Outstanding warrants expiring January 28, 2025 431,250 $ 10 2.08 Outstanding warrants expiring May 7, 2026 958,334 $ 20 3.35 Outstanding warrants on December 31, 2022 1,402,417 $ 17 2.93 |
Note 9 - Stock Options (Tables)
Note 9 - Stock Options (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding [Table Text Block] | Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (years) Outstanding EVTDS at December 31, 2020 - Options acquired in Merger 649,643 $ 5.80 4.61 Exercised (287,536 ) $ 2.40 Cancelled/Forfeited at $2.40 Exercise Price (3,357 ) $ 2.40 Cancelled/Forfeited at $9.00 Exercise Price (10,500 ) $ 9.00 Cancelled/Forfeited at $26.20 Exercise Price (9,750 ) $ 26.20 Subtotal, as follows: 338,500 Outstanding options at $2.40 Exercise Price 50,000 $ 2.40 Outstanding options at at $9.00 Exercise Price 281,750 $ 9.00 Outstanding options at $26.20 Exercise Price 6,750 $ 26.20 Outstanding at December 31, 2021 338,500 $ 8.40 6.98 Options Granted during 2022: Options Granted at $2.00 Exercise Price 250,000 $ 2.00 Options Granted at $2.40 Exercise Price 90,893 $ 2.40 Options Granted at $3.62 Exercise Price 2,762 $ 3.62 Options Granted at $9.00 Exercise Price 1,111 $ 9.00 Exercised (50,000 ) $ 2.40 Canceled/Forfeited (25,000 ) $ 9.00 Subtotal, as follows: 608,266 Outstanding Options at $2.00 Exercise Price 250,000 $ 2.00 9.05 Outstanding Options at $2.40 Exercise Price 90,893 $ 2.40 9.05 Outstanding Options at $3.62 Exercise Price 2,762 $ 3.62 4.09 Outstanding Options at $9.00 Exercise Price 257,861 $ 9.00 7.96 Outstanding Options at $26.20 Exercise Price 6,750 $ 9.00 5.30 Outstanding at December 31, 2022 608,266 $ 5.30 8.52 Exercisable at December 31, 2022 605,101 $ 5.30 8.54 |
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | 2022 Risk-free interest rate 1.76 % Expected volatility 146.3 % Expected option term (years) 9.7 Expected dividend yield 0 % |
Note 10 - Related Party Trans_2
Note 10 - Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Related Party Transactions [Table Text Block] | Year Ended December 31, 2022 2021 SRI Equipment Leases $ 93,247 $ 116,559 SRI Office Lease 26,390 14,000 Truck & trailer purchase from SRI — 81,293 Total SRI 119,637 211,852 Vehicles purchased from Phillip W. Oldridge — 161,250 ABCI Office leases 33,600 50,610 Total $ 153,237 $ 423,712 |
Note 11 - Commitments (Tables)
Note 11 - Commitments (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block] | Payments due by period Total Less than one year 1-3 years 4-5 years More than 5 years Operating lease obligations $ 46,173 $ 46,173 $ - $ - $ - Employment contracts 2,500,000 500,000 1,500,000 500,000 - Total $ 2,546,173 $ 546,173 $ 1,500,000 $ 500,000 $ - |
Note 13 - Leases (Tables)
Note 13 - Leases (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Year Ended December 31, 2022 2021 Lease expenses Operating lease expenses $ 61,380 $ 164,234 Short-term lease expenses $ 167,367 $ 88,312 Total lease cost $ 228,747 $ 252,546 Other information Cash paid for the amounts included in the measurement of lease liabilities for operating leases: Operating cash flows $ 45,767 $ 212,955 Weighted-average remaining lease term (in years): Operating leases 0.60 1.03 Weighted-average discount rate: Operating leases 14 % 14 % |
Note 1 - Organization and Ope_2
Note 1 - Organization and Operations (Details Textual) | Jun. 28, 2022 $ / shares | Dec. 31, 2022 $ / shares | Feb. 22, 2022 ft² | Dec. 31, 2021 $ / shares |
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares | $ 0.00001 | $ 0.00001 | $ 0.00001 | |
Reverse Stock Split [Member] | ||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 20 | |||
Facility in Osceola, Arkansas [Member] | ||||
Area of Real Estate Property (Square Foot) | ft² | 587,000 |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Details Textual) | 3 Months Ended | 12 Months Ended | ||||||
Jan. 31, 2022 shares | Jan. 07, 2022 shares | Aug. 04, 2021 shares | Dec. 31, 2022 USD ($) shares | Dec. 31, 2022 USD ($) shares | Dec. 31, 2021 USD ($) shares | Mar. 15, 2021 shares | Dec. 31, 2020 USD ($) shares | |
Revenue from Contract with Customer, Including Assessed Tax | $ 4,504,621 | $ 2,042,844 | ||||||
Restricted Cash, Current | $ 60,399 | 60,399 | 60,035 | |||||
Marketable Securities | 8,002,700 | 8,002,700 | ||||||
Accounts Receivable, before Allowance for Credit Loss, Current | 2,344,909 | 2,344,909 | 1,428,030 | |||||
Accounts Receivable, Allowance for Credit Loss, Current | 271,218 | 271,218 | 0 | |||||
Inventory, Finished Goods, Gross | 5,683,755 | 5,683,755 | 3,862,970 | |||||
Inventory Valuation Reserves | 12,429 | |||||||
Inventory, Net | 5,671,326 | 5,671,326 | 3,850,541 | |||||
Inventory Deposit, Outstanding From Operating Made in Previous Year | 2,731,294 | 2,731,294 | ||||||
Inventory Deposits | 4,829,933 | 4,829,933 | 4,503,079 | |||||
Deferred Tax Assets, Valuation Allowance | $ 8,110,618 | $ 8,110,618 | 6,857,926 | |||||
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount | $ 218,300 | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number (in shares) | shares | 608,266 | 608,266 | 338,500 | 0 | ||||
Class of Warrant or Right, Outstanding (in shares) | shares | 1,402,417 | 1,402,417 | 1,429,900 | 534,067 | ||||
Maximum Insured Funds, FDIC and SPIC | $ 750,000 | $ 750,000 | ||||||
Maximum Cash Insured | 500,000 | 500,000 | ||||||
Extra Insurance by SPIC, Cap, Unlimited Per Customer Securities | 1,000,000,000 | 1,000,000,000 | ||||||
Restricted Cash and Cash Equivalents | 60,399 | 60,399 | $ 60,000 | |||||
Impairment, Long-Lived Asset, Held-for-Use | $ 0 | 0 | ||||||
Number of Reporting Units | 1 | |||||||
Goodwill, Impairment Loss | 37,093,047 | $ 37,093,047 | 0 | |||||
Research and Development Expense | $ 149,912 | $ 58,139 | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period (in shares) | shares | 3,874 | 340,893 | 22,000 | 50,000 | 287,536 | |||
Share-Based Payment Arrangement, Expense | $ 1,614,845 | $ 3,414,440 | ||||||
Adomani Inc [Member] | ||||||||
Share-Based Payment Arrangement, Expense | 3,293,308 | |||||||
Share-Based Payment Arrangement, Option [Member] | ||||||||
Share-Based Payment Arrangement, Expense | $ 121,132 | |||||||
EVTDS [Member] | ||||||||
Deferred Tax Assets, Valuation Allowance | $ 0 | |||||||
Three Vehicles [Member] | ||||||||
Inventory Valuation Reserves | $ 12,429 | $ 12,429 | ||||||
Minimum [Member] | ||||||||
Property, Plant and Equipment, Useful Life (Year) | 3 years | 3 years | ||||||
Maximum [Member] | ||||||||
Property, Plant and Equipment, Useful Life (Year) | 5 years | 5 years | ||||||
Held-to-maturity Marketable Securities [Member] | Minimum [Member] | ||||||||
Investment, Maturity Period (Day) | 158 days | 143 days | ||||||
Investment, Remaining Maturity Period (Day) | 1 day | 13 days | ||||||
Held-to-maturity Marketable Securities [Member] | Maximum [Member] | ||||||||
Investment, Maturity Period (Day) | 200 days | 364 days | ||||||
Investment, Remaining Maturity Period (Day) | 90 years | 167 days | ||||||
Vehicle Maintenance, Detailing, and Safety Inspection [Member] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | $ 0 | $ 118,000 | ||||||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | ||||||||
Number of Major Customers | 3 | 4 | ||||||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Three Customers [Member] | ||||||||
Concentration Risk, Percentage | 43% | |||||||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Four Customers [Member] | ||||||||
Concentration Risk, Percentage | 63% | |||||||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | ||||||||
Number of Major Customers | 3 | 4 | ||||||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Three Customers [Member] | ||||||||
Concentration Risk, Percentage | 37% | |||||||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Four Customers [Member] | ||||||||
Concentration Risk, Percentage | 81% | |||||||
Supplier Concentration Risk [Member] | Deposits Outstanding [Member] | ||||||||
Number of Vendors | 3 | 2 | ||||||
Supplier Concentration Risk [Member] | Deposits Outstanding [Member] | Three Suppliers [Member] | ||||||||
Concentration Risk, Percentage | 70% | |||||||
Supplier Concentration Risk [Member] | Deposits Outstanding [Member] | Two Suppliers [Member] | ||||||||
Concentration Risk, Percentage | 96% | |||||||
Supplier Concentration Risk [Member] | Cost of Goods and Service Benchmark [Member] | ||||||||
Number of Vendors | 1 | |||||||
Supplier Concentration Risk [Member] | Cost of Goods and Service Benchmark [Member] | One Supplier [Member] | ||||||||
Concentration Risk, Percentage | 85% | |||||||
Fair Value, Recurring [Member] | ||||||||
Assets, Fair Value Disclosure | $ 0 | $ 0 | ||||||
Liabilities, Fair Value Disclosure | $ 0 | $ 0 |
Note 3 - Merger (Details Textua
Note 3 - Merger (Details Textual) - USD ($) | 2 Months Ended | 3 Months Ended | 12 Months Ended | |||||
Mar. 15, 2021 | Oct. 04, 2017 | Mar. 14, 2021 | Mar. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | Mar. 16, 2021 | Dec. 31, 2020 | |
Proceeds from Issuance of Common Stock | $ 120,000 | $ 21,107,410 | ||||||
Common Stock, Shares, Outstanding (in shares) | 15,021,088 | 14,912,189 | 12,765,236 | |||||
Assets | $ 33,483,689 | $ 75,307,808 | ||||||
Goodwill | $ 14,682,620 | 51,775,667 | ||||||
Adomani Inc [Member] | ||||||||
Common Stock, Value, Outstanding | $ 53,509,622 | |||||||
Common Stock, Shares, Outstanding (in shares) | 5,635,247 | |||||||
Share Price (in dollars per share) | $ 9.498 | |||||||
EVTDS [Member] | ||||||||
Restricted Cash | 0 | $ 1,793,910 | ||||||
Proceeds from Issuance of Common Stock | $ 6,415,110 | |||||||
Cash | $ 5,000,000 | |||||||
EVTDS [Member] | EVT Canada [Member] | ||||||||
Distribution Agreement, Term (Year) | 50 years | |||||||
Adomani Inc [Member] | ||||||||
Assets | $ 55,738,379 | |||||||
Adomani Inc [Member] | ||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | 7,129,887 | |||||||
Business Combination, Equity Interest Issued, Percentage of Outstanding Stock | 56% | |||||||
Business Combination, Stock Options Assumed | $ 2,228,757 | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 5,570,628 | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 1,607,916 | |||||||
Goodwill | 51,775,667 | |||||||
Business Combination, Acquisition Related Costs | 415,472 | |||||||
Business Acquisition, Pro Forma Revenue | 1,740,255 | |||||||
Business Acquisition, Pro Forma Net Income (Loss) | $ (10,296,024) | |||||||
Adomani Inc [Member] | Sale of Vehicles [Member] | ||||||||
Business Acquisition, Pro Forma Revenue | $ 319,000 | |||||||
Business Acquisition, Pro Forma Net Income (Loss) | (91,800) | |||||||
Adomani Inc [Member] | Fully Amortize Stock-based Compensation Expense [Member] | ||||||||
Business Acquisition, Pro Forma Net Income (Loss) | $ (1,826,623) | |||||||
Adomani Inc [Member] | Fair Value Adjustment [Member] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory | $ 26,400 |
Note 3 - Merger - Purchase Pric
Note 3 - Merger - Purchase Price of Assets Acquired and Liabilities Assumed (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 | Mar. 15, 2021 |
Goodwill | $ 14,682,620 | $ 51,775,667 | |
Adomani Inc [Member] | |||
Accounts receivable and other current assets | $ 1,680,926 | ||
Property and equipment | 86,873 | ||
Right of use asset | 369,987 | ||
Other assets | 59,510 | ||
Goodwill | 51,775,667 | ||
Accounts payable and accrued expenses | 820,389 | ||
Lease liability | 369,987 | ||
Notes payable | 417,540 | ||
Purchase price, net of $3,373,332 cash acquired | $ 52,365,047 |
Note 3 - Merger - Pro Forma Inf
Note 3 - Merger - Pro Forma Information (Details) - Adomani Inc [Member] | 12 Months Ended |
Dec. 31, 2021 USD ($) | |
Sales | $ 1,740,255 |
Net loss | $ (10,296,024) |
Note 3 - Merger - Goodwill (Det
Note 3 - Merger - Goodwill (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | |
Goodwill, December 31, 2021 | $ 51,775,667 | ||
Goodwill impairment charge | $ (37,093,047) | (37,093,047) | $ 0 |
Goodwill, December 31, 2022 | $ 14,682,620 | $ 14,682,620 | $ 51,775,667 |
Note 4 - Property and Equipme_3
Note 4 - Property and Equipment, Net (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Depreciation | $ 97,242 | $ 70,729 |
Note 4 - Property and Equipme_4
Note 4 - Property and Equipment, Net - Components of Property and Equipment, Net (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Total property and equipment | $ 613,618 | $ 424,685 |
Less accumulated depreciation | (245,157) | (152,572) |
Net property and equipment | 368,461 | 272,113 |
Furniture and Fixtures [Member] | ||
Total property and equipment | 56,646 | 41,799 |
Leasehold Improvements [Member] | ||
Total property and equipment | 122,711 | 28,112 |
Machinery and Equipment [Member] | ||
Total property and equipment | 165,753 | 86,266 |
Vehicles [Member] | ||
Total property and equipment | 252,724 | 252,724 |
Test/Demo Vehicles [Member] | ||
Total property and equipment | $ 15,784 | $ 15,784 |
Note 5 - Income Taxes (Details
Note 5 - Income Taxes (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Operating Loss Carryforwards | $ 37,312,984 | $ 31,347,786 | |
Operating Loss Carryforwards Not Subject to Expiration | 22,935,645 | ||
Operating Loss Carryforwards Subject to Expiration | 14,377,339 | ||
Income Tax Expense (Benefit) | $ 0 | $ 220,700 | $ (218,300) |
Note 5 - Income Taxes - Income
Note 5 - Income Taxes - Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Tax effected net operating loss | $ 1,169,392 | $ 866,991 |
Net operating loss carryover | 6,666,335 | 5,716,044 |
Research and development tax credit carryforward | 274,891 | 274,891 |
Sub-total | 8,110,618 | 6,857,926 |
Valuation allowance | (8,110,618) | (6,857,926) |
Net deferred tax asset | 0 | 0 |
Cumulative NOL | $ 37,312,984 | $ 31,347,786 |
Note 6 - Notes Payable (Details
Note 6 - Notes Payable (Details Textual) - USD ($) | Aug. 20, 2022 | Aug. 10, 2022 | Jun. 15, 2022 | Jun. 15, 2021 | May 02, 2018 | Dec. 31, 2022 | Dec. 31, 2021 |
Notes Payable, Current | $ 215,766 | $ 31,788 | |||||
Notes Payable, Noncurrent | 16,671 | 13,245 | |||||
Morgan Stanley [Member] | |||||||
Long-Term Line of Credit | 0 | ||||||
Line of Credit Facility, Maximum Borrowing Capacity, Percentage of Cash, Cash Equivalents, and Marketable Securities | 95% | ||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 10,400,000 | ||||||
Morgan Stanley [Member] | London Interbank Offered Rate (LIBOR) 1 [Member] | |||||||
Debt Instrument, Basis Spread on Variable Rate | 2% | ||||||
Equipment Financing Agreement [Member] | |||||||
Debt Instrument, Face Amount | $ 25,007 | ||||||
Debt Instrument, Term (Month) | 48 months | 24 months | |||||
Debt Instrument, Periodic Payment | $ 2,649 | ||||||
Line of Credit, Current | 13,245 | ||||||
Facility Grounds Equipment Loans [Member] | |||||||
Debt Instrument, Periodic Payment | $ 521 | ||||||
Notes Payable | 22,923 | ||||||
Notes Payable, Current | 6,252 | ||||||
Notes Payable, Noncurrent | $ 16,671 | ||||||
Premium Financing Agreement [Member] | First Insurance Funding [Member] | |||||||
Debt Instrument, Face Amount | $ 225,000 | $ 63,576 | |||||
Debt Instrument, Periodic Payment | 25,608 | ||||||
Notes Payable, Current | $ 76,087 | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.80% | ||||||
Centennial Bank Line of Credit [Member] | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.25% | ||||||
Debt Instrument, Covenant, Maximum Amount of Borrowing in Excess of Current Assets | $ 1,000,000 | ||||||
Long-Term Line of Credit | $ 0 | ||||||
Second Premium Financing Agreement [Member] | |||||||
Debt Instrument, Face Amount | $ 214,088 | ||||||
Debt Instrument, Term (Month) | 9 months | ||||||
Debt Instrument, Periodic Payment | $ 24,416 | ||||||
Notes Payable, Current | $ 120,182 | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.30% |
Note 7 - Common Stock (Details
Note 7 - Common Stock (Details Textual) - USD ($) | 12 Months Ended | |||||
May 07, 2021 | Mar. 15, 2021 | Dec. 29, 2020 | Dec. 31, 2022 | Dec. 31, 2021 | Mar. 16, 2021 | |
Common Stock, Shares, Outstanding (in shares) | 15,021,088 | 14,912,189 | 12,765,236 | |||
Proceeds from Issuance or Sale of Equity | $ 16,274,991 | |||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 958,334 | |||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 17 | |||||
Proceeds from Stock Options Exercised | $ 120,000 | $ 211,219 | ||||
the Warrants [Member] | ||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 958,334 | 431,250 | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 20 | $ 10 | ||||
Class of Warrant or Right, Number of Warrants Issued in Lieu of Payment of Fees in Cash (in shares) | 24,375 | |||||
the Warrants for Cash Fee Payment [Member] | ||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 54,167 | |||||
Purchase Agreement [Member] | ||||||
Proceeds from Issuance or Sale of Equity | $ 16,274,991 | $ 5,300,000 | ||||
Stock Issued During Period, Shares, New Issues (in shares) | 1,916,667 | 575,000 | ||||
Shares Issued, Price Per Share (in dollars per share) | $ 9 | $ 10 | ||||
Stock Issued During Period, Shares, in Lieu of Payment of Fees in Cash (in shares) | 108,333 | 32,500 | ||||
Expense Related to Distribution or Servicing and Underwriting Fees | $ 975,000 | $ 325,000 | ||||
Adomani Inc [Member] | ||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | 7,129,887 | |||||
Cash Acquired from Acquisition | $ 3,373,332 |
Note 8 - Stock Warrants (Detail
Note 8 - Stock Warrants (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | May 07, 2021 | Mar. 15, 2021 | |
Class of Warrant or Right, Outstanding (in shares) | 1,402,417 | 1,429,900 | 534,067 | |
Class Of Warrant Or Right, Exercisable (in shares) | 102,817 | |||
Class of Warrants or Rights, Expired During Period (in shares) | 27,483 | 62,500 | ||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 958,334 | |||
Class of Warrant or Right, Intrinsic Value | $ 0 | $ 0 |
Note 8 - Stock Warrants - Summa
Note 8 - Stock Warrants - Summary of Warrants (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Mar. 15, 2021 | |
Number of shares (in shares) | 1,402,417 | 1,429,900 | 534,067 |
Exercise price (in dollars per share) | $ 17 | ||
Remaining contractual life (Year) | 2 years 11 months 4 days | ||
Warrant One [Member] | |||
Number of shares (in shares) | 12,833 | ||
Exercise price (in dollars per share) | $ 75 | ||
Remaining contractual life (Year) | 7 days | ||
Warrant Two [Member] | |||
Number of shares (in shares) | 431,250 | ||
Exercise price (in dollars per share) | $ 10 | ||
Remaining contractual life (Year) | 2 years 29 days | ||
Warrant Three [Member] | |||
Number of shares (in shares) | 958,334 | ||
Exercise price (in dollars per share) | $ 20 | ||
Remaining contractual life (Year) | 3 years 4 months 6 days |
Note 9 - Stock Options (Details
Note 9 - Stock Options (Details Textual) - USD ($) | 12 Months Ended | |||||
Mar. 15, 2022 | Jan. 31, 2022 | Jan. 07, 2022 | Aug. 04, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |
Proceeds from Stock Options Exercised | $ 120,000 | $ 211,219 | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 4.71 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Intrinsic Value | $ 32,500 | |||||
Option at 2.00 [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 250,000 | |||||
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share) | $ 2 | |||||
Options at $2.40 [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 90,893 | |||||
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share) | $ 2.40 | |||||
Options at 3.62 [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 2,762 | |||||
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share) | $ 3.62 | |||||
Options at 9.00 [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 1,111 | |||||
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share) | $ 9 | |||||
Chief Executive Officer [Member] | Option at 2.00 [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 150,000 | |||||
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share) | $ 2 | $ 5.506 | ||||
Chief Executive Officer [Member] | Options at $2.40 [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 50,000 | |||||
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share) | $ 2.40 | |||||
Chief Executive Officer [Member] | Share-Based Payment Arrangement, Option [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year) | 10 years | |||||
Chief Executive Officer [Member] | Option at 5.506 [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 22,000 | |||||
Executive Vice President [Member] | Option at 2.00 [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 100,000 | |||||
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share) | $ 2 | |||||
Executive Vice President [Member] | Options at $2.40 [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 40,893 | |||||
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share) | $ 2.40 | |||||
Executive Vice President [Member] | Share-Based Payment Arrangement, Option [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year) | 10 years | |||||
Chief Financial Officer [Member] | Share-Based Payment Arrangement, Option [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year) | 10 years | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 5 years | |||||
Chief Financial Officer [Member] | Share-Based Payment Arrangement, Option [Member] | Vesting Monthly [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage | 1.67% | |||||
Chief Financial Officer [Member] | Options at 3.62 [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 2,762 | |||||
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share) | $ 3.62 | |||||
Chief Financial Officer [Member] | Options at 9.00 [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 1,111 | |||||
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share) | $ 9 | |||||
Former President and CEO [Member] | Options at $2.40 [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 50,000 | |||||
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share) | $ 2.40 | |||||
Proceeds from Stock Options Exercised | $ 120,000 | |||||
Former President and CEO [Member] | Options at 9.00 [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 25,000 | |||||
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share) | $ 9 |
Note 9 - Stock Options - Stock
Note 9 - Stock Options - Stock Options Outstanding (Details) - $ / shares | 12 Months Ended | ||||
Jan. 31, 2022 | Jan. 07, 2022 | Aug. 04, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |
Outstanding (in shares) | 338,500 | 0 | |||
Outstanding Options, weighted average exercise price (in dollars per share) | $ 8.40 | ||||
Options acquired in Merger (in shares) | 649,643 | ||||
Options acquired in Merger (in dollars per share) | $ 5.80 | ||||
Options acquired in Merger (Year) | 4 years 7 months 9 days | ||||
Exercised (in shares) | (3,874) | (340,893) | (22,000) | (50,000) | (287,536) |
Exercised, weighted average exercise price (in dollars per share) | $ 2.40 | $ 2.40 | |||
Canceled/Forfeited (in shares) | (25,000) | ||||
Cancelled / Forfeited, weighted average exercise price (in dollars per share) | $ 9 | ||||
Outstanding, weighted average remaining contractual term (Year) | 8 years 6 months 7 days | 6 years 11 months 23 days | |||
Outstanding (in shares) | 608,266 | 338,500 | |||
Outstanding Options, weighted average exercise price (in dollars per share) | $ 5.30 | $ 8.40 | |||
Exercisable (in shares) | 605,101 | ||||
Exercisable, weighted average exercise price (in dollars per share) | $ 5.30 | ||||
Exercisable, weighted average remaining contractual term (Year) | 8 years 6 months 14 days | ||||
Options at $2.40 [Member] | |||||
Outstanding (in shares) | 50,000 | ||||
Outstanding Options, weighted average exercise price (in dollars per share) | $ 2.40 | ||||
Canceled/Forfeited (in shares) | (3,357) | ||||
Cancelled / Forfeited, weighted average exercise price (in dollars per share) | $ 2.40 | ||||
Outstanding, weighted average remaining contractual term (Year) | 9 years 18 days | ||||
Options Granted (in shares) | 90,893 | ||||
Options Granted, weighted average exercise price (in dollars per share) | $ 2.40 | ||||
Outstanding (in shares) | 90,893 | 50,000 | |||
Outstanding Options, weighted average exercise price (in dollars per share) | $ 2.40 | $ 2.40 | |||
Options at 9.00 [Member] | |||||
Outstanding (in shares) | 281,750 | ||||
Outstanding Options, weighted average exercise price (in dollars per share) | $ 9 | ||||
Canceled/Forfeited (in shares) | (10,500) | ||||
Cancelled / Forfeited, weighted average exercise price (in dollars per share) | $ 9 | ||||
Outstanding, weighted average remaining contractual term (Year) | 7 years 11 months 15 days | ||||
Options Granted (in shares) | 1,111 | ||||
Options Granted, weighted average exercise price (in dollars per share) | $ 9 | ||||
Outstanding (in shares) | 257,861 | 281,750 | |||
Outstanding Options, weighted average exercise price (in dollars per share) | $ 9 | $ 9 | |||
Options at 26.20 [Member] | |||||
Outstanding (in shares) | 6,750 | ||||
Outstanding Options, weighted average exercise price (in dollars per share) | $ 26.20 | ||||
Canceled/Forfeited (in shares) | (9,750) | ||||
Cancelled / Forfeited, weighted average exercise price (in dollars per share) | $ 26.20 | ||||
Outstanding, weighted average remaining contractual term (Year) | 5 years 3 months 18 days | ||||
Outstanding (in shares) | 6,750 | 6,750 | |||
Outstanding Options, weighted average exercise price (in dollars per share) | $ 9 | $ 26.20 | |||
Option at 2.00 [Member] | |||||
Outstanding, weighted average remaining contractual term (Year) | 9 years 18 days | ||||
Options Granted (in shares) | 250,000 | ||||
Options Granted, weighted average exercise price (in dollars per share) | $ 2 | ||||
Outstanding (in shares) | 250,000 | ||||
Outstanding Options, weighted average exercise price (in dollars per share) | $ 2 | ||||
Options at 3.62 [Member] | |||||
Outstanding, weighted average remaining contractual term (Year) | 4 years 1 month 2 days | ||||
Options Granted (in shares) | 2,762 | ||||
Options Granted, weighted average exercise price (in dollars per share) | $ 3.62 | ||||
Outstanding (in shares) | 2,762 | ||||
Outstanding Options, weighted average exercise price (in dollars per share) | $ 3.62 |
Note 9 - Stock Options - Weight
Note 9 - Stock Options - Weighted Average Assumptions Used in the Valuation of the Options (Details) - Share-Based Payment Arrangement, Option [Member] | 12 Months Ended |
Dec. 31, 2022 | |
Risk-free interest rate | 1.76% |
Expected volatility | 146.30% |
Expected option term (years) (Year) | 9 years 8 months 12 days |
Expected dividend yield | 0% |
Note 10 - Related Party Trans_3
Note 10 - Related Party Transactions (Details Textual) | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||
Mar. 31, 2021 USD ($) | Mar. 31, 2021 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2023 USD ($) | Apr. 01, 2020 USD ($) | Jan. 01, 2020 USD ($) | Dec. 01, 2019 USD ($) | |
Related Party Transaction, Amounts of Transaction | $ 153,237 | $ 423,712 | ||||||
Leases Trailers [Member] | ||||||||
Related Party Transaction, Amounts of Transaction | 81,293 | |||||||
A B C I Office Lease [Member] | ||||||||
Operating Lease Monthly Payment | $ 5,000 | |||||||
SRI Professional Services, Incorporated [Member] | ||||||||
Related Party Transaction, Amounts of Transaction | 119,637 | 211,852 | ||||||
Chief Executive Officer [Member] | Two Vehicles [Member] | ||||||||
Number Of Properties Purchased Subject To Commercial Lease Agreement | 2 | 2 | ||||||
Related Party Transaction, Purchases from Related Party | $ 128,000 | |||||||
Chief Executive Officer [Member] | Vehicles [Member] | Maximum [Member] | ||||||||
Related Party Transaction, Purchases from Related Party | $ 64,000 | |||||||
EVTDS [Member] | Vehicles [Member] | Maximum [Member] | ||||||||
Related Party Transaction, Purchases from Related Party | $ 83,000 | |||||||
S R I Equipment Leases [Member] | SRI Professional Services, Incorporated [Member] | ||||||||
Operating Lease Monthly Payment | $ 7,771 | |||||||
Related Party Transaction, Amounts of Transaction | 93,247 | 116,559 | ||||||
S R I Equipment Leases [Member] | SRI Professional Services, Incorporated [Member] | Two Vehicles [Member] | ||||||||
Operating Lease Monthly Payment | $ 3,880 | |||||||
S R I Equipment Leases [Member] | SRI Professional Services, Incorporated [Member] | Trailer [Member] | ||||||||
Operating Lease Monthly Payment | $ 3,891 | |||||||
S R I Office Lease [Member] | SRI Professional Services, Incorporated [Member] | ||||||||
Operating Lease Monthly Payment | $ 2,730 | |||||||
Related Party Transaction, Amounts of Transaction | 26,390 | 14,000 | ||||||
A B C I Office Lease [Member] | Alpha Bravo Charlie, Inc. (“ABCI”) [Member] | ||||||||
Operating Lease Monthly Payment | $ 2,800 | |||||||
Related Party Transaction, Amounts of Transaction | $ 33,600 | $ 50,610 | ||||||
Alpha Bravo Charlie, Inc. (“ABCI”) [Member] | Automobiles [Member] | ||||||||
Number Of Properties Purchased Subject To Commercial Lease Agreement | 2 | |||||||
Related Party Transaction, Purchases from Related Party | $ 33,250 |
Note 10 - Related Party Trans_4
Note 10 - Related Party Transactions - Summary of Related Party Transactions (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Amounts of Transaction | $ 153,237 | $ 423,712 |
SRI Professional Services, Incorporated [Member] | ||
Amounts of Transaction | 119,637 | 211,852 |
S R I Equipment Leases [Member] | SRI Professional Services, Incorporated [Member] | ||
Amounts of Transaction | 93,247 | 116,559 |
S R I Office Lease [Member] | SRI Professional Services, Incorporated [Member] | ||
Amounts of Transaction | 26,390 | 14,000 |
Truck & Trailer Purchases [Member] | SRI Professional Services, Incorporated [Member] | ||
Amounts of Transaction | 0 | 81,293 |
Vehicles Purchases [Member] | Phillip W. Oldridge [Member] | ||
Amounts of Transaction | 0 | 161,250 |
A B C I Office Lease [Member] | Alpha Bravo Charlie, Inc. (“ABCI”) [Member] | ||
Amounts of Transaction | $ 33,600 | $ 50,610 |
Note 11 - Commitments (Details
Note 11 - Commitments (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 21, 2021 | |
Chief Executive Officer [Member] | ||
Salary and Wage, Officer, Excluding Cost of Good and Service Sold | $ 300,000 | |
Automobile Monthly Allowance | $ 1,500 | |
Executive Vice President [Member] | ||
Salary and Wage, Officer, Excluding Cost of Good and Service Sold | $ 200,000 |
Note 11 - Commitments - Future
Note 11 - Commitments - Future Minimum Payments (Details) | Dec. 31, 2022 USD ($) |
Lessee, Operating Lease, Liability, to be Paid | $ 46,173 |
Operating lease obligations, less than one year | 46,173 |
Operating lease obligations, year 1-3 | 0 |
Operating lease obligations, year 4-5 | 0 |
Employment contracts | 2,500,000 |
Employment contracts, less than one year | 500,000 |
Employment contracts, year 1-3 | 1,500,000 |
Employment contracts, year 4-5 | 0 |
Total | 2,546,173 |
Total, less than one year | 546,173 |
Total, year 1-3 | 1,500,000 |
Total, year 4-5 | $ 0 |
Note 12 - Contingencies (Detail
Note 12 - Contingencies (Details Textual) - USD ($) | Aug. 10, 2021 | Jun. 19, 2019 | Feb. 03, 2020 |
Repossessed Assets | $ 582,000 | ||
Alan K. Brooks v. ADOMANI, Inc [Member] | |||
Number of Shares Refused To Release (in shares) | 1,320,359 | ||
Loss Contingency, Damages Sought, Value | $ 13,500,000 | ||
Payments for Legal Settlements | $ 197,500 | ||
Stock Issued During the Period, Value, Settlement of Litigation Claims | 197,500 | ||
Cash Paid by Insurance Company | $ 170,000 |
Note 13 - Leases (Details Textu
Note 13 - Leases (Details Textual) | 12 Months Ended | |||||||||||
Jul. 02, 2021 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2023 USD ($) | Feb. 15, 2022 | Sep. 01, 2021 | Apr. 01, 2021 | Feb. 04, 2020 USD ($) | Dec. 31, 2019 USD ($) | Oct. 31, 2018 USD ($) | Oct. 31, 2017 USD ($) | Feb. 28, 2017 USD ($) | |
Lessee, Operating Lease, Liability, to be Paid | $ 46,173 | |||||||||||
Lessee, Operating Lease, Number of Leases | 8 | |||||||||||
Operating Lease, Payments | $ 45,767 | $ 212,955 | ||||||||||
Operating Lease, Right-of-Use Asset | 0 | |||||||||||
Operating Lease, Liability | $ 0 | |||||||||||
Other Noncurrent Assets [Member] | ||||||||||||
Operating Lease, Right-of-Use Asset | 133,672 | |||||||||||
Accrued Liabilities [Member] | ||||||||||||
Operating Lease, Liability, Current | 131,245 | |||||||||||
Other Noncurrent Liabilities [Member] | ||||||||||||
Operating Lease, Liability, Noncurrent | 2,427 | |||||||||||
Corporate Office Space in Corona, California [Member] | ||||||||||||
Lessee, Operating Lease, Term of Contract (Month) | 65 months | |||||||||||
Lessee, Operating Lease, Liability, to be Paid | $ 568,912 | |||||||||||
Operating Lease Monthly Payment | $ 10,560 | $ 7,600 | ||||||||||
Lessee, Operating Lease, Number of Leases | 2 | 2 | 4 | |||||||||
Operating Lease, Payments | $ 60,630 | |||||||||||
Security Deposit | $ 11,616 | |||||||||||
Office and Warehouse Leases [Member] | ||||||||||||
Lessee, Operating Lease, Number of Leases | 5 | |||||||||||
Equipment Leases [Member] | ||||||||||||
Lessee, Operating Lease, Number of Leases | 3 | |||||||||||
S R I Equipment Leases [Member] | ||||||||||||
Operating Lease, Expense | $ 93,247 | 93,247 | ||||||||||
S R I Office Lease [Member] | ||||||||||||
Operating Lease, Expense | 26,390 | 24,711 | ||||||||||
A B C I Office Lease [Member] | ||||||||||||
Operating Lease Monthly Payment | $ 5,000 | |||||||||||
Operating Lease, Expense | 33,600 | $ 30,800 | ||||||||||
Toledo Jet Center [Member] | ||||||||||||
Lessee, Operating Lease, Term of Contract (Month) | 1 year | |||||||||||
Operating Lease, Expense | 16,853 | |||||||||||
Lessee, Operating Lease, Renewal Term (Year) | 1 year | |||||||||||
Storage Space In Stockton California1 [Member] | ||||||||||||
Operating Lease Monthly Payment | $ 1,000 | |||||||||||
Warehouse Space In Corona California [Member] | ||||||||||||
Lessee, Operating Lease, Liability, to be Paid | $ 495,720 | |||||||||||
Operating Lease Monthly Payment | 13,906 | 13,108 | ||||||||||
Warehouse Space In Corona California [Member] | Masters Transportation Inc1 [Member] | ||||||||||||
Operating Lease Monthly Payment | $ 6,365 | $ 6,000 | ||||||||||
Warehouse Space In Corona California [Member] | Fire Sprinkler Alarm Monitoring And Landscape Maintenance [Member] | ||||||||||||
Operating Lease Monthly Payment | $ 265 |
Note 13 - Leases - Schedule of
Note 13 - Leases - Schedule of Information Regarding Leases (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Lease expenses | ||
Operating lease expenses | $ 61,380 | $ 164,234 |
Short-term lease expenses | 167,367 | 88,312 |
Total lease cost | 228,747 | 252,546 |
Operating cash flows | $ 45,767 | $ 212,955 |
Operating leases (Year) | 7 months 6 days | 1 year 10 days |
Operating leases | 14% | 14% |
Note 14 - Subsequent Events (De
Note 14 - Subsequent Events (Details Textual) - Subsequent Event [Member] - Sublease of Warehouse Building in Clark Freeport Zone in Philippines [Member] | 1 Months Ended |
Mar. 31, 2023 USD ($) yd² | |
Area of Real Estate Property (Square Foot) | yd² | 3,600 |
Lessor, Operating Lease, Term of Contract (Year) | 2 years 2 months |
Lessor, Operating Lease, Grace Period (Month) | 2 months |
Lessor, Operating Lease, Monthly Rent, First Year | $ 15,000 |
Lessor, Operating Lease, Monthly Rent, Year Two | 15,750 |
Lessor, Operating Lease, Monthly Rent, Remaining Term | $ 16,530 |