YAYYO INC - YAYO STOCK NEWS

EVmo, Inc. (OTC: YAYO) announced agreements with major automobile manufacturers to supply approximately 400 new vehicles quarterly, enhancing its fleet for the rideshare and delivery gig economy. This initiative aligns with their expansion strategy into new markets, supported by recently secured non-dilutive financing. The company aims to grow its fleet from 600 to over 2,000 vehicles within 12 months, with operational profitability expected at 950 cars. This growth is timely, as gig economy drivers face rising fuel costs, presenting EVmo’s electric vehicle fleet as a viable solution.

EVmo, Inc. (OTC: YAYO) is advancing its fleet expansion by securing up to $30 million in vehicle financing, enabling the addition of approximately 400 vehicles quarterly. Currently operating 600 cars, EVmo aims to exceed 2,000 by next year. Operational profitability is projected at around 950 vehicles, with cash flow positivity at 1,600. The company also reported $13.7 million in gross proceeds from its January 2022 offering. The ridesharing market in North America was valued at $4.5 billion in 2019, expected to grow at a CAGR of 6.5% through 2026.

EVmo, Inc. (OTC: YAYO) will feature an interview with CEO Stephen Sanchez on The RedChip Money Report on Bloomberg TV on Jan. 22 at 7 p.m. ET. The report highlights the company's role as a leading provider of vehicles for the rideshare and delivery gig economy. EVmo bridges gaps for drivers needing vehicles and companies seeking to attract and retain them, offering an online booking platform and fleet management services. The segment reaches approximately 73 million U.S. homes, enhancing visibility for the company as it caters to both high and low economic drivers.

EVmo, Inc. (OTC: YAYO) has completed its underwritten public offering, selling 27.4 million shares of common stock at $0.50 per share, raising approximately $13.7 million before expenses. The underwriters also have a 45-day option to purchase an additional 4.11 million shares for overallotments. EF Hutton served as the sole book-runner for the offering. The company provides vehicles for the rideshare and delivery gig economy, bridging the gap for drivers in need of suitable vehicles.

EVmo, Inc. (OTC: YAYO) announced the pricing of its public offering of 27,400,000 shares of common stock at $0.50 per share, aiming for gross proceeds of approximately $13.7 million. The offering includes a 45-day option for underwriters to purchase an additional 4,110,000 shares. The closing is anticipated on January 6, 2022, subject to customary conditions. EF Hutton is managing the offering. A registration statement was declared effective by the SEC on December 23, 2021. Further details will be available via the SEC's website and through EF Hutton.

EVmo, Inc. (OTC: YAYO) announced a partnership with the University of Southern California (USC) to provide on-campus access to its rental vehicle fleet starting January 2022. The program aims to promote sustainability and create job opportunities for students while enhancing USC's Lyft Rides Program. EVmo plans to expand its services to other universities, leveraging its technology platform for seamless vehicle rental processes. This initiative aligns with California's ambitious clean energy goals, targeting five million EVs by 2030.

EVmo, Inc. (OTC: YAYO) reported third quarter 2021 revenue of $2.72 million, a 31.6% increase from $2.07 million in Q3 2020. Nine-month revenue reached $7.67 million, reflecting a 42% growth year-over-year. The company entered a $15 million debt facility and noted a 15% rise in active rentals per day. However, net loss surged to $4.8 million from $391,484 in Q3 2020, mainly due to higher professional service costs. EVs and hybrids now make up 23% of the fleet. A conference call discussing these results is scheduled for November 17, 2021.

EVmo, Inc. (OTC: YAYO) is set to report its Q3 2021 financial results before the market opens on November 16, 2021. A conference call and webcast will be held on November 17, 2021, at 4:30 p.m. ET to discuss the operational and financial highlights from the quarter ending September 30, 2021. EVmo is a key player in the rideshare and delivery gig economy, providing vehicles and fleet management services while transitioning to an all-electric vehicle fleet aligned with major ride-hailing platforms.

EVmo (OTC: YAYO) announced a new delivery application that connects renters with exclusive gig opportunities in food, grocery, and e-commerce. This intuitive platform enhances earnings for drivers by simplifying order management and optimizing delivery routes. With over 1,000 active rentals, EVmo aims to bridge the rideshare and last-mile delivery sectors, supporting the growing gig economy projected to reach $455 billion in 2023. The company is transitioning to an all-electric vehicle fleet in partnership with leading OEMs, highlighting its commitment to innovation and sustainability.