Company: MFON
Filing Date: 2025-04-07
Form Type: 10-K
Source: 0001641172-25-002942
Chunk: 857

Company: MOBIVITY HOLDINGS CORP.
Filing Date: 2025-04-07
Form: 10-K
Item: Item 6
Chunk 857
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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
January 25, 2025 a total of 86,109 shares of common stock were granted from equity payable to Talkot Fund LP as settlement of $20,844
of interest payable.

SMS
Factory Sale of Certain Contracts Progress

As
of March 26, 2025 the Company has transitions 80.4% of the daily operation of the purchased customer contracts to SMS Factory. The Company
is currently still in the process of working with the remaining customer until the can be successfully transitioned.

Sublease
Amendment

The
Company entered in to a