PROSPECTUS SUPPLEMENT NO. 5 Filed Pursuant to Rule 424(b)(3) TO PROSPECTUS DATED AUGUST 23, 2005 Registration No. 333-123715 WIZZARD SOFTWARE CORPORATION Supplement No. 5 to Prospectus Dated August 23, 2005 This Prospectus Supplement No. 5 supplements and amends certain information contained in our Prospectus, dated August 23, 2005. This Prospectus Supplement No. 4 should be read in conjunction with, and may not be delivered or utilized without, the Prospectus and our Prospectus Supplement Nos. 1, 2, 3 and 4, which were filed with the Securities and Exchange Commission on January 6, 2006; May 15, 2006; June 14, 2006; and October 26, 2006, respectively. This Prospectus Supplement No. 5 is qualified by reference to the Prospectus and Prospectus Supplement Nos. 1, 2 3 and 4, except to the extent that the information in this Prospectus Supplement No. 5 supercedes the information contained in the Prospectus and Prospectus Supplement Nos. 1, 2, 3 and 4. The disclosure under the subheading "Warrant Table" on page 27 of the Prospectus is hereby amended to read as follows: Warrants. - --------- Warrant Table ------------- The following is a description of our outstanding warrants: Per Share Date of Number of Exercise Holders Grant Term Shares Price - ------- ----- ---- ------ ----- Alpha Capital 5/19/04 3 years 203,197 $1.25 Aktiengesellschaft Alpha Capital 2/8/05 (1) 293,333 $1.36 Aktiengesellschaft Genesis Microcap 2/8/05 (1) 73,333 $1.36 Inc. Alpha Capital 12/14/05 (2) 89,955 $3.41 Aktiengesellschaft Genesis Microcap 12/14/05 (2) 22,488 $3.41 Inc. Whalehaven Capital 12/14/05 (2) 44,977 $3.41 Fund Ltd. Alpha Capital 5/9/06 (3) 293,333 $2.27 Aktiengesellschaft Genesis Microcap 5/9/06 (3) 73,333 $2.27 Inc. Whalehaven Capital 5/9/06 (3) 146,667 $2.27 Fund Ltd. Alpha Capital 11/3/06 (4) 275,000 $2.50 Anstalt Genesis Microcap 11/3/06 (4) 131,250 $2.50 Inc. Whalehaven Capital 11/3/06 (4) 187,500 $2.50 Fund Ltd. Alpha Capital 11/3/06 (5) 550,000 $2.00 Anstalt Genesis Microcap 11/3/06 (5) 262,500 $2.00 Inc. Whalehaven Capital 11/3/06 (5) 375,000 $2.00 Fund Ltd. (1) These warrants have been extended to 5:00 p.m. EST on June 14, 2007. (2) These warrants are exercisable until 5:00 p.m. EST on June 14, 2007. (3) These warrants are exercisable until 5:00 p.m. EST on May 9, 2009. (4) These warrants are exercisable until 5:00 p.m. EST on November 3, 2009. (5) These warrants are exercisable until 5:00 p.m. EST on the 180th day following effectiveness of the registration statement by which the shares underlying the warrants are to be registered with the Securities and Exchange Commission. INVESTORS IN THE COMMON STOCK SHOULD HAVE THE ABILITY TO LOSE THEIR ENTIRE INVESTMENT SINCE AN INVESTMENT IN THE COMMON STOCK IS SPECULATIVE AND SUBJECT TO MANY RISKS, INCLUDING THE QUESTION AS TO WHETHER WE CAN CONTINUE AS A GOING CONCERN AND OUR HISTORY OF OPERATING LOSSES. SEE SECTION ENTITLED "RISK FACTORS" ON PAGE 4 OF THE PROSPECTUS. NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THESE SECURITIES OR DETERMINED IF THIS PROSPECTUS SUPPLEMENT NO. 5 OR THE ACCOMPANYING PROSPECTUS IS TRUTHFUL OR COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE. The date of this prospectus supplement is March 7, 2007.