Company: MFON
Filing Date: 2025-06-06
Form Type: 10-Q
Source: 0001641172-25-014006
Chunk: 91

Company: MOBIVITY HOLDINGS CORP.
Filing Date: 2025-06-06
Form: 10-Q
Item: Part I, Item 8
Chunk 91
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 beyond. We will require additional capital and will seek to obtain additional
working capital through the sale of our securities and, if available, bank lines of credit. There can be no assurance we will be able
to obtain access to capital as and when needed, or that the terms of any available financing will be commercially reasonable.

The Company entered in to a sublease on March 1, 2024
for its office facilities in Chandler, AZ through February 28, 2025. Monthly rental payments including rental of office furniture and
excluding taxes, are $24,470. The Company has transition to a 100% remote work force and this has resulted in a decrease in monthly rental
expense.

27

Cash Flows

    Three Months Ended 

    March 31, 

    2025  
    2024 
  
    Net cash provided by (used in): 

    Operating activities 
    $(2,043,187) 
    $(2,170,290)
  
    Investing activities 
     —  
     — 
  
    Financing activities 
     1,075,000  
     1,941,342 
  
    Effect of foreign currency translation on cash flow 
     (1,248) 
     (665)
  
    Net change in cash 
    $(969,435) 
    $(229,613)

Operating Activities

We used cash and restricted in operating
activities totaling $2,043,187 during the three months ended March 31, 2025 and used cash and restricted cash in operating
activities totaling $2,170,290 during the three months ended March 31, 2024. Key drivers of the cash used in operating
activities are the net loss of $2,701,446, a net loss from discontinued operations of $111,755, changes to accounts receivable of
$47,273, accrued interest of $458,173, stock-based compensation of $216,327, accounts payable of $142,014, and amortization of
debt discount of $171,202.

Investing Activities

Investing activities during the three months ended
March 31, 2025 were $0 compared to$0 in the three months ended March 31, 2024 

Financing Activities

Financing activities during the three months
ended March 31, 2025 consisted of $1,825,000 of proceeds from related party convertible notes and $425,