NASDAQ Grants Eightco's Request for Continued Listing on The Nasdaq Capital Market

Core Viewpoint - Eightco Holdings Inc. has received approval from the Nasdaq Hearings Panel for continued listing on The Nasdaq Capital Market, contingent upon meeting specific conditions by August 23, 2024 [1][6] Financial Restructuring - The company has undertaken significant financial restructuring measures, resulting in an improvement of shareholder equity by over $23 million [6] - Key actions include repaying restrictive promissory notes, eliminating 5.8 million warrants, cancelling $3.0 million in interest obligations, and converting $1.1 million of interest obligations into 1.4 million shares of common stock [2][6] - Additional cancellations include $6.1 million in earnout consideration, $5.4 million in other outstanding promissory notes, a $6.5 million liability to Vinco Ventures, and a $0.93 million lease liability [2] Stock Performance and Market Capitalization - The company currently has approximately 8.8 million shares outstanding, leading to a market capitalization of about $4.0 million based on the closing price on June 28, 2024 [7] - Management believes that the current market capitalization does not accurately reflect the company's progress in enhancing shareholder equity and operational efficiencies [7] Business Strategy - Eightco is focused on the growth of its subsidiaries, including Forever 8 Fund LLC and Ferguson Containers, through strategic management and investment [10] - The company is actively seeking new opportunities to expand its portfolio of technology solutions within the e-commerce ecosystem through strategic acquisitions [10]