YAYO - EVmo to receive $30M in dilutive financing to add 400 vehicles per quarter

EVmo (OTC:YAYO) is developing partners to deliver up to $30M in vehicle financing to add ~400 vehicles quarterly to the company's fleet. The company is currently having 600 cars on its platform and is expected to have in excess of 2K cars with next year. We expect to be operationally profitable at ~950 cars, and cash flow positive at ~1.6K cars, which remains in-line with internal forecast and business plan. The company plans to double the quarterly purchases in 2023. As per Global Market Insights, the ridesharing market in North America was $4.5B in 2019 and expected to grow at a CAGR of 6.5% through 2026.

For further details see:

EVmo to receive $30M in dilutive financing to add 400 vehicles per quarter