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STATES**\n\n**SECURITIES AND EXCHANGE COMMISSION**\n\n**WASHINGTON, DC 20549**\n\n \n\n**FORM 10-Q**\n\n \n\n**(Mark One)**\n\n \n\n☒\n\n**QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**\n\n \n\n**For the quarterly period ended March 31, 2026**\n\n \n\n**OR**\n\n \n\n☐\n\n**TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**\n\n \n\n**For the transition period from _________to ___________**\n\n \n\n**Commission File Number: 001-41466**\n\n \n\n**ONFOLIO HOLDINGS INC.**\n\n**(Exact Name of Registrant as Specified in its Charter)**\n\n \n\n**Delaware**\n\n \n\n**37-1978697**\n\n(State or other jurisdiction\n\nof incorporation or organization)\n\n \n\n(I.R.S. Employer\n\nIdentification No.)\n\n \n\n \n\n**1007 North Orange Street, 4th Floor, Wilmington, Delaware**\n\n \n\n**19801**\n\n(Address of principal executive offices)\n\n \n\n(Zip Code)\n\n \n\n**(682) 990-6920**\n\n(Registrant’s telephone number, including area code)\n\n \n\n**Securities registered pursuant to Section 12(b) of the Act:**\n\n \n\n**Title of each class**\n\n \n\n**Trading Symbol(s)**\n\n \n\n**Name of each exchange on which registered**\n\nCommon stock, $0.001 par value\n\n \n\nONFO\n\n \n\nNasdaq Capital Market\n\nWarrants To Purchase Common Stock\n\n \n\nONFOW\n\n \n\nNasdaq Capital Market\n\n \n\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐\n\n \n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐\n\n \n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\n\n \n\nLarge accelerated filer\n\n☐\n\nAccelerated filer\n\n☐\n\nNon-accelerated filer\n\n☒\n\nSmaller reporting company\n\n☒\n\n \n\n \n\nEmerging growth company\n\n☒\n\n \n\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\n\n \n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒\n\n \n\nNumber of shares of common stock outstanding as of May 13, 2026 was 6,662,508.\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n**Page No.**\n\n \n\n**PART I. FINANCIAL INFORMATION** \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n[Item 1.](#I1)\n\n[Financial Statements (Unaudited)](#I1)\n\n \n\n4\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n[Consolidated Balance Sheets as of March 31, 2026 and December 31, 2025](#BS)\n\n \n\n4\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n[Consolidated Statements of Operations for the Three Months ended March 31, 2026 and 2025](#OP)\n\n \n\n5\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n[Consolidated Statements of Stockholders’ Equity for the Three Months ended March 31, 2026 and 2025](#EQ)\n\n \n\n6\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n[Consolidated Statements of Cash Flows for the Three Months ended March 31, 2026 and 2025](#CF)\n\n \n\n7\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n[Notes to the Consolidated Financial Statements](#NOTE)\n\n \n\n8\n\n \n\n \n\n \n\n \n\n \n\n \n\n[Item 2.](#I2)\n\n[Management’s Discussion and Analysis of Financial Condition and Results of Operations](#I2)\n\n \n\n32\n\n \n\n \n\n \n\n \n\n \n\n \n\n[Item 3.](#I3)\n\n[Quantitative and Qualitative Disclosures About Market Risk](#I3)\n\n \n\n41\n\n \n\n \n\n \n\n \n\n \n\n \n\n[Item 4.](#I4)\n\n[Controls and Procedures](#I4)\n\n \n\n42\n\n \n\n \n\n \n\n \n\n \n\n \n\n**PART II. OTHER INFORMATION**\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n[Item 1.](#IT1)\n\n[Legal Proceedings](#IT1)\n\n[ ](#IT1)\n\n43\n\n \n\n \n\n \n\n \n\n \n\n \n\n[Item 1A.](#IT1a)\n\n[Risk Factors](#IT1a)\n\n \n\n43\n\n \n\n \n\n \n\n \n\n \n\n \n\n[Item 2.](#IT2)\n\n[Unregistered Sales of Equity Securities and Use of Proceeds](#IT2)\n\n \n\n44\n\n \n\n \n\n \n\n \n\n \n\n \n\n[Item 3.](#IT3)\n\n[Defaults Upon Senior Securities](#IT3)\n\n \n\n44\n\n \n\n \n\n \n\n \n\n \n\n \n\n[Item 4.](#IT4)\n\n[Mine Safety Disclosures](#IT4)\n\n \n\n44\n\n \n\n \n\n \n\n \n\n \n\n \n\n[Item 5.](#IT5)\n\n[Other Information](#IT5)\n\n \n\n44\n\n \n\n \n\n \n\n \n\n \n\n \n\n[Item 6.](#IT6)\n\n[Exhibits](#IT6)\n\n \n\n45\n\n \n\n \n\n \n\n \n\n \n\n \n\n[Signatures](#SIG)\n\n \n\n \n\n46\n\n \n\n \n\n2\n\n*Table of Contents*\n\n \n\n**CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS**\n\n \n\nThis report on Form 10-Q contains forward-looking statements. Forward-looking statements involve risks and uncertainties, such as statements about our plans, objectives, expectations, assumptions or future events. In some cases, you can identify forward-looking statements by terminology such as “anticipate,” “estimate,” “plan,” “project,” “continuing,” “ongoing,” “expect,” “we believe,” “we intend,” “may,” “should,” “will,” “could” and similar expressions denoting uncertainty or an action that may, will or is expected to occur in the future. These statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from any future results, performances or achievements expressed or implied by the forward-looking statements. You should not place undue reliance on these forward-looking statements.\n\n \n\nExamples of forward-looking statements include, but are not limited to:\n\n \n\n \n\n●\n\nthe anticipated timing of the development of future products or services;\n\n \n\n●\n\nprojections of costs, revenue, earnings, capital structure and other financial items;\n\n \n\n●\n\nstatements of our plans and objectives;\n\n \n\n●\n\nstatements regarding the capabilities of our business operations;\n\n \n\n●\n\nstatements of expected future economic performance;\n\n \n\n●\n\nstatements regarding competition in our market; and\n\n \n\n●\n\nassumptions underlying statements regarding us or our business.\n\n \n\nForward-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:\n\n \n\n \n\n●\n\nour ability to manage our current and projected financial position and estimated cash burn rate, including our estimates regarding expenses, future revenues and capital requirements, and ultimately our ability to continue as a going concern;\n\n \n\n●\n\n \n\nour ability to raise additional capital or additional funding to further develop and expand our business to meet our long-term business objectives. We have limited revenues and we cannot predict when or if we will achieve significant revenues and sustained profitability;\n\n \n\n●\n\nour ability to achieve significant revenues and sustained profitability;\n\n \n\n●\n\nimpairment of goodwill and long-lived assets;\n\n \n\n●\n\nchanges in customer demand;\n\n \n\n●\n\nour ability to develop our brands cost-effectively, to attract new customers and retain customers on a cost-effective basis;\n\n \n\n●\n\nour ability to compete in the markets in which our websites participate;\n\n \n\n●\n\nour ability to make strategic actions, including acquisitions and dispositions and our success in integrating acquired businesses;\n\n \n\n●\n\nour ability to continue to successfully manage our websites on a combined basis;\n\n \n\n●\n\nsecurity breaches, cybersecurity attacks and other significant disruptions in our information technology systems;\n\n \n\n●\n\ndevelopments and changes in laws and regulations, including increased regulation of our industry through legislative action and revised rules and standards;\n\n \n\n● \n\nour market position and market conditions, including the effects of government policies, tariffs and trade barriers;\n\n \n\n●\n\nthe occurrence of hostilities, political instability or catastrophic events and wars;\n\n \n\n●\n\nour ability to maintain the listing or trading of our common stock and warrants on the NASDAQ Capital Market and the potential impact on our business if we fail to do so;\n\n \n\n●\n\nnatural events such as severe weather, fires, floods and earthquakes, or man-made or other disruptions of our operating systems, structures or equipment;\n\n \n\n●\n\nrisks related to, and the costs associated with, environmental, social and governance (ESG) matters, including the scope and pace of related rulemaking activity;\n\n \n\n●\n\nother risks to which our Company is subject;\n\n \n\n●\n\nother factors beyond the Company’s control; and\n\n \n\n● \n\nother factors and risks described under “Risk Factors” herein and in any of the Company’s subsequent reports filed with the SEC and available on its website at www.sec.gov.\n\n \n\nThe ultimate correctness of these forward-looking statements depends upon a number of known and unknown risks and events. We discuss our known material risks under Part I Item 1.A “Risk Factors” contained in our Company’s Annual Report on Form 10-K for the year ended December 31, 2025 and Part II, Item 1.A “Risk Factors” in this report on Form 10-Q. Many factors could cause our actual results to differ materially from the forward-looking statements. In addition, we cannot assess the impact of each factor on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.\n\n \n\nThe forward-looking statements speak only as of the date on which they are made, and, except as required by law, we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events.\n\n \n\n \n\n3\n\n*Table of Contents*"}