Sobr Safe Inc is engaged in developing alcohol-detecting devices to address the automotive alcohol sensing spectrum. The company has developed an alcohol detection device called SOBR. This device is patented and is used for detecting alcohol in a human system by testing the ethanol content in the perspiration.
As of a press release on October 25, 2022, the company announced that its cash on hand has now exceeded $10 million, through a combination of existing reserves, its recent $6 million financing (more on this later) and over $3 million in proceeds from warrants exercised.
NASDAQ: SOBR’s public float as of Oct 14, 2022 was approximately 7 million shares.
Chairman and CEO Dave Gandini. “This cash on hand empowers us to accelerate the building of our national sales team and gives us the opportunity to ‘pull forward’ value-added features that drive increased margin and key differentiation in the detection market. Finally, we believe we have the cash to fully implement and execute on our business plan in 2023 and beyond.(1)
Let’s take a look at the industry…
- 4.7 % of workplace injuries are linked to alcohol
- Nearly half of all industrial accidents with injuries are alcohol-related, and 1-in-10 U.S. commercial drivers test positive for alcohol (the highest rate worldwide).
- There were 1.2 million alcohol related workplace injuries 2020 in the United States
- 13 % of US commercial drivers test positive for alcohol
- 437 drivers under the influence on roadways (2)
In fact… The annual cost of alcohol abuse in the United states is $249 Billion dollars. (3)
Alcohol testing and prevention systems have a lucrative space in an expanding market that spans mental health as well as workplace safety.
(NASDAQ: SOBR) technology is being deployed for commercial fleets, workplaces, alcohol rehabilitation and probation management environments.
Looking forward, the company has announced the intention to expand the product’s application to include airlines and young drivers.
This patent-pending alcohol detection solution will prevent intoxicated workers from utilizing machinery in a dangerous manner, decreasing insurance costs for companies, as well as increasing safety within the workplace.
When utilizing this technology, an offender is immediately flagged, and an administrator is empowered to take the appropriate corrective actions.
(NASDAQ: SOBR)’s mission is to create a culture of prevention and support.
This company’s advanced technology is disrupting the alcohol management industry by focusing on preventative solutions instead of the reactive process.
SOBR Safe Inc.recently signed a SaaS agreement with Alternatives Inc., a Montana-based company and a leader in innovative corrections and re-entry strategies following alcohol abuse.(4)
Alternatives Inc. offers a wide range of services to its more than 7,000 clients, including 450 state, federal and work release clients across two residential programs.
Alternatives has installed SOBR check devices at the entry points of its men’s facility, using this new technology to confirm identity and sobriety with just the touch of a finger – no manual ID logging, or invasive breath, blood or urine samples required.
“SOBR check’s innovative technology creates significant efficiencies, freeing up invaluable time to empower client recovery…The technology is much faster and more sanitary than breathalyzers, and with its biometric identity verification it lets our employees always know ‘who is who’ – even with a constantly changing clientele. We also face other challenges to breath testing, as many clients suffer from limited lung capacity while others try to ‘game’ the system by altering their breathing. The touch-based SOBR check solves both problems” (5)
– Alternatives Founder and CEO Dave Armstrong
SOBR Safe Inc. technology is a more hygienic testing system than alternatives, while remaining a cost effective solution for federal institutions.
- SOBR Safe (NASDAQ:SOBR) entered into a securities purchase agreement with institutional investors for aggregate gross proceeds of approximately $6M.
- The Company will issue 4.05M units and pre-funded units at a purchase price of $1.48 per unit priced at-the-market under NASDAQ rules.
- The pre-funded units will be sold at the same price less the pre-funded warrant exercise price of $0.001.(6)
But there’s more…
The company paired with Amazon delivery in a test capacity with astounding results. In fact the Field study with an Amazon Delivery Service Partner resulted in 558 scans in just one month, with 40 participants failing. (7)
The efficacy of the SOBR Safe Inc. technology presents the opportunity for significant recurring revenue.
This revenue model
- $15 billion+ Revenue Opportunity – across core markets Justice Rehabilitation, Fleet & Workplace
✓ First-to-Market Monitoring Technology – proprietary, innovative platform for detecting alcohol within a flexible, scalable framework
✓ Key Strategic Partnerships – Product and go-to-market strategy
supported by significant firms in manufacturing, customer service
✓ Recognized Support – Endorsements from insurers, alcohol
testing providers, DUI probation agencies and employers
✓ Customer Adoption, in Revenue – 5 customers and 3 distributors
across core markets Justice, Rehabilitation, Fleet & Workplace
✓ Compelling Financial Model – Opportunity for significant top-line
growth, recurring revenues and expanding gross margins
✓ Winning Team – Experienced leadership with technology product
rollout expertise, backed by strong sales and marketing team
Digital Marketing Agency of Record: GloBull Technologies Inc., (“GloBull”).
1) The author of the Article, or members of the author’s immediate household or family, do not own any securities of the companies set forth in this Article. The author determined which companies would be included in this article based on research and understanding of the sector.
2) The Article was issued on behalf of and sponsored by SOBR Safe Inc. (NASDAQ:SOBR). GloBull, has or expects to receive from SOBR Safe Inc. (NASDAQ:SOBR) $7500.00 for 30 days (22 BUSINESS DAYS).
3) Statements and opinions expressed are the opinions of the author and not GloBull, its directors or officers. The author is wholly responsible for the validity of the statements. The author was not paid by GloBull for this Article. GloBull was not paid by the author to publish or syndicate this Article. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. GloBull requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. GloBull, relies upon the authors to accurately provide this information and GloBull, has no means of verifying its accuracy.
5) GloBull, and its respective directors, officers and employees hold no shares for any company mentioned in the Article.
6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management’s expectations regarding SOBR Safe Inc. (NASDAQ:SOBR)’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements.
These forward-looking statements include, among other things, statements relating to:
(a) revenue generating potential with respect to SOBR Safe Inc. (NASDAQ:SOBR)’s industry;
(b) market opportunity;
(c) SOBR Safe Inc. (NASDAQ:SOBR)’s business plans and strategies;
(d) services that SOBR Safe Inc. (NASDAQ:SOBR) intends to offer;
(e) SOBR Safe Inc. (NASDAQ:SOBR)’s milestone projections and targets;
(f) SOBR Safe Inc. (NASDAQ:SOBR)’s expectations regarding receipt of approval for regulatory applications;
(g) SOBR Safe Inc. (NASDAQ:SOBR)’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and
(h) SOBR Safe Inc. (NASDAQ:SOBR)’s expectations regarding its ability to deliver shareholder value.
Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about:
(a) the ability to raise any necessary additional capital on reasonable terms to execute SOBR Safe Inc. (NASDAQ:SOBR)’s business plan;
(b) that general business and economic conditions will not change in a material adverse manner;
(c) SOBR Safe Inc. (NASDAQ:SOBR)’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis;
(d) SOBR Safe Inc. (NASDAQ:SOBR)’s ability to enter into contractual arrangements with additional Pharmacies;
(e) the accuracy of budgeted costs and expenditures;
(f) SOBR Safe Inc. (NASDAQ:SOBR)’s ability to attract and retain skilled personnel;
(g) political and regulatory stability;
(h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms;
(i) changes in applicable legislation;
(j) stability in financial and capital markets; and
(k) expectations regarding the level of disruption as a result of CV-19.
Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance, or achievements of SOBR Safe Inc. (NASDAQ:SOBR) to be materially different from any future plans, intentions, activities, results, performance, or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation:
(a) SOBR Safe Inc. (NASDAQ:SOBR)’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations;
(b) public health crises such as CV-19 may adversely impact SOBR Safe Inc. (NASDAQ:SOBR)’s business;
(c) the volatility of global capital markets;
(d) political instability and changes to the regulations governing SOBR Safe Inc. (NASDAQ:SOBR)’s business operations
(e) SOBR Safe Inc. (NASDAQ:SOBR) may be unable to implement its growth strategy; and
(f) increased competition.
Except as required by law, SOBR Safe Inc. (NASDAQ:SOBR) undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does SOBR Safe Inc. (NASDAQ:SOBR) nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency, or completeness of the information in this document. Neither SOBR Safe Inc. (NASDAQ:SOBR) nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.
7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of SOBR Safe Inc. (NASDAQ:SOBR) or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of SOBR Safe Inc. (NASDAQ:SOBR) or such entities and are not necessarily indicative of future performance of SOBR Safe Inc. (NASDAQ:SOBR) or such entities.
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