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Creatd, Inc. (OTC-PINK:VOCL) announced record gross revenues of $10 million for FY 2022, marking a 47% increase from $6.6 million in FY 2021. GAAP revenues rose to $4.8 million (up 12% year-over-year). The company forecasts over $5 million in GAAP revenues for FY 2023. Notably, operating expenses decreased significantly in 2022, with a near 50% reduction already seen in Q1 2023. The net loss improved to $33 million from $43 million, reflecting ongoing financial stability efforts. Moving forward, Creatd plans to divide into three separate entities, preparing for an uplist to the NYSE as part of its strategic restructuring.
Creatd, Inc. ($CRTD) has received approval from FINRA to change its ticker symbol to $VOCL, effective April 3, 2023. CEO Jeremy Frommer announced plans to split the company into three separate publicly traded entities, enhancing its focus on empowering creators. The first spin-off, OG Collection Inc., will file an S-1 to distribute shares as a special dividend to $VOCL shareholders. Additionally, Creatd Ventures, featuring the best-selling product Basis, is set to have its own ticker and CUSIP. These strategic moves aim to broaden shareholder base and combat short selling while representing the company’s mission more accurately.