Company: ORBS
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004802
Chunk: 71

Company: Eightco Holdings Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 71
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the date of acquisition. Intangible assets include the cost of developed technology, customer relationships, trademarks and tradenames.
Intangible assets are amortized utilizing the straight-line method over their remaining economic useful lives, as follows: 10 years for
developed technology, 7 years for customer relationships and 7 years for trademarks and tradenames. The Company reviews long-lived assets
and intangible assets for potential impairment annually and when events or changes in circumstances indicate the carrying amount of an
asset may not be recoverable. In the event the expected undiscounted future cash flows resulting from the use of the asset is less than
the carrying amount of the asset, an impairment loss is recorded equal to the excess of the asset’s carrying value over its fair
value. If an asset is determined to be impaired, the loss is measured based on quoted market prices in active markets, if available.
If quoted market prices are not available, the estimate of fair value is based on various valuation techniques, including a discounted
value of estimated future cash flows. In the event that management decides to no longer allocate resources to an asset, an impairment
loss equal to the remaining carrying value of the asset is recorded. The Company did not record any impairment charges related to intangibles
assets during the years ended December 31, 2024 and 2023, respectively.

    F-10

EIGHTCO
HOLDINGS INC.

NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS

For
the Years ended December 31, 2024 and 2023

2.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Goodwill.
Goodwill is recorded for the difference between the fair value of the purchase consideration over the fair value of the net identifiable
tangible and intangible assets acquired. We perform an impairment assessment of goodwill on an annual basis as of December 31st, or whenever
impairment indicators exist. In the absence of any impairment indicators, goodwill is assessed for impairment during the fourth quarter
of each fiscal year. Judgments regarding the existence of impairment indicators are based on market conditions and operational performance
of the business. We may assess our goodwill for impairment initially using a qualitative approach to determine whether it is more likely
than not that the fair value of these assets is greater than their carrying value. When performing a qualitative test, we assess various
factors including industry and market conditions, macroeconomic conditions and performance of our businesses. If the results of the qualitative
assessment