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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 6, 2025
SOBR SAFE, INC. |
(Exact name of registrant as specified in its charter) |
Delaware |
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000-53316 |
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26-0731818 |
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(State or other jurisdiction of incorporation) |
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(Commission File Number) |
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(IRS Employer Identification No.) |
6400 S. Fiddlers Green Circle, Suite 1400
Greenwood Village, Colorado 80111
(Address of principal executive offices) (zip code)
(844) 762-7723
(Registrant’s telephone number, including area code)
(Former name or former address if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
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Trading Symbol(s) |
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Name of each exchange on which registered |
Common Stock |
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SOBR |
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The Nasdaq Stock Market LLC (Nasdaq Capital Market) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August 7, 2025, SOBR Safe, Inc. (the “Company”), pursuant to approval by the Board of Directors of the Company (the “Board”), paid $100,000 in cash compensation for past services to the Company to the Company’s Chief Executive Officer and $70,000 in cash to the Company’s Chief Financial Officer.
In addition, pursuant to Board approval, the Company paid $50,000 in cash compensation for past services to the Company to Steve Beabout, a director of the Company, and $30,000 each to Ford Fay and Sandy Shoemaker, also directors of the Company.
Item 7.01. Regulation FD Disclosure.
On August 6, 2025, the Company sent out a press release announcing the grant by the European Patent Office to the Company of a European Patent for the Company’s SOBRcheck™ device. The full text of the press release referenced herein is furnished hereto as Exhibit 99.1 and incorporated herein by reference.
On August 7, 2025, the Company sent out a press release announcing its financial and operating results for the second quarter of 2025. The full text of the press release referenced herein is furnished hereto as Exhibit 99.2 and incorporated herein by reference.
The information in this Item 7.01 of the Form 8-K, including Exhibits 99.1 and 99.2, is furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing made by the Company under the Securities Act of 1933, as amended, whether made before or after the date hereof, regardless of any general incorporation language in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
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104 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document) |
2 |
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.
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SOBR Safe, Inc. a Delaware corporation |
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Dated: August 7, 2025 |
By: |
/s/ David Gandini |
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David Gandini, Chief Executive Officer |
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3 |
EXHIBIT 99.1
SOBR Safe Expands Global Intellectual Patent Portfolio with Issuance of European Patent
European Patent Office Grants Patent for the Company’s SOBRcheck™ Device
DENVER, August 6, 2025 – SOBR Safe, Inc. (Nasdaq: SOBR) (“SOBRsafe” or the “Company”), the leader in next-generation alcohol monitoring and detection technology, announced today that the European Patent Office (“EPO”) has granted a European Patent to SOBR Safe for the Company’s SOBRcheck™ device. The EPO published European Patent No. EP4171362 titled “NONINVASIVE TRANSDERMAL ALCOHOL SCREENING SYSTEM” on August 6, 2025, after issuing a Decision to Grant the patent application on July 10, 2025.
SOBRsafe’s new European Patent covers a variety of its alcohol detection devices, including the Company’s passive, non-invasive alcohol monitoring and detection technology that enables the identification of alcohol consumption emitted through perspiration from the skin without the need for breath, blood or other intrusive sampling methods. The European Patent secures the Company’s proprietary system architecture, including combining a transdermal alcohol sensor with a biometric identification scanner to provide an alcohol consumption measurement and identification of a user in a singular device with skin contact verification features to prevent tampering, and also evaluates environmental compensators that ensure accurate readings in real world conditions. In addition, the patent covers the device’s ability to store, analyze, and wirelessly transmit data for real time or retrospective monitoring. This foundational intellectual property strengthens SOBRsafe’s competitive advantage in workplace safety, judicial compliance, and wellness applications across the European market.
With a growing portfolio of proprietary technology, SOBRsafe is focused on expanding its international footprint. The company has a promising pipeline of opportunities with pilot tests in Europe set to commence in the second half of 2025.
“The granting of our European patent for the SOBRcheck™ device represents a major milestone in advancing our intellectual property portfolio and global expansion,” said SOBRsafe CEO David Gandini. “This patent affirms the uniqueness of our noninvasive alcohol monitoring and detection system and reinforces the significant investments we have made in research and development. Securing this patent strengthens our competitive position for potential expansion into the European market and lays a solid foundation for future partnerships and pilot programs. We remain focused on delivering reliable, rapid alcohol monitoring and detection solutions that improve safety and accountability worldwide.”
About SOBRsafe™
Through next-generation alcohol detection technology, we enable trust and empower recovery ... with a human touch. SOBRsafe's advanced transdermal (touch-based) technology detects and reports in real-time the presence of alcohol as emitted through a user's skin - no breath, blood, or urine samples are required. With a powerful backend data platform, SOBRsafe provides passive, dignified screening and monitoring solutions for the behavioral health, family law and consumer markets, and for licensing and integration. To learn more, visit www.sobrsafe.com.
| 1 |
Safe Harbor Statement
Our prospects here at SOBRsafe are subject to uncertainties and risks. This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 and the Company intends that such forward-looking statements be subject to the safe harbor provided by the foregoing. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this presentation. The Company cannot predict or determine after the fact what factors would cause actual results to differ materially from those indicated by the forward-looking statements or other statements. The reader should consider statements that include the words “believes”, “expects”, “anticipates”, “intends”, “estimates”, “plans", “projects”, “should”, or other expressions that are predictions of or indicate future events or trends, to be uncertain and forward-looking. We caution readers not to place undue reliance upon any such forward-looking statements. The Company does not undertake to publicly update or revise forward-looking statements, whether because of new information, future events or otherwise. Additional information respecting factors that could materially affect the Company and its operations are contained in the Company's filings with the SEC which can be found on the SEC's website at www.sec.gov.
Company Contact:
IR@sobrsafe.com
Investor Relations Contact:
Scott Liolios or Taylor Stadeli
Gateway Group
949-574-3860
SOBR@gateway-grp.com
| 2 |
EXHIBIT 99.2
SOBRsafe Reports Second Quarter 2025 Results
DENVER, August 7, 2025 – SOBR Safe, Inc. (Nasdaq: SOBR) (“SOBRsafe” or the “Company”), the leader in next-generation alcohol monitoring and detection technology, is reporting financial and operating results for the second quarter ended June 30, 2025.
Second Quarter 2025 Operational and Financial Highlights
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| · | Generated a 92.3% year-over-year and 20.3% quarter-over-quarter increase in total revenue. |
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| · | Gross margin increased 380 basis points year-over-year to 57.5% in the second quarter of 2025. |
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| · | Net loss improved to $2.0 million, compared to $2.1 million in the second quarter of 2024. |
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| · | SOBRsure TM GEN 2 related hardware and software revenues attributed 76.5% of total revenue during the quarter and 80.4% year to date. |
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| · | Shipped 178 SOBRsureTM GEN 2 devices in the second quarter, an increase of 35.9% compared to the first quarter of 2025. |
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| · | Annual recurring revenue from software subscription sales increased 109.6% year-over-year, representing 55.2% of total revenue for the quarter. |
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| · | Launched the next evolution of the Company’s business-to-business e-commerce platform which features enhanced ordering and segmentation capabilities, improved tracking of key metrics, and a refined mobile application experience. |
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| · | Completed supplementary independent third-party validation of SOBRsure™ GEN 2, confirming strong core sensing performance, rapid low-level alcohol detection, and environmental reliability, positioning SOBRsafe for accelerated market expansion and new commercial opportunities. |
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| · | Expanded global intellectual patent portfolio in August with the issuance of a European Patent for the SOBRcheck TM device, positioning SOBRsafe to broaden its international reach. |
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| · | Bolstered go-to-market strategy with the addition of two sales and marketing personnel. |
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| · | Initiated sales efforts in the Family Law market to drive adoption in this core vertical. |
“In the second quarter of 2025, we continued to build the foundation to accelerate future market adoption, delivering a 92% year-over-year and a 20% sequential increase in revenue,” said SOBRsafe CEO David Gandini. “While still in the early stages of commercialization, we are seeing promising demand for our SOBRsure™ GEN 2 devices, which we shipped 178 of this quarter, representing a 36% increase compared to Q1 2025.
“A major milestone this quarter was the additional independent third-party validation of SOBRsure GEN 2, which confirmed strong core sensing performance, rapid low-level detection, and environmental reliability of our technology. This validation reinforces the credibility of our solution with institutional buyers and provides a clear roadmap for future product enhancement, including advancements in adaptive calibration and cross-contamination mitigation. In parallel, we made important strides in go-to-market execution. We expanded our sales and marketing team, initiated targeted outreach in the Family Law market, and launched the next evolution of our business-to-business e-commerce platform. This upgraded platform features enhanced customer segmentation, streamlined online ordering, integrated sales tracking, and improved billing capabilities, all designed to make purchasing and managing SOBRsureTM solutions more intuitive, efficient, and scalable for our enterprise customers.
“We also laid critical groundwork for international expansion with the issuance of a European Patent for SOBRcheck™ and early-stage testing preparations in India and Italy. These efforts signal the growing relevance of our technology on a global scale. As we enter the second half of 2025, we believe SOBRsafe is well positioned to convert product validation and brand visibility into broader adoption and long-term value creation in a critical and underserved market.”
| 1 |
Second Quarter 2025 Financial Results
Revenue in the second quarter of 2025 increased 92.3% to $104.2 thousand compared to $54.2 thousand for the same period in 2024 and increased 20.3% compared to the first quarter of 2025. The sequential and year-over-year increases were driven by sales growth for the Company’s SOBRsureTM device and SOBRsureTM software subscriptions.
Gross profit in the second quarter of 2025 increased significantly to $59.9 thousand compared to $13.0 thousand for the same period in 2024. Gross margin was 57.5% in the second quarter of 2025, compared to an adjusted gross margin of 58.4% in the second quarter of 2024. The prior year period included a one-time write-off of $23.4 thousand related to inventory adjustments. The year-over-year margin improvement was largely due to increased SOBRsureTM device and software subscription sales.
Operating expenses in the second quarter of 2025 were $2.1 million compared to $1.9 million for the same period in 2024. The increase was primarily attributable to planned increases in head count and professional services spend.
Net loss in the second quarter of 2025 improved to $(2.0) million, or $(1.32) per diluted share, compared to a net loss of $(2.1) million before deemed dividends and warrant transaction costs of $0.3 million, or $(97.53) per diluted share, for the same period in 2024. The improvement reflects increased gross profit, partially offset by higher operating expenses. Note, the earnings per diluted share in prior year period has been adjusted for the 1-for-110 and 1-for-10 reverse split of the Company’s common stock on the Nasdaq Capital Markets effected October 2, 2024 and April 4, 2025, respectively.
Cash and cash equivalents were $8.5 million at June 30, 2025, compared to $8.4 million at December 31, 2024.
About SOBRsafe™
Through next-generation alcohol detection technology, we enable trust and empower recovery ... with a human touch. SOBRsafe's advanced transdermal (touch-based) technology detects and reports in real-time the presence of alcohol as emitted through a user's skin - no breath, blood, or urine samples are required. With a powerful backend data platform, SOBRsafe provides passive, dignified screening and monitoring solutions for the behavioral health, family law and consumer markets, and for licensing and integration. To learn more, visit www.sobrsafe.com.
Safe Harbor Statement
Our prospects here at SOBRsafe are subject to uncertainties and risks. This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 and the Company intends that such forward-looking statements be subject to the safe harbor provided by the foregoing Sections. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this presentation. The Company cannot predict or determine after the fact what factors would cause actual results to differ materially from those indicated by the forward-looking statements or other statements. The reader should consider statements that include the words "believes", "expects", "anticipates", "intends", "estimates", "plans", "projects", "should", or other expressions that are predictions of or indicate future events or trends, to be uncertain and forward-looking. We caution readers not to place undue reliance upon any such forward-looking statements. The Company does not undertake to publicly update or revise forward-looking statements, whether because of new information, future events or otherwise. Additional information respecting factors that could materially affect the Company and its operations are contained in the Company's filings with the SEC which can be found on the SEC's website at www.sec.gov.
Company Contact:
IR@sobrsafe.com
Investor Relations Contact:
Scott Liolios or Taylor Stadeli
Gateway Group
949-574-3860
SOBR@gateway-grp.com
| 2 |
| SOBR SAFE, INC. |
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| CONDENSED CONSOLIDATED BALANCE SHEETS |
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| June 30, |
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| December 31, |
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| 2025 |
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| 2024 |
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| ASSETS |
| (Unaudited) |
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| Current assets |
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| Cash |
| $ | 8,466,322 |
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| $ | 8,384,042 |
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| Accounts receivable, net |
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| 46,984 |
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| 24,460 |
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| Inventory |
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| 189,763 |
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| 224,875 |
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| Prepaid expenses |
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| 92,410 |
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| 192,637 |
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| Other current assets |
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| 4,142 |
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| 46,060 |
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| Total current assets |
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| 8,799,621 |
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| 8,872,074 |
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| Intellectual technology, net |
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| 1,895,233 |
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| 2,087,965 |
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| Operating lease right-of-use assets, net |
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| 134,439 |
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| 183,737 |
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| Other assets |
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| 27,427 |
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| 27,427 |
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| Total Assets |
| $ | 10,856,720 |
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| $ | 11,171,203 |
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| LIABILITIES & STOCKHOLDERS' EQUITY |
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| Current liabilities |
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| Accounts payable |
| $ | 501,150 |
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| $ | 422,557 |
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| Accrued expenses |
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| 2,005,041 |
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| 498,128 |
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| Accrued interest payable |
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| 109,752 |
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| 105,501 |
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| Deferred revenue |
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| 13,680 |
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| - |
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| Operating lease liabilities, current portion |
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| 118,619 |
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| 111,303 |
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| Notes payable - related parties, net |
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| 11,810 |
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| 11,810 |
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| Notes payable - non-related parties, net |
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| 26,683 |
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| 127,590 |
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| Total current liabilities |
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| 2,786,735 |
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| 1,276,889 |
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| Operating lease liabilities, less current portion |
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| 30,883 |
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| 91,993 |
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| Total Liabilities |
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| 2,817,618 |
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| 1,368,882 |
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| Commitments and contingencies |
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| Stockholders' Equity |
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| Common stock, $0.00001 par value; 100,000,000 shares authorized, 1,516,238 and 936,926 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively |
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| 15 |
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| 94 |
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| Treasury stock, at cost; 17 and 16 shares as of June 30, 2025 and December 31, 2024, respectively |
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| (38,015 | ) |
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| (38,015 | ) |
| Additional paid-in capital |
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| 110,384,477 |
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| 108,222,324 |
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| Accumulated deficit |
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| (102,253,679 | ) |
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| (98,328,395 | ) |
| Total SOBR Safe, Inc. stockholders' equity |
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| 8,092,798 |
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| 9,856,008 |
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| Noncontrolling interest |
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| (53,696 | ) |
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| (53,687 | ) |
| Total Stockholders' Equity |
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| 8,039,102 |
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| 9,802,321 |
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| Total Liabilities and Stockholders' Equity |
| $ | 10,856,720 |
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| $ | 11,171,203 |
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| 3 |
SOBR SAFE, INC.
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
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| For The Three Months Ended June 30, |
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| For The Six Months Ended June 30, |
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| 2025 |
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| 2024 |
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| 2025 |
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| 2024 |
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| (Unaudited) |
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| (Unaudited) |
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| (Unaudited) |
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| (Unaudited) |
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| Revenues |
| $ | 104,228 |
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| $ | 54,191 |
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| $ | 190,845 |
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| $ | 102,181 |
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| Cost of goods and services |
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| 44,344 |
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| 41,156 |
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| 79,997 |
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| 65,937 |
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| Gross profit |
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| 59,884 |
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| 13,035 |
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| 110,848 |
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| 36,244 |
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| Operating expenses: |
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| General and administrative |
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| 1,815,028 |
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| 1,395,933 |
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| 3,638,497 |
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| 2,811,495 |
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| Stock-based compensation expense |
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| 115,252 |
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| 185,910 |
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| 254,930 |
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| 400,308 |
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| Research and development |
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| 198,675 |
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| 308,427 |
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| 239,599 |
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| 410,461 |
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| Total operating expenses |
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| 2,128,955 |
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| 1,890,270 |
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| 4,133,026 |
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| 3,622,264 |
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| Loss from operations |
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| (2,069,071 | ) |
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| (1,877,235 | ) |
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| (4,022,178 | ) |
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| (3,586,020 | ) |
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| Other income (expense): |
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| Other income, net |
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| 75,713 |
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| 13,157 |
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| 153,430 |
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| 34,412 |
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| Notes payable – conversion expense |
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| - |
|
|
| - |
|
|
| - |
|
|
| (585,875 | ) |
| Interest expense |
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| (2,127 | ) |
|
| (213,296 | ) |
|
| (5,792 | ) |
|
| (445,812 | ) |
| Total other income (expense), net |
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| 73,586 |
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|
| (200,139 | ) |
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| 147,638 |
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|
| (997,275 | ) |
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|
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|
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| Loss before provision for income taxes |
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| (1,995,485 | ) |
|
| (2,077,374 | ) |
|
| (3,874,540 | ) |
|
| (4,583,295 | ) |
|
|
|
|
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|
|
|
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|
|
|
|
|
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| Provision for income taxes |
|
| - |
|
|
| - |
|
|
| - |
|
|
| - |
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|
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|
|
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| Net loss |
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| (1,995,485 | ) |
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| (2,077,374 | ) |
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| (3,874,540 | ) |
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| (4,583,295 | ) |
| Net loss attributable to noncontrolling interest |
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| 5 |
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| 4 |
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| 9 |
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| 9 |
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| Net loss attributable to SOBR Safe, Inc. |
| $ | (1,995,480 | ) |
| $ | (2,077,370 | ) |
| $ | (3,874,531 | ) |
| $ | (4,583,286 | ) |
|
|
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|
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|
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|
|
|
|
|
|
|
|
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| Deemed dividends related to Convertible Debt Warrants down round provision |
|
| - |
|
|
| - |
|
|
| (1,833 | ) |
|
| (23,270 | ) |
| Deemed dividends related to 2024 PIPE Warrants down round provision |
|
| - |
|
|
| (4,336 | ) |
|
| (1,547 | ) |
|
| (46,875 | ) |
| Deemed dividends related to Original Warrants and New Warrants down round provision |
|
| - |
|
|
| - |
|
|
| - |
|
|
| (1,455,805 | ) |
| Deemed Dividends related to 2024 PIPE Warrants round down provision |
|
| - |
|
|
| - |
|
|
| (47,373 | ) |
|
| - |
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| Warrant Inducement transactional costs |
|
| - |
|
|
| (341,297 | ) |
|
| - |
|
|
| (341,297 | ) |
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|
|
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|
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| Net loss attributable to common stockholders |
| $ | (1,995,480 | ) |
| $ | (2,423,003 | ) |
| $ | (3,925,284 | ) |
| $ | (6,450,533 | ) |
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| Basic and diluted loss per common share |
| $ | (1.32 | ) |
| $ | (113.76 | ) |
| $ | (2.77 | ) |
| $ | (333.84 | ) |
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| Weighted average number of common shares outstanding |
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| 1,516,202 |
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| 21,300 |
|
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| 1,418,915 |
|
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| 19,322 |
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| 4 |
| SOBR SAFE, INC. |
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| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS |
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|
| For The Six Months Ended |
|
|||||
|
|
| June 30, |
|
|||||
|
|
| 2025 |
|
| 2024 |
|
||
|
|
| (Unaudited) |
|
| (Unaudited) |
|
||
| Operating Activities: |
|
|
|
|
|
|
||
| Net loss |
| $ | (3,874,540 | ) |
| $ | (4,583,295 | ) |
|
|
|
|
|
|
|
|
|
|
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
|
|
|
|
|
|
| Amortization of intangible assets |
|
| 192,732 |
|
|
| 192,732 |
|
| Amortization of debt discounts |
|
| - |
|
|
| 237,250 |
|
| Non-cash lease expense |
|
| 49,298 |
|
|
| 44,284 |
|
| Non-cash interest expense |
|
| - |
|
|
| 336,510 |
|
| Non-cash conversion expense |
|
| - |
|
|
| 585,875 |
|
| Bad debt expense |
|
| - |
|
|
| 202 |
|
| Stock-based compensation expense |
|
| 254,930 |
|
|
| 400,307 |
|
| Changes in assets and liabilities: |
|
|
|
|
|
|
|
|
| Accounts receivable |
|
| (22,524 | ) |
|
| (9,708 | ) |
| Inventory |
|
| 35,112 |
|
|
| 60,844 |
|
| Prepaid expenses |
|
| 115,082 |
|
|
| 81,051 |
|
| Other assets |
|
| 41,918 |
|
|
| (6,002 | ) |
| Accounts payable |
|
| 63,738 |
|
|
| (5,912 | ) |
| Accrued expenses |
|
| (133,086 | ) |
|
| (208,213 | ) |
| Accrued interest payable |
|
| 4,251 |
|
|
| (128,214 | ) |
| Deferred revenue |
|
| 13,680 |
|
|
| - |
|
| Operating lease liabilities |
|
| (53,794 | ) |
|
| (46,872 | ) |
|
|
|
|
|
|
|
|
|
|
| Net cash used in operating activities |
|
| (3,313,203 | ) |
|
| (3,049,161 | ) |
|
|
|
|
|
|
|
|
|
|
| Financing Activities: |
|
|
|
|
|
|
|
|
| Repayments of notes payable - non-related parties |
|
| (100,907 | ) |
|
| - |
|
| Proceeds from exercise of stock warrants |
|
| 3,680,411 |
|
|
| 2,786,174 |
|
| Payment of transactional costs for exercise of warrants |
|
| (184,021 | ) |
|
| (360,756 | ) |
| Net cash provided by financing activities |
|
| 3,395,483 |
|
|
| 2,425,418 |
|
|
|
|
|
|
|
|
|
|
|
| Net Change In Cash |
|
| 82,280 |
|
|
| (623,743 | ) |
|
|
|
|
|
|
|
|
|
|
| Cash At The Beginning Of The Period |
|
| 8,384,042 |
|
|
| 2,790,147 |
|
|
|
|
|
|
|
|
|
|
|
| Cash At The End Of The Period |
| $ | 8,466,322 |
|
| $ | 2,166,404 |
|
|
|
|
|
|
|
|
|
|
|
| Schedule Of Non-Cash Investing And Financing Activities: |
|
|
|
|
|
|
|
|
| True-up payment accrual related to 2024 PIPE Warrants |
| $ | (1,640,000 | ) |
| $ | - |
|
| Deemed dividends related to Convertible Debt Warrants down round provision |
| $ | (1,833 | ) |
| $ | 23,270 |
|
| Deemed dividends related to 2022 PIPE Warrants down round provision |
| $ | (1,547 | ) |
| $ | 46,875 |
|
| Deemed dividends related to Original Warrants and New Warrants down round provision |
| $ | - |
|
| $ | 1,455,805 |
|
| Deemed dividends related to 2024 PIPE warrants round down provision |
| $ | (47,373 | ) |
| $ | - |
|
| Non-related party debt converted to capital |
| $ | - |
|
| $ | 2,879,279 |
|
| Warrant inducement transactional costs |
| $ | - |
|
| $ | 341,297 |
|
| Financing of prepaid insurance premiums |
| $ | - |
|
| $ | 37,649 |
|
|
|
|
|
|
|
|
|
|
|
| Supplemental Disclosure: |
|
|
|
|
|
|
|
|
| Cash paid for interest |
| $ | 1,541 |
|
| $ | 266 |
|
| Cash paid for income taxes |
| $ | - |
|
| $ | - |
|
| 5 |