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Related Party Transactions
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3 Months Ended |
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Mar. 31, 2013
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| Notes to Financial Statements | |
| NOTE 11 - Related Party Transactions |
Prior to the reverse merger on November 2, 2010, Optimal Payments Corporation converted $570,534 of debt into $370,534 worth of Mobivity Inc. common stock and $200,000 of prepaid services to be rendered by Mobivity. A member of the Company's Board of Directors is currently President of Sterling Card Solutions, which has a minority ownership position in Optimal Payments Corporation. The Company recognized revenue from this related party during the three months ending March 31, 2013 and 2012 totaling $-0- and $33,000, respectively. As of March 31, 2013, the remaining balance of prepaid services is $35,262.
See Note 12 for related party transactions completed subsequent to March 31, 2013. |
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- Details
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- Definition
The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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