What changed in this filing

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Item 2. Management’s Discussion and Analysis

2026-05-22 compared with 2026-02-25 · 93 added, 53 removed, 248 unchanged (37% of the section changed)

39 unchanged sentences

For the three months

ended December 31, 2025, compared to the three months ended December 31, 2024

ended March 31, 2026, compared to the three months ended March 31, 2025

Our operating results for

the three months ended December 31, 2025 and 2024 are summarized as follows:

the three months ended March 31, 2026 and 2025 are summarized as follows:

Three months ended

5 unchanged sentences

Net income (loss) before income taxes

$ (1,069,422 )

Income tax expense

Net income (loss)

$ (1,517,380 )

$ (1,069,422 )

Revenues for the three months

ended December 31, 2025, increased $40,296 from $241,946 for the period ending December 31, 2024, to $282,242 for the period ending December

ended March 31, 2026, increased $166,857 from $210,665 for the period ending March 31, 2025, to $377,522 for the period ending March 31,

This was due to a $166,857 increase in rental revenue and insurance revenue as a result of more vehicles available to rent.

2 unchanged sentences

availability for vehicles on our platform, leading to a further increase in revenues.

Cost of revenue for the three months ended December

31, 2025, increased $55,093, from $143,255 for the period ending December 31, 2024, to $198,348 for the period ending December 31, 2025.

Cost of revenue for the three months ended March

31, 2026, increased $141,636, from $181,089 for the period ending March 31, 2025, to $322,725 for the period ending March 31, 2026.

Operating expenses for the

three months ended December 31, 2025, decreased $132 as compared to the three months ended December 31, 2024.

three months ended March 31, 2026, decreased $71,390 as compared to the three months ended March 31, 2025.

The decrease was primarily

attributable to decreases in salaries and payroll taxes of $10,996, general and administrative of $26,006, software development of $15,615,

and, offset by increases in stock compensation expense of $40,625 and professional fees of $11,860.

attributable to decreases in general and administrative of $96,728, professional fees of $45,616, and offset by increases in salaries

and payroll taxes of $38,128, and stock compensation of $35,625.

Loss from operations was

$140,277 for the three months ended December 31, 2025, as compared to $125,612 for the three months ended December 31, 2024.

of $14,665 was due to lower gross profit.

Other income for the three

months ended December 31, 2025, was $689,145, as compared to net other expense of $582,075 for the three months ended December 31, 2024.

The change of $92,405 is primarily attributable to the change in fair value of derivative liabilities of $67,792.

$142,053 for the three months ended March 31, 2026, as compared to $(238,664) for the three months ended March 31, 2025.

of $96,611 was due to lower operating expenses.

Other expense for the three months ended March 31, 2026, was $(1,375,327),

as compared to net other expense of $(209,294)1 for the three months ended March 31, 2025.

The change of $(1,166,033) is primarily attributable

to the reduced amortization of debt discount as the maturity dates of notes payable is reached.

For the six months

ended March 31, 2026, compared to the six months ended March 31, 2025

Our operating results for

the six months ended March 31, 2026 and 2025 are summarized as follows:

Six months ended

Cost of revenue

Gross Profit Percentage

Operating expense

Operating loss

Other (income) / expense

Net income (loss) before income taxes

Income tax expense

Net income (loss)

Revenues for the six months

ended March 31, 2026, increased $207,153 from $452,611 for the period ending March 31, 2025, to $659,764for the period ending March 31,

This was due to a $207,153 increase in rental revenue and insurance revenue as a result of more vehicles available to rent.

We anticipate that, in 2026

automotive supply and demand will see a continuing return to more historically normal levels which should translate into greater vehicle

availability for vehicles on our platform, leading to a further increase in revenues.

Cost of revenue for the six months ended March 31, 2026, increased $196,729,

from $324,344 for the period ending March 31, 2025, to $521,073 for the period ending March 31, 2026.

Operating expenses for the

six months ended March 31, 2026, decreased $68,874 as compared to the six months ended March 31, 2025.

The increase was primarily attributable

to decreases in general and administrative of $120,084, and software development of $18,415, offset by increases in stock compensation

of $76,250 and salaries and payroll taxes of $27,131.

Loss from operations was

$284,978 for the six months ended March 31, 2026, as compared to $364,276 for the six months ended March 31, 2025.

The increase of $79,298

was due to higher operating expenses.

Other expense for the six months ended March 31, 2026, was $686,281, as compared

to net other income of $372,781 for the six months ended March 31, 2025.

The change of $1,059,062 is primarily attributable to the change

in fair value of derivative liabilities of $818,296 and an increase in discount amortization of $323,771.

Liquidity and Capital Resources:

The following table provides selected financial data about our Company

as of December 31, 2025, and September 30, 2025.

as of March 31, 2026, and September 30, 2025.

Working Capital

5 unchanged sentences

$ (8,948,183 )

As of December 31, 2025, our working capital deficiency decreased $1,018,169

as compared to September 30, 2025.

This was primarily attributable to a $1,007,204 decrease in current liabilities.

As of March 31, 2026, our working capital deficiency decreased $63,479 as

compared to September 30, 2025.

This was primarily attributable to a $44,651 increase in current assets offset by the increase in current

liabilities of $151,206.

Cash Flow Data:

Three months ended

Cash provided by (used in) operating activities

Cash provided by (used in) investing activities

Cash provided by (used in) financing activities

Net Change in Cash and Restricted Cash

Six months ended

provided by (used in) operating activities

provided by (used in) investing activities

provided by (used in) financing activities

Change in Cash and Restricted Cash

Cash Flows from Operating

During the three months ended December 31, 2025, we did not generate positive

cash flows from operating activities.

For the three months ended December 31, 2025, net cash flows used in operating activities was $176,881,

consisting of a net income of $548,868, a gain on change in fair value of derivative liability of $981,354, loss on sale of fixed assets

of $19,447, and increased by amortization debt discount of $109,782, stock compensation expense of $40,625, amortization of deferred financing

costs of $11,811, depreciation and amortization of $28,102, and an increase in operating assets and liabilities of $45,905.

During the three months ended

December 31, 2024, we did not generate positive cash flows from operating activities.

For the three months ended December 31, 2024, net

cash flows used in operating activities was $55,686, consisting of a net income of $456,463, a gain on change in fair value of derivative

liability of $913,562, and increased by amortization debt discount of $59,378, amortization of deferred financing costs of $137,580, depreciation

and amortization of $37,554, and a change in operating assets and liabilities of $166,901.

During the six months ended March 31, 2026, we did not generate positive cash

flows from operating activities.

For the six months ended March 31, 2026, net cash flows used in operating activities was $(479,987) consisting

of a net loss of $971,259 a gain on change in fair value of derivative liability of $93,686, and increased by amortization debt discount

of $402,251, amortization of deferred financing costs of $11,811, depreciation and amortization of $41,344, and a change in operating

assets and liabilities of $42,316.

During the six months ended March 31, 2025, we did not generate positive cash

flows from operating activities.

For the six months ended March 31, 2025, net cash flows used in operating activities was $161,862, consisting

of a net income of $8,505, reduced by a loss on change in fair value of derivative liability of $911,982, amortization debt discount of

$78,480, depreciation and amortization of $74,292, amortization of deferred financing costs of $171,468, and a change in operating assets

and liabilities of $417,375.

Cash Flows from Investing

During the three months ended December 31, 2025, the Company generated $99,680

in cash from investing activities from the sale of vehicles from its rental fleet.

During the three months ended

December 31, 2024, the Company used $137,289 cash from investing activities to purchase vehicles for its rental fleet.

During the six months ended

March 31, 2026, the Company received $347,500 cash from proceeds from sale of fixed assets from investing activities..

During the six months ended

March 31, 2025, the Company used $137,289 cash from investing activities to purchase vehicles for its rental fleet.

Cash Flows from Financing

During the three months ended December 31, 2025, the Company generated $126,944

from financing activities including proceeds from the sale of warrants of $240,000, proceeds from convertible notes payable of $24,000,

which was partially offset by $137,056 for repayment of promissory notes.

During the three months ended

December 31, 2024, the Company generated $228,745 from financing activities including proceeds of $450 from related party advances, $180,117

from the issuance of promissory notes, $57,458 from the issuance of convertible promissory notes, proceeds from the sale of warrants of

$50,000, and proceeds from the sale of common stock of $5,000 which was partially offset by $64,280 for repayment of promissory notes.

During the six months ended March 31, 2026, the Company generated $175,563 from

financing activities including proceeds of $290,000 from the sale of warrants, and $914,658 from the issuance of convertible promissory

notes, which was offset by $548,808 for repayment of promissory notes, proceeds from Notes Payable of $230,213 and $710,500 for repayment

of convertible notes payable.

During the six months ended

March 31, 2025, the Company generated $316,733 from financing activities including proceeds of $1,300 from related party advances, $268,812

from the issuance of promissory notes, $103,708 from the issuance of convertible promissory notes, proceeds from the sale of warrants

of $50,000, and proceeds from the sale of common stock of $5,000 which was partially offset by $112,087 for repayment of promissory notes.

Going Concern

As of December 31, 2025, the Company had a net income of $548,868, accumulated

As of March 31, 2026, the Company had a net loss of $971,259, accumulated

deficit of $11,432,878 and did not have sufficient cash on hand to cover expenses for the next twelve (12) months.

33 unchanged sentences

would procure financing if the Company determined they wanted to sell the vehicle at the listed purchase price.

During the periods ended December 31, 2025 and 2024,

the Company derived its revenue from signed contracts for vehicle rentals between the Company, other leasing companies, or car dealerships

and individual car rental customers (“customers”).

During the periods ended March 31, 2026 and 2025, the Company derived its revenue

from signed contracts for vehicle rentals between the Company, other leasing companies, or car dealerships and individual car rental customers

(“customers”).

Customers book a vehicle through the Company’s

54 unchanged sentences

date and relate to usages after that date.

As of December 31, 2025 and September 30, 2025 refundable deposits were $0 and deferred revenue

was $15,912 and $15,740, respectively.

As of March 31, 2026 and September 30, 2025 refundable deposits were $0 and $0 and deferred

revenue was $26,261 and $15,740, respectively.

In addition to the costs associated with rental revenue

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Derivative liabilities are valued at Level 3.

Fair Value Measurements as of December 31, 2025 using:

December 31, 2025

Fair Value Measurements as of March 31, 2026 using:

March 31, 2026

Quoted Prices in Active Markets for Identical Assets (Level 1)

32 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 2. Management’s Discussion and Analysis