Company: ORBS
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004802
Chunk: 809

Company: Eightco Holdings Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 4
Chunk 809
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6 to 10 years for machinery and equipment, 10 to 15 years for building improvements,
5 years for software, 5 years for molds, 5 to 7 years for vehicles and 40 years for buildings. When fixed assets are retired or otherwise
disposed of, the cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is included in the statements
of comprehensive loss for the respective period. Minor additions and repairs are expensed in the period incurred. Major additions and
repairs which extend the useful life of existing assets are capitalized and depreciated using the straight-line method over their remaining
estimated useful lives.

Intangible
Assets and Long-lived Assets. The Company reviews long-lived assets, including definite-lived intangible assets, for impairment whenever events or changes in circumstances indicate
that the carrying amount of the asset may not be recoverable. The Company assesses the recoverability of its long-lived assets using
undiscounted cash flows. If an asset is found to be impaired, the amount recognized for impairment is equal to the difference between
the carrying value and the asset’s fair value. During the years ended December 31, 2024 and 2023, the Company recorded impairment
charges to long lived assets in the amounts of $0 and $292,748, respectively. The impaired asset was fully written off in 2023. The Company records intangible assets based on their fair value on
the date of acquisition. Intangible assets include the cost of developed technology, customer relationships, trademarks and tradenames.
Intangible assets are amortized utilizing the straight-line method over their remaining economic useful lives, as follows: 10 years for
developed technology, 7 years for customer relationships and 7 years for trademarks and tradenames. The Company reviews long-lived assets
and intangible assets for potential impairment annually and when events or changes in circumstances indicate the carrying amount of an
asset may not be recoverable. In the event the expected undiscounted future cash flows resulting from the use of the asset is less than
the carrying amount of the asset, an impairment loss is recorded equal to the excess of the asset’s carrying value over its fair
value. If an asset is determined to be impaired, the loss is measured based on quoted market prices in active markets, if available.
If quoted market prices are not available, the estimate of fair value is based on various valuation techniques, including a discounted
value of estimated future cash flows. In the event that management decides to