April 15th
Good Evening Reader,
Eightco Holdings Inc. (Nasdaq: OCTO) Is Riding The Waves With A Float Of Under 10M Shares, Consistently Finding Support At The 50MA Since March! The Company’s Powerhouse Consists Of Three Core Ventures: Web3 Innovation, Bitcoin Mining Solutions, And Packaging Excellence!
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Clear your agenda and get ready to witness this game-changing company, dedicated to nurturing its subsidiaries. Meet Forever 8, the ultimate inventory management platform for e-commerce gurus, and Ferguson Containers, Inc., your one-stop solution for manufacturing and logistics. With strategic investments and management, this is one stock you won't want to miss before the market opens!
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Eightco Holdings Inc.
In summary, OCTO is all about driving revenue growth through its subsidiaries, Forever 8 and Ferguson Containers. They're eyeing strategic expansion for Forever 8 while keeping revenue growth in focus. Forever 8 pulls in revenue from product transactions, while the Packaging Business cashes in on goods and related services sales. They're constantly evaluating their businesses to use resources efficiently and grab growth opportunities. With their fingers in various industries and revenue sources, OCTO's management feels confident navigating economic shifts and changing customer preferences. As for Eightco Holdings Inc., they're aiming for growth through a mix of organic methods and strategic acquisitions. While they're open to acquisitions for Packaging and Forever 8, they believe that ongoing sales efforts are the real key to success.
Most Notable Catalysts for OCTO:
● 2023 revenues totaled $75.3 million, marking a 137% increase from the previous year's $31.8 million.
● Cell phone sales were the primary driver behind this revenue growth, surpassing the guidance of $73.0 million.
● SG&A expenses, excluding Depreciation & Amortization, amounted to $5.2 million in 2023, showing a remarkable 45% decrease due to the elimination of costs associated with past business efforts.
● Paul Vassilakos, CEO of Eightco and President of Forever 8 Fund, LLC ("Forever 8"), highlighted the revenue boost, emphasizing the growth in the cell phone business. He emphasized ongoing efforts to enhance cost structures and prioritize high-growth areas for sustained profitability.
● In the first quarter of 2024, the Company completed the final repayment ahead of schedule under the Prepayment and Redemption Agreement with Hudson Bay Master Fund Ltd., settling the remaining principal due under the Senior Secured Convertible Note issued to Hudson Bay in March 2023. This repayment significantly lowers debt levels and enhances the Company's capacity to attract efficient capital for the expansion of its subsidiary, Forever 8 Fund, LLC.
● The Company continues its efforts to streamline ongoing costs at the parent company level, aiming to allocate resources effectively for growth through its primary subsidiary, Forever 8.
● Paul N. Vassilakos has been appointed as the Company's Executive Chairman and Chief Executive Officer, with his extensive expertise in the Forever 8 business and substantial experience in public markets positioning him to lead Eightco's growth trajectory.
