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

Annual report pursuant to Section 13 and 15(d)

NOTE 10. COMMITMENTS AND CONTINGENCIES

NOTE 10. COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2016

Operating Leases

The Company leases its office space under a long-term operating lease expiring in June 2019. Rent expense under this lease was $24,600 and $52,420 for the years ended December 31, 2015 and December 31, 2016, respectively.

As of December 31, 2016, future minimum annual payments under operating lease agreements for years ending December 31 are as follows.

	2017		2018		2019		2020		2021		Total

Operating leases		49,200		49,200		24,600		-		-		123,000
	$	49,200	$	49,200	$	24,600	$	-	$	-	$	123,000