Company: SOBR
Filing Date: 2025-05-16
Form Type: 10-Q/A
Source: 0001477932-25-003898
Chunk: 30

Company: SOBR Safe, Inc.
Filing Date: 2025-05-16
Form: 10-Q/A
Chunk 30
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For both the three months ended March 31, 2025, and 2024, the Company recorded $ in stock-based compensation expense related to RSUs. As of March 31, 2025, total unrecognized compensation cost related to RSUs was $, which will be recognized over a weighted average period of nine months.

Executive Officers Stock Options and RSUs

The Company had vested and unvested outstanding executive officer stock options exercisable at $ to $ per share with a weighted average remaining contractual life of years as of March 31, 2025, and vested and unvested outstanding executive stock options exercisable at $ to $ per share with a weighted average remaining contractual life of years as of December 31, 2024. The Company had no vested and unvested RSUs granted to executive officers as of March 31, 2025, and December 31, 2024, respectively.

NOTE 12. COMMITMENTS AND CONTINGENCIES

Legal Proceedings

On December 6, 2006, Orange County Valet and Security Patrol, Inc. filed a lawsuit against the Company in Orange County California State Superior Court for Breach of Contract in the amount of $. A default judgment was taken against the Company in this matter. In mid-2013 we learned the Plaintiff’s perfected the judgment against the Company, but we have not heard from the Plaintiffs as of March 2024. As of March 31, 2025, the Company has accrued $ plus accrued interest of approximately $. In the event we pay any money related to this lawsuit, IDTEC agreed, in connection with closing a 2020 asset purchase transaction with IDTEC, to pay the amount for us in exchange for shares of our common stock.

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NOTE 13. SEGMENT REPORTING

The Company is managed as one reportable operating segment, which includes all of our operations primarily designed to enable customers to purchase products and services through channel partners, sales agents or enterprise and consumer digital channels. Substantially all of our consolidated revenues and cash flows are generated in the United States. The segment information aligns with how the Company’s Chief Operating Decision Maker (“CODM”), designated as the Company’s Chief Financial Officer, reviews and manages the Company’s business. The Company’s CODM monitors our consolidated operating income and net earnings/(loss) to evaluate performance and make operating decisions. The accounting policies of our single operating segment are the same as those described in the