NEW YORK, Nov. 11, 2022 /PRNewswire/ -- Creatd, Inc. (OTCQB: CRTD) ("Creatd" or the "Company"), a creator-first technology company, today is announcing its upcoming 2022 Annual Meeting of Stockholders (the "Annual Meeting"), to be held on January 9, 2023.
Shareholders of record as of the close of business on November 18, 2022, are entitled to notice of, and to vote at, the Annual Meeting and at any adjournment thereof.
Commented Chairman and CEO, Jeremy Frommer, "With the support of our shareholders we will take the next step forward in a plan to re-list on a national exchange. We have been down this path before. It is not new territory. We are better prepared, with a stronger and leaner business model, a reconstituted board, and a renewed commitment to the success of the company. As we continue to lower cash burn, including a 50% reduction in full-time staff, we expect revenues to remain stable."
Continued Frommer, "Gross revenue projections for fiscal year 2022 are between $7 - 10MM, with net revenue projections of between $5.2 - 5.6MM, up from $4.3MM the previous year. Over the past few quarters, we have made significant strides in lowering our customer acquisition cost across all of our product and service offerings. Our management team is confident that we can resume the same level of growth in fiscal year 2023 that we experienced throughout the earlier part of this year, and currently projects $15 - 20MM in gross revenues and net revenues between $8 - 12MM for FY23. This projected number could rise significantly, depending on the success of our planned acquisition strategy for the upcoming year. As we have said since the founding of the company, our intention is to generate long-term value for our shareholders as we build a world-class, creator-first technology company. We continue to operate with that north star metric every day."
In addition to voting on the proposals to be outlined in the definitive Proxy Statement, including an increase in authorized share count, the Annual Meeting will include a virtual presentation and Q&A with Creatd's management team. Details regarding voting procedures and registering to attend the virtual meeting will be made available shortly.
Creatd, Inc. (OTCQB: CRTD) is a company with a mission to provide economic opportunities to creators and brands by multiplying the impact of platforms, people, and technology. Creatd's pillars work together to create a flywheel effect, supporting our core vision of creating a viable and safe ecosystem for all stakeholders in the creator economy.
Creatd IR: https://investors.creatd.com;
Vocal Platform: https://vocal.media;
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SOURCE Creatd, Inc.
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