Company: MFON
Filing Date: 2025-04-07
Form Type: 10-K
Source: 0001641172-25-002942
Chunk: 986

Company: MOBIVITY HOLDINGS CORP.
Filing Date: 2025-04-07
Form: 10-K
Item: Item 8
Chunk 986
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 monthly principal payment amount of $3,000 CAD increased to $3,500 CAD beginning on November
1, 2019, and increased to $4,000 CAD on August 1, 2021, $4,500 CAD on August 1, 2022 and $2,215 CAD for the remaining term of the agreement.

During
the twelve months ended December 31, 2024 $7,035USD in principle was paid toward the ACOA loan. The final payment was made on February
28, 2024 and the loan is paid in full.

    -33-

Related
Party Notes

Secured
Promissory Notes

On
June 30, 2021, we entered into a Credit Facility Agreement (the “Credit Agreement”) with Thomas Akin, one of the Company’s
directors (the “Lender”). The Credit Agreement was amended on November 11, 2022. The Company can borrow up to $6,000,000
under the Credit Agreement (“the “Credit Facility”). As of December 31, 2021, the Company had drawn a total of $3,478,125
including cash drawn in the amount of $3,206,250 and $271,875 of principal and accrued interest under the 2020 UP Note that was rolled
into the Credit Facility and had paid a total of $200,000 toward the principal balance of the loan,

The
Credit Facility is secured by all of our tangible and intangible assets including intellectual property. This loan bears interest on
the unpaid balance at the rate of fifteen percent (15%) per annum. The Company may prepay this loan without notice, penalty, or charge.
In consideration of the Lender’s agreement to provide the Credit Facility, the Company issued warrants to purchase shares of its
common stock at an exercise price of $1.67 per share in connection with the issuance of funds under the Credit Agreement. The warrants
are exercisable for a period commencing upon issuance of the corresponding notes and ending 36 months after issuance of the financing.
In addition, the Company has agreed to issue to the Lender additional warrants entitling the Lender to purchase a number of shares of
the Company’s common stock equal to twenty percent (20%) of the amount of the advances made divided by the volume-weighted average
price over the 30 trading days preceding the advance (the “VWAP”). Each warrant will be exercisable over a three-year