PREFERRED STOCK (Details Narratve) - USD ($) |
1 Months Ended | 12 Months Ended | ||||||
---|---|---|---|---|---|---|---|---|
Dec. 09, 2019 |
Aug. 08, 2019 |
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 12, 2019 |
Aug. 23, 2019 |
Mar. 08, 2017 |
Nov. 20, 2015 |
|
Preferred stock, shares issued | 25,000,000 | |||||||
Preferred stock, shares authorized | 22,000,000 | 22,000,000 | ||||||
Common stock, shares issued | 214,626,540 | 109,409,930 | ||||||
Series A Convertible Preferred Stock | ||||||||
Exercise price | $ 112,871 | |||||||
Preferred stock, par value | $ 0.00001 | $ 0.00001 | ||||||
First Capital Ventures [Member] | ||||||||
Issuane of warrants upon purchase of common stock, shares | 4,800,000 | |||||||
Issuane of warrants upon purchase of common stock, amount | $ 122,889 | |||||||
Exercise price | $ 0.03125 | |||||||
Share Exchange Agreement (the "Justus SEA") [Member] | ||||||||
Common stock, shares issued | 8,679,320 | |||||||
Series A Convertible Preferred Stock | 867,932 | |||||||
Common stock issued price per share | $ 0.10 | |||||||
Business Development [Member] | ||||||||
Agreement term | The Company agreed to enter into a “business development” agreement with FCV, or its assignee, on the sale of the first $1,000,000 of 8% Series A-1 Convertible Preferred Stock and also granted FCV and its assigns, the right to use the name “SOBR SAFE” and any related intellectual property in connection with the SPV, and the offering of the Interests in the SPV. | |||||||
Share Exchange Agreement (the "Lanphere SEA") [Member] | ||||||||
Common stock, shares issued | 5,206,430 | |||||||
Series A Convertible Preferred Stock | 520,643 | |||||||
Common stock issued price per share | $ 0.10 | |||||||
Series A-1 Convertible Preferred stock [Member] | ||||||||
Preferred stock, shares issued | ||||||||
Purchase price from SPV, shares | 1,000,000 | |||||||
Purchase price from SPV, amount | $ 1,000,000 | |||||||
Purchase price from SPV, percentage | 52.00% | |||||||
Preferred stock, shares authorized | 1,000,000 | 1,000,000 | ||||||
Series A Convertible Preferred Stock | ||||||||
Preferred stock, par value | $ 0.00001 | $ 0.00001 | ||||||
Series A-1 Convertible Preferred stock [Member] | Series A-1 Preferred Stock Purchase Agreement [Member] | SOBR SAFE, LLC [Member] | SOBR's Director company [Member] | ||||||||
Right of dividend | 8.00% | |||||||
Preferred stock, shares authorized | 2,000,000 | |||||||
Shares issuance price | $ 1 | |||||||
Conversion of shares, description | Conversion rights into shares of our common stock at $1 per share | |||||||
Redemption of shares, description | Redemption rights such that the Company has the right, upon thirty (30) days written notice, at any time after one year from the date of issuance, to redeem the all or part of the Series A-1 Preferred Stock for 150% of the original issuance price | |||||||
Preferences and rights of preferred stock | (a) dividend rights of 8% per annum based on the original issuance price of $1 per share, (b) liquidation preference over the Company’s common stock, (c) conversion rights into shares of the Company’s common stock at $1 per share (not to be affected by any reverse stock split in connection with the IDTEC APA), (d) redemption rights such that we have the right, upon thirty (30) days written notice, at any time after one year from the date of issuance, to redeem the all or part of the Series A-1 Preferred Stock for 150% of the original issuance price, (e) no call rights by the Company, and (f) each share of Series A Convertible Preferred stock will vote on an “as converted” basis. | |||||||
Preferred stock reserve for related party, shares | 1,000,000 | |||||||
Preferred stock reserve for related party, amount | $ 1,000,000 | |||||||
Convertible Preferred Stock [Member] | Investment Agreement [Member] | ||||||||
Agreement term | The Company agreed to pay $26,196 in legal and other expenses of the SPV subsequent to the day in which the Company receives a minimum of $1,000,000 from the sale of 1,000,000 shares of the 8% Series A-1 Convertible Preferred Stock. | |||||||
Raises fund description | The Company desires to raise between $1,000,000 and $2,000,000 from the sale of its 8% Series A-1 Convertible Preferred Stock and FCV intends to raise between $1,000,000 and $2,000,000 (net after offering expenses) in a special purchase vehicle (“SPV”) created by FCV to purchase the 8% Series A-1 Convertible Preferred Stock. The Company granted FCV and its assigns, the exclusive right to purchase the 8% Series A-1 Convertible Preferred Stock | |||||||
Legal and other expenses | $ 26,196 | |||||||
Series A Preferred Stock [Member] | ||||||||
Preferred stock, shares issued | 3,000,000 | |||||||
Preferred stock, shares authorized | 3,000,000 | 3,000,000 | ||||||
Conversion of shares, description | Shares of the Series A Convertible Preferred stock are convertible at a 35% discount rate to the average closing price per share of the Company’s common stock (either as listed on a national exchange or as quoted over-the-market) for the last fifteen (15) trading days immediately prior to conversion. However, no conversions of the Series A Convertible Preferred stock to shares of common stock can occur unless the average closing price per share of the Corporation’s common stock (either as listed on a national exchange or as quoted over-the-market) for the last fifteen (15) trading days immediately prior to conversion is at least five cents ($0.05). The shares of Series A Convertible Preferred stock vote on an “as converted” basis. The right of conversion is limited by the fact the holder of the Series A Convertible Preferred stock may not convert if such conversion would cause the holder to beneficially own more than 4.9% of the Company’s common stock after giving effect to such conversion. | |||||||
Series A Convertible Preferred Stock | ||||||||
Preferred stock, par value | $ 0.00001 | $ 0.00001 | $ 0.000001 | |||||
Dividend | $ 0 | $ 0 |