Company: MFON
Filing Date: 2025-04-07
Form Type: 10-K
Source: 0001641172-25-002942
Chunk: 494

Company: MOBIVITY HOLDINGS CORP.
Filing Date: 2025-04-07
Form: 10-K
Item: Item 1C
Chunk 494
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79,003 
  
    Administrative Expenses 
     287,611 
  
    Advertising Expense 
     223,129 
  
    Payroll and Related Expense 
     6,741,575 
  
    Interest Expense 
     1,943,412 
  
    Other Expenses (1) 
     106,281 
  
    Customer Acquisition and Engagement segment Net Income 
    $(9,175,901)

(1)Other Expense includes
loss on settlement of debt and foreign currency gain(loss)

    -47-

17.
Subsequent Events

Convertible
Notes

Convertible
Notes

On
February 28, 2025 the Company issued one Convertible Notes to Thomas B. Akin for a total amount of $250,000.

Senior
Secured Convertible Notes

On
March 17, 2025, Mobivity Holdings Corp. (the “Company”) entered into a convertible promissory note purchase agreement (the
“Agreement”) with four accredited investors, including Thomas B. Akin, a member of the Company’s Board of Directors
(“Board”), and Bruce E. Terker, an owner of 5% or more of the outstanding shares of the Company’s common stock, $0.001
par value (“Common Stock”), who each participated on the same terms as the other accredited investors (collectively, the
“Investors”). Pursuant to the Agreement, the Company received $2.0 million in proceeds and issued unsecured convertible promissory
notes (each a “Convertible Note” and collectively, the “Convertible Notes”) in the aggregate principal amount
of $2.0 million. The Convertible Notes were issued as part of a convertible note offering authorized by the Company’s board of
directors (the “Offering”) to raise up to $3.0 million from the issuance of Convertible Notes. Messrs. Akin and Terker invested
$75,000 and $1.5 million, respectively, in the Offering. The Company will use the proceeds from the sale of the Convertible Notes to
continue to ramp up growth of Connected Rewards and for working capital for general corporate purposes.

All
Convertible Notes accrue 8% interest and are due three years from issuance.

Shares
Issued

On
January 25, 2025 a total of 1,860,123 shares of common stock were granted from equity payable to Thomas Akin as settlement of $450,272
of interest payable.

On