Company: ORBS
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004802
Chunk: 584

Company: Eightco Holdings Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 2
Chunk 584
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 with the entire
outstanding principal and accrued interest due at maturity date. The note is secured by assets of Wattum Management, Inc. Expected credit
losses for loan held for investment are based on management’s assessment of credit risk associated with the loan, including consideration
of factors such as the financial condition of the entity, historical payment behavior, and any collateral or guarantees provided. The
Company determined it was not necessary to record an allowance for credit losses as of December 31, 2024 and 2023.

At
December 31, 2024 and 2023, the principal amount of the loan held for investment was $2,224,252 and $2,224,252, respectively.

    F-18

EIGHTCO
HOLDINGS INC.

NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS

For
the Years ended December 31, 2024 and 2023

9.
PROPERTY AND EQUIPMENT, NET

Property
and equipment consist of the following at December 31, 2024 and December 31, 2023:

 SCHEDULE OF PROPERTY AND EQUIPMENT 

    December 31,  2024   
    December 31,  2023  

    Land 
    $-  
    $- 
  
    Building and building improvements 
     781,985  
     781,985 
  
    Equipment and machinery 
     4,821,936  
     4,752,663 
  
    Furniture and fixtures 
     284,877  
     284,049 
  
    Vehicles 
     585,854  
     585,854 
  
    Property plant and equipment, gross 
     6,474,652  
     6,404,551 
  
    Less: accumulated depreciation 
     (5,834,427) 
     (5,659,992)
  
    Total property and equipment, net 
     640,225  
     744,559 
  
    Less: property and equipment, net – discontinued operations 
     (634,773) 
     (739,337)
  
    Property and equipment, net – continuing operations 
    $5,452  
    $5,222 

Depreciation
and amortization expense was $174,443 and $199,282 for the years ended December 31, 2024 and 2023, respectively. The Company