Company: SOBR
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001477932-25-003832
Chunk: 7

Company: SOBR Safe, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 2
Chunk 7
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 develop products, generate cash flow from operations, and assess competing market developments. The Company may need additional capital in the near term. Our cash on hand as of March 31, 2025, was $10,074,029 and our current normalized operating cash flow burn rate is approximately $675,000 per month.

Management believes that cash balances and positive working capital at March 31, 2025 provide adequate operating capital for operating activities for the next twelve months after the date these financial statements are issued. Management anticipates additional revenue generation with the release of its second generation SOBRsureTMdevice and a comprehensive marketing plan. These plans are contingent upon the actions to be performed by the Company which have been implemented through the quarter and will continue into future periods, however, these conditions have not been met on or before March 31, 2025. The Company has acquired additional proceeds net of transactional costs from the exercise of outstanding warrants of approximately $3,496,391 during the first quarter of 2025, increasing the Company’s cash balances. As such, Management believes despite limited revenue generation and positive operating cash flows being generated in the past, adequate cash balances and working capital are available to support ongoing operations for the next twelve months and the Company will continue as a going concern at March 31, 2026.

Our cash, total current assets, total assets, total current liabilities, and total liabilities as of March 31, 2025, and as of December 31, 2024, respectively, are as follows:

                                 March 31,                      December 31,                      Change                 
                                                                                                                         
                                 2025                           2024                                                     
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Cash                           $              10,074,029      $                  8,384,042      $           1,689,987  
  Total current assets                          10,508,370                         8,872,074                  1,636,296  
  Total assets                                  12,686,819                        11,171,203                  1,515,616  
  Total current liabilities                      1,065,828                         1,276,889                   (211,061  
  Total liabilities                              1,127,484                         1,368,882                   (241,398  

Our total current assets and total assets increased as of March 31, 2025, as compared to December 31, 202