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Sobr Safe Inc SOBR

SOBR Safe, Inc. is a provider of transdermal alcohol detection solutions. It provides non-invasive technology to quickly and discretely monitor, detect and identify the presence of alcohol in individuals. Its non-invasive technologies are integrated within its scalable and patent-pending software platform, SOBRsafe, producing statistical, measurable business and user data. Its SOBRcheck device is a patent-pending, touch-based identity verification and alcohol detection solution. Its SOBRsure device is a patent-pending, fitness-style wearable band with an alcohol monitoring and detection solution intended for discrete, low-profile and voluntary use, providing qualified, real-time alcohol monitoring and GPS tracking. The SOBRsafe technology can also be deployed across numerous additional devices for various uses. Its segment is designed to enable customers to purchase products directly through channel partners, sales agents or through its digital enterprise and consumer channels.


NDAQ:SOBR - Post by User

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  • IseneschalX
Post by Iseneschalon Oct 07, 2024 12:22pm
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Post# 36256242

SOBR....You have to read this

SOBR....You have to read this

Stronger Financial Positioning

SOBRsafe has continued its effort to strengthen its financial position and restructure the composition of its equity during Q2 2024. Through Q2, Convertible Debt noteholders converted the full balance of the outstanding notes to common shares resulting in SOBRsafe eliminating its debt obligation due in March 2025 in relation to these notes. Further, SOBRsafe entered into a Warrant Inducement arrangement on June 4, 2024, providing the Company with net cash proceeds of $2.4 million in exchange for the exercise of approximately 10.3 million warrants to common shares and issuance of 20.8 million additional plain vanilla warrants.

Noted SOBRsafe CFO Christopher Whitaker, "With the execution of the Company's strategy to strengthen the balance sheet through the acquisition of liquidity and reduction in future debt obligations, exchange of equity units with unfavorable terms to those conducive to our growth, and in retaining the Company's public market listing, we continue to fortify our financial position and improve our ability to raise capital in the future."

Sales Progress

In Q2 2024, SOBRsafe secured 17 customer accounts, increasing its 2024 new customer total to 33. Revenue increased by 44% from Q2 2023, to $54,191.

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