secwatch.observer — SEC 8-K summary
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Issuer:     Onfolio Holdings, Inc (ONFO)
CIK:        0001825452
Form:       8-K/A
Filed at:   2024-03-15T23:59:59+00:00
Accession:  0001654954-24-003223
Event type: m_and_a
Sentiment:  negative
Materiality: 0.75
Item codes: 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Onfolio completes $1.33M acquisition of RevenueZen; 2023 revenue $1.41M, net loss $121k
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- Total consideration $1.332M: $240k cash, $425k preferred shares, $440k 11% note due 2025, up to $227k earn-out.
- RevenueZen audited 2023 revenue $1.414M, net loss $121k; 2022 revenue $2.667M, net income $375k.
- Founders received 12% equity in new subsidiary and 270k options at $0.51 per share strike.
- RevenueZen members' equity fell to $76k at Dec 31, 2023 from $444k in 2022 due to losses and distributions.
- Unaudited pro forma combined financials included as if acquisition occurred on Sep 30, 2023 and Oct 1, 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1825452/000165495424003223/0001654954-24-003223-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1825452/000165495424003223/onfo_8ka.htm
  HTML page:      https://secwatch.observer/filing/0001654954-24-003223

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer