SOBR Safe(SOBR)

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SOBR Safe(SOBR) - 2023 Q2 - Quarterly Report
2023-08-09 21:16
Financial Performance - Revenues for the three months ended June 30, 2023, were $37,601, a significant increase from $1,500 in the same period of 2022[21]. - Gross profit for the six months ended June 30, 2023, was $38,829, compared to $1,900 for the same period in 2022, indicating a substantial improvement[21]. - Net loss for the six months ended June 30, 2023, was $5,475,650, a decrease of $282,415 from the net loss of $5,758,065 in the same period of 2022[180]. - Operating loss increased to $5,146,272 for the six months ended June 30, 2023, from $4,430,386 in the prior year, primarily due to increased general and administrative expenses[179]. - Net loss for the three months ended June 30, 2023, was $2,873,958, up from $188,381 in the prior year[166]. Expenses and Liabilities - Total operating expenses for the three months ended June 30, 2023, rose to $2.72 million, up from $2.59 million in the same period of 2022, reflecting an increase of approximately 5%[21]. - General and administrative expenses rose to $1,899,383, an increase of $540,903 from $1,358,480 in the same period of 2022[169]. - Interest expense decreased significantly by $1,703,832 to $434,310 for the six months ended June 30, 2023, due to the absence of default penalties included in the prior year[190]. - Total current liabilities decreased to $1.26 million as of June 30, 2023, from $2.82 million as of December 31, 2022, a reduction of approximately 55%[19]. Cash Flow and Assets - Cash and cash equivalents decreased to $5.68 million as of June 30, 2023, from $8.58 million as of December 31, 2022, a decline of about 34%[17]. - Cash balances were approximately $5,700,000 with positive working capital of $5,100,000 as of June 30, 2023, providing adequate working capital for the next twelve months[161]. - Net cash used in operating activities for the six months ended June 30, 2023, was $3,262,642, compared to $2,721,376 for the same period in 2022, indicating an increase in cash outflow[27]. Stock and Equity - The company issued 2,532,942 shares of common stock in a public equity offering, raising approximately $8,694,363 after issuance costs[23]. - The total common stock outstanding decreased from 8,778,555 shares at the beginning of 2022 to 7,803,139 shares by March 31, 2022[23]. - The company granted stock options and restricted stock units, resulting in an increase of $934,225 in paid-in capital[23]. - The Company raised $3,000,001 from the 2023 Debt Offering, issuing convertible notes with a principal amount of $3,529,412 and warrants to purchase up to 386,998 shares at an exercise price of $2.52 per share[99]. Revenue Recognition and Product Development - The company recognizes revenue when control of software products and services is transferred to customers, following a five-step process[51]. - The SOBRsure™ wearable wristband is in commercial production and available for sale in Q3 2023[154]. - The company executed customer agreements and began generating revenue from the SOBRcheck™ device since Q1 2022[153]. Internal Controls and Governance - The company identified and remediated two material weaknesses in internal controls over financial reporting as of June 30, 2023[211]. - The first material weakness was addressed by hiring a Chief Financial Officer, a Vice President of Finance and Accounting, and a Controller, enabling better segregation of duties[211]. - An independent consultant was retained to assess and document internal controls, which has now been completed[211]. Market Presence and Strategy - The company’s common stock began trading on the Nasdaq exchange under the ticker symbol "SOBR" on May 16, 2022, indicating a significant milestone in its market presence[30]. - The company integrates proprietary software with patented alcohol detection products, targeting primarily the North American market[8]. - The company anticipates needing additional capital for accelerated customer acquisition, advanced purchasing of materials, and potential global expansion[162].
SOBR Safe (SOBR) Investor Presentation - Slideshow
2023-05-18 18:22
✓ Transportation & warehousing - 5.7 MM, mfg. - 12 MM; construction 7.2 MM; source ✓ $600 fee per device, 30 users per device ✓ $30 per user per month Rehabilitation ✓ 15 MM U.S. adults have Alcohol Abuse Disorder, only 7.2% seek treatment; source ✓ $450 fee per device, $30 per user per month Copyright © 2023 SOBR Safe, Inc. All rights reserved. 16 Primary Competition - Breathalyzers Comparing SOBRcheck and Breathalyzers at Scale ✓ SOBRcheck is an instantaneous, hygienic solution ✓ Breathalyzers are a time- ...
SOBR Safe(SOBR) - 2023 Q1 - Quarterly Report
2023-05-15 20:23
Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________. Commission file number: 000-53316 SOBR SAFE, INC. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Exact name of registrant as specified in its charter) | Delaware | 26-0731818 | | --- ...
SOBR Safe(SOBR) - 2022 Q4 - Annual Report
2023-03-31 19:35
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☒ ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from_____________ to _____________. Commission file number 000-53316 SOBR SAFE, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or or ...
SOBR Safe(SOBR) - 2022 Q3 - Quarterly Report
2022-11-14 22:15
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________. Commission file number: 000-53316 SOBR SAFE, INC. (Exact name of registrant as specified in its charter) Delaware 26-0731818 (State ...
SOBR Safe(SOBR) - 2022 Q2 - Quarterly Report
2022-08-15 19:27
Commission file number: 000-53316 SOBR SAFE, INC. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________. (Exact name of registrant as specified in its charter) (State or other jurisdiction of ...
SOBR Safe(SOBR) - 2022 Q1 - Quarterly Report
2022-05-23 20:06
☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 Commission file number: 001-41396 SOBR SAFE, INC. (Exact name of registrant as specified in its charter) Delaware 26-0731818 (State or o ...
SOBR Safe(SOBR) - 2021 Q4 - Annual Report
2022-03-11 19:22
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☒ ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from_____________ to _____________. Commission file number 000-53316 SOBR SAFE, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or or ...
SOBR Safe(SOBR) - 2021 Q3 - Quarterly Report
2021-11-15 21:54
☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________. Commission file number: 000-53316 SOBR Safe, Inc. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 (Exact name of registrant as specified in its charter) Delaware 26-0731 ...
SOBR Safe(SOBR) - 2021 Q2 - Quarterly Report
2021-08-16 21:28
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________. Commission file number: 000-53316 SOBR Safe, Inc. (Exact name of registrant as specified in its charter) Delaware 26-0731818 ( ...