Company: SOBR
Filing Date: 2025-05-16
Form Type: 10-Q/A
Source: 0001477932-25-003898
Chunk: 20

Company: SOBR Safe, Inc.
Filing Date: 2025-05-16
Form: 10-Q/A
Chunk 20
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 Exercise Price, and the terms and condition of the Warrants, the exercise price for the Warrants was reduced to $8.29 per share. The differences with respect to the adjusted warrant exercise prices is treated as a deemed dividend and a reduction in net income available to common shareholders.

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In addition, pursuant to the Inducement Letters, the exercise price in the Common Stock Purchase Warrants issued on March 9, 2023 (the “Applicable Warrants”) currently held by Holders was permanently reduced to $.00 per share (such reduced exercise price, the “Warrants Exercise Price”).

In March, May, and June 2024 noteholders elected to convert an aggregate total of $ (the “Conversion Amount”) pertaining to the 2023 Debt Offering into shares of the Company’s common stock at $ per share. As provided for in the Agreement, the Conversion Amount included original Note principal of $, as well as $ of accrued interest incurred in both fiscal 2023 and 2024.

Convertible Notes Payable

The Company has two convertible notes payable to a non-related entity with principal balances totaling $ as of March 31, 2025, and December 31, 2024. The notes bear interest at % and are convertible into shares of the Company’s common stock at $ per share. The notes were due in 2013 and are currently in default.

Non-Convertible Notes Payable

The Company has two non-convertible notes payable to non-related parties with principal balances totaling $ as of March 31, 2025, and December 31, 2024. These notes carry interest rates ranging from % - % and have due dates ranging from to . The notes are currently in default.

Premium Financing Note Payable

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 $. The financing agreement required an initial down payment of $ with the remaining amount of $ financed for an eight-month period at an annual interest rate of % with monthly payments of $ 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 9. COMMON STOCK

The Company’s common stock transactions for the three-months ended March 31, 2025, consist of the following:

The Company issued shares of common stock upon exercise of warrants.

The Company’s