Company: ORBS
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023549
Chunk: 90

Company: Eightco Holdings Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 90
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forks” of the Worldcoin blockchain into multiple
blockchains, difficulties with upgrades to the Worldcoin network and advances in digital computing, algebraic geometry, and quantum computing
could undercut the integrity of the Worldcoin blockchain and negatively affect the price of WLD. The liquidity of WLD may also be reduced
and damage to the public perception of Worldcoin may occur, if financial institutions were to deny or limit banking services to businesses
that hold WLD, provide Worldcoin-related services or accept WLD as payment, which could also decrease the price of WLD.

The
liquidity of WLD may also be impacted to the extent that changes in applicable laws and regulatory requirements negatively impact the
ability of exchanges and trading venues to provide services for WLD and other digital assets.

If
any of the digital assets that we hold are classified as a security, we may be subject to extensive regulation, which could result in
significant costs or force us to cease operations.

Regulatory
changes or interpretations that classify digital assets that we hold as a security under the Securities Act of 1933, as amended, or the
Investment Company Act of 1940, as amended (the “Investment Company Act”), could require us to register and comply with additional
regulations. Compliance with these requirements could impose extraordinary, non-recurring expenses on our business. If the costs and
regulatory burdens become too great, we may be forced to modify or cease certain operations, which could be detrimental to our investors.

The
SEC has previously indicated that certain digital assets may be considered securities depending on their structure and use. For instance,
if regulators were to determine that WLD meets the Howey Test, it would be a security. The Howey Test is (1) an investment of money,
(2) in a common enterprise, (3) with a reasonable expectation of profit, (4) derived from the efforts of others. The application of the
Howey Test, and other precedents for the determination of a security, are not always straightforward. Future developments could change
the legal status of digital assets that we may hold, requiring us to comply with securities laws. If we fail to do so, we may be forced
to discontinue some or all of our business activities, negatively impacting investments in our securities.

If
the SEC or other regulators determine that digital assets that we may hold qualify as securities, we may be required to change our operations,
wind down our operations, or register as an investment company under the