Company: MFON
Filing Date: 2025-09-09
Form Type: PRER14A
Source: 0001140361-25-034415
Chunk: 40

Company: MOBIVITY HOLDINGS CORP.
Filing Date: 2025-09-09
Form: PRER14A
Chunk 40
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 the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due.

Future Cost and Time Savings . By eliminating costs associated with our public reporting and other related obligations, the Company ultimately expects to realize recurring annual cost savings of approximately $1,000,000 which would include reduced costs of an annual financial statement audit by a public accounting firm, given the reduced scope as a result of no longer being subject to SEC reporting requirements. In addition, the Special Committee noted that the Company would eliminate the substantial time and effort currently spent by the Company’s management and employees to prepare and review the reports it files with the SEC under the Exchange Act and the Sarbanes-Oxley Act, and after the Reverse Stock Split, management and our other employees will be able to reallocate this time and effort to other areas of our businesses and operations.

The Special Committee determined that certain additional factors supported the fairness of the Reverse Stock Split to those unaffiliated Cashed Out Stockholders, including the fact that they will not pay the brokerage commissions they would have paid if they attempted to sell their shares in the open market. The proposed transaction price of $0.29 per pre-split share of our common stock compares favorably to the average closing price of our stock for the previous 30, 60, 90 and 180 trading days prior to July 30, 2025, the day prior to the Special Committee’s approval of the Reverse Stock Split, and for the previous 30, 60, 90 and 180 trading days prior to the Record Date (as can be shown in the tables below).

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Furthermore, the Special Committee considered that, with extremely limited liquidity in the public market for our common stock, only a small portion of our stockholders would have been able to attain the historical closing prices before the stock price decreased measurably. The proposed transaction price of $0.29 per pre-split share does not include any discount for the lack of liquidity of our common stock or for the minority status of the shares of our common stock owned by unaffiliated stockholders.

The Special Committee further considered the very limited sources of funding for the proposed Reverse Stock Split and how the Company’s cash on hand would not be sufficient on its own to fund the Reverse Stock Split. The Special Committee considered how the Convertible Notes (as defined on page 35) offering with Messrs. Akin and Terker was the only available source of funds