Company: MFON
Filing Date: 2025-04-07
Form Type: 10-K
Source: 0001641172-25-002942
Chunk: 132

Company: MOBIVITY HOLDINGS CORP.
Filing Date: 2025-04-07
Form: 10-K
Item: Item 1
Chunk 132
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terms or at all. As of December 31, 2024, we had working capital deficit of $4,862,421. We raised $6.9 million in cash Convertible
Notes issued during 2024.

In
addition, we raised $2.3 million cash Convertible Notes issued during the 1st quarter of 2025. While we believe that our additional cash
from our warrant conversion along with our expected cash flow from operations, may not be sufficient to fund our 12-month plan of operations,
there can be no assurance that we will not require significant additional capital within 12 months. Also, we expect that we may require
additional capital beyond the next 12 months unless we are able to achieve and maintain a profitable operation. In the event we require
additional capital we will endeavor to raise additional funds through various financing sources, including the sale of our equity and
debt securities and the procurement of commercial debt financing. However, there can be no guarantees that such funds will be available
on commercially reasonable terms, if at all. If such financing is not available on satisfactory terms, we may be unable to expand or
continue our business as desired and operating results may be adversely affected. Any debt financing will increase expenses and must
be repaid regardless of operating results and may involve restrictions limiting our operating flexibility. If we issue equity securities
to raise additional funds, the percentage ownership of our existing stockholders will be reduced, and our stockholders may experience
additional dilution in net book value per share.

Our
ability to obtain needed financing may be impaired by such factors as the capital markets, both generally and specifically in our industry,
and the fact that we are not yet profitable, which could impact the availability or cost of future financings. If the amount of capital
we are able to raise from financing activities, together with our revenues from operations, is not sufficient to satisfy our capital
needs, we may be required to reduce or even cease operations.

-8-

Our
sales efforts to large enterprises require significant time and effort and could hinder our ability to expand our customer base and increase
revenue. Attracting new customers to our large enterprise division requires substantial time and expense, especially in an industry
that is so heavily dependent on personal relationships with executives. We cannot assure that we will be successful in establishing new
relationships or maintaining or advancing our current relationships. For example, it may be difficult to identify, engage and market
to customers who do not currently perform