PREFERRED STOCK (Details Narratve) - $ / shares |
1 Months Ended | 6 Months Ended | ||||
---|---|---|---|---|---|---|
Dec. 09, 2019 |
Apr. 20, 2023 |
Nov. 20, 2015 |
Jun. 30, 2023 |
Dec. 31, 2022 |
Mar. 01, 2022 |
|
Preferred Stock, Shares Authorized | 25,000,000 | |||||
Series B Convertible Preferred Stock [Member] | ||||||
Preferred stock, share Issued | 0 | 3,000,000 | 3,000,000 | |||
Preferred Stock, Shares Authorized | 3,000,000 | 3,000,000 | 3,000,000 | |||
Preferred Stock, Par Value | $ 0.00001 | $ 0.00001 | ||||
Exchange shares issued of common stcok | 3,000,000 | 333,333 | ||||
Common stock held by company | 1,000,000 | 666,667 | ||||
Series A Convertible Preferred Stock [Member] | ||||||
Preferred stock, share Issued | 0 | 0 | ||||
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 | |||||
Preferred Stock, Shares Authorized | 3,000,000 | 3,000,000 | 3,000,000 | |||
Preferred Stock, Par Value | $ 0.00001 | $ 0.00001 | $ 0.00001 | |||
Minimum Conversion Rate | $ 5.01 | |||||
Series A-1 Convertible Preferred stock [Member] | ||||||
Preferred stock, share Issued | 0 | 0 | ||||
Preferred Stock, Shares Authorized | 2,700,000 | 2,700,000 | ||||
Preferred Stock, Par Value | $ 0.00001 | $ 0.00001 | ||||
Series A-1 Convertible Preferred stock [Member] | SOBR's Director company [Member] | Series A-1 Preferred Stock Purchase Agreement [Member] | SOBR SAFE, LLC [Member] | ||||||
Preferred Stock, Shares Authorized | 2,000,000 | |||||
Authorized Shares Increased | 2,700,000 | |||||
Right Of Dividend | 8.00% | |||||
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 $3 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 |