FORT LEE, N.J., Aug. 13, 2021 /PRNewswire/ -- Creatd, Inc.
(Nasdaq CM: CRTD) ("Creatd" or the "Company"), the parent company
of Vocal, today reported financial results for the three- and
six-month periods ended June 30,
2021.
Commenting on the Company's second quarter results, Creatd's
founder and CEO, Jeremy Frommer,
stated, "I view this quarter as the culmination of an important
first phase in our corporate history. As we have delivered positive
sequential revenue growth in eight of the last nine quarters and
are now at the $1 million quarterly
revenue level, we have fully transitioned from the start-up phase
into the commercialization and growth acceleration phase. We
currently project revenues of between $1.4 and $1.6
million for the third quarter, and between $1.8 and $2 million
for the fourth quarter, which brings our expected revenues for
fiscal year 2021 to a little over $5
million, within our guidance range. We expect to, at
minimum, double that in fiscal year 2022."
Mr. Frommer continued, "Our balance sheet has never been
stronger. Our debt is modest and highly manageable, and we have a
healthy cash level, with over $5
million in available working capital, consisting of cash and
prepayment of third quarter product development costs. We expect to
allocate a total of only $350,000 in
cash toward completing the acquisitions of Dune Glow Remedy and
Wobble Wedge. This number represents less than 7% of our current
cash level."
"Over the last five years, our team has designed, developed, and
completed the core technology of our robust platform supporting a
network of creators, who have come to rely on Vocal for the
visibility and numerous monetization opportunities that it
provides. Of the more than 1.1 million Vocal creators, 30,000
have already opted to join Vocal+, the premium membership program
offering value-additive features. More recently, Vocal has started
to move into a new echelon of engagement, sitting alongside
premiere platforms like Patreon, Medium, Substack, and a number of
other creator-oriented communities. Vocal's digital reach totals
over 150 million, with between 10 and 15 million visitors monthly,
and an average time on site of nearly five minutes, which bests our
primary competitors by over 50%."
As Vocal has decidedly grown, so too have our relationships with
our clients, who find great value in our platform to drive brand
awareness and product conversions. The commercialization of Creatd
Partners, which houses our agency businesses, was further enhanced
by our acquisition of WHE Agency during the third quarter and is
projected to continue to yield a consistent, sequentially growing
revenue stream. Additionally, the introduction of Creatd
Ventures, our e-commerce pillar, provides the foundation for what
we expect to be a significant revenue driver for fiscal year
2022."
"One of the keys to Creatd's future lies in an acquisition
strategy that is highly synergistic to our core revenue
streams of Vocal+ memberships, our agency businesses, and most
recently, e-commerce. What each acquisition candidate has in common
is that they have achieved a revenue plateau that would require
significant investment in infrastructure to achieve and support
their next level of growth. Utilizing Creatd's network,
infrastructure, systems, and distribution capabilities enables our
acquired companies to accelerate their revenues quickly,
efficiently, and at minimal cost, while simultaneously accelerating
Creatd's own growth and validating the multifunctional capability
of our platform. I highly recommend reviewing our newly released Q3
2021 investor presentation, which dives deeper into these concepts
and provides crucial insight into Creatd's portfolio and how our
team functions."
Second Quarter and First Half 2021 Financial
Highlights:
- Revenue: Second quarter gross revenues totaled
$1 million, before adjustments for
reward payments made to Vocal+ subscribers, which includes money
earned through 'reads' on members' stories and Challenge rewards.
Net revenue for second quarter increased 201% to $971,000, as compared to second quarter 2020 net
revenues of $323,000, and increased
31% as compared to first quarter 2021 net revenues of $744,000. The increase in second quarter revenues
is greatly attributable to the steady growth of Vocal+ memberships,
as well as growth in the Company's agency businesses, which
accounted for approximately 50% of net revenues during the quarter.
Going forward, as both Vocal+ memberships and agency revenues are
projected to continue to grow, the Company expects its acquisition
initiative to begin to contribute meaningfully to revenue in
upcoming quarters. For the first six months of 2021, gross revenues
totaled $1.8 million and net revenues
totaled $1.7 million, an increase of
179% over the prior year's six-month period.
- Operating Expenses: Second quarter 2021 operating
expenses totaled $9.4 million
compared to the previous year's second quarter operating expenses
of $3.9 million and first quarter
2021 operating expenses of $6.7
million. The quarter's increase reflects the following:
- an increase in compensation due
to a rise in headcount, including the addition of corporate
officer positions, as well as new hires to support the Company's
growing agency businesses, business intelligence, Vocal moderation,
and financial and accounting staff.
- a $3.8 million increase in
year-over-year marketing expenditures, and a $2.2 million increase as compared to the first
quarter 2021. The increase was required to complete the launch of
the Company's first marketing campaign implemented during the first
half of 2021. Going forward, the Company's quarterly marketing
budget is expected to decrease by $1.5
million to approximately $2.7
million. The Company expects platform-related revenues to
exceed marketing spend in fiscal year 2022, effectively
demonstrating the ability to operate at cash flow break-even;
- a $338,000 increase as compared to
the second quarter 2020, and a $1.1
million increase as compared to the first quarter 2021, in
non-cash charges related to stock-based compensation to employees
and consultants, and incentive-based options issued to employees;
and
- approximately $400,000 in
professional services predominantly related to the closing of a
financing and related SEC filings.
- Comprehensive Loss: Comprehensive loss for the second
quarter 2021 totaled $(8.6) million,
or $(0.81) per share, and included
total interest expense of $61,000 and
several non-recurring, non-cash charges totaling $121,000 related primarily to the elimination of
debt during the quarter. While this reflects a $4.4 million increase in comprehensive loss, the
Company showed a 38% improvement on a per-share level, with a basic
and diluted loss per share of $(0.81), compared to a $(1.30) loss per share in the second quarter of
last year.
For the first six months of 2021, comprehensive loss totaled
$(15.2) million, or $(1.49) per basic and diluted share, compared to
a comprehensive loss of $(7.2)
million, or $(2.28) per basic
and diluted share in the prior year's six-month period. As of
today, there are 13,848,000 shares outstanding.
- Total Assets: On June 30,
2021, total assets were consistent with the prior first
quarter, increasing marginally by approximately $169,000 to $6.6
million. Cash, accounts receivable, and prepaid expenses
totaled $3.3 million, a decrease of
$223,000 from the prior first
quarter. Subsequent to quarter end, during July 2021, the Company received cash proceeds of
approximately $4.2 million from the
exercise of warrants at a price of $4.50.
- Total Liabilities: The Company's total liabilities
increased by approximately $2.6
million during the second quarter to $7.1 million, due primarily to the Company's
mid-quarter private placement of long-term notes convertible into
shares of common stock at $5.00 per
share, as well as an increase in current liabilities of
approximately $570,000. On
June 30, 2021, the Company's
short-term debt consisted of $67,000
in convertible notes, which converted into shares of common stock
just after the close of the quarter, and $1.1 million in notes payable, of which
$282,000 is a Government Payroll
Protection Program ("PPP") loan that carries 1% annual interest and
$660,000 is related to the
acquisition of Seller's Choice. The Company's non-current debt
consists of convertible notes totaling $2.1
million, net of debt discount and issuance costs, of which
approximately 75% converted during July
2021. The Company is approaching debt-free status as its
remaining debt totals approximately $1.68
million.
- Capitalization: As of June 30,
2021, Creatd had 11.9 million shares of common stock
outstanding, an increase of approximately 1 million shares as
compared to the prior first quarter, predominantly due to the
June 2021 public offering of common
stock totaling 837,000 shares inclusive of exercised
over-allotment. The remaining increase is attributable to a note
conversion and the exercise of warrants. The Company's fully
diluted shares increased by approximately 3.7 million during the
second quarter, predominantly due to the two financings which
occurred during the quarter. Creatd's fully diluted shares total
22.9 million, which includes 250,000 shares underlying Preferred
Series E shares, 933,000 shares underlying convertible debt, 2.35
million shares underlying options (with an average strike price
$7.82), and 7.6 million shares
underlying warrants.
Subsequent to quarter-end, approximately 1 million warrants were
exercised, generating $4.2 million in
additional capital to Creatd. Currently, there are approximately
6.56 million warrants remaining with an average strike price of
$4.88. Additionally, $3.5 million of debt was converted into the
Company's common stock at $5.00 per
share as well as the conversion of Series E Preferred shares into
144,000 common shares. As of today the Company has 13.8 million
shares outstanding and a fully diluted share count of 22.9
million.
Second Quarter 2021 Operational Highlights
- Public Offering of Common Shares: On June 21, 2021, Creatd announced the closing of
its public offering of 750,000 shares of its common stock at an
offering price of $3.40 per share.
This offering is the Company's first pursuant to a "shelf"
registration statement on Form S-3 (File No. 333-250982) that went
effective on April 23, 2021, granting
the Company the ability to raise up to a total of $50 million in aggregate proceeds.
- Private Placement: On May 14,
2021, Creatd closed on a private placement of $4.7 million in principal value of convertible
notes with three institutional investors. The notes are convertible
into shares of Creatd's common stock at $5.00 per share and come with, in aggregate,
1,090,908 warrants, exercisable at $4.50 per share. Subsequent to quarter-end,
$3.5 million of the notes converted
into Creatd common shares at $5.00
per share.
- Community Launches: During the second quarter, Vocal
launched four additional owned and operated niche communities,
namely: "Confessions," "Earth," "Pride," and the highly popular
"Fiction." The Company plans to continue to launch new communities
on Vocal to accommodate the diversified interests and needs of its
expanding creator community.
- New Vocal Platform Features:The Vocal Ambassador Program
is the platform's first referral feature, which is designed to help
the Company achieve its ambition of reaching 100,000 premium
subscribers by year-end 2021. Participants of Vocal's Ambassador
Program receive a unique link and are rewarded with direct payments
to their Vocal Wallet each time they successfully refer someone who
then upgrades to a Vocal+ premium subscription. The over 1 million
Vocal creators can now participate in the Vocal Ambassador Program
and be rewarded for helping to drive Vocal+ subscriptions.
On August 9, 2021, Creatd announced
the release of one of the most requested features, 'Subscribe,'
which allows the reader to follow particular creators and view
their published stories in one convenient place. A "subscribe to
creator" button unlocks the ability for an individual creator to
build a community around their content and monetize more directly
from their individualized community. This new feature also provides
a new revenue stream for Creatd–a platform processing fee on the
recurring monthly transactions. Subscribe is the first of a series
of product enhancements designed to foster a more personalized
Vocal experience, allowing users to curate their feeds with the
stories and creators they want to read most. The Company expects to
release a paid offering for Vocal+ members, enabling these creators
to offer gated premium content to their fans and audience, along
with the means to converse on-platform with them.
- Acquisitions: Second quarter saw the launch of the
Company's acquisition strategy to acquire controlling interest in
growth businesses utilizing a combination of stock and cash.
Acquisition targets are expected to be housed in either Creatd
Partners (agency business) or Creatd Ventures (e-commerce
business).
Agency Business Acquisitions (Creatd Partners):
WHE Agency ("WHE") is a talent management and
public relations agency focused on representing and managing
influencers and creators within the parenting, family, and
lifestyle categories. WHE manages a talent roster includes
over 55 digital influencers with a combined audience of over 50
million followers and growing, who work with brands ranging from
Proctor and Gamble, Mattel, Audible, and HelloFresh.
- Synergies: WHE's expertise in navigating influencer
partnerships can be leveraged to provide additional opportunities
to Vocal's talented creators. Additionally, WHE's influencer talent
will benefit from utilizing Vocal's distribution framework as well
as having access to capital and resources to leverage their
personal brands for new opportunities.
- Terms: 55% controlling interest in WHE in exchange for
$275,000 in cash and $660,000 in Creatd stock. WHE's co-founder
Tracy Willis has joined Creatd as
CEO of WHE. WHE is expected to generate net revenues of
$1.2 to 1.5 million over the next 12
months, from gross sales of over $6.5
million.
- Closing: Acquisition completed subsequent to quarter-end, on
July 20, 2021.
e-Commerce Acquisitions (Creatd Ventures):
Dune Glow Remedy ("Dune"), a direct-to-consumer brand
focused on promoting wellness through its range of health-oriented
beverages. First products launched in the functional beverage
space: Beauty. According to Bloomberg, the functional beverage
market has increased 360% since last year, versus a 9% increase for
the rest of the beverage market.
- Synergies: Dune will receive direct access to Creatd's
resources, technology, and marketing expertise, enabling it to
materially grow revenues in a cost-efficient, timely, and scalable
manner.
- Terms: 50.4% majority ownership in exchange for a combination
of cash and stock. Upon closing, Dune's founder is expected to join
Creatd's team. Additionally upon closing, Creatd will consolidate
financials, which are expected to be immediately accretive to
Creatd's earnings. Dune is projected to generate net revenues
between $500,000 and $1 million over the next 12 months.
- Closing: Memorandum of Understanding announced August 2, 2021, with transaction close
anticipated during fourth quarter 2021.
Wobble Wedge®, is a multi-patented interlocking
modular system of tapered shims that are adaptable to hundreds of
uses. The product, which is sold both direct-to-consumer and
through wholesale channels, has become a staple tool for a wide
range of users including homeowners, craftspeople, hobbyists,
restaurant owners, and plumbers.
- Synergies: Wobble Wedge believes that joining Creatd, and
leveraging Vocal's ability to effectively market new products, will
significantly expand its revenue potential.
- Terms: Creatd intends to acquire a 55% equity stake in Wobble
Wedge, in exchange for a combination of cash and stock. Wobble
Wedge's management is expected to join Creatd following the close.
Additionally, upon closing, Creatd will consolidate financials,
which are expected to be immediately accretive to Creatd's
earnings, with projections of $1.5 to
$1.7 million in net revenues over the
next 12 months.
- Closing: Memorandum of Understanding announced July 29, 2021, with closing anticipated during
fourth quarter 2021.
Camp (previously Plant Camp) is a healthy,
kid-friendly food company that launched its first product, a
nutrient-rich mac and cheese, just over one year
ago. Additional product launches are anticipated during fourth
quarter 2021, including a nutrient-rich, kid-friendly pancake
mix.
- Synergies: Camp benefits from the ability to leverage the rich
pool of first-party behavioral data that Vocal has cultivated
through its network of over 1 million registered creators.
Conversely, Creatd demonstrates that it is able to support and
accelerate revenues of its very first investment, despite less than
optimum early performance.
- Terms: Creatd purchased an additional 56% of the membership
interests in Plant Camp, LLC for a combination of cash and stock,
bringing its total ownership to 89%. Created consolidated Camp's
financials into our Q2 2021 reporting. This consolidation is
expected to be accretive to Creatd's earnings going forward, with
net revenue projections of between $500,000 and $1
million over the next 12 months.
- Closing: Acquisition completed on June
4, 2021.
- Untamed Photographer: In April
2021, Creatd announced a minority investment in Untamed
Photographer, an online marketplace platform for wildlife
photography. In conjunction with the Untamed Photographer launch,
the Company additionally announced plans to tokenize the Untamed
Photographer library, allowing its photographers and the causes
they support to further monetize their unique photographs within
the emerging NFT market.
As Creatd has fine-tuned its investment strategy, going forward it
plans to focus investments on controlling stake acquisitions.
- OG Gallery: Acquired by Creatd's founders, the OG
Collection is an extensive library of original artwork and imagery
from the archives of some of the most iconic magazines of the 20th
century. On April 29,
2021, Creatd announced an update on its plans to launch
the "OG Gallery", the Company's exploratory initiative aimed at
identifying opportunities to co-develop an online NFT marketplace
where it could offer a selection of its own digital media assets as
well as partner with other media libraries seeking to do the same.
The Company is currently in discussions with partners and expects
to begin development of its online NFT marketplace in the fourth
quarter.
- Key Leadership Hires:
- Celebrated author
Erica Wagner joins Creatd as Lead
Editorial Innovator: Ms. Wagner was literary editor of
The Times for 17 years and is now a contributing writer for
the New Statesman and consulting literary editor for
Harper's Bazaar. In addition, she writes for The
New York Times, The
Economist, and the Guardian as well as teaches at
Goldsmiths College in London. At
Creatd, Ms. Wagner will principally be focused on developing
Vocal's impact in the literary world and beyond to include
systematizing the selection process by which creator published
stories, as well as Creatd's intellectual property, can be
leveraged for future transmedia production projects.
- 30-year finance veteran
Rich Vinchesi appointed as Lead
Acquisition Strategist: Mr. Vinchesi launched his career
as an investment banker at Salomon Brothers and subsequently held
executive roles for several growth companies prior to starting his
consulting firm. Mr. Vinchesi's focus has been on technology
companies, particularly e-commerce, CPG, and SaaS businesses, where
his expertise in devising scalable business models, negotiating
strategic partnerships, building-out operations, executing
acquisitions, mergers and business sales, as well as early stage
fund raising, has been invaluable to the success of numerous
early-stage companies. Mr. Vinchesi received a B.S. from the Stern
School of Business at New York
University and holds an MBA from the J.L. Kellogg School of
Management at Northwestern University.
In his work with Creatd Partners, Mr. Vinchesi helps to steer deal
origination activities, as well as the Company's execution of new
venture initiatives currently in development.
- WHE Co-Founder Tracy Willis joins Creatd as CEO of WHE. Ms.
Willis is a 15-year veteran in public relations and talent
representation, including Vice President at Gushcloud Talent
Agency, where she oversaw all digital creator talent. Ms.
Willis went on to establish the WHE Agency, where she continues to
represent and connect top digital influencers with leading brands
and global audiences. Upon Creatd's acquisition of a controlling
stake in WHE, Ms. Willis assumed the role of CEO, overseeing all
daily operations and directing all talent and related brand
opportunities, reporting directly to Creatd's CEO, Jeremy Frommer.
About Creatd
Creatd, Inc. (Nasdaq CM: CRTD) is a
creator-first technology company and the parent company of the
Vocal platform. Our mission is to empower creators, entrepreneurs,
and brands through technology and partnership. We accomplish this
through Creatd's four business pillars: Creatd Labs, Creatd
Partners, Creatd Ventures, and Creatd Studios.
For news and updates, subscribe to Creatd's
newsletter: https://creatd.com/newsletter
Q3 2021 Investor
Presentation: https://creatd.docsend.com/view/qwxasmy5983dfk2v
Investor Relations Contact: ir@creatd.com
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.
*** Financial Statements
Follow ***
Creatd, Inc.
Condensed Consolidated Balance Sheet
|
|
|
June 30,
2021
|
|
December 31,
2020
|
Assets
|
(Unaudited)
|
|
|
Current
Assets
|
|
|
|
Cash
|
$
2,124,656
|
|
$
7,906,782
|
Account
receivable, net
|
284,419
|
|
90,355
|
Prepaid expenses and other current assets
|
888,788
|
|
23,856
|
Total Current
Assets
|
3,297,863
|
|
8,020,993
|
|
|
|
|
Property and equipment, net
|
60,412
|
|
56,258
|
Intangible assets
|
1,493,864
|
|
960,611
|
Goodwill
|
1,037,992
|
|
1,035,795
|
Deposits and other assets
|
148,450
|
|
191,836
|
Marketable securities
|
-
|
|
62,733
|
Minority investment in business
|
367,096
|
|
217,096
|
Operating lease
right of use asset
|
199,441
|
|
239,158
|
Total
Assets
|
$
6,605,118
|
|
$
10,784,480
|
|
|
|
|
Liabilities and
Stockholders' Equity (Deficit)
|
|
|
|
Current
Liabilities
|
|
|
|
Accounts payable and accrued liabilities
|
$
2,952,353
|
|
$
2,638,688
|
Derivative liabilities
|
436,295
|
|
42,231
|
Convertible Notes, net of debt discount and issuance
costs
|
67,048
|
|
897,516
|
Current portion of operating lease payable
|
95,579
|
|
79,816
|
Notes payable – related party, net of debt discount
|
7,890
|
|
-
|
Notes payable, net of debt discount and issuance costs
|
1,054,600
|
|
1,221,539
|
Deferred revenue
|
208,517
|
|
88,637
|
Total Current
Liabilities
|
4,822,282
|
|
4,968,427
|
|
|
|
|
Non-current
Liabilities:
|
|
|
|
Note
payable
|
34,036
|
|
213,037
|
Convertible Notes, net
of debt discount and issuance costs
|
2,099,400
|
|
|
Operating lease
payable
|
102,231
|
|
157,820
|
|
|
|
|
Total Non-current Liabilities
|
2,235,667
|
|
370,857
|
Total
Liabilities
|
7,057,949
|
|
5,339,284
|
Commitments and contingencies
|
|
|
|
Stockholders' Equity (Deficit)
|
|
|
|
Series E Preferred
stock, $0.001 par value, 20,000,000 shares authorized
|
1
|
|
8
|
1,088 and 7,738
shares issued and outstanding, respectively
|
|
|
|
Common stock, $0.001:
100,000,000 authorized shares
|
|
|
|
11,857,675 issued and 11,852,018 outstanding as of June 30, 2021
and
|
|
|
|
8,736,378 issued and 8,727,028 outstanding at December 31,
2020
|
11,858
|
|
8,737
|
Additional paid-in capital
|
87,131,333
|
|
77,505,013
|
Subscription receivable
|
-
|
|
(40,000)
|
Less: Treasury stock, 5,657 and 5,657,
respectively
|
(62,406)
|
|
(62,406)
|
Accumulated deficit
|
(87,544,953)
|
|
(71,928,922)
|
Accumulated other comprehensive income
|
(45,097)
|
|
(37,234)
|
Total Creatd, Inc. Stockholders' Equity
(Deficit)
|
(509,264)
|
|
5,445,196
|
Non-controlling interest in consolidated subsidiary
|
56,433
|
|
-
|
Total Liabilities
and Stockholders' Equity (Deficit)
|
$
6,605,118
|
|
$
10,784,480
|
Creatd,
Inc. Condensed Consolidated Statements of
Operations (unaudited)
|
|
|
|
Three Months
ended
June
30,
|
Six Months
ended
June
30
|
|
|
2021
|
|
2020
|
|
2021
|
|
2020
|
|
|
|
|
|
|
|
|
|
Net
Revenue
|
|
$
970,857
|
|
$
322,540
|
|
$
1,714,770
|
|
$
615,682
|
Gross
margin
|
|
970,857
|
|
322,540
|
|
1,714,770
|
|
615,682
|
|
|
|
|
|
|
|
|
|
Operating
expenses
|
|
|
|
|
|
|
|
|
Research
and development
|
|
56,598
|
|
35,705
|
|
385,450
|
|
171,275
|
Marketing
|
|
4,194,524
|
|
422,733
|
|
6,237,179
|
|
855,564
|
Stock
based companies
|
|
1,940,250
|
|
1,602,649
|
|
3,510,489
|
|
1,994,792
|
General
and administrative
|
|
3,160,280
|
|
1,796,705
|
|
5,908,444
|
|
2,955,252
|
Total
operating expenses
|
|
9,351,652
|
|
3,857,792
|
|
16,041,562
|
|
5,976,883
|
|
|
|
|
|
|
|
|
|
Loss
from operations
|
|
(8,380,795)
|
|
(3,535,252)
|
|
(14,326,792)
|
|
(5,361,201)
|
|
|
|
|
|
|
|
|
|
Other income
(expenses)
|
|
|
|
|
|
|
|
|
Other
income
|
|
-
|
|
14,229
|
|
-
|
|
77,785
|
Interest
expense
|
|
(60,760)
|
|
(491,206)
|
|
(259,431)
|
|
(866,736)
|
Accretion of debt discount and issuance cost
|
|
(354,199)
|
|
(140,274)
|
|
(851,364)
|
|
(327,221)
|
Derivative expense
|
|
-
|
|
-
|
|
(100,502)
|
|
-
|
Change
in derivative liability
|
|
(65,442)
|
|
-
|
|
(262,831)
|
|
-
|
Impairment of investment
|
|
(62,733)
|
|
-
|
|
(62,733)
|
|
-
|
Settlement of vendor liabilities
|
|
-
|
|
-
|
|
92,909
|
|
(126,087)
|
Gain on
marketable securities
|
|
-
|
|
10,042
|
|
-
|
|
10,042
|
Loss on
extinguishment of debt
|
|
82,431
|
|
470
|
|
286,009
|
|
(534,570)
|
Gain on
Forgiveness of debt
|
|
279,022
|
|
-
|
|
279,022
|
|
-
|
Other
income (expenses), net
|
|
(181,681)
|
|
(606,739)
|
|
(878,921)
|
|
(1,766,787)
|
|
|
|
|
|
|
|
|
|
Loss before income
tax provision
|
|
(8,562,476)
|
|
(4,141,991)
|
|
(15,205,713)
|
|
(7,127,988)
|
|
|
|
|
|
|
|
|
|
Income tax
provision
|
|
-
|
|
-
|
|
-
|
|
-
|
|
|
|
|
|
|
|
|
|
Net
loss
|
|
$(8,562,476)
|
|
$(4,141,991)
|
|
$(15,205,713)
|
|
$(7,127,988)
|
Non-controlling
interest in consolidated subsidiary
|
|
432
|
|
|
|
432
|
|
|
Net Income (loss)
attributable to Creatd, Inc.
|
|
(8,562,044)
|
|
(4,141,991)
|
|
(15,205,281)
|
|
(7,127,988)
|
|
|
|
|
|
|
|
|
|
Deemed
dividend
|
|
(410,750)
|
|
-
|
|
(410,750)
|
|
-
|
Net loss attributable
to common shareholders
|
|
(8,9,72,794)
|
|
(4,141,991)
|
|
(15,616,031)
|
|
(7,127,988)
|
Comprehensive
loss
|
|
|
|
|
|
|
|
|
Net
loss
|
|
(8,562,476)
|
|
(4,141,991)
|
|
(15,205,713)
|
|
(7,127,988)
|
Currency translation gain (loss)
|
|
(552)
|
|
(19,291)
|
|
(7,863)
|
|
(28,530)
|
Credit loss
|
|
-
|
|
-
|
|
-
|
|
-
|
Comprehensive
loss
|
|
(8,563,028)
|
|
(4,161,282)
|
|
(15,213,576)
|
|
(7,156,518)
|
Per-share
data
|
|
|
|
|
|
|
|
|
Basic and diluted loss per share
|
|
$
(0.81)
|
|
$
(1.30)
|
|
$
(1.49)
|
|
$
(2.28)
|
Weighted average number of common shares outstanding
|
|
11,081,354
|
|
3,194,321
|
|
10,465,815
|
|
3,122,926
|
|
|
|
|
|
|
|
|
|
|
|
|
View original content to download
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SOURCE Creatd, Inc.