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Saturday, December 3, 2022

Creatd Inc (OTCMKTS: CRTD) Powerful Run Northbound as Underwater Short Position Running Out of Options

Creatd Inc (OTCMKTS: CRTD) has rocketed back up towards its recent highs over $1.70 after another failed short attack by Kramers and Lind Partners briefly below the $1 mark. CRTD used to trade over $10 per share on the Nasdaq before its delisting in September however there are indications CRTD Is heading right back to Nasdaq. Creatd is taking quick action against the massive short position here of an estimated 200 to 300 million shares by spinning off its media archive via a dividend as well as dual-listing onto the Blockchain Exchange #Upstream… where no short selling is allowed.  

Microcapdaily first gave the heads up on CRTD in our article on October 16 when CRTD was around $0.20 per share. On Monday Creatd announced preliminary financial results for the third quarter ended September 30, 2022, and the filing of Form NT 10-Q filed with the Securities and Exchange Commission (SEC). The Company expects to file its 10-Q for the third quarter of 2022 on Wednesday, November 16th. Creatd, Inc. Sees 38% YoY Increase in Nine-Month Net Revenues and Reaffirms Guidance of $8-12MM in FY2023 Revenues.

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Creatd Inc (OTCMKTS: CRTD) is a holding company that provides economic opportunities for creators through technology and partnership. Each one of Creatd’s companies shares a common mission: To build technologies, develop partnerships, and unlock opportunities that help creators, brands, and entrepreneurs grow creatively, sustainably, and profitably. 

  • Creatd Labs houses our proprietary technology, content creation framework, and digital communities. 
  • Creatd Partners fosters relationships between brands and creators through agency services. 
  • Creatd Ventures builds, develops, and scales our e-commerce brands. 
  • Creatd Studios elevates our creators stories into TV, film, books, podcasts, video, and more. 

Since its initial launch in 2016, Vocal has grown to be one of the fastest growing communities for content creators of all shapes and sizes. Creators can opt to use Vocal for free, or upgrade to Vocal+. Upon subscribing to Vocal, either as a freemium or premium member, creators can immediately begin to access the numerous monetization opportunities that Vocal facilitates. Specifically, Vocal creators can earn money i) every time their story is read, ii) by competing in Challenges, iii) by receiving Bonuses, iv) by collaborating on branded content campaigns through the company’s in-house agency, Vocal for Brands, v) through ‘Subscribe,’ which enables creators to receive payment directly from their audience via monthly subscriptions and one-off microtransactions. vi) through the Vocal Ambassador Program, which enables creators to receive additional rewards whenever they refer a new Vocal+ member.   

During October the Company rolled-out Vocal’s new Android app, which comes following the successful introduction of the Vocal mobile app on iOS during third quarter 2022. Vocal’s mobile app, which is now available on both Apple’s App Store and the Google Play Store, is designed for audiences to more effectively engage with the content and creators they know and love. Using the app, creators will benefit from accessing new Vocal+ premium resources and exclusive app-only features like Vocal Coins—a built-in payment system. Further, the app leverages Vocal’s existing “Subscribe” capabilities to optimize in-app content discovery and curation as well as personalization, which together generate a premiere and elevated reader experience. Users may download the Vocal app for Android on the Google Play Store, here.  

Recently Creatd began the application process to dual-list its shares on Upstream, the premier global exchange and trading app for digital securities and NFTs powered by Horizon Fintex and MERJ Exchange Limited (MERJ). The Company’s proposed listing on Upstream is expected to facilitate access to a global, digital-first investor base that can trade using USDC digital currency along with credit, debit, PayPal, and USD, unlocking liquidity and enhancing price discovery while globalizing the opportunity to invest in Creatd ahead of its anticipated application to re-list on a national exchange. Approval to be listed on Upstream is subject to approval by MERJ. 

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CRTD

On November 14 CRTD announced preliminary financial results for the third quarter ended September 30, 2022, and the filing of Form NT 10-Q filed with the Securities and Exchange Commission (SEC). The Company expects to file its 10-Q for the third quarter of 2022 on Wednesday, November 16th. Creatd, Inc. Sees 38% YoY Increase in Nine-Month Net Revenues and Reaffirms Guidance of $8-12MM in FY2023 Revenues 

Creatd Chairman & CEO Jeremy Frommer stated: “We currently project over $5MM in revenues for fiscal year 2022. Our improving EBITDA is an encouraging sign of our trajectory, as we continue to trend towards our fiscal year 2023 projections of $15-20MM in gross revenues, and $8-12MM in net revenues. This projected number could be considerably higher, depending on the activation of our planned acquisition strategy for the upcoming year.” 

THIRD QUARTER 2022 BUSINESS HIGHLIGHTS 

  • Gross Revenues: $2.9MM. 
  • Operating expenses for the third quarter, excluding certain one-time and non-cash charges, saw a 32% reduction YoY, decreasing from $5.6MM in Q3 2021 to $3.8MM in Q3 2022. 
  • EBITDA continues to improve, with a $2.3MM increase in Q3 2022 (-$5.6MM) as compared to the preceding quarter’s EBITDA (-$7.8MM). 
  • EBITDA for Q42022 is projected to increase by an additional $2-2.5MM, a further 40-50% increase QoQ. 
  • The company completed the roll-out of the new Vocal app for both iOS and Android. 
  • Following its acquisition of Orbit, the new social stock trading app, Creatd successfully completed development for its beta release. 
  • The Company completed its acquisition of healthy breakfast food brand, Brave, marking  the fourth addition to its CPG brand portfolio. 
  • Initiated fair value appraisal for the assets of OG Collection, Inc., the acclaimed media library owned and operated by the Company. 
  • Creatd continues to partner with leading brands including Equinox, Erewhon, Ollie, and Urban Outfitters. 

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Currently trading at a $33 million market valuation CRTD is an SEC filer with $1.5 million in the treasury and $10 million in assets vs $11 million in liabilities and we have been reporting on this one since it moved over $0.20 per share last month. Creatd is growing fast recently reporting Q3 revenues of $2.9 million. The Company expects to file its 10-Q for the third quarter of 2022 on Wednesday, November 16th. Creatd, Inc. Sees 38% YoY Increase in Nine-Month Net Revenues and Reaffirms Guidance of $8-12MM in FY2023 Revenues. There is an estimated short position of between 200 and 300 million shares short by groups such as the Kramers and Lind Partners of FNGR, GTII fame. However, it is becoming increasingly difficult to borrow and CRTD is afternoons run away from recent highs, a break over $1.70 per share and CRTD could really run on a blue-sky breakout. We will be updating on CRTD when more details emerge so make sure you are subscribed to Microcapdaily.

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Disclosure: we hold no position in CRTD either long or short and we have not been compensated for this article.

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