SOBRsafe (NASDAQ: SOBR), a provider of next-generation, transdermal alcohol-detection solutions, is reporting on its NASDAQ listing, financial positioning and sales progress, noting that the NASDAQ Hearings Panel granted the company an exception period continuing the listing of its common stock on the NASDAQ exchange; the company has until Oct. 23, 2024, to regain compliance with the market’s $1 minimum bid price per share requirement and to demonstrate long-term compliance with the required minimum of $2.5 million in stockholders’ equity. The report also noted that the company continues to strengthen its financial position and restructure the composition of its equity. In addition, the company reported 17 new customer accounts, increasing its 2024 new customer total to 33 along with a 44% increase in revenue.
“We first entered our core market of behavioral health in Q4 2023, where our technology is reinventing the continuum of care by reducing redundancy, eliminating paper trails, creating digital records, improving billing processes and, most importantly, creating more time and focus for clinical practice,” said SOBRsafe CEO and chair Dave Gandini in the press release. “Consistent with our sales strategy, we are earning validation in the behavior health market. This is the first and most important step in building our industry brand, and empowers the range of continued customer adoption — from single location providers with fewer than 25 patients to providers with multiple facilities and larger patient populations.”
To view the full press release, visit https://ibn.fm/otMDZ
About SOBR Safe Inc.
SOBRsafe offers an advanced transdermal (touch-based) technology that detects and instantaneously reports in real time the presence of alcohol as emitted through a user’s skin — no breath, blood or urine sample is required. Alcohol misuse is the fourth-leading cause of preventable death in America and the seventh worldwide. Yet prevention and monitoring solutions have not kept pace with this epidemic. Legacy technologies are invasive, inefficient, unhygienic and unconnected. There has to be a better way. Enter SOBRsafe. With a powerful backend data platform, SOBRsafe provides next-generation, passive-detection technology for the behavioral health, judicial and consumer markets, as well as for licensing and integration. The SOBRsafe technology is commercially available for point-of-care screening (SOBRcheck) and continuous monitoring (SOBRsure). SOBRsafe is creating a culture of prevention and support. For more information about the company, visit www.SOBRsafe.com.
NOTE TO INVESTORS: The latest news and updates relating to SOBR are available in the company’s newsroom at http://ibn.fm/SOBR
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