Vocodia Holdings Corp Delivers a Corporate Update on Strategic Growth

Company outlines vision for building long-term shareholder growth

BOCA RATON, Fla., April 17, 2024 (GLOBE NEWSWIRE) -- Vocodia Holdings Corp (CBOE: VHAI) ("Vocodia" or the "Company"), a leader in AI software development focusing on practical AI applications, today provided an update on the Company's progress since becoming public, highlighting recent achievements and outlining future growth strategies.

Brian Podolak, CEO of Vocodia, expressed optimism about the Company’s trajectory, stating, “Vocodia is entering a transformative period marked by key strategic partnerships and significant technological breakthroughs. Our next-generation conversational AI technology is redefining standards for customer interaction through efficiency and personalization, opening substantial revenue opportunities for our clients in major industries worldwide.”

Operational Milestones:

• In February, Vocodia announced the installation of its AI service platform at dealerships of a top 3 global automobile reseller, with more installations expected in the first year. This program, based on a fixed price per location pricing model, is anticipated to enhance Vocodia's revenue and profitability. Additional pilot programs with other auto resellers are also in progress.

• Vocodia recently launched a pilot program with a major utility provider, utilizing its AI technology to streamline the process of switching energy providers. This initiative is designed to improve operational efficiency and reduce costs. The pilot targets an energy provider with over 1 million customer connections.
  

Strategic Growth Initiatives:

• Vocodia is advancing its AI technology platform through upgrades to its proprietary switch. This will increase the speed and reliability of AI-to-customer connections, reduce reliance on external telecom infrastructure, and lower operational risks, facilitating rapid scaling across various industries. The Company is committed to continuous innovation and improvement of its technology to maintain leadership in service delivery and operational efficiency.
  

Financial Highlights:

• Vocodia completed its underwritten initial public offering (IPO), raising $5.95 million. The IPO comprised 1,400,000 units, including common stock, Series A Warrants, and Series B Warrants. Additionally, the Company granted underwriters an option to purchase extra shares. Each unit was offered at $4.2500, generating gross proceeds of $5,558,764.75. This successful initiative has strengthened the Company's financial foundation and broadened its support base.

• CEO Brian Podolak, along with significant contributions from co-founder and CTO James Sposato and CFO Scott Silverman, invested $400,000 in the Company's IPO. This investment underscores the leadership team's belief in Vocodia's strategic direction and alignment with shareholder interests.