Onfolio reports $734K impairments, debt default, and 18-month acquisition pause amid liquidity strain

Filed March 31, 2026 · Period ending December 31, 2025 · Compared to 10-K Apr 16, 2025 · ~2 min read

Key Changes

• high

  Company is in default on $6M Senior Secured Notes due to covenant breaches, exposing it to potential redemption at 120% of principal, ~$400K in penalties, and a punitive conversion price (85% of recent VWAP vs. original $0.984). Noteholders can also claim 62.5% of MightyDeals sale proceeds. Company is negotiating a waiver with no assurance one will be granted.

  Risk Factors: Debt Default verify on EDGAR →
• high

  Auditors issued a going-concern opinion for FY2025, expressing substantial doubt about the company's ability to continue operations for the next twelve months. Management and auditors both concluded substantial doubt exists, a formal escalation from FY2024's liquidity warnings.

  MD&A: Going Concern verify on EDGAR →
• high

  Company recorded $734K in impairments across four assets in FY2025 (vs. $121K in FY2024), including full write-offs of two JV investments and performance-driven write-downs of allthingsdogs.com ($217K) and DDS Rank ($223K). DDS Rank was acquired mid-2024 and impaired within its first year, signaling the acquisition underperformed.

  Business: Impairment Charges verify on EDGAR →