Sobr Safe Inc Stock Price, News & Analysis

SOBR Safe, a provider of innovative alcohol screening solutions, is expanding into the oil and gas sector through demonstrations of its SOBRcheck system, sponsored by TerraTech, a leading oilfield services firm. The oil and gas industry has a high binge drinking rate, with 26% of extraction workers affected. SOBRcheck, which detects alcohol through skin contact, aims to improve workplace safety and mitigate risks associated with binge drinking. The technology recently won Occupational Health & Safety 2022 New Product of the Year, highlighting its potential impact on the industry.

SOBR Safe, a leader in alcohol screening solutions, announced a cash position exceeding $10 million as of October 25, 2022, bolstered by a $6 million financing and over $3 million from exercised warrants. This financial boost will enhance their national sales team and expedite the development of SOBRcheck, a non-invasive alcohol detection technology recently recognized as New Product of the Year. The persistent challenges of alcohol abuse in the U.S., costing $249 billion annually, underscore the importance of SOBRsafe's innovative solutions.

SOBR Safe, Inc. (NASDAQ:SOBR) has announced that a major west coast commercial construction company is adopting its SOBRcheck™ technology for alcohol screening of over 400 employees. This transition from legacy screening methods confirms the effectiveness of SOBRsafe's sales strategy. The construction sector faces significant alcohol-related risks, accounting for over 20% of injuries, costing $12 billion annually. SOBRcheck's non-invasive detection technology aims to enhance workplace safety and has been recognized as Occupational Health & Safety's 2022 New Product of the Year.

SOBR Safe (NASDAQ:SOBR) announced a significant partnership with ABW Compliance Services, which has made a multi-unit purchase of the SOBRcheck alcohol screening solution. This collaboration aims to enhance workplace safety in critical industries, including aviation and shipping, by providing non-invasive alcohol testing for employees. ABW's founder emphasized a shift towards more inclusive workplace policies that encourage employee wellness and reduce alcohol-related incidents, aligning closely with SOBRsafe's values. SOBRcheck was recently recognized as the 2022 New Product of the Year in safety monitoring.

SOBR Safe, Inc. (NASDAQ:SOBR) has completed a $6 million private placement, facilitated by Aegis Capital Corp. as the exclusive placement agent. The funds will support the development of its non-invasive alcohol detection and identity verification technologies, including products like SOBRcheck and SOBRsure. Founded in 2004 and based in Greenwood Village, Colorado, SOBR Safe aims to innovate in the field of alcohol monitoring and identity verification for various applications.

SOBR Safe (NASDAQ:SOBR) announced the active market use of its Safe Driver solutions geared towards eliminating impaired driving. The NTSB recently underscored the need for innovative technologies to enhance road safety. SOBRsafe's passive alcohol detection system is already aiding companies like Continental Services. The firm also launched the SOBRsure wearable wristband and entered the rideshare market with RubiRides. SOBRsafe plans to release a version for teen drivers in Q1 2023, highlighting its commitment to creating safer driving conditions.

SOBR Safe, Inc. (NASDAQ:SOBR) announced the closing of a $6 million private placement with institutional investors. The company issued 1,925,677 units and 2,128,378 pre-funded units at a price of $1.48 per unit, with each including one share of common stock and a non-tradable warrant. The warrants are exercisable at $1.35 for seven years. The proceeds will support SOBRsafe's alcohol screening solutions aimed at reducing alcohol-related incidents in various industries. The securities sold are not registered under the Securities Act and are available only to accredited investors.

SOBR Safe, Inc. (Nasdaq:SOBR) has signed three reseller agreements with established national distributors to enhance its judicial sales strategy. This move aims to replace traditional breathalyzers in the American judicial market, significantly expanding their customer base. The Company plans to deploy over 20 sales professionals nationwide. SOBRsafe's touch-based alcohol detection technology is positioned as a game-changer in the industry, promising real-time results and advancing alcohol safety in various applications, including workplaces and rehabilitation programs.