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Creatd, Inc. (OTCQB: CRTD) is a leading innovator in digital technology and creator-centric platforms based in the United States. The company provides an array of tools and curated communities to assist creators, from bloggers to podcasters, in effectively monetizing their content. By enabling creators to connect with their ideal audiences and partner with relevant brands, Creatd fosters a robust ecosystem for storytelling and content creation.
The company has recently embarked on a strategic initiative to acquire TAMI Ventures Inc., marking a significant expansion in their portfolio. The proposed acquisition, set to be completed through an all-preferred shares transaction, aims to integrate TAMI Ventures' extensive portfolio of proprietary technology platforms, which include social media, sports betting, fantasy sports, eSports, and more. This merger not only broadens Creatd’s technological assets but also positions the combined entity to tap into the burgeoning sports betting market.
In 2023, the sports betting sector in the United States saw a record $119.84 billion wagered, highlighting its rapid growth and potential. Leveraging TAMI Ventures' capabilities, Creatd plans to introduce an innovative gaming social media platform that will empower digital influencers and content creators. This initiative is expected to generate significant growth synergies and enhance Creatd’s market presence.
Financially, Creatd is demonstrating strong resilience and strategic foresight. Following a reverse stock split, the company saw a 300% increase in valuation and eliminated nearly $1M in payables. The impending Schedule 13G filings by major investors, who control approximately 22% of Creatd’s publicly traded shares, reflect strong investor confidence and a commitment to the company’s growth trajectory.
Despite facing challenges such as delayed financial filings, Creatd remains focused on enhancing its net equity and cash reserves. The company anticipates releasing its 10-K report and Q1 financial filings in mid-2024, underscoring its commitment to transparency and robust financial health. Moving forward, Creatd aims to achieve uplisting to a national exchange, further solidifying its market position and shareholder value.
Jeremy Frommer, CEO of Creatd, Inc., emphasizes the company's dedication to building a diversified portfolio of leading-edge tech and media assets. The continued expansion of Vocal, a 100% owned social media technology platform subsidiary, along with strategic acquisitions, underscores Creatd's commitment to growth and innovation.
Creatd (OTCQB: CRTD) has engaged an accounting firm to audit its subsidiary, OG Collection, Inc., ahead of an Upstream listing and a special dividend distribution. This dividend, expected in the second week of April, aims to deliver significant value to shareholders. The audit is anticipated to conclude by the end of March, with the spin-off and issuance of tradeable shares occurring by the second quarter. The OG Collection's estimated valuation ranges from $10 million to a potential 7-10 times that figure. This initiative also targets combating naked short selling and enhancing shareholder engagement through blockchain technology.
Creatd, Inc. (OTCQB: CRTD) announced on February 24, 2023, its decision to halt proposed acquisition discussions with Global Tech Industries Group, Inc. (GTII). The company will adhere to the no-shop terms outlined in the signed Letter of Intent with GTII. This decision reflects a strategic shift as Creatd continues to focus on its mission of providing economic opportunities within the creator economy. The firm is dedicated to fostering a safe and viable ecosystem for its stakeholders.
Creatd, Inc. has appointed Dan Bates, CEO of Clean Vision Corporation (OTC-PINK: CLNV), to its CEOBLOC Advisory Board. This board unites CEOs aiming to protect retail investors from abusive trading practices. Bates joins existing members Jeremy Frommer (CRTD) and Martin Shen (FNGR). The advisory board members undergo a vetting process and commit to a unified cause of advocating for retail investors. Bates expressed enthusiasm about collaborating within CEOBLOC to drive legislative changes. As part of their mission, CEOBLOC will lobby against practices believed to harm retail investors.
Creatd (OTCQB: CRTD) has commenced trading on Upstream, becoming one of the first companies to dual list on this innovative platform. The company's securities are now available on both the OTCQB and Upstream under the same ticker symbol, CRTD. This move aims to enhance market accessibility for global investors, who can trade through the Upstream app. The platform operates five days a week, offering real-time trading and a transparent order book. Notably, U.S. and Canadian investors are limited to trading shares currently owned for liquidation. Additionally, Creatd has released a commemorative NFT for the dual listing.
Creatd, Inc. (OTCQB: CRTD) has integrated OpenAI's APIs into its operations following a 90-day R&D phase. This advancement aims to enhance moderation, curation, and content generation on its Vocal platform, which supports nearly 2 million creators. The company's strategy focuses on automating processes to improve cash flow and reduce overhead costs. Future updates will provide creators with direct access to AI tools for content generation, including text-to-speech audio stories. CEO Jeremy Frommer highlighted that this investment accelerates the company's path to achieving positive EBITDA.
Creatd, Inc. (OTCQB: CRTD) has submitted an application to list its subsidiary, OG Collection, Inc., on Upstream. This spin-off is expected to occur in the first half of 2023 and will also include a special dividend for shareholders as of a soon-to-be-announced record date. The Upstream platform is designed to facilitate global accessibility for investors, allowing trades in USDC and traditional currencies. CEO Jeremy Frommer emphasized this move as part of their strategic vision to enhance liquidity and eliminate naked short selling. Approval from MERJ Exchange is necessary for the listing.
Creatd, Inc. (OTCQB: CRTD) has announced the launch of its inaugural image curation through its subsidiary, OG Collection, in partnership with Getty Images. This collection includes iconic images of cultural figures like Spike Lee and Muhammad Ali, and aims to commemorate the legacies of women associated with Penthouse. The collection is set for future growth through pop-up galleries and Web3 events. CEO Jeremy Frommer highlighted plans for a special dividend to shareholders coinciding with OGCL's planned spin-off by Q1 2023, reinforcing the value of their archival assets. This initiative aims to unlock new revenue streams and storytelling opportunities.
Creatd, Inc. (OTCQB: CRTD) announced its upcoming dual listing on Upstream, a trading platform for digital securities and NFTs, starting February 14, 2023, at 10:00am ET. This dual listing aims to access a digital-first investor base while enhancing liquidity and price discovery through trading options including USDC, credit, debit, and PayPal. Management plans to transfer securities to Upstream to boost liquidity and restrict short-selling practices. Additionally, the company intends to offer some shares on the Blockchain, further globalizing investor access. CEO Jeremy Frommer emphasized a focus on long-term value for shareholders and a higher quality market environment.
Creatd (OTC-PINK: CRTD) reported record preliminary gross revenues of $10 million for fiscal year 2022, reflecting a 40% year-over-year increase, despite significant operational challenges. The company has improved its balance sheet, reducing operational expenses by 55% year-over-year and cutting workforce by 60%. Key initiatives include plans to spin-off its media asset library and Web 3.0 business, OG Collection, Inc., targeting a dual-listing within 90 days. Creatd is also investigating potential illegal trading activities and enhancing its workforce with key management appointments to support growth.
Creatd, Inc. (OTCQB: CRTD) has extended its no-shop period with Global Tech Industries Group, Inc. (OTCQB: GTII) regarding a proposed acquisition, allowing more time for due diligence. The companies are evaluating a collar structure potentially valuing CRTD shares at
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