Financial Performance and Achievements - The company improved its balance sheet by eliminating 23 million [2] - 5,846,627 dilutive shares related to warrants and convertible securities were canceled [2] - Gross profit margin increased to 22% in the first half of 2024, up from 12% in the prior year period [2] - SG&A expenses were reduced to 9.0 million in the prior year period [2] - The company regained compliance with two NASDAQ requirements [2] 2025 Growth Strategy - The primary focus is on growing Forever 8 Fund LLC, which operates in inventory solutions for e-commerce sellers and refurbished Apple products in the US, UK, and Europe [3] - Forever 8 buys existing inventory and commits to purchasing future inventory directly from suppliers, maintaining specific inventory levels to enhance sales [3] - The company plans to seek non-dilutive senior debt financing to replace capital used for convertible notes repayment in Q1 2024 [4] - The company aims to achieve $100 million in revenue and positive EBITDA at the public company level in 2025 [4] - Forever 8's scalable platform is expected to deploy significant additional capital due to high inbound demand [4] Management and Future Outlook - The CEO emphasized the focus on prioritizing Forever 8 to deliver growth and shareholder value in 2025 [5] - The company is actively seeking new opportunities to expand its portfolio of technology solutions in the e-commerce ecosystem through strategic acquisitions [5] - Eightco aims to create significant value and growth for its portfolio companies and stockholders through innovative strategies and focused execution [5]
Eightco Announces $100 million Revenue Forecast – Releases 2025 Strategic Plan