Company: ORBS
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023549
Chunk: 235

Company: Eightco Holdings Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part II, Item 1A
Chunk 235
---
 particular, to the extent that Sam Atman, believed to
be a large holder of WLD, or other of the key early contributors make personal decisions or priorities that do not support WLD or that
the market does not perceive as favorable to WLD, this could have an adverse impact on the ecosystem, the value of our treasury assets
and our stock price. Even if the project transitions to a decentralized autonomous organization, a small number of “whale”
holders could dominate votes, frustrating efforts to build an open, community-driven model.

45

Early
token allocations could create long-term misalignment between insiders seeking liquidity and community members seeking network stability.
All of these factors could create significant friction in the growth of the WLD ecosystem, which could have an adverse impact on the
value of the Company’s common stock.

Liquidity
of WLD is not guaranteed, and WLD could be subject to manipulation.

Adequate
liquidity of WLD is not guaranteed. Venues that offer WLD trading may not be transparent about their liquidity and order flow, and they
may be subject to limited regulations. These factors may create opportunities for manipulative practices, such as wash trading, pump
and dump schemes and other means of artificial price support. Limited independent oversight makes it difficult to assess whether price
discovery is organic or influenced by external factors, which could have an adverse impact on the value and reputation of WLD.

In
addition, the illiquidity of WLD is likely to have a direct impact on the execution and success of the Company’s treasury strategy.
If, for example, the Company’s treasury needs liquidity and there is no or an insufficient liquid market for WLD, the Company may
have to request liquidity from large holders of WLD. To date, the Company has primarily acquired WLD via over-the-counter purchases through
trading desks. Additionally, the Company has plans to purchase WLD directly from existing large holders. These transactions may not be
successful and the Company may determine that the terms of offers from such holders, or any future holders, to be off-market and not
favorable to the Company. Without liquidity, the offer to sell or buy WLD may be at prices or terms that are not commercially reasonable.
It may also mean that the Company may not be able to fulfill its treasury strategy if it cannot source or sell WLD or it can only do
so at prices it deems unreasonable. The illiquidity of WLD, if it continues, is