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Operating Expenses

12 Months Ended

Dec. 31, 2023

17 - OPERATING EXPENSES

For the years ended at December 31, 2023, 2022 and 2021 expenses consist of the following:

	January 1 - Dec 31,		January 1 - Dec 31,		January 1 - Dec 31,
	2023		2022		2021

Cost of revenue		24,084,598		27,092,577		16,955,555
Research and development expenses		1,954,842		1,877,907		1,038,547
General and administrative expenses		15,130,045		9,040,589		6,053,503
Selling and marketing expenses		7,347,777		1,646,144		1,256,315

Total		48,517,262		39,657,217		25,303,920

For the years ended at December 31, 2023, 2022 and 2021 cost of revenue comprised the following:

	January 1 - Dec 31,		January 1 - Dec 31,		January 1 - Dec 31,
	2023		2022		2021
Depreciation and amortization expense		9,322,334		8,456,349		5,203,696
Personnel expenses		6,285,287		7,702,964		5,188,288
Operating lease expense		2,210,841		3,390,748		886,151
Rental vehicle maintenance and repair expense		2,286,401		3,412,207		2,578,642
Data cost expense		953,238		1,388,243		698,599
Fuel expenses		440,159		771,863		270,161
Electricity expense		352,486		439,664		145,896
Rent expense		307,326		154,905		553,431
Loss on disposal of assets		331,491		143,527		178,619
Transportation expense		302,459		118,561		43,987
Commission expenses		293,411		327,227		259,271
Service vehicle maintenance expense		146,034		236,760		242,188
Warehouse expense		85,205		109,796		62,478
Inventory provision expense		62,805		--		--
Occupancy tax expense		105,280		111,153		554,253
Office expenses		25,275		2,512		--
Other		574,566		326,098		89,895

Total		24,084,598		27,092,577		16,955,555

For the years ended at December 31, 2023, 2022 and 2021 general and administrative expenses comprise the following:

	January 1 - Dec 31,		January 1 - Dec 31,		January 1 - Dec 31,
	2023		2022		2021

Personnel expenses		8,277,874		5,876,014		3,154,926
Consulting & legal expense		4,344,986		1,334,304		1,466,165
Depreciation and amortization expense		680,959		640,590		269,341
Insurance expense		328,014		--		--
Loss on disposal		235,185		--		--
Office expenses		276,905		301,422		169,816
Communication expense		165,436		87,886		119,500
Travelling expense		163,411		148,672		21,647
Transportation expense		159,869		161,727		137,632
Non-income-based taxes		109,566		37,820		446,764
Software expense		44,909		134,423		102,518
Other		342,931		317,731		165,194

Total		15,130,045		9,040,589		6,053,503

For the years ended at December 31, 2023, 2022 and 2021 selling and marketing expenses comprise the following:

	January 1 - Dec 31,		January 1 - Dec 31,		January 1 - Dec 31,
	2023		2022		2021

Social media expense		2,444,491		1,046,590		148,110
Advertising consulting expense		2,501,107		178,403		78,736
Promotional operating expense		781,886		257,039		102,207
Rider referral program expense		532,103		66,586		105,756
Personnel expense		518,240		--		--
Data cost expense		505,889		--		--
Other		64,061		97,526		821,506

Total		7,347,777		1,646,144		1,256,315