Onfolio Subsidiary Vital Reaction Completes Successful Launch Of New Pocket Inahler Product

Rhea-AI Summary

Onfolio Holdings Inc. (Nasdaq: ONFO, ONFOW) announces the successful launch of the Kencos pocket inhaler by its molecular hydrogen supplement subsidiary, Vital Reaction. The innovative product is positioned as an alternative to vaping or smoking, with a strong appeal to those looking to quit. CEO Dom Wells highlights the importance of product launches for Vital Reaction's growth, while Shaun Thresher expresses excitement about bringing the benefits of Molecular Hydrogen to a wider audience. The launch of Kencos resulted in $14,500 in sales in its first week, accounting for 17% of Vital Reaction's October revenue.

WILMINGTON, Del., Nov. 20, 2023 (GLOBE NEWSWIRE) -- Onfolio Holdings Inc. (Nasdaq: ONFO, ONFOW) (the "Company" or "Onfolio"), a holding company that acquires and manages a diversified portfolio of online businesses, announces that its molecular hydrogen supplement subsidiary Vital Reaction successfully launched an innovative new pocket inhaler “Kencos” at the end of October.

“One of the keys for growth of Vital Reaction is to launch new products, as you would expect with any eCommerce brand. Kencos has a mass appeal as an alternative to vaping or smoking for those wishing to quit. It was great to see the team at Vital Reaction, lead by Shaun Thresher, bring the product to market and have a successful launch,” said Onfolio CEO Dom Wells.

“We’ve been looking for ways to bring the benefits of Molecular Hydrogen to a wider audience, and this healthy alternative to vaping is an exciting way of doing so. The launch went as well as expected, and we’re looking forward to seeing Kencos become a core part of the Vital Reaction brand moving forwards,” said Thresher.

During October, Vital Reaction recorded around $85,000 worth of product sales, of which $14,500 were from sales of Kencos in the final week of the month. This means the new product accounted for 17% of revenue in ¼ of the time.

For more information on the Kencos, visit the product information page here.

About Onfolio Holdings Inc.

Onfolio acquires, manages, and optimizes a diversified portfolio of digital companies. It buys businesses that are in sectors with long-term growth opportunities, have positive and stable cash flows, face minimal threats from competitors or emerging technology, and have strong management teams or can effectively be managed by the Onfolio team. The Company finds acquisition targets where the business potential is not yet maximized and adds increased value by leveraging its experience, skillset, and the latest tools and technologies. For more information, visit www.onfolio.com.

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. Examples of forward-looking statements include, among others, statements we make regarding expected operating results, such as revenue growth and earnings, and strategy for growth and financial results. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: 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 in Item 1.A "Risk Factors" in our most recent Form 10-K and other risks to which our Company is subject, and various other factors beyond the Company’s control. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

Company Contact:
Investor Communications
Onfolio Holdings Inc
Investors@Onfolio.com

Investors Relations:
Bret Shapiro
CORE IR
brets@coreir.com
516-222-2560

Media:
Kati Waldenburg
CORE IR
katiw@coreir.com
516-222-2560

FAQ

What is the new product launched by Onfolio's subsidiary Vital Reaction?

The new product launched is the Kencos pocket inhaler, positioned as an alternative to vaping or smoking, with a focus on aiding those looking to quit.

Who leads the team at Vital Reaction?

The team at Vital Reaction is led by Shaun Thresher.

How much revenue did the Kencos product generate in its first week?

The Kencos product generated $14,500 in sales in its first week, accounting for 17% of Vital Reaction's October revenue.

Where can I find more information about the Kencos product?

For more information on the Kencos product, visit the product information page on the Vital Reaction website.