Onar Holding Corp
For the period ended Dec 31, 2025. Filed Jun 11, 2026.
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FY2025 · Filed Jun 11, 2026
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Item 8. Consolidated Statements of Cash Flows
| 2025 · 2024 | ||||
|---|---|---|---|---|
| Operating Activities · (recast) | ||||
| Net loss | $(9,276,897) | $(3,083,156) | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||||
| Depreciation and amortization | 280,459 | 578,309 | ||
| Amortization of employee loan receivable | 31,250 | 125,000 | ||
| Amortization of debt discount | 149,158 | - | ||
| Change in fair value of investments | 489,345 | (178,381) | ||
| Shares and options issued for services | 3,909,714 | - | ||
| Employee loan receivable interest income and extension fee | (34,878) | - | ||
| Extension fees added to principal of notes payable, related party | 194,773 | - | ||
| Gain on sale of assets | (304,114) | - | ||
| Loss on extinguishment of notes payable | 152,106 | 363,871 | ||
| Changes in operating assets and liabilities: | ||||
| Accounts receivable | 234,292 | (74,186) | ||
| Accounts receivable, related party | - | (141,818) | ||
| Prepaid expenses and other current assets | (9,520) | (29,216) | ||
| Accounts payable | 1,239,790 | 83,746 | ||
| Accrued expenses and other liabilities | 1,975,772 | 624,822 | ||
| Accrued expenses and advances, related party | (94,948) | (142,484) | ||
| Deferred revenue | (528,334) | 132,000 | ||
| Net cash used in operating activities – continuing operations | (1,592,032) | (1,741,493) | ||
| Net cash provided by operating activities – discontinued operations | 219,102 | 23,605 | ||
| Investing Activities | ||||
| Purchase of property and equipment | - | (42,672) | ||
| Proceeds from acquisition of Retina AI | 60,163 | - | ||
| Acquisitions of subsidiaries, net of cash received | (1,869,272) | 374,294 | ||
| Advance to affiliate | (110,419) | (400,700) | ||
| Acquisition of intangible assets | 110,419 | - | ||
| Net cash used in investing activities – continuing operations | (1,809,109) | (69,078) | ||
| Net cash used in investing activities – discontinued operations | - | - | ||
| Financing Activities | ||||
| Proceeds from issuance of notes payable | - | 2,110,000 | ||
| Repayment of notes payable | (134,383) | - | ||
| Proceeds from sale of preferred stock | 525,000 | - | ||
| Proceeds from issuance of notes payable, related party | 35,000 | 430,450 | ||
| Repayment of notes payable, related party | (311,779) | (417,000) | ||
| Proceeds from convertible notes payable | 3,844,128 | - | ||
| Payments on convertible notes payable | (393,433) | - | ||
| Advances from related party | - | 844,202 | ||
| Repayment of advances from related party | - | (681,755) | ||
| Repayment of line of credit | (7,710) | (5,179) | ||
| Proceeds/repayments from line of credit | 47,581 | - | ||
| Distributions to members of HLDCO, the legal acquiree | - | (236,897) | ||
| Contributions from members of HLDCO, the legal acquiree | - | 126,000 | ||
| Net cash provided financing activities – continuing operations | 3,604,404 | 2,169,821 | ||
| Net cash used in financing activities – discontinued operations | (11,804) | (44,671) | ||
| Net change in cash | 410,561 | 338,184 | ||
| Cash - beginning of year | 33,609 | 1,015 | ||
| Cash - end of year* | 444,170 | 339,199 | ||
| Supplemental cash flow disclosures | ||||
| Interest paid | $1,559 | $134,385 | ||
| Income taxes paid | $ | - | $ | - |
| Supplemental disclosure of non-cash investing and financing activities | ||||
| Notes payable and accrued interest converted to common stock | $196,242 | $ | - | |
| Conversion of Series B preferred stock to common stock | $7,807 | $ | - | |
| Payment of accrued expenses through related party note payable | $233,062 | $ | - | |
| Accrued liabilities paid by related party note payable | $287,556 | $ | - | |
| Discounts recognized from convertible notes payable | $498,687 | $ | - | |
| Debt discount for warrants issued with debt | $680,351 | $ | - | |
| Line of credit converted to note payable | $212,065 | $ | - | |
| Purchase of software through issuance of Series E Preferred stock | $213,333 | $ | - | |
| Fair value of shares issued for acquisition of Reliant Holdings, Inc. | $ | - | $688,732 | |
| Investment in equity securities received in settlement of accounts receivables, related party | $ | - | $160,818 | |
| Investment in equity securities received for services | $ | - | $150,000 | |
| Conversion of preferred stock to common stock | $ | - | $84,132 | |
| Issuance of common stock for settlement of convertible notes payable | $127,627 | $ | - | |
- See Notes 1 and 2 for reconciliation of cash attributable to discontinued operations
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