Company: MFON
Filing Date: 2025-06-06
Form Type: 10-Q
Source: 0001641172-25-014006
Chunk: 18

Company: MOBIVITY HOLDINGS CORP.
Filing Date: 2025-06-06
Form: 10-Q
Item: Part I, Item 1
Chunk 18
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 as of March 31, 2025 was as follows:

Schedule of Finite Lived Intangible Assets Future Amortization Expense 

    Year ending December 31, 
    Amount 
  
    2025 
    $5,434 
  
    2026 
    $7,246 
  
    2027 
    $7,246 
  
    2028 
    $7,246 
  
    2029 
    $7,246 
  
    Thereafter 
    $19,460 
  
    Total 
    $53,878 

    10

6. Operating Lease Assets

The Company entered into a lease agreement on February
1, 2021, for 8,898 square feet, for its office facilities in Chandler, AZ through January 2027. Monthly rental payments, excluding common
area maintenance charges, are $25,953 to $28,733. The first twelve months of the lease included a 50% abatement period and a deposit of
$110,000 was required. The lessor contributed $110,000 towards the purchase of office furniture as part of the lease agreement. As of
March 31, 2025, we have an operating lease asset balance of $481,406 and an operating lease liability balance of $587,622 recorded in
accordance with ASC 842, Leases (ASC “842”).

The Company entered in to a sublease 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. On February 28, 2025 an amendment to the sublease was signed. The amendment extended the term of the sublease until
January 25, 2027 in the amount of $22,245 monthly excluding March 2025 and March 2026, which are billed at $0.

The following are additional details related to leases
recorded on our balance sheet as of March 31, 2025:

Schedule
of Additional Details Related to Leases 

    Leases 
    Classification 
    Balance at
                                                                                March 31, 2025 
  
    Assets 

    Current 

    Operating lease assets 
    Operating lease assets 
    $— 
  
    Noncurrent 

    Operating lease assets 
    Noncurrent operating lease assets 
    $481,406