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- Debt Default (new) — The filing discloses the Company failed to make timely payments on the note, which is a payment default.
Onfolio discloses payment default on $850,000 note, enters forbearance agreement
Filed October 20, 2026 · Period ending October 12, 2026 · ~1 min read
Key Changes
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Subsidiary missed payments on an $850,000 promissory note tied to the Eastern Standard acquisition, triggering a payment default.
Item 1.01 verify on EDGAR → -
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Entered a Limited Forbearance Agreement requiring a $450,000 initial payment by October 31, 2026, then $60,000 monthly from December 1, 2026, and a final $45,754.29 on July 1, 2027.
Item 1.01 verify on EDGAR → -
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Total scheduled payments under the forbearance are $915,754.29, exceeding the original note amount due to a $20,000 late charge and accrued amounts.
Item 1.01 verify on EDGAR → -
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Lender will forbear from remedies only if the initial payment is made on time and monthly payments are made within a ten-day cure period.
Item 1.01 verify on EDGAR → -
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If all scheduled payments are made, the note is deemed paid in full and the security interests and guaranty are released.
Item 1.01 verify on EDGAR →
Summary
Onfolio Holdings disclosed that its subsidiary missed payments on an $850,000 promissory note related to the Eastern Standard acquisition, triggering a payment default. In response, the company and its subsidiary entered into a Limited Forbearance Agreement with the lender.
The agreement restructures the repayment schedule, requiring a $450,000 initial payment by October 31, 2026, followed by monthly payments of $60,000 beginning December 1, 2026, and a final payment of $45,754.29 on July 1, 2027. Total scheduled payments amount to $915,754.29, which includes a $20,000 late charge and accrued amounts.
The forbearance is conditional: the lender will hold off on exercising remedies only if the initial payment is made on time and subsequent monthly payments are made within a ten-day cure period. If the company fails to meet these conditions, the lender can pursue remedies under the note, security agreement, and guaranty. However, if all scheduled payments are made, the note will be deemed paid in full and the security interests and guaranty will be released. For retail investors, this filing signals liquidity strain and a near-term cash requirement of $450,000 by the end of October 2026. The default and forbearance indicate the company faced difficulty meeting its debt obligations, and the higher total payment amount reflects additional costs. The company's ability to make the initial payment and stay current on the revised schedule will be critical to avoiding further enforcement action by the lender.
Section-by-Section Diff
Event · Item 2.04 — Triggering Events That Accelerate or Increase a Direct Financial Obligation
Item 2.04 also reports this as a direct financial obligation (body incorporates the primary Item by reference).
Added in current filing · verify on EDGAR →
Item 2.04 Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement.
The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.
The company also filed this under Item 2.04, which means it is reporting the arrangement as a direct financial obligation. The Item 2.04 text refers back to the Item 1.01 entry for the terms rather than restating them.
Event · Item 1.01 — Entry into a Material Definitive Agreement
Onfolio's subsidiary entered a forbearance agreement after missing payments on an $850,000 acquisition note.
Added in current filing · verify on EDGAR →
entered into a Limited Forbearance Agreement and Reaffirmation of Loan Documents
The Company's subsidiary and the Company as guarantor entered into a forbearance agreement with the lender after missing payments on an $850,000 promissory note tied to the Eastern Standard acquisition. The agreement restructures the repayment schedule.
Added in current filing · verify on EDGAR →
Upon receipt of the Initial Payment, and for so long as each monthly payment is made when due (subject to a ten-day cure period), the Payee has agreed to forbear from exercising certain rights and remedies under the Note.
The lender will hold off on exercising remedies only if the initial $450,000 payment is made by October 31, 2026 and subsequent monthly payments are made on time with a ten-day grace period. Failure to meet these conditions allows the lender to pursue remedies under the note, security agreement, and guaranty.
Added in current filing · verify on EDGAR →
If all scheduled payments are timely made, the Note will be deemed paid in full and the security interests and the Company’s guaranty will be released.
If the Company completes all scheduled payments, the note will be considered fully paid and the collateral securing it and the Company's guarantee will be released. This provides a path to resolving the default.
Added in current filing · verify on EDGAR →
The Forbearance Agreement does not extend the maturity of the Note, and any default interest owing thereunder will continue to accrue.
The forbearance agreement does not push out the note's maturity date, and default interest continues to accumulate. This means the total cost of the debt may increase beyond the scheduled payments if default interest is not fully covered by the agreed amounts.
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Figures/quotes linked to EDGAR · Narrative written by AI · Oct 20, 2026 · How we verify