What changed in this filing

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Item 1. Financial Statements

2022-08-12 compared with 2022-05-13 · 193 added, 159 removed, 403 unchanged (47% of the section changed)

2 unchanged sentences

Consolidated Balance Sheets

March 31, 2022

June 30, 2022

December 31, 2021

2 unchanged sentences

Investment in debt securities

Accounts receivable, net of allowance for doubtful accounts of $ 3,121

and $ 5,665 ,

Accounts receivable, net of allowance for doubtful accounts of $ 14,010 and $ 5,665 , respectively

Prepaid expenses and other

14 unchanged sentences

Total Liabilities

Commitments and Contingencies (Note 10)

Commitments and Contingencies

Stockholders’ Equity

4 unchanged sentences

500,000,000 shares authorized;

26,312,131 and 26,243,474 shares issued and outstanding at March 31, 2022 and December 31, 2021, respectively

26,479,795 and 26,243,474 shares issued and outstanding at June 30, 2022 and December 31, 2021, respectively

Additional paid in capital

9 unchanged sentences

Three Months Ended

Six Months Ended

TOTAL REVENUES

7 unchanged sentences

( 1,884,735 )

( 7,136,260 )

( 3,121,879 )

OTHER INCOME AND EXPENSES

4 unchanged sentences

( 2,006,602 )

( 7,139,180 )

( 3,356,090 )

PROVISION FOR INCOME TAXES

1 unchanged sentence

$ ( 2,006,602 )

$ ( 7,139,180 )

$ ( 3,356,090 )

NET LOSS PER SHARE

4 unchanged sentences

$ ( 2,006,602 )

$ ( 7,139,180 )

$ ( 3,356,090 )

Other comprehensive loss:

3 unchanged sentences

$ ( 2,006,602 )

$ ( 7,203,674 )

$ ( 3,356,090 )

accompanying notes are an integral part of the consolidated financial statements.

7 unchanged sentences

$ ( 17,339,396 )

Stock based compensation

Consideration for acquisition

Other comprehensive loss

( 3,266,510 )

Balance March 31, 2022

$ ( 20,605,906 )

Stock based compensation

Other comprehensive loss

( 3,872,670 )

Balance June 30, 2022

$ ( 24,785,576 )

Preferred stock

Additional Paid-in

Accumulated Other Comprehensive

Total Stockholder’s Equity

Balance December 31, 2020

$ ( 7,956,000 )

$( 1,481,744 )

Stock based compensation

Options granted

6 unchanged sentences

$( 1,783,770 )

Balance December 31, 2021

$ ( 17,339,396 )

Stock based compensation

Consideration for acquisition

Other comprehensive loss

Options granted

Sale of shares

Issuance of shares for technology

Issuance of bonus shares

( 2,006,602 )

Balance March 31, 2022

Balance June 30, 2021

$ ( 11,312,090 )

2 unchanged sentences

Consolidated Statements of Cash Flows

Six Months Ended

Cash flows from operating activities:

4 unchanged sentences

Depreciation and amortization

Amortization of bond premium

Amortization of bond premium and realized loss on investments

Amortization of debt discount

Bad debt expense

7 unchanged sentences

( 6,028,287 )

( 2,149,473 )

Cash flows from investing activities:

Maturity of debt securities

Acquisition of business

5 unchanged sentences

Borrowings under line of credit

Proceeds from issuance of debt

Proceeds from issuance of debt and loans

Proceeds from issuance of related party debt

Proceeds from issuance of common stock

Repayment of debt

8 unchanged sentences

Issuance of acquisition, bonus and settlement shares

Shares issued for technology

Supplemental disclosure of cash flow information:

4 unchanged sentences

to Consolidated Financial Statements

the three months ended March 31, 2022 and 2021

the six months ended June 30, 2022 and 2021

Nature of Organization and Summary of Significant Accounting Policies

15 unchanged sentences

financial statements for the interim period reported, have been included.

The results for the three months ended March 31, 2022, are

not necessarily indicative of results to be expected for the year ending December 31, 2021, or for any other interim period or for any

The results for the six months ended June 30, 2022, are not

necessarily indicative of results to be expected for the year ending December 31, 2022, or for any other interim period or for any future

preparation of financial statements in accordance with generally accepted accounting principles requires management to make estimates

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Company considers all highly liquid securities with original maturities of three months or less when acquired, to be cash equivalents.

At March 31, 2022 and December 31, 2021, the Company had $ 10,571,774 and $ 13,561,266 in cash and cash equivalents, respectively.

At June 30, 2022 and December 31, 2021, the Company had $ 7,394,892 and $ 13,561,266 in cash and cash equivalents, respectively.

Available-for-sale

debt securities are recorded at fair value with the net unrealized gains and losses (that are deemed to be temporary) reported as a

component of other comprehensive income (loss).

Realized gains and losses and charges for other-than-temporary impairments are

included in determining net income, with related purchase costs based on the first-in, first-out method.

The Company evaluates its

available-for-sale-investments for possible other than-temporary impairments by reviewing factors such as the extent to which, and

length of time, an investment’s fair value has been below the Company’s cost basis, the issuer’s financial

condition, and the Company’s ability and intent to hold the investment for sufficient time for its market value to recover.

For impairments that are other-than temporary, an impairment loss is recognized in earnings equal to the difference between the

investment’s cost and its fair value at the balance sheet date of the reporting period for which the assessment is made.

fair value of the investment then becomes the new amortized cost basis of the investment, and it is not adjusted for subsequent

recoveries in fair value.

following is a summary of the unrealized gains, losses, and fair value by investment type as of March 31, 2022:

debt securities are recorded at fair value with the net unrealized gains and losses (that are deemed to be temporary) reported as a component

of other comprehensive income (loss).

Realized gains and losses and charges for other-than-temporary impairments are included in determining

net income, with related purchase costs based on the first-in, first-out method.

The Company evaluates its available-for-sale-investments

for possible other than-temporary impairments by reviewing factors such as the extent to which, and length of time, an investment’s

fair value has been below the Company’s cost basis, the issuer’s financial condition, and the Company’s ability and

intent to hold the investment for sufficient time for its market value to recover.

For impairments that are other-than temporary, an

impairment loss is recognized in earnings equal to the difference between the investment’s cost and its fair value at the balance

sheet date of the reporting period for which the assessment is made.

The fair value of the investment then becomes the new amortized

cost basis of the investment, and it is not adjusted for subsequent recoveries in fair value.

following is a summary of the unrealized gains, losses, and fair value by investment type as of June 30, 2022:

Schedule of Unrealized Gains, Losses, and Fair Value

Amortized Cost

Gross Unrealized

Gross Unrealized Losses

Corporate bonds

5 unchanged sentences

Accounts are written off against the allowance after all attempts to collect a receivable have failed.

At March 31, 2022 and December 31, 2021, the allowance was $ 3,121

respectively in the consolidated financial statements.

At June 30, 2022 and December 31, 2021, the allowance was $ 14,010 and $ 5,665 respectively in the consolidated financial statements.

is valued at the lower of the inventory’s cost or market using the first-in, first-out method.

2 unchanged sentences

consists solely of fuel.

At March 31, 2022 and December 31, 2021, the allowance was $ 0 in the consolidated financial statements.

At June 30, 2022 and December 31, 2021, the allowance was $ 0 in the consolidated financial statements.

of sales includes the cost of fuel sold and wages paid to drivers.

Concentrations

the three months ended March 31, 2022 and 2021, the Company had one customer that made up approximately 49 % and 55 % of revenue, respectively.

Company had three customers that made up 27 %, 22 % and 10 % of accounts receivable as of March 31, 2022, and two customers that made up

37 % and 23 % of accounts receivable as of December 31, 2021.

Company purchases substantially all of its fuel from one vendor.

the three months ended June 30, 2022 and 2021, the Company had one customer that made up approximately 38 % and 58 % of revenue, respectively.

For the six months ended June 30, 2022 and 2021, the Company had one customer that made up approximately 42 % and 56 % of revenue, respectively.

Company had four customers that made up 24 %, 15 %, 12 % and 10 % of accounts receivable as of June 30, 2022, and two customers that made

up 37 % and 23 % of accounts receivable as of December 31, 2021.

Company purchases substantially all of its fuel from two vendors.

Company determines if an arrangement is a lease at inception.

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costs are expensed as incurred.

The Company incurred advertising costs for the three months ended March 31, 2022 and 2021 of approximately

$ 188,591 and $ 24,837 , respectively.

The Company incurred advertising costs for the three months ended June 30, 2022 and 2021 of $ 395,210

and $ 51,243 , respectively, and for the six months ended June 30, 2022 and 2021 of $ 583,802 and $ 76,081 , respectively.

Company accounts for income taxes in accordance with ASC 740, Income Taxes , (“ASC 740”) which prescribes a recognition

10 unchanged sentences

Any instruments that would have an anti-dilutive effect have been excluded from the computation of earnings per share.

of such shares excluded from the computations of diluted loss per share are as follows The number of such shares excluded from the computations

of diluted loss per share are calculated under the treasury stock method for the three months ended March 31, 2021 and 2020, respectively:

following potential common shares were excluded from the calculation of diluted net loss per share for the periods indicated because

including them would have had an anti-dilutive effect:

Schedule of Shares Excluded from the Computations of Diluted Loss Per Share

Three months ended

Six months ended

Stock options

Acquisition and bonus shares issuable

Reclassifications

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of America, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business.

has sustained a net loss since inception and does not have sufficient revenues and income to fully fund the operations.

the Company has relied on loans from stockholders and others as well as stock sales to fund its activities to date.

For the quarter ended

March 31, 2022, the Company had a net loss of $ 3,266,510 .

At March 31, 2022, the Company had an accumulated deficit of $ 20,605,906 and

a working capital surplus of $ 12,747,827 .

The Company anticipates that it will continue to generate operating losses and use cash in

operations through the foreseeable future.

September 2021, the Company completed its Initial Public Offering and raised $ 25,250,000

in net proceeds after deducting the underwriting

has sustained net losses since inception and does not have sufficient revenues and income to fully fund the operations.

the Company has relied on equity and debt financings to fund its activities to date.

For the quarter ended June 30, 2022, the Company

had a net loss of $ 3,872,670 .

At June 30, 2022, the Company had an accumulated deficit of $ 24,478,576 .

The Company anticipates that it

will continue to generate operating losses and use cash in operations through the foreseeable future.

September 2021, the Company completed its Initial Public Offering and raised $ 25,250,000 in net proceeds after deducting the underwriting

discount and offering expenses.

The Company expects that its cash on hand will fund its operations for approximately 12-14 months

after the issuance date of these financial statements.

However, since inception, the Company’s operations have primarily been funded

through proceeds received in equity and debt financings.

The Company anticipates that it will need to raise additional capital in order

The Company anticipates that it will need to raise additional capital in the next 4-6 months in order

to fund its operations.

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enter into collaborations with other companies or acquire other companies to enhance or complement its product and service offerings.

There can be no assurances that, in the event that we require additional financing, such financing will be available on terms which are

favorable to us, or at all.

If we are unable to raise additional funding to meet our working capital needs in the future, we will be

forced to delay, reduce or cease our operations.

There can be no assurances that financing will be available on terms which are favorable, or at all.

If the Company is unable to raise

additional funding to meet its working capital needs in the future, it will be forced to delay, reduce or cease its operations.

Related Party Transactions

the three months ended March 31, 2021, Company issued 26,573 shares of common stock to an executive as a signing bonus and recorded related

stock compensation expense of $ 100,000 .

During the three months ended March 31, 2022, the Company issued 160,219 shares of restricted

stock and 396,511 stock options to executives.

Total stock compensation expense of $ 475,000 is being recorded over the vesting period.

In addition, 22,321 shares of vested stock and 125,951 vested stock options were granted to a former executive for which stock compensation

expense of $ 112,500 was recorded.

The aforementioned grants were made pursuant to the Company’s 2020 Incentive Compensation

the six months ended June 30, 2021, Company issued notes payable to related parties totaling $ 800,000 .

The notes were repaid in 2021.

During the six months ended June 30, 2021, the Company issued 490,000 shares to executives and other employees as a signing bonus recorded

related stock compensation expense of $ 490,000 .

the six months ended June 30, 2022, the Company issued 182,540 shares of restricted stock and 522,462 stock options to executives.

in these amounts are 75,893 shares of stock and 125,951 stock options granted to two former executives for which vesting was accelerated

upon their termination.

The Company also granted a total of 649,074 restricted shares to directors during the six months ended June 30,

The aforementioned grants were made pursuant to the Company’s 2020 and 2022 Incentive Compensation Plan.

Company entered into a consulting agreement, dated November 18, 2020, with Balance Labs, Inc.

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of the Board of Balance Labs is also the former president of the Company and beneficially owns approximately 26 % of the Company’s

common stock as of March 31, 2021.

common stock as of June 30, 2022.

Company is party to a technology license agreement with Fuel Butler LLC, which is owned 20 % by an executive of the Company.

1 unchanged sentence

Schedule of Fixed Assets

March 31, 2022

June 30, 2022

December 31, 2021

7 unchanged sentences

Fixed assets, net

expense totaled $ 100,230 and $ 28,760 for the three months ended March 31, 2022 and 2021, respectively.

expense totaled $ 230,536 and $ 30,646 for the three months ended June 30, 2022 and 2021, respectively and $ 330,766 and $ 59,406 for the

six months ended June 30, 2022 and 2021, respectively.

Intangible Assets

1 unchanged sentence

Schedule of Intangible Assets

March 31, 2022

June 30, 2022

December 31, 2021

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the technology.

See Note 11 for

details of intangibles from an acquisition during the three months ended March 31, 2022.

expense on intangible assets totaled $ 237,434 and $ 89,984 for the three months ended March 31, 2022 and 2021, respectively.

amortization schedule for intangible assets as of March 31, 2022 is as follows:

Note 11 for details of intangibles from an acquisition during the six months ended June 30, 2022.

expense on intangible assets totaled $ 228,275 and $ 202,484 for the three months ended June 30, 2022 and 2021, respectively, and $ 465,710

and $ 292,468 for the six months ended June 30, 2022 and 2021, respectively.

amortization schedule for intangible assets as of June 30, 2022 is as follows:

Schedule of Future Amortization Expense for Intangible Assets

2022 (April to December)

2022 (July to December)

Accounts Payable and Accrued Liabilities

1 unchanged sentence

Schedule of Accounts Payable and Accrued Liabilities

March 31, 2022

June 30, 2022

December 31, 2021

2 unchanged sentences

Accrued payroll

Accrued expenses

Total Accounts Payable and Accrued Liabilities

Line of Credit

December 10, 2021, the Company entered into a Securities-Based Line of Credit, Promissory Note, Security, Pledge and Guaranty

Agreement (the “Line of Credit”) with City National Bank of Florida.

Pursuant to the revolving Line of Credit, the Company

may borrow up to the Credit Limit, determined from time to time in the sole discretion of the Bank.

The Credit Limit was approximately

$ 12.1 million and $ 16.2

million at March 31, 2022 and December 31, 2021, respectively.

Outstanding borrowings were $ 152,500

and $ 0 as of March

December 10, 2021, the Company entered into a Securities-Based Line of Credit, Promissory Note, Security, Pledge and Guaranty Agreement

(the “Line of Credit”) with City National Bank of Florida.

Pursuant to the revolving Line of Credit, the Company may borrow

up to the Credit Limit, determined from time to time in the sole discretion of the Bank.

The Credit Limit was approximately $ 8.4 million

and $ 16.2 million at June 30, 2022 and December 31, 2021, respectively.

Outstanding borrowings were $ 850,000 and $ 0 as of June 30, 2022

and December 31, 2021, respectively.

To secure the repayment of the Credit Limit, the Bank will have a first priority lien and

continuing security interest in the securities held in the Company’s investment portfolio with the Bank.

The amount outstanding

under the Line of Credit shall bear interest equal to the Reference Rate plus the Spread (as defined in the Line of Credit) in effect

To secure the repayment of the Credit Limit, the Bank will have a first priority lien and continuing

security interest in the securities held in the Company’s investment portfolio with the Bank.

The amount outstanding under the

Line of Credit shall bear interest equal to the Reference Rate plus the Spread (as defined in the Line of Credit) in effect each day.

Interest is due and payable monthly in arrears.

The interest rate on the Line of Credit was 1.75 %

at March 31, 2022 and 1.5 0%

at December 31, 2021.

The interest rate on the Line of Credit was 3.00 % at June 30, 2022 and 1.50 % at December

The Bank may, at any time, without notice, and at its sole discretion, demand the repayment of the outstanding.

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One of the lenders has provided a commercial line of credit of $ 4.0 million, under which approximately $ 2.2 million

remained available as of March 31, 2022 for the financing of vehicles under retail installment contracts before June 30, 2022.

loans under the commercial line of credit and from other sources have interest rates that range from 3.5 % to 7.4 % (primarily 3.5 %).

remained available as of June 30, 2022 for the financing of vehicles under retail installment contracts through December 31, 2022.

vehicle loans under the commercial line of credit and from other sources have interest rates that range from 3.5 % to 9.0 % (primarily

November 24, 2020, the Company issued a note payable in the amount of $ 1,000,000 ;

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debt except for vehicle loans was repaid in September 2021 after the consummation of the Company’s IPO.

of debt as of March 31, 2022 are as follows:

of debt as of June 30, 2022 are as follows:

Schedule of Maturities of Long-Term Debt

2022 (April to December)

2022 (July to December)

Shareholders Equity

shares include 500 million common shares and 50 million preferred shares.

Immediately prior to the Company’s IPO in September 2021,

2021, all shares of common stock then outstanding converted into an aggregate of 18,750,000 shares of common stock following a one

for 3.763243 reverse stock split approved by the Company’s board of directors and its shareholders .

all shares of common stock then outstanding converted into an aggregate of 18,750,000 shares of common stock following a one for 3.763243

reverse stock split approved by the Company’s board of directors and its shareholders .

August 1, 2020, the Company’s board of directors approved the EzFill Holdings, Inc.

2020 Equity Incentive Plan (Plan), which plan

has also been approved by the Company’s shareholders.

The Company has reserved 1,913,243 of its outstanding shares of common stock

for issuance under the Plan.

the three months ended March 31, 2021, the Company issued 54,474 shares of common stock to executives and other employees as a signing

2020 Equity Incentive Plan (2020 Plan), which

plan has also been approved by the Company’s shareholders.

The Company has reserved 1,913,243 of its outstanding shares of common

stock for issuance under the 2020 Plan.

On June 3, 2022, the Company’s board of directors approved the EzFill Holdings, Inc.

Equity Incentive Plan (2022 Plan), which plan has also been approved by the Company’s shareholders.

The Company has reserved 2,600,000

of its outstanding shares of common stock for issuance under the 2022 Plan.

the six months ended June 30, 2021, the Company issued 490,000 shares of common stock to executives and other employees as a signing

The Company recorded stock-based compensation expense of $ 490,000 .

the three months ended March 31, 2021, the Company issued 16,807 and 26,573 shares of common stock for sponsorship and consulting services,

the six months ended June 30, 2021, the Company issued 126,498 and 110,000 shares of common stock for sponsorship and consulting services,

respectively.

The Company recorded stock-based compensation expense of $ 236,498 .

the three months ended March 31, 2021, the Company issued 159,437 shares related to an acquisition that had previously been accrued in

the three months ended March 31, 2022, the Company issued 10,000 shares to a consultant for services rendered over the preceding three

During the three

months ended March 31, 2022, the Company issued 40,323 shares to the sellers of the assets of Full Service Fueling.

total of 237,500

shares of restricted stock were granted

to employees during the three months ended March 31, 2022.

The restricted shares vest over periods from two to three years and are being

recognized as expense on a straight-line basis over the vesting period of the awards.

A total expense of $ 368,162

was recorded for the three months ended March

31, 2022 related to restricted shares.

A summary of the restricted stock activity is presented as follows:

the six months ended June 30, 2021, the Company issued 600,000 shares related to accrued bonuses and 375,000 shares related to an acquisition

that had previously been accrued in 2020.

the six months ended June 30, 2022, the Company issued 20,000 shares to a consultant for services rendered over the preceding six months.

the six months ended June 30, 2022, the Company issued 40,323 shares to the sellers of the assets of Full Service Fueling.

the six months ended June 30, 2022, the Company issued 182,540 shares of restricted stock and 522,462 stock options to executives.

stock compensation expense of $ 587,500 is being recorded over the vesting period.

Included in these amounts are 75,893 shares of stock

and 125,951 stock options granted to two former executives for which vesting was accelerated upon their termination.

The Company also

granted a total of 649,074 restricted shares to directors during the six months ended June 30, 2022 for which stock compensation expense

of $ 305,000 is being recorded over the vesting period.

The aforementioned grants were made pursuant to the Company’s 2020 and 2022

Incentive Compensation Plan.

summary of the restricted stock activity is presented as follows:

Schedule of Restricted Stock Activity

2 unchanged sentences

December 31, 2021

March 31, 2022

June 30, 2022

Company recognizes forfeitures of restricted shares as they occur rather than estimating a forfeiture rate.

The reduction of stock compensation

expense related to the forfeitures was $ 1,221 for the three months ended March 31, 2022.

stock compensation expense related to restricted stock was approximately $ 709,000 as of March 31, 2021, which will be recognized over

expense related to the forfeitures was $ 1,221 for the six months ended June 30, 2022.

stock compensation expense related to restricted stock was approximately $ 599,000 as of June 30, 2022, which will be recognized over

a weighted-average period of 0.8 years.

Options and Warrants

following table represents stock option activity during the three months ended March 31, 2022:

following table represents stock option activity during the six months ended June 30, 2022:

of Stock Option Activity

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Options granted

Outstanding at March 31, 2022

Exercisable at March 31, 2022

During the three months ended March 31, 2022, the Company granted a total of 522,462 stock options to executives with an exercise price of $ 1.26 and a term of 8 years .

The options vest 1/3 per year after each of the first three years.

The fair value of the stock options of $ 350,000 was determined using the Black-Scholes option pricing model with the following assumptions:

Outstanding at June 30, 2022

Exercisable at June 30, 2022

fair value of the stock options was determined using the Black-Scholes option pricing model with the following assumptions:

Schedule of Fair Value Assumptions

March 31, 2022

Unrecognized stock

compensation expense related to stock options was approximately $ 243,000 as of March 31, 2021, which will be recognized over a weighted-average

Six Months Ended

June 30, 2022

Valuation assumptions:

Risk-free rate

Expected volatility

Expected term (years)

Dividend yield

stock compensation expense related to stock options was approximately $ 221,000 as of June 30, 2022, which will be recognized over a weighted-average

period of 2.5 years.

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until September 14, 2024 , at $ 5.00 per share.

intrinsic value of options and warrants outstanding at March 31, 2022 and December 31, 2021 was $ 0 and $ 0 , respectively.

and Contingencies

intrinsic value of options and warrants outstanding at June 30, 2022 and December 31, 2021 was $ 0 and $ 0 , respectively.

Commitments and Contingencies

Company is subject to litigation claims arising in the ordinary course of business.

3 unchanged sentences

for potential insurance or third-party recoveries.

As of March 31, 2022, and December 31, 2021, the Company is not aware of any litigation,

As of June 30, 2022, and December 31, 2021, the Company is not aware of any litigation,

pending litigation, or other transactions that would require accrual or disclosure under GAAP.

December 3, 2021, the Company signed a lease for 5778 square feet of office space, for occupancy

January 1, 2022.

The lease term is 39 months and the total monthly payment is $ 21,773 , including base rent, estimated operating expenses

and sales tax.

The base rent of $ 14,743 including sales tax was abated for months 1, 13 and 25 of the lease and is subject to a 3% increase.

An initial Right of Use (“ROU”) asset of $ 735,197 was recognized as a non-cash asset addition with the adoption of the lease

accounting standard.

Cash paid for amounts included in the present value of operating lease liabilities was $ 50,577 for the quarter ended

March 31, 2022, and is included in cash flows from operating activities in the accompanying consolidated statement of cash flows.

operating lease expense for this lease was $ 61,444 for the quarter ended March 31, 2022 and is included in operating expenses in the

consolidated statements of operations.

minimum payments under non-cancellable leases as of March 31, 2022 were as follows:

December 3, 2021, the Company signed a lease for 5778 square feet of office space, for occupancy effective January 1, 2022.

term is 39 months and the total monthly payment is $ 21,773 , including base rent, estimated operating expenses and sales tax.

rent of $ 14,743 including sales tax was abated for months 1, 13 and 25 of the lease and is subject to a 3% annual increase.

Right of Use (“ROU”) asset of $ 735,197 was recognized as a non-cash asset addition with the adoption of the lease accounting

Cash paid for amounts included in the present value of operating lease liabilities was $ 65,320 and $ 115,897 for the three and

six months ended June 30, 2022, respectively, and is included in cash flows from operating activities in the accompanying consolidated

statement of cash flows.

The operating lease expense for this lease was $ 61,444 and $ 122,888 for the three and six months ended June

30, 2022, respectively, and is included in operating expenses in the consolidated statements of operations.

minimum payments under non-cancellable leases as of June 30, 2022 were as follows:

Schedule of Future Minimum Payments Under Non-Cancellable Leases

Future Minimum Payments

2022 (April 1 to December 31)

2022 (July 1 to December 31)

Total undiscounted operating leases payments

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and charges from these leases are expensed as incurred.

The Company has

offices at several of its operations locations under leases that are cancellable upon short notice.

Total rent expense for these leases

(including the prior headquarters office) was $ 36,852 and $ 9,227 for the quarters ended March 31, 2022 and 2021, respectively.

income before taxes was negative for the three months ended March 31, 2022.

Tax expense for the three months ended March 31, 2022 and

2021 was $ 0 .

Company has offices at several of its operating locations under leases that are cancellable upon short notice.

Total rent expense for

these leases (including the prior headquarters office) was approximately $ 77,000 and $ 22,000 for the six months ended June 30, 2022 and

2021, respectively.

income before taxes was negative for the six months ended June 30, 2022.

Tax expense for the six months ended June 30, 2022 and 2021

was $ 0 and $ 0 .

Company reviews its filing positions for all open tax years in all U.S.

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to the acquisition were not material.

results of operations for the quarter ended March 31, 2022 include approximately $ 13,000 of revenue and $ 3,000 net loss related to the

acquired business since the March 11, 2022 acquisition date.

results of operations for the six months ended June 30, 2022 include approximately $ 55,000 of revenue and $ 2,000 net loss related to the acquired

business since the March 11, 2022 acquisition date.

accompanying unaudited pro forma combined statements of operations present the accounts of EzFill Holdings, Inc.

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Summary Statement of Operations

EzFill Holdings

Full Service Fueling

4 unchanged sentences

Weighted average common shares – basic and diluted

Subsequent Events

Company evaluates subsequent events that occur after the balance sheet date through the date the financial statements were issued.

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 1. Financial Statements