Company: MFON
Filing Date: 2025-06-06
Form Type: 10-Q
Source: 0001641172-25-014006
Chunk: 102

Company: MOBIVITY HOLDINGS CORP.
Filing Date: 2025-06-06
Form: 10-Q
Item: Part I, Item 2
Chunk 102
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5 and 2024, respectively.

Liquidity and Capital Resources

As of March 31, 2025, we had current assets of $892,548,
including $291,732 in cash, and current liabilities of $7,429,384, resulting in a working capital deficit of $6,509,660.

We believe as of the date of this report, we do not
have the working capital on hand, along with our expected cash flow from operations and budget reductions, to sufficiently fund our current
level of operations through the end of the next 12 months or beyond. We will require additional capital and will seek to obtain additional
working capital through the sale of our securities and, if available, bank lines of credit. There can be no assurance we will be able
to obtain access to capital as and when needed, or that the terms of any available financing will be commercially reasonable.

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. The Company has transition to a 100% remote work force and this has resulted in a decrease in monthly rental
expense.

27

Cash Flows

    Three Months Ended 

    March 31, 

    2025  
    2024 
  
    Net cash provided by (used in): 

    Operating activities 
    $(2,043,187) 
    $(2,170,290)
  
    Investing activities 
     —  
     — 
  
    Financing activities 
     1,075,000  
     1,941,342 
  
    Effect of foreign currency translation on cash flow 
     (1,248) 
     (665)
  
    Net change in cash 
    $(969,435) 
    $(229,613)

Operating Activities

We used cash and restricted in operating
activities totaling $2,043,187 during the three months ended March 31, 2025 and used cash and restricted cash in operating
activities totaling $2,170,290 during the three months ended March 31, 2024. Key drivers of the cash used in operating
activities are the net loss of $2,701,446, a net loss from discontinued operations of $111,755, changes to accounts receivable of
$47,