Welcome to our dedicated page for Creatd news (Ticker: CRTD), a resource for investors and traders seeking the latest updates and insights on Creatd stock.
Creatd, Inc. (CRTD) acquires and operates technology-driven businesses in aviation, media and advisory services through a shared-services model. Company news centers on Flyte, its aviation subsidiary, including AI-enabled regional aviation, private charter activity, aircraft fleet additions and the FAA Part 135 Air Carrier Certificate referenced in company updates.
Recurring developments also include audited financial reporting, registration-statement activity, shareholder meetings, governance proposals, portfolio-company transactions and capital-structure actions such as the completed 1-for-20 reverse stock split. Updates frequently connect Creatd’s operating subsidiaries with its broader capital-markets and reporting-status strategy.
Creatd, Inc. (OTCQB: CRTD) announced the retention of Christian Levine Law Group to investigate issues related to naked short selling and stock fraud. Chairman and CEO Jeremy Frommer highlighted the detrimental effects of naked short selling, describing it as creating artificial shares that harm company integrity and investor interests. The firm aims to combat these practices, which have negatively impacted many investors. This strategic move aligns with Creatd's mission to enhance economic opportunities and strengthen the creator economy.
Creatd, Inc. (OTCQB: CRTD) announced its intent to dual-list on Upstream in January 2023, with plans to spin off OG Collection, Inc. and subsequently list it on the OTC market. The OG Collection successfully sold over 900 of a limited NFT drop within the first day, marking a significant revenue milestone. The new NFT drop features unique images from OG archives and includes a 10% royalty on secondary market sales. CEO Jeremy Frommer highlighted the unique advantages of the company's technology and first-party data in aiding brands in the NFT space.
Creatd, Inc. (OTCQB: CRTD) has engaged Shareholder Intelligence Services, LLC to combat potential illegal naked short-selling activities. The partnership aims to enhance market surveillance and protect shareholder interests. CEO Jeremy Frommer emphasized the necessity of this action to uphold market integrity. This move follows the establishment of CEOBloc, further demonstrating the company's commitment to addressing trading irregularities. Creatd's mission is focused on providing economic opportunities within the creator economy.
Creatd, Inc. (OTCQB: CRTD) has launched the largest-ever NFT drop featuring unique archival assets from its OG Collection. This initiative is part of the company's strategy to spin off the OG Collection onto the OTC Market in Q1 2023. The early sales results confirm the viability of this monetization approach. Additionally, the OG Gallery will serve as a key component of its Web 3.0 strategy, providing benefits such as exclusive merchandise and VIP access to NFT holders. Creatd aims to position itself at the forefront of the NFT space, enhancing opportunities for creators.
Creatd, Inc. (OTCQB: CRTD) has announced the completion of its first tranche of private financing for its media subsidiary, OG Collection, Inc., capturing 7.5% of its equity. The OG Collection, valued between $15MM to $20MM, is expected to go public in Q1 2023. Creatd has retained Sichenzia Ross Ference LLP for the spin-off, ensuring only shareholders of record will receive shares in the new entity. The company is also exploring additional strategies for other subsidiaries, aiming to enhance shareholder value.
Creatd, Inc. (OTCQB: CRTD) announced the upcoming launch of its largest NFT art drop, featuring 1,000 unique generative NFTs from the OG Gallery. Starting December 15, 2022, at 12PM EST, these NFTs can be minted for 0.02 ETH. The drop is based on archival materials from the OG Collection, combining rare images and archival elements. NFT holders will receive exclusive perks, including framed prints and early access to future drops. Additionally, Creatd confirmed a Letter of Intent to sell 25% of the OG Collection for approximately $2.5 million.
On December 6, 2022, Creatd, Inc. (OTCQB: CRTD) announced a Letter of Intent (LOI) for the sale of 25% equity in its subsidiary OG Collection, Inc. to Dorado Goose LLC for $2.5 million. This transaction values OG Collection at $10 million post-money. Following the sale, ownership stakes for existing shareholders will adjust from 80% to 60%, and management's share will decrease from 20% to 15%. The OG Collection houses a vast media archive, including images, original artworks, and footage. This move aims to enhance monetization efforts and expedite the spin-off process into a publicly listed entity.
Creatd, Inc. (OTCQB: CRTD) has appointed Erica Wagner, a renowned author and critic, to its board of directors. Wagner brings over 25 years of experience, having served as the Literary Editor of the London Times and as a judge for prestigious literary awards. Previously a strategic advisor for Creatd, she played key roles in editorial practices and the launch of Vocal's first podcast. Her appointment aims to enhance the company's creative direction and long-term vision for creators, positioning Creatd for potential growth in the creator economy.
Creatd, Inc. (OTCQB: CRTD) reported a 38% year-over-year increase in net revenues, totaling approximately $4MM for the nine months ending September 30, 2022, compared to $2.9MM the previous year. The company also achieved a $2.3MM improvement in EBITDA with a 32% reduction in operating expenses year-over-year. Creatd anticipates revenues exceeding $5MM for FY 2022 and reaffirms guidance of $8-12MM for FY 2023. The 10-Q report is due November 16, 2022, reflecting their growth trajectory and ongoing acquisition strategies.
Creatd, Inc. (OTCQB: CRTD) announced its 2022 Annual Shareholders' Meeting set for January 9, 2023, where management will discuss the timeline for a re-listing on a national exchange. Shareholders as of November 18, 2022, can vote during the meeting. CEO Jeremy Frommer projected gross revenues for FY22 between $7 - 10MM, with net revenues of $5.2 - 5.6MM, marking growth from FY21. For FY23, expected revenues are $15 - 20MM gross and $8 - 12MM net. The meeting will also include a Q&A session with management.