Published on March 03, 2022
- Creatd achieves virtually debt-free status with the elimination of Seller's Choice note from balance sheet
NEW YORK, March 4, 2022 /PRNewswire/ -- Creatd, Inc. (Nasdaq CM: CRTD) ("Creatd" or the "Company"), the parent company of Vocal, today announced that it has successfully settled an outstanding dispute from June 2020 for a total of $799,000, which includes $660,000 of note principal and $139,000 of accrued interest. This settlement reduces the total interest due on the original note to approximately 15% annually, including interest payments previously made by Creatd. The Company had originally placed the $660,000 principal balance into an escrow account on January 25, 2021.
Commented Creatd's Executive Chairman Jeremy Frommer, "I welcome the end of this chapter and would like to thank our attorneys and appreciate the plaintiff's approval of the use of capital at such a reasonable rate."
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