WILMINGTON, DE — Onfolio Holdings Inc. (Nasdaq: ONFO, ONFOW; OTC: ONFOP) has regained compliance with Nasdaq’s minimum bid-price requirement after its shares closed at or above $1 for at least 10 consecutive business days, removing a listing risk that had followed the company before a recent reverse stock split.
Nasdaq notified Onfolio last week in writing that the company now complies with Listing Rule 5550(a)(2), which requires a minimum closing bid price of $1 per share for continued listing. Nasdaq considers the matter closed, according to Onfolio.
The company had previously been notified that its common stock failed to maintain the required minimum bid price.
Chief Executive Officer Dominic Wells said the reverse split was undertaken specifically to restore compliance.
“We enacted our reverse-split two weeks ago specifically to regain Nasdaq compliance,” Wells said. “With that compliance restored, we can focus on our growth and acquisition strategy and put this compliance matter behind us.”
Onfolio acquires and operates online businesses across areas including marketing, education and e-commerce. The company also uses artificial intelligence across its operations, including internal tools and products developed for acquired businesses.
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