UNITED STATES

 

 

SECURITIES AND EXCHANGE COMMISSION

SEC File No: 333-262665

 

Washington, D.C. 20549

CUSIP No: 833592 207

 

 FORM 12b-25

 

NOTIFICATION OF LATE FILING

 

(Check One):

☐ Form 10-K

☐ Form 20-F

☐ Form 11-K

☒ Form 10-Q

☐ Form 10-D

☐ Form N-SAR

☐ Form N-CSR

  

For Period Ended:           March 31, 2022        

 

Transition report on Form 10-K

Transition report on Form 20-F

Transition report on Form 11-K

Transition report on Form 10-Q

Transition report on Form N-SAR

 

For the Transition Period Ended:                                                                    

 

Read Instruction (on back page) Before Preparing Form Please Print or Type.

Nothing in this form shall be construed to imply that the Commission has verified any information contained herein.

 

If the notification relates to a portion of the filing checked above, identify the Item(s) to which the notification relates:

 

 

PART 1 -- REGISTRANT INFORMATION

 

SOBR Safe, Inc.

Full Name of Registrant

 

 

Former Name if Applicable

 

6400 S. Fiddlers Green Circle, Suite 525

Address of Principal Executive Office (Street and Number)

 

Greenwood Village, Colorado 80111

City, State and Zip Code

 

 

 

 

PART II -- RULES 12b-25(b) AND (c)

 

If the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed. (Check box if appropriate)

 

 

(a)   

The reasons described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense;

 

(b)

The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-SAR or Form N-CSR, or a portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject report or transition report on Form 10-Q, or subject distribution report on Form 10-D, or portion thereof will be filed on or before the fifth calendar day following the prescribed due date; and

 

(c)

The accountant's statement or other exhibit required by Rule 12b-25(c) has been attached if applicable.

 

PART III -- NARRATIVE

 

State below in reasonable detail the reasons why Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-SAR, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed time period.

 

Data and other information regarding certain material operations of the Company, as well as its financial statements required for the filing, are not currently available and could not be made available without unreasonable effort and expense.

 

PART IV-- OTHER INFORMATION

 

(1)

Name and telephone number of person to contact in regard to this notification

 

 

David Gandini

 

(844)

 

762-7723

 

(Name)

 

(Area Code)

 

(Telephone Number)

 

(2)

Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed? If answer is no, identify report(s). ☒ Yes     ☐ No

 

 

(3)

Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof? ☒ Yes     ☐ No

 

If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.

 

The Company anticipates a significant change in its operating results loss for the three months ended March 31, 2022, compared to the three months ended March 31, 2021, primarily due to increased levels of convertible debt issued with warrants in the current period compared to the corresponding period last fiscal year. As a result, amortization of interest – conversion features, interest expense, warrant expense, debt related financing costs and derivative fair value loss are estimated to increase by approximately $3,600,000 over the corresponding last fiscal year period. In addition, stock-based compensation expense is estimated to increase by approximately $1,100,000 resulting from stock options and restricted stock unit awards to employees, officers, and directors that either joined the Company or were granted additional awards since the corresponding period for the last fiscal year. The exact amounts and the impact those amounts have on our financial statements will not be known until our financial statements for the three months ended March 31, 2022 are completed.

 

 
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SOBR Safe, Inc.

(Name of Registrant as Specified in Charter)

 

has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date: May 16, 2022 By: /s/ David Gandini

 

 

David Gandini  
    Chief Financial Officer  

                                                                  

INSTRUCTION: The form may be signed by an executive officer of the registrant or by any other duly authorized representative. The name and title of the person signing the form shall be typed or printed beneath the signature. If the statement is signed on behalf of the registrant by an authorized representative (other than an executive officer), evidence of the representative's authority to sign on behalf of the registrant shall be filed with the form.

 

ATTENTION

Intentional misstatements or omissions of fact constitute Federal Criminal Violations (See 18 U.S.C. 1001)

 

 
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