Company: SOBR
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001477932-25-008092
Chunk: 24

Company: SOBR Safe, Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 24
---
 period at an annual interest rate of 8.6% with monthly payments of $31,441 beginning August 2025.  On July 1, 2024, the Company entered into a financing agreement for payment of its annual insurance premiums for coverage from July 2024 through June 2025 totaling $330,083. The financing agreement required an initial down payment of $66,017 with the remaining amount of $264,066 financed for an eight-month period at an annual interest rate of 9.1% with monthly payments of $34,150 beginning in July 2024. The principal balance and any accrued interest related to the premium financing note payable was paid in full in March 2025.

NOTE 10. COMMON STOCK  The Company’s common stock transactions for the nine months ended September 30, 2025, consist of the following: The Company issued 579,219 shares of common stock upon exercise of warrants. The Company issued an additional 110 shares of common stock in connection with rounding provisions of the 1-for-10 reverse stock split effective on the Nasdaq Capital Markets, April 4, 2025. The Company’s common stock transactions for the nine months ended September 30, 2024, consist of the following: 

 19Table of Contents

The Company issued 105 shares of common stock for RSUs vested during 2024. The Company issued 5,215 shares of common stock upon conversion of a portion of the Convertible Notes issued in the 2023 Debt Offering. The Company issued 9,382 shares of common stock upon exercise of warrants.

NOTE 11. PREFERRED STOCK  On November 20, 2015, the Company’s Board of Directors authorized a class of stock designated as Preferred Stock with a par value of $0.00001 per share comprising 25,000,000, from which the Board of Director created a class of Preferred Stock designated as Series A Convertible Preferred Stock comprising 3,000,000 shares. As of September 30, 2025 and December 31, 2024, the Company did not have any Series A Convertible Preferred Stock issued or outstanding. On December 19, 2019, the Company’s Board of Directors created a class of Preferred Stock designated as 8% Series A-1 Convertible Preferred Stock comprising 2,000,000 shares. During 2020, the authorized shares were increased to 2,