SOBR Safe faces Nasdaq delisting risk after stock falls below $1; accumulated deficit grows to $107M

Filed April 10, 2026 · Period ending December 31, 2025 · Compared to 10-K Apr 15, 2025 · ~2 min read

Key Changes

• high

  Received March 2026 Nasdaq deficiency letter for bid price below $1.00; cumulative 1-for-1100 reverse split over two years disqualifies company from standard 180-day cure period. Company has appealed but may need another reverse split.

  Risk Factors: Nasdaq deficiency verify on EDGAR →
• high

  Accumulated deficit increased $8.5M to $106.9M (Dec 2025 vs Dec 2024); company remains pre-revenue with recurring losses since inception. Proposed Nasdaq rule requiring $5M minimum market value (vs current $2.5M) could trigger immediate delisting if approved.

  Risk Factors: Accumulated deficit & MVLS rule verify on EDGAR →
• high

  Expanded addressable market disclosure: 29M U.S. individuals with Alcohol Use Disorder, 26M untreated; Q4 2025 market research validated demand for SOBRsure among moderate-to-severe recovery populations, with ~50% of potential market unaware of wearable alcohol detection.

  MD&A: AUD market & research verify on EDGAR →