$IONI
I-ON Digital Corp.

2019 Q3 Form 10-Q Financial Statement

#000114036119020374 Filed on November 13, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2018 Q3
Revenue $1.818M $1.875M
YoY Change -3.0%
Cost Of Revenue $1.071M $1.106M
YoY Change -3.09%
Gross Profit $747.0K $769.1K
YoY Change -2.88%
Gross Profit Margin 41.08% 41.03%
Selling, General & Admin $534.7K $440.4K
YoY Change 21.4%
% of Gross Profit 71.58% 57.26%
Research & Development $63.31K $216.7K
YoY Change -70.79%
% of Gross Profit 8.48% 28.18%
Depreciation & Amortization $191.8K $490.00
YoY Change 39046.94%
% of Gross Profit 25.68% 0.06%
Operating Expenses $598.0K $657.2K
YoY Change -9.0%
Operating Profit $149.0K $112.0K
YoY Change 33.08%
Interest Expense $0.00 $0.00
YoY Change
% of Operating Profit 0.0% 0.0%
Other Income/Expense, Net $4.095K $114.4K
YoY Change -96.42%
Pretax Income $153.1K $226.4K
YoY Change -32.37%
Income Tax -$53.18K $14.24K
% Of Pretax Income -34.73% 6.29%
Net Earnings $213.4K $199.8K
YoY Change 6.81%
Net Earnings / Revenue 11.74% 10.66%
Basic Earnings Per Share $0.01 $0.01
Diluted Earnings Per Share $0.01 $0.01
COMMON SHARES
Basic Shares Outstanding 35.03M 31.78M
Diluted Shares Outstanding 35.03M 31.78M

Balance Sheet

Concept 2019 Q3 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.186M $1.312M
YoY Change -9.6%
Cash & Equivalents $498.2K $2.277M
Short-Term Investments $687.6K $742.3K
Other Short-Term Assets $3.102M $2.973M
YoY Change 4.32%
Inventory
Prepaid Expenses
Receivables $2.361M $2.259M
Other Receivables $203.9K $0.00
Total Short-Term Assets $6.852M $6.544M
YoY Change 4.71%
LONG-TERM ASSETS
Property, Plant & Equipment $200.2K $53.64K
YoY Change 273.21%
Goodwill
YoY Change
Intangibles $141.6K
YoY Change
Long-Term Investments $91.94K $230.4K
YoY Change -60.1%
Other Assets $1.577M $992.4K
YoY Change 58.89%
Total Long-Term Assets $2.011M $1.380M
YoY Change 45.67%
TOTAL ASSETS
Total Short-Term Assets $6.852M $6.544M
Total Long-Term Assets $2.011M $1.380M
Total Assets $8.863M $7.925M
YoY Change 11.84%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $634.3K $401.0K
YoY Change 58.17%
Accrued Expenses $823.0K $974.1K
YoY Change -15.51%
Deferred Revenue
YoY Change
Short-Term Debt $457.8K $652.4K
YoY Change -29.82%
Long-Term Debt Due $20.80K $0.00
YoY Change
Total Short-Term Liabilities $2.095M $2.051M
YoY Change 2.15%
LONG-TERM LIABILITIES
Long-Term Debt $374.5K $494.3K
YoY Change -24.23%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $374.5K $494.3K
YoY Change -24.23%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.095M $2.051M
Total Long-Term Liabilities $374.5K $494.3K
Total Liabilities $2.470M $2.545M
YoY Change -2.96%
SHAREHOLDERS EQUITY
Retained Earnings $3.498M
YoY Change
Common Stock $3.650M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $709.5K
YoY Change
Treasury Stock Shares
Shareholders Equity $5.910M $5.379M
YoY Change
Total Liabilities & Shareholders Equity $8.863M $7.925M
YoY Change 11.84%

Cashflow Statement

Concept 2019 Q3 2018 Q3
OPERATING ACTIVITIES
Net Income $213.4K $199.8K
YoY Change 6.81%
Depreciation, Depletion And Amortization $191.8K $490.00
YoY Change 39046.94%
Cash From Operating Activities -$131.3K -$389.9K
YoY Change -66.33% -15.24%
INVESTING ACTIVITIES
Capital Expenditures -$245.3K -$38.05K
YoY Change 544.7%
Acquisitions
YoY Change
Other Investing Activities $7.170K $68.17K
YoY Change -89.48%
Cash From Investing Activities -$238.1K $40.12K
YoY Change -693.57%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -25.75K -197.0K
YoY Change -86.93%
NET CHANGE
Cash From Operating Activities -131.3K -389.9K
Cash From Investing Activities -238.1K 40.12K
Cash From Financing Activities -25.75K -197.0K
Net Change In Cash -395.2K -546.7K
YoY Change -27.72% 18.86%
FREE CASH FLOW
Cash From Operating Activities -$131.3K -$389.9K
Capital Expenditures -$245.3K -$38.05K
Free Cash Flow $114.0K -$351.8K
YoY Change -132.41% -23.51%

Facts In Submission

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us-gaap Payments For Proceeds From Short Term Investments
PaymentsForProceedsFromShortTermInvestments
-14129
us-gaap Payments For Proceeds From Short Term Investments
PaymentsForProceedsFromShortTermInvestments
1833
CY2019Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
149000
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-157736
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-476180
CY2019Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-259523
CY2018Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
21564
CY2018Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
114415
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
43477
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
257285
CY2019Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
4095
us-gaap Payments For Proceeds From Loans Receivable
PaymentsForProceedsFromLoansReceivable
201300
us-gaap Payments For Proceeds From Loans Receivable
PaymentsForProceedsFromLoansReceivable
-110003
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
826408
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
32122
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
46208
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
286811
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
31846
us-gaap Pension And Other Postretirement Benefits Expense Reversal Of Expense Noncash
PensionAndOtherPostretirementBenefitsExpenseReversalOfExpenseNoncash
220073
us-gaap Pension And Other Postretirement Benefits Expense Reversal Of Expense Noncash
PensionAndOtherPostretirementBenefitsExpenseReversalOfExpenseNoncash
0
CY2018Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.4380
CY2019Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.4380
CY2019Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
500
CY2018Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
500
CY2018Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2019Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
157142
CY2019Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
157142
CY2018Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2018Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2000000
CY2019Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2000000
CY2019Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1458597
CY2018Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
856959
us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
229173
us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
-64611
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
-129068
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
641684
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
473246
CY2019Q3 us-gaap Profit Loss
ProfitLoss
213333
CY2018Q3 us-gaap Profit Loss
ProfitLoss
199785
us-gaap Profit Loss
ProfitLoss
-1112025
us-gaap Profit Loss
ProfitLoss
-1718080
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
163995
CY2019Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
200191
us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
200000
us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
0
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
441906
CY2018Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
216730
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
795185
CY2019Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
63312
CY2019Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
1581620
CY2018Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
1699331
CY2019Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
3497760
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
4609785
us-gaap Revenues
Revenues
4475850
us-gaap Revenues
Revenues
5283268
CY2018Q3 us-gaap Revenues
Revenues
1874629
CY2019Q3 us-gaap Revenues
Revenues
1818347
CY2019Q3 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
137741
CY2018Q4 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
108534
CY2018Q4 ioni Stockholders Equity Attributable To Noncontrolling Interest Preferred Shares Issued By Subsidiary
StockholdersEquityAttributableToNoncontrollingInterestPreferredSharesIssuedBySubsidiary
0
ioni Income Loss From Continuing Operations After Income Taxes And Before Minority Interest And Equity Method Investments
IncomeLossFromContinuingOperationsAfterIncomeTaxesAndBeforeMinorityInterestAndEquityMethodInvestments
-1687033
CY2018Q3 ioni Income Loss From Continuing Operations After Income Taxes And Before Minority Interest And Equity Method Investments
IncomeLossFromContinuingOperationsAfterIncomeTaxesAndBeforeMinorityInterestAndEquityMethodInvestments
212134
CY2019Q3 ioni Earnings Per Share Before Noncontrolling Interest Basic
EarningsPerShareBeforeNoncontrollingInterestBasic
0.01
ioni Earnings Per Share Before Noncontrolling Interest Basic
EarningsPerShareBeforeNoncontrollingInterestBasic
-0.05
CY2018Q3 ioni Earnings Per Share Before Noncontrolling Interest Basic
EarningsPerShareBeforeNoncontrollingInterestBasic
0.01
CY2018Q4 us-gaap Short Term Investments
ShortTermInvestments
741417
CY2019Q3 us-gaap Short Term Investments
ShortTermInvestments
687588
CY2018Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
626062
CY2019Q3 us-gaap Short Term Borrowings
ShortTermBorrowings
457837
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
578
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
64797
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
63753
CY2018Q3 us-gaap Stockholders Equity Other
StockholdersEquityOther
801803
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
5910252
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
7434704
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
7435123
CY2019Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
6393107
CY2018Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
5959590
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
8017138
CY2019Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
6417144
CY2018Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
5379084
ioni Earnings Per Share Before Noncontrolling Interest Basic
EarningsPerShareBeforeNoncontrollingInterestBasic
-0.03
CY2019Q3 ioni Earnings Per Share Noncontrolling Interest Diluted
EarningsPerShareNoncontrollingInterestDiluted
0
ioni Earnings Per Share Noncontrolling Interest Diluted
EarningsPerShareNoncontrollingInterestDiluted
0
us-gaap Treasury Stock Value Acquired Par Value Method
TreasuryStockValueAcquiredParValueMethod
826986
CY2019Q3 us-gaap Treasury Stock Value
TreasuryStockValue
709478
CY2018Q4 us-gaap Treasury Stock Value
TreasuryStockValue
709478
CY2018Q3 ioni Earnings Per Share Noncontrolling Interest Diluted
EarningsPerShareNoncontrollingInterestDiluted
0
ioni Earnings Per Share Noncontrolling Interest Diluted
EarningsPerShareNoncontrollingInterestDiluted
0
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><div style="text-align: justify; color: #000000; font-style: italic; font-weight: bold;">Use of Estimates in the Preparation of Financial Statements</div><div><br /></div><div style="text-align: justify; color: #000000;">The preparation of the unaudited condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions as described in the Company&#8217;s Annual Report on Form 10-K for the year ended December 31, 2018. These estimates and assumptions may affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the unaudited condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting periods. As a result, actual results could materially differ from these estimates.</div></div>
CY2019Q3 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P5Y
CY2018Q3 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
89788
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35030339
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35030339
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31784293
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31784293
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
31784293
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
35030339
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
31784293
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
35030339
CY2018Q3 ioni Number Of Tranches For Investment
NumberOfTranchesForInvestment
3
ioni Royalty Contract Extension Period
RoyaltyContractExtensionPeriod
P5Y
ioni Average Foreign Currency Exchange Rate Translation
AverageForeignCurrencyExchangeRateTranslation
1121.59
CY2019Q3 ioni Average Foreign Currency Exchange Rate Translation
AverageForeignCurrencyExchangeRateTranslation
1162.18
CY2018Q3 ioni Average Foreign Currency Exchange Rate Translation
AverageForeignCurrencyExchangeRateTranslation
1090.88
ioni Average Foreign Currency Exchange Rate Translation
AverageForeignCurrencyExchangeRateTranslation
1193.24
ioni Average Foreign Currency Exchange Rate Translation
AverageForeignCurrencyExchangeRateTranslation
11.12
CY2018Q3 ioni Average Foreign Currency Exchange Rate Translation
AverageForeignCurrencyExchangeRateTranslation
9.95
ioni Average Foreign Currency Exchange Rate Translation
AverageForeignCurrencyExchangeRateTranslation
10.07
CY2019Q3 ioni Average Foreign Currency Exchange Rate Translation
AverageForeignCurrencyExchangeRateTranslation
10.66
ioni Income Loss From Continuing Operations After Income Taxes And Before Minority Interest And Equity Method Investments
IncomeLossFromContinuingOperationsAfterIncomeTaxesAndBeforeMinorityInterestAndEquityMethodInvestments
-1112025
CY2019Q3 ioni Income Loss From Continuing Operations After Income Taxes And Before Minority Interest And Equity Method Investments
IncomeLossFromContinuingOperationsAfterIncomeTaxesAndBeforeMinorityInterestAndEquityMethodInvestments
206271
CY2019Q3 ioni Earnings Per Share Before Noncontrolling Interest Diluted
EarningsPerShareBeforeNoncontrollingInterestDiluted
0.01
ioni Earnings Per Share Before Noncontrolling Interest Diluted
EarningsPerShareBeforeNoncontrollingInterestDiluted
-0.05
ioni Earnings Per Share Before Noncontrolling Interest Diluted
EarningsPerShareBeforeNoncontrollingInterestDiluted
-0.03
CY2018Q3 ioni Earnings Per Share Before Noncontrolling Interest Diluted
EarningsPerShareBeforeNoncontrollingInterestDiluted
0.01
CY2018Q3 ioni Earnings Per Share Noncontrolling Interest Basic
EarningsPerShareNoncontrollingInterestBasic
0
CY2019Q3 ioni Earnings Per Share Noncontrolling Interest Basic
EarningsPerShareNoncontrollingInterestBasic
0
ioni Earnings Per Share Noncontrolling Interest Basic
EarningsPerShareNoncontrollingInterestBasic
0
ioni Earnings Per Share Noncontrolling Interest Basic
EarningsPerShareNoncontrollingInterestBasic
0
CY2019Q3 ioni Stockholders Equity Attributable To Noncontrolling Interest Preferred Shares Issued By Subsidiary
StockholdersEquityAttributableToNoncontrollingInterestPreferredSharesIssuedBySubsidiary
481862
ioni Net Income Loss Including Portion Attributable To Noncontrolling Interests
NetIncomeLossIncludingPortionAttributableToNoncontrollingInterests
-1111451
ioni Net Income Loss Including Portion Attributable To Noncontrolling Interests
NetIncomeLossIncludingPortionAttributableToNoncontrollingInterests
-1718707
CY2018Q3 ioni Net Income Loss Including Portion Attributable To Noncontrolling Interests
NetIncomeLossIncludingPortionAttributableToNoncontrollingInterests
199733
CY2019Q3 ioni Net Income Loss Including Portion Attributable To Noncontrolling Interests
NetIncomeLossIncludingPortionAttributableToNoncontrollingInterests
213243
ioni Net Income Loss Attributable To Noncontrolling Interests
NetIncomeLossAttributableToNoncontrollingInterests
574
ioni Net Income Loss Attributable To Noncontrolling Interests
NetIncomeLossAttributableToNoncontrollingInterests
-586
ioni Proceeds From Sale Of Short Term Loans Receivable
ProceedsFromSaleOfShortTermLoansReceivable
0
ioni Proceeds From Sale Of Short Term Loans Receivable
ProceedsFromSaleOfShortTermLoansReceivable
14582
ioni Proceeds From Repayments Of Government Grants
ProceedsFromRepaymentsOfGovernmentGrants
0
ioni Proceeds From Repayments Of Government Grants
ProceedsFromRepaymentsOfGovernmentGrants
38589

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