Company: ORBS
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004802
Chunk: 828

Company: Eightco Holdings Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 4
Chunk 828
---
 liability company for income tax purposes and is owned 51% by Eightco Holdings Inc. The Company pays corporate
federal, state and local taxes on income allocated to it from CW Machines, LLC.

Ferguson
Containers is taxed as a corporation and pays corporate federal, state and local taxes on income.

Forever
8 UK Ltd. is taxed as a corporation and pays foreign taxes on income.

    F-22

EIGHTCO
HOLDINGS INC.

NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS

For
the Years ended December 31, 2024 and 2023

18.
INCOME TAXES (continued)

F8
Fund EU Holdings BV is taxed as a corporation and pays foreign taxes on income.

Components
of income before income taxes were as follows:

 SCHEDULE OF COMPONENTS OF INCOME BEFORE INCOME TAXES 

    2024  
    2023 

    United States 
    $315,844  
    $(67,719,971)
  
    Foreign 
     248,218  
     (600,443)
  
    Income (loss) before income tax
    expense 
    $564,062  
    $(68,320,414)
  
    Less: income before income tax expense – discontinued operations 
     (409,588) 
     (736,701)
  
    Income before income tax expense – continuing operations 
     154,474  
     (69,057,115)

The
tax effects of temporary differences that give rise to deferred tax assets or liabilities are presented below:

 SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES 

    2024  
    2023 

    Deferred tax assets: 

    Stock-based compensation 
    $(8,387) 
    $(8,387)
  
    Goodwill and intangibles 
     487,575  
     270,574 
  
    Leases 
     -  
     - 
  
    Reserves 
     117,600  
     140,143 
  
    Net operating loss carryforwards 
     8,118,656  
     8,755,550 
  
    Less: valuation allowance 
     (8,715,444) 
     (9,157,880)
  
    Net deferred tax assets 
    $-  
    $- 

    Deferred tax liabilities: