Family Office of America Reports Revenue Growth to $221,765 Amid Increased Losses and Operating Expenses

Family Office of America, Inc. (formerly Qualis Innovations, Inc.) reported a significant increase in financial performance for the fiscal year ending December 31, 2025, with net revenues of $221,765 compared to $0 in the previous year. This revenue growth is attributed to the acquisition of Toone & Associates, which allowed the company to begin generating income from its operations. However, the company also reported a net loss before income taxes of $492,748, a substantial increase from the $100,484 loss recorded in 2024, primarily due to increased operating expenses.

The company's operating expenses surged by 649% to $722,844 in 2025, up from $96,513 in 2024. This increase was driven by higher costs associated with stock-based compensation, professional fees, and consulting services, reflecting the company's efforts to expand its operational capabilities following the acquisition. The total assets of Family Office of America rose dramatically to $1,543,042 as of December 31, 2025, compared to $20,581 in the previous year, largely due to cash, accounts receivable, and intangible assets acquired through the acquisition.

Strategically, Family Office of America has made significant moves to enhance its service offerings and market presence. The company has focused on acquiring CPA firms and providing comprehensive family office services, which include wealth management, tax planning, and estate planning. In addition to the acquisition of Toone & Associates, the company also entered into an asset purchase agreement with Benson Family Office & Accounting Services, further expanding its service capabilities. As of the end of 2025, the company had no full-time employees but is actively working to build its team to support its growth strategy.

Looking ahead, Family Office of America acknowledges the challenges it faces, including a working capital deficit of $308,174 and an accumulated deficit of $5,023,540. The company plans to raise additional funds through public offerings or asset sales to support its operations and growth initiatives. Management remains optimistic about the potential for revenue generation and is committed to implementing its business plan, although it recognizes the inherent risks and uncertainties involved in executing its strategy. The company’s ability to continue as a going concern will depend on its success in raising capital and expanding its operations effectively.