Company: MFON
Filing Date: 2025-04-07
Form Type: 10-K
Source: 0001641172-25-002942
Chunk: 743

Company: MOBIVITY HOLDINGS CORP.
Filing Date: 2025-04-07
Form: 10-K
Item: Item 4
Chunk 743
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 connection with the convertible notes.

As
of December 31, 2024 the Convertible Notes issued to related parties had a principal balance of $250,000
with a debt discount balance of $22,206 for a net principal balance of $227,794 and accrued interest balance of $21,691.
A debt discount expense of $39,627
was recorded in connection to the warrants issued.

Interest
Expense

The
following table summarizes interest expense for the years ended December 31, 2024 and 2023:

 Summary
of Interest Expense

    2024  
    2023 

    December 31, 

    2024  
    2023 
  
    Interest expense 
    $1,943,412  
    $1,027,682 
  
    Total interest expense 
    $1,943,412  
    $1,027,682 

9.
Common Stock and Equity Payable

Common
Stock and Equity Payable

2023

During
the year ended December 31, 2023, the Company issued 5,548,463 shares for warrants converted, and 442,660 shares for settlement of interest
payable. In addition 545,079 where issued at par value, due to expense recognition in previous years, for RSU issued on termination of
a directors service.

As
of December 31, 2023, we had an equity payable balance of $989,947.
These share consist of $889,085
interest payable to be settled into 1,007,631
shares and $100,862
in RSU’s payable of 93,390
shares.

2024

During
the twelve months ended December 31, 2024 the Company issued 2,516,394
shares for $1,355,081
from equity payable and recorded a loss on settlement
of debt for $106,252.
A total of $937,113
of interest was accrued and settled to equity payable.

As
of the twelve months ended December 31, 2024 we had an equity payable balance of $571,979.
These share consist of $471,117 interest
payable to be settled into 1,946,232
shares
and $100,862
in
RSU’s payable of 93,390
shares.

    -36-

The
following table summarizes stock option activity under our stock-based plans as