Published on July 05, 2024
Creatd, Inc. (OTC: $CRTD) (“The Company”) is pleased to announce a substantial improvement in its financial health. The Company has further reduced its convertible notes from $5.4 million at the end of 2023 to $1.4 million currently, marking a near 75% reduction. This achievement with the most recent reduction completed yesterday underscores the Company’s commitment to bolstering its balance sheet and ensuring long-term sustainability.
In recent months, Creatd has implemented strategic initiatives aimed at reducing debt and enhancing operational efficiency. As highlighted in previous press releases:
Jeremy Frommer, CEO of Creatd, Inc., stated, "We are relentlessly pursuing our corporate strategy, and in the end, we will persevere against the rigged financial markets. This battle goes well beyond $CRTD. An entire marketplace is being systematically destroyed by institutionalized thievery in market-making algorithms. The builders of these algorithms did not intend for them to be used this way. They are being used for destruction, not democratization. I believe this is bigger than just one company. $CRTD is at the tip of the spear."
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.