Company: MFON
Filing Date: 2025-04-07
Form Type: 10-K
Source: 0001641172-25-002942
Chunk: 927

Company: MOBIVITY HOLDINGS CORP.
Filing Date: 2025-04-07
Form: 10-K
Item: Item 7A
Chunk 927
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wards before utilization.

The
Company files income tax returns in the U.S. federal jurisdiction, Arizona, and California. Because the Company is carrying forward federal
and state net operating losses from 2006, the Company is subject to U.S. federal and state income tax examinations by tax authorities
for all years since 2006. The Company does not have a liability for any uncertain tax positions. As of December 31, 2024, no accrued
interest or penalties are recorded in the financial statements.

    -43-

12.
Fair Value Measurements of Financial Instruments

The
following table summarizes our financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2024:

 Schedule
of Fair Value Measurements Recurring and Nonrecurring

    Description 
    Level 1  
    Level 2  
    Level 3  
    Gains (Losses) 
  
    Goodwill (non-recurring) 
    $—  
    $—  
    $—  
    $— 
  
    Intangibles, net (non-recurring) 
    $—  
    $—  
    $55,689  
    $— 

The
following table summarizes our financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2023:

    Description 
    Level 1  
    Level 2  
    Level 3  
    Gains (Losses) 
  
    Goodwill (non-recurring) 
    $—  
    $—  
    $—  
    $— 
  
    Intangibles, net (non-recurring) 
    $—  
    $—  
    $65,916  
    $— 

The
Company recorded goodwill, intangible assets and an earn-out payable as a result its business combinations, and these assets were valued
with the assistance of a valuation consultant and consisted of Level 3 valuation techniques.

The
Company’s financial instruments consist of cash, accounts receivable, accounts payable, and accrued liabilities. The estimated
fair value of cash, accounts receivable, accounts payable and accrued liabilities approximate their carrying amounts due to the short-term
nature of these instruments. None of these instruments are held for trading purposes.

13.
Commitments and Contingencies

Litigation

As
of the date of this report, the company has two pending legal proceeding related to alleged violations of