SOBR Safe Faces Delisting Concerns
Ticker: SOBR · Form: 8-K · Filed: Oct 10, 2024 · CIK: 1425627
| Field | Detail |
|---|---|
| Company | Sobr Safe, Inc. (SOBR) |
| Form Type | 8-K |
| Filed Date | Oct 10, 2024 |
| Risk Level | high |
| Pages | 4 |
| Reading Time | 4 min |
| Key Dollar Amounts | $1.00, $2,500,000, $8.2 m, $2.5 million |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, listing-rule, compliance
Related Tickers: SOBR
TL;DR
SOBR might get kicked off Nasdaq - big trouble ahead.
AI Summary
SOBR Safe, Inc. filed an 8-K on October 10, 2024, reporting a notice of delisting or failure to satisfy a continued listing rule. The company's stock was previously traded on the Nasdaq Capital Market under the ticker symbol "SOBR". The filing indicates a potential issue with maintaining its listing on the exchange.
Why It Matters
This filing signals potential financial distress or non-compliance with exchange rules, which could significantly impact the stock's 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
- Nasdaq Capital Market (company) — Exchange where stock was listed
- SOBR (company) — Stock ticker symbol
FAQ
What specific listing rule or standard has SOBR Safe, Inc. failed to satisfy?
The filing does not specify the exact rule or standard that SOBR Safe, Inc. has failed to satisfy, only that it is a 'Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard'.
What is the date of the earliest event reported in this 8-K filing?
The date of the earliest event reported is October 4, 2024.
What is the primary business address of SOBR Safe, Inc.?
The primary business address is 6400 S. Fiddlers Green Circle, Suite 1400, Greenwood Village, Colorado 80111.
What was SOBR Safe, Inc. formerly known as?
SOBR Safe, Inc. was formerly known as TransBiotec, Inc. and IMAGINE MEDIA LTD.
What is the SEC file number for SOBR Safe, Inc.?
The SEC file number for SOBR Safe, Inc. is 001-41396.
Filing Stats: 1,065 words · 4 min read · ~4 pages · Grade level 15.2 · Accepted 2024-10-10 17:26:25
Key Financial Figures
- $1.00 — mmon 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
- $8.2 m — ivate Placement") for gross proceeds of $8.2 million, whereby the Company issued an ag
- $2.5 million — s stockholders' equity in excess of the $2.5 million requirement and publicly held shares ab
Filing Documents
- sobr_8k.htm (8-K) — 28KB
- 0001477932-24-006351.txt ( ) — 150KB
- sobr-20241004.xsd (EX-101.SCH) — 6KB
- sobr-20241004_lab.xml (EX-101.LAB) — 14KB
- sobr-20241004_cal.xml (EX-101.CAL) — 1KB
- sobr-20241004_pre.xml (EX-101.PRE) — 9KB
- sobr-20241004_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 (the "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 failur
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: October 10, 2024 By: /s/ David Gandini David Gandini, Chief Executive Officer 3