I-ON DIGITAL CORP. Management's Discussion and Analysis of Financial Condition and Results of Operations. (form 10-Q/A) – Marketscreener.com

Forward Looking Statements
The following discussion should be read in conjunction with our interim financial statements and the related notes that appear elsewhere in this quarterly report.
Business Overview
Organization and Corporate History
——————————————————————————–
Table of Contents
23
——————————————————————————–
Table of Contents
Results of Operations
Comparison of results of operations for the three months ended June 30, 2022 as Compared to the three months ended June 30, 2021
The following table sets forth selected items from our interim unaudited condensed consolidated statements of operations by dollar and as a percentage of our net sales for the periods indicated:
——————————————————————————–
Table of ContentsNet SalesCost of Goods Sold
The decrease in gross profit was mainly due to decreased Net Sales above.
Research and Development
General and Administrative
Provision for Income Tax
Change in tax provision was not material.
Comprehensive income – Foreign currency translation
Comparison of results of operations for the six months ended June 30, 2022 as Compared to the six months ended June 30, 2021
The following table sets forth selected items from our interim unaudited condensed consolidated statements of operations by dollar and as a percentage of our net sales for the periods indicated:
——————————————————————————–
Table of ContentsNet SaleCost of Goods Sold
The decrease in gross profit was mainly due to decreased Net Sales above.
Research and Development
General and Administrative
General and administrative expenses increased by $202,472 or 18.8%, to $1,279,945 for the six months ended June 30, 2022 from $1,077,473 for the six months ended June 30, 2021. The expenses have been continuously increased mainly due to an increase in salary.
Other Income (Expense)
Provision for Income Tax
Change in tax provision was not material.
Comprehensive income – Foreign currency translation
——————————————————————————–
Table of Contents
Liquidity and Capital Resources
Net cash used in operating activities (1,530,783 ) (769,791 )
Cash used in operating activities for the six months ended June 30, 2022 was $1,530,783, compared to $769,791 for the six months ended June 30, 2021, an increase of $760,992, or approximately 98.9%. The increase in cash used in operating activities was primarily due to decrease in deferred taxes and increase in non-controlling interest loss.
Investing Activities
Financing Activities
27
——————————————————————————–
Table of Contents
© Edgar Online, source Glimpses

source