Revenue and Cost of Revenue - Revenue decreased by $243,125, or 100%, to $75 for the six months ended June 30, 2024 compared to $243,200 for the same period in 2023, primarily due to the suspension of DISA product sales[90] - Cost of revenue decreased by $127,110, or 69%, to $56,259 for the six months ended June 30, 2024 from $183,369 in 2023, mainly due to reduced DISA deployment costs[91] - Revenues increased by $75 million, representing a 100% growth compared to the previous year[101] Gross Profit and Operating Expenses - Gross profit turned into a loss of $56,184 for the six months ended June 30, 2024, compared to a profit of $59,831 in 2023, primarily due to suspended DISA sales while server expenses continued[92] - Operating expenses increased by $687,058, or 19%, to $4,399,453 for the six months ended June 30, 2024, driven by higher public company costs and software development expenses[95] - Operating expenses increased by $329,201 (26%) to $1,609,883, driven by higher general and administrative expenses and software development costs[102] General and Administrative Expenses - General and administrative expenses surged by $1,676,549, or 217%, to $2,448,256 for the six months ended June 30, 2024, mainly due to public company-related costs[95] - General and administrative expenses rose by $371,150 (80%) to $834,244 due to increased costs related to being a public company[103] Salaries and Wages - Salaries and wages decreased by $1,054,219, or 56%, to $829,307 for the six months ended June 30, 2024, due to staff reductions and lower stock-based compensation[96] - Salaries and wages decreased by $35,938 (7%) to $446,924 due to staff reductions and lower stock-based compensation[103] Research and Development Expenses - Research and development expenses increased by $64,728, or 6%, to $1,121,890 for the six months ended June 30, 2024, driven by investments in next-generation AI platform development[96] - Research and development expenses decreased by $6,011 (2%) to $328,715 due to the elimination of certain software costs[103] - All research and development costs are expensed as incurred, including internal and third-party R&D costs[124] Net Loss and Financial Performance - Net loss widened by $3,163,542, or 59%, to $8,504,362 for the six months ended June 30, 2024 compared to the same period in 2023[89] - The company has a working capital deficiency of $776,256 and total cash of $627,847, raising substantial doubt about its ability to continue as a going concern[106] - Net cash used in operating activities was $4,557,406 for the six months ended June 30, 2024, compared to $1,602,982 in the same period in 2023[109] IPO and Financing Activities - The company completed its IPO on February 26, 2024, raising approximately $5.95 million gross proceeds by offering 1.4 million units at $4.25 per unit[88] - Cash provided by financing activities was $5,187,384, primarily from the sale of common stock units and preferred shares[112] - Current assets increased by $861,157 (6744%) to $873,927, primarily due to the initial public offering[105] - Current liabilities decreased by $6,243,946 (79%) to $1,650,183, mainly due to the settlement of convertible notes and trade liabilities[106] Product Development and Future Plans - The company anticipates launching its improved DISA product in the third quarter of 2024[90] Stock-Based Compensation and Accounting Policies - Stock-based compensation is measured using the fair value-based method and recognized over the vesting period[125] - The Black-Scholes model is used to measure the fair value of stock-based compensation, considering exercise price, expected dividends, volatility, risk-free rate, and expected life of options[126] FASB Updates and Accounting Standards - FASB issued ASU 2020-06, simplifying accounting for convertible instruments, effective for fiscal years beginning after December 15, 2023[127] - The adoption of ASU 2020-06 is not expected to have a material effect on the company's financial statements[128] - FASB issued ASU 2023-07, enhancing segment reporting disclosures, effective for annual periods beginning after December 15, 2023[129] - FASB issued ASU 2023-09, improving income tax disclosures, effective for fiscal years beginning after February 1, 2025[130] - The company does not expect ASU 2023-09 to have a material impact on its financial statements[130] - The company is currently evaluating the impact of ASU 2023-07 on its financial statements and disclosures[129] - As a smaller reporting company, the company is not required to provide certain market risk disclosures[130]

Vocodia Holdings Announces $2.8 million Preferred Stock Purchase Agreement as part of a $3.0 million Capital Raise Boca Raton, FL, August 5, 2024 – Vocodia Holdings Corp (CBOE: VHAI) ("Vocodia" or the "Company") a leader in AI software development focusing on practical AI applications, today announced the execution of a Securities Purchase Agreement (the "SPA") and a Placement Agency Agreement marking a pivotal step in Vocodia's strategic growth initiatives and capital structure optimization. Under the term ...

CHICAGO, Aug. 02, 2024 (GLOBE NEWSWIRE) -- Vocodia Holdings Corp. (CBOE: VHAI), a pioneering AI software company specializing in practical AI solutions, today invites the public to try out one of four groundbreaking Conversational AI demos to see how Vocodia's Digital Intelligent Sales Agents (DISA) actually work. Vocodia's technology platform harnessed the power of conversational AI and is changing the game for contact centers in all industries and today we are inviting you to take a closer look at DISA an ...

CHICAGO, Aug. 02, 2024 (GLOBE NEWSWIRE) -- Vocodia Holdings Corp. (CBOE: VHAI), a pioneering AI software company specializing in practical AI solutions, today invites the public to try out one of four groundbreaking Conversational AI demos to see how Vocodia's Digital Intelligent Sales Agents (DISA) actually work. Vocodia's technology platform harnessed the power of conversational AI and is changing the game for contact centers in all industries and today we are inviting you to take a closer look at DISA an ...

Greg Duffell and Peter Stockmann of Vulcain.ai Join Vocodia Holdings Corp. as Strategic Advisors VOCODIA CHICAGO, July 30, 2024- Vocodia Holdings Corp. (CBOE: VHAI), a pioneering AI software company specializing in practical AI solutions, today announced that Greg Duffell and Peter Stockmann of Vulcain.ai join Vocodia Holdings Corp. as Strategic Advisors, bringing a wealth of global expertise that will help open doors for Vocodia. Brian Podolak, Founder and CEO of Vocodia, commented, "We are excited that Gr ...

Greg Duffell and Peter Stockmann of Vulcain.ai Join Vocodia Holdings Corp. as Strategic Advisors Brian Podolak, Founder and CEO of Vocodia, commented, "We are excited that Greg and Peter will be joining Vocodia as strategic advisors. Each brings with them extensive development and management expertise from the travel and auto industries as well as a wealth of knowledge in Artificial Intelligence applications that will potentially enable us to open doors for some of our verticals in our pipeline. Their addit ...

Brian Podolak, Founder and CEO of Vocodia, commented, "Following recent success in securing key clients, Vocodia is now marking its entry into the online education sector with this milestone collaboration. This agreement represents the first time the company has applied it's AI technology to enhance the online educational experience in an innovative online learning community. We are excited to collaborate with American High School on this great opportunity for us to showcase our AI platform in an academic s ...

Phone: (646) 863-6893 Email: jramson@pcgadvisory.com About American High School For over 19 years, American High School has empowered over 56,000 students to access quality education at an affordable price, all from the comfort of their own homes. American High School's curriculum offers a personalized and comprehensive learning journey, seamlessly integrating cutting-edge technology for an enhanced pedagogical experience. CHICAGO, July 29, 2024 (GLOBE NEWSWIRE) -- Vocodia Holdings Corp. (CBOE: VHAI), a pio ...

Vocodia is an AI software company that develops practical AI solutions, making them easily accessible for businesses through cloud-based platforms. These solutions are cost-effective and scalable to enterprise levels. Vocodia specializes in conversational AI, providing scalable enterprise-level AI sales and customer service solutions. Their Digital Intelligent Sales Agents (DISAs) are designed to sound and feel human, performing tasks that require human-like conversation, thereby reducing labor costs and en ...

CHICAGO, July 22, 2024 — Vocodia Holdings Corp. (CBOE: VHAI), a pioneering AI software company specializing in practical AI solutions, today announces a new client after a successful pilot with MD Exam, a leading telemedicine provider of innovative, affordable, and high-quality weight loss programs. This collaboration agreement aims to initially streamline MD Exam's intake process, with a planned integration of Vocodia's advanced AI into nearly all their contact center operations over the next 90 days. Serg ...