# EDGAR Filing Document

**Accession Number:** 0001825452
**File Stem:** 0001654954-23-001296
**Filing Date:** 2023-2
**Character Count:** 14644
**Document Hash:** 14ec53010f3abe61d5cf8bb739208ce0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001654954-23-001296.hdr.sgml**: 20230206

**ACCESSION NUMBER**: 0001654954-23-001296

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20230201

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Completion of Acquisition or Disposition of Assets

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230206

**DATE AS OF CHANGE**: 20230206

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Onfolio Holdings, Inc
- **CENTRAL INDEX KEY:** 0001825452
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-COMPUTER PROCESSING & DATA PREPARATION [7374]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-41466
- **FILM NUMBER:** 23588405

**BUSINESS ADDRESS:**
- **STREET 1:** 1007 NORTH ORANGE STREET 4TH FLOOR
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19801
- **BUSINESS PHONE:** (682) 990-6920

**MAIL ADDRESS:**
- **STREET 1:** 1007 NORTH ORANGE STREET 4TH FLOOR
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19801

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Onfolio Holdings Inc
- **DATE OF NAME CHANGE:** 20200923

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Onfolio Holdings, Inc.
- **DATE OF NAME CHANGE:** 20200921

?xml version="1.0" encoding="utf-8"?onfolio_8k.htm

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): February 1, 2023

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| |
|:---|
| **ONFOLIO HOLDINGS INC.** |
| (Exact name of registrant as specified in its charter) |

---

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| | | |
|:---|:---|:---|
| **Delaware** | **001-41466** | **37-1978697** |
| (State or other jurisdiction of <br>incorporation or organization) | (Commission <br>File Number) | (I.R.S. Employer<br> Identification Number) |

---

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| | |
|:---|:---|
| **1007 North Orange Street, 4th Floor, Wilmington, Delaware** | **19801** |
| (Address of principal executive offices) | (Zip Code) |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Registrant's telephone number, including area code <u>(682)</u> <u>990-6920</u>

_________________________________________

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Common Stock, $0.001 par value per share | ONFO | Nasdaq Capital Market |
| Warrants To Purchase Common Stock | ONFOW | Nasdaq Capital Market |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If 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. ☐

**Cautionary Note Regarding Forward-Looking Statements**

Statements in this Current Report on Form 8-K, including those regarding the Asset Purchase Agreement (as defined), future financial and operating results and any other statements about Onfolio Holdings Inc.'s future expectations, beliefs, goals, plans or prospects, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of words such as anticipate, intend, believe, estimate, plan, seek, project or expect, may, will, would, could or should, the negative of these terms or other comparable terminology. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including; difficulties in integration or a failure to attain anticipated operating results or synergies, each of which could affect the accretiveness of the acquisitions, and the other factors described in Onfolio Holdings Inc.'s public filings filed with the Securities and Exchange Commission. Onfolio Holdings Inc. undertakes no obligation to update forward looking statements to reflect changed assumptions, the occurrence of unanticipated events, or changes in future operating results, financial condition or business over time. You are further advised to review the Risk Factors set forth in Onfolio Holdings Inc.'s Registration Statement on Form S-1, which further detail and supplement the factors described in this paragraph.

**Item 1.01. Entry into a Material Definitive Agreement.**

*Asset Purchase Agreement - Contentellect Limited*

As previously reported, on January 13, 2023, Onfolio Assets LLC, Onfolio Holdings Inc.'s (the "<u>Company</u>") wholly owned subsidiary entered into an Asset Purchase Agreement ("<u>Asset Purchase Agreemen</u>t") with Contentellect Limited ("<u>Contentellect</u>"), a Guernsey limited liability company, and Mark Whitman, the sole owner of Contentellect, for the purchase of substantially all of Contentellect's assets utilized in the operation of the business of providing online (i) content writing services (including white label content creation, eBook writing and eCommerce product description writing), (ii) website link building services (including white label link building, HARO link building and SEO outreach services), (iii) social media marketing services, and (iv) virtual assistant services to individuals, businesses and agencies through the website that the domain name www.contentellect.com points at (the "<u>Business</u>").

Pursuant to the Asset Purchase Agreement, and subject to the terms and conditions contained therein, at the closing, Contentellect agreed to sell to Onfolio Assets LLC the assets, properties and rights of every kind and nature related to the Business (collectively, the "<u>Acquired Assets</u>"), all as more fully described in the Asset Purchase Agreement. The aggregate purchase price for the Acquired Assets is Eight Hundred and Fifty Thousand US Dollars ($850,000) payable in cash at the closing.

A copy of the Asset Purchase Agreement is attached hereto as Exhibit 2.1 and is incorporated herein by reference.

**Item 2.01 Completion of Acquisition or Disposition of Assets.**

The information contained in Item 1.01 herein is incorporated into this Item 2.01 by reference.

The Asset Purchase Agreement closed on February 1, 2023. Pursuant to the Asset Purchase Agreement, and on the terms and conditions contained therein, at the closing, the Company purchased the Acquired Assets from Contentellect, all as more fully described in the Asset Purchase Agreement. The aggregate purchase price for the Acquired Assets of Eight Hundred and Fifty Thousand US Dollars ($850,000) was paid in cash at the closing.

**Item 7.01Regulation FD.**

On February 6, 2023, the Company issued a press release announcing the closing of the Asset Purchase Agreement. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

The information disclosed pursuant to this Item 7.01 (including Exhibit 99.1) shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended ("<u>Exchange Act</u>"), or otherwise subject to the liability of that section and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in any such filing.

**Item 9.01. Financial Statements and Exhibits.**

(d) Exhibits.

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| | |
|:---|:---|
| Exhibit No. | Description |
| [2.1](http://www.sec.gov/Archives/edgar/data/1825452/000165495423000460/onfolio_ex22.htm) | [Asset Purchase Agreement - Contentellect (incorporated by reference to the Company's Form 8-K filed on October 7, 2022)](http://www.sec.gov/Archives/edgar/data/1825452/000165495423000460/onfolio_ex22.htm) |
| [99.1](onfolio_ex991.htm) | [Press Release dated February 6, 2023](onfolio_ex991.htm) |
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL) |

---

2<br>

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
|  | **ONFOLIO HOLDINGS INC.** | **ONFOLIO HOLDINGS INC.** |
| Date: February 6, 2023 |  |  |
|  | By:  | /s/ Dominic Wells |
|  |  | Dominic Wells, |
|  |  | Chief Executive Officer |

---

3<br>

## Exhibit 99.1

**EXHIBIT 99.1**

**Onfolio Holdings Inc. Completes Acquisition of Contentellect Business**

**WILMINGTON, Delaware**, **February 6, 2023** -- **Onfolio Holdings Inc. (Nasdaq: ONFO, ONFOW)** (the "Company" or "Onfolio"), a holding company that acquires and manages a diversified portfolio of online businesses across a broad range of verticals, today announced the completion of the Company's previously announced asset purchase agreement (the "Agreement") with Contentellect Limited ("Contentellect") to acquire substantially all its business assets for a purchase price of $850,000 of cash at closing, pursuant to an agreement entered into on January 13, 2023.

Contentellect was launched in 2018 and began as a specialist content writing service for software-as-a-service companies. Today, 875+ businesses and 65+ agencies rely on Contentellect's software, which helps small-and medium-sized businesses scale their content with blog writing, link building, and more. The service offering consists of copywriting from a 100+ writer talent pool, and outreach services such as content writing services, website link building services, social media marketing services and virtual assistant services to individuals, businesses and agencies. The content created helps customers by improving organic traffic via search engines, enables them to conduct thought-leadership, and gives sales and marketing teams relevant and usable content at the top and middle of the marketing funnel. Contentellect reported $340,000 of adjusted EBITDA in 2022 (on an unaudited basis).

"We are excited to have completed our acquisition of Contentellect and look forward to capitalizing on the attractive growth opportunities ahead," said Dominic Wells, CEO of Onfolio. "Since inception, Contentellect has steadily expanded its service offering to assist small-and medium-sized companies reach their growth potential, and we are excited to work with Jason and his team to advance Contentellect's strategy and unlock value."

"Contentellect has an enormous opportunity ahead of it as we navigate the content marketing space, especially with the advent of potentially industry-changing AI technology," said Jason Smit, CEO of Contentellect. "The demand for genuinely great storytelling combined with the expertise to reach the right audiences is only growing, and Contentellect has the tools and know-how to help brands achieve this."

A Form 8-K relating to the Contentellect transaction was filed with the Securities and Exchange Commission on February 6, 2023 and is available on the SEC's website at <u>www.sec.gov</u>.

**Onfolio Holdings Inc.** 

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 businesses 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 <u>www*.*onfolio.com</u> 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. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, 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 under the caption "Risk Factors" included in our SEC filings and other risks to which our Company is subject, and various other factors beyond the Company's control.

**Investor Contact**

Alex Thompson / Greg Robles

Gateway Group, Inc.

949.574.3860 <u>ONFO@gatewayir.com</u>