$IONI
I-ON Digital Corp.

2024 Q2 Form 10-Q Financial Statement

#000149315224031535 Filed on August 13, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2023 Q2
Revenue $32.63K
YoY Change -98.86%
Cost Of Revenue $21.00K
YoY Change -99.15%
Gross Profit $11.63K
YoY Change -96.98%
Gross Profit Margin 35.63%
Selling, General & Admin $280.5K $160.0K
YoY Change 75.36% -73.15%
% of Gross Profit 1375.91%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $0.00 $21.00K
YoY Change -100.0% -22.44%
% of Gross Profit 180.65%
Operating Expenses $280.5K $160.0K
YoY Change 75.36% -80.57%
Operating Profit -$280.5K -$148.3K
YoY Change 89.11% -66.13%
Interest Expense -$159.1K
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$439.6K -$148.3K
YoY Change 196.37% -63.47%
Income Tax
% Of Pretax Income
Net Earnings -$439.6K -$148.3K
YoY Change 196.38% -56.54%
Net Earnings / Revenue -454.64%
Basic Earnings Per Share -$0.02 $0.00
Diluted Earnings Per Share -$0.02 -$0.01
COMMON SHARES
Basic Shares Outstanding 27.41M shares 20.99M
Diluted Shares Outstanding 27.41M shares 26.67M shares

Balance Sheet

Concept 2024 Q2 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $156.4K $100.8K
YoY Change 55.12% -96.07%
Cash & Equivalents $156.4K $100.8K
Short-Term Investments
Other Short-Term Assets $104.3K $70.58K
YoY Change 47.82% -97.26%
Inventory
Prepaid Expenses $104.3K $70.58K
Receivables
Other Receivables
Total Short-Term Assets $260.7K $171.4K
YoY Change 52.1% -98.45%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles $582.7K
YoY Change 53.95%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $18.38M $582.7K
YoY Change 3054.32% -70.98%
TOTAL ASSETS
Total Short-Term Assets $260.7K $171.4K
Total Long-Term Assets $18.38M $582.7K
Total Assets $18.64M $754.1K
YoY Change 2371.98% -94.21%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $694.1K $119.7K
YoY Change 479.95% -77.7%
Accrued Expenses $116.2K $102.5K
YoY Change 13.38% -94.81%
Deferred Revenue
YoY Change
Short-Term Debt $517.0K $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.681M $491.4K
YoY Change 242.13% -84.29%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.681M $491.4K
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $1.681M $491.4K
YoY Change 242.13% -84.29%
SHAREHOLDERS EQUITY
Retained Earnings -$4.230M -$3.019M
YoY Change 40.11% -138.94%
Common Stock $21.01M $3.282M
YoY Change 540.28% -11.7%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $16.96M $262.7K
YoY Change
Total Liabilities & Shareholders Equity $18.64M $754.1K
YoY Change 2371.98% -94.21%

Cashflow Statement

Concept 2024 Q2 2023 Q2
OPERATING ACTIVITIES
Net Income -$439.6K -$148.3K
YoY Change 196.38% -56.54%
Depreciation, Depletion And Amortization $0.00 $21.00K
YoY Change -100.0% -22.44%
Cash From Operating Activities -$291.3K -$144.2K
YoY Change 102.02% -89.82%
INVESTING ACTIVITIES
Capital Expenditures $269.7K
YoY Change -837.66%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$269.7K
YoY Change -39.3%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 445.9K 164.7K
YoY Change 170.76% -35.41%
NET CHANGE
Cash From Operating Activities -291.3K -144.2K
Cash From Investing Activities -269.7K
Cash From Financing Activities 445.9K 164.7K
Net Change In Cash 154.6K -249.2K
YoY Change -162.04% -84.48%
FREE CASH FLOW
Cash From Operating Activities -$291.3K -$144.2K
Capital Expenditures $269.7K
Free Cash Flow -$413.9K
YoY Change -70.0%

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<p id="xdx_84E_eus-gaap--UseOfEstimates_zZsZThCUCGMb" 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; background-color: white"><b><i><span id="xdx_864_zjQzjC1CYSAf">Use of Estimates in the Preparation of Financial Statements</span></i></b></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> <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; background-color: white">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: 10pt 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_84F_eus-gaap--ConcentrationRiskCreditRisk_zwuv54sXdOVe" 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_863_zi3tWOUIKwpd">Concentration of Credit Risk</span></i></b></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> <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: 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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CY2024Q2 us-gaap Adjustment For Amortization
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2445 usd
CY2024Q2 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
815 usd
CY2023Q4 us-gaap Payments To Employees
PaymentsToEmployees
100000 usd
CY2024Q2 us-gaap Payments To Suppliers
PaymentsToSuppliers
2699 usd
CY2024Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
104325 usd
CY2023Q4 IONI Other Nonoperating Impairment Loss
OtherNonoperatingImpairmentLoss
-8199 usd
CY2023 IONI Asset Value
AssetValue
327501 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
18379927 usd
CY2023Q1 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
130500 usd
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
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
43986 usd
us-gaap Interest Expense Debt
InterestExpenseDebt
54981 usd
CY2024Q2 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
32988 usd
CY2024Q2 us-gaap Loans Payable Current
LoansPayableCurrent
517012 usd
us-gaap Interest Expense
InterestExpense
274247 usd
CY2024Q2 us-gaap Interest Payable Current
InterestPayableCurrent
353836 usd
CY2022Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
19724220 shares
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
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
176342 usd
CY2023 us-gaap Convertible Preferred Stock Terms Of Conversion
ConvertiblePreferredStockTermsOfConversion
share of Series C Preferred C Stock is convertible into twenty (20) shares Common Stock and is entitled to twenty (20) votes per share.
CY2024Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
27410234 shares
CY2024Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
27410234 shares
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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Financial_Report.xlsx Edgar Link pending
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ioni-20240630.xsd Edgar Link pending
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