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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>As filed with the Securities and Exchange
Commission on July 16, 2019</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Registration No.&nbsp;333-</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>FORM S-1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>REGISTRATION STATEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>UNDER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>THE SECURITIES ACT OF 1933</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>HyreCar Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Exact name of Registrant as specified in
its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1.5pt solid; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Delaware</B></FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>7510</B></FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>47-2480487</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 32%; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(State&nbsp;or&nbsp;other&nbsp;jurisdiction&nbsp;of</FONT><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">incorporation&nbsp;or&nbsp;organization)</FONT></TD>
    <TD STYLE="width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 32%; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Primary&nbsp;Standard&nbsp;Industrial</FONT><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Classification&nbsp;Code&nbsp;Number)</FONT></TD>
    <TD STYLE="width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 32%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(I.R.S.&nbsp;Employer</FONT><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Identification&nbsp;Number)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>355 South Grand Avenue, Suite 1650</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Los Angeles, CA 90071</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(888) 688-6769</B><BR>
(Address, including zip code, and telephone number, including area code, of Registrant&rsquo;s principal executive offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Joseph Furnari</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Chief Executive Officer</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>355 South Grand Avenue, Suite 1650</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Los Angeles, CA 90071</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(888) 688-6769</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Name, address, including zip code, and
telephone number, including area code, of agent for service)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><I>Copies to:</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%; text-align: center">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Richard A. Friedman</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Alexander T. Yarbrough</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Sheppard, Mullin, Richter &amp; Hampton
        LLP<BR>
        30 Rockefeller Plaza<BR>
        New York, NY 10112<BR>
        Telephone: (212) 653-8700</B></P></TD>
    <TD STYLE="width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 49%; text-align: center">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Jonathan R. Zimmerman</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Ben A. Stacke</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Faegre Baker Daniels LLP</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>90 S. Seventh Street, Suite 2200</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Minneapolis, MN 55402</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Telephone: (612) 766-7000</B></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Approximate date of commencement of proposed
sale to the public:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>As soon as practicable after the effective
date of this registration statement.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If any of the securities being registered
on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933 check the
following box: &#9744;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If this Form is filed to register additional
securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities
Act registration statement number of the earlier effective registration statement for the same offering.&nbsp;&#9744;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If this Form is a post-effective amendment
filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement
number of the earlier effective registration statement for the same offering. &#9744;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If this Form is a post-effective amendment
filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement
number of the earlier effective registration statement for the same offering. &#9744;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Indicate by check mark whether the registrant
is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company.
See the definitions of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer,&rdquo; &ldquo;smaller reporting company,&rdquo;
and &ldquo;emerging growth company&rdquo; in Rule 12b-2 of the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Large accelerated filer</FONT></TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD STYLE="width: 30%">&nbsp;</TD>
    <TD STYLE="width: 30%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accelerated filer</FONT></TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-accelerated filer</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9746;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Smaller reporting company</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9746;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Emerging growth company</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9746;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="background-color: white">If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided to Section&nbsp;7(a)(2)(B) of the Securities Act.&nbsp;&#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><B>CALCULATION
OF REGISTRATION FEE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Title of Each Class of<BR> Securities to be Registered</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Proposed Maximum<BR> Aggregate Offering</B><BR> <B>Price<SUP>(1)</SUP></B></P></TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Amount of<BR> Registration
    Fee<SUP>(2)</SUP></TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; text-indent: -12pt; padding-left: 12pt">Common stock, par value $0.00001 per share</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">13,363,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">1,619.60</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
</TABLE>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: left">(1)</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Estimated
solely for the purpose of computing the amount of the registration fee pursuant to Rule 457(o) under the Securities Act of 1933,
as amended. Includes shares of common stock that the underwriter has the option to purchase to cover over-allotments, if any.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: left">(2)</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Calculated
pursuant to Rule 457(o) under the under the Securities Act of 1933, as amended, based on an estimate of the proposed maximum aggregate
offering price of the securities registered hereunder to be sold by the registrant. </TD>
</TR></TABLE>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>The registrant hereby
amends this registration statement on such date or dates as may be necessary to delay its effective date until the registrant shall
file&nbsp;a further amendment which specifically states that this registration statement shall thereafter become effective in accordance
with Section&nbsp;8(a) of the Securities Act of 1933 or until the registration statement shall become effective on such date as
the Securities and Exchange Commission, acting pursuant to said Section&nbsp;8(a), may determine.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: Red"><B>The information
in this prospectus is not complete and may be changed. These securities may not be sold until the registration statement filed
with the Securities and Exchange Commission is declared effective. This prospectus is not an offer to sell nor does it seek an
offer to buy these securities in any state where the offer or sale is not permitted</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>PRELIMINARY PROSPECTUS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="color: Red"><B>SUBJECT TO
COMPLETION, DATED JULY 16, 2019</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 14pt"><B>3,500,000&nbsp;Shares</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><IMG SRC="img_001.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>HyreCar&nbsp;Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 14pt"><B>Common
Stock</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are offering 3,500,000
shares of our common stock, assuming a public offering price of $3.35 per share, the last reported sale price of our common stock
as reported on the Nasdaq Capital Market on July 12, 2019. Our common stock is listed on the Nasdaq Capital Market under the symbol
&ldquo;HYRE.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are an &ldquo;emerging
growth company&rdquo; as that term is used in the Jumpstart Our Business Startups Act of 2012, or the JOBS Act, and, as such, elect
to comply with certain reduced public company reporting requirements for future filings. See &ldquo;Prospectus Summary&mdash;Implications
of Being an Emerging Growth Company.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Investing in
our securities involves a high degree of risk. You should review carefully the risks and uncertainties described under the
heading &ldquo;Risk Factors&rdquo; beginning on page  5 of this prospectus, and under similar headings in any amendments or
supplements to this prospectus.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Neither the Securities
and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this
prospectus is truthful or complete. Any representation to the contrary is a criminal offense.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Per Share</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Total</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="width: 78%; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Public offering price</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="width: 8%; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="width: 8%; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Underwriting discount <SUP>(1)</SUP></FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Proceeds, before expenses, to us <SUP>(2)</SUP></FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We refer you to &ldquo;Underwriting&rdquo; for additional information regarding underwriting compensation.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>(2)</SUP></FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We estimate that total expenses payable by us, excluding the underwriting discount, will be approximately&nbsp;$350,000.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have granted
the underwriter a 30-day option to purchase up to 525,000 additional shares of common stock from us at the public offering
price, less the underwriting discount, to cover over-allotments, if any, assuming a public offering price of $3.35 per share, the last reported sale price of our common stock
as reported on the Nasdaq Capital Market on July 12, 2019.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The underwriter expects
to deliver the shares to investors on or about &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2019,
subject to customary closing conditions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>Sole Book-Running Manager</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 14pt"><B>Northland
Capital Markets</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">The date of this prospectus is&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
2019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>INCORPORATION OF CERTAIN INFORMATION
BY REFERENCE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Securities and
Exchange Commission (the &ldquo;SEC&rdquo;) allows us to &ldquo;incorporate by reference&rdquo; information that we file with them.
Incorporation by reference allows us to disclose important information to you by referring you to those other documents. The information
incorporated by reference is an important part of this prospectus, and information that we file later with the SEC will automatically
update and supersede this information. We filed a registration statement on Form&nbsp;S-1, of which this prospectus forms a part,
under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;), with the SEC with respect to the securities being
offered pursuant to this prospectus. This prospectus omits certain information contained in the registration statement, as permitted
by the SEC. You should refer to the registration statement, including the exhibits, for further information about us and the securities
being offered pursuant to this prospectus. Statements in this prospectus regarding the provisions of certain documents filed with,
or incorporated by reference in, the registration statement are not necessarily complete and each statement is qualified in all
respects by that reference. Copies of all or any part of the registration statement, including the documents incorporated by reference
or the exhibits, may be obtained upon payment of the prescribed rates at the offices of the SEC listed above in &ldquo;Where You
Can Find More Information.&rdquo; We are incorporating by reference the documents listed below, which we have already filed with
the SEC, and all documents subsequently filed by us pursuant to Sections&nbsp;13(a), 13(c), 14 or 15(d)&nbsp;of the Securities
Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;), except as to any portion of any future report or document that
is not deemed filed under such provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in; text-align: left">1.</TD><TD STYLE="text-align: justify">The Company&rsquo;s Annual Report on <A HREF="http://www.sec.gov/Archives/edgar/data/1713832/000121390019005139/f10k2018_hyrecarinc.htm">Form&nbsp;10-K</A>
and <A HREF="http://www.sec.gov/Archives/edgar/data/1713832/000121390019007496/f10k2018a1_hyrecarinc.htm">10-K/A</A> for the year ended December 31, 2018, filed with the SEC on March 28, 2019 and April 30, 2019, respectively;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 71.35pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in; text-align: left">2.</TD><TD STYLE="text-align: justify">The Company&rsquo;s Quarterly Report on <A HREF="http://www.sec.gov/Archives/edgar/data/1713832/000121390019008280/f10q0319_hyrecarinc.htm">Form 10-Q</A>
for the fiscal quarter ended March 31, 2018 filed with the SEC on May 10, 2019;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 71.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in; text-align: left">3.</TD><TD STYLE="text-align: justify">The Company&rsquo;s Current Reports on Form&nbsp;8-K (other than Current Reports furnished
                                                                                  under Item 2.02 or Item 7.01 of Form&nbsp;8-K and exhibits filed on such form that are related to such items) filed with the
                                                                                  SEC on <A HREF="http://www.sec.gov/Archives/edgar/data/1713832/000121390019000755/f8k010919_hyrecarinc.htm">January 15,
                                                                                  2019</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/1713832/000121390019004383/f8k031819_hyrecarinc.htm">March 18,
                                                                                  2019</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/1713832/000121390019007600/f8k042519_hyrecarinc.htm">May 1,
                                                                                  2019</A>, and <A HREF="http://www.sec.gov/Archives/edgar/data/1713832/000121390019011717/f8k062519_hyrecarinc.htm">June 28,
                                                                                  2019</A>;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 71.35pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in; text-align: left">4.</TD><TD STYLE="text-align: justify">The Company&rsquo;s definitive Proxy Statement on
<A HREF="http://www.sec.gov/Archives/edgar/data/1713832/000121390019009519/def14a0519_hyrecar.htm">Schedule 14A</A>, filed with the SEC on May 23, 2019; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 71.35pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in; text-align: left">5.</TD><TD STYLE="text-align: justify">The description of the Company&rsquo;s common stock
contained in the registration statement on <A HREF="http://www.sec.gov/Archives/edgar/data/1713832/000121390018008241/f8a12b0618_hyrecarinc.htm">Form 8-A</A> filed with the SEC on June 26, 2018, including any amendment or report filed
for the purpose of updating that description.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 71.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Any statement contained
in this prospectus or in a document incorporated or deemed to be incorporated by reference into this prospectus will be deemed
to be modified or superseded to the extent that a statement contained in this prospectus or any subsequently filed document that
is deemed to be incorporated by reference into this prospectus modifies or supersedes the statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">You may request, and
we will provide you with, a copy of these filings, at no cost, by calling us at (888) 688-6769 or by writing to us at the following
address:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">HyreCar&nbsp;Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">355 South Grand Avenue, Suite 1650</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Los Angeles, CA 90071</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Attn.: Secretary</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TABLE OF CONTENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 90%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 10%; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Page</B></FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-indent: -10pt"><A HREF="#a_01"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prospectus Summary</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">1</TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-indent: -10pt"><A HREF="#a_02"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Risk Factors</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">5</TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-indent: -10pt"><A HREF="#a_03"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Special Note Regarding Forward-Looking Statements</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">17</TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-indent: -10pt"><A HREF="#a_04"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Use of Proceeds</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">18</TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-indent: -10pt"><A HREF="#a_05"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dividend Policy</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">18</TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-indent: -10pt"><A HREF="#a_06"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Capitalization</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">19</TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-indent: -10pt"><A HREF="#a_07"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dilution</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">20</TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-indent: -10pt"><A HREF="#a_08"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Description of Capital Stock</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">21</TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-indent: -10pt"><A HREF="#a_09"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Underwriting</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">24</TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-indent: -10pt"><A HREF="#a_10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Legal Matters</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">28</TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-indent: -10pt"><A HREF="#a_11"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Experts</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">28</TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-indent: -10pt"><A HREF="#a_12"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Where You Can Find More Information</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">28</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>About this Prospectus</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>You should rely
only on the information contained in, or incorporated by reference into, this prospectus. Neither we nor the Underwriter have authorized
anyone to provide any information or to make any representations other than those contained in this prospectus or in any free writing
prospectus prepared by or on behalf of us or to which we have referred you. We take no responsibility for, and can provide no assurance
as to the reliability of, any other information that others may give to you. The information contained in, or incorporated by reference
into, this prospectus is accurate only as of the date of this prospectus, regardless of the time of delivery of this prospectus
or any sale of our common stock.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For investors outside
of the United States: We has not, and the underwriter have not, done anything that would permit this offering, or possession or
distribution of this prospectus, in any jurisdiction where action for that purpose is required, other than the United States. Persons
outside of the United States who come into possession of this prospectus must inform themselves about, and observe any restrictions
relating to, this offering of shares of our common stock and the distribution of this prospectus outside of the United States.
See &ldquo;Underwriting&rdquo; for additional information on these restrictions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Industry and Market Data</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Certain industry data
and market data included in this prospectus were obtained from independent third-party surveys, market research, publicly available
information, reports of governmental agencies and industry publications and surveys. All of management&rsquo;s estimates presented
herein are based upon management&rsquo;s review of independent third-party surveys and industry publications prepared by a number
of sources and other publicly available information. All of the market data used in this prospectus involves a number of assumptions
and limitations, and you are cautioned not to give undue weight to such estimates. We believe that the information from these industry
publications and surveys included in this prospectus is reliable. The industry in which we operate is subject to a high degree
of uncertainty and risk due to a variety of factors, including those described in the section titled &ldquo;Risk Factors.&rdquo;
These and other factors could cause results to differ materially from those expressed in the estimates made by the independent
parties and by us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 42.85pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Trademarks</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This prospectus contains
references to our trademarks and service marks and to those belonging to other entities. Solely for convenience, trademarks and
trade names referred to in this prospectus may appear without the&nbsp;&reg;&nbsp;or&nbsp;TM&nbsp;symbols, but such references
are not intended to indicate, in any way, that we will not assert, to the fullest extent possible under applicable law, our rights
or the rights of the applicable licensor to these trademarks and trade names. We do not intend our use or display of other companies&rsquo;
trade names, trademarks or service marks to imply a relationship with, or endorsement or sponsorship of us by any other companies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 42.85pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 42.85pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 42.85pt">&nbsp;<B>&nbsp;</B></P>

<DIV STYLE="padding: 5; border: Black 1.5pt solid; width: 98%">

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0"><A NAME="a_01"></A><B>PROSPECTUS SUMMARY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>This summary highlights
information contained elsewhere in this prospectus. This summary does not contain all of the information you should consider before
investing in our common stock. You should read this entire prospectus, including the &ldquo;Risk Factors&rdquo; section, the financial
statements and related notes and the other more detailed information appearing elsewhere or incorporated by reference into this
prospectus.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Unless the context
requires otherwise, references to &ldquo;HyreCar,&rdquo; the &ldquo;Company,&rdquo; &ldquo;we,&rdquo; &ldquo;us,&rdquo; and &ldquo;our,&rdquo;
refer to HyreCar&nbsp;Inc.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Overview</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">HyreCar Inc. was formed
as a corporation in the State of Delaware on November 24, 2014. Our founders identified the need for a car-sharing marketplace
for individuals who wanted to drive for ride-sharing companies such as Uber Technologies Inc. (&ldquo;Uber&rdquo;) and Lyft, Inc.
(&ldquo;Lyft&rdquo;), but whose automobiles could not meet the standards imposed by the ride-sharing companies. For example, Uber
maintains strict guidelines regarding the types of cars a driver can use. Although guidelines relating to cars can differ by state,
in general the use of two door coupes, motorcycles and cars that are 12 years or older are excluded. Our founders, before deciding
to purchase qualifying sedans that met Uber&rsquo;s strict guidelines, first inquired as to whether there were any rental options
available from Uber that would allow them to drive for the ride-sharing platform. To their surprise, there were no rental options
available, other than a shadow industry of individuals renting cars to one another.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">HyreCar is a unique
peer-to-peer car-sharing marketplace that allows car owners (collectively, &ldquo;Owners&rdquo;) to rent their idle cars to ride-sharing
service drivers (collectively, &ldquo;Drivers&rdquo;). By sourcing vehicles from Owners, part-time Drivers may easily
enter and exit the market and our business model allows us to satisfy fluctuating transportation demand in cities around the United
States by matching Owners and Drivers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our business is based
on a proprietary car-sharing marketplace developed to (i) onboard Owners and Drivers, (ii) facilitate the matching of Owners and
Drivers and (iii) log rental activity for Owners and Drivers. All transactions related to the rental (including, but not limited
to, background checks, rentals, deposits and insurance costs) are run securely through the HyreCar platform. Drivers and Owners
access their rental or car dashboards through a unique login. Drivers can easily initiate, terminate or extend a rental through
the platform while Owners can manage their car or fleet of cars through the platform.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We believe we have
a competitive advantage with our commercial automobile insurance policy that covers both Owners and Drivers. The policy is specifically
designed to cover the period of time in which a Driver is operating an Owner&rsquo;s vehicle while not actively operating a vehicle
on a ride-sharing platform, such as Uber or Lyft. During the periods when Drivers are actively operating on a ride-sharing platform,
the insurance subordinates to the state mandated insurance provided by the ride-sharing business. To our knowledge, we are the
only provider of this car-sharing marketplace which is made possible by this unique insurance product.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">To date, the majority
of our sales growth has been through organic search traffic. Going forward however, we intend to significantly increase our spending
on marketing because we believe that online channels and offline brand awareness advertising will provide substantial opportunities
for growth.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Industry and Market Opportunities</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our company was founded
to capitalize on a combination of two growth markets: ride-sharing (an industry led by Uber and Lyft) and car-sharing (an industry
led by companies such as Car2go N.A., LLC, ZipCar, Inc. and Turo, Inc). Our customers are the Drivers that use our car-sharing
marketplace to rent a car and then use that car to make money driving for either Uber or Lyft. Finding enough cars and drivers
to meet demand has been a problem for ride-sharing companies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The transportation
industry represents a massive market. In the United States alone, consumer expenditures on transportation were approximately $1.2
trillion in 2017, and transportation was the second largest household expenditure after housing and was almost twice as large
as healthcare and three times as large as entertainment.&nbsp;We believe we are still in the very early phases of capturing this
massive opportunity. In 2016, ridesharing accounted for just one percent of the vehicle miles traveled in the United States and
in a 2016 survey, 57% of U.S. respondents who used sharing services said that well-priced and convenient offerings could cause
them to give up ownership altogether.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We believe that we
are the only peer-to-peer car-sharing marketplace focused on the ride-sharing industry in the United States. During the years ended
December 31, 2018 and 2017, we added approximately 7,600 and 4,400 new Drivers, respectively, into cars so that they could drive
for Uber and Lyft. These numbers represent an equivalent 73.0% growth rate in new drivers onto the HyreCar platform year over year.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Recent Developments</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are in the process
of preparing our results for our fiscal quarter ended June 30, 2019. Based on currently available information, we estimate that,
for the second fiscal quarter:</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total revenue will be in the range of approximately $3.7 million to $3.9 million for the second fiscal quarter of 2019; and</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 7.5pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Adjusted EBITDA will be in the range of approximately ($1.1) million to ($1.5) million for the second fiscal quarter of 2019.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 7.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Please note that EBITDA
is not a measure of net income as determined by GAAP. EBITDA is a supplemental non-GAAP financial measure that is used by management
and external users of our consolidated financial statements, such as industry analysts, investors, lenders and rating agencies.
We define Adjusted EBITDA as net income before interest income, interest expense, income tax and depreciation and amortization
and non-cash items such as stock based compensation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 7.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This unaudited
preliminary financial information for the fiscal quarter ended June 30, 2019 is based upon our estimates and subject to
completion of our quarter end financial results. Moreover, this data has been prepared solely on the basis of currently
available information by, and is the responsibility of, management. The unaudited preliminary financial information for the
fiscal quarter ended June 30, 2019 has not been reviewed or audited by our independent public accounting firm in accordance
with PCAOB standards. This preliminary financial information is not a comprehensive statement of our financial results for
this period, and our actual results may differ materially from these estimates due to the completion of our financial closing
procedures, final adjustments, and other developments that may arise between now and the time the closing procedures for the
fiscal quarter are completed. Therefore, you should not place undue reliance upon these preliminary financial results. There
can be no assurance that these estimates will be realized, and estimates are subject to risks and uncertainties, many of
which are not within our control. Accordingly, total revenue and Adjusted EBITDA and for any particular period may not be
indicative of future results. See &ldquo;Cautionary Note Regarding Forward-Looking Statements.&rdquo;</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Implications of Being an Emerging Growth
Company</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We
are an &ldquo;emerging growth company&rdquo; as defined in the Jumpstart Our Business Startups Act of 2012, or the JOBS Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section&nbsp;107
of the JOBS Act also provides that an emerging growth company can take advantage of the extended transition period provided in
Section&nbsp;13(a) of the Securities Exchange Act of 1934, as amended, or the Exchange Act, for complying with new or revised accounting
standards. In other words, an emerging growth company can delay the adoption of certain accounting standards until those standards
would otherwise apply to private companies. We have elected to avail ourselves of this exemption and, as a result, our financial
statements may not be comparable to the financial statements of issuers who are required to comply with the effective dates for
new or revised accounting standards that are applicable to public companies. Section&nbsp;107 of the JOBS Act provides that we
can elect to opt out of the extended transition period at any time, which election is irrevocable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We
will remain an emerging growth company until the earliest of: (i)&nbsp;the last day of the first fiscal year in which our annual
gross revenues exceed $1.07&nbsp;billion; (ii)&nbsp;the last day of our fiscal year in 2023; (iii)&nbsp;the date that we become
a &ldquo;large accelerated filer&rdquo; as defined in Rule&nbsp;12b-2 under the Exchange Act, which would occur if the market value
of our common equity held by non-affiliates exceeds $700&nbsp;million as of the last business day of our most recently completed
second fiscal quarter; or (iv)&nbsp;the date on which we have issued more than $1.0&nbsp;billion in non-convertible debt securities
during any three-year period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Corporate Information</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We were incorporated
in the State of Delaware on November 24, 2014. Our principal executive offices and mailing address are 355 South Grand Avenue,
Suite 1650, Los Angeles, California 90071. Our main telephone number is (888) 688-6769. Our corporate website address is: www.hyrecar.com.
The information contained on, or that can be accessed through, our website is not a part of this prospectus and should not be relied
upon with respect to this offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">HyreCar, the HyreCar logo and any other current or future trademarks, service marks and trade names appearing
in this prospectus are the property of HyreCar Inc. Other trademarks and trade names referred to in this prospectus are the property
of their respective owners. Solely for convenience, the trademarks and trade names in this prospectus are referred to without
the symbols &reg; and &trade;, but such references should not be construed as any indicator that their respective owners will
not assert, to the fullest extent under applicable law, their rights thereto.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>THE OFFERING</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="width: 33%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common stock offered by us</FONT></TD>
    <TD STYLE="width: 67%; text-align: justify">3,500,000 shares, assuming a public offering price of $3.35 per share, the last reported sale price of our common stock
as reported on the Nasdaq capital Market on July 12, 2019.</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common stock to be outstanding immediately after this offering <SUP>(1)</SUP></FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">15,831,348 shares (16,356,348 shares if the underwriter exercises its option to purchase additional shares
in full).</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Underwriter&rsquo;s over-allotment option</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The underwriter has
    a 30-day option to purchase up to 525,000 additional shares of our common stock to cover over-allotments, if any.</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Use of proceeds</FONT></TD>
    <TD STYLE="text-align: justify"><P STYLE="margin: 0pt 0">We estimate the net proceeds to us from this offering, after deducting the underwriting discount
                                    and                                     estimated offering expenses payable by us, will be approximately $10,788,750 (or
                                    $12,459,563 if the underwriter&rsquo;s option to purchase additional shares is exercised in full), assuming a public offering
                                    price of                                     $3.35 per share, the last reported sale price of our common stock on the Nasdaq
                                    Capital Market on July 12, 2019. The actual                                     offering price per share will be as
                                    determined between us and the underwriter at the time of pricing, and may be at a
                                    discount to the current market price.&nbsp;We intend to use the net proceeds to us from this offering for general corporate
                                    purposes, including working capital, sales, customer support, technology and marketing activities, and general and
                                    administrative matters. See &ldquo;Use of Proceeds&rdquo; for more information.</P></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nasdaq Capital Market symbol</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;HYRE.&rdquo;</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Risk factors</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This investment involves a high degree of risk. You should read the description of risks set forth under &ldquo;Risk Factors&rdquo; of this prospectus for a discussion of factors to consider before deciding to invest in shares of our common stock.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The number of shares of common stock outstanding that will be outstanding after this offering is based on
12,331,348 shares of our common stock outstanding as of July 15, 2019 and excludes:</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="width: 24px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">93,489 shares of our common stock available for future issuance pursuant to outstanding options under our 2016 Equity Incentive Plan;</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,373,700 shares of our common stock available for future issuance pursuant to outstanding options and restricted stock units under our 2018 Equity Incentive Plan;&nbsp;and</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">510,507 shares of our common stock underlying any outstanding warrants.</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 13.5pt">Unless otherwise indicated,
all information in this prospectus assumes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 13.5pt">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">no exercise of the outstanding options or warrants described above; and</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify; text-indent: -13.5pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">no exercise by the
    underwriter of its option to purchase up to an additional 525,000 shares of our common stock to cover over-allotments, if
    any.</FONT></TD></TR>
</TABLE>


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<P STYLE="margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>




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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>SUMMARY
FINANCIAL DATA&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>The
following table sets forth our summary financial data as of the dates and for the periods indicated. We have derived the statement
of operations data for the years ended December&nbsp;31, 2018 and 2017 from our audited financial statements included in our most
recent Annual Report on </I><A HREF="http://www.sec.gov/Archives/edgar/data/1713832/000121390019005139/f10k2018_hyrecarinc.htm"><I>Form
10-K</I></A><I>, which was filed with the SEC on March 28, 2019, which is incorporated herein by reference. The statements of
operations data for the three months ended March 31, 2019 and 2018, and the balance sheet data as of March 31, 2019 have been
derived from our unaudited condensed financial statements included our Quarterly Report on </I><A HREF="http://www.sec.gov/Archives/edgar/data/1713832/000121390019008280/f10q0319_hyrecarinc.htm"><I>Form
10-Q</I></A><I>, which was filed with the SEC on May 10, 2019, which is incorporated herein by reference. The following summary
financial data should be read with &ldquo;Management&rsquo;s Discussion and Analysis of Financial Condition and Results of Operations&rdquo;
described in our most recent Annual Report on Form 10-K. Our historical results are not necessarily indicative of the results
to be expected in future periods.</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Statement
of Operations Data:</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Three Months Ended<BR> March&nbsp;31,</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Years Ended&nbsp;<BR> December&nbsp;31,</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2017</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 52%; padding-bottom: 1.5pt">Revenues</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</TD><TD STYLE="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">3,510,725</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">1,714,183</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</TD><TD STYLE="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">9,777,079</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">3,223,874</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Operating costs and expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 9pt">Research and development</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">479,996</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">225,087</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,414,727</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">687,039</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">General and administrative</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,035,552</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">889,254</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,600,735</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,819,588</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 9pt">Sales and marketing</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,164,791</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">883,027</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,788,201</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,871,649</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in">Total operating expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,680,339</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,997,368</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13,803,663</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,378,276</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 9pt">Loss from operations</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,728,889</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,574,057</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(9,158,663</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(4,066,950</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Other expense</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 9pt">Interest expense</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">810</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">161,773</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,040,311</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">202,454</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; padding-left: 9pt">Other expense</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">(32,101</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">31,201</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"></TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">44,129</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">1,528</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 4pt">Net loss</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">(1,697,598</TD><TD STYLE="padding-bottom: 4pt; text-align: left">)</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">(1,767,031</TD><TD STYLE="padding-bottom: 4pt; text-align: left">)</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">(11,243,903</TD><TD STYLE="padding-bottom: 4pt; text-align: left">)</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">(4,271,732</TD><TD STYLE="padding-bottom: 4pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt">Net loss per share&mdash;basic and diluted</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">(0.14</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">(0.34</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">(1.31</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">(0.93</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>Weighted average shares outstanding&mdash;basic and diluted</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,883,460</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,252,953</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,557,796</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,590,478</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10pt; text-indent: -10pt; background-color: white"><B>Balance
Sheet Data:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10pt; text-indent: -10pt; background-color: white">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0 0 1.5pt; text-align: center">&nbsp;</TD><TD STYLE="padding: 0 0 1.5pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="padding-top: 0; padding-right: 0; border-bottom: Black 1.5pt solid; padding-left: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>As of March 31, <BR>
2019</B></FONT></TD><TD STYLE="padding: 0 0 1.5pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0; text-align: center">&nbsp;</TD><TD STYLE="padding: 0; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; padding: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>Actual</B></FONT></TD><TD STYLE="padding: 0; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding: 0; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; border-bottom: Black 1.5pt solid; padding: 0; text-align: center">As
    Adjusted<SUP>(1)</SUP></TD><TD STYLE="padding: 0; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; padding: 0; text-indent: 0">Cash</TD><TD STYLE="width: 1%; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left; padding: 0; text-indent: 0">$</TD><TD STYLE="width: 9%; text-align: right; padding: 0; text-indent: 0">6,338,871</TD><TD STYLE="width: 1%; text-align: left; padding: 0; text-indent: 0">&nbsp;</TD><TD STYLE="width: 1%; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left; padding: 0; text-indent: 0">$</TD><TD STYLE="width: 9%; text-align: right; padding: 0; text-indent: 0">17,127,621</TD><TD STYLE="width: 1%; text-align: left; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding: 0; text-indent: 0">Working capital</TD><TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0">&nbsp;</TD><TD STYLE="text-align: right; padding: 0; text-indent: 0">4,545,861</TD><TD STYLE="text-align: left; padding: 0; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0">&nbsp;</TD><TD STYLE="text-align: right; padding: 0; text-indent: 0">15,334,611</TD><TD STYLE="text-align: left; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0; text-indent: 0">Total assets</TD><TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0">&nbsp;</TD><TD STYLE="text-align: right; padding: 0; text-indent: 0">6,988,694</TD><TD STYLE="text-align: left; padding: 0; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0">&nbsp;</TD><TD STYLE="text-align: right; padding: 0; text-indent: 0">17,777,444</TD><TD STYLE="text-align: left; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding: 0; text-indent: 0">Total liabilities</TD><TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0">&nbsp;</TD><TD STYLE="text-align: right; padding: 0; text-indent: 0">2,126,278</TD><TD STYLE="text-align: left; padding: 0; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0">&nbsp;</TD><TD STYLE="text-align: right; padding: 0; text-indent: 0">2,126,278</TD><TD STYLE="text-align: left; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0; text-indent: 0">Additional paid-in-capital</TD><TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0">&nbsp;</TD><TD STYLE="text-align: right; padding: 0; text-indent: 0">23,064,096</TD><TD STYLE="text-align: left; padding: 0; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0">&nbsp;</TD><TD STYLE="text-align: right; padding: 0; text-indent: 0">33,852,811</TD><TD STYLE="text-align: left; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding: 0; text-indent: 0">Accumulated deficit</TD><TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0">&nbsp;</TD><TD STYLE="text-align: right; padding: 0; text-indent: 0">(18,194,355</TD><TD STYLE="text-align: left; padding: 0; text-indent: 0">)</TD><TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0">&nbsp;</TD><TD STYLE="text-align: right; padding: 0; text-indent: 0">(18,194,355</TD><TD STYLE="text-align: left; padding: 0; text-indent: 0">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0; text-indent: 0">Total liabilities and stockholder<FONT STYLE="font-family: Times New Roman, Times, Serif">s&rsquo;
    equity</FONT></TD><TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">6,988,694</FONT></TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">15,651,166</FONT></TD><TD STYLE="text-align: left; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">(1)</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
                                         an as adjusted basis to give effect to our issuance and sale of&nbsp;3,500,000 shares
                                         of common stock in this offering at an assumed public offering price of $3.35 per share,
                                         which was the last reported sale price of our common stock on the Nasdaq Capital Market
                                         on&nbsp;July 12, 2019, after deducting the estimated underwriting discount and estimated
                                         offering expenses payable by us.<B>&nbsp;</B></FONT></TD>
</TR></TABLE>

</DIV>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10pt; text-indent: -10pt; background-color: white"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><B><A NAME="a_02"></A>RISK FACTORS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><I>Any
investment in our common stock involves a high degree of risk. Before deciding whether to purchase our common stock, investors
should carefully consider the risks described below together with the &ldquo;Risk Factors&rdquo; described in our most recent Annual
Report on Form 10-K, which are incorporated herein by reference, as may be amended, supplemented or superseded from time to time
by other reports we file with the SEC. Our business, financial condition, operating results and prospects are subject to the following
material risks as well as those material risks incorporated by reference. Additional risks and uncertainties not presently foreseeable
to us may also impair our business operations. If any of the following risks actually occurs, our business, financial condition
or operating results could be materially adversely affected. In such case, the trading price of our common stock could decline,
and our stockholders may lose all or part of their investment in the shares of our common stock.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B>Risks Related to Our Business and
Our Industry</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><B><I>Our limited
operating history makes it difficult to evaluate our current business and prospects and may increase the risks associated with
your investment.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">We
were founded in 2014. Our limited operating history makes it difficult to evaluate our current business and prospects and plan
for and model our future growth. We have encountered and will continue to encounter risks and uncertainties frequently encountered
by rapidly growing companies in developing markets. If our assumptions regarding these risks and uncertainties are incorrect or
change in response to changes in the ride-sharing or car-sharing market, our results of operations and financial results could
differ materially from our plans and forecasts. Although we have experienced rapid growth since our inception, there is no assurance
that such growth will continue. Any success we may experience in the future will depend in large part on our ability to, among
other things:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">maintain and expand our customer base and the ways in which customers use our platform;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">expand revenue from existing customers through increased or broader use of our platform;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">improve the performance and capabilities of our platform through research and development;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">effectively expand our business domestically and internationally, which will require that we rapidly expand our sales force and fill key management positions; and</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">successfully compete with other companies that currently provide, or may in the future provide, solutions like ours.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">If
we are unable to achieve our key objectives, including the objectives listed above, our business and results of operations will
be adversely affected and the fair market value of our securities could decline.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><B><I>If we do
not respond appropriately, the evolution of the automotive industry towards autonomous vehicles and mobility on demand services
could adversely affect our business.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">The
automotive industry is increasingly focused on the development of advanced driver assistance technologies, with the goal of developing
and introducing a commercially-viable, fully automated driving experience. The high development cost of active safety and autonomous
driving technologies may result in a higher risk of exposure to the success of new or disruptive technologies different than those
being developed by us. There has also been an increase in consumer preferences for mobility on demand services, such as car- and
ride-sharing, as opposed to automobile ownership, which may result in a long-term reduction in the number of vehicles per capita.
These evolving areas have also attracted increased competition from entrants outside the traditional automotive industry. If we
do not continue to innovate to develop or acquire new and compelling products that capitalize upon new technologies in response
to original equipment manufacturers and consumer preferences, this could have an adverse impact on our results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><B><I>If we do
not effectively expand and train our direct sales force, we may be unable to add new customers or increase sales to our existing
customers, and our business will be adversely affected.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">We
continue to be substantially dependent on our direct sales force to obtain new customers and increase sales with existing customers.
There is significant competition for sales personnel with the skills and technical knowledge that we require. Our ability to achieve
significant revenue growth will depend, in large part, on our success in recruiting, training and retaining sufficient numbers
of sales personnel to support our growth. New hires require significant training and may take significant time before they achieve
full productivity. Our recent hires and planned hires may not become productive as quickly as we expect, and we may be unable to
hire or retain sufficient numbers of qualified individuals in the markets where we do business or plan to do business. In addition,
because we continue to grow rapidly, a large percentage of our sales force is new to our company. If we are unable to hire and
train a sufficient number of effective sales personnel, or the sales personnel we hire are not successful in obtaining new customers
or increasing sales to our existing customer base, our business will be adversely affected.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><B><I>Fluctuating
economic conditions make it difficult to predict revenue for a particular period, and a shortfall in revenue may harm our operating
results.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our revenue depends
significantly on general economic conditions and the demand for products in the ride-sharing and car-sharing market. Economic weakness,
customer financial difficulties, and constrained spending on ride-sharing may result in decreased revenue and earnings. Such factors
could make it difficult to accurately forecast our sales and operating results.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>We have no formal contracts with
either Uber or Lyft and our current relationships with either of these companies could change in the future, which could adversely
affect our revenues.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Although we have deployed
drivers and cars to the systems of both Uber and Lyft since our operations began in 2015, there is currently no formal contractual
relationship in place with either company. On May 17, 2017, we announced an arrangement with Lyft that allows us to activate our
Drivers through Lyft&rsquo;s sign-up portal; however, this is an oral arrangement that has not been memorialized in a written agreement.
Consequently, each of these relationships could be discontinued at any time. In addition, virtually all of our revenue is generated
by cars and drivers operating on both the Uber or Lyft platform and therefore this concentration represents a high degree of risk
to us and to potential investors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>The ride-sharing model may not continue
to grow, which would adversely affect our business.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our business and future
growth is significantly dependent on the continued success of each of Uber, Lyft, and other software-based systems that have come
into the marketplace to compete with standard taxicab transportation organizations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">While the effect of
those companies has been to decrease the cost and therefore increase the utilization of ride-sharing, there can be no assurance
that consumer utilization of these systems will continue to grow, or that competition and the resulting price pressure will not
undermine the viability of these types of systems, thereby adversely affecting our business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Our unique peer to peer structure
could be duplicated and our inability to accurately predict user behavior could negatively impact our sales business.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Although to date neither
Uber nor Lyft have endeavored to develop a peer-to-peer system to match drivers and car owners as we are doing, there can be no
assurance that either one of these companies or other competitors subsequently entering the marketplace will not endeavor to do
so, and there can be no assurance that such competition will not have a negative impact on our business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Furthermore, although
several attempts to match up fleets of cars owned by operators with Uber and Lyft drivers have failed, there can be no assurance
that other entities will not enter the marketplace on this basis with economic and logistical models that solve the problems that
caused this failure.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>The market forecasts included in
this prospectus may prove to be inaccurate, and even if the markets in which we operate achieve growth, we cannot assure you our
business will grow at similar rates, if at all.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Growth forecasts are
subject to significant uncertainty and are based on assumptions and estimates, which may not prove to be accurate. Forecasts relating
to the expected growth in the ride-sharing market, including the forecasts or projections referenced in this prospectus, may prove
to be inaccurate. Even if the ride-sharing market experiences the forecasted growth, we may not grow our business at similar rates,
or at all. Our growth is subject to many factors, including our success in implementing our business strategy, which is subject
to many risks and uncertainties. Accordingly, the forecasts of market growth included in this prospectus should not be taken as
indicative of our future growth.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>We rely on third-party insurance
policies to insure auto-related risks. If insurance coverage is insufficient for the needs of our business or our insurance providers
are unable to meet their obligations, we may not be able to mitigate the risks facing our business, which could adversely affect
our business, financial condition and results of operations.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We procure third-party
insurance policies which provide coverage for both Owners and Drivers on our platform. If the amount of one or more auto-related
claims were to exceed our applicable aggregate coverage limits, we may bear the excess liability. Insurance providers have raised
premiums and deductibles for many businesses and may do so in the future. As a result, our insurance and claims expense could increase.
Our business, financial condition and results of operations could be adversely affected if (i) cost per claim, premiums or the
number of claims significantly exceeds our historical experience and coverage limits, (ii) we experience a claim in excess of coverage
limits, (iii) our insurance providers fail to pay insurance claims, or (iv) we experience a claim for which coverage is not provided.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Our actual losses may exceed our
insurance reserves, which could adversely affect our financial condition and results of operations.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We establish insurance
reserves for claims incurred but not yet paid and claims incurred but not yet reported and any related estimable expenses, and
we periodically evaluate and, as necessary, adjust our insurance reserves as our experience develops or new information is learned.
We employ various predictive modeling and actuarial techniques and make numerous assumptions based on limited historical experience
and industry statistics to estimate our insurance reserves. Estimating the number and severity of claims, as well as related judgment
or settlement amounts, is inherently difficult, subjective, and speculative. A number of external factors can affect the actual
losses incurred for any given claim, including the length of time the claim remains open, fluctuations in healthcare costs, legislative
and regulatory developments and judicial developments. Additionally, we may encounter in the future, instances of insurance fraud,
which could increase our actual insurance-related costs. For any of the foregoing reasons, our actual losses for claims and related
expenses may deviate, individually or in the aggregate, from the insurance reserves reflected in our consolidated financial statements.
If we determine that our estimated insurance reserves are inadequate, we may be required to increase such reserves at the time
of the determination, which could result in an increase to our net loss in the period in which the deficiency is determined and
negatively impact our financial condition and results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Our operations are dependent on our
current management. The loss of any member of our management team could adversely affect our operations and financial results.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are highly dependent
upon the retention of the services of our current executive management team, specifically Joseph Furnari, Michael Furnari, Scott
Brogi, Henry Park, and Abhi Arora. The loss of any one of these individuals could adversely affect our operations and financial
results. Our business also depends on our ability to attract and retain additional highly qualified management, technical, operating,
and sales and marketing personnel. We do not currently maintain key person life insurance policies on any of our employees. We
do not have fixed term employment agreements with any of our management employees, all of whom could terminate their relationship
with us at any time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><B><I>Our results
of operations are likely to vary significantly from period to period, which could cause the price of our common stock to decline.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Our
results of operations have varied significantly from period to period. For example, the months of January, February and March are
traditionally very slow for transportation demand. We expect that our results of operations will continue to vary as a result of
a number of factors, many of which are outside of our control and may be difficult to predict, including:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our ability to attract and retain new customers;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 24px; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the budgeting cycles and purchasing practices of customers;</FONT></TD></TR>
<TR>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the timing and success of new service introductions by us or our competitors or any other change in the competitive landscape of the ride-sharing or car-sharing market, including consolidation among our competitors;</FONT></TD></TR>
<TR>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our ability to successfully expand our business domestically and internationally;</FONT></TD></TR>
<TR>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">changes in our pricing policies or those of our competitors;</FONT></TD></TR>
<TR>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">any disruption in, or termination of, our relationship with our insurance carriers or ride sharing companies with which we do business;</FONT></TD></TR>
<TR>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the cost and potential outcomes of future litigation, if any;</FONT></TD></TR>
<TR>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">seasonality in our business;</FONT></TD></TR>
<TR>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">general economic conditions, both domestic and foreign, assuming we expand into foreign markets;</FONT></TD></TR>
<TR>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">future accounting pronouncements or changes in our accounting policies or practices; and</FONT></TD></TR>
<TR>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the amount and timing of operating costs and capital expenditures related to the expansion of our business.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Any
of the above factors, individually or in the aggregate, may result in significant fluctuations in our financial and other operating
results from period to period. As a result of this variability, our historical results of operations should not be relied upon
as an indication of future performance. Moreover, this variability and unpredictability could result in our failure to meet our
operating plan or the expectations of investors or analysts for any period. If we fail to meet such expectations for these or other
reasons, the price of our common stock could fall substantially, and we could face costly lawsuits, including securities class
action suits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><B><I>We have
had operating losses each year and quarterly period since our inception, and may not achieve or maintain profitability in the future.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">We
have incurred operating losses each year and every quarterly period since inception. For the three months ended March 31, 2019
and 2018, our operating losses were $1,728,889, and $1,574,057, respectively. We expect our operating expenses to increase in the
future as we expand our sales and marketing efforts and continue to invest in research and development of our technologies. These
efforts may be costlier than we expect, and we may not be able to increase our revenue to offset our increased operating expenses.
Our revenue growth may slow or our revenue may decline for a number of other reasons, including reduced demand for our services,
increased competition, a decrease in the growth or size of the ride-sharing or car-sharing market or any failure to capitalize
on growth opportunities. Any failure to increase our revenue as we grow our business could prevent us from achieving or maintaining
profitability. If we are unable to meet these risks and challenges as we encounter them, our business, financial condition and
results of operations may suffer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><B><I>We face
intense competition and could lose market share to our competitors, which could adversely affect our business, financial condition
and results of operations.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">The
market for ride-sharing and car-sharing services is intensely competitive and characterized by rapid changes in technology, customer
requirements, industry standards and frequent new service introductions and improvements. We anticipate continued challenges from
current competitors, as well as by new entrants into the industry. If we are unable to anticipate or effectively react to these
competitive challenges, our competitive position could weaken, and we could experience a decline in our growth rate or revenue
that could adversely affect our business and results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><B><I>Changes
in government regulations could have an adverse impact on our business.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Currently, there are
few laws regulating our business, however, as our business matures, this may change. Changes in government regulation of our business
have the potential to materially alter our business practices, or our operational results. Depending on the jurisdiction, those
changes may come about through the issuance of new laws and regulations or changes in the interpretation of existing laws and regulations
by a court, regulatory body or governmental official. Sometimes those changes may have not just prospective but also retroactive
effect; this is particularly true when a change is made through reinterpretation of laws or regulations that have been in effect
for some time. Moreover, changes in regulation that may seem neutral on their face may have either more or less impact on us than
on ride-sharing businesses, depending on the circumstances. Potential changes in law or regulation that may affect us relate to
insurance intermediaries, customer privacy, data security and rate regulation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="background-color: white"><B><I>Uber
and Lyft (and other ride-sharing companies that drivers use in connection with our platform) are subject to numerous legal and
regulatory risks that could have an adverse impact on our business and future prospects.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our platform relies
heavily on the ability of ride-sharing companies, such as Uber and Lyft, to operate legally in jurisdictions in which we provide
our service. Ride-sharing companies are subject to differing, and sometimes conflicting, laws and regulations in the various jurisdictions
in which they operate. A large number of proposals are before various national, regional, and local legislative bodies and regulatory
entities, regarding issues related to their respective business models. Certain proposals, if adopted, could significantly and
materially harm their business, financial condition, and operating results (and, in turn, materially harm our business) by restricting
or limiting how ride-sharing companies operate their businesses, increasing their operating costs, and decreasing their number
of platform users. We cannot predict whether or when such proposals may be adopted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><B><I>Any material
limitation in the fuel supply, or an increase in fuel prices, could adversely affect our business.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Our
operations could be adversely affected by any limitation in the fuel supply, the imposition of any mandatory allocation or rationing
regulations by regulators, and/or an increase in fuel prices. Such a regime could be quickly imposed if there was a serious disruption
in the fuel supply for any reason, including an act of war, terrorist incident or other problem, such as the devastation caused
by hurricane Harvey, affecting the petroleum supply, refining, distribution or pricing. Additionally increased fuel prices and
other costs may disincentivize drivers from using our platform. <FONT STYLE="background-color: white">A decreased supply of drivers
on our platform would decrease our network liquidity, which could harm our business and operating results.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>If our security is compromised or
if our platform is subjected to attacks that frustrate or thwart our users&rsquo; ability to access our products and services,
our users and partners may cut back on or stop using our products and services altogether, which could seriously harm our business.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Our
efforts to protect the information that our users have shared with us may be unsuccessful due to the actions of third parties,
software bugs, or other technical malfunctions, employee error or malfeasance, or other factors. In addition, third parties may
attempt to fraudulently induce employees or users to disclose information to gain access to our data or our users&rsquo; data.
If any of these events occur, our or our users&rsquo; information could be accessed or disclosed improperly. Our privacy policy
governs how we may use and share the information that our users have provided us. Some partners may store information that we share
with them. If these third parties fail to implement adequate data-security practices or fail to comply with our terms and policies,
our users&rsquo; data may be improperly accessed or disclosed. And even if these third parties take all these steps, their networks
may still suffer a breach, which could compromise our users&rsquo; data. Any incidents where our users&rsquo; information is accessed
without authorization, or is improperly used, or incidents that violate our terms of service or policies, could damage our reputation
and our brand and diminish our competitive position. In addition, affected users or government authorities could initiate legal
or regulatory action against us over those incidents, which could cause us to incur significant expense and liability or result
in orders or consent decrees forcing us to modify our business practices. Maintaining the trust of our users is important to sustain
our growth, retention, and user engagement. Concerns over our privacy practices, whether actual or unfounded, could damage our
reputation and brand and deter users, advertisers, and partners from using our products and services. Any of these occurrences
could seriously harm our business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Market and economic conditions may
negatively impact our business, financial condition and share price.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Concerns
over inflation, energy costs, geopolitical issues, the U.S. mortgage market and a declining real estate market, unstable global
credit markets and financial conditions, and volatile oil prices have led to periods of significant economic instability, diminished
liquidity and credit availability, declines in consumer confidence and discretionary spending, diminished expectations for the
global economy and expectations of slower global economic growth going forward, increased unemployment rates, and increased credit
defaults in recent years. Our general business strategy may be adversely affected by any such economic downturns, volatile business
environments and continued unstable or unpredictable economic and market conditions. If these conditions continue to deteriorate
or do not improve, it may make any necessary debt or equity financing more difficult to complete, more costly, and more dilutive.
Failure to secure any necessary financing in a timely manner and on favorable terms could have a material adverse effect on our
growth strategy, financial performance, and share price and could require us to delay or abandon development or commercialization
plans.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Financial reporting obligations of
being a public company in the United States are expensive and time-consuming, and our management will be required to devote substantial
time to compliance matters.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As a publicly traded
company we will incur significant additional legal, accounting and other expenses that we did not incur as a privately company.
The obligations of being a public company in the United States require significant expenditures and will place significant demands
on our management and other personnel, including costs resulting from public company reporting obligations under the Securities
Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;) and the rules and regulations regarding corporate governance
practices, including those under the Sarbanes-Oxley Act of 2002 (&ldquo;Sarbanes-Oxley&rdquo;) the Dodd-Frank Wall Street Reform
and Consumer Protection Act, and the listing requirements of the stock exchange on which our securities are listed. These rules
require the establishment and maintenance of effective disclosure and financial controls and procedures, internal control over
financial reporting and changes in corporate governance practices, among many other complex rules that are often difficult to implement,
monitor and maintain compliance with. Moreover, despite recent reforms made possible by the JOBS Act, the reporting requirements,
rules, and regulations will make some activities more time-consuming and costly, particularly after we are no longer an &ldquo;emerging
growth company.&rdquo; In addition, we expect these rules and regulations to make it more difficult and more expensive for us to
obtain director and officer liability insurance. Our management and other personnel will need to devote a substantial amount of
time to ensure that we comply with all of these requirements and to keep pace with new regulations, otherwise we may fall out of
compliance and risk becoming subject to litigation or being delisted, among other potential problems.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>If we fail to comply with the rules
under Sarbanes-Oxley related to accounting controls and procedures in the future, or, if we discover material weaknesses and other
deficiencies in our internal control and accounting procedures, our stock price could decline significantly and raising capital
could be more difficult.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Section&nbsp;404
of Sarbanes-Oxley requires annual management assessments of the effectiveness of our internal control over financial reporting.
If we fail to comply with the rules under Sarbanes-Oxley related to disclosure controls and procedures in the future, or, if we
discover material weaknesses and other deficiencies in our internal control and accounting procedures, our stock price could decline
significantly and raising capital could be more difficult. If material weaknesses or significant deficiencies are discovered or
if we otherwise fail to achieve and maintain the adequacy of our internal control, we may not be able to ensure that we can conclude
on an ongoing basis that we have effective internal controls over financial reporting in accordance with Section&nbsp;404 of Sarbanes-Oxley.
Moreover, effective internal controls are necessary for us to produce reliable financial reports and are important to helping prevent
financial fraud. If we cannot provide reliable financial reports or prevent fraud, our business and operating results could be
harmed, investors could lose confidence in our reported financial information, and the trading price of our common stock could
drop significantly.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Comprehensive tax reform bills could
adversely affect our business and financial condition.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The U.S. government
recently enacted comprehensive federal income tax legislation that includes significant changes to the taxation of business entities.
These changes include, among others, a permanent reduction to the corporate income tax rate. Notwithstanding the reduction in the
corporate income tax rate, the overall impact of this tax reform is uncertain, and our business and financial condition could be
adversely affected. This Annual Report does not discuss any such tax legislation or the manner in which it might affect purchasers
of our common stock. We urge our shareholders to consult with their legal and tax advisors with respect to any such legislation
and the potential tax consequences of investing in our common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B>Risks Related to Our Common Stock
and this Offering</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>The price of our common stock may fluctuate substantially.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">You should consider
an investment in our common stock to be risky, and you should invest in our common stock only if you can withstand a significant
loss and wide fluctuations in the market value of your investment. Some factors that may cause the market price of our common stock
to fluctuate, in addition to the other risks mentioned in this &ldquo;Risk Factors&rdquo; section and elsewhere in this prospectus,
are:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">sale of our common stock by our shareholders, executives, and directors;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">volatility and limitations in trading volumes of our shares of common stock;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our ability to obtain financings to conduct and complete research and development activities and other business activities;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the timing and success of introductions of new products by us or our competitors or any other change in the competitive dynamics of our industry, including consolidation among competitors;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our ability to attract new customers;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">changes in our capital structure or dividend policy, future issuances of securities, sales of large blocks of common stock by our shareholders;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our cash position;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">announcements and events surrounding financing efforts, including debt and equity securities;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our inability to enter into new markets or develop new products;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">reputational issues;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">announcements of acquisitions, partnerships, collaborations, joint ventures, new products, capital commitments, or other events by us or our competitors;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">changes in general economic, political and market conditions in or any of the regions in which we conduct our business;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">changes in industry conditions or perceptions;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">analyst research reports, recommendation and changes in recommendations, price targets, and withdrawals of coverage;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">departures and additions of key personnel;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">disputes and litigations related to intellectual properties, proprietary rights, and contractual obligations;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">changes in applicable laws, rules, regulations, or accounting practices and other dynamics; and</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">other events or factors, many of which may be out of our control.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, if the
market for stocks in our industry or industries related to our industry, or the stock market in general, experiences a loss of
investor confidence, the trading price of our common stock could decline for reasons unrelated to our business, financial condition
and results of operations. If any of the foregoing occurs, it could cause our stock price to fall and may expose us to lawsuits
that, even if unsuccessful, could be costly to defend and a distraction to management.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>We may acquire other companies or
technologies, which could divert our management&rsquo;s attention, result in dilution to our stockholders and otherwise disrupt
our operations and adversely affect our operating results.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We may in the future
seek to acquire or invest in businesses, applications and services or technologies that we believe could complement or expand our
services, enhance our technical capabilities or otherwise offer growth opportunities. The pursuit of potential acquisitions may
divert the attention of management and cause us to incur various expenses in identifying, investigating and pursuing suitable acquisitions,
whether or not they are consummated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, we do
not have any experience in acquiring other businesses. If we acquire additional businesses, we may not be able to integrate the
acquired personnel, operations and technologies successfully, or effectively manage the combined business following the acquisition.
We also may not achieve the anticipated benefits from the acquired business due to a number of factors, including:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">inability to integrate or benefit from acquired technologies or services in a profitable manner;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">unanticipated costs or liabilities associated with the acquisition;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">difficulty integrating the accounting systems, operations and personnel of the acquired business;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">difficulties and additional expenses associated with supporting legacy products and hosting infrastructure of the acquired business;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">difficulty converting the customers of the acquired business onto our platform and contract terms, including disparities in the revenue, licensing, support or professional services model of the acquired company;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">diversion of management&rsquo;s attention from other business concerns;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">adverse effects to our existing business relationships with business partners and customers as a result of the acquisition;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the potential loss of key employees;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">use of resources that are needed in other parts of our business; and</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">use of substantial portions of our available cash to consummate the acquisition.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, a significant
portion of the purchase price of companies we acquire may be allocated to acquired goodwill and other intangible assets, which
must be assessed for impairment at least annually. In the future, if our acquisitions do not yield expected returns, we may be
required to take charges to our operating results based on this impairment assessment process, which could adversely affect our
results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Acquisitions could
also result in dilutive issuances of equity securities or the incurrence of debt, which could adversely affect our operating results.
In addition, if an acquired business fails to meet our expectations, our operating results, business and financial position may
suffer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>If securities or industry analysts do not publish research
or reports, or publish unfavorable research or reports about our business, our stock price and trading volume may decline.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The trading market
for our common stock will rely in part on the research and reports that industry or financial analysts publish about us, our business,
our markets and our competitors. We do not control these analysts. If securities analysts do not cover our common stock, the lack
of research coverage may adversely affect the market price of our common stock. Furthermore, if one or more of the analysts who
do cover us downgrade our stock or if those analysts issue other unfavorable commentary about us or our business, our stock price
would likely decline. If one or more of these analysts cease coverage of us or fails to regularly publish reports on us, we could
lose visibility in the market and interest in our stock could decrease, which in turn could cause our stock price or trading volume
to decline and may also impair our ability to expand our business with existing customers and attract new customers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Future sales and issuances of our
securities could result in additional dilution of the percentage ownership of our shareholders and could cause our share price
to fall.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We expect that significant
additional capital will be needed in the future to continue our planned operations, including research and development, increased
marketing, hiring new personnel, commercializing our products and services, and continuing activities as an operating public company.
To the extent we raise additional capital by issuing equity securities, our shareholders may experience substantial dilution. We
may sell common stock, convertible securities or other equity securities in one or more transactions at prices and in a manner
we determine from time to time. If we sell common stock, convertible securities or other equity securities in more than one transaction,
investors may be materially diluted by subsequent sales. Such sales may also result in material dilution to our existing shareholders,
and new investors could gain rights superior to our existing shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><B><I>We do not
intend to pay cash dividends on our shares of common stock so any returns will be limited to the value of our shares.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">We
currently anticipate that we will retain future earnings for the development, operation and expansion of our business and do not
anticipate declaring or paying any cash dividends for the foreseeable future. Any return to shareholders will therefore be limited
to the increase, if any, of our share price.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>We are an &ldquo;emerging growth
company&rdquo; and will be able to avail ourselves of reduced disclosure requirements applicable to emerging growth companies,
which could make our common stock less attractive to investors.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are an &ldquo;emerging
growth company,&rdquo; as defined in the Jumpstart Our Business Startups Act of 2012 (the &ldquo;JOBS Act&rdquo;), and we intend
to take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that
are not &ldquo;emerging growth companies&rdquo; including not being required to comply with the auditor attestation requirements
of Section&nbsp;404(b) of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in our periodic
reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation
and shareholder approval of any golden parachute payments not previously approved. In addition, pursuant to Section&nbsp;107 of
the JOBS Act, as an &ldquo;emerging growth company&rdquo; we intend to take advantage of the extended transition period provided
in Section&nbsp;7(a)(2)(B) of the Securities Act, for complying with new or revised accounting standards. In other words, an &ldquo;emerging
growth company&rdquo; can delay the adoption of certain accounting standards until those standards would otherwise apply to private
companies. We cannot predict if investors will find our common stock less attractive because we may rely on these exemptions. If
some investors find our common stock less attractive as a result, there may be a less active trading market for our common stock
and our stock price may be more volatile. We may take advantage of these reporting exemptions until we are no longer an &ldquo;emerging
growth company.&rdquo; We will remain an &ldquo;emerging growth company&rdquo; until the earliest of (i)&nbsp;the last day of the
fiscal year in which we have total annual gross revenues of $1.07&nbsp;billion or more; (ii)&nbsp;the last day of our fiscal year
in 2023; (iii)&nbsp;the date on which we have issued more than $1&nbsp;billion in nonconvertible debt during the previous three
years; or (iv)&nbsp;the date on which we are deemed to be a large accelerated filer under the rules of the U.S. Securities and
Exchange Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Because we have elected to defer
compliance with new or revised accounting standards, our financial statement disclosure may not be comparable to similar companies.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have elected to
use the extended transition period for complying with new or revised accounting standards under Section&nbsp;102(b)(1) of the JOBS
Act. This allows us to delay the adoption of new or revised accounting standards that have different effective dates for public
and private companies until those standards apply to private companies. As a result of our election, our financial statements may
not be comparable to companies that comply with public company effective dates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Because of this extended
transition period, we may be less attractive to investors and it may be difficult for us to raise additional capital as and when
we need it. Investors may be unable to compare our business with other companies in our industry if they believe that our financial
accounting is not as transparent as other companies in our industry. If we are unable to raise additional capital as and when we
need it, our financial condition and results of operations may be materially and adversely affected.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>We may be at risk of securities class
action litigation.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We may be at risk of
securities class action litigation. In the past, technology companies have experienced significant stock price volatility. If we
face such litigation, it could result in substantial costs and a diversion of management&rsquo;s attention and resources, which
could harm our business and results in a decline in the market price of our common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Our common stock may be delisted if we fail to comply
with continued listing standards.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If we fail to meet
any of the continued listing standards of the Nasdaq Capital Market, our common stock could be delisted from the Nasdaq Capital
Market. These continued listing standards include specifically enumerated criteria, such as:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">a $1.00 minimum closing bid price;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">stockholders&rsquo; equity of $2.5&nbsp;million;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">500,000 shares of publicly-held common stock with a market value of at least $1&nbsp;million;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">300 round-lot stockholders; and</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">compliance with Nasdaq&rsquo;s corporate governance requirements, as well as additional or more stringent criteria that may be applied in the exercise of Nasdaq&rsquo;s discretionary authority.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If we fail to comply
with Nasdaq&rsquo;s continued listing standards, we may be delisted and our common stock will trade, if at all, only on the over-the-counter
market, such as the OTCBB or OTCQX markets, and then only if one or more registered broker-dealer market makers comply with quotation
requirements. In addition, delisting of our common stock could depress our stock price, substantially limit liquidity of our common
stock and materially adversely affect our ability to raise capital on terms acceptable to us, or at all. Finally, delisting of
our common stock could result in our common stock becoming a &ldquo;penny stock&rdquo; under the Exchange Act.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Anti-takeover provisions in our charter
documents and under the General Corporation Law of the State of Delaware could make an acquisition of us more difficult and may
prevent attempts by our stockholders to replace or remove our management.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Provisions
in our amended and restated certificate of incorporation and our bylaws may delay or prevent an acquisition of us or a change in
our management. These provisions include a classified board of directors, a prohibition on actions by written consent of our stockholders,
and the ability of the board of directors to issue preferred stock without stockholder approval. In addition, because we are incorporated
in Delaware, we are governed by the provisions of Section&nbsp;203 of the Delaware General Corporation Law, or the DGCL, which
prohibits stockholders owning in excess of 15% of the outstanding combined organization voting stock from merging or combining
with the combined organization. Although we believe these provisions collectively will provide for an opportunity to receive higher
bids by requiring potential acquirers to negotiate with our board of directors, they would apply even if the offer may be considered
beneficial by some stockholders. In addition, these provisions may frustrate or prevent any attempts by our stockholders to replace
or remove then-current management by making it more difficult for stockholders to replace members of the board of directors, which
is responsible for appointing the members of management.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Anti-takeover provisions in our charter
documents could discourage, delay or prevent a change in control of us and may affect the trading price of our common stock.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Our
corporate documents and the DGCL contain provisions that may enable our board of directors to resist a change in control of us
even if a change in control were to be considered favorable by our stockholders. These provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">stagger the terms of our board of directors and require 66 and 2/3% stockholder voting to remove directors, who may only be removed for cause;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">authorize our board of directors to issue &ldquo;blank check&rdquo; preferred stock and to determine the rights and preferences of those shares, which may be senior to our common stock, without prior stockholder approval;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">establish advance notice requirements for nominating directors and proposing matters to be voted on by stockholders at stockholders&rsquo; meetings;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">prohibit our stockholders from calling a special meeting and prohibit stockholders from acting by written consent;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">require 66 and 2/3% stockholder voting to effect certain amendments to our certificate of incorporation and bylaws; and</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">prohibit cumulative voting in the election of directors, which limits the ability of minority stockholders to elect director candidates.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">These
provisions could discourage, delay or prevent a transaction involving a change in control of us. These provisions could&nbsp;also
discourage proxy contests and make it more difficult for stockholders to elect directors of their choosing and cause us to take
other corporate actions our stockholders desire.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Our amended and restated certificate
of incorporation designates the Court of Chancery of the State of Delaware as the sole and exclusive forum for certain types of
actions and proceedings that may be initiated by our stockholders, which could limit our stockholders&rsquo; ability to obtain
a favorable judicial forum for disputes with us or our directors, officers, employees or agents.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our amended and restated
certificate of incorporation provides that, unless we consent in writing to an alternative forum, the Court of Chancery of the
State of Delaware will be the sole and exclusive forum for any derivative action or proceeding brought on our behalf, any action
asserting a claim of breach of a fiduciary duty owed by any of our directors, officers, employees or agents to us or our stockholders,
any action asserting a claim arising pursuant to any provision of the DGCL, our amended and restated certificate of incorporation
or our amended and restated bylaws or any action asserting a claim that is governed by the internal affairs doctrine, in each case
subject to the Court of Chancery having personal jurisdiction over the indispensable parties named as defendants therein and the
claim not being one which is vested in the exclusive jurisdiction of a court or forum other than the Court of Chancery or for which
the Court of Chancery does not have subject matter jurisdiction. T<FONT STYLE="background-color: white">his exclusive forum provision
would not apply to suits brought to enforce any liability or duty created by the Securities Act or the Exchange Act or any other
claim for which the federal courts have exclusive jurisdiction. </FONT>Any person purchasing or otherwise acquiring any interest
in any shares of our common stock shall be deemed to have notice of and to have consented to this provision of our amended and
restated certificate of incorporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This choice of forum
provision may limit our stockholders&rsquo; ability to bring a claim in a judicial forum that it finds favorable for disputes with
us or our directors, officers, employees or agents, which may discourage such lawsuits against us and our directors, officers,
employees and agents even though an action, if successful, might benefit our stockholders. Stockholders who do bring a claim in
the Court of Chancery could face additional litigation costs in pursuing any such claim, particularly if they do not reside in
or near Delaware. The Court of Chancery may also reach different judgments or results than would other courts, including courts
where a stockholder considering an action may be located or would otherwise choose to bring the action, and such judgments or results
may be more favorable to us than to our stockholders. Alternatively, if a court were to find this provision of our amended and
restated certificate of incorporation inapplicable to, or unenforceable in respect of, one or more of the specified types of actions
or proceedings, we may incur additional costs associated with resolving such matters in other jurisdictions, which could have a
material adverse effect on our business, financial condition or results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>We have broad discretion in the use
of the net proceeds from this offering and may not use them effectively. </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our management will
have broad discretion in the application of the net proceeds from this offering and could spend the proceeds in ways that do not
necessarily improve our results of operations or enhance the value of our common stock. Our failure to apply these funds effectively
could have a material adverse effect on our business, financial condition, operating results and cash flow, and could cause the
price of our common stock to decline.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>If you purchase the common stock
sold in this offering, you will experience immediate and substantial dilution in your investment. You will experience further dilution
if we issue additional equity securities in future fundraising transactions. </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Since the price
per share of our common stock being offered is substantially higher than the net tangible book value per share of our common
stock, you will suffer substantial dilution with respect to the net tangible book value of the common stock you purchase in
this offering. After giving effect to our sale of 3,500,000 shares of our common stock in this offering at an assumed public
offering price of $3.35 per share, which was the last reported sale price of
our common stock on the Nasdaq Capital Market on July 12, 2019, and our net tangible book value as of March 31, 2019, if you
purchase shares of common stock in this offering, you will suffer immediate and substantial dilution of $2.37 per share with
respect to the net tangible book value of the common stock. See the section entitled &ldquo;Dilution&rdquo; elsewhere in this
prospectus for a more detailed discussion of the dilution you will incur if you purchase common stock in this offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If we issue additional
common stock, or securities convertible into or exchangeable or exercisable for common stock following the expiration of the&nbsp;lock-up&nbsp;agreements
entered into with the underwriter as described in the section entitled &ldquo;Underwriting&rdquo; elsewhere in this prospectus,
our stockholders, including investors who purchase shares of common stock in this offering, could experience additional dilution,
and any such issuances may result in downward pressure on the price of our common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Future sales of shares by existing
stockholders could cause our stock price to decline. </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Sales of a substantial
number of shares of our common stock in the public market could occur at any time. These sales, or the perception in the market
that the holders of a large number of shares of our common stock intend to sell shares, could reduce the market price of our common
stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of March 31, 2019,
we had outstanding options to purchase an aggregate of 2,378,376 options of our common stock, exercisable at a weighted average
exercise price of $2.44 per share, and outstanding warrants to purchase an aggregate of 510,507 shares of our common stock, all
of which are exercisable at a weighted average exercise price of $3.67 per share. The exercise of such outstanding options and
warrants will result in further dilution of your investment. If our existing stockholders sell substantial amounts of our common
stock in the public market, or if the public perceives that such sales could occur, this could have an adverse impact on the market
price of our common stock, even if there is no relationship between such sales and the performance of our business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><A NAME="a_03"></A><B>SPECIAL NOTE REGARDING FORWARD-LOOKING
STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">This
prospectus contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 27A of the Securities
Act, and Section 21E of the Exchange Act. These statements may be identified by such forward-looking terminology as &ldquo;may,&rdquo;
&ldquo;will,&rdquo; &ldquo;should,&rdquo; &ldquo;expects,&rdquo; &ldquo;intends,&rdquo; &ldquo;plans,&rdquo; &ldquo;anticipates,&rdquo;
&ldquo;believes,&rdquo; &ldquo;estimates,&rdquo; &ldquo;predicts,&rdquo; &ldquo;potential,&rdquo; &ldquo;continue&rdquo; or the
negative of these terms or other comparable terminology. Our forward-looking statements are based on a series of expectations,
assumptions, estimates and projections about our company, are not guarantees of future results or performance and involve substantial
risks and uncertainty. We may not actually achieve the plans, intentions or expectations disclosed in these forward-looking statements.
Actual results or events could differ materially from the plans, intentions and expectations disclosed in these forward-looking
statements. Our business and our forward-looking statements involve substantial known and unknown risks and uncertainties, including
the risks and uncertainties inherent in our statements regarding:</P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our ability to add new customers or increase listings or rentals on our platform;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our ability to expand and train our sales team;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the potential benefits of and our ability to maintain our relationships with ridesharing companies, and establish or maintain future collaborations or strategic relationships or obtain additional funding;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our marketing capabilities and strategy;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our ability to maintain a cost-effective insurance program;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our ability to retain the continued service of our key professionals and to identify, hire and retain additional qualified professionals;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our competitive position, and developments and projections relating to our competitors and our industry;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our estimates regarding expenses, future revenue, capital requirements and needs for additional financing; and</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the impact of laws and regulations.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All of our forward-looking
statements are as of the date of this prospectus only. In each case, actual results may differ materially from such forward-looking
information. We can give no assurance that such expectations or forward-looking statements will prove to be correct. An occurrence
of, or any material adverse change in, one or more of the risk factors or risks and uncertainties referred to in this prospectus
or included in our other public disclosures or our other periodic reports or other documents or filings filed with or furnished
to the U.S. Securities and Exchange Commission could materially and adversely affect our business, prospects, financial condition
and results of operations. Except as required by law, we do not undertake or plan to update or revise any such forward-looking
statements to reflect actual results, changes in plans, assumptions, estimates or projections or other circumstances affecting
such forward-looking statements occurring after the date of this prospectus, even if such results, changes or circumstances make
it clear that any forward-looking information will not be realized. Any public statements or disclosures by us following this prospectus
that modify or impact any of the forward-looking statements contained in this prospectus will be deemed to modify or supersede
such statements in this prospectus.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><A NAME="a_04"></A><B>USE OF PROCEEDS</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We estimate that the net proceeds from our issuance and sale of 3,500,000 shares of our common stock in
this offering will be approximately $10,788,750, assuming an offering price of&thinsp; $3.35 per share, which was the last reported
sale price of our common stock on the Nasdaq Capital Market on July 12, 2019, after deducting the underwriting discount and estimated
offering expenses payable by us. If the underwriter exercises its over-allotment option in full, we estimate that the net proceeds
from this offering will be approximately $12,459,563. The actual offering price per share will be determined between us and the
underwriter at the time of pricing, and may be at a discount to the current market price.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We intend to use the net proceeds to us from this offering for general corporate purposes, including working
capital, sales, customer support, technology and marketing activities, and general and administrative matters.</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This expected use of
net proceeds from this offering represents our intentions based upon our current plans and business conditions. The amounts and
timing of our actual expenditures may vary significantly depending on numerous factors. We may find it necessary or advisable to
use the net proceeds from this offering for other purposes, and we will have broad discretion in the application of net proceeds
from this offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pending our use of
the net proceeds from this offering, we intend to invest the net proceeds in a variety of capital preservation investments, including
short-term, investment-grade, interest-bearing instruments and U.S. government securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><A NAME="a_05"></A><B>DIVIDEND POLICY&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have never declared
or paid any cash dividends on our capital stock. We intend to retain future earnings, if any, to finance the operation and expansion
of our business and do not anticipate paying any cash dividends in the foreseeable future. Any future determination related to
our dividend policy will be made at the discretion of our board of directors after considering our financial condition, results
of operations, capital requirements, business prospects and other factors our board of directors deems relevant.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_06"></A><B>CAPITALIZATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">The
following table sets forth our cash, cash equivalents and short-term investments and capitalization as of March 31, 2019, as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">on an actual basis; and</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">on an as adjusted
basis to give effect to our issuance and sale of&nbsp;3,500,000 shares of common stock in this offering at an assumed public offering
price of $3.35 per share, which was the last reported sale price of our common stock on the Nasdaq Capital Market on&nbsp;July
12, 2019, after deducting the estimated underwriting discount and estimated offering expenses payable by us.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Our
capitalization following the closing of this offering will be adjusted based on the actual offering price and other terms of this
offering determined at pricing. You should read this information in conjunction with our financial statements and the related notes
appearing at the end of this prospectus, the information set forth under the headings &ldquo;Use of Proceeds,&rdquo; &ldquo;Selected
Historical Financial Data&rdquo; and &ldquo;Management&rsquo;s Discussion and Analysis of Financial Condition and Results of Operations&rdquo;
and the other financial information contained in this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">As of March 31, 2019</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Actual</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">As Adjusted</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center">(unaudited)</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">(in thousands, except share and per share data)</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; text-align: left; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt">Cash, cash equivalents and short-term investments</TD><TD STYLE="width: 1%; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 4pt double; text-align: left">$</TD><TD STYLE="width: 9%; border-bottom: Black 4pt double; text-align: right">6,338,871</TD><TD STYLE="width: 1%; padding-bottom: 4pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 4pt double; text-align: left">$</TD><TD STYLE="width: 9%; border-bottom: Black 4pt double; text-align: right">17,127,631</TD><TD STYLE="width: 1%; padding-bottom: 4pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -9pt; padding-left: 9pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Stockholders&rsquo; equity:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -9pt; padding-left: 0.25in">Common stock, par value $0.00001 per share; 50,000,000 shares authorized, 12,191,508 shares issued and outstanding, actual; 50,000,000 shares authorized, 15,691,508 shares issued and outstanding, as adjusted</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">122</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">157</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -9pt; padding-left: 0.25in">Preferred stock, par value $0.00001 per share; 15,000,000 shares authorized, no shares issued and outstanding, actual and as adjusted</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 0.25in">Additional paid-in capital</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">23,064,096</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">33,852,811</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 0.25in">Subscription receivable &ndash; related party</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(7,447</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(7,447</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 0.25in">Accumulated deficit</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">(18,194,355</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">(18,194,355</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 27pt">Total stockholders&rsquo; equity</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">4,862,416</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">15,651,166</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt">Total capitalization</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">4,862,416</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">15,651,166</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">The outstanding historical share information and additional paid-in capital in the table above is based
on 12,191,508 shares of common stock outstanding as of March 31, 2019 and excludes, as of that date, the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; background-color: white"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">93,489 shares of our common stock reserved for future issuance pursuant to outstanding options under our 2016 Equity Incentive Plan;</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,373,700 shares of our common stock reserved for future issuance pursuant to outstanding options and restricted stock units under our 2018 Equity Incentive Plan; and</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">510,507 shares of our common stock issuable upon the exercise of warrants to purchase shares of our common stock outstanding  at a weighted average exercise price of $3.67 per share.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><A NAME="a_07"></A><B>DILUTION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">If
you invest in our common stock in this offering, your ownership interest will be immediately diluted to the extent of the difference
between the public offering price per share and the as adjusted net tangible book value per share of our common stock after this
offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">As
of March 31, 2019, our historical net tangible book value was $4,653,105, or $0.38 per share of our common stock. Net
tangible book value per share represents the book value of our total tangible assets less the book value of our total
liabilities, divided by the number of shares of our common stock outstanding as of March 31, 2019.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">After giving effect to our sale of&nbsp;3,500,000 shares of our common stock in this offering at an assumed
public offering price of $3.35 per share, which was the last reported sale price of our common stock on the Nasdaq Capital Market
on July 12, 2019, and after deducting the estimated underwriting discount and estimated offering expenses payable by us, our as
adjusted net tangible book value as of March 31, 2019 would have been approximately $15.44&nbsp;million, or approximately $0.98&nbsp;per
share. This amount represents an immediate increase in net tangible book value of $0.60&nbsp;per share to our existing stockholders
and an immediate dilution in net tangible book value of approximately $2.37&nbsp;per share to new investors purchasing shares of
our common stock in this offering. We determine dilution by subtracting our as adjusted net tangible book value per share after
this offering from the amount of cash per share of common stock paid by new investors in this offering. The following table illustrates
this dilution:</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 88%">Assumed public offering price per share</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">3.35</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt">Historical net tangible book value per share as of March 31, 2019</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.38</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 9pt">Increase in net tangible book value per share attributable to new investors participating in this offering</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.60</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&#8203;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8203;</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt">As adjusted net tangible book value per share after this offering</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">0.98</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&#8203;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8203;</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt">Dilution per share to new investors in this offering</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">2.37</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Each $1.00 increase (decrease) in the assumed public offering price of $3.35 per share, which was the last
reported sale price of our common stock on the Nasdaq Capital Market on July 12, 2019, would increase (decrease) the as adjusted
net tangible book value per share after this offering by approximately $3,500,000, and dilution per share to new investors by approximately
$0.79, assuming that the number of shares offered by us, as set forth on the cover page of this prospectus, remains the same and
after deducting the estimated underwriting discount and estimated offering expenses payable by us. Each increase (decrease) of
1.0&nbsp;million shares in the number of shares offered by us would increase (decrease) our as adjusted net tangible book value
per share after this offering by approximately $0.13&nbsp;per share and decrease (increase) the dilution to new investors by approximately
($0.13)&nbsp;per share, assuming the assumed public offering price remains the same, and after deducting the estimated underwriting
discount and the estimated offering expenses payable by us.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">The
foregoing tables and calculations are based on the number of shares of our common stock outstanding as of March 31, 2019 and excludes, as of that date, the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; background-color: white">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">93,943 shares of our common stock reserved for future issuance under our 2016 Equity Incentive Plan;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,373,700 shares of our common stock reserved for future issuance under our 2018 Equity Incentive Plan; and</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; background-color: white">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">510,507 shares of our common stock issuable upon the exercise of warrants to purchase shares of our common stock outstanding at a weighted average exercise price of $3.67 per share.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">To
the extent any of the outstanding options or warrants described above are exercised, new options are issued or we issue additional
shares of common stock or other equity or convertible debt securities in the future, there will be further dilution to investors
participating in this offering. If all of the outstanding options and warrants described above had been exercised as of March
31, 2019, the as adjusted net tangible book value per share after this offering would be $1.07, and total dilution per share to
new investors would be $2.28.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_08"></A><B>DESCRIPTION OF CAPITAL STOCK</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>The following descriptions
are summaries of the material terms of our amended and restated certificate of incorporation, which will be effective upon the
closing of this offering and amended and restated bylaws, which will be effective upon the effectiveness of the registration statement
of which this prospectus is a part. The descriptions of the common stock and convertible preferred stock give effect to changes
to our capital structure that will occur immediately prior to the completion of this offering. We refer in this section to our
amended and restated certificate of incorporation as our certificate of incorporation, and we refer to our amended and restated
bylaws as our bylaws.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>General</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our authorized capital
stock will consists of&nbsp;50,000,000 shares of common stock, par value $0.00001 per share, and 15,000,000 shares of preferred
stock, par value $0.00001 per share, of which no shares of preferred stock are designated or issued.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of July 15, 2019, 12,331,348 shares of our common stock were outstanding and held by 28&nbsp;stockholders
of record. The actual number of holders of our common stock is greater than this number of record holders, and includes stockholders
who are beneficial owners, but whose shares are held in street name by brokers or held by other nominees. This number of holders
of record also does not include stockholders whose shares may be held in trust by other entities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Common Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The holders of our
common stock are entitled to one vote for each share held on all matters submitted to a vote of the stockholders. The holders of
our common stock do not have any cumulative voting rights. Holders of our common stock are entitled to receive ratably any dividends
declared by the board of directors out of funds legally available for that purpose, subject to any preferential dividend rights
of any outstanding preferred stock. Our common stock has no preemptive rights, conversion rights or other subscription rights or
redemption or sinking fund provisions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In the event of our
liquidation, dissolution or winding up, holders of our common stock will be entitled to share ratably in all assets remaining after
payment of all debts and other liabilities and any liquidation preference of any outstanding preferred stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Preferred Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our board of directors
has the authority, without further action by our stockholders, to issue up to 15,000,000&nbsp;shares of preferred stock in one
or more series and to fix the rights, preferences, privileges and restrictions thereof. These rights, preferences and privileges
could include dividend rights, conversion rights, voting rights, terms of redemption, liquidation preferences, sinking fund terms
and the number of shares constituting, or the designation of, such series, any or all of which may be greater than the rights of
our common stock. The issuance of our preferred stock could adversely affect the voting power of holders of common stock and the
likelihood that such holders will receive dividend payments and payments upon our liquidation. In addition, the issuance of preferred
stock could have the effect of delaying, deferring or preventing a change in control of our company or other corporate action.
We currently have no plans to issue additional shares of preferred stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Other Warrants</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of the date
of this prospectus, we had outstanding warrants to purchase up to (i) 200,000 shares of common stock at an exercise price
of $2.10 per share; (ii) 60,392 shares of common stock at an exercise price of $2.00 per share; (iii) 28,993 shares of
common stock at an exercise price of $7.50 per share, (iv) 45,522 shares of common stock at an exercise price of $3.19 per
share; (v) 75,600 shares of common stock at an exercise price of $6.25 per share; and (v) 100,000 shares of common stock at
an exercise price of $5.00 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>2016 Equity Incentive Plan</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">An aggregate of
2,227,777 shares of common stock were initially reserved for issuance under our 2016 Equity Incentive Plan. As of March 31,
2019, we had 890,876 shares of common stock issuable upon exercise of outstanding stock options and 93,489 shares of common
stock available for future awards. In connection with the adoption of our 2018 Equity Incentive Plan, no additional awards
will be granted under our 2016 Equity Incentive Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>2018 Equity Incentive Plan</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">An aggregate of 3,000,000
shares of common stock are reserved for issuance under our 2018 Equity Incentive Plan. As of March 31, 2019, there were 1,487,500 shares
issuable upon exercise of outstanding stock options and 1,373,700 shares of common stock available for future awards.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Anti-Takeover Effects of Provisions
of Our Charter Documents</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our certificate of
incorporation provides for our board of directors to be divided into three classes serving staggered terms. Approximately&nbsp;one-third&nbsp;of
the board of directors will be elected each year. The provision for a classified board could prevent a party who acquires control
of a majority of our outstanding voting stock from obtaining control of our board of directors until the second annual stockholders
meeting following the date the acquirer obtains the controlling stock interest. The classified board provision could discourage
a potential acquirer from making a tender offer or otherwise attempting to obtain control of us and could increase the likelihood
that incumbent directors will retain their positions. Our certificate of incorporation provides that directors may be removed with
cause by the affirmative vote of the holders of a majority of the voting power of all of our outstanding stock or without cause
by the affirmative vote of the holders of at least 66 and 2/3% of the voting power of all of our outstanding stock.&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our certificate of
incorporation provides that certain amendments of our certificate of incorporation and amendments by our stockholders of our bylaws
require the approval of at least 66 and 2/3% of the voting power of all of our outstanding stock. These provisions could discourage
a potential acquirer from making a tender offer or otherwise attempting to obtain control of our company and could delay changes
in management.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our certificate of
incorporation also provides that, unless we consent in writing to an alternative forum, the Court of Chancery of the State of Delaware
will be the sole and exclusive forum for any derivative action or proceeding brought on our behalf, any action asserting a claim
of breach of a fiduciary duty owed by any of our directors, officers, employees or agents to us or our stockholders, any action
asserting a claim arising pursuant to any provision of the DGCL, our certificate of incorporation or our bylaws or any action asserting
a claim that is governed by the internal affairs doctrine, in each case subject to the Court of Chancery having personal jurisdiction
over the indispensable parties named as defendants therein and the claim not being one which is vested in the exclusive jurisdiction
of a court or forum other than the Court of Chancery or for which the Court of Chancery does not have subject matter jurisdiction.
<FONT STYLE="background-color: white">This exclusive forum provision would not apply to suits brought to enforce any liability
or duty created by the Securities Act or the Exchange Act or any other claim for which the federal courts have exclusive jurisdiction.
</FONT>This forum selection provision may limit our stockholders&rsquo; ability to bring a claim in a judicial forum that they
find favorable for disputes with us or our directors, officers, employees or agents, which may discourage such lawsuits against
us and our directors, officers, employees and agents even though an action, if successful, might benefit our stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our bylaws establish
an advance notice procedure for stockholder proposals to be brought before an annual meeting of our stockholders, including proposed
nominations of persons for election to our board of directors. At an annual meeting, stockholders may only consider proposals or
nominations specified in the notice of meeting or brought before the meeting by or at the direction of our board of directors.
Stockholders may also consider a proposal or nomination by a person who was a stockholder at the time of giving notice and at the
time of the meeting, who is entitled to vote at the meeting and who has complied with the notice requirements of our bylaws in
all respects. The bylaws do not give our board of directors the power to approve or disapprove stockholder nominations of candidates
or proposals regarding other business to be conducted at a special or annual meeting of our stockholders. However, our bylaws may
have the effect of precluding the conduct of certain business at a meeting if the proper procedures are not followed. These provisions
may also discourage or deter a potential acquirer from conducting a solicitation of proxies to elect the acquirer&rsquo;s own slate
of directors or otherwise attempting to obtain control of our company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our bylaws provide
that a special meeting of our stockholders may be called only by our Secretary and at the direction of our board of directors by
resolution adopted by a majority of our board of directors. Because our stockholders do not have the right to call a special meeting,
a stockholder could not force stockholder consideration of a proposal over the opposition of our board of directors by calling
a special meeting of stockholders prior to such time as a majority of our board of directors, the chairperson of our board of directors,
the president or the chief executive officer believed the matter should be considered or until the next annual meeting<I>&nbsp;provided</I>&nbsp;that
the requestor met the notice requirements. The restriction on the ability of stockholders to call a special meeting means that
a proposal to replace our board of directors also could be delayed until the next annual meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our bylaws do not allow
our stockholders to act by written consent without a meeting. Without the availability of stockholder action by written consent,
a holder controlling a majority of our capital stock would not be able to amend our bylaws or remove directors without holding
a stockholders&rsquo; meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Anti-Takeover Effects of Delaware Law</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are subject to the
provisions of Section&nbsp;203 of the DGCL, or Section&nbsp;203. Under Section&nbsp;203, we would generally be prohibited from
engaging in any business combination with any interested stockholder for a period of three years following the time that this stockholder
became an interested stockholder unless:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">prior to this time, our board of directors approved either the business combination or the transaction that resulted in the stockholder becoming an interested stockholder;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">upon consummation of the transaction that resulted in the stockholder becoming an interested stockholder, the interested stockholder owned at least 85% of our voting stock outstanding at the time the transaction commenced, excluding shares owned by persons who are directors and also officers, and by employee stock plans in which employee participants do not have the right to determine confidentially whether shares held subject to the plan will be tendered in a tender or exchange offer; or</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">at or subsequent to such time, the business combination is approved by our board of directors and authorized at an annual or special meeting of stockholders, and not by written consent, by the affirmative vote of at least 66 and 2/3% of the outstanding voting stock that is not owned by the interested stockholder.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Under Section&nbsp;203,
a &ldquo;business combination&rdquo; includes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">any merger or consolidation involving the corporation and the interested stockholder;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">any sale, transfer, pledge or other disposition of 10% or more of the assets of the corporation involving the interested stockholder;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">any transaction that results in the issuance or transfer by the corporation of any stock of the corporation to the interested stockholder, subject to limited exceptions;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">any transaction involving the corporation that has the effect of increasing the proportionate share of the stock of any class or series of the corporation beneficially owned by the interested stockholder; or</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the receipt by the interested stockholder of the benefit of any loans, advances, guarantees, pledges or other financial benefits provided by or through the corporation.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In general, Section&nbsp;203
defines an interested stockholder as an entity or person beneficially owning 15% or more of the outstanding voting stock of the
corporation and any entity or person affiliated with or controlling or controlled by such entity or person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Transfer Agent and Registrar</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our transfer agent
and registrar is VStock&nbsp;Transfer, LLC whose address is 18 Lafayette Place, Woodmere, NY 11598.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10pt; text-indent: -10pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Listing</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10pt; text-indent: -10pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our common stock is listed on the Nasdaq
Capital Market under the symbol &ldquo;HYRE.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B><A NAME="a_09"></A>UNDERWRITING</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are offering
the shares of common stock described in this prospectus through the underwriter listed below. Northland Securities, Inc. is
acting as the sole book-running manager of this offering. The underwriter named below has agreed to buy, subject to the terms
of the underwriting agreement, the number of shares of common stock listed opposite its name below. The underwriter is
committed to purchase and pay for all of the shares if any are purchased, other than the shares covered by the over-allotment
option described below unless and until this option is exercised.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1.5pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Underwriter</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Number of</B></FONT><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Shares</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="width: 89%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Northland Securities, Inc.</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="width: 8%; border-bottom: black 1.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 4.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4.5pt double; text-align: right">3,500,000</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The underwriter has
advised us that it proposes to offer the shares of common stock to the public at a price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per
share. The underwriter proposes to offer the shares of common stock to certain dealers at the same price less a concession of not
more than $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share. After the offering, these figures may be changed by the underwriter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The shares sold in
this offering are expected to be ready for delivery against payment in immediately available funds on or about &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
2019, subject to customary closing conditions. The underwriter may reject all or part of any order.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have granted to
the underwriter an option to purchase up to an additional 525,000 shares
of our common stock from us at the same price to the public, and with the same underwriting discount, as set forth in the table
below. The underwriter may exercise this option any time during the 30-day period after the date of this prospectus, but only to
cover over-allotments, if any. To the extent the underwriter exercises the option, the underwriter will become obligated, subject
to certain conditions, to purchase the securities for which they exercise the option.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The underwriting discount
is equal to the public offering price per share of common stock, less the amount paid by the underwriter to us per share. The following
table shows the per share and total underwriting discount to be paid by us to the underwriter in this offering, assuming both no
exercise and full exercise of the over-allotment option. In addition to the underwriting discount, we have agreed to pay up to $150,000 of the fees and expenses
of the underwriter, which may include the fees and expenses of counsel to the underwriter. The fees and expenses of the underwriter
that we have agreed to reimburse are not included in the underwriting discount set forth in the table below. The underwriting discount
and reimbursable expenses the underwriter will receive were determined through arms&rsquo; length negotiations between us and the
underwriter<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Per Share</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1.5pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Total with</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>No Over-Allotment</B></P></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Total with</B></FONT><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Over-Allotment</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="width: 67%; padding-left: 1.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Underwriting discount to be paid by us</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 8%; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 8%; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 8%; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We estimate that the total expenses of this offering, excluding the underwriting discount, will be approximately
$350,000. This includes $150,000 of fees and expenses of the underwriter. In accordance with FINRA Rule 5110, this reimbursement
fee described in the preceding sentence is deemed underwriting compensation for this offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have also agreed
to indemnify the underwriter against certain liabilities, including civil liabilities under the Securities Act or to contribute
to payments that the underwriter may be required to make in respect of those liabilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We also
have agreed that, subject to certain qualifications, at any time prior to or within 12 months of the closing of this
offering, if we undertake any public offering or public placement of securities, we will offer Northland Securities, Inc. the
right to serve as exclusive placement agent (in the case of a private offering) or lead-bookrunner (in the case of a public
offering) in such offering. If Northland Securities, Inc. agrees to act in such capacity, we will enter into an appropriate
form of separate agreement containing customary terms and conditions to be mutually agreed upon. This right to serve is
neither an expressed nor an implied commitment by Northland Securities, Inc. to act in any capacity in any such transaction
or to purchase any securities in connection therewith, which commitment will only be set forth in a separate agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Except as disclosed
in this prospectus, the underwriter has not received, and will not receive, from us any other item of compensation or expense
in connection with this offering considered by FINRA to be underwriting compensation under its rule of fair price. The underwriting
discount was determined through an arms&rsquo; length negotiation between us and the underwriter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>No Sales of Similar Securities</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We and each of
our directors and executive officers have agreed not to offer, sell, agree to sell, directly or indirectly, or otherwise
dispose of any shares of common stock or any securities convertible into or exchangeable for shares of common stock without
the prior written consent of Northland Securities, Inc. for a period of 90 days after the date of the final prospectus.
These&nbsp;lock-up&nbsp;agreements provide limited exceptions and their restrictions may be waived at any time by Northland Securities, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Price Stabilization, Short Positions
and Penalty Bids</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">To facilitate this
offering, the underwriter may engage in transactions that stabilize, maintain or otherwise affect the price of our common stock
during and after the offering. Specifically, the underwriter may over-allot or otherwise create a short position in our common
stock for their own account by selling more shares of common stock than we have sold to the underwriter. The underwriter may close
out any short position by either exercising their option to purchase additional shares or purchasing shares in the open market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, the underwriter
may stabilize or maintain the price of our common stock by bidding for or purchasing shares in the open market and may impose penalty
bids. If penalty bids are imposed, selling concessions allowed to broker-dealers participating in this offering are reclaimed if
shares previously distributed in this offering are repurchased, whether in connection with stabilization transactions or otherwise.
The effect of these transactions may be to stabilize or maintain the market price of our common stock at a level above that which
might otherwise prevail in the open market. The imposition of a penalty bid may also affect the price of our common stock to the
extent that it discourages resales of our common stock. The magnitude or effect of any stabilization or other transactions is uncertain.
These transactions may be effected on the Nasdaq Capital Market or otherwise and, if commenced, may be discontinued at any time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In connection with
this offering, the underwriter and selling group members, if any, may also engage in passive market making transactions in our
common stock on the Nasdaq Capital Market. Passive market making consists of displaying bids on the Nasdaq Capital Market by the
prices of independent market makers and effecting purchases limited by those prices in response to order flow. Rule&nbsp;103 of
Regulation&nbsp;M promulgated by the SEC limits the amount of net purchases that each passive market maker may make and the displayed
size of each bid. Passive market making may stabilize the market price of our common stock at a level above that which might otherwise
prevail in the open market and, if commenced, may be discontinued at any time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Neither we nor the
underwriter make any representation or prediction as to the direction or magnitude of any effect that the transactions described
above may have on the price of our common stock. In addition, neither we nor the underwriter make any representation that the underwriter
will engage in these transactions or that any transaction, if commenced, will not be discontinued without notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Affiliations</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The underwriter and
its respective affiliates are full service financial institutions engaged in various activities, which may include securities trading,
commercial and investment banking, financial advisory, investment management, investment research, principal investment, hedging,
financing and brokerage activities. The underwriter may in the future engage in investment banking and other commercial dealings
in the ordinary course of business with us or our affiliates. The underwriter may in the future receive customary fees and commissions
for these transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In the ordinary course
of their various business activities, the underwriter and its respective affiliates may make or hold a broad array of investments
and actively trade debt and equity securities (or related derivative securities) and financial instruments (including bank loans)
for their own account and for the accounts of their customers, and such investment and securities activities may involve securities
and/or instruments of the issuer. The underwriter and its respective affiliates may also make investment recommendations and/or
publish or express independent research views in respect of such securities or instruments and may at any time hold, or recommend
to clients that they acquire, long and/or short positions in such securities and instruments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Electronic Offer, Sale and Distribution</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In connection with
this offering, the underwriter or certain of the securities dealers may distribute prospectuses by electronic means, such as&nbsp;e-mail.&nbsp;In
addition, the underwriter may facilitate Internet distribution for this offering to certain of their internet subscription customers.
The underwriter may allocate a limited number of shares for sale to their online brokerage customers. An electronic prospectus
is available on the Internet websites maintained by any such underwriter. Other than the prospectus in electronic format, the information
on the websites of the underwriter are not part of this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Listing</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The shares are listed
on the Nasdaq Capital Market under the symbol &ldquo;HYRE.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Selling Restrictions</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Canada</I></B>.
The securities may be sold in Canada only to purchasers purchasing, or deemed to be purchasing, as principal that are accredited
investors, as defined in National Instrument 45 106&nbsp;<I>Prospectus Exemptions</I>&nbsp;or subsection 73.3(1) of the Securities
Act (Ontario), and are permitted clients, as defined in National Instrument 31 103&nbsp;<I>Registration Requirements, Exemptions
and Ongoing Registrant Obligations</I>. Any resale of the securities must be made in accordance with an exemption from, or in a
transaction not subject to, the prospectus requirements of applicable securities laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Securities legislation
in certain provinces or territories of Canada may provide a purchaser with remedies for rescission or damages if this prospectus
(including any amendment thereto) contains a misrepresentation, provided that the remedies for rescission or damages are exercised
by the purchaser within the time limit prescribed by the securities legislation of the purchaser&rsquo;s province or territory.
The purchaser should refer to any applicable provisions of the securities legislation of the purchaser&rsquo;s province or territory
for particulars of these rights or consult with a legal advisor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to section
3A.3 of National Instrument 33 105&nbsp;<I>Underwriting Conflicts</I>&nbsp;(NI 33 105), the underwriter is not required to comply
with the disclosure requirements of NI 33 105 regarding underwriter conflicts of interest in connection with this offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>European Economic
Area</I></B>.&nbsp;In relation to each Member State of the European Economic Area which has implemented the Prospectus Directive
(each, a &ldquo;Relevant Member State&rdquo;) an offer to the public of any shares of our common stock may not be made in that
Relevant Member State, except that an offer to the public in that Relevant Member State of any shares of our common stock may be
made at any time under the following exemptions under the Prospectus Directive, if they have been implemented in that Relevant
Member State:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">to any legal entity which is a qualified investor as defined in the Prospectus Directive;</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">to fewer than 100 or, if the Relevant Member State has implemented the relevant provision of the 2010 PD Amending Directive, 150, natural or legal persons (other than qualified investors as defined in the Prospectus Directive), as permitted under the Prospectus Directive, subject to obtaining the prior consent of the representatives for any such offer; or</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">in any other circumstances falling within Article 3(2) of the Prospectus Directive, provided that no such offer of shares of our common stock shall result in a requirement for the publication by us or any underwriter of a prospectus pursuant to Article 3 of the Prospectus Directive.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the purposes of
this provision, the expression an &ldquo;offer to the public&rdquo; in relation to any shares of our common stock in any Relevant
Member State means the communication in any form and by any means of sufficient information on the terms of the offer and any shares
of our common stock to be offered so as to enable an investor to decide to purchase any shares of our common stock, as the same
may be varied in that Member State by any measure implementing the Prospectus Directive in that Member State, the expression &ldquo;Prospectus
Directive&rdquo; means Directive 2003/71/EC (and amendments thereto, including the 2010 PD Amending Directive, to the extent implemented
in the Relevant Member State), and includes any relevant implementing measure in the Relevant Member State, and the expression
&ldquo;2010 PD Amending Directive&rdquo; means Directive 2010/73/EU.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>United Kingdom</I></B>.&nbsp;The
underwriter has represented and agreed that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">it has only communicated or caused to be communicated and will only communicate or cause to be communicated an invitation or inducement to engage in investment activity (within the meaning of Section&nbsp;21 of the Financial Services and Markets Act 2000 (the &ldquo;FSMA&rdquo;)) received by it in connection with the issue or sale of the shares of our common stock in circumstances in which Section&nbsp;21(1) of the FSMA does not apply to us; and</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">it has complied and will comply with all applicable provisions of the FSMA with respect to anything done by it in relation to the shares of our common stock in, from or otherwise involving the United Kingdom.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Switzerland</I></B>.<B><I>&nbsp;</I></B>The
shares may not be publicly offered in Switzerland and will not be listed on the SIX Swiss Exchange (the &ldquo;SIX&rdquo;) or on
any other stock exchange or regulated trading facility in Switzerland. This document has been prepared without regard to the disclosure
standards for issuance prospectuses under art. 652a or art. 1156 of the Swiss Code of Obligations or the disclosure standards for
listing prospectuses under art. 27 ff. of the SIX Listing Rules or the listing rules of any other stock exchange or regulated trading
facility in Switzerland. Neither this document nor any other offering or marketing material relating to the shares or the offering
may be publicly distributed or otherwise made publicly available in Switzerland.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Neither this document
nor any other offering or marketing material relating to the offering, or the shares have been or will be filed with or approved
by any Swiss regulatory authority. In particular, this document will not be filed with, and the offer of shares will not be supervised
by, the Swiss Financial Market Supervisory Authority FINMA, and the offer of shares has not been and will not be authorized under
the Swiss Federal Act on Collective Investment Schemes (&ldquo;CISA&rdquo;). Accordingly, no public distribution, offering or advertising,
as defined in CISA, its implementing ordinances and notices, and no distribution to any&nbsp;non-qualified&nbsp;investor, as defined
in CISA, its implementing ordinances and notices, shall be undertaken in or from Switzerland, and the investor protection afforded
to acquirers of interests in collective investment schemes under CISA does not extend to acquirers of shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Australia</I></B>.<B><I>&nbsp;</I></B>No
placement document, prospectus, product disclosure statement or other disclosure document has been lodged with the Australian Securities
and Investments Commission (&ldquo;ASIC&rdquo;), in relation to the offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This prospectus does
not constitute a prospectus, product disclosure statement or other disclosure document under the Corporations Act 2001 (the &ldquo;Corporations
Act&rdquo;), and does not purport to include the information required for a prospectus, product disclosure statement or other disclosure
document under the Corporations Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Any offer in Australia
of the shares may only be made to persons (the &ldquo;Exempt Investors&rdquo;) who are &ldquo;sophisticated investors&rdquo; (within
the meaning of section 708(8) of the Corporations Act), &ldquo;professional investors&rdquo; (within the meaning of section 708(11)
of the Corporations Act) or otherwise pursuant to one or more exemptions contained in section 708 of the Corporations Act so that
it is lawful to offer the shares without disclosure to investors under Chapter 6D of the Corporations Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The shares applied
for by Exempt Investors in Australia must not be offered for sale in Australia in the period of 12 months after the date of allotment
under the offering, except in circumstances where disclosure to investors under Chapter 6D of the Corporations Act would not be
required pursuant to an exemption under section 708 of the Corporations Act or otherwise or where the offer is pursuant to a disclosure
document which complies with Chapter 6D of the Corporations Act. Any person acquiring shares must observe such Australian&nbsp;on-sale&nbsp;restrictions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This prospectus contains
general information only and does not take account of the investment objectives, financial situation or particular needs of any
particular person. It does not contain any securities recommendations or financial product advice. Before making an investment
decision, investors need to consider whether the information in this prospectus is appropriate to their needs, objectives and circumstances,
and, if necessary, seek expert advice on those matters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Israel</I></B>.&nbsp;In
the State of Israel this prospectus shall not be regarded as an offer to the public to purchase securities under the Israeli Securities
Law, 5728 - 1968, which requires a prospectus to be published and authorized by the Israel Securities Authority, if it complies
with certain provisions of Section&nbsp;15 of the Israeli Securities Law, 5728 - 1968, including, inter alia, if: (i)&nbsp;the
offer is made, distributed or directed to not more than 35 investors, subject to certain conditions, or the Addressed Investors;
or (ii)&nbsp;the offer is made, distributed or directed to certain qualified investors defined in the First Addendum of the Israeli
Securities Law, 5728 - 1968, subject to certain conditions, or the Qualified Investors. The Qualified Investors shall not be taken
into account in the count of the Addressed Investors and may be offered to purchase securities in addition to the 35 Addressed
Investors. Our company has not and will not take any action that would require it to publish a prospectus in accordance with and
subject to the Israeli Securities Law, 5728 - 1968. We have not and will not distribute this prospectus or make, distribute or
direct an offer to subscribe for our securities to any person within the State of Israel, other than to Qualified Investors and
up to 35 Addressed Investors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Qualified Investors
may have to submit written evidence that they meet the definitions set out in of the First Addendum to the Israeli Securities Law,
5728 - 1968. In particular, we may request, as a condition to be offered securities, that Qualified Investors will each represent,
warrant and certify to us or to anyone acting on our behalf: (i)&nbsp;that it is an investor falling within one of the categories
listed in the First Addendum to the Israeli Securities Law, 5728 - 1968; (ii) which of the categories listed in the First Addendum
to the Israeli Securities Law, 5728 - 1968 regarding Qualified Investors is applicable to it; (iii)&nbsp;that it will abide by
all provisions set forth in the Israeli Securities Law, 5728 - 1968 and the regulations promulgated thereunder in connection with
the offer to be issued securities; (iv)&nbsp;that the securities that it will be issued are, subject to exemptions available under
the Israeli Securities Law, 5728 - 1968: (a) for its own account; (b)&nbsp;for investment purposes only; and (c)&nbsp;not issued
with a view to resale within the State of Israel, other than in accordance with the provisions of the Israeli Securities Law, 5728
- 1968; and (v)&nbsp;that it is willing to provide further evidence of its Qualified Investor status. Addressed Investors may have
to submit written evidence in respect of their identity and may have to sign and submit a declaration containing, inter alia, the
Addressed Investor&rsquo;s name, address and passport number or Israeli identification number.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_10"></A><B>LEGAL MATTERS&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The validity of the
shares of our common stock offered hereby will be passed upon for us by Sheppard, Mullin, Richter &amp; Hampton&nbsp;LLP, New York,
New York. Certain legal matters will be passed upon for the underwriter by Faegre Baker Daniels&nbsp;LLP, Minneapolis, Minnesota.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_11"></A><B>EXPERTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our financial statements
as of December&nbsp;31, 2018 and 2017 appearing in this prospectus and the registration statement, of which it forms&nbsp;a part,
have been audited by dbb<I>mckennon</I>, independent registered public accounting firm, as set forth in their report thereon appearing
elsewhere herein, and are included in reliance on such report given on the authority of such firm as experts in accounting and
auditing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_12"></A><B>WHERE YOU CAN FIND MORE INFORMATION&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This prospectus, which
constitutes a part of the registration statement on Form S-1 that we have filed with the SEC under the Securities Act, does not
contain all of the information in the registration statement and its exhibits. For further information with respect to us and the
common stock offered by this prospectus, you should refer to the registration statement and the exhibits filed as part of that
document. Statements contained in this prospectus as to the contents of any contract or any other document referred to are not
necessarily complete, and in each instance, we refer you to the copy of the contract or other document filed as an exhibit to the
registration statement. Each of these statements is qualified in all respects by this reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are subject to the
reporting requirements of the Exchange Act and file annual, quarterly and current reports, proxy statements and other information
with the SEC. You can read our SEC filings, including the registration statement, over the Internet at the SEC&rsquo;s website
at&nbsp;<I>http://www.sec.gov</I>. We also maintain a website at&nbsp;<I>http://www.hyrecar.com</I>, at which you may access these
materials free of charge as soon as reasonably practicable after they are electronically filed with, or furnished to, the SEC.
The information contained in, or that can be accessed through, our website is not part of this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 14pt"><B>3,500,000
Shares</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><IMG SRC="img_001.jpg" ALT=""><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 12pt"><B>HyreCar&nbsp;Inc.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 14pt"><B>Common
Stock</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>PROSPECTUS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 14pt"><B>Northland
Capital Markets</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
2019</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Part&nbsp;II</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>INFORMATION NOT REQUIRED IN PROSPECTUS&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item&nbsp;13.&nbsp;&nbsp;&nbsp;&nbsp;Other Expenses of Issuance
and Distribution.&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following table
indicates the expenses to be incurred in connection with the offering described in this registration statement, other than underwriting
discount, all of which will be paid by us. All amounts are estimated except the Securities and Exchange Commission registration
fee, the Financial Industry Regulatory Authority,&nbsp;Inc., or FINRA, filing fee and the Nasdaq listing fee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Amount</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 88%; text-align: left; text-indent: -10pt; padding-left: 10pt">SEC registration fee</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">1,620</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">FINRA filing fee</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,750</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Accounting fees and expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">50,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Legal fees and expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">125,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Underwriter legal fees and expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">150,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Transfer Agent&rsquo;s fees and expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,500</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Printing and engraving expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; padding-bottom: 1.5pt">Miscellaneous</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1.5pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1.5pt solid">8,130</TD><TD STYLE="text-align: left; padding-bottom: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 4pt; text-indent: -10pt; padding-left: 10pt">Total Expenses</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">350,000</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item&nbsp;14.&nbsp;&nbsp;&nbsp;&nbsp;Indemnification of Directors
and Officers.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Registrant is governed
by the Delaware General Corporation Law, or DGCL. Section&nbsp;145 of the DGCL provides that a corporation may indemnify any person,
including an officer or director, who was or is, or is threatened to be made, a party to any threatened, pending or completed legal
action, suit or proceeding, whether civil, criminal, administrative or investigative (other than an action by or in the right of
such corporation), by reason of the fact that such person was or is an officer, director, employee or agent of such corporation
or is or was serving at the request of such corporation as a director, officer, employee or agent of another corporation or enterprise.
The indemnity may include expenses (including attorneys&rsquo; fees), judgments, fines and amounts paid in settlement actually
and reasonably incurred by such person in connection with such action, suit or proceeding, provided such officer, director, employee
or agent acted in good faith and in a manner such person reasonably believed to be in, or not opposed to, the corporation&rsquo;s
best interest and, for criminal proceedings, had no reasonable cause to believe that such person&rsquo;s conduct was unlawful.
A Delaware corporation may indemnify any person, including an officer or director, who was or is, or is threatened to be made,
a party to any threatened, pending or contemplated action or suit by or in the right of such corporation, under the same conditions,
except that such indemnification is limited to expenses (including attorneys&rsquo; fees) actually and reasonably incurred by such
person, and except that no indemnification is permitted without judicial approval if such person is adjudged to be liable to such
corporation. Where an officer or director of a corporation is successful, on the merits or otherwise, in the defense of any action,
suit or proceeding referred to above, or any claim, issue or matter therein, the corporation must indemnify that person against
the expenses (including attorneys&rsquo; fees) which such officer or director actually and reasonably incurred in connection therewith.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Registrant&rsquo;s
amended and restated bylaws authorize the indemnification of its officers and directors, consistent with Section&nbsp;145 of the
DGCL.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Reference is made to
Section&nbsp;102(b)(7) of the DGCL, which enables a corporation in its original certificate of incorporation or an amendment thereto
to eliminate or limit the personal liability of a director for violations of the director&rsquo;s fiduciary duty, except (i)&nbsp;for
any breach of the director&rsquo;s duty of loyalty to the corporation or its stockholders, (ii)&nbsp;for acts or omissions not
in good faith or which involve intentional misconduct or a knowing violation of law, (iii)&nbsp;pursuant to Section&nbsp;174 of
the DGCL, which provides for liability of directors for unlawful payments of dividends of unlawful stock purchase or redemptions
or (iv)&nbsp;for any transaction from which a director derived an improper personal benefit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have entered into
indemnification agreements with each of our directors and officers. These indemnification agreements may require us, among other
things, to indemnify our directors and officers for some expenses, including attorneys&rsquo; fees, judgments, fines and settlement
amounts incurred by a director or officer in any action or proceeding arising out of his or her service as one of our directors
or officers, or any of our subsidiaries or any other company or enterprise to which the person provides services at our request.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We maintain a general
liability insurance policy that covers certain liabilities of directors and officers of our corporation arising out of claims based
on acts or omissions in their capacities as directors or officers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In any underwriting
agreement we enter into in connection with the sale of common stock being registered hereby, the underwriter will agree to indemnify,
under certain conditions, us, our directors, our officers and persons who control us within the meaning of the Securities Act against
certain liabilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item&nbsp;15.&nbsp;&nbsp;&nbsp;&nbsp;Recent Sales of Unregistered
Securities.&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Set forth below is information regarding
all unregistered securities sold by us within the past three years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>1. Sales of Convertible Promissory Notes
and Warrants</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">From June 2016 to September 2016, the company issued and sold convertible promissory notes to a total of 13 investors for an aggregate principal amount of $500,000.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In April 2017 and May 2017, the company issued and sold promissory notes to three investors for an aggregate principal amount of $350,000 and issued warrants to purchase up to 200,000 shares of common stock at an exercise price of $2.10 per share.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Between
                                    January 2018 and April 2018, the company issued and sold senior secured convertible promissory notes to 10 accredited
                                    investors for an aggregate principal amount of $3,046,281 and issued warrants to purchase up to 50% of the shares receivable
                                    upon conversion of such notes at an exercise price equal to one-hundred and twenty-five percent (125%) of the conversion
                                    price of such notes. </FONT>The notes provided that the principal and all accrued and unpaid interest on the notes were
                                    convertible into shares of common stock at a conversion rate equal to the lesser of $2.5480 per share or seventy percent
                                    (70%) of the IPO price per share. Upon pricing the IPO, at the option of the holders, all outstanding principal plus accrued
                                    interest underlying the 2018 Convertible Notes was converted into 1,231,165 shares of common stock at a conversion rate of
                                    $2.5480. <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The company also agreed to issue the
                                    placement agent for this offering, non-callable five year warrants to purchase&nbsp;up to 119,556&nbsp;shares of common
                                    stock, which is equal to ten percent (10%) of the aggregate number of shares of common stock issuable upon conversion of the
                                    principal amount of the senior secured convertible promissory notes, at an exercise price of $2.80 per share. Certain
                                    brokers who are dually-registered with third-party broker/dealer and the representative have forfeited their warrants to
                                    purchase an aggregate of 104,101 shares of common stock.</FONT></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>2. Preferred Stock Issuances</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">From August 2016 to February 2017, the company issued and sold 1,407,671 shares of Series Seed 1 Convertible Preferred Stock to one accredited investor at a purchase price of $0.71 per share.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In February 2017, the convertible promissory notes issued between June 2016 and September 2016 were converted into 943,908 shares of Series Seed 1 Convertible Preferred Stock and an additional 78,059 shares were issued as advisor shares.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In June 2018, in connection with our IPO, all of our outstanding preferred stock converted into 2,429,638 shares of our common stock.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I></I></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>3. 2016 Equity Incentive Plan-Related
Issuances</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">From April 2016 to October 2017, the company granted its directors, officers, employees, consultants and other service providers options to purchase 1,021,171 shares of common stock with per share exercise prices ranging from $0.71 to $1.75 under the 2016 Equity Incentive Plan.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In February 2018, the company granted its directors, officers, employees, consultants and other service providers options to purchase 320,000 shares of common stock at a per share exercise price of $1.75 under the 2016 Equity Incentive Plan.</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>4. 2018 Equity Incentive Plan-Related
Issuances</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">From June 2018 to July October 2018, the company granted to its directors and officers options to purchase 512,500 shares of common stock with a per share exercise prices ranging from $2.21 to $5.00 under the 2018 Equity Incentive Plan.</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In January 2019, the company granted its directors and officers options to purchase 975,000 shares of common stock with a per share exercise prices of $3.20 under the 2018 Equity Incentive Plan.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>5. Other Common Stock Issuances</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On or near November 24, 2014, the company issued 4,346,882 shares of common stock to its four founders subject to vesting over a period of four years. In 2016 and 2015, a total of 624,865 and 1,005,217 shares were forfeited by founders due a settlement, termination, or as agreed upon. On August 27, 2016, the company eliminated any additional vesting terms and all shares held at such time by founders were deemed vested.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Since September
    2016, the company issued 1,032,387 shares of restricted common stock to a director, officers and an employee that vest as
    follows: 33% upon a sale of securities for gross proceeds of at least $250,000 in one or more transactions and the remaining
    67% vest monthly over three years, becoming fully vested in April 2019. For consideration of these shares, the related
    parties entered into note agreements totaling $138,700 that call for the principal and interest to be paid back in ten years
    from the date of the loan. The notes bear interest at 1%. The loans are secured by the related shares of common stock. On May
    31, 2018, an aggregate of $131,400 in principal was repaid and terminated along with accrued interest thereon. The remaining
    balance of $7,447 is outstanding to a related party that is not serving as an officer or director of the Company. If any
    portion of the shares held by the related party are forfeited, the pro-rata portion of the note will be relieved.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">From June 2017 to November 2017, the company issued and sold 1,236,588 shares of common stock to 68 accredited investors at a purchase price of $1.75 per share. In connection with this financing, the company issued to the placement agent a warrant to purchase up to 123,659 shares of common stock at an exercise price equal to $2.00 per share. On June 22, 2018, such warrants were amended to (i) decrease the amount of shares that can be purchased at an exercise price of $2.00 per share to 60,392 shares of common stock and (ii) reduce the remaining 63,267 shares to 28,993 shares at a modified exercise price of $7.50 per share due to the fact that they were earned&nbsp;<FONT STYLE="background-color: white">180 days immediately preceding the required filing date of the registration statement</FONT>.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In February 2018, the company issued 264,285 restricted shares of common stock to three consultants for services pursuant to a consulting agreement with each consultant. This restricted stock shall vest upon a qualified financing event, defined in each agreement as a financing of $10,000,000, on or before December 31, 2018. If a qualified financing event does not occur on or before December 31, 2018, all stock is forfeited.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 1, 2018, the Company agreed to issue a warrant to purchase 100,000 shares of common stock to a consultant for services to be rendered, which warrant is exercisable for a period of five years at an exercise price per share equal to $5.00 per share. </FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In June 15, 2018,
    the company agreed to issue 10,000 shares of common stock to a consultant for services pursuant to a consulting agreement
    upon consummation of the company&rsquo;s initial public offering.&nbsp;&nbsp;In addition, subject to the achievement of
    certain company milestones based on gross billings, average daily active rentals or the company&rsquo;s market
    capitalization, the consultant may be issued up to an additional 825,000 shares of common stock; provided; however, that if
    the company sells all or substantially all of its assets or equity representing 50% or more of the voting power of the
    company, then any shares not previously issued will be issued upon the closing of such transaction.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 2018, the Company agreed to issue a warrant to purchase 150,000 shares of common stock to a consultant for services to be rendered. The warrant is exercisable for a period of three years at an exercise price per share equal to the offering price in the IPO, which was $5.00 per share.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In January 2019, we issued 10,000 shares of our common stock to a consultant of the Company in consideration of services to be provided.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In March 2019, we issued 443,467 shares of our common stock upon the exercise of outstanding warrants.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In April 2019, we issued 100,000 shares of our common stock to a service provider of the Company in consideration of services to be provided.</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In June 2019, we issued 5,000 shares of our common stock to a consultant of the Company in consideration of services to be provided.</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Unless otherwise stated,
the issuances of the above securities were deemed to be exempt from registration under the Securities Act in reliance upon Section&nbsp;4(a)(2)
of the Securities Act or Regulation&nbsp;D promulgated thereunder, or Rule&nbsp;701 promulgated under Section&nbsp;3(b) of the
Securities Act as transactions by an issuer not involving any public offering or pursuant to benefit plans and contracts relating
to compensation as provided under Rule&nbsp;701. Individuals who purchased securities as described above represented their intention
to acquire the securities for investment only and not with a view to or for sale in connection with any distribution thereof, and
appropriate legends were affixed to the share certificates issued in such transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item&nbsp;16.&nbsp;&nbsp;&nbsp;&nbsp;Exhibits and Financial
Statement Schedules.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 29px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibits.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 9%; font-family: Times New Roman, Times, Serif; text-align: left; border-bottom: Black 1.5pt solid; padding: 0; vertical-align: bottom; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit
    Number</B></FONT></TD>
    <TD STYLE="width: 1%; padding: 0; text-align: left; vertical-align: bottom; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 90%; font-family: Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid; padding: 0; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.1*</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="fs12019ex1-1_hyrecar.htm">Form of Underwriting Agreement</A></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.1</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1713832/000121390018006777/fs12018ex3-5_hyrecarinc.htm">Amended and Restated Certificate of Incorporation (incorporated by reference to the Registrant&rsquo;s Registration Statement on Form S-1 (File No. 333-225157)</A></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.2</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1713832/000121390018006777/fs12018ex3-7_hyrecarinc.htm">Amended and Restated Bylaws (incorporated by reference to the Registrant&rsquo;s Registration Statement on Form S-1 (File No. 333-225157)</A></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.1</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1713832/000121390018006777/fs12018ex3-7_hyrecarinc.htm">Specimen Stock Certificate evidencing the shares of common stock (incorporated by reference to the Registrant&rsquo;s Registration Statement on Form S-1 (File No. 333-225157)</A></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.1</FONT>**</TD>
    <TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opinion
    of Sheppard, Mullin, Richter &amp; Hampton LLP</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.1+</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1713832/000121390018006777/fs12018ex10-1_hyrecarinc.htm">Employment Agreement between the Company and Joseph Furnari (incorporated by reference to the Registrant&rsquo;s Registration Statement on Form S-1/A (File No. 333-225157)</A></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.2+</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1713832/000121390018006777/fs12018ex10-2_hyrecarinc.htm">Employment Agreement between the Company and Michael Furnari (incorporated by reference to the Registrant&rsquo;s Registration Statement on Form S-1/A (File No. 333-225157)</A></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.3+</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1713832/000121390018006777/fs12018ex10-3_hyrecarinc.htm" STYLE="-sec-extract: exhibit">Oral Employment Arrangement between the Company and Abhishek Arora (incorporated by reference to the Registrant&rsquo;s Registration Statement on Form S-1/A (File No. 333-225157)</A></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.4+</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1713832/000121390018006777/fs12018ex10-6_hyrecarinc.htm" STYLE="-sec-extract: exhibit">2016 Equity Incentive Plan and forms of award agreements thereunder (incorporated by reference to the Registrant&rsquo;s Registration Statement on Form S-1/A (File No. 333-225157)</A></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.5+</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1713832/000121390018006777/fs12018ex10-7_hyrecarinc.htm" STYLE="-sec-extract: exhibit">2018 Equity Incentive Plan and forms of award agreements thereunder (incorporated by reference to the Registrant&rsquo;s Registration Statement on Form S-8 (File No. 333-229222)</A></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23.1*</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; padding: 0; text-indent: 0"><A HREF="fs12019ex23-1_hyrecar.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent
    of dbb<I>mckennon</I></FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23.2**</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent
    of Opinion of Sheppard, Mullin, Richter &amp; Hampton LLP (included in Exhibit 5.1)</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">24.1</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; padding: 0; text-indent: 0"><A HREF="#sig"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Power of Attorney (included on signature page)</FONT></A></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 29px; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filed herewith</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 29px; text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">**</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To be filed by amendment.</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 29px; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">+</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicates a management contract or compensatory plan or arrangement</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 29px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">Financial Statement Schedules. Schedules not listed above have been omitted because the information required to be set forth therein is not applicable or is shown in the financial statements or notes thereto.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item&nbsp;17.&nbsp;&nbsp;&nbsp;&nbsp;Undertakings.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; background-color: white">(a)
The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933,
each filing of the registrant&rsquo;s annual report pursuant to section 13(a) or section 15(d) of the Securities Exchange Act of
1934 (and, where applicable, each filing of an employee benefit plan&rsquo;s annual report pursuant to section 15(d) of the Securities
Exchange Act of 1934) that is incorporated by reference in the registration statement shall be deemed to be a new registration
statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the
initial bona fide offering thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">(b) Insofar as indemnification
for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the
registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities
and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable.
In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred
or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding)
is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant
will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed
by the final adjudication of such issue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">(c) The undersigned
hereby undertakes that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">(1) For purposes of determining
any liability under the Securities Act, the information omitted from the form of prospectus filed as part of this registration
statement in reliance upon Rule&nbsp;430A and contained in a form of prospectus filed by the registrant pursuant to Rule&nbsp;424(b)(1)
or (4)&nbsp;or 497(h) under the Securities Act shall be deemed to be part of this registration statement as of the time it was
declared effective.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">(2) For the purpose of determining
any liability under the Securities Act, each post-effective amendment that contains a form of prospectus shall be deemed to be
a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall
be deemed to be the initial bona fide offering thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="sig"></A>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the
requirements of the Securities Act, the registrant has duly caused this registration statement to be signed on its behalf by
the undersigned, thereunto duly authorized, in the City of Los Angeles, State of California, on this
16th day of July, 2019.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>HYRECAR INC.</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 36%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid">/s/ <FONT STYLE="font: 10pt Times New Roman, Times, Serif">Joseph Furnari</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Joseph Furnari</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Executive Officer</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES AND POWER OF ATTORNEY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each of the undersigned
officers and directors of HyreCar&nbsp;Inc. hereby constitutes and appoints Joseph Furnari and Scott Brogi, and each of them, either
of whom may act without joinder of the other, the individual&rsquo;s true and lawful attorneys-in-fact and agents, each with full
power of substitution and resubstitution, for the person and in his or her name, place and stead, in any and all capacities, to
sign this registration statement of HyreCar&nbsp;Inc. on Form&nbsp;S-1, and any other registration statement relating to the same
offering (including any registration statement, or amendment thereto, that is to become effective upon filing pursuant to Rule&nbsp;462(b)
under the Securities Act of 1933, as amended), and any and all amendments thereto (including post-effective amendments to the registration
statement), and to file the same, with all exhibits thereto, and all other documents in connection therewith, with the Securities
and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and
perform each and every act and thing requisite and necessary to be done in connection therewith, as fully to all intents and purposes
as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or any of
them, or their substitute or substitutes, may lawfully do or cause to be done by virtue hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities held and
on the dates indicated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%; border-bottom: black 1.5pt solid; padding-right: 0.8pt; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Signature</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 38%; border-bottom: black 1.5pt solid; padding-right: 0.8pt; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Title</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 20%; border-bottom: black 1.5pt solid; padding-right: 0.8pt; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Date</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="padding-right: 0.8pt; font-family: Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid; padding-right: 0.8pt; font-family: Times New Roman, Times, Serif; text-align: left">/s/
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Joseph Furnari</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Executive Officer and Director</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">July
    16, 2019</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Joseph
    Furnari</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Principal
    Executive Officer)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="padding-right: 0.8pt; font-family: Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid; padding-right: 0.8pt; font-family: Times New Roman, Times, Serif; text-align: left">/s/
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Scott Brogi</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Financial Officer</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">July
    16, 2019</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="padding-right: 0.8pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Scott
    Brogi</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Principal Financial
    and Accounting Officer)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="padding-right: 0.8pt; font-family: Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid; padding-right: 0.8pt; font-family: Times New Roman, Times, Serif; text-align: left">/s/
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Grace Mellis</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chairman
    of the Board of Directors</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">July
    16, 2019</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="padding-right: 0.8pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Grace
    Mellis</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="padding-right: 0.8pt; font-family: Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid; padding-right: 0.8pt; font-family: Times New Roman, Times, Serif; text-align: left">/s/
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Michael Root</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">July
    16, 2019</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="padding-right: 0.8pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Michael
    Root</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="padding-right: 0.8pt; font-family: Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid; padding-right: 0.8pt; font-family: Times New Roman, Times, Serif; text-align: left">/s/
Brooke Skinner Ricketts</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">July
    16, 2019</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="padding-right: 0.8pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Brooke
    Skinner Ricketts</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="padding-right: 0.8pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid; padding-right: 0.8pt; font-family: Times New Roman, Times, Serif; text-align: left">/s/
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jayaprakash Vijayan</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">July
    16, 2019</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="padding-right: 0.8pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jayaprakash
    Vijayan</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">II-6</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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{"company-data": {"conformed-name": "HyreCar Inc.", "cik": "0001713832", "assigned-sic": "7510", "irs-number": "472480487", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-1", "act": "33", "file-number": "333-232676", "film-number": "19957757"}, "business-address": {"street1": "355 SOUTH GRAND AVENUE", "street2": "SUITE 1650", "city": "LOS ANGELES", "state": "CA", "zip": "90071", "phone": "(888) 688-6769"}, "mail-address": {"street1": "355 SOUTH GRAND AVENUE", "street2": "SUITE 1650", "city": "LOS ANGELES", "state": "CA", "zip": "90071"}}
As filed with the Securities and Exchange
Commission on July 16, 2019
Registration No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-1
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
HyreCar Inc.
(Exact name of Registrant as specified in
its charter)
Delaware
7510
47-2480487
(State or other jurisdiction of
incorporation or organization)
(Primary Standard Industrial
Classification Code Number)
(I.R.S. Employer
Identification Number)
355 South Grand Avenue, Suite 1650
Los Angeles, CA 90071
(888) 688-6769
(Address, including zip code, and telephone number, including area code, of Registrant's principal executive offices)
Joseph Furnari
Chief Executive Officer
355 South Grand Avenue, Suite 1650
Los Angeles, CA 90071
(888) 688-6769
(Name, address, including zip code, and
telephone number, including area code, of agent for service)
Copies to:
Richard A. Friedman
Alexander T. Yarbrough
Sheppard, Mullin, Richter & Hampton
        LLP
30 Rockefeller Plaza
New York, NY 10112
Telephone: (212) 653-8700
Jonathan R. Zimmerman
Ben A. Stacke
Faegre Baker Daniels LLP
90 S. Seventh Street, Suite 2200
Minneapolis, MN 55402
Telephone: (612) 766-7000
Approximate date of commencement of proposed
sale to the public:
As soon as practicable after the effective
date of this registration statement.
If any of the securities being registered
on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933 check the
following box: ☐
If this Form is filed to register additional
securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities
Act registration statement number of the earlier effective registration statement for the same offering. ☐
If this Form is a post-effective amendment
filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement
number of the earlier effective registration statement for the same offering. ☐
If this Form is a post-effective amendment
filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement
number of the earlier effective registration statement for the same offering. ☐
Indicate by check mark whether the registrant
is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company.
See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company,"
and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large accelerated filer
☐
Accelerated filer
☐
Non-accelerated filer
☒
Smaller reporting company
☒
Emerging growth company
☒
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided to Section 7(a)(2)(B) of the Securities Act. ☐
CALCULATION
OF REGISTRATION FEE
Title of Each Class of
Securities to be Registered
Proposed Maximum
Aggregate Offering
Price
(1)
Amount of
Registration
    Fee
(2)
Common stock, par value $0.00001 per share
$
13,363,000
$
1,619.60
(1)
Estimated
solely for the purpose of computing the amount of the registration fee pursuant to Rule 457(o) under the Securities Act of 1933,
as amended. Includes shares of common stock that the underwriter has the option to purchase to cover over-allotments, if any.
(2)
Calculated
pursuant to Rule 457(o) under the under the Securities Act of 1933, as amended, based on an estimate of the proposed maximum aggregate
offering price of the securities registered hereunder to be sold by the registrant.
The registrant hereby
amends this registration statement on such date or dates as may be necessary to delay its effective date until the registrant shall
file a further amendment which specifically states that this registration statement shall thereafter become effective in accordance
with Section 8(a) of the Securities Act of 1933 or until the registration statement shall become effective on such date as
the Securities and Exchange Commission, acting pursuant to said Section 8(a), may determine.
The information
in this prospectus is not complete and may be changed. These securities may not be sold until the registration statement filed
with the Securities and Exchange Commission is declared effective. This prospectus is not an offer to sell nor does it seek an
offer to buy these securities in any state where the offer or sale is not permitted
PRELIMINARY PROSPECTUS
SUBJECT TO
COMPLETION, DATED JULY 16, 2019
3,500,000 Shares
HyreCar Inc.
Common
Stock
We are offering 3,500,000
shares of our common stock, assuming a public offering price of $3.35 per share, the last reported sale price of our common stock
as reported on the Nasdaq Capital Market on July 12, 2019. Our common stock is listed on the Nasdaq Capital Market under the symbol
"HYRE."
We are an "emerging
growth company" as that term is used in the Jumpstart Our Business Startups Act of 2012, or the JOBS Act, and, as such, elect
to comply with certain reduced public company reporting requirements for future filings. See "Prospectus Summary—Implications
of Being an Emerging Growth Company."
Investing in
our securities involves a high degree of risk. You should review carefully the risks and uncertainties described under the
heading "Risk Factors" beginning on page  5 of this prospectus, and under similar headings in any amendments or
supplements to this prospectus.
Neither the Securities
and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this
prospectus is truthful or complete. Any representation to the contrary is a criminal offense.
Per Share
Total
Public offering price
$
$
Underwriting discount
(1)
$
$
Proceeds, before expenses, to us
(2)
$
$
(1)
We refer you to "Underwriting" for additional information regarding underwriting compensation.
(2)
We estimate that total expenses payable by us, excluding the underwriting discount, will be approximately $350,000.
We have granted
the underwriter a 30-day option to purchase up to 525,000 additional shares of common stock from us at the public offering
price, less the underwriting discount, to cover over-allotments, if any, assuming a public offering price of $3.35 per share, the last reported sale price of our common stock
as reported on the Nasdaq Capital Market on July 12, 2019.
The underwriter expects
to deliver the shares to investors on or about             , 2019,
subject to customary closing conditions.
Sole Book-Running Manager
Northland
Capital Markets
The date of this prospectus is             ,
2019
INCORPORATION OF CERTAIN INFORMATION
BY REFERENCE
The Securities and
Exchange Commission (the "SEC") allows us to "incorporate by reference" information that we file with them.
Incorporation by reference allows us to disclose important information to you by referring you to those other documents. The information
incorporated by reference is an important part of this prospectus, and information that we file later with the SEC will automatically
update and supersede this information. We filed a registration statement on Form S-1, of which this prospectus forms a part,
under the Securities Act of 1933, as amended (the "Securities Act"), with the SEC with respect to the securities being
offered pursuant to this prospectus. This prospectus omits certain information contained in the registration statement, as permitted
by the SEC. You should refer to the registration statement, including the exhibits, for further information about us and the securities
being offered pursuant to this prospectus. Statements in this prospectus regarding the provisions of certain documents filed with,
or incorporated by reference in, the registration statement are not necessarily complete and each statement is qualified in all
respects by that reference. Copies of all or any part of the registration statement, including the documents incorporated by reference
or the exhibits, may be obtained upon payment of the prescribed rates at the offices of the SEC listed above in "Where You
Can Find More Information." We are incorporating by reference the documents listed below, which we have already filed with
the SEC, and all documents subsequently filed by us pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Securities
Exchange Act of 1934, as amended (the "Exchange Act"), except as to any portion of any future report or document that
is not deemed filed under such provisions:
1.
The Company's Annual Report on
Form 10-K
and
10-K/A
for the year ended December 31, 2018, filed with the SEC on March 28, 2019 and April 30, 2019, respectively;
2.
The Company's Quarterly Report on
Form 10-Q
for the fiscal quarter ended March 31, 2018 filed with the SEC on May 10, 2019;
3.
The Company's Current Reports on Form 8-K (other than Current Reports furnished
                                                                                  under Item 2.02 or Item 7.01 of Form 8-K and exhibits filed on such form that are related to such items) filed with the
                                                                                  SEC on
January 15,
                                                                                  2019
,
March 18,
                                                                                  2019
,
May 1,
                                                                                  2019
, and
June 28,
                                                                                  2019
;
4.
The Company's definitive Proxy Statement on
Schedule 14A
, filed with the SEC on May 23, 2019; and
5.
The description of the Company's common stock
contained in the registration statement on
Form 8-A
filed with the SEC on June 26, 2018, including any amendment or report filed
for the purpose of updating that description.
Any statement contained
in this prospectus or in a document incorporated or deemed to be incorporated by reference into this prospectus will be deemed
to be modified or superseded to the extent that a statement contained in this prospectus or any subsequently filed document that
is deemed to be incorporated by reference into this prospectus modifies or supersedes the statement.
You may request, and
we will provide you with, a copy of these filings, at no cost, by calling us at (888) 688-6769 or by writing to us at the following
address:
HyreCar Inc.
355 South Grand Avenue, Suite 1650
Los Angeles, CA 90071
Attn.: Secretary
TABLE OF CONTENTS
Page
Prospectus Summary
1
Risk Factors
5
Special Note Regarding Forward-Looking Statements
17
Use of Proceeds
18
Dividend Policy
18
Capitalization
19
Dilution
20
Description of Capital Stock
21
Underwriting
24
Legal Matters
28
Experts
28
Where You Can Find More Information
28
About this Prospectus
You should rely
only on the information contained in, or incorporated by reference into, this prospectus. Neither we nor the Underwriter have authorized
anyone to provide any information or to make any representations other than those contained in this prospectus or in any free writing
prospectus prepared by or on behalf of us or to which we have referred you. We take no responsibility for, and can provide no assurance
as to the reliability of, any other information that others may give to you. The information contained in, or incorporated by reference
into, this prospectus is accurate only as of the date of this prospectus, regardless of the time of delivery of this prospectus
or any sale of our common stock.
For investors outside
of the United States: We has not, and the underwriter have not, done anything that would permit this offering, or possession or
distribution of this prospectus, in any jurisdiction where action for that purpose is required, other than the United States. Persons
outside of the United States who come into possession of this prospectus must inform themselves about, and observe any restrictions
relating to, this offering of shares of our common stock and the distribution of this prospectus outside of the United States.
See "Underwriting" for additional information on these restrictions.
Industry and Market Data
Certain industry data
and market data included in this prospectus were obtained from independent third-party surveys, market research, publicly available
information, reports of governmental agencies and industry publications and surveys. All of management's estimates presented
herein are based upon management's review of independent third-party surveys and industry publications prepared by a number
of sources and other publicly available information. All of the market data used in this prospectus involves a number of assumptions
and limitations, and you are cautioned not to give undue weight to such estimates. We believe that the information from these industry
publications and surveys included in this prospectus is reliable. The industry in which we operate is subject to a high degree
of uncertainty and risk due to a variety of factors, including those described in the section titled "Risk Factors."
These and other factors could cause results to differ materially from those expressed in the estimates made by the independent
parties and by us.
Trademarks
This prospectus contains
references to our trademarks and service marks and to those belonging to other entities. Solely for convenience, trademarks and
trade names referred to in this prospectus may appear without the ® or TM symbols, but such references
are not intended to indicate, in any way, that we will not assert, to the fullest extent possible under applicable law, our rights
or the rights of the applicable licensor to these trademarks and trade names. We do not intend our use or display of other companies'
trade names, trademarks or service marks to imply a relationship with, or endorsement or sponsorship of us by any other companies.
PROSPECTUS SUMMARY
This summary highlights
information contained elsewhere in this prospectus. This summary does not contain all of the information you should consider before
investing in our common stock. You should read this entire prospectus, including the "Risk Factors" section, the financial
statements and related notes and the other more detailed information appearing elsewhere or incorporated by reference into this
prospectus.
Unless the context
requires otherwise, references to "HyreCar," the "Company," "we," "us," and "our,"
refer to HyreCar Inc.
Overview
HyreCar Inc. was formed
as a corporation in the State of Delaware on November 24, 2014. Our founders identified the need for a car-sharing marketplace
for individuals who wanted to drive for ride-sharing companies such as Uber Technologies Inc. ("Uber") and Lyft, Inc.
("Lyft"), but whose automobiles could not meet the standards imposed by the ride-sharing companies. For example, Uber
maintains strict guidelines regarding the types of cars a driver can use. Although guidelines relating to cars can differ by state,
in general the use of two door coupes, motorcycles and cars that are 12 years or older are excluded. Our founders, before deciding
to purchase qualifying sedans that met Uber's strict guidelines, first inquired as to whether there were any rental options
available from Uber that would allow them to drive for the ride-sharing platform. To their surprise, there were no rental options
available, other than a shadow industry of individuals renting cars to one another.
HyreCar is a unique
peer-to-peer car-sharing marketplace that allows car owners (collectively, "Owners") to rent their idle cars to ride-sharing
service drivers (collectively, "Drivers"). By sourcing vehicles from Owners, part-time Drivers may easily
enter and exit the market and our business model allows us to satisfy fluctuating transportation demand in cities around the United
States by matching Owners and Drivers.
Our business is based
on a proprietary car-sharing marketplace developed to (i) onboard Owners and Drivers, (ii) facilitate the matching of Owners and
Drivers and (iii) log rental activity for Owners and Drivers. All transactions related to the rental (including, but not limited
to, background checks, rentals, deposits and insurance costs) are run securely through the HyreCar platform. Drivers and Owners
access their rental or car dashboards through a unique login. Drivers can easily initiate, terminate or extend a rental through
the platform while Owners can manage their car or fleet of cars through the platform.
We believe we have
a competitive advantage with our commercial automobile insurance policy that covers both Owners and Drivers. The policy is specifically
designed to cover the period of time in which a Driver is operating an Owner's vehicle while not actively operating a vehicle
on a ride-sharing platform, such as Uber or Lyft. During the periods when Drivers are actively operating on a ride-sharing platform,
the insurance subordinates to the state mandated insurance provided by the ride-sharing business. To our knowledge, we are the
only provider of this car-sharing marketplace which is made possible by this unique insurance product.
To date, the majority
of our sales growth has been through organic search traffic. Going forward however, we intend to significantly increase our spending
on marketing because we believe that online channels and offline brand awareness advertising will provide substantial opportunities
for growth.
Industry and Market Opportunities
Our company was founded
to capitalize on a combination of two growth markets: ride-sharing (an industry led by Uber and Lyft) and car-sharing (an industry
led by companies such as Car2go N.A., LLC, ZipCar, Inc. and Turo, Inc). Our customers are the Drivers that use our car-sharing
marketplace to rent a car and then use that car to make money driving for either Uber or Lyft. Finding enough cars and drivers
to meet demand has been a problem for ride-sharing companies.
The transportation
industry represents a massive market. In the United States alone, consumer expenditures on transportation were approximately $1.2
trillion in 2017, and transportation was the second largest household expenditure after housing and was almost twice as large
as healthcare and three times as large as entertainment. We believe we are still in the very early phases of capturing this
massive opportunity. In 2016, ridesharing accounted for just one percent of the vehicle miles traveled in the United States and
in a 2016 survey, 57% of U.S. respondents who used sharing services said that well-priced and convenient offerings could cause
them to give up ownership altogether.
-
1
-
We believe that we
are the only peer-to-peer car-sharing marketplace focused on the ride-sharing industry in the United States. During the years ended
December 31, 2018 and 2017, we added approximately 7,600 and 4,400 new Drivers, respectively, into cars so that they could drive
for Uber and Lyft. These numbers represent an equivalent 73.0% growth rate in new drivers onto the HyreCar platform year over year.
Recent Developments
We are in the process
of preparing our results for our fiscal quarter ended June 30, 2019. Based on currently available information, we estimate that,
for the second fiscal quarter:
●
Total revenue will be in the range of approximately $3.7 million to $3.9 million for the second fiscal quarter of 2019; and
●
Adjusted EBITDA will be in the range of approximately ($1.1) million to ($1.5) million for the second fiscal quarter of 2019.
Please note that EBITDA
is not a measure of net income as determined by GAAP. EBITDA is a supplemental non-GAAP financial measure that is used by management
and external users of our consolidated financial statements, such as industry analysts, investors, lenders and rating agencies.
We define Adjusted EBITDA as net income before interest income, interest expense, income tax and depreciation and amortization
and non-cash items such as stock based compensation.
This unaudited
preliminary financial information for the fiscal quarter ended June 30, 2019 is based upon our estimates and subject to
completion of our quarter end financial results. Moreover, this data has been prepared solely on the basis of currently
available information by, and is the responsibility of, management. The unaudited preliminary financial information for the
fiscal quarter ended June 30, 2019 has not been reviewed or audited by our independent public accounting firm in accordance
with PCAOB standards. This preliminary financial information is not a comprehensive statement of our financial results for
this period, and our actual results may differ materially from these estimates due to the completion of our financial closing
procedures, final adjustments, and other developments that may arise between now and the time the closing procedures for the
fiscal quarter are completed. Therefore, you should not place undue reliance upon these preliminary financial results. There
can be no assurance that these estimates will be realized, and estimates are subject to risks and uncertainties, many of
which are not within our control. Accordingly, total revenue and Adjusted EBITDA and for any particular period may not be
indicative of future results. See "Cautionary Note Regarding Forward-Looking Statements."
Implications of Being an Emerging Growth
Company
We
are an "emerging growth company" as defined in the Jumpstart Our Business Startups Act of 2012, or the JOBS Act.
Section 107
of the JOBS Act also provides that an emerging growth company can take advantage of the extended transition period provided in
Section 13(a) of the Securities Exchange Act of 1934, as amended, or the Exchange Act, for complying with new or revised accounting
standards. In other words, an emerging growth company can delay the adoption of certain accounting standards until those standards
would otherwise apply to private companies. We have elected to avail ourselves of this exemption and, as a result, our financial
statements may not be comparable to the financial statements of issuers who are required to comply with the effective dates for
new or revised accounting standards that are applicable to public companies. Section 107 of the JOBS Act provides that we
can elect to opt out of the extended transition period at any time, which election is irrevocable.
We
will remain an emerging growth company until the earliest of: (i) the last day of the first fiscal year in which our annual
gross revenues exceed $1.07 billion; (ii) the last day of our fiscal year in 2023; (iii) the date that we become
a "large accelerated filer" as defined in Rule 12b-2 under the Exchange Act, which would occur if the market value
of our common equity held by non-affiliates exceeds $700 million as of the last business day of our most recently completed
second fiscal quarter; or (iv) the date on which we have issued more than $1.0 billion in non-convertible debt securities
during any three-year period.
Corporate Information
We were incorporated
in the State of Delaware on November 24, 2014. Our principal executive offices and mailing address are 355 South Grand Avenue,
Suite 1650, Los Angeles, California 90071. Our main telephone number is (888) 688-6769. Our corporate website address is: www.hyrecar.com.
The information contained on, or that can be accessed through, our website is not a part of this prospectus and should not be relied
upon with respect to this offering.
HyreCar, the HyreCar logo and any other current or future trademarks, service marks and trade names appearing
in this prospectus are the property of HyreCar Inc. Other trademarks and trade names referred to in this prospectus are the property
of their respective owners. Solely for convenience, the trademarks and trade names in this prospectus are referred to without
the symbols ® and ™, but such references should not be construed as any indicator that their respective owners will
not assert, to the fullest extent under applicable law, their rights thereto.
-
2
-
THE OFFERING
Common stock offered by us
3,500,000 shares, assuming a public offering price of $3.35 per share, the last reported sale price of our common stock
as reported on the Nasdaq capital Market on July 12, 2019.
Common stock to be outstanding immediately after this offering
(1)
15,831,348 shares (16,356,348 shares if the underwriter exercises its option to purchase additional shares
in full).
Underwriter's over-allotment option
The underwriter has
    a 30-day option to purchase up to 525,000 additional shares of our common stock to cover over-allotments, if any.
Use of proceeds
We estimate the net proceeds to us from this offering, after deducting the underwriting discount
                                    and                                     estimated offering expenses payable by us, will be approximately $10,788,750 (or
                                    $12,459,563 if the underwriter's option to purchase additional shares is exercised in full), assuming a public offering
                                    price of                                     $3.35 per share, the last reported sale price of our common stock on the Nasdaq
                                    Capital Market on July 12, 2019. The actual                                     offering price per share will be as
                                    determined between us and the underwriter at the time of pricing, and may be at a
                                    discount to the current market price. We intend to use the net proceeds to us from this offering for general corporate
                                    purposes, including working capital, sales, customer support, technology and marketing activities, and general and
                                    administrative matters. See "Use of Proceeds" for more information.
Nasdaq Capital Market symbol
"HYRE."
Risk factors
This investment involves a high degree of risk. You should read the description of risks set forth under "Risk Factors" of this prospectus for a discussion of factors to consider before deciding to invest in shares of our common stock.
(1)
The number of shares of common stock outstanding that will be outstanding after this offering is based on
12,331,348 shares of our common stock outstanding as of July 15, 2019 and excludes:
●
93,489 shares of our common stock available for future issuance pursuant to outstanding options under our 2016 Equity Incentive Plan;
●
1,373,700 shares of our common stock available for future issuance pursuant to outstanding options and restricted stock units under our 2018 Equity Incentive Plan; and
●
510,507 shares of our common stock underlying any outstanding warrants.
Unless otherwise indicated,
all information in this prospectus assumes:
●
no exercise of the outstanding options or warrants described above; and
●
no exercise by the
    underwriter of its option to purchase up to an additional 525,000 shares of our common stock to cover over-allotments, if
    any.
-
3
-
SUMMARY
FINANCIAL DATA
The
following table sets forth our summary financial data as of the dates and for the periods indicated. We have derived the statement
of operations data for the years ended December 31, 2018 and 2017 from our audited financial statements included in our most
recent Annual Report on
Form
10-K
, which was filed with the SEC on March 28, 2019, which is incorporated herein by reference. The statements of
operations data for the three months ended March 31, 2019 and 2018, and the balance sheet data as of March 31, 2019 have been
derived from our unaudited condensed financial statements included our Quarterly Report on
Form
10-Q
, which was filed with the SEC on May 10, 2019, which is incorporated herein by reference. The following summary
financial data should be read with "Management's Discussion and Analysis of Financial Condition and Results of Operations"
described in our most recent Annual Report on Form 10-K. Our historical results are not necessarily indicative of the results
to be expected in future periods.
Statement
of Operations Data:
Three Months Ended
March 31,
Years Ended
December 31,
2019
2018
2018
2017
Revenues
$
3,510,725
1,714,183
$
9,777,079
3,223,874
Operating costs and expenses
Research and development
479,996
225,087
1,414,727
687,039
General and administrative
2,035,552
889,254
7,600,735
1,819,588
Sales and marketing
1,164,791
883,027
4,788,201
1,871,649
Total operating expenses
3,680,339
1,997,368
13,803,663
4,378,276
Loss from operations
(1,728,889
)
(1,574,057
)
(9,158,663
)
(4,066,950
)
Other expense
Interest expense
810
161,773
2,040,311
202,454
Other expense
(32,101
)
31,201
44,129
1,528
Net loss
$
(1,697,598
)
(1,767,031
)
$
(11,243,903
)
$
(4,271,732
)
Net loss per share—basic and diluted
$
(0.14
)
(0.34
)
$
(1.31
)
$
(0.93
)
Weighted average shares outstanding—basic and diluted
11,883,460
5,252,953
8,557,796
4,590,478
Balance
Sheet Data:
As of March 31,
2019
Actual
As
    Adjusted
(1)
Cash
$
6,338,871
$
17,127,621
Working capital
4,545,861
15,334,611
Total assets
6,988,694
17,777,444
Total liabilities
2,126,278
2,126,278
Additional paid-in-capital
23,064,096
33,852,811
Accumulated deficit
(18,194,355
)
(18,194,355
)
Total liabilities and stockholder
s'
    equity
6,988,694
15,651,166
(1)
On
                                         an as adjusted basis to give effect to our issuance and sale of 3,500,000 shares
                                         of common stock in this offering at an assumed public offering price of $3.35 per share,
                                         which was the last reported sale price of our common stock on the Nasdaq Capital Market
                                         on July 12, 2019, after deducting the estimated underwriting discount and estimated
                                         offering expenses payable by us.
-
4
-
RISK FACTORS
Any
investment in our common stock involves a high degree of risk. Before deciding whether to purchase our common stock, investors
should carefully consider the risks described below together with the "Risk Factors" described in our most recent Annual
Report on Form 10-K, which are incorporated herein by reference, as may be amended, supplemented or superseded from time to time
by other reports we file with the SEC. Our business, financial condition, operating results and prospects are subject to the following
material risks as well as those material risks incorporated by reference. Additional risks and uncertainties not presently foreseeable
to us may also impair our business operations. If any of the following risks actually occurs, our business, financial condition
or operating results could be materially adversely affected. In such case, the trading price of our common stock could decline,
and our stockholders may lose all or part of their investment in the shares of our common stock.
Risks Related to Our Business and
Our Industry
Our limited
operating history makes it difficult to evaluate our current business and prospects and may increase the risks associated with
your investment.
We
were founded in 2014. Our limited operating history makes it difficult to evaluate our current business and prospects and plan
for and model our future growth. We have encountered and will continue to encounter risks and uncertainties frequently encountered
by rapidly growing companies in developing markets. If our assumptions regarding these risks and uncertainties are incorrect or
change in response to changes in the ride-sharing or car-sharing market, our results of operations and financial results could
differ materially from our plans and forecasts. Although we have experienced rapid growth since our inception, there is no assurance
that such growth will continue. Any success we may experience in the future will depend in large part on our ability to, among
other things:
●
maintain and expand our customer base and the ways in which customers use our platform;
●
expand revenue from existing customers through increased or broader use of our platform;
●
improve the performance and capabilities of our platform through research and development;
●
effectively expand our business domestically and internationally, which will require that we rapidly expand our sales force and fill key management positions; and
●
successfully compete with other companies that currently provide, or may in the future provide, solutions like ours.
If
we are unable to achieve our key objectives, including the objectives listed above, our business and results of operations will
be adversely affected and the fair market value of our securities could decline.
If we do
not respond appropriately, the evolution of the automotive industry towards autonomous vehicles and mobility on demand services
could adversely affect our business.
The
automotive industry is increasingly focused on the development of advanced driver assistance technologies, with the goal of developing
and introducing a commercially-viable, fully automated driving experience. The high development cost of active safety and autonomous
driving technologies may result in a higher risk of exposure to the success of new or disruptive technologies different than those
being developed by us. There has also been an increase in consumer preferences for mobility on demand services, such as car- and
ride-sharing, as opposed to automobile ownership, which may result in a long-term reduction in the number of vehicles per capita.
These evolving areas have also attracted increased competition from entrants outside the traditional automotive industry. If we
do not continue to innovate to develop or acquire new and compelling products that capitalize upon new technologies in response
to original equipment manufacturers and consumer preferences, this could have an adverse impact on our results of operations.
-
5
-
If we do
not effectively expand and train our direct sales force, we may be unable to add new customers or increase sales to our existing
customers, and our business will be adversely affected.
We
continue to be substantially dependent on our direct sales force to obtain new customers and increase sales with existing customers.
There is significant competition for sales personnel with the skills and technical knowledge that we require. Our ability to achieve
significant revenue growth will depend, in large part, on our success in recruiting, training and retaining sufficient numbers
of sales personnel to support our growth. New hires require significant training and may take significant time before they achieve
full productivity. Our recent hires and planned hires may not become productive as quickly as we expect, and we may be unable to
hire or retain sufficient numbers of qualified individuals in the markets where we do business or plan to do business. In addition,
because we continue to grow rapidly, a large percentage of our sales force is new to our company. If we are unable to hire and
train a sufficient number of effective sales personnel, or the sales personnel we hire are not successful in obtaining new customers
or increasing sales to our existing customer base, our business will be adversely affected.
Fluctuating
economic conditions make it difficult to predict revenue for a particular period, and a shortfall in revenue may harm our operating
results.
Our revenue depends
significantly on general economic conditions and the demand for products in the ride-sharing and car-sharing market. Economic weakness,
customer financial difficulties, and constrained spending on ride-sharing may result in decreased revenue and earnings. Such factors
could make it difficult to accurately forecast our sales and operating results.
We have no formal contracts with
either Uber or Lyft and our current relationships with either of these companies could change in the future, which could adversely
affect our revenues.
Although we have deployed
drivers and cars to the systems of both Uber and Lyft since our operations began in 2015, there is currently no formal contractual
relationship in place with either company. On May 17, 2017, we announced an arrangement with Lyft that allows us to activate our
Drivers through Lyft's sign-up portal; however, this is an oral arrangement that has not been memorialized in a written agreement.
Consequently, each of these relationships could be discontinued at any time. In addition, virtually all of our revenue is generated
by cars and drivers operating on both the Uber or Lyft platform and therefore this concentration represents a high degree of risk
to us and to potential investors.
The ride-sharing model may not continue
to grow, which would adversely affect our business.
Our business and future
growth is significantly dependent on the continued success of each of Uber, Lyft, and other software-based systems that have come
into the marketplace to compete with standard taxicab transportation organizations.
While the effect of
those companies has been to decrease the cost and therefore increase the utilization of ride-sharing, there can be no assurance
that consumer utilization of these systems will continue to grow, or that competition and the resulting price pressure will not
undermine the viability of these types of systems, thereby adversely affecting our business.
Our unique peer to peer structure
could be duplicated and our inability to accurately predict user behavior could negatively impact our sales business.
Although to date neither
Uber nor Lyft have endeavored to develop a peer-to-peer system to match drivers and car owners as we are doing, there can be no
assurance that either one of these companies or other competitors subsequently entering the marketplace will not endeavor to do
so, and there can be no assurance that such competition will not have a negative impact on our business.
Furthermore, although
several attempts to match up fleets of cars owned by operators with Uber and Lyft drivers have failed, there can be no assurance
that other entities will not enter the marketplace on this basis with economic and logistical models that solve the problems that
caused this failure.
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The market forecasts included in
this prospectus may prove to be inaccurate, and even if the markets in which we operate achieve growth, we cannot assure you our
business will grow at similar rates, if at all.
Growth forecasts are
subject to significant uncertainty and are based on assumptions and estimates, which may not prove to be accurate. Forecasts relating
to the expected growth in the ride-sharing market, including the forecasts or projections referenced in this prospectus, may prove
to be inaccurate. Even if the ride-sharing market experiences the forecasted growth, we may not grow our business at similar rates,
or at all. Our growth is subject to many factors, including our success in implementing our business strategy, which is subject
to many risks and uncertainties. Accordingly, the forecasts of market growth included in this prospectus should not be taken as
indicative of our future growth.
We rely on third-party insurance
policies to insure auto-related risks. If insurance coverage is insufficient for the needs of our business or our insurance providers
are unable to meet their obligations, we may not be able to mitigate the risks facing our business, which could adversely affect
our business, financial condition and results of operations.
We procure third-party
insurance policies which provide coverage for both Owners and Drivers on our platform. If the amount of one or more auto-related
claims were to exceed our applicable aggregate coverage limits, we may bear the excess liability. Insurance providers have raised
premiums and deductibles for many businesses and may do so in the future. As a result, our insurance and claims expense could increase.
Our business, financial condition and results of operations could be adversely affected if (i) cost per claim, premiums or the
number of claims significantly exceeds our historical experience and coverage limits, (ii) we experience a claim in excess of coverage
limits, (iii) our insurance providers fail to pay insurance claims, or (iv) we experience a claim for which coverage is not provided.
Our actual losses may exceed our
insurance reserves, which could adversely affect our financial condition and results of operations.
We establish insurance
reserves for claims incurred but not yet paid and claims incurred but not yet reported and any related estimable expenses, and
we periodically evaluate and, as necessary, adjust our insurance reserves as our experience develops or new information is learned.
We employ various predictive modeling and actuarial techniques and make numerous assumptions based on limited historical experience
and industry statistics to estimate our insurance reserves. Estimating the number and severity of claims, as well as related judgment
or settlement amounts, is inherently difficult, subjective, and speculative. A number of external factors can affect the actual
losses incurred for any given claim, including the length of time the claim remains open, fluctuations in healthcare costs, legislative
and regulatory developments and judicial developments. Additionally, we may encounter in the future, instances of insurance fraud,
which could increase our actual insurance-related costs. For any of the foregoing reasons, our actual losses for claims and related
expenses may deviate, individually or in the aggregate, from the insurance reserves reflected in our consolidated financial statements.
If we determine that our estimated insurance reserves are inadequate, we may be required to increase such reserves at the time
of the determination, which could result in an increase to our net loss in the period in which the deficiency is determined and
negatively impact our financial condition and results of operations.
Our operations are dependent on our
current management. The loss of any member of our management team could adversely affect our operations and financial results.
We are highly dependent
upon the retention of the services of our current executive management team, specifically Joseph Furnari, Michael Furnari, Scott
Brogi, Henry Park, and Abhi Arora. The loss of any one of these individuals could adversely affect our operations and financial
results. Our business also depends on our ability to attract and retain additional highly qualified management, technical, operating,
and sales and marketing personnel. We do not currently maintain key person life insurance policies on any of our employees. We
do not have fixed term employment agreements with any of our management employees, all of whom could terminate their relationship
with us at any time.
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Our results
of operations are likely to vary significantly from period to period, which could cause the price of our common stock to decline.
Our
results of operations have varied significantly from period to period. For example, the months of January, February and March are
traditionally very slow for transportation demand. We expect that our results of operations will continue to vary as a result of
a number of factors, many of which are outside of our control and may be difficult to predict, including:
●
our ability to attract and retain new customers;
●
the budgeting cycles and purchasing practices of customers;
●
the timing and success of new service introductions by us or our competitors or any other change in the competitive landscape of the ride-sharing or car-sharing market, including consolidation among our competitors;
●
our ability to successfully expand our business domestically and internationally;
●
changes in our pricing policies or those of our competitors;
●
any disruption in, or termination of, our relationship with our insurance carriers or ride sharing companies with which we do business;
●
the cost and potential outcomes of future litigation, if any;
●
seasonality in our business;
●
general economic conditions, both domestic and foreign, assuming we expand into foreign markets;
●
future accounting pronouncements or changes in our accounting policies or practices; and
●
the amount and timing of operating costs and capital expenditures related to the expansion of our business.
Any
of the above factors, individually or in the aggregate, may result in significant fluctuations in our financial and other operating
results from period to period. As a result of this variability, our historical results of operations should not be relied upon
as an indication of future performance. Moreover, this variability and unpredictability could result in our failure to meet our
operating plan or the expectations of investors or analysts for any period. If we fail to meet such expectations for these or other
reasons, the price of our common stock could fall substantially, and we could face costly lawsuits, including securities class
action suits.
We have
had operating losses each year and quarterly period since our inception, and may not achieve or maintain profitability in the future.
We
have incurred operating losses each year and every quarterly period since inception. For the three months ended March 31, 2019
and 2018, our operating losses were $1,728,889, and $1,574,057, respectively. We expect our operating expenses to increase in the
future as we expand our sales and marketing efforts and continue to invest in research and development of our technologies. These
efforts may be costlier than we expect, and we may not be able to increase our revenue to offset our increased operating expenses.
Our revenue growth may slow or our revenue may decline for a number of other reasons, including reduced demand for our services,
increased competition, a decrease in the growth or size of the ride-sharing or car-sharing market or any failure to capitalize
on growth opportunities. Any failure to increase our revenue as we grow our business could prevent us from achieving or maintaining
profitability. If we are unable to meet these risks and challenges as we encounter them, our business, financial condition and
results of operations may suffer.
We face
intense competition and could lose market share to our competitors, which could adversely affect our business, financial condition
and results of operations.
The
market for ride-sharing and car-sharing services is intensely competitive and characterized by rapid changes in technology, customer
requirements, industry standards and frequent new service introductions and improvements. We anticipate continued challenges from
current competitors, as well as by new entrants into the industry. If we are unable to anticipate or effectively react to these
competitive challenges, our competitive position could weaken, and we could experience a decline in our growth rate or revenue
that could adversely affect our business and results of operations.
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Changes
in government regulations could have an adverse impact on our business.
Currently, there are
few laws regulating our business, however, as our business matures, this may change. Changes in government regulation of our business
have the potential to materially alter our business practices, or our operational results. Depending on the jurisdiction, those
changes may come about through the issuance of new laws and regulations or changes in the interpretation of existing laws and regulations
by a court, regulatory body or governmental official. Sometimes those changes may have not just prospective but also retroactive
effect; this is particularly true when a change is made through reinterpretation of laws or regulations that have been in effect
for some time. Moreover, changes in regulation that may seem neutral on their face may have either more or less impact on us than
on ride-sharing businesses, depending on the circumstances. Potential changes in law or regulation that may affect us relate to
insurance intermediaries, customer privacy, data security and rate regulation.
Uber
and Lyft (and other ride-sharing companies that drivers use in connection with our platform) are subject to numerous legal and
regulatory risks that could have an adverse impact on our business and future prospects.
Our platform relies
heavily on the ability of ride-sharing companies, such as Uber and Lyft, to operate legally in jurisdictions in which we provide
our service. Ride-sharing companies are subject to differing, and sometimes conflicting, laws and regulations in the various jurisdictions
in which they operate. A large number of proposals are before various national, regional, and local legislative bodies and regulatory
entities, regarding issues related to their respective business models. Certain proposals, if adopted, could significantly and
materially harm their business, financial condition, and operating results (and, in turn, materially harm our business) by restricting
or limiting how ride-sharing companies operate their businesses, increasing their operating costs, and decreasing their number
of platform users. We cannot predict whether or when such proposals may be adopted.
Any material
limitation in the fuel supply, or an increase in fuel prices, could adversely affect our business.
Our
operations could be adversely affected by any limitation in the fuel supply, the imposition of any mandatory allocation or rationing
regulations by regulators, and/or an increase in fuel prices. Such a regime could be quickly imposed if there was a serious disruption
in the fuel supply for any reason, including an act of war, terrorist incident or other problem, such as the devastation caused
by hurricane Harvey, affecting the petroleum supply, refining, distribution or pricing. Additionally increased fuel prices and
other costs may disincentivize drivers from using our platform.
A decreased supply of drivers
on our platform would decrease our network liquidity, which could harm our business and operating results.
If our security is compromised or
if our platform is subjected to attacks that frustrate or thwart our users' ability to access our products and services,
our users and partners may cut back on or stop using our products and services altogether, which could seriously harm our business.
Our
efforts to protect the information that our users have shared with us may be unsuccessful due to the actions of third parties,
software bugs, or other technical malfunctions, employee error or malfeasance, or other factors. In addition, third parties may
attempt to fraudulently induce employees or users to disclose information to gain access to our data or our users' data.
If any of these events occur, our or our users' information could be accessed or disclosed improperly. Our privacy policy
governs how we may use and share the information that our users have provided us. Some partners may store information that we share
with them. If these third parties fail to implement adequate data-security practices or fail to comply with our terms and policies,
our users' data may be improperly accessed or disclosed. And even if these third parties take all these steps, their networks
may still suffer a breach, which could compromise our users' data. Any incidents where our users' information is accessed
without authorization, or is improperly used, or incidents that violate our terms of service or policies, could damage our reputation
and our brand and diminish our competitive position. In addition, affected users or government authorities could initiate legal
or regulatory action against us over those incidents, which could cause us to incur significant expense and liability or result
in orders or consent decrees forcing us to modify our business practices. Maintaining the trust of our users is important to sustain
our growth, retention, and user engagement. Concerns over our privacy practices, whether actual or unfounded, could damage our
reputation and brand and deter users, advertisers, and partners from using our products and services. Any of these occurrences
could seriously harm our business.
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Market and economic conditions may
negatively impact our business, financial condition and share price.
Concerns
over inflation, energy costs, geopolitical issues, the U.S. mortgage market and a declining real estate market, unstable global
credit markets and financial conditions, and volatile oil prices have led to periods of significant economic instability, diminished
liquidity and credit availability, declines in consumer confidence and discretionary spending, diminished expectations for the
global economy and expectations of slower global economic growth going forward, increased unemployment rates, and increased credit
defaults in recent years. Our general business strategy may be adversely affected by any such economic downturns, volatile business
environments and continued unstable or unpredictable economic and market conditions. If these conditions continue to deteriorate
or do not improve, it may make any necessary debt or equity financing more difficult to complete, more costly, and more dilutive.
Failure to secure any necessary financing in a timely manner and on favorable terms could have a material adverse effect on our
growth strategy, financial performance, and share price and could require us to delay or abandon development or commercialization
plans.
Financial reporting obligations of
being a public company in the United States are expensive and time-consuming, and our management will be required to devote substantial
time to compliance matters.
As a publicly traded
company we will incur significant additional legal, accounting and other expenses that we did not incur as a privately company.
The obligations of being a public company in the United States require significant expenditures and will place significant demands
on our management and other personnel, including costs resulting from public company reporting obligations under the Securities
Exchange Act of 1934, as amended (the "Exchange Act") and the rules and regulations regarding corporate governance
practices, including those under the Sarbanes-Oxley Act of 2002 ("Sarbanes-Oxley") the Dodd-Frank Wall Street Reform
and Consumer Protection Act, and the listing requirements of the stock exchange on which our securities are listed. These rules
require the establishment and maintenance of effective disclosure and financial controls and procedures, internal control over
financial reporting and changes in corporate governance practices, among many other complex rules that are often difficult to implement,
monitor and maintain compliance with. Moreover, despite recent reforms made possible by the JOBS Act, the reporting requirements,
rules, and regulations will make some activities more time-consuming and costly, particularly after we are no longer an "emerging
growth company." In addition, we expect these rules and regulations to make it more difficult and more expensive for us to
obtain director and officer liability insurance. Our management and other personnel will need to devote a substantial amount of
time to ensure that we comply with all of these requirements and to keep pace with new regulations, otherwise we may fall out of
compliance and risk becoming subject to litigation or being delisted, among other potential problems.
If we fail to comply with the rules
under Sarbanes-Oxley related to accounting controls and procedures in the future, or, if we discover material weaknesses and other
deficiencies in our internal control and accounting procedures, our stock price could decline significantly and raising capital
could be more difficult.
Section 404
of Sarbanes-Oxley requires annual management assessments of the effectiveness of our internal control over financial reporting.
If we fail to comply with the rules under Sarbanes-Oxley related to disclosure controls and procedures in the future, or, if we
discover material weaknesses and other deficiencies in our internal control and accounting procedures, our stock price could decline
significantly and raising capital could be more difficult. If material weaknesses or significant deficiencies are discovered or
if we otherwise fail to achieve and maintain the adequacy of our internal control, we may not be able to ensure that we can conclude
on an ongoing basis that we have effective internal controls over financial reporting in accordance with Section 404 of Sarbanes-Oxley.
Moreover, effective internal controls are necessary for us to produce reliable financial reports and are important to helping prevent
financial fraud. If we cannot provide reliable financial reports or prevent fraud, our business and operating results could be
harmed, investors could lose confidence in our reported financial information, and the trading price of our common stock could
drop significantly.
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Comprehensive tax reform bills could
adversely affect our business and financial condition.
The U.S. government
recently enacted comprehensive federal income tax legislation that includes significant changes to the taxation of business entities.
These changes include, among others, a permanent reduction to the corporate income tax rate. Notwithstanding the reduction in the
corporate income tax rate, the overall impact of this tax reform is uncertain, and our business and financial condition could be
adversely affected. This Annual Report does not discuss any such tax legislation or the manner in which it might affect purchasers
of our common stock. We urge our shareholders to consult with their legal and tax advisors with respect to any such legislation
and the potential tax consequences of investing in our common stock.
Risks Related to Our Common Stock
and this Offering
The price of our common stock may fluctuate substantially.
You should consider
an investment in our common stock to be risky, and you should invest in our common stock only if you can withstand a significant
loss and wide fluctuations in the market value of your investment. Some factors that may cause the market price of our common stock
to fluctuate, in addition to the other risks mentioned in this "Risk Factors" section and elsewhere in this prospectus,
are:
●
sale of our common stock by our shareholders, executives, and directors;
●
volatility and limitations in trading volumes of our shares of common stock;
●
our ability to obtain financings to conduct and complete research and development activities and other business activities;
●
the timing and success of introductions of new products by us or our competitors or any other change in the competitive dynamics of our industry, including consolidation among competitors;
●
our ability to attract new customers;
●
changes in our capital structure or dividend policy, future issuances of securities, sales of large blocks of common stock by our shareholders;
●
our cash position;
●
announcements and events surrounding financing efforts, including debt and equity securities;
●
our inability to enter into new markets or develop new products;
●
reputational issues;
●
announcements of acquisitions, partnerships, collaborations, joint ventures, new products, capital commitments, or other events by us or our competitors;
●
changes in general economic, political and market conditions in or any of the regions in which we conduct our business;
●
changes in industry conditions or perceptions;
●
analyst research reports, recommendation and changes in recommendations, price targets, and withdrawals of coverage;
●
departures and additions of key personnel;
●
disputes and litigations related to intellectual properties, proprietary rights, and contractual obligations;
●
changes in applicable laws, rules, regulations, or accounting practices and other dynamics; and
●
other events or factors, many of which may be out of our control.
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In addition, if the
market for stocks in our industry or industries related to our industry, or the stock market in general, experiences a loss of
investor confidence, the trading price of our common stock could decline for reasons unrelated to our business, financial condition
and results of operations. If any of the foregoing occurs, it could cause our stock price to fall and may expose us to lawsuits
that, even if unsuccessful, could be costly to defend and a distraction to management.
We may acquire other companies or
technologies, which could divert our management's attention, result in dilution to our stockholders and otherwise disrupt
our operations and adversely affect our operating results.
We may in the future
seek to acquire or invest in businesses, applications and services or technologies that we believe could complement or expand our
services, enhance our technical capabilities or otherwise offer growth opportunities. The pursuit of potential acquisitions may
divert the attention of management and cause us to incur various expenses in identifying, investigating and pursuing suitable acquisitions,
whether or not they are consummated.
In addition, we do
not have any experience in acquiring other businesses. If we acquire additional businesses, we may not be able to integrate the
acquired personnel, operations and technologies successfully, or effectively manage the combined business following the acquisition.
We also may not achieve the anticipated benefits from the acquired business due to a number of factors, including:
●
inability to integrate or benefit from acquired technologies or services in a profitable manner;
●
unanticipated costs or liabilities associated with the acquisition;
●
difficulty integrating the accounting systems, operations and personnel of the acquired business;
●
difficulties and additional expenses associated with supporting legacy products and hosting infrastructure of the acquired business;
●
difficulty converting the customers of the acquired business onto our platform and contract terms, including disparities in the revenue, licensing, support or professional services model of the acquired company;
●
diversion of management's attention from other business concerns;
●
adverse effects to our existing business relationships with business partners and customers as a result of the acquisition;
●
the potential loss of key employees;
●
use of resources that are needed in other parts of our business; and
●
use of substantial portions of our available cash to consummate the acquisition.
In addition, a significant
portion of the purchase price of companies we acquire may be allocated to acquired goodwill and other intangible assets, which
must be assessed for impairment at least annually. In the future, if our acquisitions do not yield expected returns, we may be
required to take charges to our operating results based on this impairment assessment process, which could adversely affect our
results of operations.
Acquisitions could
also result in dilutive issuances of equity securities or the incurrence of debt, which could adversely affect our operating results.
In addition, if an acquired business fails to meet our expectations, our operating results, business and financial position may
suffer.
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If securities or industry analysts do not publish research
or reports, or publish unfavorable research or reports about our business, our stock price and trading volume may decline.
The trading market
for our common stock will rely in part on the research and reports that industry or financial analysts publish about us, our business,
our markets and our competitors. We do not control these analysts. If securities analysts do not cover our common stock, the lack
of research coverage may adversely affect the market price of our common stock. Furthermore, if one or more of the analysts who
do cover us downgrade our stock or if those analysts issue other unfavorable commentary about us or our business, our stock price
would likely decline. If one or more of these analysts cease coverage of us or fails to regularly publish reports on us, we could
lose visibility in the market and interest in our stock could decrease, which in turn could cause our stock price or trading volume
to decline and may also impair our ability to expand our business with existing customers and attract new customers.
Future sales and issuances of our
securities could result in additional dilution of the percentage ownership of our shareholders and could cause our share price
to fall.
We expect that significant
additional capital will be needed in the future to continue our planned operations, including research and development, increased
marketing, hiring new personnel, commercializing our products and services, and continuing activities as an operating public company.
To the extent we raise additional capital by issuing equity securities, our shareholders may experience substantial dilution. We
may sell common stock, convertible securities or other equity securities in one or more transactions at prices and in a manner
we determine from time to time. If we sell common stock, convertible securities or other equity securities in more than one transaction,
investors may be materially diluted by subsequent sales. Such sales may also result in material dilution to our existing shareholders,
and new investors could gain rights superior to our existing shareholders.
We do not
intend to pay cash dividends on our shares of common stock so any returns will be limited to the value of our shares.
We
currently anticipate that we will retain future earnings for the development, operation and expansion of our business and do not
anticipate declaring or paying any cash dividends for the foreseeable future. Any return to shareholders will therefore be limited
to the increase, if any, of our share price.
We are an "emerging growth
company" and will be able to avail ourselves of reduced disclosure requirements applicable to emerging growth companies,
which could make our common stock less attractive to investors.
We are an "emerging
growth company," as defined in the Jumpstart Our Business Startups Act of 2012 (the "JOBS Act"), and we intend
to take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that
are not "emerging growth companies" including not being required to comply with the auditor attestation requirements
of Section 404(b) of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in our periodic
reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation
and shareholder approval of any golden parachute payments not previously approved. In addition, pursuant to Section 107 of
the JOBS Act, as an "emerging growth company" we intend to take advantage of the extended transition period provided
in Section 7(a)(2)(B) of the Securities Act, for complying with new or revised accounting standards. In other words, an "emerging
growth company" can delay the adoption of certain accounting standards until those standards would otherwise apply to private
companies. We cannot predict if investors will find our common stock less attractive because we may rely on these exemptions. If
some investors find our common stock less attractive as a result, there may be a less active trading market for our common stock
and our stock price may be more volatile. We may take advantage of these reporting exemptions until we are no longer an "emerging
growth company." We will remain an "emerging growth company" until the earliest of (i) the last day of the
fiscal year in which we have total annual gross revenues of $1.07 billion or more; (ii) the last day of our fiscal year
in 2023; (iii) the date on which we have issued more than $1 billion in nonconvertible debt during the previous three
years; or (iv) the date on which we are deemed to be a large accelerated filer under the rules of the U.S. Securities and
Exchange Commission.
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Because we have elected to defer
compliance with new or revised accounting standards, our financial statement disclosure may not be comparable to similar companies.
We have elected to
use the extended transition period for complying with new or revised accounting standards under Section 102(b)(1) of the JOBS
Act. This allows us to delay the adoption of new or revised accounting standards that have different effective dates for public
and private companies until those standards apply to private companies. As a result of our election, our financial statements may
not be comparable to companies that comply with public company effective dates.
Because of this extended
transition period, we may be less attractive to investors and it may be difficult for us to raise additional capital as and when
we need it. Investors may be unable to compare our business with other companies in our industry if they believe that our financial
accounting is not as transparent as other companies in our industry. If we are unable to raise additional capital as and when we
need it, our financial condition and results of operations may be materially and adversely affected.
We may be at risk of securities class
action litigation.
We may be at risk of
securities class action litigation. In the past, technology companies have experienced significant stock price volatility. If we
face such litigation, it could result in substantial costs and a diversion of management's attention and resources, which
could harm our business and results in a decline in the market price of our common stock.
Our common stock may be delisted if we fail to comply
with continued listing standards.
If we fail to meet
any of the continued listing standards of the Nasdaq Capital Market, our common stock could be delisted from the Nasdaq Capital
Market. These continued listing standards include specifically enumerated criteria, such as:
●
a $1.00 minimum closing bid price;
●
stockholders' equity of $2.5 million;
●
500,000 shares of publicly-held common stock with a market value of at least $1 million;
●
300 round-lot stockholders; and
●
compliance with Nasdaq's corporate governance requirements, as well as additional or more stringent criteria that may be applied in the exercise of Nasdaq's discretionary authority.
If we fail to comply
with Nasdaq's continued listing standards, we may be delisted and our common stock will trade, if at all, only on the over-the-counter
market, such as the OTCBB or OTCQX markets, and then only if one or more registered broker-dealer market makers comply with quotation
requirements. In addition, delisting of our common stock could depress our stock price, substantially limit liquidity of our common
stock and materially adversely affect our ability to raise capital on terms acceptable to us, or at all. Finally, delisting of
our common stock could result in our common stock becoming a "penny stock" under the Exchange Act.
Anti-takeover provisions in our charter
documents and under the General Corporation Law of the State of Delaware could make an acquisition of us more difficult and may
prevent attempts by our stockholders to replace or remove our management.
Provisions
in our amended and restated certificate of incorporation and our bylaws may delay or prevent an acquisition of us or a change in
our management. These provisions include a classified board of directors, a prohibition on actions by written consent of our stockholders,
and the ability of the board of directors to issue preferred stock without stockholder approval. In addition, because we are incorporated
in Delaware, we are governed by the provisions of Section 203 of the Delaware General Corporation Law, or the DGCL, which
prohibits stockholders owning in excess of 15% of the outstanding combined organization voting stock from merging or combining
with the combined organization. Although we believe these provisions collectively will provide for an opportunity to receive higher
bids by requiring potential acquirers to negotiate with our board of directors, they would apply even if the offer may be considered
beneficial by some stockholders. In addition, these provisions may frustrate or prevent any attempts by our stockholders to replace
or remove then-current management by making it more difficult for stockholders to replace members of the board of directors, which
is responsible for appointing the members of management.
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Anti-takeover provisions in our charter
documents could discourage, delay or prevent a change in control of us and may affect the trading price of our common stock.
Our
corporate documents and the DGCL contain provisions that may enable our board of directors to resist a change in control of us
even if a change in control were to be considered favorable by our stockholders. These provisions:
●
stagger the terms of our board of directors and require 66 and 2/3% stockholder voting to remove directors, who may only be removed for cause;
●
authorize our board of directors to issue "blank check" preferred stock and to determine the rights and preferences of those shares, which may be senior to our common stock, without prior stockholder approval;
●
establish advance notice requirements for nominating directors and proposing matters to be voted on by stockholders at stockholders' meetings;
●
prohibit our stockholders from calling a special meeting and prohibit stockholders from acting by written consent;
●
require 66 and 2/3% stockholder voting to effect certain amendments to our certificate of incorporation and bylaws; and
●
prohibit cumulative voting in the election of directors, which limits the ability of minority stockholders to elect director candidates.
These
provisions could discourage, delay or prevent a transaction involving a change in control of us. These provisions could also
discourage proxy contests and make it more difficult for stockholders to elect directors of their choosing and cause us to take
other corporate actions our stockholders desire.
Our amended and restated certificate
of incorporation designates the Court of Chancery of the State of Delaware as the sole and exclusive forum for certain types of
actions and proceedings that may be initiated by our stockholders, which could limit our stockholders' ability to obtain
a favorable judicial forum for disputes with us or our directors, officers, employees or agents.
Our amended and restated
certificate of incorporation provides that, unless we consent in writing to an alternative forum, the Court of Chancery of the
State of Delaware will be the sole and exclusive forum for any derivative action or proceeding brought on our behalf, any action
asserting a claim of breach of a fiduciary duty owed by any of our directors, officers, employees or agents to us or our stockholders,
any action asserting a claim arising pursuant to any provision of the DGCL, our amended and restated certificate of incorporation
or our amended and restated bylaws or any action asserting a claim that is governed by the internal affairs doctrine, in each case
subject to the Court of Chancery having personal jurisdiction over the indispensable parties named as defendants therein and the
claim not being one which is vested in the exclusive jurisdiction of a court or forum other than the Court of Chancery or for which
the Court of Chancery does not have subject matter jurisdiction. T
his exclusive forum provision
would not apply to suits brought to enforce any liability or duty created by the Securities Act or the Exchange Act or any other
claim for which the federal courts have exclusive jurisdiction.
Any person purchasing or otherwise acquiring any interest
in any shares of our common stock shall be deemed to have notice of and to have consented to this provision of our amended and
restated certificate of incorporation.
This choice of forum
provision may limit our stockholders' ability to bring a claim in a judicial forum that it finds favorable for disputes with
us or our directors, officers, employees or agents, which may discourage such lawsuits against us and our directors, officers,
employees and agents even though an action, if successful, might benefit our stockholders. Stockholders who do bring a claim in
the Court of Chancery could face additional litigation costs in pursuing any such claim, particularly if they do not reside in
or near Delaware. The Court of Chancery may also reach different judgments or results than would other courts, including courts
where a stockholder considering an action may be located or would otherwise choose to bring the action, and such judgments or results
may be more favorable to us than to our stockholders. Alternatively, if a court were to find this provision of our amended and
restated certificate of incorporation inapplicable to, or unenforceable in respect of, one or more of the specified types of actions
or proceedings, we may incur additional costs associated with resolving such matters in other jurisdictions, which could have a
material adverse effect on our business, financial condition or results of operations.
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15
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We have broad discretion in the use
of the net proceeds from this offering and may not use them effectively.
Our management will
have broad discretion in the application of the net proceeds from this offering and could spend the proceeds in ways that do not
necessarily improve our results of operations or enhance the value of our common stock. Our failure to apply these funds effectively
could have a material adverse effect on our business, financial condition, operating results and cash flow, and could cause the
price of our common stock to decline.
If you purchase the common stock
sold in this offering, you will experience immediate and substantial dilution in your investment. You will experience further dilution
if we issue additional equity securities in future fundraising transactions.
Since the price
per share of our common stock being offered is substantially higher than the net tangible book value per share of our common
stock, you will suffer substantial dilution with respect to the net tangible book value of the common stock you purchase in
this offering. After giving effect to our sale of 3,500,000 shares of our common stock in this offering at an assumed public
offering price of $3.35 per share, which was the last reported sale price of
our common stock on the Nasdaq Capital Market on July 12, 2019, and our net tangible book value as of March 31, 2019, if you
purchase shares of common stock in this offering, you will suffer immediate and substantial dilution of $2.37 per share with
respect to the net tangible book value of the common stock. See the section entitled "Dilution" elsewhere in this
prospectus for a more detailed discussion of the dilution you will incur if you purchase common stock in this offering.
If we issue additional
common stock, or securities convertible into or exchangeable or exercisable for common stock following the expiration of the lock-up agreements
entered into with the underwriter as described in the section entitled "Underwriting" elsewhere in this prospectus,
our stockholders, including investors who purchase shares of common stock in this offering, could experience additional dilution,
and any such issuances may result in downward pressure on the price of our common stock.
Future sales of shares by existing
stockholders could cause our stock price to decline.
Sales of a substantial
number of shares of our common stock in the public market could occur at any time. These sales, or the perception in the market
that the holders of a large number of shares of our common stock intend to sell shares, could reduce the market price of our common
stock.
As of March 31, 2019,
we had outstanding options to purchase an aggregate of 2,378,376 options of our common stock, exercisable at a weighted average
exercise price of $2.44 per share, and outstanding warrants to purchase an aggregate of 510,507 shares of our common stock, all
of which are exercisable at a weighted average exercise price of $3.67 per share. The exercise of such outstanding options and
warrants will result in further dilution of your investment. If our existing stockholders sell substantial amounts of our common
stock in the public market, or if the public perceives that such sales could occur, this could have an adverse impact on the market
price of our common stock, even if there is no relationship between such sales and the performance of our business.
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-
SPECIAL NOTE REGARDING FORWARD-LOOKING
STATEMENTS
This
prospectus contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 27A of the Securities
Act, and Section 21E of the Exchange Act. These statements may be identified by such forward-looking terminology as "may,"
"will," "should," "expects," "intends," "plans," "anticipates,"
"believes," "estimates," "predicts," "potential," "continue" or the
negative of these terms or other comparable terminology. Our forward-looking statements are based on a series of expectations,
assumptions, estimates and projections about our company, are not guarantees of future results or performance and involve substantial
risks and uncertainty. We may not actually achieve the plans, intentions or expectations disclosed in these forward-looking statements.
Actual results or events could differ materially from the plans, intentions and expectations disclosed in these forward-looking
statements. Our business and our forward-looking statements involve substantial known and unknown risks and uncertainties, including
the risks and uncertainties inherent in our statements regarding:
●
our ability to add new customers or increase listings or rentals on our platform;
●
our ability to expand and train our sales team;
●
the potential benefits of and our ability to maintain our relationships with ridesharing companies, and establish or maintain future collaborations or strategic relationships or obtain additional funding;
●
our marketing capabilities and strategy;
●
our ability to maintain a cost-effective insurance program;
●
our ability to retain the continued service of our key professionals and to identify, hire and retain additional qualified professionals;
●
our competitive position, and developments and projections relating to our competitors and our industry;
●
our estimates regarding expenses, future revenue, capital requirements and needs for additional financing; and
●
the impact of laws and regulations.
All of our forward-looking
statements are as of the date of this prospectus only. In each case, actual results may differ materially from such forward-looking
information. We can give no assurance that such expectations or forward-looking statements will prove to be correct. An occurrence
of, or any material adverse change in, one or more of the risk factors or risks and uncertainties referred to in this prospectus
or included in our other public disclosures or our other periodic reports or other documents or filings filed with or furnished
to the U.S. Securities and Exchange Commission could materially and adversely affect our business, prospects, financial condition
and results of operations. Except as required by law, we do not undertake or plan to update or revise any such forward-looking
statements to reflect actual results, changes in plans, assumptions, estimates or projections or other circumstances affecting
such forward-looking statements occurring after the date of this prospectus, even if such results, changes or circumstances make
it clear that any forward-looking information will not be realized. Any public statements or disclosures by us following this prospectus
that modify or impact any of the forward-looking statements contained in this prospectus will be deemed to modify or supersede
such statements in this prospectus.
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-
USE OF PROCEEDS
We estimate that the net proceeds from our issuance and sale of 3,500,000 shares of our common stock in
this offering will be approximately $10,788,750, assuming an offering price of  $3.35 per share, which was the last reported
sale price of our common stock on the Nasdaq Capital Market on July 12, 2019, after deducting the underwriting discount and estimated
offering expenses payable by us. If the underwriter exercises its over-allotment option in full, we estimate that the net proceeds
from this offering will be approximately $12,459,563. The actual offering price per share will be determined between us and the
underwriter at the time of pricing, and may be at a discount to the current market price.
We intend to use the net proceeds to us from this offering for general corporate purposes, including working
capital, sales, customer support, technology and marketing activities, and general and administrative matters.
This expected use of
net proceeds from this offering represents our intentions based upon our current plans and business conditions. The amounts and
timing of our actual expenditures may vary significantly depending on numerous factors. We may find it necessary or advisable to
use the net proceeds from this offering for other purposes, and we will have broad discretion in the application of net proceeds
from this offering.
Pending our use of
the net proceeds from this offering, we intend to invest the net proceeds in a variety of capital preservation investments, including
short-term, investment-grade, interest-bearing instruments and U.S. government securities.
DIVIDEND POLICY
We have never declared
or paid any cash dividends on our capital stock. We intend to retain future earnings, if any, to finance the operation and expansion
of our business and do not anticipate paying any cash dividends in the foreseeable future. Any future determination related to
our dividend policy will be made at the discretion of our board of directors after considering our financial condition, results
of operations, capital requirements, business prospects and other factors our board of directors deems relevant.
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-
CAPITALIZATION
The
following table sets forth our cash, cash equivalents and short-term investments and capitalization as of March 31, 2019, as follows:
●
on an actual basis; and
●
on an as adjusted
basis to give effect to our issuance and sale of 3,500,000 shares of common stock in this offering at an assumed public offering
price of $3.35 per share, which was the last reported sale price of our common stock on the Nasdaq Capital Market on July
12, 2019, after deducting the estimated underwriting discount and estimated offering expenses payable by us.
Our
capitalization following the closing of this offering will be adjusted based on the actual offering price and other terms of this
offering determined at pricing. You should read this information in conjunction with our financial statements and the related notes
appearing at the end of this prospectus, the information set forth under the headings "Use of Proceeds," "Selected
Historical Financial Data" and "Management's Discussion and Analysis of Financial Condition and Results of Operations"
and the other financial information contained in this prospectus.
As of March 31, 2019
Actual
As Adjusted
(unaudited)
(in thousands, except share and per share data)
Cash, cash equivalents and short-term investments
$
6,338,871
$
17,127,631
Stockholders' equity:
Common stock, par value $0.00001 per share; 50,000,000 shares authorized, 12,191,508 shares issued and outstanding, actual; 50,000,000 shares authorized, 15,691,508 shares issued and outstanding, as adjusted
122
157
Preferred stock, par value $0.00001 per share; 15,000,000 shares authorized, no shares issued and outstanding, actual and as adjusted
—
—
Additional paid-in capital
23,064,096
33,852,811
Subscription receivable – related party
(7,447
)
(7,447
)
Accumulated deficit
(18,194,355
)
(18,194,355
)
Total stockholders' equity
4,862,416
15,651,166
Total capitalization
$
4,862,416
$
15,651,166
The outstanding historical share information and additional paid-in capital in the table above is based
on 12,191,508 shares of common stock outstanding as of March 31, 2019 and excludes, as of that date, the following:
●
93,489 shares of our common stock reserved for future issuance pursuant to outstanding options under our 2016 Equity Incentive Plan;
●
1,373,700 shares of our common stock reserved for future issuance pursuant to outstanding options and restricted stock units under our 2018 Equity Incentive Plan; and
●
510,507 shares of our common stock issuable upon the exercise of warrants to purchase shares of our common stock outstanding  at a weighted average exercise price of $3.67 per share.
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DILUTION
If
you invest in our common stock in this offering, your ownership interest will be immediately diluted to the extent of the difference
between the public offering price per share and the as adjusted net tangible book value per share of our common stock after this
offering.
As
of March 31, 2019, our historical net tangible book value was $4,653,105, or $0.38 per share of our common stock. Net
tangible book value per share represents the book value of our total tangible assets less the book value of our total
liabilities, divided by the number of shares of our common stock outstanding as of March 31, 2019.
After giving effect to our sale of 3,500,000 shares of our common stock in this offering at an assumed
public offering price of $3.35 per share, which was the last reported sale price of our common stock on the Nasdaq Capital Market
on July 12, 2019, and after deducting the estimated underwriting discount and estimated offering expenses payable by us, our as
adjusted net tangible book value as of March 31, 2019 would have been approximately $15.44 million, or approximately $0.98 per
share. This amount represents an immediate increase in net tangible book value of $0.60 per share to our existing stockholders
and an immediate dilution in net tangible book value of approximately $2.37 per share to new investors purchasing shares of
our common stock in this offering. We determine dilution by subtracting our as adjusted net tangible book value per share after
this offering from the amount of cash per share of common stock paid by new investors in this offering. The following table illustrates
this dilution:
Assumed public offering price per share
$
3.35
Historical net tangible book value per share as of March 31, 2019
$
0.38
Increase in net tangible book value per share attributable to new investors participating in this offering
0.60
​
​
As adjusted net tangible book value per share after this offering
$
0.98
​
​
Dilution per share to new investors in this offering
$
2.37
Each $1.00 increase (decrease) in the assumed public offering price of $3.35 per share, which was the last
reported sale price of our common stock on the Nasdaq Capital Market on July 12, 2019, would increase (decrease) the as adjusted
net tangible book value per share after this offering by approximately $3,500,000, and dilution per share to new investors by approximately
$0.79, assuming that the number of shares offered by us, as set forth on the cover page of this prospectus, remains the same and
after deducting the estimated underwriting discount and estimated offering expenses payable by us. Each increase (decrease) of
1.0 million shares in the number of shares offered by us would increase (decrease) our as adjusted net tangible book value
per share after this offering by approximately $0.13 per share and decrease (increase) the dilution to new investors by approximately
($0.13) per share, assuming the assumed public offering price remains the same, and after deducting the estimated underwriting
discount and the estimated offering expenses payable by us.
The
foregoing tables and calculations are based on the number of shares of our common stock outstanding as of March 31, 2019 and excludes, as of that date, the following:
●
93,943 shares of our common stock reserved for future issuance under our 2016 Equity Incentive Plan;
●
1,373,700 shares of our common stock reserved for future issuance under our 2018 Equity Incentive Plan; and
●
510,507 shares of our common stock issuable upon the exercise of warrants to purchase shares of our common stock outstanding at a weighted average exercise price of $3.67 per share.
To
the extent any of the outstanding options or warrants described above are exercised, new options are issued or we issue additional
shares of common stock or other equity or convertible debt securities in the future, there will be further dilution to investors
participating in this offering. If all of the outstanding options and warrants described above had been exercised as of March
31, 2019, the as adjusted net tangible book value per share after this offering would be $1.07, and total dilution per share to
new investors would be $2.28.
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DESCRIPTION OF CAPITAL STOCK
The following descriptions
are summaries of the material terms of our amended and restated certificate of incorporation, which will be effective upon the
closing of this offering and amended and restated bylaws, which will be effective upon the effectiveness of the registration statement
of which this prospectus is a part. The descriptions of the common stock and convertible preferred stock give effect to changes
to our capital structure that will occur immediately prior to the completion of this offering. We refer in this section to our
amended and restated certificate of incorporation as our certificate of incorporation, and we refer to our amended and restated
bylaws as our bylaws.
General
Our authorized capital
stock will consists of 50,000,000 shares of common stock, par value $0.00001 per share, and 15,000,000 shares of preferred
stock, par value $0.00001 per share, of which no shares of preferred stock are designated or issued.
As of July 15, 2019, 12,331,348 shares of our common stock were outstanding and held by 28 stockholders
of record. The actual number of holders of our common stock is greater than this number of record holders, and includes stockholders
who are beneficial owners, but whose shares are held in street name by brokers or held by other nominees. This number of holders
of record also does not include stockholders whose shares may be held in trust by other entities.
Common Stock
The holders of our
common stock are entitled to one vote for each share held on all matters submitted to a vote of the stockholders. The holders of
our common stock do not have any cumulative voting rights. Holders of our common stock are entitled to receive ratably any dividends
declared by the board of directors out of funds legally available for that purpose, subject to any preferential dividend rights
of any outstanding preferred stock. Our common stock has no preemptive rights, conversion rights or other subscription rights or
redemption or sinking fund provisions.
In the event of our
liquidation, dissolution or winding up, holders of our common stock will be entitled to share ratably in all assets remaining after
payment of all debts and other liabilities and any liquidation preference of any outstanding preferred stock.
Preferred Stock
Our board of directors
has the authority, without further action by our stockholders, to issue up to 15,000,000 shares of preferred stock in one
or more series and to fix the rights, preferences, privileges and restrictions thereof. These rights, preferences and privileges
could include dividend rights, conversion rights, voting rights, terms of redemption, liquidation preferences, sinking fund terms
and the number of shares constituting, or the designation of, such series, any or all of which may be greater than the rights of
our common stock. The issuance of our preferred stock could adversely affect the voting power of holders of common stock and the
likelihood that such holders will receive dividend payments and payments upon our liquidation. In addition, the issuance of preferred
stock could have the effect of delaying, deferring or preventing a change in control of our company or other corporate action.
We currently have no plans to issue additional shares of preferred stock.
Other Warrants
As of the date
of this prospectus, we had outstanding warrants to purchase up to (i) 200,000 shares of common stock at an exercise price
of $2.10 per share; (ii) 60,392 shares of common stock at an exercise price of $2.00 per share; (iii) 28,993 shares of
common stock at an exercise price of $7.50 per share, (iv) 45,522 shares of common stock at an exercise price of $3.19 per
share; (v) 75,600 shares of common stock at an exercise price of $6.25 per share; and (v) 100,000 shares of common stock at
an exercise price of $5.00 per share.
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-
2016 Equity Incentive Plan
An aggregate of
2,227,777 shares of common stock were initially reserved for issuance under our 2016 Equity Incentive Plan. As of March 31,
2019, we had 890,876 shares of common stock issuable upon exercise of outstanding stock options and 93,489 shares of common
stock available for future awards. In connection with the adoption of our 2018 Equity Incentive Plan, no additional awards
will be granted under our 2016 Equity Incentive Plan.
2018 Equity Incentive Plan
An aggregate of 3,000,000
shares of common stock are reserved for issuance under our 2018 Equity Incentive Plan. As of March 31, 2019, there were 1,487,500 shares
issuable upon exercise of outstanding stock options and 1,373,700 shares of common stock available for future awards.
Anti-Takeover Effects of Provisions
of Our Charter Documents
Our certificate of
incorporation provides for our board of directors to be divided into three classes serving staggered terms. Approximately one-third of
the board of directors will be elected each year. The provision for a classified board could prevent a party who acquires control
of a majority of our outstanding voting stock from obtaining control of our board of directors until the second annual stockholders
meeting following the date the acquirer obtains the controlling stock interest. The classified board provision could discourage
a potential acquirer from making a tender offer or otherwise attempting to obtain control of us and could increase the likelihood
that incumbent directors will retain their positions. Our certificate of incorporation provides that directors may be removed with
cause by the affirmative vote of the holders of a majority of the voting power of all of our outstanding stock or without cause
by the affirmative vote of the holders of at least 66 and 2/3% of the voting power of all of our outstanding stock.
Our certificate of
incorporation provides that certain amendments of our certificate of incorporation and amendments by our stockholders of our bylaws
require the approval of at least 66 and 2/3% of the voting power of all of our outstanding stock. These provisions could discourage
a potential acquirer from making a tender offer or otherwise attempting to obtain control of our company and could delay changes
in management.
Our certificate of
incorporation also provides that, unless we consent in writing to an alternative forum, the Court of Chancery of the State of Delaware
will be the sole and exclusive forum for any derivative action or proceeding brought on our behalf, any action asserting a claim
of breach of a fiduciary duty owed by any of our directors, officers, employees or agents to us or our stockholders, any action
asserting a claim arising pursuant to any provision of the DGCL, our certificate of incorporation or our bylaws or any action asserting
a claim that is governed by the internal affairs doctrine, in each case subject to the Court of Chancery having personal jurisdiction
over the indispensable parties named as defendants therein and the claim not being one which is vested in the exclusive jurisdiction
of a court or forum other than the Court of Chancery or for which the Court of Chancery does not have subject matter jurisdiction.
This exclusive forum provision would not apply to suits brought to enforce any liability
or duty created by the Securities Act or the Exchange Act or any other claim for which the federal courts have exclusive jurisdiction.
This forum selection provision may limit our stockholders' ability to bring a claim in a judicial forum that they
find favorable for disputes with us or our directors, officers, employees or agents, which may discourage such lawsuits against
us and our directors, officers, employees and agents even though an action, if successful, might benefit our stockholders.
Our bylaws establish
an advance notice procedure for stockholder proposals to be brought before an annual meeting of our stockholders, including proposed
nominations of persons for election to our board of directors. At an annual meeting, stockholders may only consider proposals or
nominations specified in the notice of meeting or brought before the meeting by or at the direction of our board of directors.
Stockholders may also consider a proposal or nomination by a person who was a stockholder at the time of giving notice and at the
time of the meeting, who is entitled to vote at the meeting and who has complied with the notice requirements of our bylaws in
all respects. The bylaws do not give our board of directors the power to approve or disapprove stockholder nominations of candidates
or proposals regarding other business to be conducted at a special or annual meeting of our stockholders. However, our bylaws may
have the effect of precluding the conduct of certain business at a meeting if the proper procedures are not followed. These provisions
may also discourage or deter a potential acquirer from conducting a solicitation of proxies to elect the acquirer's own slate
of directors or otherwise attempting to obtain control of our company.
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-
Our bylaws provide
that a special meeting of our stockholders may be called only by our Secretary and at the direction of our board of directors by
resolution adopted by a majority of our board of directors. Because our stockholders do not have the right to call a special meeting,
a stockholder could not force stockholder consideration of a proposal over the opposition of our board of directors by calling
a special meeting of stockholders prior to such time as a majority of our board of directors, the chairperson of our board of directors,
the president or the chief executive officer believed the matter should be considered or until the next annual meeting
provided
that
the requestor met the notice requirements. The restriction on the ability of stockholders to call a special meeting means that
a proposal to replace our board of directors also could be delayed until the next annual meeting.
Our bylaws do not allow
our stockholders to act by written consent without a meeting. Without the availability of stockholder action by written consent,
a holder controlling a majority of our capital stock would not be able to amend our bylaws or remove directors without holding
a stockholders' meeting.
Anti-Takeover Effects of Delaware Law
We are subject to the
provisions of Section 203 of the DGCL, or Section 203. Under Section 203, we would generally be prohibited from
engaging in any business combination with any interested stockholder for a period of three years following the time that this stockholder
became an interested stockholder unless:
●
prior to this time, our board of directors approved either the business combination or the transaction that resulted in the stockholder becoming an interested stockholder;
●
upon consummation of the transaction that resulted in the stockholder becoming an interested stockholder, the interested stockholder owned at least 85% of our voting stock outstanding at the time the transaction commenced, excluding shares owned by persons who are directors and also officers, and by employee stock plans in which employee participants do not have the right to determine confidentially whether shares held subject to the plan will be tendered in a tender or exchange offer; or
●
at or subsequent to such time, the business combination is approved by our board of directors and authorized at an annual or special meeting of stockholders, and not by written consent, by the affirmative vote of at least 66 and 2/3% of the outstanding voting stock that is not owned by the interested stockholder.
Under Section 203,
a "business combination" includes:
●
any merger or consolidation involving the corporation and the interested stockholder;
●
any sale, transfer, pledge or other disposition of 10% or more of the assets of the corporation involving the interested stockholder;
●
any transaction that results in the issuance or transfer by the corporation of any stock of the corporation to the interested stockholder, subject to limited exceptions;
●
any transaction involving the corporation that has the effect of increasing the proportionate share of the stock of any class or series of the corporation beneficially owned by the interested stockholder; or
●
the receipt by the interested stockholder of the benefit of any loans, advances, guarantees, pledges or other financial benefits provided by or through the corporation.
In general, Section 203
defines an interested stockholder as an entity or person beneficially owning 15% or more of the outstanding voting stock of the
corporation and any entity or person affiliated with or controlling or controlled by such entity or person.
Transfer Agent and Registrar
Our transfer agent
and registrar is VStock Transfer, LLC whose address is 18 Lafayette Place, Woodmere, NY 11598.
Listing
Our common stock is listed on the Nasdaq
Capital Market under the symbol "HYRE."
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UNDERWRITING
We are offering
the shares of common stock described in this prospectus through the underwriter listed below. Northland Securities, Inc. is
acting as the sole book-running manager of this offering. The underwriter named below has agreed to buy, subject to the terms
of the underwriting agreement, the number of shares of common stock listed opposite its name below. The underwriter is
committed to purchase and pay for all of the shares if any are purchased, other than the shares covered by the over-allotment
option described below unless and until this option is exercised.
Underwriter
Number of
Shares
Northland Securities, Inc.
Total
3,500,000
The underwriter has
advised us that it proposes to offer the shares of common stock to the public at a price of $        per
share. The underwriter proposes to offer the shares of common stock to certain dealers at the same price less a concession of not
more than $        per share. After the offering, these figures may be changed by the underwriter.
The shares sold in
this offering are expected to be ready for delivery against payment in immediately available funds on or about                 ,
2019, subject to customary closing conditions. The underwriter may reject all or part of any order.
We have granted to
the underwriter an option to purchase up to an additional 525,000 shares
of our common stock from us at the same price to the public, and with the same underwriting discount, as set forth in the table
below. The underwriter may exercise this option any time during the 30-day period after the date of this prospectus, but only to
cover over-allotments, if any. To the extent the underwriter exercises the option, the underwriter will become obligated, subject
to certain conditions, to purchase the securities for which they exercise the option.
The underwriting discount
is equal to the public offering price per share of common stock, less the amount paid by the underwriter to us per share. The following
table shows the per share and total underwriting discount to be paid by us to the underwriter in this offering, assuming both no
exercise and full exercise of the over-allotment option. In addition to the underwriting discount, we have agreed to pay up to $150,000 of the fees and expenses
of the underwriter, which may include the fees and expenses of counsel to the underwriter. The fees and expenses of the underwriter
that we have agreed to reimburse are not included in the underwriting discount set forth in the table below. The underwriting discount
and reimbursable expenses the underwriter will receive were determined through arms' length negotiations between us and the
underwriter
.
Per Share
Total with
No Over-Allotment
Total with
Over-Allotment
Underwriting discount to be paid by us
We estimate that the total expenses of this offering, excluding the underwriting discount, will be approximately
$350,000. This includes $150,000 of fees and expenses of the underwriter. In accordance with FINRA Rule 5110, this reimbursement
fee described in the preceding sentence is deemed underwriting compensation for this offering.
We have also agreed
to indemnify the underwriter against certain liabilities, including civil liabilities under the Securities Act or to contribute
to payments that the underwriter may be required to make in respect of those liabilities.
We also
have agreed that, subject to certain qualifications, at any time prior to or within 12 months of the closing of this
offering, if we undertake any public offering or public placement of securities, we will offer Northland Securities, Inc. the
right to serve as exclusive placement agent (in the case of a private offering) or lead-bookrunner (in the case of a public
offering) in such offering. If Northland Securities, Inc. agrees to act in such capacity, we will enter into an appropriate
form of separate agreement containing customary terms and conditions to be mutually agreed upon. This right to serve is
neither an expressed nor an implied commitment by Northland Securities, Inc. to act in any capacity in any such transaction
or to purchase any securities in connection therewith, which commitment will only be set forth in a separate agreement.
Except as disclosed
in this prospectus, the underwriter has not received, and will not receive, from us any other item of compensation or expense
in connection with this offering considered by FINRA to be underwriting compensation under its rule of fair price. The underwriting
discount was determined through an arms' length negotiation between us and the underwriter.
No Sales of Similar Securities
We and each of
our directors and executive officers have agreed not to offer, sell, agree to sell, directly or indirectly, or otherwise
dispose of any shares of common stock or any securities convertible into or exchangeable for shares of common stock without
the prior written consent of Northland Securities, Inc. for a period of 90 days after the date of the final prospectus.
These lock-up agreements provide limited exceptions and their restrictions may be waived at any time by Northland Securities, Inc.
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-
Price Stabilization, Short Positions
and Penalty Bids
To facilitate this
offering, the underwriter may engage in transactions that stabilize, maintain or otherwise affect the price of our common stock
during and after the offering. Specifically, the underwriter may over-allot or otherwise create a short position in our common
stock for their own account by selling more shares of common stock than we have sold to the underwriter. The underwriter may close
out any short position by either exercising their option to purchase additional shares or purchasing shares in the open market.
In addition, the underwriter
may stabilize or maintain the price of our common stock by bidding for or purchasing shares in the open market and may impose penalty
bids. If penalty bids are imposed, selling concessions allowed to broker-dealers participating in this offering are reclaimed if
shares previously distributed in this offering are repurchased, whether in connection with stabilization transactions or otherwise.
The effect of these transactions may be to stabilize or maintain the market price of our common stock at a level above that which
might otherwise prevail in the open market. The imposition of a penalty bid may also affect the price of our common stock to the
extent that it discourages resales of our common stock. The magnitude or effect of any stabilization or other transactions is uncertain.
These transactions may be effected on the Nasdaq Capital Market or otherwise and, if commenced, may be discontinued at any time.
In connection with
this offering, the underwriter and selling group members, if any, may also engage in passive market making transactions in our
common stock on the Nasdaq Capital Market. Passive market making consists of displaying bids on the Nasdaq Capital Market by the
prices of independent market makers and effecting purchases limited by those prices in response to order flow. Rule 103 of
Regulation M promulgated by the SEC limits the amount of net purchases that each passive market maker may make and the displayed
size of each bid. Passive market making may stabilize the market price of our common stock at a level above that which might otherwise
prevail in the open market and, if commenced, may be discontinued at any time.
Neither we nor the
underwriter make any representation or prediction as to the direction or magnitude of any effect that the transactions described
above may have on the price of our common stock. In addition, neither we nor the underwriter make any representation that the underwriter
will engage in these transactions or that any transaction, if commenced, will not be discontinued without notice.
Affiliations
The underwriter and
its respective affiliates are full service financial institutions engaged in various activities, which may include securities trading,
commercial and investment banking, financial advisory, investment management, investment research, principal investment, hedging,
financing and brokerage activities. The underwriter may in the future engage in investment banking and other commercial dealings
in the ordinary course of business with us or our affiliates. The underwriter may in the future receive customary fees and commissions
for these transactions.
In the ordinary course
of their various business activities, the underwriter and its respective affiliates may make or hold a broad array of investments
and actively trade debt and equity securities (or related derivative securities) and financial instruments (including bank loans)
for their own account and for the accounts of their customers, and such investment and securities activities may involve securities
and/or instruments of the issuer. The underwriter and its respective affiliates may also make investment recommendations and/or
publish or express independent research views in respect of such securities or instruments and may at any time hold, or recommend
to clients that they acquire, long and/or short positions in such securities and instruments.
Electronic Offer, Sale and Distribution
In connection with
this offering, the underwriter or certain of the securities dealers may distribute prospectuses by electronic means, such as e-mail. In
addition, the underwriter may facilitate Internet distribution for this offering to certain of their internet subscription customers.
The underwriter may allocate a limited number of shares for sale to their online brokerage customers. An electronic prospectus
is available on the Internet websites maintained by any such underwriter. Other than the prospectus in electronic format, the information
on the websites of the underwriter are not part of this prospectus.
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25
-
Listing
The shares are listed
on the Nasdaq Capital Market under the symbol "HYRE."
Selling Restrictions
Canada
.
The securities may be sold in Canada only to purchasers purchasing, or deemed to be purchasing, as principal that are accredited
investors, as defined in National Instrument 45 106
Prospectus Exemptions
or subsection 73.3(1) of the Securities
Act (Ontario), and are permitted clients, as defined in National Instrument 31 103
Registration Requirements, Exemptions
and Ongoing Registrant Obligations
. Any resale of the securities must be made in accordance with an exemption from, or in a
transaction not subject to, the prospectus requirements of applicable securities laws.
Securities legislation
in certain provinces or territories of Canada may provide a purchaser with remedies for rescission or damages if this prospectus
(including any amendment thereto) contains a misrepresentation, provided that the remedies for rescission or damages are exercised
by the purchaser within the time limit prescribed by the securities legislation of the purchaser's province or territory.
The purchaser should refer to any applicable provisions of the securities legislation of the purchaser's province or territory
for particulars of these rights or consult with a legal advisor.
Pursuant to section
3A.3 of National Instrument 33 105
Underwriting Conflicts
(NI 33 105), the underwriter is not required to comply
with the disclosure requirements of NI 33 105 regarding underwriter conflicts of interest in connection with this offering.
European Economic
Area
. In relation to each Member State of the European Economic Area which has implemented the Prospectus Directive
(each, a "Relevant Member State") an offer to the public of any shares of our common stock may not be made in that
Relevant Member State, except that an offer to the public in that Relevant Member State of any shares of our common stock may be
made at any time under the following exemptions under the Prospectus Directive, if they have been implemented in that Relevant
Member State:
●
to any legal entity which is a qualified investor as defined in the Prospectus Directive;
●
to fewer than 100 or, if the Relevant Member State has implemented the relevant provision of the 2010 PD Amending Directive, 150, natural or legal persons (other than qualified investors as defined in the Prospectus Directive), as permitted under the Prospectus Directive, subject to obtaining the prior consent of the representatives for any such offer; or
●
in any other circumstances falling within Article 3(2) of the Prospectus Directive, provided that no such offer of shares of our common stock shall result in a requirement for the publication by us or any underwriter of a prospectus pursuant to Article 3 of the Prospectus Directive.
For the purposes of
this provision, the expression an "offer to the public" in relation to any shares of our common stock in any Relevant
Member State means the communication in any form and by any means of sufficient information on the terms of the offer and any shares
of our common stock to be offered so as to enable an investor to decide to purchase any shares of our common stock, as the same
may be varied in that Member State by any measure implementing the Prospectus Directive in that Member State, the expression "Prospectus
Directive" means Directive 2003/71/EC (and amendments thereto, including the 2010 PD Amending Directive, to the extent implemented
in the Relevant Member State), and includes any relevant implementing measure in the Relevant Member State, and the expression
"2010 PD Amending Directive" means Directive 2010/73/EU.
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26
-
United Kingdom
. The
underwriter has represented and agreed that:
●
it has only communicated or caused to be communicated and will only communicate or cause to be communicated an invitation or inducement to engage in investment activity (within the meaning of Section 21 of the Financial Services and Markets Act 2000 (the "FSMA")) received by it in connection with the issue or sale of the shares of our common stock in circumstances in which Section 21(1) of the FSMA does not apply to us; and
●
it has complied and will comply with all applicable provisions of the FSMA with respect to anything done by it in relation to the shares of our common stock in, from or otherwise involving the United Kingdom.
Switzerland
.
The
shares may not be publicly offered in Switzerland and will not be listed on the SIX Swiss Exchange (the "SIX") or on
any other stock exchange or regulated trading facility in Switzerland. This document has been prepared without regard to the disclosure
standards for issuance prospectuses under art. 652a or art. 1156 of the Swiss Code of Obligations or the disclosure standards for
listing prospectuses under art. 27 ff. of the SIX Listing Rules or the listing rules of any other stock exchange or regulated trading
facility in Switzerland. Neither this document nor any other offering or marketing material relating to the shares or the offering
may be publicly distributed or otherwise made publicly available in Switzerland.
Neither this document
nor any other offering or marketing material relating to the offering, or the shares have been or will be filed with or approved
by any Swiss regulatory authority. In particular, this document will not be filed with, and the offer of shares will not be supervised
by, the Swiss Financial Market Supervisory Authority FINMA, and the offer of shares has not been and will not be authorized under
the Swiss Federal Act on Collective Investment Schemes ("CISA"). Accordingly, no public distribution, offering or advertising,
as defined in CISA, its implementing ordinances and notices, and no distribution to any non-qualified investor, as defined
in CISA, its implementing ordinances and notices, shall be undertaken in or from Switzerland, and the investor protection afforded
to acquirers of interests in collective investment schemes under CISA does not extend to acquirers of shares.
Australia
.
No
placement document, prospectus, product disclosure statement or other disclosure document has been lodged with the Australian Securities
and Investments Commission ("ASIC"), in relation to the offering.
This prospectus does
not constitute a prospectus, product disclosure statement or other disclosure document under the Corporations Act 2001 (the "Corporations
Act"), and does not purport to include the information required for a prospectus, product disclosure statement or other disclosure
document under the Corporations Act.
Any offer in Australia
of the shares may only be made to persons (the "Exempt Investors") who are "sophisticated investors" (within
the meaning of section 708(8) of the Corporations Act), "professional investors" (within the meaning of section 708(11)
of the Corporations Act) or otherwise pursuant to one or more exemptions contained in section 708 of the Corporations Act so that
it is lawful to offer the shares without disclosure to investors under Chapter 6D of the Corporations Act.
The shares applied
for by Exempt Investors in Australia must not be offered for sale in Australia in the period of 12 months after the date of allotment
under the offering, except in circumstances where disclosure to investors under Chapter 6D of the Corporations Act would not be
required pursuant to an exemption under section 708 of the Corporations Act or otherwise or where the offer is pursuant to a disclosure
document which complies with Chapter 6D of the Corporations Act. Any person acquiring shares must observe such Australian on-sale restrictions.
This prospectus contains
general information only and does not take account of the investment objectives, financial situation or particular needs of any
particular person. It does not contain any securities recommendations or financial product advice. Before making an investment
decision, investors need to consider whether the information in this prospectus is appropriate to their needs, objectives and circumstances,
and, if necessary, seek expert advice on those matters.
Israel
. In
the State of Israel this prospectus shall not be regarded as an offer to the public to purchase securities under the Israeli Securities
Law, 5728 - 1968, which requires a prospectus to be published and authorized by the Israel Securities Authority, if it complies
with certain provisions of Section 15 of the Israeli Securities Law, 5728 - 1968, including, inter alia, if: (i) the
offer is made, distributed or directed to not more than 35 investors, subject to certain conditions, or the Addressed Investors;
or (ii) the offer is made, distributed or directed to certain qualified investors defined in the First Addendum of the Israeli
Securities Law, 5728 - 1968, subject to certain conditions, or the Qualified Investors. The Qualified Investors shall not be taken
into account in the count of the Addressed Investors and may be offered to purchase securities in addition to the 35 Addressed
Investors. Our company has not and will not take any action that would require it to publish a prospectus in accordance with and
subject to the Israeli Securities Law, 5728 - 1968. We have not and will not distribute this prospectus or make, distribute or
direct an offer to subscribe for our securities to any person within the State of Israel, other than to Qualified Investors and
up to 35 Addressed Investors.
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27
-
Qualified Investors
may have to submit written evidence that they meet the definitions set out in of the First Addendum to the Israeli Securities Law,
5728 - 1968. In particular, we may request, as a condition to be offered securities, that Qualified Investors will each represent,
warrant and certify to us or to anyone acting on our behalf: (i) that it is an investor falling within one of the categories
listed in the First Addendum to the Israeli Securities Law, 5728 - 1968; (ii) which of the categories listed in the First Addendum
to the Israeli Securities Law, 5728 - 1968 regarding Qualified Investors is applicable to it; (iii) that it will abide by
all provisions set forth in the Israeli Securities Law, 5728 - 1968 and the regulations promulgated thereunder in connection with
the offer to be issued securities; (iv) that the securities that it will be issued are, subject to exemptions available under
the Israeli Securities Law, 5728 - 1968: (a) for its own account; (b) for investment purposes only; and (c) not issued
with a view to resale within the State of Israel, other than in accordance with the provisions of the Israeli Securities Law, 5728
- 1968; and (v) that it is willing to provide further evidence of its Qualified Investor status. Addressed Investors may have
to submit written evidence in respect of their identity and may have to sign and submit a declaration containing, inter alia, the
Addressed Investor's name, address and passport number or Israeli identification number.
LEGAL MATTERS
The validity of the
shares of our common stock offered hereby will be passed upon for us by Sheppard, Mullin, Richter & Hampton LLP, New York,
New York. Certain legal matters will be passed upon for the underwriter by Faegre Baker Daniels LLP, Minneapolis, Minnesota.
EXPERTS
Our financial statements
as of December 31, 2018 and 2017 appearing in this prospectus and the registration statement, of which it forms a part,
have been audited by dbb
mckennon
, independent registered public accounting firm, as set forth in their report thereon appearing
elsewhere herein, and are included in reliance on such report given on the authority of such firm as experts in accounting and
auditing.
WHERE YOU CAN FIND MORE INFORMATION
This prospectus, which
constitutes a part of the registration statement on Form S-1 that we have filed with the SEC under the Securities Act, does not
contain all of the information in the registration statement and its exhibits. For further information with respect to us and the
common stock offered by this prospectus, you should refer to the registration statement and the exhibits filed as part of that
document. Statements contained in this prospectus as to the contents of any contract or any other document referred to are not
necessarily complete, and in each instance, we refer you to the copy of the contract or other document filed as an exhibit to the
registration statement. Each of these statements is qualified in all respects by this reference.
We are subject to the
reporting requirements of the Exchange Act and file annual, quarterly and current reports, proxy statements and other information
with the SEC. You can read our SEC filings, including the registration statement, over the Internet at the SEC's website
at
http://www.sec.gov
. We also maintain a website at
http://www.hyrecar.com
, at which you may access these
materials free of charge as soon as reasonably practicable after they are electronically filed with, or furnished to, the SEC.
The information contained in, or that can be accessed through, our website is not part of this prospectus.
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28
-
3,500,000
Shares
HyreCar Inc.
Common
Stock
PROSPECTUS
Northland
Capital Markets
,
2019
Part II
INFORMATION NOT REQUIRED IN PROSPECTUS
Item 13.    Other Expenses of Issuance
and Distribution.
The following table
indicates the expenses to be incurred in connection with the offering described in this registration statement, other than underwriting
discount, all of which will be paid by us. All amounts are estimated except the Securities and Exchange Commission registration
fee, the Financial Industry Regulatory Authority, Inc., or FINRA, filing fee and the Nasdaq listing fee.
Amount
SEC registration fee
$
1,620
FINRA filing fee
2,750
Accounting fees and expenses
50,000
Legal fees and expenses
125,000
Underwriter legal fees and expenses
150,000
Transfer Agent's fees and expenses
2,500
Printing and engraving expenses
10,000
Miscellaneous
8,130
Total Expenses
$
350,000
Item 14.    Indemnification of Directors
and Officers.
The Registrant is governed
by the Delaware General Corporation Law, or DGCL. Section 145 of the DGCL provides that a corporation may indemnify any person,
including an officer or director, who was or is, or is threatened to be made, a party to any threatened, pending or completed legal
action, suit or proceeding, whether civil, criminal, administrative or investigative (other than an action by or in the right of
such corporation), by reason of the fact that such person was or is an officer, director, employee or agent of such corporation
or is or was serving at the request of such corporation as a director, officer, employee or agent of another corporation or enterprise.
The indemnity may include expenses (including attorneys' fees), judgments, fines and amounts paid in settlement actually
and reasonably incurred by such person in connection with such action, suit or proceeding, provided such officer, director, employee
or agent acted in good faith and in a manner such person reasonably believed to be in, or not opposed to, the corporation's
best interest and, for criminal proceedings, had no reasonable cause to believe that such person's conduct was unlawful.
A Delaware corporation may indemnify any person, including an officer or director, who was or is, or is threatened to be made,
a party to any threatened, pending or contemplated action or suit by or in the right of such corporation, under the same conditions,
except that such indemnification is limited to expenses (including attorneys' fees) actually and reasonably incurred by such
person, and except that no indemnification is permitted without judicial approval if such person is adjudged to be liable to such
corporation. Where an officer or director of a corporation is successful, on the merits or otherwise, in the defense of any action,
suit or proceeding referred to above, or any claim, issue or matter therein, the corporation must indemnify that person against
the expenses (including attorneys' fees) which such officer or director actually and reasonably incurred in connection therewith.
The Registrant's
amended and restated bylaws authorize the indemnification of its officers and directors, consistent with Section 145 of the
DGCL.
Reference is made to
Section 102(b)(7) of the DGCL, which enables a corporation in its original certificate of incorporation or an amendment thereto
to eliminate or limit the personal liability of a director for violations of the director's fiduciary duty, except (i) for
any breach of the director's duty of loyalty to the corporation or its stockholders, (ii) for acts or omissions not
in good faith or which involve intentional misconduct or a knowing violation of law, (iii) pursuant to Section 174 of
the DGCL, which provides for liability of directors for unlawful payments of dividends of unlawful stock purchase or redemptions
or (iv) for any transaction from which a director derived an improper personal benefit.
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1
We have entered into
indemnification agreements with each of our directors and officers. These indemnification agreements may require us, among other
things, to indemnify our directors and officers for some expenses, including attorneys' fees, judgments, fines and settlement
amounts incurred by a director or officer in any action or proceeding arising out of his or her service as one of our directors
or officers, or any of our subsidiaries or any other company or enterprise to which the person provides services at our request.
We maintain a general
liability insurance policy that covers certain liabilities of directors and officers of our corporation arising out of claims based
on acts or omissions in their capacities as directors or officers.
In any underwriting
agreement we enter into in connection with the sale of common stock being registered hereby, the underwriter will agree to indemnify,
under certain conditions, us, our directors, our officers and persons who control us within the meaning of the Securities Act against
certain liabilities.
Item 15.    Recent Sales of Unregistered
Securities.
Set forth below is information regarding
all unregistered securities sold by us within the past three years.
1. Sales of Convertible Promissory Notes
and Warrants
●
From June 2016 to September 2016, the company issued and sold convertible promissory notes to a total of 13 investors for an aggregate principal amount of $500,000.
●
In April 2017 and May 2017, the company issued and sold promissory notes to three investors for an aggregate principal amount of $350,000 and issued warrants to purchase up to 200,000 shares of common stock at an exercise price of $2.10 per share.
●
Between
                                    January 2018 and April 2018, the company issued and sold senior secured convertible promissory notes to 10 accredited
                                    investors for an aggregate principal amount of $3,046,281 and issued warrants to purchase up to 50% of the shares receivable
                                    upon conversion of such notes at an exercise price equal to one-hundred and twenty-five percent (125%) of the conversion
                                    price of such notes.
The notes provided that the principal and all accrued and unpaid interest on the notes were
                                    convertible into shares of common stock at a conversion rate equal to the lesser of $2.5480 per share or seventy percent
                                    (70%) of the IPO price per share. Upon pricing the IPO, at the option of the holders, all outstanding principal plus accrued
                                    interest underlying the 2018 Convertible Notes was converted into 1,231,165 shares of common stock at a conversion rate of
                                    $2.5480.
The company also agreed to issue the
                                    placement agent for this offering, non-callable five year warrants to purchase up to 119,556 shares of common
                                    stock, which is equal to ten percent (10%) of the aggregate number of shares of common stock issuable upon conversion of the
                                    principal amount of the senior secured convertible promissory notes, at an exercise price of $2.80 per share. Certain
                                    brokers who are dually-registered with third-party broker/dealer and the representative have forfeited their warrants to
                                    purchase an aggregate of 104,101 shares of common stock.
2. Preferred Stock Issuances
●
From August 2016 to February 2017, the company issued and sold 1,407,671 shares of Series Seed 1 Convertible Preferred Stock to one accredited investor at a purchase price of $0.71 per share.
●
In February 2017, the convertible promissory notes issued between June 2016 and September 2016 were converted into 943,908 shares of Series Seed 1 Convertible Preferred Stock and an additional 78,059 shares were issued as advisor shares.
●
In June 2018, in connection with our IPO, all of our outstanding preferred stock converted into 2,429,638 shares of our common stock.
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2
3. 2016 Equity Incentive Plan-Related
Issuances
●
From April 2016 to October 2017, the company granted its directors, officers, employees, consultants and other service providers options to purchase 1,021,171 shares of common stock with per share exercise prices ranging from $0.71 to $1.75 under the 2016 Equity Incentive Plan.
●
In February 2018, the company granted its directors, officers, employees, consultants and other service providers options to purchase 320,000 shares of common stock at a per share exercise price of $1.75 under the 2016 Equity Incentive Plan.
4. 2018 Equity Incentive Plan-Related
Issuances
●
From June 2018 to July October 2018, the company granted to its directors and officers options to purchase 512,500 shares of common stock with a per share exercise prices ranging from $2.21 to $5.00 under the 2018 Equity Incentive Plan.
●
In January 2019, the company granted its directors and officers options to purchase 975,000 shares of common stock with a per share exercise prices of $3.20 under the 2018 Equity Incentive Plan.
5. Other Common Stock Issuances
●
On or near November 24, 2014, the company issued 4,346,882 shares of common stock to its four founders subject to vesting over a period of four years. In 2016 and 2015, a total of 624,865 and 1,005,217 shares were forfeited by founders due a settlement, termination, or as agreed upon. On August 27, 2016, the company eliminated any additional vesting terms and all shares held at such time by founders were deemed vested.
●
Since September
    2016, the company issued 1,032,387 shares of restricted common stock to a director, officers and an employee that vest as
    follows: 33% upon a sale of securities for gross proceeds of at least $250,000 in one or more transactions and the remaining
    67% vest monthly over three years, becoming fully vested in April 2019. For consideration of these shares, the related
    parties entered into note agreements totaling $138,700 that call for the principal and interest to be paid back in ten years
    from the date of the loan. The notes bear interest at 1%. The loans are secured by the related shares of common stock. On May
    31, 2018, an aggregate of $131,400 in principal was repaid and terminated along with accrued interest thereon. The remaining
    balance of $7,447 is outstanding to a related party that is not serving as an officer or director of the Company. If any
    portion of the shares held by the related party are forfeited, the pro-rata portion of the note will be relieved.
●
From June 2017 to November 2017, the company issued and sold 1,236,588 shares of common stock to 68 accredited investors at a purchase price of $1.75 per share. In connection with this financing, the company issued to the placement agent a warrant to purchase up to 123,659 shares of common stock at an exercise price equal to $2.00 per share. On June 22, 2018, such warrants were amended to (i) decrease the amount of shares that can be purchased at an exercise price of $2.00 per share to 60,392 shares of common stock and (ii) reduce the remaining 63,267 shares to 28,993 shares at a modified exercise price of $7.50 per share due to the fact that they were earned
180 days immediately preceding the required filing date of the registration statement
.
●
In February 2018, the company issued 264,285 restricted shares of common stock to three consultants for services pursuant to a consulting agreement with each consultant. This restricted stock shall vest upon a qualified financing event, defined in each agreement as a financing of $10,000,000, on or before December 31, 2018. If a qualified financing event does not occur on or before December 31, 2018, all stock is forfeited.
●
On June 1, 2018, the Company agreed to issue a warrant to purchase 100,000 shares of common stock to a consultant for services to be rendered, which warrant is exercisable for a period of five years at an exercise price per share equal to $5.00 per share.
●
In June 15, 2018,
    the company agreed to issue 10,000 shares of common stock to a consultant for services pursuant to a consulting agreement
    upon consummation of the company's initial public offering.  In addition, subject to the achievement of
    certain company milestones based on gross billings, average daily active rentals or the company's market
    capitalization, the consultant may be issued up to an additional 825,000 shares of common stock; provided; however, that if
    the company sells all or substantially all of its assets or equity representing 50% or more of the voting power of the
    company, then any shares not previously issued will be issued upon the closing of such transaction.
●
On June 2018, the Company agreed to issue a warrant to purchase 150,000 shares of common stock to a consultant for services to be rendered. The warrant is exercisable for a period of three years at an exercise price per share equal to the offering price in the IPO, which was $5.00 per share.
●
In January 2019, we issued 10,000 shares of our common stock to a consultant of the Company in consideration of services to be provided.
●
In March 2019, we issued 443,467 shares of our common stock upon the exercise of outstanding warrants.
●
In April 2019, we issued 100,000 shares of our common stock to a service provider of the Company in consideration of services to be provided.
●
In June 2019, we issued 5,000 shares of our common stock to a consultant of the Company in consideration of services to be provided.
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3
Unless otherwise stated,
the issuances of the above securities were deemed to be exempt from registration under the Securities Act in reliance upon Section 4(a)(2)
of the Securities Act or Regulation D promulgated thereunder, or Rule 701 promulgated under Section 3(b) of the
Securities Act as transactions by an issuer not involving any public offering or pursuant to benefit plans and contracts relating
to compensation as provided under Rule 701. Individuals who purchased securities as described above represented their intention
to acquire the securities for investment only and not with a view to or for sale in connection with any distribution thereof, and
appropriate legends were affixed to the share certificates issued in such transactions.
Item 16.    Exhibits and Financial
Statement Schedules.
(a)
Exhibits.
Exhibit
    Number
Exhibit
1.1*
Form of Underwriting Agreement
3.1
Amended and Restated Certificate of Incorporation (incorporated by reference to the Registrant's Registration Statement on Form S-1 (File No. 333-225157)
3.2
Amended and Restated Bylaws (incorporated by reference to the Registrant's Registration Statement on Form S-1 (File No. 333-225157)
4.1
Specimen Stock Certificate evidencing the shares of common stock (incorporated by reference to the Registrant's Registration Statement on Form S-1 (File No. 333-225157)
5.1
**
Opinion
    of Sheppard, Mullin, Richter & Hampton LLP
10.1+
Employment Agreement between the Company and Joseph Furnari (incorporated by reference to the Registrant's Registration Statement on Form S-1/A (File No. 333-225157)
10.2+
Employment Agreement between the Company and Michael Furnari (incorporated by reference to the Registrant's Registration Statement on Form S-1/A (File No. 333-225157)
10.3+
Oral Employment Arrangement between the Company and Abhishek Arora (incorporated by reference to the Registrant's Registration Statement on Form S-1/A (File No. 333-225157)
10.4+
2016 Equity Incentive Plan and forms of award agreements thereunder (incorporated by reference to the Registrant's Registration Statement on Form S-1/A (File No. 333-225157)
10.5+
2018 Equity Incentive Plan and forms of award agreements thereunder (incorporated by reference to the Registrant's Registration Statement on Form S-8 (File No. 333-229222)
23.1*
Consent
    of dbb
mckennon
23.2**
Consent
    of Opinion of Sheppard, Mullin, Richter & Hampton LLP (included in Exhibit 5.1)
24.1
Power of Attorney (included on signature page)
*
Filed herewith
**
To be filed by amendment.
+
Indicates a management contract or compensatory plan or arrangement
(b)
Financial Statement Schedules. Schedules not listed above have been omitted because the information required to be set forth therein is not applicable or is shown in the financial statements or notes thereto.
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4
Item 17.    Undertakings.
(a)
The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933,
each filing of the registrant's annual report pursuant to section 13(a) or section 15(d) of the Securities Exchange Act of
1934 (and, where applicable, each filing of an employee benefit plan's annual report pursuant to section 15(d) of the Securities
Exchange Act of 1934) that is incorporated by reference in the registration statement shall be deemed to be a new registration
statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the
initial bona fide offering thereof.
(b) Insofar as indemnification
for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the
registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities
and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable.
In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred
or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding)
is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant
will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed
by the final adjudication of such issue.
(c) The undersigned
hereby undertakes that:
(1) For purposes of determining
any liability under the Securities Act, the information omitted from the form of prospectus filed as part of this registration
statement in reliance upon Rule 430A and contained in a form of prospectus filed by the registrant pursuant to Rule 424(b)(1)
or (4) or 497(h) under the Securities Act shall be deemed to be part of this registration statement as of the time it was
declared effective.
(2) For the purpose of determining
any liability under the Securities Act, each post-effective amendment that contains a form of prospectus shall be deemed to be
a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall
be deemed to be the initial bona fide offering thereof.
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5
SIGNATURES
Pursuant to the
requirements of the Securities Act, the registrant has duly caused this registration statement to be signed on its behalf by
the undersigned, thereunto duly authorized, in the City of Los Angeles, State of California, on this
16th day of July, 2019.
HYRECAR INC.
By:
/s/
Joseph Furnari
Joseph Furnari
Chief Executive Officer
SIGNATURES AND POWER OF ATTORNEY
Each of the undersigned
officers and directors of HyreCar Inc. hereby constitutes and appoints Joseph Furnari and Scott Brogi, and each of them, either
of whom may act without joinder of the other, the individual's true and lawful attorneys-in-fact and agents, each with full
power of substitution and resubstitution, for the person and in his or her name, place and stead, in any and all capacities, to
sign this registration statement of HyreCar Inc. on Form S-1, and any other registration statement relating to the same
offering (including any registration statement, or amendment thereto, that is to become effective upon filing pursuant to Rule 462(b)
under the Securities Act of 1933, as amended), and any and all amendments thereto (including post-effective amendments to the registration
statement), and to file the same, with all exhibits thereto, and all other documents in connection therewith, with the Securities
and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and
perform each and every act and thing requisite and necessary to be done in connection therewith, as fully to all intents and purposes
as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or any of
them, or their substitute or substitutes, may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements
of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities held and
on the dates indicated.
Signature
Title
Date
/s/
Joseph Furnari
Chief
    Executive Officer and Director
July
    16, 2019
Joseph
    Furnari
(Principal
    Executive Officer)
/s/
Scott Brogi
Chief
    Financial Officer
July
    16, 2019
Scott
    Brogi
(Principal Financial
    and Accounting Officer)
/s/
Grace Mellis
Chairman
    of the Board of Directors
July
    16, 2019
Grace
    Mellis
/s/
Michael Root
Director
July
    16, 2019
Michael
    Root
/s/
Brooke Skinner Ricketts
Director
July
    16, 2019
Brooke
    Skinner Ricketts
/s/
Jayaprakash Vijayan
Director
July
    16, 2019
Jayaprakash
    Vijayan
II-6