Onfolio Holdings Sells BWPS WordPress Business For $780,000 To WebStreet, In An All-Cash Deal

Author: Benzinga Newsdesk | December 12, 2024 09:09am

Onfolio Holdings Inc. (NASDAQ:ONFO, ONFOW))) (OTC:ONFOP) (the "Company" or "Onfolio"), a company that acquires and manages a diversified portfolio of online businesses, today announced that it has successfully completed the sale of its BWPS WordPress business for $780,000 to WebStreet, a micro private equity investment fund in an all-cash deal, with $650,000 cash released immediately and $130,000 held back pending final completion of migration. The Company expects to record a capital gain of approximately $150,000 from the sale. For the fiscal year ended 12/31/2023, the BWPS WordPress business generated approximately $360,000 in revenue and $200,000 in unaudited adjusted earnings before interest, taxes, depreciation and amortization ("EBITDA").

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