I-ON Digital Corp. Files 2023 Annual Report

TL;DR

IONI 10-K filed: full year financials out, check for details.

AI Summary

I-ON Digital Corp. filed its 10-K for the fiscal year ending December 31, 2023. The company, formerly known as Evans Brewing Co Inc. and I-ON Communications Corp., is incorporated in Delaware and headquartered in Chicago, IL. The filing covers financial information and business operations for the period.

Why It Matters

This 10-K filing provides a comprehensive overview of I-ON Digital Corp.'s financial health and business activities for the past fiscal year, crucial for investors and stakeholders to assess performance and future prospects.

Risk Assessment

Risk Level: medium — The company has undergone multiple name changes and its SIC code is 'MALT BEVERAGES', suggesting potential shifts in business focus or historical operations that warrant further investigation.

Key Players & Entities

• I-ON Digital Corp. (company) — Filer of the 10-K
• 20231231 (date) — Fiscal year end
• 20240606 (date) — Filing date
• Evans Brewing Co Inc. (company) — Former company name
• I-ON Communications Corp. (company) — Former company name
• DE (location) — State of incorporation
• CHICAGO (location) — City of business address
• IL (location) — State of business address
• 60610 (postal_code) — ZIP code of business address

FAQ

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 per share IONI OTC Markets LLC Se
• $0.296 — ion based on the closing sales price of $0.296 on the OTC Markets. All executive offic
• $250,000 — eferred") for proceeds in the amount of $250,000 (the "Subscription Amount") in the form

Filing Documents

• form10-k.htm (10-K) — 1148KB
• ex19-1.htm (EX-19.1) — 97KB
• ex21-1.htm (EX-21.1) — 2KB
• ex31-1.htm (EX-31.1) — 18KB
• ex32-1.htm (EX-32.1) — 8KB
• 0001493152-24-022975.txt ( ) — 4859KB
• ioni-20231231.xsd (EX-101.SCH) — 39KB
• ioni-20231231_cal.xml (EX-101.CAL) — 51KB
• ioni-20231231_def.xml (EX-101.DEF) — 140KB
• ioni-20231231_lab.xml (EX-101.LAB) — 356KB
• ioni-20231231_pre.xml (EX-101.PRE) — 271KB
• form10-k_htm.xml (XML) — 503KB

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 7 Item 1B. Unresolved Staff Comments 14 Item 2.

Properties

Properties 15 Item 3.

Legal Proceedings

Legal Proceedings 15 Item 4. Mine Safety Disclosures 15 PART II Item 5. Market for the Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 15 Item 6.

Selected Financial Data

Selected Financial Data 17 Item 7.

Management's Discussion and Analysis of Plan of Operation and Results of Operations

Management's Discussion and Analysis of Plan of Operation and Results of Operations 17 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 18 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 19 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 35 Item 9A.

Controls and Procedures

Controls and Procedures 35 Item 9B. Other Information 36 PART III Item 10. Directors, Executive Officers, Promoters and Corporate Governance. 36 Item 11.

Executive Compensation

Executive Compensation 37 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 38 Item 13. Certain Relationships and Related Transactions and Director Independence 39 Item 14. Principal Accountant Fees and Services 39 PART IV Item 15. Exhibits, Financial Statement Schedules 40

SIGNATURES

SIGNATURES 42 2 PART I SPECIAL NOTE ON FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K and the information incorporated herein by reference contain forward-looking statements that involve a number of risks and uncertainties, many of which are beyond our control. Although our forward-looking statements reflect the good faith judgment of our management, these statements can only be based on facts and factors currently known by us. Consequently, these forward-looking outcomes discussed in the forward-looking statements as a result of various factors, including those set forth below under the caption "Risk Factors." In some cases, you can identify forward-looking statements by terms such as "anticipates", "believes," "estimates," "intends", "plans", "could," "possibly," "probably," anticipates," "projects," "expects," "may," "will," or "should," "designed to," "designed for," or other variations or similar words or language. In addition, statements that "we believe" and similar statements reflect our beliefs and opinions on the relevant subject. These statements include, but are not limited to, statements under the captions "Business," "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations," as well as other sections in this Annual Report on Form 10-K. We discuss many of the risks associated with the forward-looking statements in this Annual Report on Form 10-K in greater detail under the heading "Risk Factors." Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained

forward-looking statements, whether as a result of new information, future events or otherwise

forward-looking statements, whether as a result of new information, future events or otherwise. This Annual Report on Form 10-K also contains estimates, projections and other information concerning our industry, our business, and the markets for our product candidates, as well as data regarding market research, estimates and forecasts prepared by our management. Information that is based on estimates, forecasts, projections, market research or similar methodologies is inherently subject to uncertainties, and actual events or circumstances may differ materially from events and circumstances reflected in this information. Unless otherwise expressly stated, we obtained this industry, business, market and other data from reports, research surveys, studies and similar data prepared by market research firms and other third parties, industry, medical and general publications, government data and similar sources. As used in this Annual Report on Form 10-K, unless the context indicates or otherwise requires, "I-ON," "our company," "we," "us," and "our" refer to I-ON Digital Corp., a Delaware corporation. You should read the following together with the more detailed information regarding our company, our common stock and our financial statements and notes to those statements appearing elsewhere in this report or incorporated by reference. The SEC allows us to "incorporate by reference" information that we file with the SEC, which means that we can disclose important information to you by referring you to those documents. The information incorporated by reference is considered to be part of this report. 3 Item 1. Business. About I-ON I-ON is a leading-edge provider of asset-digitization and securitization solutions engineered to provide a secure, fast, transparent, and institutional-grade ecosystem that digitizes documentary evidence of ownership, in accordance with a rigorous onboarding and acceptance process, into secure, asset-backed digital certificates that br

View Full Filing

View this 10-K filing on SEC EDGAR