Auddia Inc. Announces Departure of Chief Financial Officer
Auddia Inc. (NASDAQ: AUUD, AUUDW) announced the departure of its CFO, Brian Hoff, who is moving to a private equity-backed manufacturing firm. In response, the company has engaged an outside firm to assist with financial reporting and will start a search for a new CFO. Hoff will continue to consult with Auddia during the transition to ensure stability. Auddia confirmed that it will meet all Q3 SEC filing deadlines without disruptions. The company continues to innovate in audio engagement through its AI platform and offers unique podcast technologies.
- Engaged an outside firm to support financial reporting during CFO transition.
- Continued consulting support from former CFO ensures smooth transition.
- Affirmation of timely Q3 SEC filings indicates stable financial operations.
- Departure of CFO may create uncertainty during leadership transition.
Company has Engaged an Outside Firm to Support Financial Reporting and Related CFO Activities During Its Recruitment Effort
BOULDER, CO, Nov. 04, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – Auddia Inc. (NASDAQ:AUUD) (NASDAQ:AUUDW) ("Auddia" or the "Company"), developer of a proprietary AI platform for audio and innovative technologies for podcasts that is reinventing how consumers engage with radio, today announced the departure of its Chief Financial Officer (“CFO”), Brian Hoff. Mr. Hoff is leaving the Company to join a private equity backed manufacturing company, as CFO.
Auddia’s Board of Directors has approved an outside firm to support financial reporting and serve as fractional CFO effective upon Mr. Hoff’s departure. The Company has also launched a formal search process to identify a new CFO.
“We would like to thank Brian for his many contributions over the past year and a half and for his continued support during our transition to a new CFO,” said Jeff Thramann, executive chairman of Auddia, Inc. “Brian has agreed to continue serving Auddia as a consultant until our new CFO is in position which will smooth the transition and ensure there is no disruption. We are grateful for his continued support and wish him well in his new position.”
“I would like to thank the Auddia board and management team for the opportunity to advance my career by serving as CFO. The experience was invaluable and I remain available to help ensure a smooth transition,” said Brian Hoff.
The Company affirms that it will submit all Q3 SEC filings in a timely manner, and anticipates no disruption in future filings or financial operations.
About Auddia Inc.
Auddia is reinventing how consumers engage with audio through the development of a proprietary AI platform for audio and innovative technologies for podcasts. Auddia offers two industry firsts-the ability to listen to any AM/FM radio station with added personalized content and no commercials, as well as podcasts with an interactive digital feed that supports deeper stories and delivers digital revenue to podcasters. Both offerings address large and rapidly growing audiences with strong purchase intent. For more information, visit: www.auddia.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 about the Company's current expectations about future results, performance, prospects and opportunities. Statements that are not historical facts, such as "anticipates," "believes" and "expects" or similar expressions, are forward-looking statements. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the Company's current plans and expectations, as well as future results of operations and financial condition. These and other risks and uncertainties are discussed more fully in our filings with the Securities and Exchange Commission. Readers are encouraged to review the section titled "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2021, as well as other disclosures contained in the Annual Report and subsequent filings made with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date and the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Relations:
Kirin Smith, President
PCG Advisory, Inc.
ksmith@pcgadvisory.com
(646) 823-8656
www.pcgadvisory.com
FAQ
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