Company: MFON
Filing Date: 2025-04-07
Form Type: 10-K
Source: 0001641172-25-002942
Chunk: 1015

Company: MOBIVITY HOLDINGS CORP.
Filing Date: 2025-04-07
Form: 10-K
Item: Item 8
Chunk 1015
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 an app, or a fee for achieving a certain action in a digital app, or acquiring a loyalty member. The Company derives
revenue primarily in North America and manages the business activities on a consolidated basis. All revenue is derived using our Recurrency
platform which is designed to leverage point-of-sale data, along with cognitive computing, to increase visits, spend, and loyalty
from consumers.

The
following table shows net sales by operating segment:

 Schedule
of Net Sales by Operating Segment

    Customer Acquisition and Engagement segment 
    Revenue
  
    Revenues 
    $1,143,535 
  
    Less: 

    Customer Acquisition Costs 
     512,901 
  
    Dues and Subscriptions 
     16,278 
  
    Legal and Accounting and Professional Fees 
     409,246 
  
    Travel Expense 
     79,003 
  
    Administrative Expenses 
     287,611 
  
    Advertising Expense 
     223,129 
  
    Payroll and Related Expense 
     6,741,575 
  
    Interest Expense 
     1,943,412 
  
    Other Expenses (1) 
     106,281 
  
    Customer Acquisition and Engagement segment Net Income 
    $(9,175,901)

(1)Other Expense includes
loss on settlement of debt and foreign currency gain(loss)

    -47-

17.
Subsequent Events

Convertible
Notes

Convertible
Notes

On
February 28, 2025 the Company issued one Convertible Notes to Thomas B. Akin for a total amount of $250,000.

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 $