Company: SOBR
Filing Date: 2025-05-16
Form Type: 10-Q/A
Source: 0001477932-25-003898
Chunk: 3

Company: SOBR Safe, Inc.
Filing Date: 2025-05-16
Form: 10-Q/A
Chunk 3
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 no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Readers are cautioned not to put undue reliance on any forward-looking statements. Future actual results, events and stockholder values may differ materially from those expressed or implied in these forward-looking statements. The risks, uncertainties, assumptions and other factors that could cause actual results to differ from the results predicted or implied by forward-looking statements include factors discussed in our filings with the SEC, including those disclosed under captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our 2024 Form 10-K and our Quarterly Reports on Form 10-Q (including this Quarterly Report).

REVERSE STOCK SPLIT

At the open of market on April 4, 2025, our 1-for-10 reverse split of our common stock went effective with Nasdaq Capital Markets. As a result, all common stock share amounts, as well as share amounts and exercise and conversion prices have been adjusted to reflect the reverse stock split.

ITEM 1 Condensed Consolidated Financial Statements

The condensed consolidated balance sheets as of March 31, 2025, and December 31, 2024, the condensed consolidated statements of operations for the three months ended March 31, 2025, and 2024, the condensed consolidated statements of changes in stockholders’ equity for the three months ended March 31, 2025, and 2024, and the condensed consolidated statements of cash flows for the three months ended March 31, 2025, and 2024, follow. The unaudited condensed consolidated financial statements reflect all adjustments which are, in the opinion of management, necessary for a fair statement of the results for the interim periods presented. All such adjustments are of a normal and recurring nature.

| 3 |

| SOBR SAFE, INC.                       |
| CONDENSED CONSOLIDATED BALANCE SHEETS |

| ASSETS                                                                                                                                                                     
 Current assets                                                                                                                                                             |     | March 31,   
 2025        
 (Unaudited) |              |   |     | December 31, 
 2024         |             |   |
|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:----|:------------|-------------:|:--|:----|:-------------|------------:|:--|
| Cash                                                                                                                                                                       |     | $           |   10,074,029 |   |     | $            |   8