Company: MFON
Filing Date: 2025-06-06
Form Type: 10-Q
Source: 0001641172-25-014006
Chunk: 16

Company: MOBIVITY HOLDINGS CORP.
Filing Date: 2025-06-06
Form: 10-Q
Item: Part I, Item 1
Chunk 16
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 919,477 
  
    Gross Profit 
     142,389  
     382,194 

    Operating Expenses 

    Bad Debt Expense 
     (28,670) 
     49,109 
  
    General and administrative 
     35,152  
     306,664 
  
    Sales and marketing 
     12,728  
     81,617 
  
    Engineering, research and development 
     11,424  
     79,283 
  
    Total operating expenses 
     30,634  
     516,673 

    Income (Loss) from Operations 
     111,755  
     (134,479)

    Net Income (Loss) from Discontinued Operations 
    $111,755  
    $(134,479)

The Company’s execution of the Asset Purchase
Agreement has met the criteria to be reported as discontinued operations. In accordance with GAAP, assets and liabilities of discontinued
operations are presented separately in the Consolidated Balance Sheets, and results of discontinued operations are reported as a separate
component of Consolidated net loss in the Consolidated Statements of Loss, for all periods presented, resulting in changes to the presentation
of certain prior period amounts. Cash flows from discontinued operations are reported separately in the Consolidated Statements of Cash
Flows. The assets and liabilities of discontinued operations are presented separately in the Consolidated Balance Sheets for all periods
presented.

4. Going Concern

The Company had $291,732 of cash as of March 31, 2025.
The Company had a net loss of $2.6 million for the three months ended March 31, 2025, and we used $2,043,187 of cash in our operating
activities during that time. In the three months ended March 31, 2024 we had a net loss of $2.3 million and used $2,170,290 of cash in
our operating expenses. The Company raised 2.3 million in cash from Convertible Notes issued during 2025. The Company raised $6.9 million
in cash Convertible Notes issued during 2024.

Our additional cash from our convertible notes along
with our expected cash flow from operations, may not be sufficient to fund our 12-month plan of operations, and there can be no assurance
that we will not require significant additional capital within 12 months.

As shown in the accompanying financial statements,
the Company