Forever 8 and Mobi-hub Ltd. Announce Strategic Partnership for the Refurbished Mobile Phone Industry
May 25 2023 - 6:30AM
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
*
https://www.persistencemarketresearch.com/market-research/refurbished-and-used-mobile-phones-market.asp
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
Forward-Looking Statements
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.
For further information, please
contact: Investor Relations Richard
Brown 617-819-1289 investors@8co.holdings
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