Company: SOBR
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001477932-25-002746
Chunk: 1412

Company: SOBR Safe, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 8
Chunk 1412
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 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 R&D services  -   220,000 Other  204,733   178,744 Accrued expenses $498,128  $726,940 

NOTE 8. NOTES PAYABLE RELATED PARTIES Notes payable to related parties consist of the following:   December 31,2024  December 31,2023 Notes payable  $11,810  $ 11,810 Current portion  (11,810 )  (11,810 )Net long-term portion  $-  $-  The Company has one related party note payable that has an interest rate of 0%. The note payable had a due date of December 31, 2012, and is currently in default. Total interest expense for related party notes was none and $27,501 for the years ended December 31, 2024 and 2023, respectively.

 F-15Table of Contents

NON- RELATED PARTIES  Notes payable to non-related parties consist of the following:   December