Company: MFON
Filing Date: 2025-04-07
Form Type: 10-K
Source: 0001641172-25-002942
Chunk: 734

Company: MOBIVITY HOLDINGS CORP.
Filing Date: 2025-04-07
Form: 10-K
Item: Item 4
Chunk 734
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 recorded amortization expense
for software development costs of $4,506 and $98,828, respectively which is included in depreciation and amortization in the consolidated
statement of operations.

During
the years ended December 31, 2024 and 2023, we recorded impairment charges of $0 and $0, respectively related to our software development
costs.

    -31-

7.
Operating Lease Assets

Adoption
of Accounting Standards Codification (“ASC”) Topic 842, “Leases.” The Company adopted
Topic 842 on January 1, 2019, using the modified retrospective method and the optional transition method to record the adoption impact
through a cumulative adjustment to equity. Results for reporting periods beginning after January 1, 2019, are presented under Topic 842,
while prior periods are not adjusted and continue to be reported under the accounting standards in effect for those periods.

The
following are additional details related to leases recorded on our balance sheet as of December 31, 2024:

Schedule
of Additional Details Related to Leases 

    Leases 
    Classification 
    Balance at December 31, 2024 
  
    Assets 

    Current 

    Operating lease assets 
    Operating lease assets 
    $— 
  
    Noncurrent 

    Operating lease assets 
    Noncurrent operating lease assets 
     541,618 
  
    Total lease assets 
      
    $541,618 

    Liabilities 

    Current 

    Operating lease liabilities 
    Operating lease liabilities 
    $302,178 
  
    Noncurrent 

    Operating lease liabilities 
    Noncurrent operating lease liabilities 
    $358,674 
  
    Total lease liabilities 
      
    $660,852 

During
the year ended December 31, 2024, we recorded amortization expense of $49,690 and during the year ended December 31, 2023, we recorded
a credit to amortization expense of $358,240 related to the accretion of the lease liability, which is included in depreciation and amortization
in the consolidated statement of operations.

Rent
expense was $58,769 and $355,343 for the years ended December 31, 2024 and 2023, respectively.

We
entered into our current lease starting in February of 2021 for 8,898 square feet of office space located at 3133 W. Frye Road, Suite
215