Company: ORBS
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004802
Chunk: 48

Company: Eightco Holdings Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 48
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 financial statements.

Revenue and operating results
from Ferguson Containers are excluded from continuing operations and presented as a single line item in the consolidated statements of
operations. Ferguson Containers generated revenues of $6.8 million and $7.7 million and operating income of $0.4 million and $0.7 million
for the years ended December 31, 2024 and 2023, respectively.

The Company expects the sale to close in the second
quarter of 2025, subject to customary closing conditions.

The
following table sets forth information comparing the components of net (loss) income from discontinued operations for the years ended
December 31, 2024 and 2023:

    Year Ended December 31,  
    Period
over 
Period Change 

    2024  
    2023  
    $  
    % 

    Revenues, net: 

    Corrugated 
     6,823,277  
     7,729,131  
     (905,854) 
     -11.72%

    Cost of revenues: 

    Corrugated 
     4,980,338  
     5,496,462  
     (516,124) 
     -9.39%

    Gross profit: 

    Corrugated 
     1,842,939  
     2,232,669  
     (389,730) 
     -17.46%

    Operating expenses: 

    Selling, general and administrative 
     1,439,964  
     1,530,024  
     (90,060) 
     -5.89%
  
    Restructuring and severance 
     -  
     -  
     -  
     0.00%
  
    Operating loss 
     402,975  
     702,645  
     (299,670) 
     -42.65%

    Other  income: 

    Interest expense 
     -  
     (112) 
     112  
     -100.00%
  
    Loss on issuance of warrants 
     -  
     -  
     -  
     0.00%
  
    Other income 
     6,613  
     34,168  
     (27,555)