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CONVERTIBLE NOTES PAYABLE
6 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
CONVERTIBLE NOTES PAYABLE

16. CONVERTIBLE NOTES PAYABLE

 

During 2023, the Company had two senior secured convertible notes outstanding with an accredited investor (the “Note Investor”): a note issued in January 2022 with an original principal amount of $33,333,333 (the “January 2022 Note”) and a note issued in March 2023 with an original principal amount of $5,555,000 (the “March 2023 Note”). Both notes were issued at an original issue discount and included embedded conversion features and detachable warrants, which resulted in the recognition of significant debt discounts and warrant-related expenses in prior periods. These convertible notes were repaid in full during 2023 and 2024.

 

For the three and six months ended June 30, 2024, interest expense under convertible notes payable was $0 and $277,750, of which $0 and $277,750 was related to amortization of the debt discount, respectively.

 

No convertible notes or related instruments were outstanding as of June 30, 2025 with the Note Investor.

 

 

EIGHTCO HOLDINGS INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)