Company: ORBS
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023549
Chunk: 21

Company: Eightco Holdings Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 21
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 USDs at the exchange rate on the balance sheet date, equity accounts are translated at historical rates, and income
and expense items are translated at the weighted average exchange rate during the period. The resulting translation adjustments are reported
under accumulated other comprehensive income in the stockholders’ equity section of the balance sheets.

Transactions
in currencies other than the entity’s functional currency are recorded at the rates of exchange prevailing on the date of the transaction.
At the end of each reporting period, monetary items denominated in foreign currencies are translated at the rates prevailing at the end
of the reporting periods. Exchange differences arising on the settlement of monetary items and on translation of monetary items at period-end
are included in statement of comprehensive loss.

For
the three months ended September 30, 2025, approximately 86% of consolidated revenues were derived from customers located in Europe and
denominated primarily in Euros. As a result, the Company is exposed to a concentration of foreign currency risk, and significant fluctuations
in the EUR or GBP relative to the USD could materially impact reported revenues and results of operations.

Exchange
rates used for the translations are as follows:

SCHEDULE
OF EXCHANGE RATE 

    September 30, 2025  
    December 31, 2024 
  
    Spot 

    USD to EUR 
    $0.8547  
    $0.9615 
  
    USD to GBP 
    $0.7463  
    $0.8000 

    September 30, 2025  
    September 30, 2024 
  
    Average 

    USD to EUR 
    $0.8920  
    $0.9212 
  
    USD to GBP 
    $0.7582  
    $0.7881 

    13

EIGHTCO
HOLDINGS INC.

NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

2.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Earnings
Per Share. The Company follows ASC 260 when reporting Earnings Per Share (“EPS”) resulting in the presentation of basic
and diluted earnings per share. Basic net (loss) income per common share is computed by dividing net (loss) income by the weighted average
number of vested common shares outstanding during the period. Diluted net income per common share is computed by dividing net income
by the weighted average number vested of common shares