Gold prices edge lower; heading for weekly losses ahead of U.S.-Russia talks
Eightco Holdings Inc. (NASDAQ:OCTO), a micro-cap company with a market value of $4.14 million, has entered into settlement agreements with several third parties, including current and former officers and directors, to resolve liabilities owed by the company. The agreements were finalized on May 30, June 2, and June 5, 2025, according to a recent SEC filing. InvestingPro data shows the company operates with a concerning current ratio of 0.34, indicating potential liquidity challenges.
The company successfully negotiated a reduction of its liabilities from over $2.2 million to approximately $1.1 million. Notable individuals involved in the settlement include Brett Vroman, the Chief Financial Officer, and Kevin O’Donnell, a board member. Eightco Holdings has agreed to pay the reduced amount over the next eight months.
This information is based on a press release statement filed with the Securities and Exchange Commission.
In other recent news, Eightco Holdings Inc. has made significant strides in its strategic initiatives. The company completed the sale of its subsidiary, Ferguson Containers, Inc., to Reichard Corrugated Products, LLC. This move allows Eightco to concentrate on its core business, Forever 8 Fund, LLC, which specializes in inventory and cash flow management for e-commerce. CEO Paul Vassilakos expressed satisfaction with the divestiture, viewing it as a milestone for both Eightco and the acquiring company. Additionally, Eightco Holdings appointed Nicola Caiano to its Board of Directors. Caiano, the CFO at Cytometric Therapeutics, brings over 30 years of financial expertise to the company. His appointment is part of Eightco’s efforts to enhance its leadership team with industry experts. The company remains committed to expanding its portfolio of technology solutions, aiming to deliver growth and value to its stockholders.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.