Onfolio Holdings, Inc. (Nasdaq: ONFO, ONFOW) published a shareholder update on July 23, 2026, detailing the termination of its proposed transaction with Paramount Helium LLC and outlining its operational priorities for the remainder of 2026.

The company announced a binding letter of intent with Paramount Helium on July 8, 2026, contemplating a strategic combination in the industrial gas market. The parties mutually agreed to terminate the LOI on July 22, 2026, after conditions to closing — including the raising of sufficient capital by Paramount and delivery of audited financials — were not met and were not expected to be met.

"The helium opportunity was worth evaluating, and the conditions we required meant we could pursue it without betting the company. When it became clear those conditions wouldn't be met, we called off the deal and got back to work," said Dominic Wells, CEO of Onfolio.

Following the termination, Onfolio stated it has returned its focus to acquiring and operating profitable online businesses. The company said it retains previously announced letters of intent for additional acquisitions, which it intends to pursue as its capitalization improves.

Onfolio also disclosed it has submitted a compliance plan to Nasdaq addressing a stockholders' equity deficiency and intends to cure a minimum bid price requirement within the compliance period ending December 31, 2026.

Near-term priorities identified by the company include strengthening its balance sheet, reducing parent company overhead, and restoring cash distributions from portfolio companies to the parent entity.