Company: ORBS
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004802
Chunk: 83

Company: Eightco Holdings Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 83
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791 
  
    Reserve for obsolescence 
     (500,000) 
     (600,000)
  
    Total inventories 
     7,935,928  
     6,079,907 
  
    Less: inventories – discontinued operations 
     (101,577) 
     (114,300)
  
    Inventories – continuing operations 
    $7,834,351  
    $5,965,607 

7.
OTHER CURRENT ASSETS

Other
current assets consist of the following at December 31, 2024 and December 31, 2023:

 SCHEDULE OF OTHER CURRENT ASSETS 

    December
    31, 2024  
    December
                                            31, 2023

    Advances for inventory
    purchases 
    $949,641  
    $517,228 
  
    Prepaid insurance 
     53,601  
     91,075 
  
    Deposits 
     72,744  
     4,994 
  
    Due from customer 
     -  
     106,846 
  
    Other 
     31,286  
     87,765 
  
    Total other current assets 
     1,107,272  
     807,908 
  
    Less:
    other current assets – discontinued operations 
     (105,249) 
     (129,893)
  
    Other
    current assets – continuing operations 
    $1,002,023  
    $678,015 

8.
LOAN HELD-FOR-INVESTMENT, RELATED PARTY

Loan
held-for-investment, related party, represents a senior secured promissory note from Wattum Management Inc., a non-controlling
member of CW Machines, LLC, a related party. The note bears interest of 5% per annum and matures on October 12, 2026 with the entire
outstanding principal and accrued interest due at maturity date. The note is secured by assets of Wattum Management, Inc. Expected credit
losses for loan held for investment are based on management’s assessment of credit risk associated with the loan, including consideration
of factors such as the financial condition of the entity, historical payment behavior, and any collateral or guarantees provided. The
Company determined it was not necessary to record an allowance for credit losses as of December 31, 2024 and 2023