PREFERRED STOCK (Details Narratve) - USD ($) |
1 Months Ended | 12 Months Ended | |||||
---|---|---|---|---|---|---|---|
Dec. 07, 2020 |
Aug. 08, 2019 |
Dec. 31, 2020 |
Mar. 31, 2021 |
May 07, 2020 |
Dec. 09, 2019 |
Nov. 20, 2015 |
|
Accrued dividends payable | $ 107,880 | ||||||
Preferred stock, shares authorized | 19,300,000 | 19,300,000 | 25,000,000 | ||||
Preferred stock, par value | $ 0.00001 | $ 0.00001 | |||||
Series A-1 Convertible Preferred stock [Member] | |||||||
Preferred stock, shares authorized | 2,700,000 | 2,700,000 | |||||
Conversion of preferred stock shares | 2,700,000 | ||||||
Converted shares of common stock | 2,700,000 | ||||||
Preferred stock shares sold | 2,700,000 | ||||||
Preferred stock, par value | $ 0.00001 | $ 0.00001 | |||||
Series A Convertible Preferred Stock [Member] | |||||||
Preferred stock, shares authorized | 3,000,000 | 3,000,000 | 3,000,000 | ||||
Preferred stock, par value | $ 0.00001 | $ 0.00001 | $ 0.000001 | ||||
Preferred stock conversion description | 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 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 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. | ||||||
SOBR SAFE, LLC [Member] | Asset purchase agreement [Member] | |||||||
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 |