Company: SOBR
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001477932-25-008092
Chunk: 89

Company: SOBR Safe, Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part II, Item 1A
Chunk 89
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As a “smaller reporting company” as defined by Item 10 of Regulation S-K, we are not required to provide information required by this Item.  However, our current risk factors are set forth in our Annual Report on Form 10-K for the year ended December 31, 2024 as filed with the SEC on April 15, 2025.

While we contract with US-based suppliers for our products, we may be indirectly exposed to third-party vendor risk.

We use multiple US-based suppliers to manufacture our products, and such suppliers may have complex supply chains, making it challenging for us to identify all the risks in the supply chain. In addition, such suppliers may contract separately with sub-suppliers that may be located in different countries with different laws and regulations, making it difficult to ensure compliance.  While we conduct due diligence before engaging a supplier and regularly review and assess their performance, our due diligence review does not include any sub-suppliers they may use, nor have we worked with our suppliers to improve their risk management practices. In addition, we have not developed contingency plans to address potential disruptions in our supply chain, such as identifying alternative suppliers or building up inventory.

ITEM 2 Unregistered Sales of Equity Securities and Use of Proceeds

There were no unregistered sales of the Company’s equity securities during the nine months ended September 30, 2025, that were not previously reported in a Current Report on Form 8K.

ITEM 3 Defaults Upon Senior Securities

On December 28, 2010, we borrowed $11,810 from a related party. The note payable carries an interest rate of 0% and matured on December 31, 2012. As of September 30, 2025, this note was in default.

On February 20, 2012, we borrowed $3,750 from a non-related party. The note payable carries an interest rate of 12% and matured on February 19, 2013. As of September 30, 2025, this note was in default.

On March 20, 2012, we borrowed $5,433 from a non-related party. The note payable carries an interest rate of 12% and matured on March 19, 2013. As of September 30, 2025, this note was in default.

On September 27, 2013, we borrowed $15,000 from a non-related party. The note payable carries an interest rate of 9