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IOR Income Opportunity Realty Investments

17.81
-0.24 (-1.33%)
24 Dec 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Income Opportunity Realty Investments AMEX:IOR AMEX Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  -0.24 -1.33% 17.81 18.00 16.95 16.95 1,916 20:12:07

Form 8-K - Current report

10/08/2023 9:23pm

Edgar (US Regulatory)


0000949961 false 0000949961 2023-08-10 2023-08-10 iso4217:USD xbrli:shares iso4217:USD xbrli:shares
 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

Current Report

 

Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported) August 10, 2023

 

Income Opportunity Realty Investors, Inc.

(Exact name of registrant as specified in its charter)

 

Nevada 001-14784 75-2615944
(State or other jurisdiction of
Incorporation or organization)
(Commission File Number) (IRS Employer Identification Number)

 

1603 LBJ Freeway, Suite 800
Dallas, TX
  75234
(Address of principal executive offices)   (Zip Code)

 

(469) 522-4200

Registrant's Telephone Number, including area code

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Securities Act (17 CFR 230.425)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Securities Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Securities Act (17 CFR 240.413e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

Trading Symbol(s)

Name of each exchange on which registered
Common Stock IOR NYSE American Exchange

 

Indicate by check mark whether the Registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 ((17 CFR 230.405 of or Rule 12b-2 of the Securities Act of 1934 (17 CFR 230.405):

Emerging growth company

If an emerging growth company indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 
 

Section 2 – Financial Information

 

Item 2.02. Results of Operations and Financial Condition

 

On August 10, 2023, Income Opportunity Realty Investors, Inc. (“IOR” or the “Company”) announced its operational results for the quarter ended June 30, 2023. A copy of the announcement is attached as Exhibit “99.1.”

 

The information furnished pursuant to Item 2.02 in this Form 8-K, including Exhibit “99.1” attached hereto, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that Section, unless we specifically incorporate it by reference in a document filed under the Securities Act of 1933 or the Securities Exchange Act of 1934. We undertake no duty or obligation to publicly update or revise the information furnished pursuant to Item 2.02 of this Current Report on Form 8-K.

 

Section 9 – Financial Statements and Exhibits

 

Item 9.01. Financial Statements and Exhibits

 

(d) Exhibits.

 

The following exhibit is furnished with this Report:

 

Exhibit No.   Description  
99.1*   Press release dated August 10, 2023

 

* Furnished herewith

 

 

 

 

 
 

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

    INCOME OPPORTUNITY REALTY INVESTORS, INC.
     
Dated: August 10, 2023 By: /s/  ERIK L. JOHNSON
    Erik L. Johnson
    Executive Vice President and Chief Financial Officer
    (Principal Executive and Financial Officer)

 

 

 

 

INCOME OPPORTUNITY REALTY INVESTORS, INC. 8-K

 

Exhibit 99.1

 

 

 

NEWS RELEASE   Contact:
    Income Opportunity Realty Investors, Inc. Investor Relations
FOR IMMEDIATE RELEASE   Erik Johnson (469) 522-4200 investor.relations@incomeopp-invest.com

 

 

Income Opportunity Realty Investors, Inc. reports Earnings for Quarter Ended June 30, 2023

 

DALLAS (August 10, 2023) -- Income Opportunity Realty Investors, Inc. (NYSE American:IOR) is reporting its results of operations for the quarter ended June 30, 2023. For the three months ended June 30, 2023, we reported net income attributable to common shares of $1.8 million or $0.44 per diluted share compared to a net income of $0.8 million or $0.20 per share for the same period in 2022. Our increase in net income is attributable to an increase in interest income due to an increase in interest rates in 2023.

 

About Income Opportunity Realty Investors, Inc.

 

Income Opportunity Realty Investors, Inc., a Dallas-based real estate investment company, currently holds a portfolio of notes receivable. The Company invests in real estate through direct equity ownership and partnerships. For more information, visit the Company’s website at www.incomeopp-realty.com.

 

   
 

 

INCOME OPPORTUNITY REALTY INVESTORS, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(Dollars in thousands, except per share amounts)

(Unaudited)

   Three Months Ended June 30,  Six Months Ended June 30,
   2023  2022  2023  2022
Revenues:            
Other income   —      —      —      —   
Expenses:                    
General and administrative   76    68    294    260 
Advisory fee to related party   380    273    699    541 
Total operating expenses   456    341    993    801 
Net operating loss   (456)   (341)   (993)   (801)
Interest income from related parties   2,778    1,433    4,644    2,685 
Income tax provision   (488)   (244)   (767)   (410)
Net income   1,834    848    2,884    1,474 
                     
Earnings per share                    
Basic and diluted  $0.44   $0.20   $0.69   $0.35 
Weighted average common shares used in computing earnings per share                    
Basic and diluted   4,168,414    4,168,414    4,168,414    4,168,414 

 

   

 

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Cover
Aug. 10, 2023
Cover [Abstract]  
Document Type 8-K
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Document Period End Date Aug. 10, 2023
Entity File Number 001-14784
Entity Registrant Name Income Opportunity Realty Investors, Inc.
Entity Central Index Key 0000949961
Entity Tax Identification Number 75-2615944
Entity Incorporation, State or Country Code NV
Entity Address, Address Line One 1603 LBJ Freeway
Entity Address, Address Line Two Suite 800
Entity Address, City or Town Dallas
Entity Address, State or Province TX
Entity Address, Postal Zip Code 75234
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Title of 12(b) Security Common Stock
Trading Symbol IOR
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Entity Emerging Growth Company false

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