WILMINGTON, Del. - Onfolio Holdings Inc. (NASDAQ: ONFO, ONFOW) (OTC: ONFOP), a company specializing in the acquisition and management of online businesses with a market capitalization of $8.56 million, today announced the appointment of Adam Trainor as the interim Chief Financial Officer, starting January 1, 2025. According to InvestingPro data, the company has demonstrated remarkable growth with a 227% year-to-date return. Mr. Trainor, who has been with Onfolio since October 2020, will retain his role as Chief Operations Officer while taking on the additional responsibilities of CFO.
The transition comes as the current CFO, Esbe van Heerden, steps down from her position effective December 31, 2024. Van Heerden, who has been with the company since its early days in 2019, will continue to serve as an advisor, aiding with the preparation of SEC filings and audit tasks.
Trainor expressed his enthusiasm for the new role, highlighting his hands-on experience with the company's day-to-day operations and his readiness to oversee the financial and capital allocation strategy. With revenue growth of 29% in the last twelve months and analysts forecasting profitability for the coming year, according to InvestingPro analysis, Trainor will be taking the helm during a period of significant expansion. He commended van Heerden for her contributions to the company's current standing and expressed his commitment to building on the foundation laid as Onfolio looks ahead.
Dominic Wells, CEO of Onfolio, praised van Heerden for her pivotal role in the company's growth and expressed confidence in Trainor's capabilities to excel in his new position. Wells reflected positively on the company's progress in 2024 and shared his optimism for the coming year.
Onfolio Holdings operates by acquiring businesses that align with its investment criteria, focusing on sectors with long-term growth opportunities and stable cash flows. The company prides itself on enhancing value in the businesses it acquires. InvestingPro analysis reveals the company maintains a moderate debt level and shows strong momentum, with 12 additional exclusive insights available to subscribers.
This announcement is based on a press release statement from Onfolio Holdings Inc. and contains forward-looking statements subject to risks and uncertainties that could affect the company's actual results. These statements are based on current expectations and are not guarantees of future performance.
In other recent news, Onfolio Holdings Inc. has finalized its acquisition of a majority stake in Eastern Standard, LLC, a digital marketing service provider. The deal, which involved Onfolio purchasing 70% of Eastern Standard for $1.66 million, aligns with Onfolio's investment criteria of acquiring businesses with long-term growth potential and stable cash flows. Eastern Standard reported revenues of around $4 million and an unaudited adjusted EBITDA of $630,000 for the fiscal year ending December 31, 2023.
Onfolio's other strategic moves include the acquisition of DDS Rank, a digital marketing service provider for dentists, and the business assets of First Page Strategy through its subsidiary, RevenueZen LLC. These acquisitions are expected to boost revenue and result in significant cost savings. Onfolio's shareholders have also approved a reverse stock split, with an exchange ratio ranging from 1-for-2 to 1-for-5, a move aimed at increasing the per-share trading price of Onfolio Holdings' common stock.
These are among the recent developments in Onfolio Holdings' strategic moves to enhance its portfolio and expand client services. The company's CEO, Dominic Wells, has emphasized the importance of the Special Purpose Vehicle model and non-convertible Series A Preferred Shares in future acquisitions. As these acquisitions unfold, investors will be keen to see how they impact Onfolio's pursuit of profitability.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.