Company: SOBR
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001477932-25-002746
Chunk: 1415

Company: SOBR Safe, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 8
Chunk 1415
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.  Non-Convertible Notes Payable The Company has two non-convertible notes payable to non-related parties with principal balances totaling $17,500 for the years ended December 31, 2024 and 2023, respectively. These notes carry interest ranging from 9% - 10% and have due dates ranging from December 2013 to November 2015. The notes are currently in default.   Premium Financing Note Payable On June 15, 2023, the Company entered into a financing agreement for payments of its annual general risk and directors and officers insurance premiums for coverage from May 2023 through May 2023 totaling $367,352. The financing agreement required an initial down payment of $73,470 with the remaining amount of $293,882 financed for an eight-month period at an annual interest rate of 8.5% with monthly payments of $37,914 beginning in June 2023. The financing liability balance at December 31, 2023 was $37,648. On July 1, 2024, the Company entered into a financing agreement for payment of its annual general risk and directors and officers insurance premiums for coverage from July 2024 through June 2025 totaling $330,083. The financing agreement required an initial down payment of $66,017 with the remaining amount of $264,066 financed for an eight-month period at an annual interest rate of 9.1% with monthly payments of $34,150 beginning in July 2024. The financing liability balance at December 31, 2024 was $100,907.

 F-16Table of Contents

NOTE 9. COMMON STOCK  The Company’s common stock transactions for the year ended December 31, 2024 consisted of the following: The Company issued 105 shares of common stock for RSUs vested during 2024.  The Company issued 5,214 shares of common stock upon conversion of a portion of the Convertible Notes issued in the 2023 Debt Offering.  The Company issued 358 shares of common stock in connection with the rounding provisions of the 1-for-110 reverse stock split conducted on October 2, 2024. On October 9, 2024, the Company received $7,336,295 of net proceeds from the sale of 202,470 PIPE units at an offering price of $40.50 per PIPE unit, each unit consisting of