2023 Q4 Form 10-Q Financial Statement

#000121390023087187 Filed on November 15, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2023 Q2
Revenue $437.9K $699.4K
YoY Change -57.19% -56.99%
Cost Of Revenue $359.7K $437.6K
YoY Change -74.39% -75.61%
Gross Profit $78.16K $261.8K
YoY Change -120.47% -255.34%
Gross Profit Margin 17.85% 37.43%
Selling, General & Admin $719.0K $1.649M
YoY Change -83.97% -69.79%
% of Gross Profit 919.91% 630.06%
Research & Development $543.2K $46.30K
YoY Change 131.17% -79.38%
% of Gross Profit 694.98% 17.69%
Depreciation & Amortization $50.00K $60.00K
YoY Change 14.82% -57.76%
% of Gross Profit 63.98% 22.92%
Operating Expenses $2.001M $2.974M
YoY Change -64.24% -61.99%
Operating Profit -$1.923M -$2.713M
YoY Change -67.83% -66.06%
Interest Expense $473.5K $93.98K
YoY Change -29.72% 361.6%
% of Operating Profit
Other Income/Expense, Net -$480.0K -$1.710M
YoY Change -74.53% 166.8%
Pretax Income -$2.919M -$4.466M
YoY Change -69.36% -48.7%
Income Tax
% Of Pretax Income
Net Earnings -$2.919M -$4.450M
YoY Change -68.37% -46.62%
Net Earnings / Revenue -666.6% -636.35%
Basic Earnings Per Share -$0.09 -$0.12
Diluted Earnings Per Share -$0.09 -$0.12
COMMON SHARES
Basic Shares Outstanding 183.7M shares 117.5M shares 86.47M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q4 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.00K $100.0K
YoY Change -97.73% -93.77%
Cash & Equivalents $6.759K $104.2K
Short-Term Investments
Other Short-Term Assets $2.007M $2.210M
YoY Change -28.63% -45.47%
Inventory $112.4K $170.4K
Prepaid Expenses
Receivables $35.10K $67.57K
Other Receivables $0.00 $0.00
Total Short-Term Assets $363.7K $710.4K
YoY Change -78.36% -72.69%
LONG-TERM ASSETS
Property, Plant & Equipment $140.8K $179.3K
YoY Change -43.44% -28.56%
Goodwill $46.46K $46.46K
YoY Change -96.6% -96.64%
Intangibles $191.3K
YoY Change -92.43%
Long-Term Investments $300.0K $870.0K
YoY Change -61.0% -25.6%
Other Assets
YoY Change
Total Long-Term Assets $2.528M $3.218M
YoY Change -64.1% -57.25%
TOTAL ASSETS
Total Short-Term Assets $363.7K $710.4K
Total Long-Term Assets $2.528M $3.218M
Total Assets $2.892M $3.929M
YoY Change -66.85% -61.21%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $13.44M $12.60M
YoY Change 100.16% 157.19%
Accrued Expenses $250.0K $0.00
YoY Change -10.58% -100.0%
Deferred Revenue
YoY Change
Short-Term Debt $1.588M $1.474M
YoY Change -11.14% -22.22%
Long-Term Debt Due $1.588M $1.474M
YoY Change -79.7% -64.52%
Total Short-Term Liabilities $21.69M $20.73M
YoY Change 42.98% 118.31%
LONG-TERM LIABILITIES
Long-Term Debt $10.00K $0.00
YoY Change -65.42% -100.0%
Other Long-Term Liabilities $1.910M $2.240M
YoY Change -10.55% 6.63%
Total Long-Term Liabilities $1.919M $2.241M
YoY Change -11.33% 5.08%
TOTAL LIABILITIES
Total Short-Term Liabilities $21.69M $20.73M
Total Long-Term Liabilities $1.919M $2.241M
Total Liabilities $23.61M $22.97M
YoY Change 36.2% 97.55%
SHAREHOLDERS EQUITY
Retained Earnings -$190.5M -$179.0M
YoY Change 42.42% 43.99%
Common Stock $137.6K $103.0K
YoY Change 462.32% 408.66%
Preferred Stock
YoY Change
Treasury Stock (at cost) $78.46K
YoY Change 3.09%
Treasury Stock Shares
Shareholders Equity -$21.61M -$19.92M
YoY Change
Total Liabilities & Shareholders Equity $2.892M $3.929M
YoY Change -66.85% -61.21%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income -$2.919M -$4.450M
YoY Change -68.37% -46.62%
Depreciation, Depletion And Amortization $50.00K $60.00K
YoY Change 14.82% -57.76%
Cash From Operating Activities -$190.0K -$330.0K
YoY Change -94.13% -94.09%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change -100.0% -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities $0.00 $0.00
YoY Change -100.0% -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 90.00K 270.0K
YoY Change -96.06% -93.65%
NET CHANGE
Cash From Operating Activities -190.0K -330.0K
Cash From Investing Activities 0.000 0.000
Cash From Financing Activities 90.00K 270.0K
Net Change In Cash -100.0K -60.00K
YoY Change -90.75% -96.36%
FREE CASH FLOW
Cash From Operating Activities -$190.0K -$330.0K
Capital Expenditures $0.00 $0.00
Free Cash Flow -$190.0K -$330.0K
YoY Change -94.05% -93.79%

Facts In Submission

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 1 – Organization and Operations</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Creatd, Inc., formerly Jerrick Media Holdings, Inc. (“we,” “us,” the “Company,” or “Creatd”), is a technology company focused on providing economic opportunities for creators, which it accomplishes through its four main business pillars: Creatd Labs, Creatd Partners, Creatd Ventures, and Creatd Studios. Creatd’s flagship product, Vocal, delivers a robust long-form, digital publishing platform organized into highly engaged niche-communities capable of hosting all forms of rich media content. Through Creatd’s proprietary algorithm dynamics, Vocal enhances the visibility of content and maximizes viewership, providing advertisers access to target markets that most closely match their interests. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company was originally incorporated under the laws of the State of Nevada on December 30, 1999, under the name LILM, Inc. The Company changed its name on December 3, 2013, to Great Plains Holdings, Inc. as part of its plan to diversify its business.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On February 5, 2016 (the “Closing Date”), GTPH, GPH Merger Sub, Inc., a Nevada corporation and wholly-owned subsidiary of GTPH (“Merger Sub”), and Jerrick Ventures, Inc., a privately-held Nevada corporation headquartered in New Jersey (“Jerrick”), entered into an Agreement and Plan of Merger (the “Merger”) pursuant to which the Merger Sub was merged with and into Jerrick, with Jerrick surviving as a wholly-owned subsidiary of GTPH (the “Merger”). GTPH acquired, pursuant to the Merger, all of the outstanding capital stock of Jerrick in exchange for issuing Jerrick’s shareholders (the “Jerrick Shareholders”), pro-rata, a total of 475,000 shares of GTPH’s common stock. In connection therewith, GTPH acquired 33,415 shares of Jerrick’s Series A Convertible Preferred Stock (the “Jerrick Series A Preferred”) and 8,064 shares of Series B Convertible Preferred Stock (the “Jerrick Series B Preferred”).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with the Merger, on the Closing Date, GTPH and Kent Campbell entered into a Spin-Off Agreement (the “Spin-Off Agreement”), pursuant to which Mr. Campbell purchased from GTPH (i) all of GTPH’s interest in Ashland Holdings, LLC, a Florida limited liability company, and (ii) all of GTPH’s interest in Lil Marc, Inc., a Utah corporation, in exchange for the cancellation of 39,091 shares of GTPH’s Common Stock held by Mr. Campbell. In addition, Mr. Campbell assumed all debts, obligations and liabilities of GTPH, including any existing prior to the Merger, pursuant to the terms and conditions of the Spin-Off Agreement.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Upon closing of the Merger on February 5, 2016, the Company changed its business plan to that of Jerrick.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Effective February 28, 2016, GTPH entered into an Agreement and Plan of Merger (the “Statutory Merger Agreement”) with Jerrick, pursuant to which GTPH became the parent company of Jerrick Ventures, LLC, a wholly-owned operating subsidiary of Jerrick (the “Statutory Merger”) and GTPH changed its name to Jerrick Media Holdings, Inc. to better reflect its new business strategy.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 11, 2019, the Company acquired 100% of the membership interests of Seller’s Choice, LLC, a New Jersey limited liability company (“Seller’s Choice”), a digital e-commerce agency.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 9, 2020, the Company filed a certificate of amendment with the Secretary of State of the State of Nevada to change our name to “Creatd, Inc.”, which became effective on September 10, 2020.   </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On June 4, 2021, the Company acquired 89% of the membership interests of Plant Camp, LLC, a Delaware limited liability company (“Plant Camp”), which the Company subsequently rebranded as Camp. Camp is a direct-to-consumer (DTC) food brand which creates healthy upgrades to classic comfort food favorites. The results of Plant Camp’s operations have been included since the date of acquisition in the Statements of Operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On July 20, 2021, the Company acquired 44% of the membership interests of WHE Agency, Inc. WHE Agency, Inc, is a talent management and public relations agency based in New York (“WHE”).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On January 9, 2023, the Company acquired an additional 51% of the equity interest in WHE Agency, Inc. bringing our total ownership to 95%. WHE has been consolidated due to the Company’s ownership of 55% voting control, and the results of operations have been included since the date of acquisition in the Statements of Operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Between October 21, 2020, and August 16, 2021, the Company acquired 21% of the membership interests of Dune, Inc. Dune, Inc. is a direct-to-consumer brand focused on promoting wellness through its range of health-oriented beverages.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On October 3, 2021, the Company acquired an additional 29% of the membership interests of Dune, Inc., bringing our total membership interests to 50%. Dune, Inc., has been consolidated due to the Company’s ownership of 50% voting control, and the results of operations have been included since the date of acquisition in the Statements of Operations. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On January 25, 2023, the Company acquired an additional 23% equity interest in Dune, Inc. bringing our total ownership to 85%. Dune, Inc., has been consolidated due to the Company’s ownership of 50% voting control, and the results of operations have been included since the date of acquisition in the Statements of Operations. </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On March 7, 2022, the Company acquired 100% of the membership interests of Denver Bodega, LLC, d/b/a Basis, a Colorado limited liability company (“Basis”). Basis is a direct-to-consumer functional beverage brand that makes high-electrolyte mixes meant to aid hydration. Denver Bodega, LLC has been consolidated due to the Company’s ownership of 100% voting control, and the results of operations have been included since the date of acquisition in the Statement of Operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On August 1, 2022, the Company acquired 51% of the membership interests of Orbit Media LLC, a New York limited liability company. Orbit is an app-based stock trading platform designed to empower a new generation of investors.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On February 3, 2023, the Company acquired an additional 5% of the membership interests of Orbit Media, LLC., bringing our total membership interests to 56%. Orbit has been consolidated due to the Company’s ownership of 51% voting control, and the results of operations have been included since the date of acquisition in the Statement of Operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 13, 2022, the Company acquired 100% of the membership interests of Brave Foods, LLC, a Maine limited liability company. Brave is a plant-based food company that provides convenient and healthy breakfast food products. Brave Foods, LLC has been consolidated due to the Company’s ownership of 100% voting control, and the results of operations have been included since the date of acquisition in the Statement of Operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 13, 2022, an investor entered into a Subscription Agreement whereby it purchased from OG Collection, Inc., a subsidiary of the Company (“OG”), 150,000 shares of common stock of OG for a purchase price of $750,000, and, in connection therewith OG, the Company, and the Investor entered into a Shareholder Agreement.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">February 1, 2023, an investor entered into a Subscription Agreement whereby it purchased from OG Collection, Inc., a subsidiary of the Company (“OG”), 50,000 shares of common stock of OG for a purchase price of $250,000, and, in connection therewith OG, the Company, and the Investor entered into a Shareholder Agreement.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On May 30, 2023, the Company acquired an additional 15% equity interest in Dune, Inc. bringing our total ownership to 100%. Dune, Inc., has been consolidated due to the Company’s ownership of 50% voting control, and the results of operations have been included since the date of acquisition on October 3, 2021, in the Statements of Operations. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On June 30, 2023, the Company acquired an additional 10% of the membership interests of Plant Camp, LLC, bringing our total ownership to 100%. Plant Camp, LLC has been consolidated due to the Company’s ownership of 50% voting control, and the results of operations have been included since the date of acquisition on June 4, 2021, in the Statements of Operations. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On July 28, 2023, the Company acquired an additional 17.5% of the membership interests of Orbit Media, LLC., bringing our total membership interests to 74%. Orbit has been consolidated due to the Company’s ownership of 51% voting control, and the results of operations have been included since the date of acquisition in the Statement of Operations.</p>
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Vocal+ is a premium subscription offering for Vocal creators. In addition to joining for free, Vocal creators now have the option to sign up for a Vocal+ membership for either $9.99 monthly or $99 annually, though these amounts are subject to promotional discounts and free trials.
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crtd Products And Services Transferred Over Time
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CY2023Q3 crtd Shares Of Capital Stock
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753693 usd
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3767925 shares
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415000 usd
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420000 usd
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crtd Excise Tax On Net Repurchases Percentage
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0.01 pure
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P7Y
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1364 sqft
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181299 usd
crtd Lease Agreements Description
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On September 9, 2021, the Company signed a 1-year lease for approximately 3,200 square feet at 648 Broadway, Suite 200, New York, NY 10012. Monthly rent under the lease was $12,955 for the leasing period.
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P1Y
CY2021Q3 us-gaap Lease Cost
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12955 usd
crtd Stockholders Equity Requirement
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On September 2, 2022, the Company received a letter from the staff of The Nasdaq Capital Market notifying the Company that the Nasdaq Hearings Panel has determined to delist the Company’s common stock from the Exchange, based on the Company’s failure to comply with the listing requirements of Nasdaq Rule 5550(b)(1) as a result of the Company’s shareholder equity deficit for the period ended June 30, 2022, as demonstrated in Company’s Quarterly Report on Form 10-Q filed on August 15, 2022, following the Company having not complied with the market value of listed securities requirement in Nasdaq Rule 5550(b)(2) on March 1, 2022, while the Company was under a Panel Monitor, as had been previously disclosed.
CY2023Q3 us-gaap Temporary Equity Aggregate Amount Of Redemption Requirement
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475000 usd
crtd Schedule Of Excess Purchase Price Amounts
ScheduleOfExcessPurchasePriceAmounts
The following table provides a summary of the preliminary allocation of the excess purchase price.<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%">Goodwill</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">12,691</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Trade Names &amp; Trademarks</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">19,970</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Know-How and Intellectual Property</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">107,633</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Customer Relationships</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">38,693</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt">Excess purchase price</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">178,987</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%">Goodwill</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">46,460</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Trade Names &amp; Trademarks</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16,705</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Know-How and Intellectual Property</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16,704</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Website</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16,704</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Customer Relationships</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">10,023</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt">Excess purchase price</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">106,596</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table>
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
4 pure
CY2023Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
35104 usd
CY2023Q3 crtd Prepaid Expense And Other Current Assets
PrepaidExpenseAndOtherCurrentAssets
209408 usd
CY2023Q3 us-gaap Deposits Assets Noncurrent
DepositsAssetsNoncurrent
298503 usd
CY2023Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Indefinite Lived Intangible Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIndefiniteLivedIntangibleAssets
183229 usd
CY2023Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet
46460 usd
CY2023Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Inventory
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory
112398 usd
CY2023Q3 us-gaap Other Assets Current
OtherAssetsCurrent
2006898 usd
CY2023Q3 us-gaap Other Assets
OtherAssets
2892000 usd
CY2023Q3 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
13440962 usd
CY2023Q3 crtd Notes Payable And Convertible Notes Net Of Debt Discount And Issuance Costs
NotesPayableAndConvertibleNotesNetOfDebtDiscountAndIssuanceCosts
7607587 usd
CY2023Q3 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
342609 usd
CY2023Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
2221543 usd
CY2023Q3 us-gaap Liabilities
Liabilities
23612701 usd
CY2022Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
239423 usd
CY2022Q4 crtd Prepaid Expense And Other Current Assets
PrepaidExpenseAndOtherCurrentAssets
128547 usd
CY2022Q4 us-gaap Deposits Assets Noncurrent
DepositsAssetsNoncurrent
797231 usd
CY2022Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Indefinite Lived Intangible Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIndefiniteLivedIntangibleAssets
230084 usd
CY2022Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet
46460 usd
CY2022Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Inventory
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory
404970 usd
CY2022Q4 us-gaap Other Assets Current
OtherAssetsCurrent
2973034 usd
CY2022Q4 us-gaap Other Assets
OtherAssets
4819749 usd
CY2022Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
7565720 usd
CY2022Q4 crtd Notes Payable And Convertible Notes Net Of Debt Discount And Issuance Costs
NotesPayableAndConvertibleNotesNetOfDebtDiscountAndIssuanceCosts
7015279 usd
CY2022Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
299409 usd
CY2022Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
2442540 usd
CY2022Q4 us-gaap Liabilities
Liabilities
17322948 usd
CY2023Q3 us-gaap Revenues
Revenues
437855 usd
CY2023Q3 us-gaap Cost Of Revenue
CostOfRevenue
359700 usd
CY2023Q3 us-gaap Gross Profit
GrossProfit
78155 usd
CY2023Q3 us-gaap Deferred Compensation Arrangement With Individual Compensation Expense
DeferredCompensationArrangementWithIndividualCompensationExpense
341338 usd
CY2023Q3 us-gaap Other Research And Development Expense
OtherResearchAndDevelopmentExpense
543161 usd
CY2023Q3 us-gaap Other Selling And Marketing Expense
OtherSellingAndMarketingExpense
61898 usd
CY2023Q3 us-gaap Employee Benefits And Share Based Compensation Noncash
EmployeeBenefitsAndShareBasedCompensationNoncash
397516 usd
CY2023Q3 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
585970 usd
CY2023Q3 us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
71085 usd
CY2023Q3 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
2000968 usd
CY2023Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
473457 usd
CY2023Q3 us-gaap Other General Expense
OtherGeneralExpense
522484 usd
CY2023Q3 us-gaap Other Labor Related Expenses
OtherLaborRelatedExpenses
-995941 usd
CY2023Q3 crtd Loss Before Income Tax Provision And Equity In Net Loss From Unconsolidated Investments
LossBeforeIncomeTaxProvisionAndEquityInNetLossFromUnconsolidatedInvestments
-2918754 usd
CY2022Q3 us-gaap Revenues
Revenues
1022851 usd
CY2022Q3 us-gaap Cost Of Revenue
CostOfRevenue
1404562 usd
CY2022Q3 us-gaap Gross Profit
GrossProfit
-381711 usd
CY2022Q3 us-gaap Deferred Compensation Arrangement With Individual Compensation Expense
DeferredCompensationArrangementWithIndividualCompensationExpense
1736035 usd
CY2022Q3 us-gaap Other Research And Development Expense
OtherResearchAndDevelopmentExpense
234965 usd
CY2022Q3 us-gaap Other Selling And Marketing Expense
OtherSellingAndMarketingExpense
646520 usd
CY2022Q3 us-gaap Employee Benefits And Share Based Compensation Noncash
EmployeeBenefitsAndShareBasedCompensationNoncash
626568 usd
CY2022Q3 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
2193024 usd
CY2022Q3 us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
157996 usd
CY2022Q3 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
5595108 usd
CY2022Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
673694 usd
CY2022Q3 us-gaap Other General Expense
OtherGeneralExpense
2875832 usd
CY2022Q3 us-gaap Other Labor Related Expenses
OtherLaborRelatedExpenses
-3549527 usd
CY2022Q3 crtd Loss Before Income Tax Provision And Equity In Net Loss From Unconsolidated Investments
LossBeforeIncomeTaxProvisionAndEquityInNetLossFromUnconsolidatedInvestments
-9526346 usd
us-gaap Revenues
Revenues
2123364 usd
us-gaap Cost Of Revenue
CostOfRevenue
1809974 usd
us-gaap Gross Profit
GrossProfit
313390 usd
us-gaap Deferred Compensation Arrangement With Individual Compensation Expense
DeferredCompensationArrangementWithIndividualCompensationExpense
5176920 usd
us-gaap Other Research And Development Expense
OtherResearchAndDevelopmentExpense
721088 usd
us-gaap Other Selling And Marketing Expense
OtherSellingAndMarketingExpense
969228 usd
us-gaap Employee Benefits And Share Based Compensation Noncash
EmployeeBenefitsAndShareBasedCompensationNoncash
8283267 usd
us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
3366745 usd
us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
143207 usd
us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
18660455 usd
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
632808 usd
us-gaap Other General Expense
OtherGeneralExpense
4360264 usd
us-gaap Other Labor Related Expenses
OtherLaborRelatedExpenses
-4993072 usd
crtd Loss Before Income Tax Provision And Equity In Net Loss From Unconsolidated Investments
LossBeforeIncomeTaxProvisionAndEquityInNetLossFromUnconsolidatedInvestments
-23340137 usd
us-gaap Revenues
Revenues
3997490 usd
us-gaap Cost Of Revenue
CostOfRevenue
4771151 usd
us-gaap Gross Profit
GrossProfit
-773661 usd
us-gaap Deferred Compensation Arrangement With Individual Compensation Expense
DeferredCompensationArrangementWithIndividualCompensationExpense
3510727 usd
us-gaap Other Research And Development Expense
OtherResearchAndDevelopmentExpense
686131 usd
us-gaap Other Selling And Marketing Expense
OtherSellingAndMarketingExpense
4016051 usd
us-gaap Employee Benefits And Share Based Compensation Noncash
EmployeeBenefitsAndShareBasedCompensationNoncash
3848578 usd
us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
7702436 usd
us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
441943 usd
us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
20205866 usd
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
707950 usd
us-gaap Other General Expense
OtherGeneralExpense
3424854 usd
us-gaap Other Labor Related Expenses
OtherLaborRelatedExpenses
-4132804 usd
crtd Loss Before Income Tax Provision And Equity In Net Loss From Unconsolidated Investments
LossBeforeIncomeTaxProvisionAndEquityInNetLossFromUnconsolidatedInvestments
-25112331 usd
CY2023Q4 us-gaap Common Stock Other Value Outstanding
CommonStockOtherValueOutstanding
150000 usd
CY2023Q4 us-gaap Common Stock Other Shares Outstanding
CommonStockOtherSharesOutstanding
6000000 shares
CY2023Q4 us-gaap Debt Instrument Annual Principal Payment
DebtInstrumentAnnualPrincipalPayment
30000 usd
CY2023Q4 us-gaap Interest Income And Fees Bankers Acceptances Certificates Of Deposit And Commercial Paper
InterestIncomeAndFeesBankersAcceptancesCertificatesOfDepositAndCommercialPaper
8197.5 usd
CY2023Q4 us-gaap Convertible Preferred Stock Shares Issued Upon Conversion
ConvertiblePreferredStockSharesIssuedUponConversion
1527900 shares
us-gaap Interest Expense Subordinated Notes And Debentures
InterestExpenseSubordinatedNotesAndDebentures
2485000 usd
CY2023Q3 us-gaap Long Term Debt Maturity Date
LongTermDebtMaturityDate
2024-02-28
CY2023Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.025
CY2023Q3 crtd Shares Consideration
SharesConsideration
5000000 shares
us-gaap Liabilities Assumed1
LiabilitiesAssumed1
215000 usd
crtd Cancellation Of Liabilities Assumed
CancellationOfLiabilitiesAssumed
38750 usd
crtd Percentage Of Cash Receipts From Acquired Inventory
PercentageOfCashReceiptsFromAcquiredInventory
0.075 pure
us-gaap Payments For Participation Liabilities
PaymentsForParticipationLiabilities
75000 usd
CY2023Q3 us-gaap Excess Stock Shares Issued
ExcessStockSharesIssued
5753472 shares
CY2023Q1 us-gaap Accrued Payroll Taxes Current And Noncurrent
AccruedPayrollTaxesCurrentAndNoncurrent
2071245 usd
CY2023Q4 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
75000 usd
us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
67982 usd
us-gaap Subsequent Event Description
SubsequentEventDescription
(i) the Buyer purchased a promissory note (the “Promissory Note”) made by the Company, in the aggregate principal amount of $111,111, convertible into shares of common stock, $0.001 par value per share, of the Company (the “Common Stock”), upon the terms set forth in the Promissory Note, and (ii) the Company issued 5,000,000 restricted shares of Common Stock to the Buyer as additional consideration for the purchase of the Promissory Note, for a purchase price of $100,000. The Company will pay guaranteed interest on the unpaid Principal Amount at the rate of 10% (the “Interest Rate”) per annum from October 31, 2023 (the “Issue Date”) until the same becomes due and payable. The maturity date shall be twelve months from the Issue Date.
CY2023Q3 us-gaap Long Term Notes Payable
LongTermNotesPayable
usd
CY2022Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
usd
CY2023Q3 us-gaap Preferred Stock Value
PreferredStockValue
usd
CY2022Q4 us-gaap Preferred Stock Value
PreferredStockValue
usd
CY2023Q3 us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
usd
us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
usd
CY2022Q3 crtd Settlement Of Vendor Liabilities
SettlementOfVendorLiabilities
usd
CY2023Q3 crtd Impairment Of Investment
ImpairmentOfInvestment
usd
crtd Impairment Of Investment
ImpairmentOfInvestment
usd
CY2023Q3 us-gaap Marketable Securities Gain Loss
MarketableSecuritiesGainLoss
usd
CY2023Q3 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
usd
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.09
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.45
CY2023Q1 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
usd
CY2023Q1 crtd Stock Issued During Period Deemed Dividend
StockIssuedDuringPeriodDeemedDividend
usd
CY2023Q2 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
usd
CY2023Q2 crtd Stock Issued During Period Deemed Dividend
StockIssuedDuringPeriodDeemedDividend
usd
CY2023Q3 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
usd
CY2023Q3 crtd Stock Issued During Period Deemed Dividend
StockIssuedDuringPeriodDeemedDividend
usd
CY2022Q1 us-gaap Stock Issued During Period Value Stock Dividend
StockIssuedDuringPeriodValueStockDividend
usd
CY2022Q3 us-gaap Stock Issued During Period Value Stock Dividend
StockIssuedDuringPeriodValueStockDividend
usd
crtd Impairment Of Investment
ImpairmentOfInvestment
usd
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
usd
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
usd
us-gaap Other Expenses
OtherExpenses
usd
us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
usd
us-gaap Noncash Contribution Expense
NoncashContributionExpense
usd
crtd Increase Decrease In Operating Lease Right Of Use Asset
IncreaseDecreaseInOperatingLeaseRightOfUseAsset
usd
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
usd
crtd Cash Received From The Sale Of Minority Interest In Og Collection Inc
CashReceivedFromTheSaleOfMinorityInterestInOGCollectionInc
usd
us-gaap Marketable Securities Gain Loss Excluding Other Than Temporary Impairments
MarketableSecuritiesGainLossExcludingOtherThanTemporaryImpairments
usd
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
usd
crtd Cash Consideration For Acquisition
CashConsiderationForAcquisition
usd
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
usd
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
usd
us-gaap Proceeds From Issuance Of Convertible Preferred Stock
ProceedsFromIssuanceOfConvertiblePreferredStock
usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
usd
crtd Settlement Of Vendor Liability
SettlementOfVendorLiability
usd
us-gaap Stock Issued1
StockIssued1
usd
crtd Feature Issued With Convertible Note
FeatureIssuedWithConvertibleNote
usd
crtd Shares Issued With Notes Payable
SharesIssuedWithNotesPayable
usd
crtd Goodwill Acquired In A Business Combination
GoodwillAcquiredInABusinessCombination
usd
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
usd
us-gaap Dividend Income Operating
DividendIncomeOperating
usd
CY2023Q3 us-gaap Retail Related Inventory Packaging And Other Supplies
RetailRelatedInventoryPackagingAndOtherSupplies
usd
CY2023Q3 us-gaap Long Term Debt
LongTermDebt
usd
crtd Share Based Compensation Award Options Weighted Average Remaining Contractual Life Granted
ShareBasedCompensationAwardOptionsWeightedAverageRemainingContractualLifeGranted
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
crtd Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercised Weighted Average Remaining Contractual Term
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisedWeightedAverageRemainingContractualTerm
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
crtd Weighted Average Remaining Contractual Lifein Years Forfeited Cancelled
WeightedAverageRemainingContractualLifeinYearsForfeitedCancelled
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Entity Central Index Key
EntityCentralIndexKey
0001357671

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