Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2018

Accounting Policies [Abstract]

Schedule of restatements

The following tables sets forth the effects of the adjustments on affected items within the Company’s previously reported Consolidated Interim Balance Sheet at June 30, 2018, and includes a reclassification adjustment for the stock split of $679:  

	June 30, 2018
	As previously reported			Adjustment			As restated
Additional paid in capital	$	26,464,626		$	1,119,973		$	27,584,599
Accumulated deficit	$	(17,275,449	)	$	(1,119,294	)	$	(18,394,743	)

The following table sets forth the effects of the adjustments on affected items within the Company’s previously reported Consolidated Interim Statement of Operations for the six months ended June 30, 2018:

	Six Months Ended June 30, 2018
	As previously reported			Adjustment			As restated			Effect of Discontinued Operations			As currently reported
Selling, general and administrative expenses	$	6,923,599		$	447,150		$	7,370,749		$	(1,116,686	)	$	6,254,063
Depreciation and amortization		304,687			-			304,687		$	(142,943	)	$	161,744
Total operating expenses	$	7,406,418		$	447,150		$	7,853,568		$	(1,259,629	)	$	(6,593,939	)
Operating loss	$	(6,943,738	)	$	(447,150	)	$	(7,390,888	)	$	(461,541	)	$	(7,852,429	)
Interest income (expense), net	$	(409,953	)	$	(672,144	)	$	(1,082,097	)	$	598		$	(1,081,499	)
Loss from continuing operations	$	(7,353,691	)	$	(1,119,294	)	$	(8,472,985	)	$	(460,943	)	$	(8,933,928	)
Income from discontinued operations	$	-		$	-		$	-		$	460,943		$	460,943
Net loss	$	(7,353,691	)	$	(1,119,294	)	$	(8,472,985	)	$	460,943		$	(8,472,985	)
Net loss attributable to common shareholders	$	(7,670,552	)	$	(1,119,294	)	$	(8,789,846	)	$	-		$	(8,789,846	)
Net loss per common shares, basic and diluted	$	(6.57	)				$	(7.53	)				$	(7.53	)

The following table sets forth the effects of the adjustments on affected items within the Company’s previously reported Consolidated Interim Statement of Cash Flows for the six months ended June 30, 2018:

	Six Months Ended June 30, 2018
	As previously reported	Adjustment	As restated
Net loss	$(7,353,691)	$(1,119,294)	$(8,472,985)
Stock based compensation	$1,200,652	$447,150	$1,647,802
Non-cash interest expense	$23,869	$672,144	$696,013

Disaggregation of revenue

	Three Months Ended June 30,				Six Months Ended June 30,
	2018		2017		2018		2017
DropCar Operating Subscription Services	$	1,282,962	$	671,202	$	2,639,555	$	1,171,888
DropCar Operating Services On-Demand		591,035		218,093		926,517		355,965
DropCar Operating Revenue (1)(2)		1,873,997		889,295		3,566,072		1,527,853

(1)	Represents revenues recognized by type of services.
(2)	All revenues are generated in the United States.

Schedule of antidilutive securities excluded from computation of earnings per share

	As of June 30,
	2018		2017
Common stock equivalents:
Common stock options		202,058		-
Series A, H-1, H-3, H-4, I and Merger common stock purchase warrants		585,307		-
Series H, H-3, and H-4 Convertible Preferred Stock		2,739,225		-
Restricted shares (unvested)		244,643		-
Convertible notes		-		63,307
Series seed preferred stock		-		275,691
Series A preferred stock		-		611,944
Totals		3,771,233		950,942