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MFON > SEC Filings for MFON > Form 8-K on 3-Mar-2014All Recent SEC Filings

Show all filings for MOBIVITY HOLDINGS CORP.



Material Impairments

Item 2.06 Material Impairments

On February 28, 2014, the management of Mobivity Holdings Corp. (the "Company") concluded that the Company is required under U.S. generally accepted accounting principles to record a non-cash impairment charge of approximately $1.71 million as of December 31, 2013 related the Company's assets acquired from Front Door Insights, LLC ("FDI") and Sequence, LLC ("Stampt") in May 2013.

For the three months ended December 31, 2013, the Company revenues reached approximately $944,000 with a loss from operations (before non-cash impairment charges, depreciation, amortization, and share based compensation) of approximately $1,072,910.

The impairment charge involves the write-down of goodwill and intangible assets, such as contracts, technology, and trade names. The determination that impairment was required was based on the result of reduced assumptions for five year cash flows for each acquisition, in accordance with US generally accepted accounting principles.

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