Company: MFON
Filing Date: 2025-04-07
Form Type: 10-K
Source: 0001641172-25-002942
Chunk: 845

Company: MOBIVITY HOLDINGS CORP.
Filing Date: 2025-04-07
Form: 10-K
Item: Item 6
Chunk 845
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; (4) employee retention credit; and (5) the realization of corporate alternative minimum tax credits. The Company does not
anticipate the application of the CARES Act provisions to materially impact the overall Consolidated Financial Statements.

For
the years ended December 31, 2024 and 2023 the provisions for income taxes were as follows:

 Schedule
of Components of Income Tax Expense Benefit

     2024  
     2023 
  
    Federal – current 
    $—  
    $— 
  
    State – current 
     —  
     — 
  
    Foreign – current 
     —  
     — 
  
    Total 
    $—  
    $— 

Under
ASC 740, deferred income tax assets and liabilities reflect the net tax effects of temporary differences between the carrying amounts
of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes.

    -42-

Significant
components of our net deferred tax assets and liabilities as of December 31, 2024 and 2023 are as follows:

 Schedule
of Deferred Tax Assets and Liabilities

    2024  
    2023 
  
    Deferred tax assets (liabilities): 

    Net operating loss carryforwards 
    $18,867,000  
    $14,597,000 
  
    Stock based compensation 
     5,717,000  
     5,747,000 
  
    Accrued compensation 
     57,000  
     235,000 
  
    Depreciation and amortization 
     1,683,000  
     2,675,000 
  
    Other 
     —  
     — 
  
    Total deferred tax assets 
     26,324,000  
     23,254,000 
  
    Valuation allowance for net deferred tax assets 
     (26,324,000) 
     (23,254,000)
  
    Total 
    $—  
    $— 

The
Company has provided a valuation allowance against deferred tax assets recorded as of December 31, 2024 and 2023 due to uncertainties
regarding the realization of such assets.

The
net change in the total valuation allowance for the year ended December 31, 2024 was an increase of approximately $3,070,000. The net
change in the