Onfolio Holdings Inc

NASDAQ:ONFOUnited States

Nov 15, 2024

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• -- Earnings Flash (ONFO) ONFOLIO HOLDINGS Reports Q3 Revenue $2M, from 9:25AM ET on Friday Nov 15, 2024 by MT Newswires

  9:25AM ET on Friday Nov 15, 2024 by MT Newswires
  Companies Mentioned: ONFO
  09:25 AM EST, 11/15/2024 (MT Newswires) -- ...

• Press Release: Onfolio Holdings Inc. Announces Third Quarter 2024 Financial Results and Provides Corporate Update, from 9:00AM ET on Friday Nov 15, 2024 by Dow Jones

  9:00AM ET on Friday Nov 15, 2024 by Dow Jones
  Companies Mentioned: ONFO

• Onfolio Holdings Inc. Announces Third Quarter 2024 Financial Results and Provides Corporate Update, from 9:00AM ET on Friday Nov 15, 2024 by Dow Jones

  9:00AM ET on Friday Nov 15, 2024 by Dow Jones
  Companies Mentioned: ONFO
  ======= ==== ========= ===== ========== =========== === ========= ======== ========== Balance, December 31, 2022 69,660 70 5,107,395 5,108 19,950,776 (7,580,490) 96,971 - 12,472,435 Stock-based compensation - - - - 233,355 - - - 233,355 Preferred dividends - - - - - (51,025) - - (51,025) Foreign currency translation - - - - - - (7,481) - (7,481) Net loss - - - - - (1,284,075) - - (1,284,075) ------- ---- --------- ----- ---------- ----------- --- --------- -------- ---------- Balance, March 31, 2023 69,660 70 5,107,395 5,108 20,184,131 (8,915,590) 89,490 - 11,363,209 Stock-based compensation - - - - 250,242 - - - 250,242 Preferred dividends - - - - - (50,244) - - (50,244) Foreign currency translation - - - - - - 20,067 - 20,067 Net loss - - - - - (1,294,125) - - (1,294,125) ------- ---- --------- ----- ---------- ----------- --- --------- -------- ---------- Balance, June 30, 2023 69,660 $ 70 5,107,395 $5,108 $20,434,373 $(10,259,959) $ 109,557 $ - $ 10,289,149 ======= ==== ========= ===== ========== =========== === ========= ======== ========== Stock-based compensation - - - - 86,436 - - - 86,436 Preferred dividends - - - - - (54,231) - - (54,231) Foreign currency translation - - - - - - (35,647) - (35,647) Net loss - - - - - (4,733,159) - - (4,733,159) ------- ---- --------- ----- ---------- ----------- --- --------- -------- ---------- Balance, September 30, 2023 69,660 $ 70 5,107,395 $5,108 $20,520,809 $(15,047,349) $ 73,910 $ - $ 5,552,548 ======= ==== ========= ===== ========== =========== === ========= ======== ========== The accompanying notes are an integral part of these unaudited consolidated financial statements Onfolio Holdings, Inc. Consolidated Statements of Cash Flows For the Nine Months Ended September 30, 2024 and 2023 (Unaudited) 2024 2023 Cash Flows from Operating Activities Net loss $(1,909,993) $(7,311,359) Adjustments to reconcile net loss to net cash provided by operating activities: Stock-based compensation expense 52,035 570,033 Equity method income 5,560 (14,921) Dividends received from equity method investment - 20,473 Amortization of intangible assets 891,288 549,914 Impairment of intangible assets 4,677 3,952,516 Net change in: Accounts receivable (136,594) 40,076 Inventory 37,307 (9,363) Prepaids and other current assets (44,208) 90,623 Accounts payable and other current liabilities 292,900 (119,265) Due to joint ventures 24,958 (45,232) Deferred revenue 37,281 115,709 Due to related parties - - Net cash used in operating activities (744,789) (2,160,796) ---------- ---------- Cash Flows from Investing Activities Cash paid to acquire businesses (255,000) (850,000) Investments in joint ventures (34,000) - Investment in cryptocurrency (15,000) - ---------- ---------- Net cash used in investing activities (304,000) (850,000) ---------- ---------- Cash Flows from Financing Activities Proceeds from sale of Series A preferred stock 20,000 - Proceeds from exercise of stock options 12,960 Payments of preferred dividends (234,596) (160,563) Distributions to non-controlling interest holders (11,400) Proceeds from notes payable 732,300 (40,000) Payments on note payables (238,046) (68,959) Proceeds from notes payable - related parties 200,000 Payments on note payables - related parties (1,000) Net cash provided by financing activities 480,218 (269,522) ---------- ---------- Effect of foreign currency translation (50,446) (47,626) ---------- ---------- Net Change in Cash (619,017) (3,327,944) Cash, Beginning of Period 982,261 6,701,122 ---------- ---------- Cash, End of Period 363,244 $ 3,373,178 ========== ========== Cash Paid For: Income Taxes $ - $ - ========== ========== Interest $ 60,564 $ 61,141 ========== ========== Non-cash transactions: Notes payable issued for asset acquisitions $ 640,000 $ - ========== ========== Preferred stock issued for acquisitions $ 625,000 $ - ========== ========== Contingent consideration issued for acquisitions $ 1,869,000 $ - ========== ========== Common stock options issued for acquisitions $ 60,000 $ - ========== ========== Non-controlling interest issued for acquisitions $ 126,000 $ - ========== ========== Shares issued for conversion of $ - $ - options ========== ========== The accompanying notes are an integral part of these consolidated financial statements