Company: MFON
Filing Date: 2025-04-07
Form Type: 10-K
Source: 0001641172-25-002942
Chunk: 223

Company: MOBIVITY HOLDINGS CORP.
Filing Date: 2025-04-07
Form: 10-K
Item: Item 1
Chunk 223
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”). Each warrant will be exercisable over a three-year period
at an exercise price equal to the VWAP.

Under
the original terms of the Credit Agreement, the Company was to begin repaying the principal amount, plus accrued interest, in 24 equal
monthly installments commencing on June 30, 2022, and ending on June 30, 2024. On November 11, 2022, an amendment to the Credit Agreement
was signed. The amendment updated the payment terms to the following: “Without limiting the foregoing Section 2.3(a), Borrower
shall repay the principal amount of all Advances, plus accrued interest thereon, in 24 equal monthly installments commencing on January
31, 2023 and continuing thereafter on the last day of each month (or, if such last day is not a Business Day, on the Business Day immediately
preceding such last day. Interest 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, will be
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
Agreement[1], 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. (“OT