Company: SOBR
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001477932-25-008092
Chunk: 68

Company: SOBR Safe, Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 2
Chunk 68
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30, 2025, and as of December 31, 2024, respectively, are as follows:

  September 30, 2025  December 31,2024  Change Cash $4,711,664  $8,384,042  $(3,672,378 )Total current assets  5,218,960   8,872,074   (3,653,114 )Total assets  7,190,287   11,171,203   (3,980,916 )Total current liabilities  1,222,562   1,276,889   (54,327 )Total liabilities $1,222,562  $1,368,882  $(146,320 )

Our total current assets and total assets decreased as of September 30, 2025, as compared to December 31, 2024, primarily due to a decrease in cash of $3,672,378, amortization of SOBRsafe Intellectual Technology and Right-of-Use assets of approximately $364,000, and lower inventory on hand of approximately $82,600, offset by an increase in prepaid expenses of approximately $121,000 and accounts receivable of approximately $8,000.

Our total current liabilities and total liabilities decreased as of September 30, 2025, as compared to December 31, 2024. The decrease was primarily due to a decrease in accounts payable of approximately $27,500, and accrued expenses of approximately $138,000. The decrease in accrued expenses during the period was primarily driven by the payment of approximately $82,600 for transactional costs related to the exercise of Series A Warrants in 2024. The decrease in current liabilities is offset by an increase in notes payable of approximately $83,000, deferred revenue of approximately $10,000, and operating lease liabilities of approximately $10,300.

Sources and Uses of Cash

Operations

We had net cash used in operating activities of $5,330,526 for the nine months ended September 30, 2025, as compared to net cash used in operating activities of $4,911,028 for the nine months ended September 30, 2024. During the period in 2025, the net cash used in operating activities consisted primarily of our net loss of $6,061,168, offset by non-cash expense items including amortization of $291,