Company: ORBS
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004802
Chunk: 596

Company: Eightco Holdings Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 2
Chunk 596
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 State of the State of Delaware
to effectuate the 2024 Reverse Stock Split.

On December 19, 2024, the Company entered into a third
amendment to the Seller Notes originally issued in connection with the acquisition of Forever 8 (the “December 2024 Seller Notes
Amendment”). Pursuant to the terms of this amendment, the holders of the Seller Notes, who are considered related parties, agreed
to convert approximately $1,600,000 of accrued interest into 485,381 shares of the Company’s common stock. The shares were valued
based on the closing price of the Company’s common stock on the date of the agreement. The modification was accounted for as a capital
transaction, and the resulting gain was recognized as an increase to additional paid-in capital. As of December 31, 2024, the shares had
not yet been issued and are included in the calculation of basic and diluted weighted-average shares outstanding as shares to be issued.

On December 31, 2024, the Company issued a total of 20,000 shares of common
stock fair valued at $34,000 at the time it was granted to consultants. The Company recorded the fair value as prepaid expenses on balance
sheet and will record stock-based compensation expense upon the closing of an asset based line of credit.

On December 31, 2024, the Company issued a total of 18,000 shares of common
stock fair valued at $53,600 at the time it was granted to a consultant. The Company recorded stock-based compensation expense for the
year ended December 31, 2024 of $53,600.

Common stock issuances during
the year ended December 31, 2023:

From January 1, 2023 through December 31, 2023, the
Company issued a total of 154,947 shares of common stock to a noteholder for repayment of principal valued at $7,743,333 based on the
conversion price set forth in the Note.

On
January 26, 2023, the Company issued a total of 4,110 shares of common stock to employees for services rendered on behalf of the Company
valued at $571,200 and previously expensed as stock-based compensation.

On
January 26, 2023, the Company issued a total of 540 shares of common stock to three directors for director compensation valued at $91,800
and previously expensed as stock-based compensation.

On