Company: ORBS
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004802
Chunk: 351

Company: Eightco Holdings Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1B
Chunk 351
---
-  
     - 
  
    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: 

    Right of use assets 
    $-  
     - 
  
    Property and equipment 
    $-  
     (82,104)
  
    Net deferred tax liabilities 
    $-  
    $(82,104)
  
    Net deferred taxes 
    $-  
    $(82,104)

The
income tax provision consists of the following:

 SCHEDULE OF INCOME TAX PROVISION 

    2024  
    2023 

    Current: 

    Federal 
    $-  
    $- 
  
    State 
     72,976  
     - 
  
    Foreign 
     (135,337) 
     - 
  
    Total current 
     (62,361) 
     - 
  
    Deferred: 

    Federal 
     (55,816) 
     (4,415,124)
  
    State 
     (26,287) 
     - 
  
    Foreign 
     -  
     (114,084 
  
    Less: change in valuation allowance 
     -  
     4,529,208 
  
    Total deferred 
     (82,103) 
     - 
  
    Total income tax provision (benefit) 
    $(144,464) 
    $- 
  
    Less: income tax provision (benefit) – discontinued operations 
     (9,127) 
     - 
  
    Total income tax provision (benefit) – continuing operations 
     (135,337) 
     - 

    F-23

EIGHTCO
HOLDINGS INC.

NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS

For
the Years ended December 31, 2024 and 2023

18.
INCOME TAXES (continued)

A
reconciliation of the statutory federal income tax rate to the Company’s effective tax rate is