I-ON Digital spins off subsidiary, issues preferred shares, pivots to bitcoin mining via IAC

I-ON Digital Corp.

Spin-off of I-On Communications to JFJ Digital; 15,306,119 common shares returned by CEO and director.
Issued 3,000 Series A Preferred shares to I-ON Acquisition Corp. for $250,000 promissory note secured by pledge.
Issued 6,000 Series B Preferred shares to purchasers in exchange for asset assignments.
Each Series A share converts to 10,000 common shares; each Series B converts to 1,000 common shares.
Company to adopt IAC's operations providing funding and hashing power for bitcoin mining after closing.

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