Item 8.01 Other Events.

On September 30, 2022 (the "Issuance Date"), Terren S. Peizer, executive chairman of the board of directors of EVmo, Inc., a Delaware corporation (the "Company"), agreed to provide financing to the Company in the amount of $600,000 (the "Principal Amount"). The Principal Amount will be allocated as collateral for the Company's newly-formed, wholly-owned subsidiary, Premier Mobility Insurance Inc., an Oklahoma corporation, a captive insurer that will provide insurance directly to the Company.

As consideration for Mr. Peizer's action, on the Issuance Date the Company issued to Mr. Peizer a subordinated promissory note (the "Note") due September 30, 2023 (the "Maturity Date") in the Principal Amount. The Note shall not bear interest.

On the Maturity Date, the Company shall pay the Principal Amount to Mr. Peizer and shall also issue to him a common stock purchase warrant, which will enable Mr. Peizer to purchase up to 3,640,000 shares of the common stock of the Company, par value $0.000001 per share, at an exercise price of $0.33 (the "Warrant"). The Warrant shall be exercisable at any time between the Maturity Date through September 30, 2028.

The Note was issued, and the Warrant shall be issued, in reliance on the exemption from registration pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended.

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