SOBR Safe, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

NOTE 2. RELATED PARTY TRANSACTIONS

NOTE 2. RELATED PARTY TRANSACTIONS	12 Months Ended
Dec. 31, 2015
Notes to Financial Statements
NOTE 2. RELATED PARTY TRANSACTIONS	As of December 31, 2015 and December 31, 2014, the Company had payables due to officers, for accrued compensation and services of $412,656 and $296,265 respectively. The Company amended a note payable agreement with Lanphere Law Group, the company's largest shareholder, which forgave $108,000 of the principal balance. The original principal balance on the note was $214,334.50 and the new principal balance on the note after the debt forgiveness is $106,334.50. The Company entered into a lease agreement with Lanphere Law Group, whereas the Company is the tenant and is paying monthly rent of $4,100.

NOTE 2. RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2015

As of December 31, 2015 and December 31, 2014, the Company had payables due to officers, for accrued compensation and services of $412,656 and $296,265 respectively.

The Company amended a note payable agreement with Lanphere Law Group, the company's largest shareholder, which forgave $108,000 of the principal balance. The original principal balance on the note was $214,334.50 and the new principal balance on the note after the debt forgiveness is $106,334.50.

The Company entered into a lease agreement with Lanphere Law Group, whereas the Company is the tenant and is paying monthly rent of $4,100.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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