Company: ORBS
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004802
Chunk: 707

Company: Eightco Holdings Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 3
Chunk 707
---
2022 Note, March 2023 Note, and associated warrants were satisfied in full and the instruments were extinguished
during the year ended December 31, 2024.

No
convertible notes or related instruments were outstanding as of December 31, 2024 with the Note Investor.

    F-21

EIGHTCO
HOLDINGS INC.

NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS

For
the Years ended December 31, 2024 and 2023

17.
CONVERTIBLE NOTES PAYABLE – RELATED PARTIES

The
convertible notes payable, related party were issued as part of consideration for the acquisition of Forever 8. The discount was
calculated based on the fair value of the instrument as of October 1, 2022. Please see Note 3. Acquisitions for
further information. Principal due under the convertible note payable – related parties was as follows at December 31, 2024
and 2023:

 SCHEDULE OF CONVERTIBLE NOTES PAYABLE RELATED PARTIES 

    December 31,  2024   
    December 31,  2023  

    Notes payable, 12% and 10% 
     21,771,155  
     27,383,700 
  
    Less: current portion 
     11,500,000  
     11,500,000 
  
    Notes payable, long-term potion 
    $10,271,155  
    $15,883,700 
  
    Less: debt discount 
     750,000  
     1,750,000 
  
    Notes payable, long-term portion, net 
     9,521,155  
     14,133,700 

Interest
expense under convertible notes payable – related parties was $2,916,597 and $3,878,696, of which $1,000,000 and $1,000,000 was
related to amortization of the debt discount, for the years ended December 31, 2024 and 2023, respectively.

18.
INCOME TAXES

Eightco
Holdings Inc. is taxed as a corporation and pays corporate federal, state and local taxes on income.

Forever
8 Fund, LLC, BlockHiro, LLC and Cryptyde Shared Services, LLC are limited liability companies which are disregarded entities for income
tax purposes and are owned 100% by