SOBR Safe cash plummets 79% to $2.1M, going concern doubt emerges; reverse merger cedes 98% control

Filed April 30, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 15, 2025 · ~1 min read

Key Changes

• high

  Cash fell from $10.1M to $2.1M (79% decline) with $700K monthly burn, leaving ~3 months runway vs 15 months prior year. Management now states cash is inadequate for 12-month operations, reversing prior year's positive assessment.

  MD&A: Liquidity and Going Concern verify on EDGAR →
• high

  Announced reverse merger with Clean World Ventures where existing SOBR shareholders will own only 2% post-transaction, with CWV controlling board and management. Expected to close Q3 2026.

  MD&A: Merger Announcement verify on EDGAR →
• high

  Operating loss widened 18% to $2.31M despite 89% increase in device unit sales. Revenue declined 8.8% to $79K due to inventory constraints causing $31K in deferred sales, reversing prior year's 80% growth.

  MD&A: Operating Results verify on EDGAR →