Company: MFON
Filing Date: 2025-06-06
Form Type: 10-Q
Source: 0001641172-25-014006
Chunk: 81

Company: MOBIVITY HOLDINGS CORP.
Filing Date: 2025-06-06
Form: 10-Q
Item: Part I, Item 8
Chunk 81
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 2025.

Operating Lease

As of March 31, 2025, we have an operating lease asset
balance for this lease of $481,406 and an operating lease liability balance for this lease of $587,622 recorded in accordance with ASC
842.

    20

11. Related Party Transactions

Unsecured Promissory Note

On July 1, 2021, we entered into UP Notes in the aggregate
principal amount of $271,875 with Talkot Fund, LP and investor in the Company. Each UP Note bears interest on the unpaid balance at the
rate of fifteen percent (15%) per annum and the principal and accrued interest are due and payable no later than December 31, 2023.

During the three months ended March 31, 2025, a total
of $20,844 of accrued interest from equity payable was converted into 86,109 shares of common stock. As of March 31, 2025, the Company
had an outstanding principal balance of $271,875, and accrued interest of $$10,195 that was recorded to Equity Payable.

Secured Promissory Notes

On June 30, 2021, we entered into a Credit Facility
Agreement with Thomas Akin, one of the Company’s directors (the “Lender”). The Credit Facility Agreement was amended
on November 11, 2022 to allow the Company to borrow up to $6,000,000. The Credit Facility Agreement was amended again on January 31, 2023
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.

During the three months ended March 31, 2025, a total
of $450,272 of accrued interest from equity payable was converted into 1,860,123 shares of common stock. As of December 31, 2024, the
Company had a principal total of $5,873,125, a debt discount balance of $160,868 for a net principal balance of $5,712,257 and accrued
interest of $220,242 that was recorded to Equity Payable.

Related Party Convertible Notes

During the first quarter of 2025 the Company issued
5 Convertible Notes payable to related parties for $250,000. As an inducement we issued