$ONAR

Onar Holding Corp

CIK:0001682265|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
Revenue	$ 1,047,810	$ 469,046	$ 2,068,895	$ 1,203,561
Cost of revenues	1,004,796	585,361	1,969,642	1,225,220
Gross profit (loss)	43,014	(116,315)	99,253	(21,659)
Operating expenses:
General and administrative	281,831	803,672	626,707	1,806,228
Depreciation and amortization	37,006	61,827	74,012	171,153
Total operating expenses	318,837	865,499	700,719	1,977,381
Loss from operations	(275,823)	(981,814)	(601,466)	(1,999,040)
Other (income) expense:
Interest expense	831,797	174,676	1,634,299	367,540
Other (income) expense	15,869	(1,269)	15,790	(38,708)
Change in fair value of investments	0	64,653	0	246,804
Total other (income) expense	847,666	238,060	1,650,089	575,636
Income tax	0	0	0	0
Loss from continuing operations	(1,123,489)	(1,219,874)	(2,251,555)	(2,574,676)
Income (loss) from discontinued operations	0	(186,149)	0	(118,849)
Net loss	$ (1,123,489)	$ (1,406,023)	$ (2,251,555)	$ (2,693,525)
Net loss per share - basic and diluted - continuing operations	$ (0.01)	$ (0.01)	$ (0.01)	$ (0.02)
Net loss per share - basic and diluted - discontinued operations	0	0.00	0	0.00
Net loss per share - basic and diluted	$ (0.01)	$ (0.01)	$ (0.01)	$ (0.02)
Weighted average common shares outstanding - basic and diluted	209,121,384	119,902,406	180,737,376	117,110,657

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating activities
Net loss	$ (2,251,555)	$ (2,693,525)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	74,012	171,153
Amortization of employee loan receivable	1,446	31,250
Amortization of debt discount	371,775	32,487
Lease expense	0	(48)
Change in fair value of investment in equity securities	0	246,804
Shares and options issued for services	128,797	418,913
Employee loan receivable interest income and extension fee	0	(34,450)
Extension fees added to principal of notes payable, related party	0	194,773
Changes in operating assets and liabilities:
Accounts receivable	(7,097)	(84,473)
Accounts receivable, related party	0	0
Prepaid expenses and other assets	14,826	(20,669)
Accounts payable	162,697	179,362
Accrued expenses and other liabilities	947,218	848,768
Accrued expenses, related party and advances from executive	(86,777)	(220,201)
Deferred revenue	265,845	(145,903)
Customer contracts	0	43,888
Net cash used in operating activities - continuing operations	(378,813)	(1,024,544)
Net cash provided by operating activities - discontinued operations	0	0
Investing activities
Proceeds from sale of investment in equity securities	0	0
Cash received from purchase of Retina AI	0	0
Proceeds from disposal of property and equipment	10,566	0
Repayments from related party	0	0
Advances to related party	(178,638)	0
Net cash (used in) provided by investing activities - continuing operations	(168,072)	0
Net cash provided by investing activities - discontinued operations	0	0
Financing activities
Proceeds from issuance of notes payable	0	0
Repayment of notes payable	0	(3,775)
Proceeds from sale of preferred stock	0	500,000
Proceeds from issuance of notes payable, related party	0	0
Repayment of notes payable, related party	(25,000)	(35,000)
Proceeds from advances from related party	0	(247,673)
Repayment of advances from related party	0	49,004
Proceeds from line of credit	6,387	0
Repayment of line of credit	0	(7,710)
Proceeds from convertible notes payable	785,765	662,000
Payments on convertible notes payable	(274,738)	(36,091)
Net cash provided by financing activities - continuing operations	492,414	950,754
Net cash used in financing activities - discontinued operations	0	0
Net change in cash	(54,471)	(73,790)
Cash - beginning of period	94,420	339,199
Cash - end of period	39,949	265,409
Supplemental cash flow disclosures
Interest paid	52,776	5,432
Income taxes paid	0	0
Supplemental disclosure of non-cash investing and financing activities
Notes payable and accrued interest converted to common stock	93,173	142,455
Series E Preferred Stock issued as acquisition consideration	100,000	0
Notes payable issued as acquisition consideration	85,000	0
Accrued liabilities paid by related party note payable	0	287,556
Discounts on convertible notes payable	0	68,287
Line of credit converted to note payable	$ 0	$ 212,065

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash	$ 39,949	$ 94,420
Accounts receivable, net	48,432	41,335
Prepaid expenses and other current assets	47,076	61,902
Note receivable, current	60,000	60,000
Total current assets	195,457	257,657
Other assets:
Property and equipment	6,583	23,129
Intangible assets, net	151,649	219,681
Goodwill	2,669,875	2,509,875
Advance to affiliated entity and related party	579,338	400,700
Note receivable	394,759	396,205
Total other assets	3,802,204	3,549,590
Total assets	3,997,661	3,807,247
Current liabilities:
Accounts payable	1,651,690	1,513,993
Accrued expenses and other liabilities	3,644,213	2,700,878
Line of credit	6,387	0
Deferred revenue	405,014	139,169
Accrued expenses, related party and advances due to executive	8,854	95,631
Notes payable	2,204,742	2,119,742
Notes payable, related party	1,010,116	1,029,062
Convertible notes payable, net	2,772,537	2,067,997
Total current liabilities	11,703,553	9,666,472
Stockholders' deficit:
Common stock, 3,000,000,000 shares authorized, $0.001 par value, 231,905,314 and 140,099,049 issued and outstanding as of June 30, 2026 and December 31, 2025, respectively	231,906	140,099
Additional paid-in capital	8,271,651	7,958,571
Accumulated deficit	(16,209,461)	(13,957,906)
Total stockholders' deficit	(7,705,892)	(5,859,225)
Total liabilities and stockholders' deficit	3,997,661	3,807,247
Series A Preferred Stock [Member]
Current assets:
Preferred stock, value	1	1
Series B Preferred Stock [Member]
Current assets:
Preferred stock, value	3	3
Series C Preferred Stock [Member]
Current assets:
Preferred stock, value	7	7
Series E, Preferred Stock
Current assets:
Preferred stock, value	$ 1	$ 0