Company: MFON
Filing Date: 2025-06-06
Form Type: 10-Q
Source: 0001641172-25-014006
Chunk: 67

Company: MOBIVITY HOLDINGS CORP.
Filing Date: 2025-06-06
Form: 10-Q
Item: Part I, Item 8
Chunk 67
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 from the date of each Advance at a rate equal to fifteen percent (15%) per annum. Interest will be calculated on
the basis of 365 days in a year.” The amendment raised the maximum amount of the Credit Facility to $6,000,000. In addition, the
interest which is accrued monthly between July 1, 2022, and December 31, 2022, will be settled into equity. Common Stock will be issued
at the end of each month at a rate of $1.08 per share of common stock in the amount of the interest accrued for each month.

On January 31, 2023, the Company then entered into
Amendment No. 1 (the “Amendment”), which amends our existing Credit Facility Agreement[1], dated as of November
11, 2022, between the Company and Thomas B. Akin, and any convertible notes issued thereunder. The Amendment amends the existing Credit
Facility Agreement 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, and further provides that any accrued
interest on unpaid advances under the agreement is to be paid quarterly in shares of our common stock, at a price per share equal to the
volume-weighted average price of our common stock quoted on the Over-The Counter Venture Market operated by OTC Markets Group Inc. (“OTCQB®”)
over the ninety (90) trading days immediately preceding such date. The Amendment provides for corresponding amendments to the form of
convertible notes to be issued under the Credit Agreement in the future and any outstanding convertible notes issued under the existing
Credit Facility Agreement. The Amendment was considered a debt modification as the cash flows under the amended terms do not differ by
at least 10% from the cash flows under the original agreement.

On January 31, 2024 amended terms were agreed upon
and the Company then entered into Amendment No. 2 (the “Amendment”) signed on May 3,2024, which amends the terms of the Credit
Facility Agreement, between the Company and Thomas B. Akin, and any convertible notes issued thereunder. The Amendment amends the existing
Credit Facility Agreement to extend the maturity of the agreement and related convertible notes thereunder until June 30, 2026. Principal
payments have been deferred