3,784 results
10-Q
2024 Q1
VHAI
Vocodia Holdings Corp
21 May 24
Quarterly report
10:09am
Condensed Consolidated Statements of Operations
Three Months Ended | ||||||||
March 31, | ||||||||
2024 | 2023 | |||||||
Sales, net | $ | - | $ | 243,200 | ||||
Cost of Sales | - | 160,223 | ||||||
Gross profit | - | 82,977 | ||||||
Operating Expenses | ||||||||
General and administrative expenses | 1,646,902 | 308,613 | ||||||
Salaries and wages | 382,383 | 1,400,664 | ||||||
Research and development and other service providers | 793,175 | 722,436 | ||||||
Total Operating Expenses | 2,822,460 | 2,431,713 | ||||||
Operating Loss | (2,822,460) | (2,348,736) | ||||||
Other Income (Expense) | ||||||||
Other income | - | - | ||||||
Change in fair value of derivative liability | 115,296 | 15,787 | ||||||
Loss on settlement of debt | (3,824,936) | - | ||||||
Interest expense | (413,270) | (592,017) | ||||||
Total Other Income (Expense) | (4,122,910) | (576,230) | ||||||
Loss Before Taxes | (6,945,370) | (2,924,966) | ||||||
Income Taxes | - | - | ||||||
Net Loss | $ | (6,945,370) | $ | (2,924,966) | ||||
Basic and diluted loss per common share | $ | (0.37) | $ | (0.80) | ||||
Weighted average number of common shares outstanding - basic and diluted | 18,539,389 | 3,661,744 |
10-Q
2024 Q1
VHAI
Vocodia Holdings Corp
21 May 24
Quarterly report
10:09am
December 31, 2023 | Level 1 | Level 2 | Level 3 | Carrying Value | ||||||||||||
Liabilities: | ||||||||||||||||
Derivative Liability – Warrants | $ | - | $ | - | $ | 1,698,135 | $ | 1,698,135 | ||||||||
Derivative Liability – Conversion feature | - | - | 224,744 | 224,744 | ||||||||||||
Total Liabilities | $ | - | $ | - | $ | 1,922,879 | $ | 1,922,879 |
10-Q
2024 Q1
VHAI
Vocodia Holdings Corp
21 May 24
Quarterly report
10:09am
March 31, | December 31, | |||||||
2024 | 2023 | |||||||
Furniture and Fixtures | $ | 27,877 | $ | 27,877 | ||||
Computer Equipment | 9,684 | 9,684 | ||||||
Total Property and Equipment | 37,561 | 37,561 | ||||||
Less: accumulated depreciation and amortization | (15,774) | (14,294) | ||||||
Property and Equipment, net | $ | 21,787 | $ | 23,267 |
10-Q
2024 Q1
VHAI
Vocodia Holdings Corp
21 May 24
Quarterly report
10:09am
For the Three Months Ended March 31, 2023
Series A Preferred Stock | Series B Preferred Stock | Common Stock | Additional Paid-In | Accumulated | ||||||||||||||||||||||||||||||||
Shares | Amount | Shares | Amount | Shares | Amount | Capital | Deficit | Total | ||||||||||||||||||||||||||||
Balance, January 1, 2023 | 4,000,000 | $ | 400 | - | $ | - | 3,094,054 | $ | 309 | 83,434,035 | $ | (81,796,967) | $ | 1,637,777 | ||||||||||||||||||||||
Issuance of common stock and warrants for non-employee services | - | - | - | - | 158,193 | 18 | 501,989 | - | 502,007 | |||||||||||||||||||||||||||
Employee common stock compensation | - | - | - | - | 600,000 | 60 | 917,940 | - | 918,000 | |||||||||||||||||||||||||||
Common stock cancelled | - | - | - | - | (162,500) | (16) | 16 | - | - | |||||||||||||||||||||||||||
Issuance of Series B Preferred Stock | - | - | 155 | - | - | - | 155,000 | - | 155,000 | |||||||||||||||||||||||||||
Issuance common stock for settlement of debt | - | - | - | - | 25,000 | 3 | 38,247 | - | 38,250 | |||||||||||||||||||||||||||
Net loss | - | - | - | - | - | - | - | (2,924,966) | (2,924,966) | |||||||||||||||||||||||||||
Balance, March 31, 2023 | 4,000,000 | $ | 400 | 155 | $ | - | 3,714,747 | $ | 374 | 85,047,227 | $ | (84,721,933) | $ | 326,068 |
10-Q
2024 Q1
VHAI
Vocodia Holdings Corp
21 May 24
Quarterly report
10:09am
Three Months Ended | ||||||||
March 31, | ||||||||
2024 | 2023 | |||||||
Operating activities: | ||||||||
Net Loss | $ | (6,945,370) | $ | (2,924,966) | ||||
Adjustments to reconcile net loss to cash used in operating activities: | ||||||||
Depreciation | 1,480 | 1,480 | ||||||
Amortization of debt issuance costs | 165,082 | 577,793 | ||||||
Stock-based compensation | 153,000 | 1,420,007 | ||||||
Convertible note default penalty | 146,054 | - | ||||||
Change in fair value of derivative liability | (115,296) | (15,787) | ||||||
Loss on settlement of debt | 3,824,936 | |||||||
Changes in operating assets and liabilities: | ||||||||
Prepaid expenses and other assets | (308,464) | 108,552 | ||||||
Accounts payable and accrued expenses | 651,120 | 197,057 | ||||||
Contract liability | - | (203,000) | ||||||
Net change in operating right-of-use lease asset and liability | (1,112) | (1,085) | ||||||
Cash used in operating activities | (2,428,570) | (839,949) | ||||||
Financing activities: | ||||||||
Proceeds from issuance of common stock units | 5,372,787 | - | ||||||
Deferred offering costs | (24,375) | (2,533) | ||||||
Proceeds from issuance of Series B Preferred stock | 605,000 | 155,000 | ||||||
Proceeds from related party payable | - | 65,598 | ||||||
Proceeds from notes payable | 30,000 | - | ||||||
Repayment of notes payable | (55,000) | - | ||||||
Repayment of convertible notes payable | (802,984) | - | ||||||
Cash provided by financing activities | 5,125,428 | 218,065 | ||||||
Change in cash and cash equivalents | 2,696,858 | (621,884) | ||||||
Cash and cash equivalents, beginning balances | - | 697,626 | ||||||
Cash and cash equivalents, ending balances | $ | 2,696,858 | $ | 75,742 | ||||
Supplemental cash flow information: | ||||||||
Cash paid for interest | $ | 109,088 | $ | - | ||||
Cash paid for taxes | $ | - | $ | - | ||||
Non-Cash Investing and Financing Activities: | ||||||||
Initial derivative liabilities recognized as a debt discount | $ | - | $ | 505,227 | ||||
Common stock cancellation | $ | - | $ | 16 | ||||
Series C warrant issued | $ | 1,053,514 | $ | - | ||||
Issuance common stock for settlement of debt | $ | 286,808 | $ | - | ||||
Common stock issued for conversion of debt | $ | 7,657,990 | $ | - | ||||
Common stock issued for conversion of Series B Preferred Shares | $ | 69 | $ | - | ||||
Common stock issued for exercise of warrants | $ | 892 | $ | - | ||||
Common stock issued for settlement of legal fees for offering costs | $ | - | $ | 38,250 | ||||
Issuance common stock for services -related party, restricted stock awards (‘RSA”) | $ | - | $ | 183,600 |
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