Company: MFON
Filing Date: 2025-04-07
Form Type: 10-K
Source: 0001641172-25-002942
Chunk: 296

Company: MOBIVITY HOLDINGS CORP.
Filing Date: 2025-04-07
Form: 10-K
Item: Item 1A
Chunk 296
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139% and an option fair value of $0.1410.

11.
Income Taxes

On
March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act) was enacted and signed into law in response to
the market volatility and instability resulting from the COVID-19 pandemic. It includes a significant number of tax provisions and lifts
certain deduction limitations originally imposed by the Tax Cuts and Jobs Act of 2017 (the 2017 Act). The changes are mainly related
to: (1) the business interest expense disallowance rules for 2019 and 2020; (2) net operating loss rules; (3) charitable contribution
limitations; (4) employee retention credit; and (5) the realization of corporate alternative minimum tax credits. The Company does not
anticipate the application of the CARES Act provisions to materially impact the overall Consolidated Financial Statements.

For
the years ended December 31, 2024 and 2023 the provisions for income taxes were as follows:

 Schedule
of Components of Income Tax Expense Benefit

     2024  
     2023 
  
    Federal – current 
    $—  
    $— 
  
    State – current 
     —  
     — 
  
    Foreign – current 
     —  
     — 
  
    Total 
    $—  
    $— 

Under
ASC 740, deferred income tax assets and liabilities reflect the net tax effects of temporary differences between the carrying amounts
of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes.

    -42-

Significant
components of our net deferred tax assets and liabilities as of December 31, 2024 and 2023 are as follows:

 Schedule
of Deferred Tax Assets and Liabilities

    2024  
    2023 
  
    Deferred tax assets (liabilities): 

    Net operating loss carryforwards 
    $18,867,000  
    $14,597,000 
  
    Stock based compensation 
     5,717,000  
     5,747,000 
  
    Accrued compensation 
     57,000  
     235,000 
  
    Depreciation and amortization 
     1,683,000  
     2,675,000 
  
    Other 
     —