Eightco Achieves Revenues of $100mn in Mobile Phone Business
July 23 2024 - 9:00AM
Eightco Holdings Inc. (NASDAQ: OCTO) (the “Company” or “Eightco”)
today announced that its wholly-owned subsidiary, Forever 8 Fund
LLC (“Forever 8”), has reached $100 million in revenues from its
refurbished Apple smartphone division since launching in April
2021.
“We are excited to have reached this milestone
of $100 million in revenue from our refurbished Apple smartphone
division,” said Paul Vassilakos, CEO of Eightco and President of
Forever 8. “Continued growth in the refurbished market for Apple
products, combined with Forever 8’s unique offering, is driving
strong growth for our Company in this sector. We continue to see
significant demand from both our suppliers and customers. As we
continue to scale our business in the refurbished iPhone market, we
are also exploring opportunities to expand into other Apple product
categories, positioning Forever 8 for even greater success.”
Forever 8’s mobile phone division supplies
inventory for refurbished Apple products, including iPhones, iPads,
AirPods, Apple Watches, and the iPad Pencil in the United Kingdom
and European Union. Leveraging a proprietary data-driven tool,
Forever 8 efficiently manages inventory levels and capital,
supporting vendors by optimizing their inventory supply chains and
marketing strategies.
About Eightco
Eightco (NASDAQ: OCTO) is committed to growth of
its subsidiaries, made up of Forever 8 Fund LLC, an inventory
capital and management platform for e-commerce sellers, and
Ferguson Containers, Inc., a provider of complete manufacturing and
logistical solutions for product and packaging needs, through
strategic management and investment. In addition, the Company is
actively seeking new opportunities to add to its portfolio of
technology solutions focused on the e-commerce ecosystem through
strategic acquisitions. Through a combination of innovative
strategies and focused execution, Eightco aims to create
significant value and growth for its portfolio companies and
stockholders.
For additional information, please
visit www.8co.holdings
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. All statements in this press release other than
statements of historical fact could be deemed forward looking.
Words such as “plans,” “expects,” “will,” “anticipates,”
“continue,” “expand,” “advance,” “develop” “believes,” “guidance,”
“target,” “may,” “remain,” “project,” “outlook,” “intend,”
“estimate,” “could,” “should,” and other words and terms of similar
meaning and expression are intended to identify forward-looking
statements, although not all forward-looking statements contain
such terms. Forward-looking statements are based on management’s
current beliefs and assumptions that are subject to risks and
uncertainties and are not guarantees of future performance. Actual
results could differ materially from those contained in any
forward-looking statement as a result of various factors,
including, without limitation: Eightco’s ability to regain and
maintain compliance with the Nasdaq’s continued listing
requirements; unexpected costs, charges or expenses that reduce
Eightco’s capital resources; Eightco’s inability to raise adequate
capital to fund its business; Eightco’s inability to innovate and
attract users for Eightco’s products; future legislation and
rulemaking negatively impacting digital assets; and shifting public
and governmental positions on digital asset mining activity. Given
these risks and uncertainties, you are cautioned not to place undue
reliance on such forward-looking statements. For a discussion of
other risks and uncertainties, and other important factors, any of
which could cause Eightco’s actual results to differ from those
contained in forward-looking statements, see Eightco’s filings with
the Securities and Exchange Commission, including in its Annual
Report on Form 10-K for the fiscal year ended December 31, 2023, as
amended, at www.sec.gov. All information in this press release is
as of the date of the release, and Eightco undertakes no duty to
update this information or to publicly announce the results of any
revisions to any of such statements to reflect future events or
developments, except as required by law.
For further information, please contact:
Investor Relationsinvestors@8co.holdings
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