Company: ORBS
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023549
Chunk: 39

Company: Eightco Holdings Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 39
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22

EIGHTCO
HOLDINGS INC.

NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

16.
LINES OF CREDIT – RELATED PARTIES

Principal
due under the lines of credit – related parties was as follows at September 30, 2025 and
December 31, 2024:

 SCHEDULE
OF LINE OF CREDIT - RELATED PARTIES

    September 30, 2025  
    December 31, 2024 

    Lines of credit 12% - 18% 
    $3,575,000  
    $3,525,000 

For
the three and nine months ended September 30, 2025, interest expense under lines of credit – related parties was $139,208 and $413,739,
respectively. For the three and nine months ended September 30, 2024, interest expense under lines of credit – related parties
was $119,014 and $371,084, respectively.

The
lines of credit – related parties are collateralized by the inventory of the Company.

17.
CONVERTIBLE NOTES PAYABLE

During
2023, the Company had two senior secured convertible notes outstanding with an accredited investor (the “Note Investor”):
a note issued in January 2022 with an original principal amount of $33,333,333 (the “January 2022 Note”) and a note issued
in March 2023 with an original principal amount of $5,555,000 (the “March 2023 Note”). Both notes were issued at an original
issue discount and included embedded conversion features and detachable warrants, which resulted in the recognition of significant debt
discounts and warrant-related expenses in prior periods. These convertible notes were repaid in full during 2023 and 2024.

For
the three and nine months ended September 30, 2024, interest expense under convertible notes payable was $0 and $277,750, of which $0
and $277,750 was related to amortization of the debt discount, respectively.

No
convertible notes or related instruments were outstanding as of September 30, 2025 with the Note Investor.

    23

EIGHTCO
HOLDINGS INC.

NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

18.
CONVERTIBLE NOTES PAYABLE – RELATED PARTIES

The
convert