ASSET PURCHASE (Details Narrative) - USD ($) |
3 Months Ended | |
|---|---|---|
Jun. 05, 2020 |
Mar. 31, 2021 |
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| Liability required | $ 125,000 | $ 158,000 |
| Exercise price per share | $ 0.50 | |
| Market price of shares | $ 27,120,000 | |
| Assets purchase upon shares issued | $ 29,222,955 | $ 1,407,051 |
| Assets purchase upon shares issued, shares | 12,000,000 | |
| Common stock issuable upon exercise of warrant, shares | 320,000 | |
| Asset impairment loss | $ 25,320,555 | |
| Fair value of warrants issued | $ 695,454 | |
| Description of fair value of assets evaluation | The Company evaluated the fair value of the assets acquired based on market estimates for property and equipment and discounted net cash flow for the SOBR Safe intellectual technology. The present value of the discounted cash flow utilized a 75% discount, which included a 25% risk return premium, over an estimated five-year net revenue stream expected to be derived from the technology acquired. | |
| Convertible Notes Payable | $ 100,000 | |
| Asset Purchase Agreement [Member] | IDTEC [Member] | ||
| Common stock, shares issued upon assets purchase | 12,000,000 | |
| Convertible notes, conversion price | $ 0.50 | |
| Interest rate | 10.00% | |
| Convertible Notes Payable | $ 1,485,189 |
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- Definition Including the current and noncurrent portions, carrying value as of the balance sheet date of a written promise to pay a note, initially due after one year or beyond the operating cycle if longer, which can be exchanged for a specified amount of one or mo No definition available.
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- Definition Amount of write-down of assets recognized in the income statement. Includes, but is not limited to, losses from tangible assets, intangible assets and goodwill. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Including the current and noncurrent portions, carrying value as of the balance sheet date of a written promise to pay a note, initially due after one year or beyond the operating cycle if longer, which can be exchanged for a specified amount of one or more securities (typically common stock), at the option of the issuer or the holder. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The rate of interest that was being paid on the original debt issue that is being converted in the noncash (or part noncash) transaction. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The per share price that the individual must pay to acquire shares under the deferred compensation arrangement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition This item represents the aggregate value of each identified investment accounted for under the equity method of accounting based on the quoted market price for those investments in common stock for which a quoted market price is available. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The number of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Per share or per unit amount of equity securities issued. No definition available.
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- Definition Number of shares of stock issued during the period as part of a transaction to acquire assets that do not qualify as a business combination. No definition available.
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