Company: ORBS
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004802
Chunk: 791

Company: Eightco Holdings Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 4
Chunk 791
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 deficit at December 31, 2024.
These factors raise substantial doubt about the Company’s ability to continue as a going concern for a period of one year from
the issuance of these financial statements.

As
of December 31, 2024, the Company had approximately $0.2 million in cash and cash equivalents as compared to $5.2 million at
December 31, 2023. The Company expects that its current cash and cash equivalents, approximately $0.2 million as of the date of this
annual report, will not be sufficient to support its projected operating requirements for at least the next 12 months from this
date.

The
Company expects to need additional capital in order to increase revenues above current levels. Any additional equity financing, if available,
may not be on favorable terms and would likely be significantly dilutive to the Company’s current stockholders, and debt financing,
if available, may involve restrictive covenants. The Company’s ability to access capital when needed is not assured and, if not
achieved on a timely basis, will likely have a materially adverse effect on our business, financial condition and results of operations.
In 2023, the Company began reducing headcount to reduce the corporate overhead. The Company raised capital in 2024 and intends to continue reducing costs in 2025 while raising additional capital
as needed.

Off-Balance
Sheet Arrangements

We
did not have, during the periods presented, and we do not currently have, any relationships with any organizations or financial partnerships,
such as structured finance or special purpose entities, that would have been established for the purpose of facilitating off-balance
sheet arrangements or other contractually narrow or limited purposes.

ITEM
7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

As
a smaller reporting company, we are not required to provide this information.

39

ITEM
8. FINANCIAL STATEMENTS

INDEX
TO FINANCIAL STATEMENTS

    Report of Independent Registered Public Accounting Firm – Stephano Slack LLC (PCAOB
ID Number 03523)
     
    F-1

    Report of Independent Registered Public Accounting Firm– Morison Cogen LLP (PCAOB ID Number 00536)
     
    F-2

    Consolidated Balance Sheets as of December 31, 2024 and 2023
     
    F-3

    Consolidated Statements of Operations for the years ended December 31,