SOBR Safe, Inc. 8-K

What Happened
On March 19, 2026, SOBR Safe, Inc. (ticker: SOBR) received a deficiency letter from the Nasdaq Listing Qualifications Department notifying the company that its common stock closed below the $1.00 per share minimum for the preceding 30 consecutive business days, violating Nasdaq Listing Rule 5550(a)(2). Nasdaq noted the company effected a 1-for-110 reverse stock split on October 2, 2024 and a 1-for-10 reverse split on April 4, 2025 (cumulative 1-for-1,100), which makes the company ineligible for the standard 180-day compliance period under Rule 5810(c)(3)(A). The notice does not have an immediate effect on trading or the company’s SEC reporting.

Key Details

• Date of Nasdaq letter: March 19, 2026.
• Closing bid price breach: below $1.00 for the preceding 30 consecutive business days (Nasdaq Rule 5550(a)(2)).
• Reverse splits: 1-for-110 (Oct 2, 2024) and 1-for-10 (Apr 4, 2025); cumulative ratio 1-for-1,100 → ineligible for 180-day cure period.
• Company response: plans to timely appeal to a Nasdaq hearings panel and will submit a plan to regain compliance (may include a reverse stock split); the appeal automatically stays any suspension or delisting pending the hearing.

Why It Matters
A delisting from Nasdaq could lead to suspension of trading in SOBR shares, reduced liquidity, and potentially limit investor access to the stock. The company’s timely appeal pauses any immediate delisting action while it pursues a compliance plan, but the filing warns there is no assurance the company will regain compliance. Investors should monitor the appeal outcome and any future corporate actions (e.g., share consolidation) the company may take to meet Nasdaq’s bid price requirement.