PHOENIX, AZ / ACCESSWIRE / September 14, 2023 / The Stock Day Podcast welcomed Onfolio Holdings Inc. (Nasdaq:ONFO, ONFOW) (the "Company" or "Onfolio"), a company that acquires and manages a diversified portfolio of online businesses across a broad range of verticals, each with a niche content focus and brand identity. CEO of the Company, Dom Wells, joined Stock Day host Everett Jolly.
Jolly began the interview by asking about the Company's background and current projects. "We are a diversified holdings company that buys already-profitable online businesses," explained Wells. "We raised about $12.7 million and spent that on acquiring businesses, which is why there is such a big jump in revenues," he continued. "The idea is to continue acquiring more companies and grow a bigger and more diversified company."
Jolly then asked about Onfolio's plans to raise an additional $10 million. "It is very early on, but this is a preferred share offering, which is different from common shares," said Wells. "We have had success issuing preferred shares before and this one comes with a 12% annual dividend, which is paid quarterly," he explained. "We are raising money from accredited investors to get to the target of $10 million and then we will use the funds to keep acquiring more profitable businesses."
"What types of companies do you have in your portfolio and what is your M&A strategy?" asked Jolly.
"We have always been focused on companies with a digital focus, where digital marketing is key to growth," said Wells. "We have a couple of software businesses, as well as marketing agencies and online courses."
"We are purchasing businesses that are around $5 million in value," Wells continued. "In terms of how we approach our M&A strategy, we are always looking for something where it has reliable cash flow."
"Could you tell us about your recently launched product, Get Quick?" asked Jolly.
"There is an existing tool out there, which is offered for free by Google called Lighthouse," explained Wells. "We realized there was an opportunity to build a language tool that explains the Google Lighthouse reports so that it is easier to understand," he continued, adding that the program also offers interactive features for its users and may offer additional features in the future. "For us, it is a great tool to offer customers and provide an opportunity to upsell our services and increase sign-ups."
To close the interview, Wells encouraged listeners and shareholders to keep up-to-date on the Company's current and upcoming projects as they continue to grow and expand their portfolio.
Onfolio acquires and manages a diversified portfolio of online businesses across a broad range of verticals, each with a niche content focus and brand identity. Onfolio acquires business that meet its investment criteria, being that such businesses operate in sectors with long-term growth opportunities, have positive and stable cash flows, face minimal threats of technological or competitive obsolescence and can be managed by our existing team or have strong management teams largely in place. The Company excels at finding acquisition opportunities where the seller has not fully optimized their business, and Onfolio's experience and skillset allows it to add increased value to these existing businesses. Visit www.onfolio.com for more information.
Safe Harbor Statement
The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "explores," "expects," "anticipates," "continues," "estimates," "projects," "intends," and similar expressions. Examples of forward-looking statements include, among others, statements we make regarding expected operating results, such as revenue growth and earnings, and strategy for growth and financial results. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing new customer offerings, changes in customer order patterns, changes in customer offering mix, continued success in technological advances and delivering technological innovations, delays due to issues with outsourced service providers, those events and factors described by us in Item 1.A "Risk Factors" in our most recent Form 10-K and other risks to which our Company is subject, and various other factors beyond the Company's control. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
Company Contact: Derek McCarthy Investor Communications Onfolio Holdings Inc Investors@Onfolio.com
Investors Relations: Bret Shapiro CORE IR brets@coreir.com 516-222-2560
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