ONFO — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-19

• The second quarter of 2026 saw continued integration of our agencies, while the Company focused on improving operating results across the portfolio. Revenue for the quarter was $1.50 million, compared to $3.15 million in Q2 2025. Loss from operations was $0.97 million, compared to $0.51 million in Q…

• The second quarter was a challenging one, with our portfolio companies focused on preserving cash flow and reducing expenses. There were standout performers, notably RevenueZen, whose results improved significantly after Eastern Standard took over management of its fulfilment, but overall portfolio …

• On April 10, 2026, we entered into an equity purchase agreement with an institutional investor providing for the sale of up to $100 million of newly issued common stock, subject to the conditions described in Note 8. We believe this equity purchase facility can provide financing to grow our portfoli…

• Management is also exploring acquisitions in which a substantial portion of the purchase price would be deferred, which could allow us to add profitable operations before accessing additional capital.

• A principal focus of management is on cash and on managing our debt. Subsequent to June 30, 2026, we settled the remaining balance owed under our Senior Secured Convertible Notes, including accrued liquidated damages and Floor Penalties, through the issuance of common stock, and no principal remaine…

Text removed vs the prior filing · source: 10-Q · 2026-05-15

• The first quarter of 2026 was a transitional quarter during which we continued the integration of our agencies into a more unified "AgencyCo" structure, and Proofread Anywhere continued to scale its advertising spend in a more profitable manner. Revenue for the quarter was $1.87M, compared to $2.81M…

• At the portfolio level, the integration of RevenueZen with Eastern Standard, referenced in our prior filings, continued during the quarter and contributed to lower subcontractor costs at RevenueZen. Management also reports improvements in net margin and new-sales activity at RevenueZen during the qu…

• In November 2025, we entered into a Securities Purchase Agreement providing for the issuance of up to $300 million in Senior Secured Convertible Notes, of which $6 million was issued at the initial closing (see Note 10). In April 2026, subsequent to quarter end, we entered into an Equity Purchase Fa…

• With the recently established financing arrangements in place, our focus remains on managing the existing portfolio while continuing to evaluate accretive acquisition opportunities.

• The Company reported a net loss of $2,572,611, which includes $365,142 in non-cash expenses, a $654,745 default penalty for liquidated damages, a $674,157 non-cash loss on the change in fair value of digital assets, and a $71,392 non-cash loss on the change in fair value of derivative liabilities, f…

Text added vs the prior filing · source: 10-Q · 2026-08-19

• We are not in compliance with certain of Nasdaq’s continued listing requirements, and additional recently effective Nasdaq rules provide for immediate delisting with no compliance period. If we are unable to regain and maintain compliance, our common stock and warrants will be delisted from Nasdaq.

• On May 26, 2026, we received a notice from the Listing Qualifications Department of Nasdaq stating that we were not in compliance with the minimum stockholders’ equity requirement of Nasdaq Listing Rule 5550(b)(1), which requires listed companies to maintain stockholders’ equity of at least $2,500,0…

• On July 2, 2026, we received a notice from Nasdaq stating that we were not in compliance with the minimum bid price requirement of Nasdaq Listing Rule 5550(a)(2), as the closing bid price of our common stock was below $1.00 per share for 30 consecutive business days. We have until December 29, 2026 …

• Further, effective July 22, 2026, the U.S. Securities and Exchange Commission initially approved changes to Nasdaq Listing Rules 5550(a)(6) and 5810(c)(1), creating an immediate Staff Delisting Determination with no compliance period if a company’s Market Value of Listed Securities (“MVLS”) stays be…

• If our common stock and warrants were delisted from Nasdaq, we would expect trading, if any, to occur on an over-the-counter market, which would likely reduce the liquidity and market price of our common stock, impair our ability to raise capital, including under the Equity Purchase Facility Agreeme…