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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. (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.
Creatd, Inc. (Nasdaq: CRTD) announced a Rights Offering to sell up to 20 million Units priced at the volume-weighted average price (VWAP) from the S-1 Effective Date to the Record Date. Shareholders will receive two subscription rights per share, enabling the purchase of Units consisting of one share of Common Stock and a non-tradable 5-year Warrant at $1.00. Proceeds from this offering aim to support the Company's expansion plan, projecting FY2023 revenues up to $40MM. Details are available in a letter from the Executive Chairman.
Creatd, Inc. (Nasdaq CM: CRTD) reports positive developments for its consumer product goods (CPG) brands on Amazon, expecting increased online distribution for FY2023. The company has achieved record sales days on Amazon Prime for its products like Basis and Camp, with strong return-on-ad-spend. Additionally, Creatd continues to grow its brick-and-mortar presence through partnerships with Urban Outfitters and Erewhon Markets. The company is also exploring multiple acquisition opportunities to expand its product portfolio significantly in the coming quarters.
Creatd, Inc. (Nasdaq CM: CRTD) announced that its Vocal App, launched on August 11, 2022, has achieved over 5,000 downloads without any marketing spend. The app holds an impressive average rating of 4.8 stars from users. Creatd plans to launch the Vocal App for Android next month, while ongoing bi-weekly updates will enhance features like activity feeds and community subscriptions. The company anticipates reaching 10,000 active users by Q3's end and will delay increasing marketing expenditures until later this year.
Creatd Ventures has acquired Brave, a healthy breakfast brand, securing a 100% stake in the company. This acquisition, announced on August 24, 2022, is expected to be immediately accretive to Creatd's revenues, enhancing its overall portfolio value. The move represents the fourth majority ownership acquisition for Creatd Ventures, which focuses on scaling creator-led eCommerce brands. CEO Thomas Punch emphasized the strategic fit of Brave's health-oriented products within their offerings, aiming for expansion in both online and physical retail channels.
Creatd, Inc. (Nasdaq CM: CRTD) announced plans to acquire additional shares in its subsidiaries Dune, Inc. and WHE Agency, Inc. via all-stock transactions priced above market value. The Company aims to enhance its ownership stake to 70% in Dune and 61% in WHE, improving its balance sheet and positioning itself for potential future asset spin-offs. The deal with Dune involves a purchase of 20% for approximately $360,000 in common stock at $1.32 per share, while a similar deal with WHE will also involve a 17% stake for the same purchase price.
Creatd, Inc. (Nasdaq CM: CRTD) has appointed Tracy Willis as the new CEO of its influencer and content marketing arm, Creatd Partners. Since the integration of the WHE Agency, Willis has enhanced WHE's influencer network and brand partnerships. Under her leadership, Creatd Partners aims to expand talent acquisition and further develop its agency offerings through data-driven technologies. This appointment signals a strategic move to strengthen Creatd's position in the evolving digital agency landscape.
Creatd, Inc. reported strong financial results for Q2 2022, with gross revenues increasing 45% year-over-year to $3.6 million, and net revenues up 67% to over $1.6 million. The company anticipates 2022 gross revenues between $15 million and $20 million, exceeding previous guidance. Operating expenses decreased by 10% due to cost-cutting initiatives, which will be reinvested into growth initiatives, including expanding its technology and brand portfolio. Changes in leadership are also underway, with Jeremy Frommer taking over as CEO.
Creatd (Nasdaq: CRTD) announced the upcoming release of its Vocal mobile app on Android, scheduled for mid-September, following a successful iOS launch. This timely rollout aims to broaden the reach of creators' stories to a larger international audience, enhancing the user experience and monetization opportunities. The app features a new payment system, Vocal Coins, as part of a broader initiative. Creatd operates under four business segments designed to create a supportive ecosystem for creators, focusing on delivering economic opportunities and fostering brand partnerships.
Creatd, Inc. (Nasdaq CM: CRTD) announced the public release of the Vocal mobile app for iOS, designed to enhance the reach for Vocal creators. This app introduces features to improve reader experience, enabling better content discovery and monetization opportunities. Through the app, users can access a personalized library of curated stories, leveraging Vocal's subscription feature. The app aims to increase community engagement and open new revenue streams for creators and brands, aligning with Creatd's vision for the creator economy.