I-ON Digital Corp. Files Q1 2024 10-Q
Ticker: IONI · Form: 10-Q · Filed: Jul 12, 2024 · CIK: 1580490
| Field | Detail |
|---|---|
| Company | I-On Digital Corp. (IONI) |
| Form Type | 10-Q |
| Filed Date | Jul 12, 2024 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.0001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, corporate-filing, financials
TL;DR
IONI Q1 2024 10-Q filed. Financials and stock details updated.
AI Summary
I-ON Digital Corp. filed its quarterly report for the period ending March 31, 2024. The company, formerly known as Evans Brewing Co Inc., is based in Chicago, IL. The filing details financial information and corporate structure, including various series of preferred stock and common stock.
Why It Matters
This filing provides investors with an update on I-ON Digital Corp.'s financial performance and corporate status for the first quarter of 2024.
Risk Assessment
Risk Level: medium — The company has a history of name changes and the SIC code 'MALT BEVERAGES' seems outdated given the company's current focus, suggesting potential business model shifts or complexities.
Key Numbers
- 2024-03-31 — Reporting Period End Date (Indicates the end of the financial quarter being reported.)
- 2024-07-12 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)
Key Players & Entities
- I-ON Digital Corp. (company) — Filer of the 10-Q report
- Evans Brewing Co Inc. (company) — Former name of I-ON Digital Corp.
- 20240331 (date) — End of the reporting period
- 20240712 (date) — Date of filing
- Chicago, IL (location) — Company's business and mailing address
FAQ
What is the primary business of I-ON Digital Corp. as of March 31, 2024?
The filing lists the Standard Industrial Classification as 'MALT BEVERAGES [2082]', however, the company has undergone name changes suggesting a potential shift in business focus.
What were the key financial reporting dates for this 10-Q filing?
The Conformed Period of Report is 20240331, and the filing was made as of 20240712.
Has I-ON Digital Corp. always been known by its current name?
No, the company was formerly known as I-ON Communications Corp. and prior to that, Evans Brewing Co Inc.
Where is I-ON Digital Corp. located?
The company's business and mailing address is 1244 N. STONE ST., UNIT #3, CHICAGO, IL 60610.
What types of stock are mentioned in relation to I-ON Digital Corp. as of March 31, 2024?
The filing references Series A Preferred Stock, Series C Preferred Stock, Series AIssued, and Common Stock.
Filing Stats: 4,543 words · 18 min read · ~15 pages · Grade level 15.9 · Accepted 2024-07-12 17:09:14
Key Financial Figures
- $0.0001 — e Exchange Act: Common Stock, Par Value $0.0001 Indicate by check mark whether the re
Filing Documents
- form10-q.htm (10-Q) — 523KB
- ex31-1.htm (EX-31.1) — 13KB
- ex31-2.htm (EX-31.2) — 7KB
- 0001493152-24-027124.txt ( ) — 3379KB
- ioni-20240331.xsd (EX-101.SCH) — 23KB
- ioni-20240331_cal.xml (EX-101.CAL) — 31KB
- ioni-20240331_def.xml (EX-101.DEF) — 139KB
- ioni-20240331_lab.xml (EX-101.LAB) — 264KB
- ioni-20240331_pre.xml (EX-101.PRE) — 227KB
- form10-q_htm.xml (XML) — 358KB
Financial Statements (UNAUDITED)
Financial Statements (UNAUDITED) Condensed Consolidated Balance Sheets (UNAUDITED) 4 Condensed Consolidated Statements of Operations (UNAUDITED) 5 Condensed Consolidated Statements of Stockholders' Equity (UNAUDITED) 6 Condensed consolidated Statements of Cash Flows (UNAUDITED) 7 Notes to Condensed Consolidated Financial Statements (UNAUDITED) 8 3 I-ON Digital Corp. Condensed Consolidated Balance Sheets March 31, 2024 December 31, 2023 (Unaudited) Assets Current assets: Cash and cash equivalents $ 1,744 $ 36,075 Prepayments 105,695 109,764 Other current asset 5,500 - Total current assets 112,939 145,839 Non-current assets: Intangible assets, net 18,379,927 18,400,927 Total non-current assets 18,379,927 18,400,927 Total Assets $ 18,492,866 $ 18,546,766 Liabilities and Stockholders' Equity Current liabilities: Accrued expenses $ 133,876 $ 100,659 Accrued interest 216,712 79,589 Deferred revenue – related party - 32,625 Due to related parties 248,220 167,909 Loans payable 495,019 473,026 Total current liabilities 1,093,827 853,808 Total liabilities 1,093,827 853,808 Commitments and contingencies - - Stockholders' Equity Preferred stock Series A - $ 0.0001 par value; authorized 6,000 shares and 4,600 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively - - Preferred stock Series A to be issued ( 803 shares as of March 31, 2024 and December 31, 2023) 176,342 176,342 Preferred stock Series C - $ 0.0001 par value; authorized 910,000 shares issued and outstanding at March 31, 2024 and December 31, 2023 91 91 Preferred stock value 91 91 Common stock - $ 0.0001 par value; authorized 100,000,000 shares; 27,410,234 shares issued and outstanding at March 31, 2024 and December 31, 2023 2,741 2,741 Additional paid-in-capital 21,010,285 21,010,285 Accumulated retained earnings ( 3,790,420 ) ( 3,496,501 ) Total stockholder