Company: ORBS
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004802
Chunk: 87

Company: Eightco Holdings Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 87
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,000 

Interest
expense under lines of credit was $698,030 and $227,630 for the years ended December 31, 2024 and 2023, respectively.

The lines of credit are collateralized by the inventory of the Company.

    F-20

EIGHTCO
HOLDINGS INC.

NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS

For
the Years ended December 31, 2024 and 2023

15.
LINES OF CREDIT – RELATED PARTIES

Principal
due under the lines of credit – related parties was as follows at December 31, 2024 and December 31, 2023: 

SCHEDULE
OF LINE OF CREDIT - RELATED PARTIES 

    December 31,  2024   
    December 31,  2023  

    Lines of credit, 12%-18% 
    $3,525,000  
    $3,425,000 

Interest
expense under lines of credit – related parties was $495,542 and $339,987 for the years ended December 31, 2024 and 2023, respectively.

The lines of credit – related parties are collateralized by the inventory
of the Company.

16.
CONVERTIBLE NOTE PAYABLE

Principal
due under the convertible note payable was as follows at December 31, 2024 and December 31, 2023:

 SCHEDULE OF CONVERTIBLE NOTE PAYABLE  

    December 31,  2024   
    December 31,  2023  

    Note payable, 0% and 0% 
     -  
     4,637,250 
  
    Less: debt discount 
            -  
     - 
  
    Note payable, net 
    $-  
    $4,637,250 

Interest expense under convertible notes payable was
$277,750 and $7,109,078, of which $277,750 and $7,109,078 was related to amortization of the debt discount, for the years ended December
31, 2024 and 2023, respectively.

During
2023, the Company had two senior secured convertible notes outstanding with an accredited investor (the “Note Investor”):
a note issued in January 2022 with an original principal amount of $33,333,333 (the “January 2022 Note”) and