Business Context and Reporting Period
This Form 8-K was filed by Imagine Media, Ltd. (not SOBR Safe, Inc.) on March 9, 2010, reporting an event that occurred on February 10, 2010. The registrant is a Delaware corporation headquartered in Denver, Colorado.
Key Financial Metrics
This filing does not report revenue, profit, cash flow, margins, debt, or liquidity metrics. The only financial data disclosed relates to a specific equity transaction:
- Shares Issued: 30,000 shares of common stock.
- Valuation: $1.00 per share.
- Total Value: $30,000.
- Consideration: Services provided by the Company's directors.
- Fees/Commissions: None paid.
Material Changes
The filing discloses an unregistered sale of equity securities under Item 3.02. The Company issued 30,000 restricted shares to three accredited investors (the directors) in exchange for services. The transaction relied on the Section 4(2) exemption from registration under the Securities Act of 1933.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future operations, or discussion of general business risks. The document notes that the securities were issued for investment purposes and are subject to transfer restrictions. The Company confirmed that investors received full disclosure of business aspects and understood the risks associated with the investment.
Investor Verification Checklist
- Verify the correct registrant name is Imagine Media, Ltd., as the input metadata incorrectly listed "SOBR Safe, Inc."
- Confirm the issuance of 30,000 shares to directors was properly exempt from registration under Section 4(2).
- Review the Company's most recent 10-K or 10-Q for actual financial performance, as this 8-K contains no operational financial data.
- Check for any subsequent filings regarding the vesting or transfer restrictions of these specific shares.