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Eightco Holdings Inc., formerly Cryptyde, Inc., has officially changed its name, effective April 4, 2023. This strategic rebranding reflects the company's dedication to its primary asset, Forever 8, which is projected to generate $60 million in revenue for fiscal year 2023. CEO Brian McFadden highlighted the shift towards fintech opportunities and away from the increasingly risky crypto landscape. The company's core operations will remain intact, providing e-commerce solutions. Alongside the name change, the stock symbol transitioned from TYDE to OCTO, effective the same day.
Cryptyde, Inc. (NASDAQ: TYDE) will change its name to Eightco Holdings Inc. effective April 3, 2023. The company will also execute a 1-for-50 reverse stock split, reducing its shares from approximately 89.9 million to about 1.8 million. The new stock symbol will be OCTO, starting April 4, 2023. This decision follows stockholder approval granted during a special meeting held on March 15, 2023. The reverse stock split aims to promote growth through strategic acquisitions, enhancing stockholder value.
Cryptyde, Inc. (NASDAQ: TYDE) provided a corporate update on its subsidiary, Forever 8 Fund, LLC, detailing advancements in technology and operations. Forever 8 has launched customer-focused features including demand forecasting algorithms and enhanced supply chain tracking. A partnership with Arca One, LLC is expanding logistics capabilities. The company projects 2023 revenue of over $60 million, relying on Q4 2022's performance and additional capital of $3 million. CEO Brian McFadden emphasized efficient capital use and ongoing client engagement, though these projections carry inherent risks and uncertainties.
Cryptyde (NASDAQ: TYDE) is developing an AI-generated content platform for its subsidiary, Forever 8. This platform aims to streamline content creation for e-commerce, generating engaging materials like product descriptions and customer service responses. By leveraging advanced machine learning, the technology promises human-like interaction, enhancing marketing and support capabilities. CEO Brian McFadden expressed optimism about the platform's potential to drive growth and reach for clients. Cryptyde is committed to utilizing AI for innovative solutions, with progress updates expected as development continues.
Cryptyde, Inc. (NASDAQ: TYDE) has announced a major milestone with its subsidiary, Forever 8, achieving over $1 million in revenue in a single day. This accomplishment highlights Forever 8's growth in the e-commerce cash flow management sector. CEO Brian McFadden emphasized the company's innovative solutions, which disrupt traditional inventory funding models. The strong revenue performance positions Forever 8 as a potential leader in its field, underscoring Cryptyde's commitment to fostering innovation and growth through strategic acquisitions.
Cryptyde, Inc. (NASDAQ: TYDE) announces a projected revenue of $60 million for fiscal year 2023, based on performance from its subsidiaries, Forever 8 Fund and Ferguson Containers. This estimate arises from an internal review of current clients and new business growth potential. CEO Brian McFadden expressed optimism regarding ongoing revenue opportunities. Key elements of the growth strategy involve efficiently acquiring capital and launching new SaaS products. Notably, the revenue projection relies on maintaining Q4 2022 performance and securing $3 million in additional capital. Actual results may vary due to numerous risks.
Cryptyde, Inc. (NASDAQ: TYDE) announced on January 17, 2023, that its Board of Directors declared a dividend of one one-thousandth of a share of newly designated Series A Preferred Stock for each outstanding common share held by shareholders as of January 27, 2023. The dividend shares will be distributed before 5:00 p.m. ET on January 30, 2023. This Series A Preferred Stock will carry voting rights on select corporate matters, with each share providing 1,000,000 votes, subject to limitations. Unclaimed shares will automatically be redeemed by the company. Additional details will be provided in a forthcoming Form 8-K filing.
Cryptyde, Inc. (NASDAQ: TYDE) has released its 2023 corporate presentation, which will be filed with the U.S. Securities and Exchange Commission as a Current Report on Form 8-K. The presentation outlines the company's mission and key business principles, along with details about its subsidiaries, Forever 8 and Ferguson Containers. Cryptyde focuses on acquiring and managing technology-driven businesses, aiming for growth and value creation through strategic development.
Cryptyde, Inc. (NASDAQ: TYDE) has outlined its corporate priorities for 2023, emphasizing growth and innovation through strategic acquisitions and management of its subsidiaries, Forever 8 and Ferguson Containers. CEO Brian McFadden highlighted the encouraging performance of Forever 8, a platform for e-commerce cash flow management. The company's objectives include identifying revenue opportunities, acquiring capital, launching new SaaS products, exploring acquisitions, and adapting to market conditions. McFadden believes Forever 8 has potential to become a leading asset in its field.
Cryptyde (Nasdaq: TYDE) has completed its acquisition of Forever 8 Fund, LLC, targeting the $5 trillion e-commerce market, particularly focusing on Amazon's $600 billion segment. Forever 8 offers inventory purchasing solutions for e-commerce sellers, enabling them to scale operations without upfront financing burdens. The firm has financed over 1,000 SKUs, funded more than $32 million in sales, and maintains a 96% customer retention rate. CEO Brian McFadden emphasizes Forever 8's role in addressing supply chain inefficiencies. Financial results for the period ending September 30, 2022, are available in the company's recent filings.
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