Creatd anticipates subsidiary spinoff to occur before end of Q2

Creatd, the parent company of OG Collection, announced that it is engaging an accounting firm to complete an audit of the OG Collection. "This will enable the company to then immediately file its initial listing S-1 required to begin trading on Upstream… The company expects the OG Collection audit to be completed before the end of March and anticipates the subsidiary spinoff to occur before the end of second quarter. The spin-off of a listed public company is a corporate action which will create a unique CUSIP for OG Collection, Inc. As part of the registered spin-off, a special dividend consisting of tradeable OG Collection shares will be issued to all Creatd shareholders of record, with the record date expected to be in the second week of April," the company stated. Jeremy Frommer, Creatd CEO and Chairman, said, "Based on the analysis we have received from external data science companies we have engaged, we can now distinctly identify the indicators and markers of potential illegal naked short selling. After speaking with counsel, it has become apparent that we should move forward with the process of prosecuting those who are found to be profiting from abusive trading tactics in Creatd’s stock… I have studied the OG Collection spin-off and the implications of this corporate action, and believe in its potential to change the momentum, and how future CEOs combat the abusive trading tactics we are all fighting."