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.
News and company communications describe Creatd, Inc. (OTCQB: CRTD) as a holding company investing in and operating businesses across technology, media, consumer, and capital markets, with a growing focus on advanced air mobility through its Flyte subsidiary. The CRTD news flow often highlights developments in private aviation, balance sheet restructuring, and capital markets strategy.
Recent updates emphasize Creatd’s transition toward aviation via Flyte, which the company describes as a private aviation platform with an FAA Part 135 Air Carrier Certificate and an AI-enabled aviation platform for regional hops, private charter, and high-end travel experiences. News items have covered Flyte’s fleet expansion with Cirrus Vision Jet aircraft, plans that include additional aircraft, and the launch of Flyte Escapes, an AI-enhanced luxury travel vertical offering integrated private jet itineraries, curated stays, and exclusive access.
Investors following CRTD news can also see disclosures about Creatd’s financial performance, including reported revenue growth, improvements in shareholder equity, and commentary on its efforts to rebuild its balance sheet. The company’s announcements discuss its movement between OTC market tiers, requalification for the OTCQB Venture Market, and steps such as filing an S-1 registration statement as part of a plan to pursue a future national exchange listing.
Other news items touch on Creatd’s broader portfolio activities, such as minority investments and advisory roles in areas like digital assets and capital markets. For readers tracking CRTD, this news stream provides insight into how Creatd positions Flyte, Flyte Escapes, and its wider holdings within its stated strategy of building and scaling high-potential businesses.
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.
Creatd, Inc. (OTCQB: CRTD) has initiated the application process for a dual-listing on Upstream, a global exchange for digital securities and NFTs. This strategic move aims to enhance liquidity and attract a worldwide investor base, allowing trades in USDC and traditional currencies. CEO Jeremy Frommer emphasized that this endeavor seeks to realize Creatd's stock value and pave the way for potential future opportunities, including the spin-off of monetizable assets. Listing approval is pending from MERJ.
Creatd, Inc. (OCTQB:CRTD) has launched the Vocal app for Android, complementing its earlier iOS release. This app enables creators to engage their audience with new Vocal+ features like Vocal Coins, a payment system, enhancing content discovery and personalization. CEO Jeremy Frommer highlighted that the app's availability on Android aims to broaden the audience reach and is expected to improve subscriber retention, potentially impacting the company's financial performance positively starting in fiscal year 2023.
Creatd, Inc. (OTCPK: CRTD) announced a registered direct offering to raise $800,000 as part of its restructuring plan aimed at reducing operating expenses and enhancing shareholder value. The offering includes the sale of 4 million common shares at $0.20 each, with attached warrants of the same amount. The maturity of the majority of its convertible debt has been extended to March 31, 2023. This strategic move is intended to provide the company with time to restructure and negotiate the sale of certain assets.
On September 15, 2022, Creatd, Inc. (OTCPK: CRTD) announced a partnership with Equinox, a luxury health club chain, to promote its wellness beverage brand, Dune. Club members experienced beverage samplings and received exclusive subscription promotions. CEO Thomas Punch emphasized the alignment of Equinox’s community with Dune’s target consumers and the importance of building market awareness to drive subscription revenue. Creatd operates multiple business segments aimed at providing opportunities for creators and brands.
Creatd, Inc. (Nasdaq CM: CRTD) announces significant leadership changes as Executive Chairman Jeremy Frommer steps into the role of Chairman and CEO. Justin Maury, the company's COO and co-founder, has been appointed to the board of directors, enhancing the board's capabilities. Maury has played a crucial role since the inception of Vocal in 2016 and will continue to oversee Creatd's technology roadmap. Frommer highlights this transition as a vital move for the company's strength and innovation as they advance towards their Web 3.0 strategy.
Creatd, Inc. (Nasdaq: CRTD) has been notified by Nasdaq of its decision to delist the company's stock due to not meeting the $2.5 million stockholders' equity requirement. The stock will cease trading on Nasdaq as of September 7, 2022, with plans to transition to the OTCQB marketplace. The company is appealing the decision and expects to complete a Rights Offering shortly. Despite this setback, management highlights a projected revenue growth of $1.25 to $1.5 million for Q3 and aims to achieve cash flow breakeven by Q3 2023 while reducing monthly cash burn.
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