Driveitaway Holdings Files Q2 10-Q

TL;DR

Driveitaway Holdings filed their Q2 10-Q. Financials are in.

AI Summary

Driveitaway Holdings, Inc. filed its 10-Q for the period ending March 31, 2024. The filing covers the second quarter of their fiscal year, which ends on September 30th. The company's principal executive offices are located at 3401 Market Street, Suite 200/201, Philadelphia, PA 19104.

Why It Matters

This filing provides investors with an update on Driveitaway Holdings' financial performance and position for the second quarter of fiscal year 2024.

Risk Assessment

Risk Level: low — This filing is a standard quarterly report and does not contain immediate red flags.

Key Players & Entities

• Driveitaway Holdings, Inc. (company) — Filer of the 10-Q
• 3401 Market Street, Suite 200/201, Philadelphia, PA 19104 (location) — Company's business and mail address
• March 31, 2024 (date) — End of the reporting period
• September 30 (date) — Fiscal year end

FAQ

Filing Documents

• e5687_10q.htm (10-Q) — 1124KB
• e5687_ex31-1.htm (EX-31.1) — 20KB
• e5687_ex31-2.htm (EX-31.2) — 19KB
• e5687_ex32-1.htm (EX-32.1) — 12KB
• e5687_ex32-2.htm (EX-32.2) — 14KB
• 0001731122-24-000850.txt ( ) — 5542KB
• dway-20240331.xsd (EX-101.SCH) — 42KB
• dway-20240331_cal.xml (EX-101.CAL) — 48KB
• dway-20240331_def.xml (EX-101.DEF) — 158KB
• dway-20240331_lab.xml (EX-101.LAB) — 345KB
• dway-20240331_pre.xml (EX-101.PRE) — 292KB
• e5687_10q_htm.xml (XML) — 750KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION F-1 Item 1.

Financial Statements

Financial Statements F-1 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 1 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 7 Item 4.

Controls and Procedures

Controls and Procedures 8

– OTHER INFORMATION

PART II – OTHER INFORMATION 10 Item 1.

Legal Proceedings

Legal Proceedings 10 Item 1A.

Risk Factors

Risk Factors 10 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 10 Item 3. Defaults Upon Senior Securities 10 Item 4. Mine Safety Disclosures 10 Item 5. Other Information 10 Item 6. Exhibits 11 PART I – FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS DRIVEITAWAY HOLDINGS, INC. INDEX TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS MARCH 31, 2024 Page Condensed Consolidated Balance Sheets as of March 31, 2024 (Unaudited) and September 30, 2023 F-2 Condensed Consolidated Statements of Operations for the three and six months ended March 31, 2024 and March 31, 2023 (Unaudited) F-3 Condensed Consolidated Statements of Changes in Stockholders' Deficit for the three and six months ended March 31, 2024 and March 31, 2023 (Unaudited) F-4 Condensed Consolidated Statements of Cash Flows for the six months ended March 31, 2024 and March 31, 2023 (Unaudited) F-5 Notes to the Condensed Consolidated Financial Statements (Unaudited) F-6 F-1 DriveItAway Holdings, Inc. Condensed Consolidated Balance Sheets March 31, September 30, 2024 2023 (Unaudited) Assets Current assets Cash $ 9,215 $ 4,632 Restricted cash 29,622 18,559 Accounts receivable, net 10,347 11,584 Prepaid expenses 2,802 — Total current assets 51,986 34,775 Fixed assets, net 168,163 184,228 Intangible assets, net 9,073 11,787 Total Assets $ 229,222 $ 230,790 Liabilities and Stockholders' Deficit Current Liabilities Accounts payable and accrued liabilities $ 820,292 $ 664,707 Accrued interest – related parties 8,636 4,918 Deferred revenue 4,967 7,233 Customer deposits 1,339 2,234 Due to related parties 25,080 25,080 Promissory notes payable, net of debt discount 27,922 27,437 Promissory notes payable, in default 20,000 12,500 Promissory notes payable - related parties, in default 42,500 50,000 Convertible notes payable, net of debt discount 1,509,309

View Full Filing

View this 10-Q filing on SEC EDGAR