secwatch.observer — SEC 8-K summary
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Issuer:     I-ON Digital Corp. (IONI)
CIK:        0001580490
Form:       8-K
Filed at:   2022-10-05T23:59:59+00:00
Accession:  0001140361-22-036287
Event type: other_material
Sentiment:  neutral
Materiality: 0.90
Item codes: 1.01, 3.02, 5.01, 2.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1580490/000114036122036287/0001140361-22-036287-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1580490/000114036122036287/brhc10042709_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-22-036287

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