Company: ORBS
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-011052
Chunk: 20

Company: Eightco Holdings Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 2
Chunk 20
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 to need additional capital in order to maintain revenues at 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.

Cash
Flows

Since
inception, Eightco and its subsidiaries have primarily used its available cash to fund its operations. The following table sets forth
a summary of cash flows for the periods presented:

    For the Three Months Ended
    March 31,

    2024

    2023

    Cash (used in) provided by:

    Operating Activities
     
    $
    999,824

    $
    (723,292
    )
  
    Investing Activities

    (44,647
    )

    -

    Financing Activities

    (759,937
    )

    (3,715,767
    )
  
    Net increase (decrease) in cash and restricted cash
     
    $
    195,240

    $
    (4,439,059
    )

Cash
Flows for the Three Months Ended March 31, 2025 and 2024

Operating
Activities

Net cash provided by operating activities was 999,824
during the three months ended March 31, 2025, which consisted primarily of a net loss of $2,548,725, offset by depreciation and amortization
of $612,664, amortization of debt issuance costs of $250,000 and changes in assets and liabilities of $2,685,885.

Net
cash used in operating activities was $723,376 during the three months ended March 31, 2025, which consisted primarily of net income
of $4,947,859, depreciation and amortization of $605,796, amortization of debt issuance costs of $587,750 and changes in assets and liabilities
of ($798,719) offset largely by a gain on forgiveness of earnout of $6,100,000.

Investing
Activities

Net
cash provided by investing activities was $44,647 during the three months ended March 31, 2025 compared to $0 for the three months ended
March 31, 2024. The increase