CENTENNIAL, Colo., Aug. 18, 2026 (GLOBE NEWSWIRE) -- Family Office of America, Inc. (OTC: FOFA) (“Family Office of America” or the “Company”), an emerging provider of accounting, tax, bookkeeping and comprehensive family office services, today announced its financial results for the three and six months ended June 30, 2026, as reported in its Form 10-Q filed with the U.S. Securities and Exchange Commission on August 14, 2026.
For the six months ended June 30, 2026, the Company reported:
- Revenue of $1.32 million, compared with $0 in the prior-year period;
- Net income of $232,570, compared with a net loss of $198,549 in the prior-year period;
- Cash and cash equivalents of $636,887, compared with $155,798 at December 31, 2025;
- Current assets of $809,972, compared with $270,350 at December 31, 2025; and
The Company generated $532,639 of revenue during the second quarter, compared with no revenue in the second quarter of 2025. The second quarter net loss was $31,219, compared with a net loss of $95,228 in the prior-year period.
The Company's first-half revenue was generated by its two operating businesses, Toone and Benson, acquired as part of the Company's strategy to build a larger integrated financial-services platform.
Management Sees Opportunity to Accelerate Growth
Management believes the Company is entering an important phase of its development as it seeks to build upon its initial acquisitions and expand its presence in the greater Washington, D.C. market.
“We believe we have another solid quarter as we continue to build out the business,” said Patrick Adams, Chief Executive Officer of Family Office of America. “Our liquidity has improved meaningfully, and we intend to deploy a significant portion of that liquidity toward our current acquisition and expanding the business. We have established a solid foothold in Montgomery County, Maryland, and believe there are additional acquisition opportunities in this market that could be highly accretive and provide additional cash flow.”
Management currently expects to pursue additional acquisitions in the Montgomery County and greater Washington, D.C. market by year-end, with a focus on businesses that can be integrated into the Company's existing platform and contribute additional revenue and cash flow.
Creating Synergies Across Acquired Businesses
The Company's strategy extends beyond simply acquiring accounting firms. Management intends to combine businesses and leverage shared infrastructure to expand the services offered to clients while improving operating efficiency.
“Our model is to bring synergies through acquiring and combining accounting firms—adding more services for clients, creating additional revenue opportunities and providing a more comprehensive service offering,” stated Rico Conte Director of Acquisitions.
One early benefit identified by management has been the opportunity to reduce overhead through consolidation. The Company has secured a larger office facility at approximately the same cost as its previous location, which management believes provides capacity to support substantially greater revenue. Additional opportunities have been identified in administrative functions, information technology, software and other shared expenses.
Technology and AI Expected to Support Margin Expansion
Management also believes technology and artificial intelligence will play an increasingly important role as the Company expands.
The accounting industry continues to face demographic and recruiting challenges, while demand for accounting and tax services remains strong. FOFA intends to use technology for automation and to increase employee productivity, improve operating efficiencies and support a larger client base without a corresponding increase in overhead.
The Company also plans to expand its bookkeeping operations as additional employees are added. Management believes the combination of increased bookkeeping demand and technology-enabled efficiencies could provide an opportunity for meaningful margin expansion.
Building a Full-Service Family Office
Management's longer-term objective is to differentiate Family Office of America from traditional accounting firms by expanding the services available to clients through an integrated family office model.
The Company intends to develop opportunities to provide clients with access to wealth management, estate planning, retirement planning and insurance consulting, in addition to its core accounting and tax services.
“We believe providing wealth management, estate planning, retirement planning and insurance consulting alongside our accounting and tax services creates a unique combination of family office services,” management stated. “Our objective is to be more than an accounting firm—we intend to build a full-service family office for our customers.”
Near-Term Priorities
Management's immediate priorities include:
- Pursuing additional acquisitions in the Montgomery County, Maryland and greater Washington, D.C. markets;
- Integrating acquired businesses and realizing operating synergies;
- Expanding bookkeeping and other recurring service offerings;
- Deploying technology and AI to improve productivity and margins; and
- Expanding the Company's broader family office service offering.
Management also intends to pursue a planned transition of the Company's common stock to OTCQB, with a an objective of seeking a Nasdaq listing, subject to satisfying applicable listing requirements and other conditions.
About Family Office of America, Inc.
Family Office of America, Inc. (OTC: FOFA) is building an integrated family office platform through the acquisition and operation of accounting, tax, bookkeeping and related professional service businesses.
The Company's strategy is to acquire established businesses, leverage shared infrastructure and technology, expand the range of services offered to clients and develop a comprehensive family office model encompassing accounting, tax and additional financial services.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of applicable federal securities laws. Such statements include, but are not limited to, statements regarding the Company's acquisition strategy, anticipated acquisitions, expected synergies, revenue growth, margin expansion, technology and artificial intelligence initiatives, expansion of bookkeeping and family office services, future financing activities and potential OTCQB or Nasdaq listing opportunities.
These statements are based upon current expectations and are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated. Among other risks, there can be no assurance that the Company will complete additional acquisitions, realize anticipated synergies, successfully implement its technology initiatives, generate anticipated revenue or cash flow, obtain additional financing or satisfy the requirements for any future stock-market listing.
Investors should review the Company's filings with the U.S. Securities and Exchange Commission, including its Quarterly Report on Form 10-Q for the quarter ended June 30, 2026, for additional information concerning these and other risks and uncertainties.
sec.gov/Archives/edgar/data/1871181/000149315226038094/form10-q.htm
Family Office of America, Inc.
6898 S. University Blvd., Suite 100
Centennial, CO 80122
Email: padama@fofausa.com
OTC: FOFA
