Company: MFON
Filing Date: 2025-06-06
Form Type: 10-Q
Source: 0001641172-25-014006
Chunk: 28

Company: MOBIVITY HOLDINGS CORP.
Filing Date: 2025-06-06
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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 a single installment at maturity three
years from the date the Convertible Note was issued.

The Convertible Note and all accrued interest
thereon are convertible into shares of our common stock, from time to time, at the option of the holder thereof, at a conversion
price per share equal to the larger of either $0.50
or of the volume-weighted average price of our common stock quoted on the OTCQB ® Venture Market operated by OTC Markets Group
Inc. over the thirty (30) trading days immediately preceding such date (the “Conversion Price”) Simple interest on the
unpaid principal balance of this Note will accrue at the rate of 8.0% per annum. Accrual of interest will commence on the date
of this Note, will continue until this Note is fully paid, and will be payable in a single installment at maturity three
years from the date the Convertible Note was issued.

During the three months ended March 31, 2025 the company
recorded accrued interest of $4,690 in connection with convertible notes and $2,959 in amortized debt discount.

As of March 31, 2025 the Convertible Notes had
a principal balance of $250,000
with a debt discount of $19,247
for a net principal balance of $230,753
and accrued interest of $26,381.

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