Eightco Holdings provides update on 2024 achievements year to date

The company said, “The Company has made significant progress in 2024 by improving its balance sheet, most notably through the elimination of $5.4 million in convertible notes and increasing shareholder equity by $23 million. An aggregate of 5,846,627 dilutive shares related to warrants and convertible securities were cancelled in connection therewith, as well as several one-time accounting events. Operationally, during the 6 months ended June 30, 2024: Gross profit margin was increased to 22%, versus 12% in the prior year period; and SG&A was reduced to $6.9 million, down 23% from $9.0 million in the prior year period These improvements helped the Company regain compliance with two NASDAQ requirements, as was announced yesterday.”