Core Viewpoint Onfolio Holdings Inc. reported strong financial growth in the second quarter of 2024, with significant increases in revenue and gross profit, while also achieving a notable reduction in operating expenses and net loss compared to the previous year. Financial Performance - Second quarter revenue increased by 32% to $1.73 million, compared to $1.31 million in the same period last year and $1.59 million in the first quarter of 2024 [2] - Gross profit for the second quarter rose by 18% to $0.975 million, up from $0.82 million year-over-year and $1 million in the previous quarter [2] - Total operating expenses decreased by 18% to $1.73 million, down from $2.12 million in the prior year and $1.67 million in the first quarter of 2024 [2] - The net loss attributable to common shareholders decreased by 36% to $0.86 million, compared to $1.34 million in the same period last year and $0.63 million in the first quarter of 2024 [2] Cash Flow and Operations - Cash used in operations for the quarter was $332,000, the lowest since the company's IPO, compared to $534,000 during the same period in 2023 and $400,000 in the first quarter of 2024 [2] - Cash at the end of the second quarter was $0.31 million, down from $0.98 million at the end of 2023 [2] Acquisition Strategy - The company completed one new acquisition in June 2024, DDS Rank, funded by a Special Purpose Vehicle (SPV), allowing for minimal cash usage [3] - Onfolio maintains an active acquisition pipeline and expects the SPV model to facilitate future acquisitions [4] - Discussions with lenders regarding debt financing are ongoing to enhance cash reserves and extend operational runway [4] Profitability Outlook - Internal modeling suggests that Onfolio may achieve profitability without further acquisitions, as margin improvements continue [5]

DDS Rank provides dentists with digital marketing services including search-engine optimization, paid advertising, and web design. During 2023, DDS Rank generated approximately $310,000 in revenue and $190,000 in unaudited adjusted earnings before interest, taxes, depreciation and amortization ("EBITDA"). WILMINGTON, Del., June 24, 2024 (GLOBE NEWSWIRE) -- Onfolio Holdings Inc. (Nasdaq: ONFO, ONFOW) (the "Company" or "Onfolio"), a company that acquires and manages a diversified portfolio of online businesse ...

DDS Rank provides dentists with digital marketing services including search-engine optimization, paid advertising, and web design. During 2023, DDS Rank generated approximately $310,000 in revenue and $190,000 in unaudited adjusted earnings before interest, taxes, depreciation and amortization ("EBITDA"). Onfolio believes that within the next 1 or 2 fiscal quarters, it can double the revenue and EBITDA of DDS Rank through increased marketing efforts and operational improvements. On the deal structure, Wells ...

WILMINGTON, Del., June 07, 2024 (GLOBE NEWSWIRE) -- Onfolio Holdings Inc. (Nasdaq: ONFO, ONFOW) (the "Company" or "Onfolio"), a company that acquires and manages a diversified portfolio of online businesses, today announced that it has entered into an agreement to acquire the majority interest in the assets of SEO Marketing Inc. doing business as "DDS Rank." The company expects the acquisition to close early next week. The acquisition was made possible with the assistance of Onfolio's Special Purpose Vehicl ...

Acquisition Details - Onfolio Holdings Inc has entered into an agreement to acquire a majority interest in SEO Marketing Inc (DDS Rank) for $600,000 [1][7] - The acquisition is structured with $200,000 from Onfolio's Special Purpose Vehicle (SPV) for 34% ownership and $200,000 in Series A Preferred Shares plus a $200,000 secured promissory note for 66% ownership [7] - The deal is expected to close early next week without using any cash or common shares from Onfolio Holdings [2][7] Company Overview - Onfolio Holdings acquires and manages a diversified portfolio of online businesses that meet specific investment criteria including long-term growth opportunities, stable cash flows, and minimal technological obsolescence risks [4] - The company specializes in acquiring under-optimized businesses and enhancing their value through operational improvements and marketing efforts [4] - Onfolio expects to close another acquisition this month and achieve profitability in the near term [4] DDS Rank Business Profile - DDS Rank provides digital marketing services to dentists including SEO, paid advertising, and web design [9] - In 2023, DDS Rank generated $310,000 in revenue and $190,000 in unaudited adjusted EBITDA [9] - Approximately 91% of DDS Rank's revenue comes from subscription-based recurring services [7] Growth Expectations - Onfolio believes it can double DDS Rank's revenue and EBITDA within the next 1-2 fiscal quarters through increased marketing and operational improvements [3] - The company aims to increase DDS Rank's annualized revenue to over $600,000 and EBITDA to over $400,000 within months [13] Financial Structure - The Series A Preferred Shares and secured promissory notes issued by Onfolio pay dividends and interest but are not convertible into common shares [10] - Onfolio's SPV continues to raise non-dilutive capital to support acquisitions [6][7]

WILMINGTON, Del., May 29, 2024 (GLOBE NEWSWIRE) -- Onfolio Holdings Inc. (Nasdaq: ONFO, ONFOW) (the "Company" or "Onfolio"), a holding company that acquires and manages a diversified portfolio of online businesses across a broad range of verticals, today announced that its Subsidiary, RevenueZen LLC, has closed on an asset purchase agreement (the "Agreement") with First Page LLC, a Washington limited liability company ("First Page Strategy"), whereby RevenueZen, acquired substantially all of First Page Stra ...

WILMINGTON, Del., May 29, 2024 (GLOBE NEWSWIRE) -- Onfolio Holdings Inc. (Nasdaq: ONFO, ONFOW) (the "Company" or "Onfolio"), a holding company that acquires and manages a diversified portfolio of online businesses across a broad range of verticals, today announced that its Subsidiary, RevenueZen LLC, has closed on an asset purchase agreement (the "Agreement") with First Page LLC, a Washington limited liability company ("First Page Strategy"), whereby RevenueZen, acquired substantially all of First Page Stra ...

WILMINGTON, Del., May 21, 2024 (GLOBE NEWSWIRE) -- Onfolio Holdings Inc. (NASDAQ: ONFO, ONFOW) ("Onfolio" or the "Company"), a holding company that acquires and manages a diversified portfolio of online businesses across a broad range of verticals, announces financial results for the first quarter ended March 31st 2024. Financial Highlights "The first quarter of 2024 saw our revenue improve, gross margins improve, and net loss decrease significantly. Our cash used in operations for the quarter was $431,007, ...

WILMINGTON, Del., May 21, 2024 (GLOBE NEWSWIRE) -- Onfolio Holdings Inc. (NASDAQ: ONFO, ONFOW) ("Onfolio" or the "Company"), a holding company that acquires and manages a diversified portfolio of online businesses across a broad range of verticals, announces financial results for the first quarter ended March 31st 2024. Financial Highlights "The first quarter of 2024 saw our revenue improve, gross margins improve, and net loss decrease significantly. Our cash used in operations for the quarter was $431,007, ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________to ___________ Commission File Number: 001-41466 ONFOLIO HOLDINGS INC. (Exact Name of Registrant as Specified in its Charter) (State or other jurisdict ...