Company: ORBS
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004802
Chunk: 310

Company: Eightco Holdings Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1B
Chunk 310
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.00%
  
    Net income from discontinued operations 
    $418,716  
    $736,701  
    $(317,985) 
     -43.16%

Revenue

For
the year ended December 31, 2024, revenues from Corrugated Packaging decreased by $905,854 or 11.72%, as compared to the year ended
December 31, 2023. The decrease was primarily attributable to a reduction in revenue resulting from decreased orders from a key
customer.

Cost
of Revenues

For
the year ended December 31, 2024, cost of revenues from Corrugated Packaging decreased by $516,124 or 9.39%, as compared to the year
ended December 31, 2023. The decrease was largely attributable to the decrease in revenues.

Gross
Profit

For
the year ended December 31, 2024, gross profit from Corrugated Packaging decreased by $389,730, or 17.46%, as compared to the year
ended December 31, 2023. The decrease was largely attributable to the decrease in revenues.

37

Operating
Expenses

Selling,
general and administrative expenses were $1,439,964 and $1,530,024 for the years ended December 31, 2024 and 2023, respectively, representing
a decrease of $90,060, or 5.89%. The decrease was largely attributable to a decrease in salaries.

Interest
Expense

Interest
expense was $0 for the year ended December 31, 2024, versus $112 for the year ended December 31, 2023.

Total
other  income

Total
other  income was 6,613 for the year ended December 31, 2024 versus 34,056 for the year ended December 31, 2023. The decrease
in total other income (expense) was largely attributable to insurance reimbursements.

Income
tax benefit

Income
tax benefit was $(9,128) for the year ended December 31, 2024, versus an income tax expense benefit of $0 for the year ended
December 31, 2023, respectively.

Net
income from discontinued operations

Net
income from discontinued operations was $418,716 for the year ended December 31, 2024, versus  net income of $736,701 for the year ended
December 31, 2023. The