Eightco Holdings Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Eightco Holdings Inc. (ORBS) filed its Q1 2024 10-Q, detailing financial positions and historical company information.</b>

AI Summary

Eightco Holdings Inc. (ORBS) filed a Quarterly Report (10-Q) with the SEC on May 15, 2024. Eightco Holdings Inc. filed a 10-Q report for the period ending March 31, 2024. The company's previous name was Cryptyde, Inc., with a name change effective November 5, 2021. Eightco Holdings Inc. is classified under SIC code 6153: Short-Term Business Credit Institutions. The filing includes data related to common stock, additional paid-in capital, noncontrolling interest, retained earnings, and accumulated other comprehensive income for various periods. The report details financial information for related and non-related parties for Q1 2024 and Q1 2023.

Why It Matters

For investors and stakeholders tracking Eightco Holdings Inc., this filing contains several important signals. This filing provides the latest quarterly financial snapshot for Eightco Holdings Inc., crucial for investors to assess performance and financial health. Understanding the company's financial structure, including equity and retained earnings, is key to evaluating its long-term viability and growth potential.

Risk Assessment

Risk Level: low — Eightco Holdings Inc. shows low risk based on this filing. The filing is a standard 10-Q, providing routine financial disclosures without immediate indicators of significant financial distress or positive catalysts.

Analyst Insight

Monitor future 10-Q filings for revenue trends, profitability, and changes in debt levels to assess Eightco Holdings Inc.'s financial trajectory.

Key Numbers

• 2024-03-31 — Period End Date (Conformed period of report)
• 2024-05-15 — Filing Date (Filed as of date)
• 6153 — SIC Code (Standard Industrial Classification)
• 1231 — Fiscal Year End (Fiscal year end)

Key Players & Entities

• Eightco Holdings Inc. (company) — Filer name
• ORBS (company) — Ticker symbol
• Cryptyde, Inc. (company) — Former company name
• 2024-03-31 (date) — Conformed period of report
• 2024-05-15 (date) — Filed as of date
• 101 LARRY HOLMES DR. SUITE 313 (address) — Business address
• PA (location) — State of incorporation
• DE (location) — State of incorporation

FAQ

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-15: Filing Date — Date the 10-Q was officially filed with the SEC.
• 2021-11-05: Company Name Change — Date Eightco Holdings Inc. changed its name from Cryptyde, Inc.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides an update on the company's financial performance and position between annual reports.)

SIC Code

Standard Industrial Classification code used to classify businesses by industry. (Helps categorize Eightco Holdings Inc. within the financial sector, specifically short-term business credit institutions.)

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value per share OCTO The Nasdaq

Filing Documents

• form10-q.htm (10-Q) — 1136KB
• ex31-1.htm (EX-31.1) — 14KB
• ex31-2.htm (EX-31.2) — 14KB
• ex32-1.htm (EX-32.1) — 8KB
• 0001493152-24-019975.txt (&nbsp;) — 7150KB
• octo-20240331.xsd (EX-101.SCH) — 66KB
• octo-20240331_cal.xml (EX-101.CAL) — 79KB
• octo-20240331_def.xml (EX-101.DEF) — 303KB
• octo-20240331_lab.xml (EX-101.LAB) — 426KB
• octo-20240331_pre.xml (EX-101.PRE) — 384KB
• form10-q_htm.xml (XML) — 1020KB

Financial Statements

Financial Statements 5 Condensed Consolidated Balance Sheets as of March 31, 2024 (Unaudited) and December 31, 2023 5 Condensed Consolidated Statements of Operations for the three months ended March 31, 2024 and 2023 (Unaudited) 6 Condensed Consolidated Statements of Comprehensive Loss for the three months ended March 31, 2024 and 2023 (Unaudited) 7 Condensed Consolidated Statements of Changes in Stockholders' Equity for the three months ended March 31, 2024 and 2023 (Unaudited) 8 Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2024 and 2023 (Unaudited) 9 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 27 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 39 Item 4.

Controls and Procedures

Controls and Procedures 39 PART II 40 Item 1.

Legal Proceedings

Legal Proceedings 40 Item 1A.

Risk Factors

Risk Factors 40 Item 2. Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities 40 Item 3. Defaults Upon Senior Securities 40 Item 4. Mine Safety Disclosures 40 Item 5. Other Information 40 Item 6. Exhibits 41

Signatures

Signatures 43 2 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q for the period ended March 31, 2024 (the "Quarterly Report") contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These statements relate to future events including, without limitation, our ability to raise capital, our operational and strategic initiatives or our future financial performance. We have attempted to identify forward-looking statements by using terminology such as "anticipates," "believes," "expects," "can," "continue," "could," "estimates," "expects," "intends," "may," "plans," "potential," "predict," "should" or "will" or the negative of these terms or other comparable terminology. These statements are only predictions; uncertainties and other factors may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels or activity, performance or achievements expressed or implied by these forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Our expectations are as of the date this Quarterly Report is filed, and we do not intend to update any of the forward-looking statements after the date this Quarterly Report is filed to confirm these statements to actual results, unless required by law. You should not place undue reliance on forward-looking statements. These forward-looking statements are subject to certain risks and uncertainties, and actual results may differ materially from those in the forward-looking statements. Factors that could cause or contribute to these differences include those discussed in "Risk Factors," in Part II, Item 1A of this Report as well as inf

Business

Business Combinations . For business combinations that meet the accounting definition of a business, the Company determines and allocates the purchase price of an acquired company to the tangible and intangible assets acquired, the liabilities assumed, and noncontrolling interest, if applicable, as of the date of acquisition at fair value. Fair value may be estimated using comparable market data, a discounted cash flow method, or a combination of the two. In the discounted cash flow method, estimated future cash flows are based on management's expectations for the future. Revenues and costs of the acquired companies are included in the Company's operating results from the date of acquisition. The Company uses its best estimates and assumptions as part of the purchase price allocation process to accurately value assets acquired and liabilities assumed at the acquisition date, and these estimates and assumptions are inherently uncertain and subject to refinement during the measurement period not to exceed one year from the acquisition date. As a result, any adjustment identified subsequent to the measurement period is included in operating results in the period in which the amount is determined. Cash and Cash Equivalents . The Company considers all highly liquid, short-term investments with original maturities of six months or less when purchased to be cash equivalents. Accounts Receivable . Accounts receivable are carried at their contractual amounts, less an estimated allowance for credit losses. Management estimates the allowance for credit losses using a loss-rate approach based on historical loss information, adjusted for management's expectations about current and future economic conditions, as the basis to determine expected credit losses. Management exercises significant judgment in determining expected credit losses. Key inputs include macroeconomic factors, industry trends, the creditworthiness of counterparties, historical experience, the financial con