secwatch.observer — SEC 8-K summary
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Issuer:     Onfolio Holdings, Inc (ONFO)
CIK:        0001825452
Form:       8-K/A
Filed at:   2025-02-28T23:59:59+00:00
Accession:  0001654954-25-002046
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 9.01
LLM model:  deepseek-v4-flash:cloud

Onfolio Holdings files amended 8-K with financials for Eastern Standard LLC asset purchase
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- Acquired substantially all assets of Eastern Standard LLC on Oct 18, 2024 for total consideration of $2,160,000.
- Consideration included $1,250,000 in secured promissory notes, $410,000 in Series A Preferred Shares, and $500,000 cash from SPV funding program.
- Eastern Standard's unaudited revenue for nine months ended Sep 30, 2024 was $3,453,126, with net income of $506,023.
- Eastern Standard settled a note payable with member David Wolf for $376,917 on Sep 19, 2024.
- Sellers retain a 10% roll-over equity interest in Eastern Standard Delaware post-acquisition.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1825452/000165495425002046/0001654954-25-002046-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1825452/000165495425002046/onfo_8ka.htm
  HTML page:      https://secwatch.observer/filing/0001654954-25-002046

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