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.

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 Wednesday at $3.19 per share, up 16% for the day. 

© 2021 BizWest Media LLC