Company: MFON
Filing Date: 2025-04-07
Form Type: 10-K
Source: 0001641172-25-002942
Chunk: 298

Company: MOBIVITY HOLDINGS CORP.
Filing Date: 2025-04-07
Form: 10-K
Item: Item 1A
Chunk 298
---
 expense 
    $(2,134,000) 
    $(2,533,000)
  
    State taxes, net of federal benefit 
     736,000  
     2,014,000 
  
    Expiration of NOL carryforwards 
     261,000  
     44,000 
  
    Other 
     4,000  
     2,253,000 
  
    Change in valuation allowance 
     1,133,000  
     (1,778,000)
  
    Total 
    $—  
    $— 

The
Company has determined that during 2010 it experienced a “change of ownership” as defined by Section 382 of the Internal
Revenue Code. As such, utilization of net operating loss carryforwards and credits generated before the 2010 change in ownership will
be limited to approximately $207,000 per year until such carryforwards are fully utilized. The pre change net operating loss carryforward
was approximately $6,000,000. Since 2010 the Company has not conducted a study to assess whether a change of control has occurred or
whether there have been multiple changes of control since inception due to the significant complexity and cost associated with such a
study. If the Company has experienced a change of control, as defined by Section 382, at any time since 2010, utilization of the net
operating loss carryforwards tax credit carryforwards would be subject to further annual limitation under Section 382. Any limitation
may result in expiration of a portion of the net operating loss carryforwards before utilization.

The
Company files income tax returns in the U.S. federal jurisdiction, Arizona, and California. Because the Company is carrying forward federal
and state net operating losses from 2006, the Company is subject to U.S. federal and state income tax examinations by tax authorities
for all years since 2006. The Company does not have a liability for any uncertain tax positions. As of December 31, 2024, no accrued
interest or penalties are recorded in the financial statements.

    -43-

12.
Fair Value Measurements of Financial Instruments

The
following table summarizes our financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2024:

 Schedule
of Fair Value Measurements Recurring and Nonrecurring

    Description 
    Level 1  
    Level 2  
    Level 3