$IONI
I-ON Digital Corp.

2024 Q3 Form 10-Q Financial Statement

#000149315224027124 Filed on July 12, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q1 2023 Q1
Revenue $32.63K $0.00
YoY Change -100.0%
Cost Of Revenue $21.00K $0.00
YoY Change -100.0%
Gross Profit $11.63K $0.00
YoY Change -100.0%
Gross Profit Margin 35.63%
Selling, General & Admin $344.3K $146.4K $179.5K
YoY Change 188.93% -18.41% -73.41%
% of Gross Profit 1259.61%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $0.00 $21.00K
YoY Change -100.0%
% of Gross Profit 180.65%
Operating Expenses $344.3K $146.4K $179.5K
YoY Change 189.15% -18.42% -79.49%
Operating Profit -$344.3K -$134.8K -$179.5K
YoY Change 201.72% -24.89% -74.44%
Interest Expense -$160.6K $137.1K
YoY Change
% of Operating Profit
Other Income/Expense, Net -$131.1K $0.00
YoY Change -100.0%
Pretax Income -$475.4K -$293.9K -$179.5K
YoY Change 316.65% 63.76% -166.0%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$475.4K -$293.9K -$179.5K
YoY Change 316.65% 63.76% -143.51%
Net Earnings / Revenue -900.9%
Basic Earnings Per Share -$0.02 -$0.01 -$0.01
Diluted Earnings Per Share -$0.02 -$0.01 -$0.01
COMMON SHARES
Basic Shares Outstanding 27.41M shares 27.41M shares 19.72M
Diluted Shares Outstanding 27.41M shares 27.41M shares 50.66M

Balance Sheet

Concept 2024 Q3 2024 Q1 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $200.0K $1.740K $350.0K
YoY Change 68851.72% -99.5% -92.0%
Cash & Equivalents $200.0K $1.744K $350.0K
Short-Term Investments
Other Short-Term Assets $108.8K $5.500K
YoY Change 355.02%
Inventory
Prepaid Expenses $108.8K $105.7K
Receivables
Other Receivables
Total Short-Term Assets $308.8K $112.9K $350.0K
YoY Change 1175.91% -67.73% -97.16%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles $18.29M $84.00K
YoY Change 2301.12%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $18.29M $18.38M $84.00K
YoY Change 2301.12% 21780.87% -95.64%
TOTAL ASSETS
Total Short-Term Assets $308.8K $112.9K $350.0K
Total Long-Term Assets $18.29M $18.38M $84.00K
Total Assets $18.60M $18.49M $434.0K
YoY Change 2266.47% 4161.03% -96.95%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $983.0K $248.2K $174.5K
YoY Change 543.77% 42.25% -68.57%
Accrued Expenses $99.34K $133.9K $88.98K
YoY Change -59.12% 50.46% -95.86%
Deferred Revenue
YoY Change
Short-Term Debt $539.0K $495.0K $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.114M $1.094M $613.5K
YoY Change 358.56% 78.3% -80.39%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $2.114M $1.094M $613.5K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $2.114M $1.094M $613.5K
YoY Change 358.56% 78.3% -84.99%
SHAREHOLDERS EQUITY
Retained Earnings -$4.705M -$3.790M -$2.871M
YoY Change 50.18% 32.03%
Common Stock $21.01M $21.01M $2.691M
YoY Change 540.28% 680.76%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $16.48M $17.40M -$179.5K
YoY Change
Total Liabilities & Shareholders Equity $18.60M $18.49M $434.0K
YoY Change 2266.47% 4161.03% -96.95%

Cashflow Statement

Concept 2024 Q3 2024 Q1 2023 Q1
OPERATING ACTIVITIES
Net Income -$475.4K -$293.9K -$179.5K
YoY Change 316.65% 63.76% -143.51%
Depreciation, Depletion And Amortization $0.00 $21.00K
YoY Change -100.0%
Cash From Operating Activities -$340.0K -$114.6K $259.5K
YoY Change 229.46% -144.18% -346.06%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $84.00K
YoY Change -100.0% -657.4%
Acquisitions
YoY Change
Other Investing Activities $94.74K
YoY Change
Cash From Investing Activities $94.74K -$84.00K
YoY Change -145.84% -251.41%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 288.8K $80.31K 174.5K
YoY Change 37.97% -53.98% -2445.43%
NET CHANGE
Cash From Operating Activities -340.0K -$114.6K 259.5K
Cash From Investing Activities 94.74K -84.00K
Cash From Financing Activities 288.8K $80.31K 174.5K
Net Change In Cash 43.60K -$34.33K 350.0K
YoY Change -143.38% -109.81% -709.54%
FREE CASH FLOW
Cash From Operating Activities -$340.0K -$114.6K $259.5K
Capital Expenditures $0.00 $84.00K
Free Cash Flow -$114.6K $175.5K
YoY Change -165.32% -294.16%

Facts In Submission

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<p id="xdx_849_eus-gaap--UseOfEstimates_zh0rv4pJMlT1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86F_zP1jMAZoA22f">Use of Estimates in the Preparation of Financial Statements</span></i></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of the financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the 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.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
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<p id="xdx_842_eus-gaap--ConcentrationRiskCreditRisk_zwgnuvPeQIOh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_869_z3WU9C61B9fl">Concentration of Credit Risk</span></i></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments that potentially subject the Company to concentrations of credit risk are cash arising from its normal business activities. The Company has its cash in high credit quality institutions. The Company currently does not provide for or issue extensions of credit to its clients, vendors or employees. If the Company’s board of directors elected to make a change in current policy, management, pursuant to policy and procedure implementation of the same, would establish methodologies for monitoring and assessing corresponding risks, inclusive of the potential for concentrations and the related adequacy of loss reserves going forward.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>
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-0.01
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.01
CY2023Q3 us-gaap Professional Fees
ProfessionalFees
9780 usd
CY2024Q1 us-gaap Adjustment For Amortization
AdjustmentForAmortization
2445 usd
CY2024Q1 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
3260 usd
CY2023Q4 us-gaap Payments To Employees
PaymentsToEmployees
100000 usd
CY2024Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
105695 usd
CY2023Q4 IONI Other Nonoperating Impairment Loss
OtherNonoperatingImpairmentLoss
-8199 usd
CY2023 IONI Asset Value
AssetValue
327501 usd
CY2024Q1 IONI Other Nonoperating Impairment Loss
OtherNonoperatingImpairmentLoss
-0 usd
CY2024Q1 IONI Asset Value
AssetValue
327501 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
18379927 usd
CY2023Q1 us-gaap Other Income
OtherIncome
130500 usd
CY2024Q1 us-gaap Revenues
Revenues
32625 usd
CY2023Q4 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
550000 usd
CY2023Q4 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
1 pure
CY2024Q1 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
21993 usd
CY2024Q1 us-gaap Interest Expense Debt
InterestExpenseDebt
32989 usd
CY2024Q1 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
54981 usd
CY2024Q1 us-gaap Loans Payable Current
LoansPayableCurrent
495019 usd
CY2024Q1 us-gaap Interest Expense
InterestExpense
137123 usd
CY2024Q1 us-gaap Interest Payable Current
InterestPayableCurrent
216712 usd
CY2022Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
19724220 shares
CY2024Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
100000 usd
CY2023Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
71342 usd
CY2023Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
5000 usd
CY2024Q1 us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
176342 usd
CY2024Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
27410234 shares
CY2024Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
27410234 shares
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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0001493152-24-027124-index.html Edgar Link pending
0001493152-24-027124.txt Edgar Link pending
0001493152-24-027124-xbrl.zip Edgar Link pending
ex31-1.htm Edgar Link pending
ex31-2.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
form10-q.htm Edgar Link pending
ioni-20240331.xsd Edgar Link pending
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form10-q_htm.xml Edgar Link completed