SOBR Safe, Inc. General form of registration statement for all companies including face-amount certificate companies

General form of registration statement for all companies including face-amount certificate companies

PREPAID EXPENSES

PREPAID EXPENSES

9 Months Ended

12 Months Ended

Sep. 30, 2021

Dec. 31, 2020

PREPAID EXPENSES

NOTE 4. PREPAID EXPENSES

NOTE 4. PREPAID EXPENSES

Prepaid expenses consist of the following:

	September 30,		December 31,
	2021		2020
Consulting service	$	-	$	111,860
Rent		20,667		-
Insurance		4,232		3,370
Prepaid expenses	$	24,899	$	115,230

On February 26, 2021, the Company entered into a new lease agreement for its office facility for a 12-month term beginning March 1, 2021. In addition to monthly base rent of $6,000, the agreement requires the issuance on 16,000 shares of its common stock valued at $49,600, all of which has been issued as of September 30, 2021.

NOTE 4. PREPAID EXPENSES

Prepaid expenses consist of the following:

	December 31, 2020		December 31, 2019
Insurance	$	3,370	$	-
Consulting services		111,860		7,343
Other prepaid expenses		-		1,711

Prepaid expenses	$	115,230	$	9,054

During 2020, the Company entered into two consulting agreements for marketing services. The Company has to issue a total of 87,500 of its common shares valued at $142,714 under the terms of the agreements. As of December 31, 2020, the share value is included in common stock subscriptions payable as the shares had not been issued. Stock- based compensation expense for the year ended December 31, 2020 includes approximately $33,000 for these service agreements.