Onfolio Holdings Inc. (NASDAQ: ONFO, ONFOW) announced it has received written notification from Nasdaq confirming the company has regained compliance with Nasdaq Listing Rule 5550(a)(2), which requires a minimum closing bid price of $1.00 per share.

The company had previously received a deficiency notice from Nasdaq after its common stock failed to maintain the minimum bid price requirement. Onfolio's closing bid price subsequently remained at or above $1.00 per share for a minimum of ten consecutive business days, satisfying the requirement for continued listing. Nasdaq considers the matter closed.

The company conducted a reverse stock split approximately two weeks prior to the announcement. "We enacted our reverse-split two weeks ago specifically to regain Nasdaq compliance," said Dominic Wells, Chief Executive Officer of Onfolio. "With that compliance restored, we can focus on our growth and acquisition strategy and put this compliance matter behind us."

Onfolio describes itself as an owner-operator of online businesses across verticals including marketing, education, and e-commerce.