Company: SOBR
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001477932-25-002746
Chunk: 797

Company: SOBR Safe, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 5
Chunk 797
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 not paid dividends historically and does not expect to pay them in the future. Expected volatilities are based on weighted averages of the historical volatility of the Company’s common stock estimated over the expected term of the awards. The expected term of awards granted is derived using the “simplified method” which computes expected term as the average of the sum of the vesting term plus the contract term. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant for the period of the expected term. The grant date fair value of a restricted stock unit equals the closing price of our common stock on the trading day of the grant date. 

Recent Accounting Pronouncements

New pronouncements issued for future implementation are discussed in Note 1 to our financial statements.

Effects of Inflation

We do not believe that inflation has had a material impact on our business, revenue or operating results during the periods presented. However, continued increases in inflation could have an adverse effect on our results of future operations, financial position, and liquidity in 2024.

The following discussion:

·summarizes our results of operations; and ·analyzes our financial condition and the results of our operations for the year ended December 31, 2024 and year ended December 31, 2023.

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Results of Operations for the Year Ended December 31, 2024 Compared to the Year Ended December 31, 2023

Summary of Results of Operations

  Year Ended December 31,   2024  2023 Revenue $212,736  $157,292 Cost of goods and services  193,568   94,942 Gross profit  19,168   62,350          Operating expenses:        General and administrative  6,217,762   6,400,723 Stock-based compensation expense  729,712   2,245,871 Research and development  747,525   1,016,302 Total operating expenses  7,694,999   9,662,896          Loss from operations  (7,675,831 )  (9,600,546 )         Other income (expense):        Other income  110,212   216,211 Loss on debt extinguishment, net  -   (26,125 )Notes payable – conversion expense  (585