Company: MFON
Filing Date: 2025-06-06
Form Type: 10-Q
Source: 0001641172-25-014006
Chunk: 73

Company: MOBIVITY HOLDINGS CORP.
Filing Date: 2025-06-06
Form: 10-Q
Item: Part I, Item 8
Chunk 73
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 will accrue at the rate of 8.0% per annum. Accrual of interest will commence on the date
of this Note, will continue until this Note is fully paid, and will be payable in a single installment at maturity three
years from the date the Convertible Note was issued.

During the three months ended March 31, 2025 the company
recorded accrued interest of $4,690 in connection with convertible notes and $2,959 in amortized debt discount.

As of March 31, 2025 the Convertible Notes had
a principal balance of $250,000
with a debt discount of $19,247
for a net principal balance of $230,753
and accrued interest of $26,381.

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 $2.0
million. The Convertible Notes were issued as part of a convertible note offering authorized by the Company’s board of directors
(the “Offering”) to raise up to $3.0
million from the issuance of Convertible Notes. The Company will use the proceeds from the sale of the Convertible Notes to continue
to ramp up growth of Connected Rewards and for working capital for general corporate purposes.

    15

During
the first quarter of 2025 the Company issued 10 Convertible Notes payable for $425,000. Simple interest on the unpaid principal balance
of the Convertible Note will accrue at the rate of 15% per annum. and automatically convert into the same equity securities issued for
cash in the Qualified Financing, or at the option of the Investors, into the same equity securities issued for cash in a Corporate Transaction,