Safety Harbor, FL, May 25, 2023 (GLOBE NEWSWIRE) -- Forever 8, a subsidiary of Eightco Holdings Inc. (NASDAQ: OCTO) announced today the launch of Mobi-hub Funding, a strategic initiative created in collaboration with client Mobi-hub Ltd. The new partnership targets inventory management solutions within the burgeoning refurbished mobile phone market.
Mobi-hub Funding utilizes the expertise of both organizations, capitalizing on their collective strengths to redefine industry standards. Mobi-hub Ltd. will spearhead client-facing initiatives, driving sales and acquiring new clients. Forever 8 will assume responsibility for seamless back-end operations with a concentration on inventory management. Together, this collaboration is expected to allow the company to supply crucial inventory and vital resources, while concurrently driving business growth within the $55.7 bn. used mobile phone and accessories market*.
"We are delighted to embark on this groundbreaking partnership with Mobi-hub and unveil our new enterprise designed specifically for the mobile phone industry," said Paul Vassilakos, President of Forever 8. "With the smartphone market rapidly expanding, we recognize the tremendous market opportunity presented. We are eager to broaden our offering alongside an industry leader like Mobi-hub."
About Forever 8, LLC
Forever 8 is a leading provider of cash-flow management solutions and standardized information for small to medium-sized businesses. Our innovative platform addresses the challenges faced by e-commerce sellers in managing inventory capital, offering flexible and scalable tools. By eliminating the need for personal guarantees and fixed amortization schedules, we empower businesses to optimize their cash-flow process. With a strong focus on customer satisfaction, we have assisted numerous clients in effectively managing their cash flow and unlocking their growth potential.
For additional information, please visit www.forever8.com
About Eightco Holdings Inc.
Eightco Holdings Inc. (NASDAQ: OCTO) is committed to growth focused around its existing subsidiaries, Forever 8, an inventory management platform for e-commerce sellers, and Ferguson Containers, 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 Holdings Inc. aims to create significant value and growth for its portfolio companies and shareholders.
For additional information, please visit www.8co.holdings
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: the failure to achieve the expected benefits of the Inventory Management Agreement with Mobi-hub; the potential that the expected benefits of Eightco Holdings Inc.’s acquisition of Forever 8 are not achieved; unexpected costs, charges or expenses that reduce Eightco Holdings Inc.’s capital resources; Eightco Holdings Inc.’s inability to raise adequate capital to fund its business; Eightco Holdings Inc.’s ability to repay its debts; and Eightco Holdings Inc.’s inability to innovate and attract users for Eightco Holdings Inc.’s products. 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 Holdings Inc.’s actual results to differ from those contained in forward-looking statements, see Eightco Holdings Inc.’s filings with the Securities and Exchange Commission (SEC), including the section titled “Risk Factors” in Eightco Holdings Inc.’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. All information in this press release is as of the date of the release, and Eightco Holdings Inc. 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.
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