SOBR Safe ramps up operations in Q3, plans to commercialize
BOULDER — SOBR Safe (OTCQB: SOBR), a company developing touch-based alcohol detection systems, reported a 174% year-over-year increase in its operating losses, to $2.02 million from $737,000, for the third quarter of 2021 as it ramps up operations and plans to commercialize its debut product.
SOBR Safe, which is a pre-revenue company, saw its operating expenses grow 139% to $1.66 million from $695,978. Research and development expenses increased 272% to $566,655 from $152,123.
SOBR Safe plans to commercialize SOBR Check, its touch-based identity verification and alcohol detection device, in the fourth quarter of 2022 or first quarter of 2023.
SPONSORED CONTENT
Federal District Court Rules Corporate Transparency Act Unconstitutional . . . But Most Small Businesses Must Still Comply
Lyons Gaddis Real Estate and Business Attorney Cameron Grant shares important details of the Corporate Transparency Act (CTA).
SOBR Safe stock closed Wednesday at $3.19 per share, up 16% for the day.
© 2021 BizWest Media LLC
BOULDER — SOBR Safe (OTCQB: SOBR), a company developing touch-based alcohol detection systems, reported a 174% year-over-year increase in its operating losses, to $2.02 million from $737,000, for the third quarter of 2021 as it ramps up operations and plans to commercialize its debut product.
SOBR Safe, which is a pre-revenue company, saw its operating expenses grow 139% to $1.66 million from $695,978. Research and development expenses increased 272% to $566,655 from $152,123.
SOBR Safe plans to commercialize SOBR Check, its touch-based identity verification and alcohol detection device, in the fourth quarter of 2022 or first quarter of 2023.
SOBR Safe stock closed…
THIS ARTICLE IS FOR SUBSCRIBERS ONLY
Continue reading for less than $3 per week!
Get a month of award-winning local business news, trends and insights
Access award-winning content today!