Published on November 07, 2024
The previous version of this press release contained typographical errors. The corrected version is provided below.
Creatd, Inc. (OTC: CRTD) ("Creatd" or "the Company") today announced key updates on its Q3 2024 financials, 2023 full year PCAOB audit, strategic business deals, and its plan to regain uplisting status on the OTCQB market.
The Company confirmed that its Q3 2024 financial results will be filed on time on the OTC platform on November 14, 2024. Additionally, the 2023 10-K is expected to be filed the following week. Creatd also intends on filing an S-1 registration statement to facilitate its uplisting to the OTCQB market, targeting submission later this month.
Commenting on these advancements, Creatd CEO and founder Jeremy Frommer stated, “All of this has been made achievable by a great group of investors, both in the public and private markets, who have enabled us to finance this arduous process—caused by an inept audit firm that we had to terminate. This problem is systemic and must be addressed by emerging growth companies and regulatory bodies. As part of my role in CEOBLOC, as an activist, I am committed to pursuing meaningful regulatory change.”
On the business development front, Creatd has signed two letters of intent (LOIs) for strategic acquisitions and is actively negotiating three additional LOIs. The Company has also completed two cross-holding exchanges with publicly traded entities. Creatd anticipates closing three of these five LOIs before the end of the year, which is projected to generate $10 million in additional revenue for FY 2025 and $2 million in EBITDA. In addition, the Company is targeting an additional $100M in revenues acquired in FY 2025, and $500M over the following three years.
Frommer further emphasized the Company’s strategic vision, stating, “Our mission is to identify and invest in undervalued private and public companies, leveraging our resources and tradable equity to maximize their potential and strengthen their balance sheets. This is our core mission, and we are excited to execute on these opportunities and build long-term shareholder value.”
Creatd remains committed to navigating the regulatory landscape and executing its strategic growth initiatives, while continuing to advocate for change that supports emerging growth companies.
Forward Looking Statements
Any statements that are not historical facts and that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, indicated through the use of words or phrases such as “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimated,” “intends,” “plans,” “believes” and “projects”) may be forward-looking and may involve estimates and uncertainties which could cause actual results to differ materially from those expressed in the forward-looking statements. We caution that the factors described herein could cause actual results to differ materially from those expressed in any forward-looking statements we make and that investors should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. New factors emerge from time to time, and it is not possible for us to predict all of such factors. Further, we cannot assess the impact of each such factor on our results of operations or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. This press release is qualified in its entirety by the cautionary statements and risk factor disclosure contained in our Securities and Exchange Commission filings.