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Rideshare Rental, Inc. (YAYO)

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Previous Close0.7800
Open0.7800
Bid0.0000 x 800
Ask0.0000 x 1200
Day's Range0.5021 - 0.7800
52 Week Range0.0690 - 2.1500
Volume268,739
Avg. Volume57,504
Market Cap22.387M
Beta (5Y Monthly)N/A
PE Ratio (TTM)N/A
EPS (TTM)N/A
Earnings DateNov 16, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
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  • RideShare Rental, Inc., formerly YayYo, Inc Announces the launch of its Electric Vehicle strategy
    GlobeNewswire

    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

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

    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

  • Rideshare Rental, Inc. Announces Results for Q3 2020
    GlobeNewswire

    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