Company: ORBS
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004802
Chunk: 222

Company: Eightco Holdings Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1A
Chunk 222
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 wholly owned subsidiary, Ferguson Containers, Inc. (the
“Corrugated Packaging Business”), to Ferguson Containers, LLC, a New Jersey limited liability company controlled by
certain management employees of the Corrugated Packaging Business (the “Buyers”). This sale was completed on April 7,
2025. See Subsequent events Note 22 for more details.

As
a result of entering into the APA, the Company has classified the operations of Ferguson Containers as discontinued operations in the
consolidated financial statements for all periods presented. Assets and liabilities associated with Ferguson Containers have been classified
as “held for sale” as of December 31, 2024.

The
following summarizes the components of the assets and liabilities from discontinued operations to be divested for the years ended December
31, 2024 and 2023:

SCHEDULE
OF DISCONTINUED OPERATIONS 

    December 31,  
    December 31, 

    2024  
    2023 

    ASSETS 

    Current assets: 

    Cash and cash equivalents 
    $168,323  
    $- 
  
    Accounts receivable, net 
     788,317  
     625,293 
  
    Inventories 
     101,577  
     114,300 
  
    Prepaid expenses and other current assets 
     105,249  
     129,893 
  
    Property and equipment, net 
     634,773  
     739,337 
  
    Total assets 
    $1,798,239  
    $1,608,823 

    LIABILITIES 

    Current liabilities: 

    Accounts payable 
    $2,980  
    $942 
  
    Accrued expenses and other current liabilities 
     31,775  
     32,790 
  
    Income tax payable 
     72,976  
     - 
  
    Deferred tax liabilities 
     -  
     82,104 
  
    Total liabilities 
    $107,731  
    $115,836 

The
following summarizes the components of net income from discontinued operations for the years ended December 31, 2024 and 2023:

    2024  
    2023 

    Year Ended December 31, 

    2024  
    2023 

    Revenues