PREFERRED STOCK (Details Narratve) - USD ($) |
1 Months Ended | 9 Months Ended | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
Aug. 23, 2019 |
Aug. 08, 2019 |
Sep. 30, 2020 |
May 07, 2020 |
Jan. 03, 2020 |
Dec. 31, 2019 |
Dec. 12, 2019 |
Dec. 09, 2019 |
Mar. 08, 2017 |
Nov. 20, 2015 |
|
| Preferred stock, par value | $ 0.00001 | |||||||||
| Accrued dividends payable | $ 161,880 | |||||||||
| Preferred stock, shares authorized | 25,000,000 | |||||||||
| Additional paid-in capital | $ 48,250,387 | $ 15,971,392 | ||||||||
| Exercise price | $ 112,871 | |||||||||
| First Capital Ventures [Member] | ||||||||||
| Issuane of warrants upon purchase of common stock, shares | 144,317 | |||||||||
| Issuane of warrants upon purchase of common stock, amount | $ 122,889 | |||||||||
| Exercise price | $ 1.039375 | |||||||||
| Series A-1 Convertible Preferred stock [Member] | ||||||||||
| Preferred stock, par value | $ 0.00001 | $ 0.00001 | ||||||||
| Preferred stock, shares authorized | 2,000,000 | 2,000,000 | ||||||||
| Purchase price from SPV, shares | 1,000,000 | |||||||||
| Preferred stock shares sold | 2,700,000 | 1,000,000 | ||||||||
| Purchase price from SPV, amount | $ 1,000,000 | |||||||||
| Purchase price from SPV, percentage | 52.00% | |||||||||
| Series A Convertible Preferred Stock [Member] | ||||||||||
| Preferred stock, par value | $ 0.000001 | |||||||||
| Preferred stock, shares authorized | 3,000,000 | |||||||||
| Preferred stock conversion 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 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 15 trading days immediately prior to conversion is at least $1.67. The shares of Series A Convertible Preferred Stock vote on a one for one 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. | |||||||||
| 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. | |||||||||
| Investment Agreement [Member] | Convertible Preferred Stock [Member] | ||||||||||
| 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. | |||||||||
| SOBR SAFE, LLC [Member] | Asset Purchase Agreement [Member] | ||||||||||
| Preferred stock, shares authorized | 2,000,000 | |||||||||
| Convertible preferred stock issuable | 2,700,000 | |||||||||
| SOBR SAFE, LLC [Member] | Series A-1 Preferred Stock Purchase Agreement [Member] | Series A-1 Convertible Preferred stock [Member] | SOBR's Director company [Member] | ||||||||||
| Preferred stock, shares authorized | 2,000,000 | |||||||||
| Right of dividend | 8.00% | |||||||||
| Shares issuance price | $ 1 | |||||||||
| 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 Asset Purchase Agreement with IDTEC), (d) redemption rights such that we have the right, upon 30 days written notice, at any time after one year from the date of issuance, to redeem all or part of the Series A-1 Convertible Preferred Stock for 150% of the original issuance price, (e) no call rights by the Company, and (f) each share of Series A-1 Convertible Preferred Stock will vote on an “as converted” basis | |||||||||
| Vernon Justus [Member] | Share Exchange Agreement [Member] | ||||||||||
| Convertible preferred stock converted | 867,932 | |||||||||
| Common stock shares issuable for preferred stock | 260,954 | |||||||||
| Fair value of the common shares | $ 36,887 | |||||||||
| Conversion price | $ 3.326 | $ 0.133 | ||||||||
| Additional paid-in capital | $ 831,045 | $ 831,045 | ||||||||
| Michael Lanphere [Member] | Share Exchange Agreement [Member] | ||||||||||
| Convertible preferred stock converted | 520,643 | |||||||||
| Common stock shares issuable for preferred stock | 156,537 | |||||||||
| Fair value of the common shares | $ 22,157 | |||||||||
| Conversion price | $ 3.326 | $ 0.133 | ||||||||
| Additional paid-in capital | $ 498,516 | |||||||||