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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

08/01/2024 10:30pm

Edgar (US Regulatory)


false 0000949961 0000949961 2024-01-02 2024-01-02 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

 

 

Date of Report (Date of earliest event reported): January 2, 2024

 

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)

(Commission File No.) (I.R.S. Employer Identification No.)
     

1603 LBJ Freeway, Suite 800

Dallas, Texas

 

75234

(Address of principal executive offices) (Zip Code)

 

Registrant’s telephone number, including area code 469-522-4200

 

 
(Former name or former address, if changed since last report)

 

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 Exchange Act (17 CFR 240.14a-12)
¨Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

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

 

Title of Each Class

Trading

Symbol

Name of Each Exchange on which Registered

Common Stock, par value $0.01

IOR

NYSE American

 

Indicate by check mark whether the Registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 ('230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 ('240.12b-2 of this chapter).

 

  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 4 - Matters Related to Accountants and Financial Statements

 

Item 4.01 Changes in Registrant’s Certifying Accountant.

 

(a)     By letter dated January 2, 2024, Swalm & Associates P. C. (“Swalm”) notified the Audit Committee Chairman and the Chief Financial Officer of Income Opportunity Realty Investors, Inc. (the “Company” or the “Issuer” or “IOR”) that effective immediately Swalm was ceasing its services as independent registered public accountants for IOR, a decision due to the upcoming retirement of the principal of Swalm, Edward S. Swalm, CPA. The notice has the effect of a resignation and advises that Swalm will cooperate with IOR’s new independent registered public accountants. Swalm had served as the Company’s independent registered public accounting firm for each of the fiscal years ended December 31, 2004 through 2022 and was approved at the Company’s Annual Meeting on December 13, 2023 to continue in that role for the fiscal year ended December 31, 2023. Swalm’s report on the Company’s financial statements for the preceding two fiscal years (and all prior years) was not qualified in any respect as to any matter, nor did the opinions contain an adverse opinion or disclaimer of opinion.

 

The Company has provided a copy of this disclosure to Swalm and requested Swalm to furnish the Company with a letter addressed to the Commission stating whether Swalm agrees with the statements made by the Company in this disclosure and, if not, stating the respects in which Swalm does not agree. Such letter is attached as an Exhibit to 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  
  Designation Description
     
  99.5* Letter dated January 4, 2024 to the Securities and Exchange Commission from Swalm & Associates P.C.

 

 

_____________________________________________

*Furnished herewith

 

   
 

 

Dated:     January 5, 2024.

 

  INCOME OPPORTUNITY REALTY
  INVESTORS, INC.
     
  By:  /s/ Erik J. Johnson
  Erik J. Johnson, Executive Vice
  President and Chief Financial Officer

 

 

 

 

 

 

 

“EXHIBIT 99.5”

 

 

SWALM &ASSOCIATES, P.C.

 
     
  Certified Public Accountants, Auditors and Consultants

2435 N. Central Expy, Ste 1200

    Richardson, Texas 75080
    Office (972) 516-8800
    Fax (972) 516-0600

 

January 4, 2024

 

Office of the Chief

Accountant Securities and

Exchange Commission

460 Fifth Street N. W.

Washington, DC 20549

 

Re: Income Opportunity Realty Investors, Inc.

Commission File Number 001-14784

 

We have received a copy of, and are in agreement with, the statements being made by Income Opportunity Realty Investors, Inc. in Item 4.01 of its Form 8-K reporting events occurring on January 2, 2024, captioned “Changes in Registrant’s Certifying Accountant.”

 

We hereby consent to the filing of this letter as an exhibit to the foregoing report on Form 8-K.

 

Very truly yours,

 

SWALM & ASSOCIATES, P.C.

Edward S. Swalm

Edward S. Swalm, CPA

ESS/mb

 

 

 

 

 

MEMBERS OF THE AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS

 

 

 

 

 

 

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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
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