Company: ORBS
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004802
Chunk: 187

Company: Eightco Holdings Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1A
Chunk 187
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     104,994  
     2,766  
     2.63%
  
    Total other (expense) income, net 
     8,347,033  
     (58,377,298) 
     66,724,331  
     -114.30%
  
    (Loss) income before income taxes 
     154,474  
     (69,057,115) 
     69,211,589  
     -100.22%
  
    Income tax benefit 
     (135,337) 
     -  
     (135,337) 
     -100.00%
  
    Net income (loss) from continuing operations 
    $289,811  
    $(69,057,115) 
    $69,346,926  
     -100.42%

35

Revenue

For
the year ended December 31, 2024, revenues decreased by $27,947,081 or 41.36%, as compared to the year ended December 31, 2023. The decrease
was primarily the result of decreased revenues due to less capital utilized to purchase inventory for our customers to allow for repayment
of debt. In addition, the Company had revenues of $0 and $0 for the years ended December 31, 2024 and 2023, respectively, related to
its BTC Mining Equipment Business. The Company no longer generates revenues related to CW Machines.

Cost
of Revenues

For
the year ended December 31, 2024, cost of revenues decreased by $27,669,287 or 45.13%, as compared to the year ended December 31, 2023.
The decrease was largely attributable to the decrease in revenues. In addition, the Company had cost of revenues of $0 and $0 for the
years ended December 31, 2024 and 2023, respectively, related to its BTC Mining Equipment Business. The Company no longer generates revenues
related to CW Machines.

Gross
Profit

For
the year ended December 31, 2024, gross profit decreased by $277,794, or 4.44%, as compared to the year ended December 31, 2023. The
decrease was largely attributable to the decrease in revenues. In addition, the Company had gross profit of $0 and $0 for the years ended
December 31,