Company: MFON
Filing Date: 2025-04-07
Form Type: 10-K
Source: 0001641172-25-002942
Chunk: 850

Company: MOBIVITY HOLDINGS CORP.
Filing Date: 2025-04-07
Form: 10-K
Item: Item 6
Chunk 850
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 issuance of the financing.
In addition, the Company has agreed to issue to the Lender additional warrants entitling the Lender to purchase a number of shares of
the Company’s common stock equal to twenty percent (20%) of the amount of the advances made divided by the volume-weighted average
price over the 30 trading days preceding the advance (the “VWAP”). Each warrant will be exercisable over a three-year period
at an exercise price equal to the VWAP.

Under
the original terms of the Credit Agreement, the Company was to begin repaying the principal amount, plus accrued interest, in 24 equal monthly installments commencing on June 30, 2022, and ending on June 30, 2024. On November 11, 2022, an amendment to the Credit Agreement
was signed. The amendment updated the payment terms to the following: “Without limiting the foregoing Section 2.3(a), Borrower
shall repay the principal amount of all Advances, plus accrued interest thereon, in 24 equal monthly installments commencing on January
31, 2023 and continuing thereafter on the last day of each month (or, if such last day is not a Business Day, on the Business Day immediately
preceding such last day. Interest on the unpaid Advances will accrue from the date of each Advance at a rate equal to fifteen percent
(15%) per annum. Interest will be calculated on the basis of 365 days in a year.” The amendment raised the maximum amount of the
Credit Facility to $6,000,000. In addition, the interest which is accrued monthly between July 1, 2022, and December 31, 2022, will be
settled into equity. Common Stock will be issued at the end of each month at a rate of $1.08 per share of common stock in the amount
of the interest accrued for each month.

On
January 31, 2023, the Company then entered into Amendment No. 1 (the “Amendment”), which amends our existing Credit
Facility Agreement[1], dated as of November 11, 2022, between the Company and Thomas B. Akin, and any convertible notes
issued thereunder. The Amendment amends the existing Credit Facility Agreement to extend the maturity of the agreement and related
convertible notes thereunder until December 1, 2025. Principal payments have been deferred to a period beginning on January