|3 Months Ended|
Mar. 31, 2021
|NOTE 10. COMMON STOCK||
The Company’s common stock transactions for the three months ended March 31, 2020 consist of the following:
The Company issued 601 shares of its common stock for compensation for services rendered.
The Company issued 454,097 shares of its common stock for the conversion of $65,728 of related parties’ debt from $0.1530 to $0.13304 per share pursuant to terms of the convertible promissory notes. 454,097 stock warrants were settled along with the related party debt.
The Company issued 214,883 shares of its common stock for the settlement of related party payables of $714,700. A related party gain of approximately $222,000 was recorded as additional paid-in capital from the stock issuance.
The Company issued 38,323 shares of its common stock for the settlement of accounts payables and accrued expenses of approximately $127,000. The Company recorded a net gain of approximately $27,000 from the stock issuance.
The Company issued 648,739 shares of its common stock to related parties for the conversion of $622,004 of debt from $0.9146 to $3.326 per share. The Company recorded $143,660 of loss on debt extinguishment and a related party gain of $124,291 as additional paid in-capital as a result of the stock issuance.
The Company issued 70,448 shares of its common stock to non-related parties for the conversion of $65,391 of debt at $3.326 per share. The Company recorded $41,665 of loss resulting from the stock issuance.
The Company’s common stock transactions for the three months ended March 31, 2021 consist of the following:
The Company issued 43,169 shares of its common stock to SOBR Safe, LLC, an entity controlled by a beneficial owner of the Company, in full satisfaction of $107,880 of accrued dividends resulting from the December 2020 conversion of the Series A-1 Convertible Preferred Stock into common shares, see Note 11.
The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef