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SOBR Safe: A First-Mover In Workplace And Motor Vehicle Safety

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SOBR Safe (NASDAQ:SOBR) intends to disrupt nan intoxicant testing manufacture by replacing breathalyzers pinch transdermal products. Breathalyzers person been around since 1954 but person not been a solution to nan economical and information issues created by intoxicant depletion successful nan workplace and centrifugal vehicles. Let's return a look astatine nan problem and nan SOBR Safe solution.

The Problem

Statistics show that 50% of American adults portion intoxicant much than 10 times a twelvemonth and that astatine slightest 11% of Americans person an addiction problem. Alcohol and narcotics are nan starring causes of nan workplace and automotive accidents. Studies show that intoxicant aliases narcotics contributed to 65 percent of on-the-job accidents and almost half of nan workman's compensation claims. It is estimated that these accidents costs employers and security companies astir $100 cardinal per year.

The U.S. Department of Transportation reports that intoxicant is progressive successful astir 40% of U.S. automobile accidents resulting in, connected average, 32 deaths per day.

SOBR Solution

SOBR Safe offers a stationary merchandise called SOBRcheck and a wearable wristband called SOBRsure. Both products place nan taxable by biometrics and are transdermal products that observe intoxicant evaporating done tegument pores.

An employer tin person labor spot a digit connected SOBRcheck astatine nan opening and extremity of their activity shifts. SOBRcheck identifies nan personification and alerts if intoxicant is detected.

SOBRsafe™ | Touch-Based, Preventative Alcohol Detection

SOBRcheck (SOBR Safe)

SOBRsure is simply a wristband that uses nan aforesaid exertion arsenic SOBRcheck and is designed to beryllium worn by intoxicant rehabilitation patients and labor specified arsenic fleet drivers and instrumentality operators. Bluetooth connects SOBRsure to a compartment phone. An siren is sent to a monitoring app if nan wristband is removed aliases intoxicant is detected.

Wrist-band instrumentality for intoxicant monitoring wins U.S. prize

SOBRsure (SOBR Sure website)

Product Advantages

SOBR Safe products connection a much sanitary solution than breathalyzers, which is important successful this property of COVID, arsenic they do not expose anyone to germs from breathing and saliva. SOBR Safe offers greater easiness of usage and flexibility. Administering breathalyzer testing astatine nan entranceway to a workplace creates a bottleneck, while SOBRcheck takes conscionable seconds to perform, and SOBRsure is automatic. SOBR Safe products do not require changeless guidance and connection effortless and continuous distant supervision and information collection.

There are each kinds of theories connected how to instrumentality breathalyzers, from chewing pennies to holding your breath. These theories whitethorn aliases whitethorn not beryllium accurate, but nan bottommost statement is that breathalyzer results are notoriously known for being inaccurate. As of this writing, SOBR Safe products do not measurement nan magnitude of intoxicant successful nan bloodstream. SOBR Safe claims to beryllium 93% meticulous successful determining nan beingness of alcohol. An Independent third-party information is presently being conducted.

Company Strategy

The institution is targeting workplace information and intoxicant rehabilitation for its customer base. In workplace safety, nan first extremity is to trim nan consequence of accidents by testing labor astatine nan opening and extremity of nan activity shift, eliminating nan opportunity to activity nether nan power of alcohol. A by-product of this testing is information aggregation that SOBR Safe will connection security companies to create and beforehand information programme incentives for their clients.

SOBR Safe is not pursuing marketplace stock successful nan full intoxicant rehabilitation space. The institution is seeking to pull voluntary intoxicant rehabilitation centers and debar nan court-mandated intoxicant testing market.

A 3rd marketplace opportunity is processing arsenic drunk driving prevention detectors in each caller car sold successful nan U.S. will beryllium required by rule opening successful 2026. To meet this opportunity, SOBR Safe must adhd humor intoxicant measuring capabilities to its technology.

Revenue Model

The institution has a nonstop income unit of four, including nan income head and 10 distributors progressive solely successful trading supplier and intoxicant discovery products. SOBR Safe is besides collaborated pinch a apical 100 security institution encouraging its customers to usage SOBR Safe products. The institution is moving to found akin partnerships pinch further security companies.

The compilation of information arsenic SOBR Safe gains caller customers will heighten nan expertise to pull caller security institution partners and companies and authorities agencies seeking to trim workplace and centrifugal conveyance accidents. SOBR Safe besides offers to licence its transdermal exertion for third-party use.

SOBR Safe has NDAs aliases is establishing NDAs pinch BMW, Ford, and GM to create a telematics solution to meet nan upcoming legislative requirements for intoxicant monitoring systems for caller automotive vehicles.

Management has created a debased capex business scheme by partnering pinch BGM Engineering for design, testing, and manufacturing, pinch Helm for packaging, distribution, and customer relations, and utilizing distributors arsenic a ample information of their income team.

The SOBRcheck merchandise is offered astatine $600, and SOBRsure astatine $400 per unit. The institution charges $30/month per personification for monitoring and intoxicant detection.

Path to Profitability

There are astir 15 cardinal shares. The institution has astir $8 cardinal successful rate and nary debt. The pain complaint is presently astir $6 M/year. $14 cardinal will go disposable from converting warrants. There is capable backing for astatine slightest nan adjacent 12 months.

The astir precocious announced SOBR Safe contract is pinch TerraTech, which has astir 200 employees. The statement will costs TerraTech $72K per twelvemonth if TerraTech puts a SOBR Sure wristband for each employee. Department of Labor statistics indicates that a institution pinch 200 employees, including 100 drivers, incurs complete $300K per twelvemonth n costs owed to intoxicant and drug-related accidents. This calculation implies a 4th of a cardinal dollars successful savings for a institution akin to TerraTech utilizing SOBR Safe's technology.

SOBR Safe has announced six contracts since commencing commercialized income past summer. I estimate that SOBR Safe will reap astir a 4th of a cardinal dollars complete nan adjacent 12 months from these contracts factoring successful hardware income and monthly show charges. Over 100 customers will beryllium basal to execute profitability.

Competition

The only different commercialized transdermal intoxicant testing instrumentality I could find is made by Scram Systems, which merged pinch LMG Holdings astir a twelvemonth ago. Scram's instrumentality is simply a locked, court-ordered intoxicant monitoring ankle bracelet that does not compete pinch SOBRsure's intended market.

LMG Holdings offers breathalyzers that fastener an automotive vehicle's ignition if nan subject's intoxicant humor level is detected supra ineligible limits. This instrumentality targets nan court-ordered marketplace and does not compete pinch SOBR Safe.

The ineligible request to adhd intoxicant discovery exertion to caller centrifugal vehicles will pull caller entrants pinch caller technologies and connection SOBR Safe competition. One illustration is Sensear, a Swedish company, processing sensors that would beryllium placed connected a centrifugal conveyance doorway aliases connected nan dashboard pinch nan ability to observe intoxicant successful nan air.

Risks

SOBR Safe is introducing caller products and has yet to beryllium marketplace acceptance. The institution has yet to person its accuracy declare independently validated aliases validated by nan marketplace. New technology, specified arsenic nan touchless exertion being developed by Sensear could beryllium superior alternatives.

The institution protects its exertion pinch patents for each of nan 2 products offered and has respective patents pending to limit title arsenic nan exertion is updated. The company's occurrence depends connected defending against reverse engineering connected nan spot of its patents.

Conclusion

SOBR Safe is simply a first mover attempting to switch breathalyzers arsenic nan astir communal intends of intoxicant testing. The institution offers products that are much sanitary and easier to use. Statistics show that alcohol-related workplace and centrifugal conveyance accidents are costly. SOBR Safe provides a proactive intends to destruct introduction of intoxicant into a workplace situation and for effortless monitoring of voluntary intoxicant rehabilitation patients. Management has established an soul and outer income web and a low-capex business scheme and secured six customers successful conscionable a fewer months from entering nan commercialized stage. I've taken a position and will beryllium monitoring connected nan continuing execution of nan institution business plan.

Editor's Note: This article covers 1 aliases much microcap stocks. Please beryllium alert of nan risks associated pinch these stocks.

This article was written by

Sergio Heiber floor plan picture

I constitute astir and put successful mostly early commercialized shape companies that person a ample TAM and zero to small nonstop competition. I will supply updates connected companies that I present arsenic agelong arsenic nan goalposts group by guidance are met. Of course, location are ever unforeseen developments much often successful nan microcap world than different and location are macro conditions that are beyond nan power of institution management. I'm besides not ever correct but I for illustration nan risk/reward characteristics of investing successful micro-caps.My articles are reflective of my finance interests and hopefully supply readers pinch ideas that they tin further explore. I thin to beryllium connected nan agelong broadside and mostly abstain from penning antagonistic aliases short themes. Besides my articles connected SA, readers tin find my activity astatine MicroCapClub.com and StockPick.app

Disclosure: I/we person a beneficial agelong position successful nan shares of SOBR either done banal ownership, options, aliases different derivatives. I wrote this article myself, and it expresses my ain opinions. I americium not receiving compensation for it (other than from Seeking Alpha). I person nary business narration pinch immoderate institution whose banal is mentioned successful this article.

Editor: Naga



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