SOBR Safe, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

NOTE 4. NOTES PAYABLE

NOTE 4. NOTES PAYABLE

9 Months Ended

Sep. 30, 2012

	December 31, 2010		December 31, 2011		(Unaudited) September 30, 2012

Note payable to related party, unsecured, due 8/3/2012, interest rate 0%	$	1,950	$	1,950	$	1,950

Note payable to related party, unsecured, due 9/17/2008, convertible at holders optionat $1 per share, interest rate 10% plus agreed upon amounts	$	184,156		-		-

Note payable to related party, unsecured, due 12/15/2013, monthly interest due, convertible at holders option at $2.50 per share, interest rate 22.1%	$	150,000		-		-

Note payable to related party, unsecured, due 05/28/2009, convertible at holders option at $2.50 per share, original issue discount of 20%, with interest at $444 per day after due date	$	240,000		-		-

Note payable to related party, unsecured, due 07/27/2012, convertible at holders option at $2.50 per share, interest rate 8%	$	151,929		-		-

Notes payable to related parties, unsecured, due 01/29/2011, convertible at holders option at $2.50 per share, interest rate 9%	$	5,000		-		-

Notes payable to related parties, unsecured, due 12/31/2012, interest rate 0%	$	15,810	$	11,810	$	11,810

Note payable to non-related party, unsecured, due 09/15/2012, convertible at holders option at $2.50 per TransBiotec share.		-	$	16,000		-

Note payable to related party, lien against company assets, unsecured, due 2/8/12, quarterly interest due, convertible at holders option at $0.3235688 per IMLE share, interest rate 30%		-	$	10,000	$	10,000

Note payable to related party, lien against company assets, unsecured, due 2/8/12, quarterly interest due, convertible at holders option at $0.3235688 per IMLE share, interest rate 30%		-	$	25,000	$	25,000

Note payable to related party, lien against company assets, unsecured, due 2/17/12, quarterly interest due, convertible at holders option at $0.3235688 per IMLE share, interest rate 30%		-	$	25,000	$	25,000

Note payable to related party, lien against company assets, unsecured, due 2/18/12, quarterly interest due, convertible at holders option at $0.3235688 per IMLE share, interest rate 30%		-	$	10,000	$	10,000

Note payable to related party, unsecured, due 2/18/13, annual interest due, convertible at holders option at $0.3235688 per IMLE share, interest rate 18%	-		-	$	750

Note payable to related party, unsecured, due 2/18/13, annual interest due, convertible at holders option at $0.3235688 per IMLE share, interest rate 18%	-		-	$	6,875

Note payable to related party, unsecured, due 2/15/13, annual interest due, convertible at holders option at $0.3235688 per IMLE share, interest rate 12%	-		-	$	2,500

Note payable to related party, unsecured, due 2/20/13, annual interest due, convertible at holders option at $0.3235688 per IMLE share, interest rate 12%	-		-	$	3,750

Note payable to related party, unsecured, due 2/21/13, annual interest due, convertible at holders option at $0.3235688 per IMLE share, interest rate 12%	-		-	$	2,625

Note payable to related party, unsecured, due 3/20/13, annual interest due, convertible at holders option at $0.3235688 per IMLE share, interest rate 12%	-		-	$	5,433

Note payable to related party, unsecured, due 3/22/13, annual interest due, convertible at holders option at $0.3235688 per IMLE share, interest rate 12%	-		-	$	3,203

Note payable to related party, lien against company assets, unsecured, due 1/05/13, annual interest due, convertible at holders option at 51% of market as defined, interest rate 8%, conversion limited to total beneficial ownership of 4.99%	-		-	$	37,500

Note payable to related party, lien against company assets, unsecured, due 2/25/13, annual interest due, convertible at holders option at 51% of market as defined, interest rate 8%, conversion limited to total beneficial ownership of 4.99%	-		-	$	37,500

Note payable to related party, unsecured, lien against company assets, $731,763, 5-years at 0% simple interest, due 7/1/2016, payment amounts vary each month.	-	$	726,763	$	726,763

Note payable to related party, lien against company assets, unsecured, due 4/19/13, annual interest due, convertible at holders option at 51% of market as defined, interest rate 8%, conversion limited to total beneficial ownership of 4.99%	-		-	$	35,000

Note payable to non-related party, unsecured, due 08/29/2013, simple interest 8% convertible at holders option at $.249 per TransBiotec share.	-		-	$	15,000

Note payable to non-related party, unsecured, due 03/01/2013, simple interest 9%.	-		-	$	5,000

	$	748,845		$	826,523		$	965,659
Less current portion		(594,966	)		(277,260	)		(606,771	)
Long-term portion	$	153,879		$	549,263		$	358,888

Required principal payments from December 31, 2011 forward are as follows:

2012	$	266,260
2013	$	340,511
2014	$	196,881
2015	$	123,709
2016	$	38,298
	$	965,659

Interest expense under notes payable for the nine months ended September 30, 2012 and September 30, 2011 was $56,938 and $106,838, respectively.

During the nine months ended September 30, 2012 and September 30, 2011 the Company recognized a beneficial conversion feature expense on borrowing from convertible notes of $102,388 and none, respectively.

Convertible debenture payable to unrelated party, unsecured, due 04/1/2009,
convertible at holders option at $.25 per share,
interest rate 8% Default interest
rate 12%	$	30,000	$	30,000	$	-

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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