SOBR Safe reduced operating loss by more than $22M in 2021
BOULDER — Sobr Safe Inc. (OTCQB: SOBR), a company developing touch-based alcohol-detection systems, reduced its operating loss for the 2021 fiscal year to $7.87 million from $29.9 million in 2020, a decrease of 73.7%.
The biggest contributor for the reduction was a $25 million asset impairment coming off the company’s books.
Sobr Safe also increased its operating expenses to $3.88 million from $2.01 million, a 93% increase.
The company has not yet had any revenues. It first commercialized its debut device, Sobr Check, in the fourth quarter of 2021. However, orders for those devices were not delivered until January 2022, so the revenue from those sales will be counted for the first quarter of 2022.
Sobr Safe ended 2021 with $934,282 in cash and equivalents on hand.
BOULDER — Sobr Safe Inc. (OTCQB: SOBR), a company developing touch-based alcohol-detection systems, reduced its operating loss for the 2021 fiscal year to $7.87 million from $29.9 million in 2020, a decrease of 73.7%.
The biggest contributor for the reduction was a $25 million asset impairment coming off the company’s books.
Sobr Safe also increased its operating expenses to $3.88 million from $2.01 million, a 93% increase.
The company has not yet had any revenues. It first commercialized its debut device, Sobr Check, in the fourth quarter of 2021. However, orders for those devices were not delivered until January 2022, so the revenue…
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