Company: ORBS
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004802
Chunk: 190

Company: Eightco Holdings Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1A
Chunk 190
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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) 
     -80.65%
  
    Total other (expense) income, net 
     6,613  
     34,056  
     (27,443) 
     -80.58%
  
     Income before income taxes 
     409,588  
     736,701  
     (327,113) 
     -44.40%
  
    Income tax expense (benefit) 
     (9,128) 
     -  
     (9,128) 
     -100.00%
  
    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