SOBR Safe Faces Delisting Concerns

TL;DR

SOBR Safe might get delisted, stock could be in trouble.

AI Summary

SOBR Safe, Inc. filed an 8-K on August 13, 2024, reporting a notice of delisting or failure to satisfy a continued listing rule or standard. The earliest event reported was on August 5, 2024. The company was formerly known as TransBiotec, Inc. and IMAGINE MEDIA LTD.

Why It Matters

This filing indicates potential issues with SOBR Safe, Inc.'s ability to remain listed on its exchange, which could significantly impact its stock liquidity and investor confidence.

Risk Assessment

Risk Level: high — A notice of delisting directly threatens the company's ability to trade on a major exchange, posing a significant risk to its operations and stock value.

Key Players & Entities

• SOBR Safe, Inc. (company) — Registrant
• TransBiotec, Inc. (company) — Former Company Name
• IMAGINE MEDIA LTD (company) — Former Company Name
• August 5, 2024 (date) — Earliest event reported
• August 13, 2024 (date) — Filing date

FAQ

Key Financial Figures

• $1.00 — common stock remained below the minimum $1.00 per share requirement for continued inc
• $2,500,000 — Capital Market to maintain a minimum of $2,500,000 in stockholders' equity for continued l

Filing Documents

• sobr_8k.htm (8-K) — 26KB
• 0001477932-24-004691.txt ( ) — 147KB
• sobr-20240805.xsd (EX-101.SCH) — 6KB
• sobr-20240805_lab.xml (EX-101.LAB) — 14KB
• sobr-20240805_cal.xml (EX-101.CAL) — 1KB
• sobr-20240805_pre.xml (EX-101.PRE) — 9KB
• sobr-20240805_def.xml (EX-101.DEF) — 2KB
• sobr_8k_htm.xml (XML) — 4KB

01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. As previously reported in a Current Report on Form 8-K filed November 21, 2023, on November 15, 2023, SOBR Safe, Inc. (the "Company") received a deficiency letter from the Listing Qualifications Department (the "Staff") of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that, for the preceding 30 consecutive business days, the closing bid price of the Company's common stock remained below the minimum $1.00 per share requirement for continued inclusion on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2) (the "Bid Price Requirement"). The Company was provided an initial period of 180 calendar days, or until May 13, 2024, (the "Compliance Period") to regain compliance with the Bid Price Requirement. As previously reported in the Company's Current Report on Form 8-K filed April 12, 2024, on April 8, 2024, the Company received a deficiency letter from the Staff notifying the Company that, based upon the Company's Annual Report on Form 10-K for the period ended December 31, 2023, the Company is not in compliance with the minimum stockholders' equity requirement set forth in Nasdaq Listing Rule 5550(b)(1), which requires companies listed on The Nasdaq Capital Market to maintain a minimum of $2,500,000 in stockholders' equity for continued listing (the "Stockholders' Equity Rule"). Pursuant to Nasdaq Listing Rule 5810(d)(2), the failure to comply with the Stockholders' Equity Rule became an additional and separate basis for delisting. As previously reported in the Company's Current Report on Form 8-K filed May 20, 2024, on May 15, 2024, the Company received a staff determination letter (the "Determination Letter") from the Staff notifying the Company that it had not regained compliance with the Bid Price Requirement by May 13, 2024, and was not eligible for a second 180-day period due to the Company's failure to comply with the

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SOBR Safe, Inc. a Delaware corporation Dated: August 12, 2024 By: /s/ David Gandini David Gandini, Chief Executive Officer 3

View Full Filing

View this 8-K filing on SEC EDGAR