In fact, if SOBR delivers the results intended, which historical performance indicates they will, this initial deal could lead to additional implementations across other critical, safety-sensitive functions and potentially expedite the pathway to earning revenue-generating business from among the 574 tribal nations in the United States. But here's the more significant reason investors should be excited about that agreement: it can open the door of revenue-generating opportunities to significantly more deals with the sovereign tribal nations. Of course, SOBR providing, and the tribe using, an unintrusive method of supporting safe operations is good news for all.
The deal calls for initially implementing the SOBRcheck™ technology to ensure its transit fleet is 100% alcohol-free. In addition to extending its financial runway, the strengthened balance sheet paves the way for SOBR to be even more opportunistic in executing its sales, integration, and licensing strategy.īefore completing its capital placement, SOBR announced signing a software as a service (SaaS) agreement with a prominent Native American tribe, a Self-Governing Nation in the United States serving thousands of members. More than timely before an expected chill in the credit markets, the fresh capital allows SOBR to expedite its revenue-generating mission to maximize value inherent to its innovative and disruptive alcohol-screening technology ahead of its original 2024 plan. Foremost, SOBR was raising capital timely, completing a $3.5 million convertible senior notes offering in March. And the better news for SOBR and its investors, the ride higher may be just getting started. Of course, SOBR's rise wasn't a coincidence it resulted from this smallcap company doing remarkable things related to alcohol screening and monitoring technology. In fact, it was one of the handfuls of stocks accruing any bullish momentum in any sector as investors flew from risk assets to safe haven holdings. Why? Because it closed green for the week, adding about 5% despite decidedly bearish market conditions.
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