Onfolio Holdings, Inc. (NASDAQ:ONFO), an operator and acquirer of online businesses, announced that its stockholders’ equity has risen above the $2.5 million minimum required for continued listing on the Nasdaq Capital Market, as the company continues efforts to address its balance sheet and listing requirements.
Nasdaq granted Onfolio an extension in October until November 23, 2026, to demonstrate compliance with the stockholders’ equity requirement. The company intends to submit the necessary confirmation, although its compliance status remains subject to Nasdaq’s determination.
Nasdaq Listing Requirements
Onfolio also addressed Nasdaq’s minimum bid price requirement of $1.00 per share.
At a special meeting held on November 5, 2026, shareholders approved granting the board authority to implement one or more reverse stock splits, if necessary, to maintain compliance with the exchange’s minimum bid price rules.
The company has not announced whether it intends to exercise that authority.
Balance Sheet and Debt Repayment
Onfolio confirmed that it currently has no outstanding convertible notes, while its existing financing facility with an institutional investor remains available.
In October, the company completed a $450,000 initial payment under its forbearance agreement with the sellers of Eastern Standard. The payment was funded through the sale of a portion of Onfolio’s digital assets.
The remaining balance under the agreement is scheduled to be repaid in monthly installments through July 2027.
Onfolio said reducing its outstanding debt remains a corporate priority.
Acquisition Pipeline Remains Active
The company reported that all previously announced letters of intent relating to potential acquisitions remain in place, with additional agreements being finalised.
Onfolio indicated that it could complete one or two acquisitions in the near term, particularly after resolving its Nasdaq listing compliance matters.
However, the company cautioned that acquisition transactions involve multiple parties and that completion schedules remain uncertain. It therefore does not intend to provide specific target closing dates for future transactions.
“We’ve spent the last few months working through the balance sheet, and it’s in a much better place,” said Dominic Wells, chief executive officer of Onfolio.
“Our equity is back above the Nasdaq minimum, we have no convertible notes outstanding, and we met the Eastern Standard payment on time. That puts us in a stronger position to get acquisitions closed, which is where our focus is now.”
Onfolio acquires and operates online businesses across sectors including marketing, education and e-commerce. The company also incorporates artificial intelligence tools into its operations and product development activities.