Thu, Jun 6, 9:27 PM (93 days ago)
I-ON Digital Corp., formerly known as I-ON Communications Corp., reported its financial performance for the fiscal year ended December 31, 2023. The company faced significant changes, including the sell-off of its subsidiaries and a shift in business strategy under new management. Key financial highlights include: - **Revenue**: $97,875 in 2023, a sharp decline from $7,578,685 in 2022 due to the sell-off of subsidiaries. - **Net Income**: Net loss of $805,138 in 2023, compared to a net loss of $27,625 in 2022. - **Operating Expenses**: Decreased to $740,404 in 2023 from $2,714,315 in 2022, reflecting reduced operational activities post-sell-off. - **Earnings Per Share**: Basic and diluted loss per share of $(0.03) for continuing operations in 2023. - **Strategic Overview**: The company focused on asset digitization and securitization, acquiring Orebits Corp. and its gold digitization technology. - **Future Outlook**: Plans to enhance digital asset management solutions and expand into new markets. The company's financial condition shows a shift towards new digital asset ventures, with significant investments in technology and strategic acquisitions aimed at driving future growth.