I-ON Digital Corp. reported its financial results for the first quarter of 2025, revealing a significant decline in revenue and an increase in operating expenses compared to the same period in 2024. The company recorded no net sales for the three months ended March 31, 2025, down from $32,625 in the prior year, as a lease generating revenue expired at the end of March 2024. Consequently, the gross profit also fell to zero from $11,625. Operating expenses surged to $348,409, compared to $146,428 in the previous year, primarily due to increased professional fees and general administrative costs associated with growth initiatives.

The company's net loss for the quarter was $348,409, compared to a loss of $293,919 in the same quarter of 2024. This resulted in a loss per share of $0.01, consistent with the previous year. The total assets of I-ON Digital Corp. decreased slightly to $18.31 million as of March 31, 2025, from $18.42 million at the end of 2024. The decline in cash and cash equivalents was notable, dropping to $189,420 from $270,095, reflecting the company's ongoing cash burn.

Strategically, I-ON Digital Corp. has made significant moves, including the acquisition of Orebits Corp. in December 2023, which has expanded its asset base with 9,700 gold-backed digital assets valued at approximately $17.6 million. This acquisition is expected to enhance the company's capabilities in asset digitization and securitization. The company is also focused on developing its ION Digital Hybrid Blockchain Platform, which aims to facilitate the digitization of ownership records for various asset classes, including gold and precious metals.

Operationally, the company has seen an increase in related-party financing, with advances rising to $206,787 in the first quarter of 2025, compared to $80,311 in the same period last year. This funding is crucial as the company continues to navigate its financial challenges. As of March 31, 2025, I-ON Digital Corp. had a total of 31,106,234 shares outstanding, with no changes in its common stock or preferred stock transactions during the quarter.

Looking ahead, I-ON Digital Corp. anticipates executing multiple term sheets in the second quarter of 2025, which could potentially enhance its revenue streams. The company plans to conduct private placements to raise up to $100 million to support its operations and growth initiatives. However, management has acknowledged the uncertainty surrounding these plans, emphasizing that actual results may vary significantly from current projections.

About I-ON Digital Corp.

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