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Vocodia Holdings Corp Warrants - Series B (25/02/2029) (VHABW0.00%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing shows a decrease in revenue to $50,156 from $252,820 in the same period the previous year, attributed to the suspension of sales of its DISA product to update its functionality.
Cost of revenue decreased to $130,321 from $200,289, leading to a gross loss of $80,090 compared to a gross profit of $52,531 in the prior year.
Operating expenses increased to $5,706,554 from $4,676,396, primarily due to higher general and administrative expenses related to being a public company.
The company reported an operating loss of $5,786,645 compared to $4,623,865 in the previous year.
Other expenses amounted to $4,048,400, including a loss on the settlement of debt of $3,824,936 and interest expense of $415,703.
The net loss for the period was $9,835,044, up from $7,148,940 in the previous year.
Cash used in operating activities was $5,289,085, while cash provided by financing activities was $5,292,432, including proceeds from an initial public offering.
Vocodia completed an IPO on February 26, 2024, raising $5,950,000 in gross proceeds.
The company faces substantial doubt about its ability to continue as a going concern, with management recognizing the need to obtain additional resources to develop its technology and implement business plans.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Vocodia Holdings Corp Warrants - Series B (25/02/2029) quarterly 10-Q report dated January 13, 2025. To report an error, please email earnings@qz.com.