Company: SOBR
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001477932-25-002746
Chunk: 518

Company: SOBR Safe, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1C
Chunk 518
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 a lease agreement for copier equipment in June 2023, requiring monthly lease payments of $329 through May 2026.  Total operating lease expense was $198,361, which included $82,662 of variable lease expense during the year ended December 31, 2024. Operating lease obligations recorded on the audited consolidated balance sheet at December 31, 2024 are as follows: Operating lease liabilities, current portion $111,303 Operating lease liabilities – less current portion  91,993 Total Operating Lease Liabilities $203,296  Future lease payments included in the measurement of operating lease liabilities on the audited consolidated balance sheet at December 31, 2024 are as follows: 2025  125,644 2026  95,063 Total future minimum lease payments  220,707 Less imputed interest  (17,411)Total Operating Lease Liabilities $203,296  The weighted average remaining lease term is 21 months, and the weighted average discount rate is 10%.

NOTE 6. INTANGIBLE ASSETS Intangible assets are comprised of SOBRsafeTM Intellectual Technology and consist of the following:   December 31,2024  December 31,2023 Gross carrying amount $3,854,675  $3,854,675 Accumulated amortization  (1,766,710 )  (1,381,246 )Net intangible asset $2,087,965  $2,473,429 Amortization period (in years)  10   10 

 F-14Table of Contents

Amortization expense was $385,464 for the years ended December 31, 2024 and 2023, respectively.  Estimated future amortization expense for device technology intangible assets is as follows: 2025  2026  2027  2028  2029  Thereafter $385,464  $385,464  $385,464  $385,464  $385,464  $160,645 

NOTE 7. ACCRUED EXPENSES Accrued expenses consist of the following:   December 31,2024  December 31,2023 Professional consulting services $293,395  $328,196