Company: SOBR
Filing Date: 2025-05-16
Form Type: 10-Q/A
Source: 0001477932-25-003898
Chunk: 15

Company: SOBR Safe, Inc.
Filing Date: 2025-05-16
Form: 10-Q/A
Chunk 15
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 31, 2025, provide adequate capital for operating activities for the next twelve months after the date these financial statements are issued. Management believes the release of its second generation SOBRsure device in the fourth quarter of 2024 and a comprehensive 2025 marketing plan have positioned the Company to generate improvement in the generation of both revenue and positive cash flows from sales. These plans are contingent upon the actions to be performed by the Company and these conditions have not been met on or before March 31, 2025. Management believes despite limited revenue generation and historical operating cash flows, adequate cash balances and working capital are sufficient to support ongoing operations for the next twelve months and the Company will continue as a going concern as of March 31, 2025.

NOTE 3. INVENTORY

Inventories consist of the following:

|                 |     | 2025 | March 31, |     | 2024 | December 31, |
|:----------------|:----|:-----|----------:|:----|:-----|-------------:|
| Component parts |     | $    |    59,081 |     | $    |       59,081 |
| Finished goods  |     |      |   134,787 |     |      |      165,794 |
| Inventory       |     | $    |   193,868 |     | $    |      224,875 |

| 13 |

NOTE 4. PREPAID EXPENSES

Prepaid expenses consist of the following:

|                  |     | 2025 | March 31, |     | 2024 | December 31, |
|:-----------------|:----|:-----|----------:|:----|:-----|-------------:|
| Insurance        |     | $    |    85,183 |     | $    |      165,041 |
| Deposit          |     |      |    40,736 |     |      |       15,736 |
| Other            |     |      |    63,563 |     |      |       11,860 |
| Prepaid expenses |     | $    |   189,482 |     | $    |      192,637 |

On July 1, 2024, the Company purchased annual general risk and director and officers insurance policies prepaying annual premiums of $ through an eight-month financing arrangement on the same date (see Note 8). The Company recorded