Creatd, Inc. Files With the IRS for $1.28 Million Employee Retention Credit

Published on January 29, 2024

Creatd, Inc. ($VOCLD), a pioneering firm in technology and digital community development, is pleased to announce that it has filed for the Employee Retention Credit (ERC) for $1,284,966. The ERC is a refundable tax credit under the U.S. government’s response to the economic impact of the pandemic, aimed at encouraging businesses to retain employees during these challenging times.

This filing represents an important step for $CRTD (temporarily trading under $VOCLD until February 22, 2024), highlighting the company’s dedication to its workforce and financial prudence. Jeremy Frommer, CEO of Creatd, Inc., commented on this strategic move, stating, "Filing for the ERC credit with the IRS demonstrates our commitment to making financial decisions that benefit our employees and the company as a whole. This action not only supports our team but also bolsters our financial stability, allowing us to continue investing in our core mission and strategic growth areas."

The ERC credit, if approved, is expected to provide financial relief to Creatd, Inc., enabling continued investment in its innovative initiatives from Reg CFs and accretive acquisitions to strengthen the balance sheet with potential stock buybacks and special dividends. This financial support is crucial as the company advances its mission of empowering creators, building communities, and fostering opportunities through its unique technology platforms.

Creatd, Inc. remains focused on its strategy of fostering digital innovation and community engagement. The company is confident in its business model and its ability to navigate the evolving economic landscape while continuing to deliver value to its customers, partners, and shareholders.

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