Company: ORBS
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004802
Chunk: 597

Company: Eightco Holdings Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 2
Chunk 597
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April 14, 2023, the Company issued 19,022 shares of common stock for broker dealers to investors for partial share ownership due to the
Company’s 2023 Reverse Stock Split.

On
September 22, 2023, the Company issued 30,000 shares to a consultant.

On
November 10, 2023, the Company issued 5,000 shares of its common stock to a consultant for services rendered on behalf of the Company.

During
the year ended December 31, 2023, the Company issued 508,893 shares of common stock upon the exercise of warrants.

As
of December 31, 2024 and 2023, the Company had 2,479,363 and 941,284 issued and outstanding shares of common stock, respectively.

Preferred
Stock: On January 17, 2023, the board of directors of the Company declared a dividend of one one-thousandth of a share of Series
A Preferred Stock, par value $0.001 per share (“Series A Preferred Stock”), for each outstanding share of the Company’s
common stock to stockholders of record at 5:00 p.m. Eastern Time on January 27, 2023.

On
January 19, 2023, the Company filed a Certificate of Designation with the Delaware Secretary of State for its Series A Preferred Stock.
The number of shares authorized for issuance is 300,000.

    F-26

EIGHTCO
HOLDINGS INC.

NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS

For
the Years ended December 31, 2024 and 2023

20.
COMMITMENTS AND CONTINGENCIES

Operating
Leases. The Company leases certain office space from an entity affiliated through common ownership under an operating lease agreement
on a month-to-month basis.

On
April 26, 2022, the Company entered into an assignment and assumption agreement with the Former Parent whereby the parties agreed to
transfer and assign to Eightco Holdings Inc. the lease agreement dated July 16, 2021 by and between Abdi R. Boozer-Jomehri (d/b/a
Safety Harbor Centre, Inc.) and Edison Nation, LLC, a 100%
owned subsidiary of the Former Parent (the “Safety Harbor Lease”). The Company adopted ASC 842 on January 1, 2022 and
recognized a right of use asset and liability of $98,736
using a discount