Eightco Holdings Inc. Files Q1 2024 10-Q/A Update

TL;DR

Eightco (fka Cryptyde) filed an amended Q1 10-Q. Check financials.

AI Summary

Eightco Holdings Inc. filed a 10-Q/A on August 14, 2024, for the period ending March 31, 2024. The company, formerly known as Cryptyde, Inc., is a short-term business credit institution. The filing provides updated financial information for the first quarter of 2024 and comparative periods.

Why It Matters

This amended filing provides updated financial details for Eightco Holdings Inc., crucial for investors and analysts assessing the company's performance and financial health in early 2024.

Risk Assessment

Risk Level: medium — As a financial institution, Eightco Holdings Inc. is subject to inherent risks related to credit, market, and regulatory changes.

Key Numbers

• 10-Q/A — Filing Type (Indicates an amendment to a quarterly report)
• 20240331 — Reporting Period End (The financial period covered by the report)
• 20240814 — Filing Date (The date the amended report was submitted)

Key Players & Entities

• Eightco Holdings Inc. (company) — Filer of the 10-Q/A
• Cryptyde, Inc. (company) — Former name of Eightco Holdings Inc.
• 20240814 (date) — Filing date of the 10-Q/A
• 20240331 (date) — Period end date for the filing

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value per share OCTO The Nasdaq
• $3,006,896 — interest, amounting to an aggregate of $3,006,896, was previously recognized as other inc

Filing Documents

• form10-qa.htm (10-Q/A) — 1084KB
• ex31-1.htm (EX-31.1) — 14KB
• ex31-2.htm (EX-31.2) — 14KB
• ex32-1.htm (EX-32.1) — 8KB
• 0001493152-24-032436.txt ( ) — 7358KB
• octo-20240331.xsd (EX-101.SCH) — 69KB
• octo-20240331_cal.xml (EX-101.CAL) — 80KB
• octo-20240331_def.xml (EX-101.DEF) — 317KB
• octo-20240331_lab.xml (EX-101.LAB) — 434KB
• octo-20240331_pre.xml (EX-101.PRE) — 398KB
• form10-qa_htm.xml (XML) — 1053KB

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