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