Company: SOBR
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001477932-25-005544
Chunk: 44

Company: SOBR Safe, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 44
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- Other  113,775   204,733 Total accrued expenses $2,005,041  $498,128  On April 11, 2025, pursuant to the terms and conditions of the Series A Warrants issued on October 9, 2024 in conjunction with the 2024 PIPE Financing, the Company evaluated the impact of the 1-for-10 reverse split of the Company’s common stock, or Share Combination Event, completed on the Nasdaq Capital Markets. The Share Combination Event resulted in the determination and accrual of a current liability of $1,640,000 at June 30, 2025 for a True-up Payment due to investors of the 2024 PIPE Financing as required by the terms and conditions of the Series A Warrants (see Note 11).

NOTE 8. NOTES PAYABLE RELATED PARTIES Related party notes payable consist of the following:   June 30,2025  December 31,2024 Non-convertible note payable $11,810  $11,810 Less current portion   (11,810 )  (11,810 )Net long-term portion  $-  $- 

 17Table of Contents

 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 the related party notes was none for both three and six-month periods ended June 30, 2025 and 2024. NON-RELATED PARTIES   Notes payable to non-related parties consist of the following:   June 30,2025  December 31,2024 Convertible notes payable $9,183  $9,183 Non-convertible notes payable  17,500   17,500 Premium financing note payable  -   100,907 Net non-related party notes payable  26,683   127,590 Current portion  (26,683)  (127,590)Net long-term portion $-  $-  Total interest expense for non-related party notes was $5,792 and $64,219 for the six-month periods ended June 30, 2025, and 2024, respectively. Total interest expense for non-related party notes was $2