PREFERRED STOCK (Details Narratve) - $ / shares |
1 Months Ended | |||
|---|---|---|---|---|
Mar. 01, 2022 |
Dec. 09, 2019 |
Apr. 20, 2023 |
Nov. 20, 2015 |
|
| Preferred Stock, Shares Authorized | 25,000,000 | |||
| Series B Convertible Preferred Stock [Member] | ||||
| Preferred stock, share Issued | 3,000,000 | |||
| Common stock, share converted | 1,000,000 | |||
| Preferences And Rights Of Preferred Stock | (a) dividends shall not be mandatory or cumulative, (b) liquidation preference over the Company’s common stock at an amount per share equal to the original issue price of the Series B Convertible Preferred Stock plus all accrued but unpaid dividends on the Series B Convertible Preferred Stock, (c) each three shares of Series B Convertible Preferred Stock shall be convertible, at the option of the holder, beginning on the date that is six months from the date the Holder acquired the shares of Series B Convertible Preferred Stock, and without the payment of additional consideration by the holder, into one share of common stock, (d) no redemption rights by the Company, (e) no call rights by the Company, and (f) each share of Series B Convertible Preferred Stock will vote on an “as converted” basis | |||
| Exchange shares issued of common stcok | 3,000,000 | |||
| Series B Convertible Preferred Stock [Member] | CEO David Gandini [Member] | ||||
| Common stock, share converted | 333,333 | |||
| Series B Convertible Preferred Stock [Member] | IDTEC SPV, LLC [Member] | ||||
| Common stock, share converted | 666,667 | |||
| Series A Convertible Preferred Stock [Member] | ||||
| 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 | |||
| Preferred Stock, Par Value | $ 0.00001 | |||
| Minimum Conversion Rate | $ 5.01 | |||
| 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 | |||