Core Insights - Auddia Inc. has launched two new features, Forward+ and Chapter Visualization, for podcast listening on its iOS faidr app, enhancing user experience [1][2] - These features utilize the company's proprietary AI and Natural Language Processing technology, aiming to provide a more efficient podcast listening experience [2][3] - The features are available for free on hundreds of podcasts, differentiating them from other subscription-based offerings in the market [2] Company Overview - Auddia Inc. is focused on reinventing consumer engagement with audio content, including AM/FM radio and podcasts, through its AI platform [4] - The faidr app offers unique features such as subscription-based ad-free listening and interactive digital feeds for podcasts, targeting a growing audience with strong purchase intent [4]

Core Insights - The article emphasizes the importance of maintaining a long-term perspective when trading penny stocks, especially during market downturns, as this can lead to significant growth opportunities [1][4][12] - It highlights the necessity of having a well-defined investment strategy that aligns with individual financial goals and market trends [6][7][8] - The significance of discipline and patience is underscored, as these traits help investors avoid impulsive decisions and manage emotions during volatile market conditions [9][10][11] Group 1: Long-Term Potential - Focusing on the long-term potential of penny stocks can yield substantial rewards, as these stocks often represent emerging businesses with growth prospects [4][5] - Market drops may temporarily affect stock prices, but they do not necessarily reflect the true potential of the underlying companies [4][5] - Investors who understand the companies behind their investments are better positioned to make informed decisions and capitalize on growth opportunities [5] Group 2: Overall Strategy - A clear investment strategy is essential for maximizing gains in penny stocks, whether the focus is on short-term or long-term growth [6][7] - Aligning stock choices with broader portfolio goals and staying informed about industry trends can enhance investment decisions [7][8] - A defined strategy helps prevent impulsive reactions to market fluctuations, allowing investors to maintain focus on long-term objectives [8] Group 3: Discipline and Patience - Discipline is crucial for navigating significant price fluctuations in penny stocks, enabling investors to adhere to their investment plans [9][11] - Patience is necessary for allowing companies time to execute growth strategies and establish market presence, leading to potential long-term rewards [10] - Maintaining a level-headed approach during market volatility helps investors make rational decisions that align with their overall strategy [11]

Core Insights - Over 90% of new vehicles now offer Apple CarPlay or Android Auto, enhancing consumer access to audio content through Auddia's faidr app [1][2] - When these smartphone mirroring technologies are available, AM/FM radio accounts for 46% of audio listening time, followed by SXM at 19% and music streaming at 18% [2] Company Strategy - Auddia has launched Apple CarPlay and Android Auto interfaces for its faidr app, allowing easier and safer access to audio content in vehicles [1][3] - The company aims to integrate faidr into more platforms, including direct integrations into vehicle infotainment systems, to expand its reach [3][4] - Auddia's growth strategy includes expanding audio listening options to smart speakers, desktops, and home entertainment systems [4] Product Differentiation - Auddia's faidr app offers unique features such as ad-free AM/FM radio and interactive podcast feeds, targeting a growing audience with strong purchase intent [6][7] - The company plans to introduce an AI-assisted music-only AM/FM offering in Q4, allowing consumers to listen to their favorite stations without ads or DJs [5]

Core Insights - Auddia Inc. has launched faidr 3.1, enhancing user experience and aiming to increase subscription revenue through improved user metrics [1][5] - The company is focusing on converting consumer interest in ad-free AM/FM radio and podcasts into retained users and significant revenue [1][4] Product Enhancements - The new features in faidr 3.1 include Forward+ for skipping content segments and Seamless for ad-free listening on partner podcasts, which are expected to improve user engagement [2][4] - Auddia has integrated a new onboarding process and is planning further enhancements, including Android Auto and Apple CarPlay integrations [4][5] Market Strategy - The company aims to expand its user base on the free tier to facilitate the conversion of free users to subscribers, leveraging its unique offerings in the audio streaming market [4][6] - Auddia's strategy includes providing exclusive content and playlists, targeting large audiences with strong purchase intent [6][7]

BOULDER, CO, Aug. 15, 2024 (GLOBE NEWSWIRE) -- Auddia Inc. (NASDAQ:AUUD) (NASDAQ:AUUDW) (“Auddia” or the “Company”), a proprietary AI platform for audio identification and classification and related technologies, reinventing how consumers engage with AM/FM radio, podcasts, and other audio content, today announced that it will be presenting at the upcoming Virtual Investor Summit on August 20, 2024. Investors may request a one-on-one meeting with management by registering here: https://investorsummitgroup.co ...

[PART I – FINANCIAL INFORMATION](index=4&type=section&id=PART%20I%20%E2%80%93%20FINANCIAL%20INFORMATION) [Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) The company's unaudited condensed financial statements for June 30, 2024, show increased assets and equity, reduced liabilities, and continued net losses [Condensed Balance Sheets](index=4&type=section&id=Condensed%20Balance%20Sheets) Condensed Balance Sheet Highlights (Unaudited) | Account | June 30, 2024 | December 31, 2023 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $1,882,205 | $804,556 | | Total current assets | $2,020,853 | $862,808 | | Total assets | $5,140,550 | $4,403,048 | | **Liabilities & Equity** | | | | Total current liabilities | $363,163 | $3,982,628 | | Total liabilities | $431,988 | $3,982,628 | | Total shareholders' equity | $4,708,562 | $420,420 | | Total liabilities and shareholders' equity | $5,140,550 | $4,403,048 | [Condensed Statements of Operations](index=5&type=section&id=Condensed%20Statements%20of%20Operations) Statement of Operations Summary (Unaudited) | Metric | Six Months Ended June 30, 2024 | Six Months Ended June 30, 2023 | | :--- | :--- | :--- | | Revenue | $0 | $0 | | Total operating expenses | $3,709,010 | $3,631,696 | | Loss from operations | ($3,709,010) | ($3,631,696) | | Net loss | ($4,510,753) | ($4,478,174) | | Net loss per share (basic and diluted) | ($2.38) | ($7.96) | [Condensed Statements of Changes in Shareholders' Equity](index=6&type=section&id=Condensed%20Statements%20of%20Changes%20in%20Shareholders%27%20Equity) - Total shareholders' equity increased from **$420,420** at December 31, 2023, to **$4,708,562** at June 30, 2024. This was driven by the issuance of common and preferred stock, and conversion of debt to equity, which offset the net loss for the period[19](index=19&type=chunk) [Condensed Statements of Cash Flows](index=7&type=section&id=Condensed%20Statements%20of%20Cash%20Flows) Cash Flow Summary (Unaudited) | Cash Flow Activity | Six Months Ended June 30, 2024 | Six Months Ended June 30, 2023 | | :--- | :--- | :--- | | Net cash used in operating activities | ($2,633,821) | ($2,214,728) | | Net cash used in investing activities | ($537,120) | ($529,503) | | Net cash provided by financing activities | $4,248,590 | $4,687,941 | | Net increase in cash | $1,077,649 | $1,943,710 | | Cash, end of period | $1,882,205 | $3,605,144 | [Notes to Condensed Financial Statements](index=8&type=section&id=Notes%20to%20Condensed%20Financial%20Statements) - The company executed a **1-for-25 reverse stock split** effective February 26, 2024. All stock amounts have been retrospectively adjusted[29](index=29&type=chunk)[30](index=30&type=chunk) - There is substantial doubt about the company's ability to continue as a **going concern** due to recurring losses and the need for additional financing. Current cash is not sufficient to execute the business plan beyond the fourth quarter of 2024[35](index=35&type=chunk)[36](index=36&type=chunk) - In April 2024, the company repaid **$2.75 million** in principal on its Secured Bridge Notes and converted **$911,384** of accrued interest and original issue discount into equity securities[63](index=63&type=chunk) - The company regained compliance with Nasdaq's minimum bid price and stockholders' equity requirements in March and May 2024, respectively. It will be subject to a **Mandatory Panel Monitor** for one year[73](index=73&type=chunk)[75](index=75&type=chunk) - During the six months ended June 30, 2024, the company raised approximately **$4.9 million** through its equity line with White Lion and received **$2.314 million** in gross proceeds from a convertible preferred stock and warrants financing[87](index=87&type=chunk)[88](index=88&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=20&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the AI-powered audio Superapp 'faidr,' ongoing operating losses, and recent financing activities to support growth and Nasdaq compliance [Overview](index=20&type=section&id=MD%26A%20Overview) - Auddia is a technology company developing a proprietary **AI platform for audio**, primarily leveraged in its "faidr" Superapp. The app provides consumers with commercial-free AM/FM radio, ad-reduced podcasts, and exclusive content[97](index=97&type=chunk)[98](index=98&type=chunk) - The company's AI platform can differentiate between various audio content types (e.g., commercials, songs, news) to enable real-time content replacement for a personalized listening experience[100](index=100&type=chunk) - The company has incurred significant operating losses since inception, with an accumulated deficit of **$85.1 million** as of June 30, 2024, and expects expenses to increase with the national launch and enhancement of the faidr App[109](index=109&type=chunk) [Recent Developments](index=23&type=section&id=Recent%20Developments) - The company is actively exploring mergers and acquisitions to accelerate user adoption and scale the business, though it terminated the planned acquisition of RadioFM in March 2024[114](index=114&type=chunk)[115](index=115&type=chunk) - Auddia regained compliance with Nasdaq's minimum bid price and stockholders' equity requirements in Q2 2024, resolving prior deficiency notices[117](index=117&type=chunk)[119](index=119&type=chunk) - A **1-for-25 reverse stock split** was effected on February 26, 2024, to help regain compliance with Nasdaq's minimum bid price rule[120](index=120&type=chunk) [Results of Operations](index=25&type=section&id=Results%20of%20Operations) Comparison of Operations for the Three Months Ended June 30 | Metric | 2024 | 2023 | Change % | | :--- | :--- | :--- | :--- | | Total operating expenses | $1,654,390 | $1,784,289 | (7.3%) | | General and administrative | $734,325 | $892,510 | (17.7%) | | Interest expense | ($16,647) | ($538,572) | (96.9%) | | Net loss | ($2,303,425) | ($2,322,861) | (0.8%) | Comparison of Operations for the Six Months Ended June 30 | Metric | 2024 | 2023 | Change % | | :--- | :--- | :--- | :--- | | Total operating expenses | $3,709,010 | $3,631,696 | 2.1% | | General and administrative | $1,945,124 | $1,819,336 | 6.9% | | Interest expense | ($169,355) | ($846,478) | (80.0%) | | Net loss | ($4,510,753) | ($4,478,174) | 0.7% | - For the six months ended June 30, 2024, the increase in General and Administrative expenses was driven by higher salary and professional fees related to potential acquisitions and compliance, partially offset by lower stock compensation expense[144](index=144&type=chunk) [Liquidity and Capital Resources](index=28&type=section&id=Liquidity%20and%20Capital%20Resources) - As of June 30, 2024, the company had cash and cash equivalents of **$1,882,205**. Despite raising **$7.1 million** in 2024, current funds are only sufficient to support operations into the fourth quarter of 2024[147](index=147&type=chunk) - On April 26, 2024, the company repaid **$2.75 million** of principal on its Secured Bridge Notes after raising over **$6 million** in new equity financing[153](index=153&type=chunk) - Through June 30, 2024, the company sold **1,940,000 shares** to White Lion under its equity line agreement for total net proceeds of **$4,852,508**[160](index=160&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=34&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) As a smaller reporting company, the company is exempt from providing disclosures about market risk - As a smaller reporting company, Auddia is exempt from providing disclosures about market risk under this item[183](index=183&type=chunk) [Controls and Procedures](index=34&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of June 30, 2024, following remedial actions for prior material weaknesses - Management concluded that disclosure controls and procedures were effective as of the end of the period covered by this report (June 30, 2024)[184](index=184&type=chunk) - The company has taken several remedial actions to address previously identified material weaknesses, including hiring a new CFO in 2023, engaging outside consultants, and implementing new internal control procedures[185](index=185&type=chunk) [PART II – OTHER INFORMATION](index=35&type=section&id=PART%20II%20%E2%80%93%20OTHER%20INFORMATION) [Legal Proceedings](index=35&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in routine legal matters, including a pre-IPO investor claim, but expects no material adverse effect - The company faces routine legal proceedings but does not expect a material adverse impact on its business or financial condition[188](index=188&type=chunk) - A pre-IPO investor has asserted a claim for damages of less than approximately **$300,000**. No complaint has been filed, and no accrual has been made as the outcome is not probable or estimable[70](index=70&type=chunk) [Risk Factors](index=35&type=section&id=Item%201A.%20Risk%20Factors) No material changes to the company's risk factors have occurred since the Annual Report on Form 10-K for 2023 - There have been no material changes to the company's risk factors from those disclosed in the Annual Report on Form 10-K for the year ended December 31, 2023[189](index=189&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=35&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) This section is not applicable, as the company did not repurchase any equity securities during the quarter - The company did not repurchase any of its equity securities during the quarter ended June 30, 2024[189](index=189&type=chunk) [Defaults Upon Senior Securities](index=35&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reports no defaults upon senior securities - None reported[189](index=189&type=chunk) [Mine Safety Disclosures](index=35&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) The company reports no mine safety disclosures - None reported[189](index=189&type=chunk) [Other Information](index=35&type=section&id=Item%205.%20Other%20Information) No director or officer adopted or terminated a Rule 10b5-1 trading arrangement during the quarter ended June 30, 2024 - No director or officer of the Company adopted or terminated a Rule 10b5-1 trading arrangement during the quarter ended June 30, 2024[190](index=190&type=chunk) [Exhibits](index=36&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the quarterly report, including CEO and CFO certifications - The report includes a list of exhibits filed, including CEO and CFO certifications under Section 302 and Section 906 of the Sarbanes-Oxley Act[192](index=192&type=chunk)[194](index=194&type=chunk)

Ultimate Motorcycling Magazine’s Podcast Motos And Friends Will be the First Partner for faidr’s Subscription Beta faidr’s Beta Program Pays Podcast Owners per Listen While Delivering an Ad-reduced Experience for Users BOULDER, CO, July 09, 2024 (GLOBE NEWSWIRE) -- Auddia Inc. (NASDAQ:AUUD) (NASDAQ:AUUDW) (“Auddia” or the “Company”), a proprietary AI platform for audio identification and classification and related technologies, reinventing how consumers engage with AM/FM radio, podcasts, and other audio con ...

Ultimate Motorcycling Magazine's Podcast Motos And Friends Will be the First Partner for faidr's Subscription Beta faidr's Beta Program Pays Podcast Owners per Listen While Delivering an Ad-reduced Experience for Users BOULDER, CO, July 09, 2024 (GLOBE NEWSWIRE) -- Auddia Inc. (NASDAQ:AUUD) (NASDAQ:AUUDW) ("Auddia" or the "Company"), a proprietary AI platform for audio identification and classification and related technologies, reinventing how consumers engage with AM/FM radio, podcasts, and other audio con ...

Common Stock, par value $0.001 per share AUUD The Nasdaq Stock Market | --- | --- | --- | |------------------------------------------------------------------|-------|-------------------------------| | | | | | Warrants, each exercisable for one share of Common | AUUDW | The Nasdaq Stock Market | | Stock | | | Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quar ...

Proprietary AI and NLP Technology Used for Audio Stream Processing and Content Detection Being Ported to the Cloud Cloud Infrastructure Brings Scale Required to Attract and Enable SaaS  Partnerships With Largest Audio Broadcasting and Publishing Companies, Enabling More Rapid Distribution of Auddia's Technology  BOULDER, CO, April 30, 2024 (GLOBE NEWSWIRE) -- via NewMediaWire – Auddia Inc. (NASDAQ:AUUD) (NASDAQ:AUUDW) ("Auddia" or the "Company"), developer of a proprietary AI platform for audio and innovati ...