Family Office of America Inc.

What they do

The company was renamed from Qualis Innovations, Inc. to Family Office of America, Inc. in December 2024, with the ticker changed from QLIS to FOFA. It describes itself as an early-stage company focused on acquiring interests in CPA firms, receiving a portion of those firms' revenues, and providing family office services such as financial planning, investment management and tax services to CPA clients. It incorporated subsidiary Family Office of Maryland, LLC on September 23, 2025, wholly owned by the company, and entered an Asset Purchase Agreement with Toone & Associates LLP on October 1, 2025.

Revenue drivers

• CPA firm interests — The company's stated core model is acquiring minority to 100% interests in CPA practices and receiving a portion of their revenues; no acquired firm revenue contribution is quantified in the excerpts.
• Family office services — Services listed include CPA services, tax planning and preparation, wealth management, asset management, estate planning, asset protection, insurance consulting and investment banking.
• Family Office of Maryland, LLC — Subsidiary incorporated September 23, 2025, 100% owned, providing family office services including financial planning, investment management, tax preparation and bookkeeping, primarily in Maryland; entered an Asset Purchase Agreement with Toone & Associates LLP on October 1, 2025.

Recent performance

Annual revenue was $221,765 in 2025, up from the prior focus as the company shifted into the CPA/family office model. Recent quarterly revenue was $783,126 for the quarter ended 2026-03-31 and $532,674 for the quarter ended 2026-06-30. Net loss was $492,748 in 2025, versus $100,484 in 2024 and $805,021 in 2023. Operating cash flow was negative $262,188 in 2025, negative $89,370 in 2024 and negative $76,529 in 2023. At 2026-06-30, total assets were $2.7M, total liabilities $1.7M, shareholder equity $997,198 and long-term debt $207,750.

Strategy

Management plans to purchase a minority stake up to 100% of CPA practices, paying a significant portion in cash, with the CPA practice owning a portion of a wealth management entity and receiving distributions as an owner. The company intends to retain ownership in each family office vertical, such as the wealth advisory firm, and position itself as a succession and exit path for retiring CPAs. It cites an estimated $147.5 billion CPA industry in 2023 with 1.44 million U.S. CPAs, and states that 75% of CPAs have reached retirement age. The firm raised capital through a January 15, 2025 Regulation D offering of up to 6,000,000 shares at $0.10 per share, with 9,650,000 shares sold for $965,000 as of December 31, 2025, and has issued warrants to executives and consultants, including 3,000,000 warrants granted January 15, 2025 at $0.10 per share.

Risks

• Early-stage acquisition model unproven — The company is an early-stage company whose CPA firm acquisition model has limited operating history and reported revenue of only $221,765 in 2025.
• Recurring losses and negative operating cash flow — Net loss was $492,748 in 2025 and operating cash flow was negative $262,188, continuing a pattern of losses and cash use from 2021 through 2025.
• Dependence on related-party financing — The company has borrowed working capital from its CEO under a 10% per annum, demand-note arrangement, with $11,205 of principal and accrued interest converted into 112,054 shares on July 31, 2025.
• Dilution from offerings and warrants — The company has issued 9,650,000 shares in its Regulation D offering, 10,000,000 shares to affiliates in January 2024, and millions of warrants at $0.10 per share, which can dilute existing holders.

Outlook

Management says the company provides a succession plan and an appealing transition path for CPAs expected to retire over the next 10 years, and believes consolidation and automation will be necessary in the CPA industry. The company's stated plan is to acquire interests in CPA firms and provide family office services to their clients. It also states it is an emerging growth company taking advantage of the extended transition period for new or revised accounting standards, so its financial statements may not be comparable to other public companies.