Auddia Inc. has announced the signing of a third non-binding letter of intent (LOI) to acquire a streaming audio company, which would enhance its faidr app by adding high-margin music player capabilities and reducing costs for cover content during ad-breaks. The technology would also improve personalization for AM/FM streaming and provide direct access to auto manufacturers' stereo headunits. The acquisition is part of Auddia's strategy to grow its user base and revenue, with the potential to add $6.5 million in annual revenue and $3 million in free cash flow. The deal is subject to securing adequate financing, and Auddia is progressing towards binding purchase agreements for two other acquisitions announced in June 2023.