What we have here is a wonderful reference to the Holy Triune God.
Saint Andrew of Caesarea writes on this verse, "Grace to you and peace from the Three Persons of the Holy Trinity, explaining that "the One Who Is" refers to the Father." "The One Who was" reminds us of some key verses of Saint in his Gospel where he says, "In the beginning was the Logos/Word" (John 1:1)-in the beginning of the creation that is. So, this "Who was" refers to the Son. And "the One Who is coming" refers to the Paraclete/tos or the Holy Spirit. Who came and stays in the Church and sanctifies the children of God through Holy Baptism.
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