Company: MFON
Filing Date: 2025-04-07
Form Type: 10-K
Source: 0001641172-25-002942
Chunk: 466

Company: MOBIVITY HOLDINGS CORP.
Filing Date: 2025-04-07
Form: 10-K
Item: Item 1C
Chunk 466
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 on the unpaid Advances will accrue from the date of each Advance at a rate equal to fifteen percent
(15%) per annum. Interest will be calculated on the basis of 365 days in a year.” The amendment raised the maximum amount of the
Credit Facility to $6,000,000. In addition, the interest which is accrued monthly between July 1, 2022, and December 31, 2022, was settled
into equity. Common Stock will be issued at the end of each month at a rate of $1.08 per share of common stock in the amount of the interest
accrued for each month.

On
January 31, 2023, the Company then entered into Amendment No. 1 (the “Amendment”), which amends our existing Credit Facility
Agreement1, dated as of November 11, 2022, between the Company and Thomas B. Akin, and any convertible notes issued thereunder.
The Amendment amends the existing Credit Facility Agreement to extend the maturity of the agreement and related convertible notes thereunder
until December 1, 2025. Principal payments have been deferred to a period beginning on January 1, 2024 and ending December 1, 2025, and
further provides that any accrued interest on unpaid advances under the agreement is to be paid quarterly in shares of our common stock,
at a price per share equal to the volume-weighted average price of our common stock quoted on the Over-The Counter Venture Market operated
by OTC Markets Group Inc. (“OTCQB®”) over the ninety (90) trading days immediately preceding such date. The Amendment
provides for corresponding amendments to the form of convertible notes to be issued under the Credit Agreement in the future and any
outstanding convertible notes issued under the existing Credit Facility Agreement. The Amendment was considered a debt modification as
the cash flows under the amended terms do not differ by at least 10% from the cash flows under the original agreement.

On
January 31, 2024 amended terms were agreed upon and the Company then entered into Amendment No. 2 (the “Amendment”) signed
on May 3,2024, which amends the terms of the Credit Facility Agreement, between the Company and Thomas B. Akin, and any convertible notes
issued thereunder. The Amendment amends the existing Credit Facility Agreement to extend the maturity of the agreement and related convertible
notes thereunder until June 30, 202