Company: ORBS
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004802
Chunk: 806

Company: Eightco Holdings Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 4
Chunk 806
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 company comprised
of the Eightco Businesses on June 30, 2022.

On
March 29, 2022, Ferguson Containers ownership was assigned by the Former Parent to the Company. This transaction between entities under
common control resulted in a change in reporting entity and required retrospective combination of the entities for all periods presented,
as if the combination had been in effect since the inception of common control. Accordingly, the consolidated financial statements
of the Company reflect the accounting of the combined acquired subsidiaries at historical carrying values, except that equity reflects
the equity of Eightco.

Basis
of Presentation.

The
accompanying audited consolidated financial statements of the Company have been prepared in accordance with accounting principles generally
accepted in the United States of America (“US GAAP”). All significant intercompany transactions and balances have been eliminated
in consolidation.

The
Company is an emerging growth company as the term is used in The Jumpstart Our Business Startups Act, enacted on April 5, 2021 and has
elected to comply with certain reduced public company reporting requirements.

    F-8

EIGHTCO
HOLDINGS INC.

NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS

For
the Years ended December 31, 2024 and 2023

2.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Reverse
Stock Split: On April 3, 2023, the Company filed a Certificate of Amendment to the Company’s Certificate of
Incorporation (the “Certificate of Incorporation”) with the Secretary of State of Delaware (1) to effect a 1-for-50
reverse stock split of the shares of the Company’s common stock, par value $0.001
per share (the “Common Stock”), either issued and outstanding or held by the Company as treasury stock (the “2023
Reverse Stock Split”) and (2) to change the name of the Company from “Cryptyde, Inc.” to “Eightco Holdings
Inc.” (the “Name Change”). On August 8, 2024, the Company filed another amendment to its Certificate of
Incorporation with the Secretary of State of the State of Delaware to effectuate a 1-for-5 reverse stock split if its Common Stock
(the “2024 Reverse Stock Split” and together with the 2023 Reverse Stock Split, the “Reverse Stock Splits”).
All share, equity award, and per share amounts contained in the consolidated financial statements