Company: ORBS
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023549
Chunk: 40

Company: Eightco Holdings Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 40
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ible notes payable, related party were issued as part of consideration for the acquisition of Forever 8. The discount was calculated
based on the fair value of the instrument as of October 1, 2022. Principal due under the convertible note payable – related parties
was as follows at September 30, 2025 and December 31, 2024:

 SCHEDULE OF CONVERTIBLE NOTES PAYABLE RELATED PARTIES

    September 30, 2025  
    December 31,2024 

    Notes payable, 12% 
    $       -  
    $21,771,155 
  
    Less: current portion 
     -  
     11,500,000 
  
    Notes payable, long-term potion 
    $-  
    $10,271,155 
  
    Less: debt discount 
     -  
     750,000 
  
    Notes payable, long-term portion, net 
    $-  
    $9,521,155 

For
the three and nine months ended September 30, 2025, interest expense under convertible notes payable – related parties was
$894,507 and
$2,694,253,
of which $250,000 and
$750,000 was
related to amortization of the debt discount, respectively. For the three and nine months ended September 30, 2024, interest expense
under convertible notes payable – related parties was $1,225,473 and
$2,262,635,
of which $250,000 and
$750,000 was
related to amortization of the debt discount, respectively. For the three and nine months ended September 30, 2025, the Company
recognized a capital contribution in additional paid in capital of $22,789,599 related
to the forgiveness of debt and accrued interest. For the three and nine months ended September 30, 2024, the Company recognized a capital contribution in additional
paid in capital of $5,400,000 and $8,406,896 related to the forgiveness of debt and accrued interest.

19.
INCOME TAXES

Eightco
Holdings Inc. is taxed as a corporation and pays corporate federal, state and local taxes on income.

Forever
8 Fund, LLC, BlockHiro, LLC, Cryptyde Shared Services, LLC and Orb Subsidiary One, LLC are limited liability companies which are disregarded
entities