Company: MFON
Filing Date: 2025-04-07
Form Type: 10-K
Source: 0001641172-25-002942
Chunk: 520

Company: MOBIVITY HOLDINGS CORP.
Filing Date: 2025-04-07
Form: 10-K
Item: Item 2
Chunk 520
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We
have a current lease that was entered into starting in February of 2021 for 8,898 square feet of office space located at 3133 W. Frye
Road, Suite 215, Chandler, Arizona. Monthly rental payments, excluding common area maintenance charges, will be $25,953 to $28,733. The
first twelve months of the lease included a 50% abatement period. The office space in Chandler has been a perfect size for a growing
company, with an open concept to encourage collaboration.

The Company entered in to a sublease to lease
our existing office space at located at 3133 W. Frye Road, Suite 215, Chandler, Arizona, on March 1, 2024 for its office
facilities in Chandler, AZ through February 28, 2025. Monthly rental payments including rental of office furniture and excluding
taxes, are $24,470.

Item
3. Legal Proceedings.

As
of the date of this report, the company has two pending legal proceeding related to the Telephone Consumer Protection Act, 47 U.S.C
§ 227 et al. (“TCPA”). The first proceeding is a putative class action complaint alleging that Defendant initiated
telephone solicitations through text messages to Plaintiff and members of a putative class in violation of the TCPA. The defense of
the matter was tendered to the Company by its client, and our firm took over the defense of the matter. We have not yet responded to
the complaint and no discovery has been conducted so we are unable to determine at this time whether it may result in a
“material” exposure as defined. The Company intends to seek an individual settlement of this matter and if one cannot be
reached it intends to vigorously defend the matter for its client.

The
second proceeding is a putative class action complaint alleging that Defendant initiated telephone solicitations through text messages
in violation of the Telephone Consumer Protection Act, 47 U.S.C § 227 et al. (“TCPA”). The defense of the matter was
tendered to the Company by its client, and our firm is managing the defense of the matter. We have not yet responded to the complaint
and no discovery has been conducted so we are unable to determine at this time whether it may result in a “material” exposure
as defined. The Company intends to seek an individual settlement of this matter and if one cannot be reached it intends to vigorously
defend the matter for