Company: MFON
Filing Date: 2025-04-07
Form Type: 10-K
Source: 0001641172-25-002942
Chunk: 375

Company: MOBIVITY HOLDINGS CORP.
Filing Date: 2025-04-07
Form: 10-K
Item: Item 1B
Chunk 375
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 Company.
Each UP Note bears interest on the unpaid balance at the rate of fifteen percent (15%) per annum and the principal and accrued interest
are due and payable no later than December 31, 2023. We may prepay any of the UP Notes without notice, subject to a two percent (2%)
pre-payment penalty. The UP Note offer was conducted by our management and there were no commissions paid by us in connection with the
solicitation. The Company issued to Talkot Fund LP warrants to purchase an aggregate of 33,017 shares of its common stock at the stated
exercise price per share in connection with the issuance of funds under this Credit Agreement.

On
January 31, 2023, the Lender agreed to postpone the 24-month repayment period to a later period commencing on January 31, 2024, and further
agreed that interest accrued on the loan between July 1, 2022 and December 1, 2025 is to be settled in shares of the Company’s
common stock quarterly.

On
January 31 2024, the Lender agreed to postpone the 24-month repayment period to a later period commencing on July 31, 2024.

As
of December 31, 2024, the Company had a principal balance of $271,875 and accrued interest of $41,461 that was recorded to Equity Payable.
A total of $96,988 of accrued interest from equity payable was converted into 120,883 shares of common stock.

Related
Party Convertible Notes

During
fourth quarter 2023 the Company issued 8 Convertible Notes payable to related parties for $2,000,000. As an inducement we issued 3,333,332
warrants to purchase shares of our common stock at $.60 per share. Simple interest on the unpaid principal balance of this Note will
accrue at the rate of 8.0% per annum. Accrual of interest will commence on the date of this Note, will continue until this Note is fully
paid, and will be payable in a single installment at maturity three years from the date the Convertible Note was issued.

The
Convertible Note and all accrued interest thereon are convertible into shares of our common stock, from time to time, at the option of
the holder thereof, at a conversion price per share equal to the larger of either $0.50 or of the volume-weighted average price of our