30, 2023 69,660 $ 70 5,107,395 $5,108 $20,434,373 $(10,259,959) $ 109,557 $ - $ 10,289,149
======= ==== ========= ===== ========== =========== === ======== ======= ==========
The accompanying notes are an integral part of these
unaudited consolidated financial statements
Onfolio Holdings, Inc.
Consolidated Statements of Cash Flows
For the Six Months Ended June 30, 2024 and 2023
(Unaudited)
2024 2023
------------ --------------
Cash Flows from Operating Activities
Net loss $(1,412,234) $(2,578,200)
Adjustments to reconcile net loss to net
cash provided by operating activities:
Stock-based compensation expense 45,397 483,597
Equity method income 6,217 (12,095)
Dividends received from equity method
investment - 15,266
Impairment of Cost method investment - -
Loss on sale of asset - -
Amortization of intangible assets 555,802 361,108
Impairment of intangible assets - 189,937
Net change in:
Accounts receivable (174,807) 31,241
Inventory 8,051 (12,854)
Prepaids and other current assets (53,532) 47,791
Accounts payable and other current
liabilities 209,661 (198,231)
Due to joint ventures 29,653 (17,806)
Deferred revenue 22,045 134,071
Due to related parties - -
Net cash used in operating
activities (763,747) (1,556,175)
---------- ----------
Cash Flows from Investing Activities
Proceeds from sale of intangible assets - -
Cash paid to acquire businesses (255,000) (850,000)
Investments in joint ventures (49,000) -
---------- ----------
Net cash used in investing
activities (304,000) (850,000)
---------- ----------
Cash Flows from Financing Activities
Proceeds from sale of Series A preferred
stock 10,000 -
Payments of preferred dividends (151,035) (109,053)
Payment of contribution to joint venture
note payable - -
Distributions to non-controlling
interest holders (3,600)
Proceeds from notes payable 417,900 (40,000)
Payments on note payables (56,516) (49,744)
Proceeds from notes payable - related
parties 200,000
Payments on note payables - related
parties (1,000)
Net cash provided by financing
activities 415,749 (198,797)
---------- ----------
Effect of foreign currency translation (20,238) (30,305)
---------- ----------
Net Change in Cash (672,236) (2,635,277)
Cash, Beginning of Period 982,261 6,701,122
---------- ----------
Cash, End of Period 310,025 $ 4,065,845
========== ==========
Cash Paid For:
Income Taxes $ - $ -
========== ==========
Interest $ 41,700 $ 18,836
========== ==========
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 $ 20 $ -
========== ==========
The accompanying notes are an integral part of these
consolidated financial statements
Onfolio
Weighted Average Common Stock Outstanding
6/30/2024
Year to Date FY 2024 Quarter to Date FY 2023
Total Total
# Average # Issued # Average #
Issued Date # Shares Shares Days Shs Date # Shares Shares Days Shs
----------- --------- --------- ---- ----------- --------- --------- --------- ---- -----------
12/31/2023 5,107,395 5,107,395 173 883,579,335 3/31/2024 5,107,395 5,107,395 82 418,806,390
6/21/2024 20,000 5,127,395 9 46,146,555 6/21/2024 20,000 5,127,395 9 46,146,555
6/30/24 6/30/24
Total 5,127,395 182 929,725,890 Total 5,127,395 91 464,952,945
--------- ---------
Pre acquisition
Total Total
Onfolio Proforma Proforma
YTD Q2 24 before After Previous
DDS Consolidated adjustments Adjustments YTD Three months
DDS Other
Revenue 141,398 3,313,501 3,454,899 3,454,899 1,586,902 1,867,997
COGS 1,333,734 1,333,734 1,333,734 582,566 751,168
------- ---------- ---------- --------- --------- ---------- ----------
Gross Profit 141,398 1,979,767 2,121,165 - 2,121,165 860,917 1,260,248
Operating
Expenses
SG&A 75,473 2,842,204 2,917,677 112,248 3,029,925 1,393,979 1,635,946
Impairment - - - -
Professional
Fees 401,445 401,445 401,445 180,190 221,255
Acquisition
costs 103,287 103,287 (103,287) - - -
Total Operating 75,473 3,346,936 3,422,409 112,248 (103,287) 3,431,370 2,121,446 1,309,924
Operating
Income/loss 65,925 (1,367,169) (1,301,244) (112,248) 103,287 (1,310,205) (1,260,530) (49,676)
Total other
income (45,065) (45,065) (7,000) (52,065) (25,947) (26,118)
------- ---------- ---------- -------- --------- ---------- ----------
Loss before
income taxes 65,925 (1,412,234) (1,346,309) (119,248) 103,287 (1,362,270) (1,213,353) (148,917)
Income tax
(provision)
benefit - - - - -
Net Income
(loss) 65,925 (1,412,234) (1,346,309) (119,248) 103,287 (1,362,270) (1,213,353) (148,917)
======= ========== ========== ======== ======== ========== ==========
Preferred
dividends (166,113) (166,113) (166,113) (51,025) (115,088)
---------- ---------- ----------
net loss
available to
common (1,578,347) (1,512,422) (119,248) 103,287 (1,528,383) (1,264,378) (264,005)
Net Loss per
share (0.30) (0.30) (0.05)
WASO 5,110,195 5,110,195 5,110,195
(END) Dow Jones Newswires
August 15, 2024 09:00 ET (13:00 GMT)
Comments