Workhorse Group, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Long-Term Debt (Details Textual)

Long-Term Debt (Details Textual)			1 Months Ended		12 Months Ended
Long-Term Debt (Details Textual)	Jul. 06, 2018 USD ($) $ / shares shares	Jun. 07, 2018 USD ($)	Aug. 02, 2018 USD ($)	Dec. 26, 2017 USD ($)	Dec. 31, 2018 USD ($) Customer $ / shares shares	Dec. 31, 2017 USD ($)	Oct. 01, 2018 $ / shares shares	Aug. 14, 2018 $ / shares shares
Long-Term Debt (Textual)
Aggregate principal amount					$ 10,000,000
Amortization expense					$ 3,610,589
Related parties notes, description					Assured Partners LP received revenue of approximately $79 thousand on insurance policies totaling approximately $658 thousand in premiums in 2018.
Issuance costs					$ 70,047
Credit agreement, description					In addition to other items, require the Company to maintain (i) minimum liquidity of at least $4 million at all times on or after March 31, 2019, (ii) a maximum total leverage ratio (ratio of total debt borrowed by the Company to EBITDA for the four consecutive fiscal quarters most recently ended, subject to certain adjustments set forth in the Credit Agreement) not to exceed 4.50:1.00 on the last day of the quarter ended September 30, 2019, which total leverage ratio is adjusted for subsequent quarters as set forth in the Credit Agreement and (iii) a maximum debt service coverage ratio (ratio of EBITDA (for the four consecutive fiscal quarters most recently ended, subject to certain adjustments set forth in the Credit Agreement) to interest expense and payments for operating leases) not to exceed 1.25:1.00 on the last day of the quarter ended September 30, 2019, which debt service coverage ratio is adjusted for subsequent quarters as set forth in the Credit Agreement.
Interest rate payable					7.625%
Value of warrants					$ (1,527,414)
Arosa [Member]
Long-Term Debt (Textual)
Warrants to purchase of common stock shares \| shares					894,821
Warrants exercise price \| $ / shares					$ 1.25
Loss on extinguishment					$ 2,200,000
Related Parties Notes [Member]
Long-Term Debt (Textual)
Debt due date		December 6, 2018
Aggregate principal amount		$ 550,000
Excess of equity financing		$ 10,000,000
Related parties notes, description		Under no circumstance may the Related Parties Notes be paid off on or prior to the 91st day following the maturity date of the Senior Secured Notes issued by the Company on December 27, 2017. Interest accrued on the Related Parties Notes at the rate of 12.0% per annum.
Loan Parties Notes [Member]
Long-Term Debt (Textual)
Aggregate principal amount	$ 500,000
Senior Secured Notes (Member)
Long-Term Debt (Textual)
Percentage of interest payable					26.00%
Debt due date					July 6, 2018
Aggregate principal amount				$ 5,750,000
Amortization expense					$ 987,500
Consideration of gross proceeds paid by spin-off investors				$ 5,000,000
Note Payable Former Building Owner [Member]
Long-Term Debt (Textual)
Monthly installments					$ 1,604
Percentage of interest payable					5.50%
Balloon payment					$ 350,000
Debt due date					August 2018
Secured Mortgage Payable [Member]
Long-Term Debt (Textual)
Number of Commerce Drive Building \| Customer					100
Monthly installments					$ 11,951
Percentage of interest payable					6.50%
Debt due date					November 2026
Loans Payable (Member)
Long-Term Debt (Textual)
Percentage of interest payable					8.00%
Debt due date					July 6, 2019
Gross proceeds					$ 10,000,000
Debt discount					$ 1,687,921
Credit Agreement [Member]
Long-Term Debt (Textual)
Warrants to purchase of common stock shares \| shares					8,053,390
Warrants exercise price \| $ / shares					$ 1.25
Warrants to purchase common stock, description					The Company will be required to issue additional Common Stock Purchase Warrants (the "Additional Warrants") to the Lenders equal to 10%, in the aggregate, of any additional issuance, subject to certain exceptions, on substantially the same terms and conditions of the Initial Warrants, except that (i) the applicable expiration date thereof shall be five years from the issuance date of the applicable warrant, (ii) the initial exercise price shall be a price equal to the price per share of common stock used in the relevant issuance multiplied by 110% and (iii) the holder shall be entitled to exercise the warrant on a cashless exercise at any time the warrant is exercisable.
Value of warrants					$ 965,747
Percentage of fee paid equal to loan					2.00%
Credit Agreement [Member] \| Tranche 1 [Member]
Long-Term Debt (Textual)
Debt discount					$ 722,174
Percentage of fee paid equal to loan					1.00%
Credit Agreement [Member] \| Tranche 2 [Member]
Long-Term Debt (Textual)
Value of warrants					$ 69,744
Prepaid asset					$ 1,830,435
Percentage of fee paid equal to loan					1.00%
Credit Agreement [Member] \| Loan Parties Notes [Member]
Long-Term Debt (Textual)
Credit agreement, description					The Company is required to prepay the Loans utilizing 100% of the net proceeds from any casualty event or the issuance or incurrence of debt and 50% of the net proceeds from any disposition. If the Company receives net cash proceeds from the issuance of capital stock after the nine-month anniversary of the closing date, the Company is required to prepay the Loans utilizing 35% of the net cash proceeds from such issuance. With limited exceptions, if the Company prepays any portion of the Tranche One Loans or the Tranche Two Loans (with the concomitant termination of the portion of the commitments under the Tranche Two Loans that is repaid) during the 12 months following the closing date, it is required to pay 100% of the interest that would have been due on such prepaid Loans if the prepaid amounts had been outstanding for a period of 12 months after the date of prepayment. If such prepayment occurs during the period beginning after the 12-month anniversary of the closing date and continuing through the 18-month anniversary of the closing date, the Company is required to pay 50% of the interest that would have been due on such prepaid Loans for the 12-month period following the date of such prepayment on a prorated basis.
Loan Agreement [Member]
Long-Term Debt (Textual)
Percentage of interest payable	8.00%
Aggregate principal amount	$ 6,100,000
Debt maturity date	Jul. 06, 2019
Excess of equity financing	$ 10,000,000
Proceeds from issuance of loan	20,000,000
Loan payable	$ 350,000		$ 1,850,000
Warrants to purchase of common stock shares \| shares	5,000,358
Warrants exercise price \| $ / shares	$ 2.00						$ 1.60	$ 1.21
Warrants to purchase common stock, description	The Arosa Loan remains outstanding, the Company will be required to issue additional warrants to purchase common stock to Arosa equal to 10% of any additional issuance excluding issuances under an approved stock plan. The additional warrants to purchase common stock have an exercise price equal to the lesser of $2.00 or a 5% premium to the price utilized in such financing. Pursuant to the warrant, Arosa may not exercise such warrant if such exercise would result in Arosa beneficially owning in excess of 9.99% of the Company’s then issued and outstanding common stock.
Loan additional amount			$ 1,700,000
Warrants issued \| shares							108,768	1,143,200
Credit agreement, description					The Credit Agreement provided the Company with a $10 million tranche of term loans (the "Tranche One Loans") which may not be re-borrowed following repayment and (ii) a $25 million tranche of term loans which may be re-borrowed following repayment (the "Tranche Two Loans" together with the Tranche One Loans, the "Loans"). The Company used the proceeds for the Tranche One Loans (x) to pay off a loan provided by Arosa in the principal amount of $7.8 million plus interest and (y) for working capital purposes. Draws from the Tranche Two Loans will be used in connection with vehicle production and are subject to the Company's receipt of purchase orders.
Warrants to purchase common stock, terms	5 years
Loan Agreement [Member] \| Arosa [Member]
Long-Term Debt (Textual)
Value of warrants	$ 3,540,542
June 30, 2020 [Member]
Long-Term Debt (Textual)
Loan payable					$ 500,000
December 31, 2020 [Member]
Long-Term Debt (Textual)
Loan payable					500,000
June 30, 2021 [Member]
Long-Term Debt (Textual)
Loan payable					$ 500,000
January 5, 2019 [Member]
Long-Term Debt (Textual)
Excess of equity financing	$ 10,000,000
Interest rate, percentage	12.00%