Ironstone Properties (IRNS) 10-Q 22 Nov 22 2022 FY Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2022	Nov. 18, 2022
Document Information [Line Items]
Entity Central Index Key	0000723269
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	0-12346
Entity Registrant Name	IRONSTONE PROPERTIES, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	95-2829956
Entity Address, Address Line One	909 Montgomery Street
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94133
City Area Code	415
Local Phone Number	551-8600
Title of 12(g) Security	Common Stock, $0.01 par value
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Emerging Growth Company	false
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		2,716,955

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
ASSETS:
Cash	$ 2,562	$ 30,717
Investments:
Marketable securities	85,560	604,318
Non-marketable securities	4,663,898	4,960,344
Total assets	4,752,020	5,595,379
LIABILITIES AND STOCKHOLDERS' EQUITY:
Accounts payable and accrued expenses	37,393	34,201
Line of credit borrowings	348,843	348,843
Interest payable line of credit	1,259	1,259
Note payable	2,509,411	2,329,510
Note payable - related party	0	624,313
Interest payable - related party	0	181,906
Deferred income tax payable	318,306	318,306
Total liabilities	3,215,213	3,838,338
Stockholders' equity
Preferred stock, $0.01 par value, 5,000,000 shares authorized, no shares issued and outstanding	0	0
Common stock, $0.01 par value, 25,000,000 shares authorized, of which 2,937,225 shares are issued and outstanding as of March 31, 2022 and December 31, 2021	34,625	29,372
Additional paid-in capital	22,858,100	21,839,083
Additional paid-in capital - stock options	397,105	212,506
Accumulated deficit	(21,564,277)	(22,498,875)
Accumulated other comprehensive Income	333,829	2,697,529
Stockholders' Equity before Treasury Stock	2,059,382	2,279,615
Less: Treasury Stock, 745,536 shares, at cost	(522,574)	(522,574)
Total stockholders' equity	1,536,808	1,757,041
Total liabilities and stockholders' equity	$ 4,752,020	$ 5,595,379

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited)-parentheticals (Parentheticals) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
Preferred Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized (in shares)	5,000,000	5,000,000
Preferred Stock, Shares Issued (in shares)	0	0
Preferred Stock, Shares Outstanding, Ending Balance (in shares)	0	0
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.01	$ 0.01
Common Stock, Shares Authorized (in shares)	25,000,000	25,000,000
Common Stock, Shares, Outstanding, Ending Balance (in shares)	3,462,491	2,937,225
Common Stock, Shares, Issued (in shares)	3,462,491	2,937,225
Treasury Stock, Shares, Total (in shares)	745,536	745,536

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Profit (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Operating expenses:
Compensation - stock options	$ 62,209	$ 62,209	$ 184,599	$ 104,809
Professional fees	13,603	12,094	26,258	23,431
State and local taxes	9,135	2,358	8,544	12,957
General and administrative expenses	3,502	(4,277)	10,229	(4,316)
Total operating expenses	88,449	72,384	229,629	136,881
Loss from operations	(88,449)	(72,384)	(229,629)	(136,881)
Other expense:
Interest expense	(69,913)	(56,829)	(200,269)	(182,697)
Interest expense to related party	0	(11,649)	(18,050)	(30,924)
Net operating loss	(158,362)	(140,862)	(447,949)	(350,502)
COMPREHENSIVE LOSS, NET OF TAX:
Net operating loss	(158,362)	(140,862)	(447,949)	(350,502)
Unrealized holding gain (loss) arising during the period	(624,887)	1,751,816	(981,153)	2,064,656
Comprehensive profit	$ (783,249)	$ 1,610,954	$ (1,429,101)	$ 1,714,154
Basic gain (loss) per share
Net operating loss per share (in dollars per share)	$ (0.06)	$ (0.06)	$ (0.18)	$ (0.16)
Net comprehensive profit (loss) per share (in dollars per share)	$ (0.29)	$ 0.74	$ (0.59)	$ 0.78
Weighted average shares outstanding (in shares)	2,716,955	2,191,689	2,436,044	2,191,689

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Comprehensive income (loss)	$ (1,429,101)	$ 1,714,154
Changes in operating assets and liabilities:
Accounts payable and accrued expenses	3,194	(82,022)
Interest payable	179,900	264,900
Interest payable - related party	(181,906)	30,924
Net cash used in operating activities	(1,427,914)	1,927,956
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of notes payable	0	6,688
Paid in capital stock options	184,599	104,809
Conversion of related party debt to new issue common stock	(624,313)	0
Payment of related party dept		0
Prior Period Adjustment to Retained Earnings	0	91,080
Issuance of new issue common stock	1,024,270	162,380
Net cash provided by financing activities	584,555	364,958
CASH FLOWS FROM INVESTING ACTIVITIES:
Marketable securities mark to market	518,758	142,200
Non-marketable securities mark to market	296,446	2,385,679
Non-marketable securities mark to market	(296,446)	(2,385,679)
Net cash provided (used) by financing activities	815,204	(2,243,479)
Net increase (decrease) in cash	(28,155)	49,434
Cash at beginning of period	30,717	(39)
Cash at end of period	2,562	49,395
Supplemental disclosure of cash flow information:
Cash paid during the period for interest	20,369	13,629
Cash paid during the period for state franchise taxes	8,544	24,311
Share-Based Payment Arrangement, Option [Member] | Equity Incentive Plan [Member]
Supplemental noncash investing and financing activities:
Officer and director common stock options issued	$ 184,599	$ 104,809

Note 1 - Business and Summary o

Note 1 - Business and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]	1. BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Business Activities Ironstone Group, Inc. and subsidiaries purchases business interests where the Company has a relationship and influence; examples include being a current or prior board of director member, providing seed level capital, and serving in an advisory capacity. Currently Ironstone Group, Inc. is seeking appropriate business combination opportunities. Ironstone Group, Inc, (“Ironstone” or the “Company”) a Delaware corporation, was incorporated in 1972. Principles of Consolidation The accompanying unaudited condensed consolidated financial statements include the accounts of Ironstone Group, Inc. and its subsidiaries, AcadiEnergy, Inc., Belt Perry Associates, Inc., DeMoss Corporation, and TaxNet, Inc. (collectively the “Company”). All significant intercompany accounts and transactions have been eliminated in consolidation. Basis of Presentation The unaudited condensed consolidated financial statements included herein have been prepared by the Company in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures, normally included in financial statements prepared in accordance with U.S. GAAP, have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, these unaudited condensed consolidated financial statements contain all adjustments (consisting only of normal recurring adjustments) necessary to present fairly the financial position of the Company as of September 30, 2022 and December 31, 2021, the results of its operations for the three month periods ended September 30, 2022 and September 30, 2021 and nine months ending September 30, 2022 and September 30, 2021 and its cash flows for the nine month periods ended September 30, 2022 and September 30, 2021. The results of operations for the periods presented are not necessarily indicative of those that may be expected for the full year. The condensed consolidated financial statements presented herein have been prepared by management, without audit by independent auditors who do not express an opinion thereon and does not include all disclosures required for annual periods. The last audited annual report on Form 10-K was for the fiscal year ended December 31, 2014. There have been no significant changes in the Company’s significant accounting policies from those were disclosed in its Annual Report on Form 10-K for the fiscal year ended December 31, 2021. Going Concern These financial statements contemplate the realization of assets and the satisfaction of liabilities in the normal course of business. Ironstone Group has incurred losses and negative cash flows from operations over the last ten years. The Company has operated in the past principally with the assistance of loans from private institutions and related party individuals. The on-going accrual of unpaid interest on external and related party debt, excluding the LOC, continues to increase the financial risk to the Company as a going concern. Conversion of a material portion of the outstanding debt to equity will help alleviate such financial pressure. The financial statements do not include any adjustments relating to the recoverability and classification of asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. Marketable and Non-Marketable Securities Marketable and non-marketable securities have been classified by management as available for sale in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 320, marketable securities are recorded at fair value and any unrealized gains and losses are excluded from earnings and reported as a separate component of stockholders’ equity until realized. The fair value of the Company’s marketable securities and investments at September 30, 2022 and December 31, 2021 are based on quoted market prices. For the purpose of computing realized gains and losses, cost is identified on a specific identification basis. For marketable securities for which there is an other-than-temporary impairment, an impairment loss is recognized as a realized loss, and related adjustments are not made for recovery in value. The Company has not realized any such impairment losses to date. Securities determined to be non-marketable by the Company do not have readily determinable fair values. The Company estimates the fair value of these instruments using various pricing models and the information available to the Company that it deems most relevant. Among the factors considered by the Company in determining the fair value of financial instruments are discounted anticipated cash flows, the cost, terms and liquidity of the instrument, the financial condition, operating results and credit ratings of the issuer or underlying company, the quoted market price of publicly traded securities with similar duration and yield, the Black-Scholes Options Valuation methodology adjusted for active market, the share price of recent round of financings by an outsider, and other considerations on a case-by-case basis and other factors generally pertinent to the valuation of financial instruments. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates made in the financial statements relate to the valuation of the Company’s non-marketable investments. Actual results could differ from those estimates. Income Taxes The Company and its wholly owned subsidiaries file a consolidated federal income tax return. Income taxes are provided for the tax effects of transactions reported in the financial statements and consist of taxes currently due plus deferred income taxes. Deferred income taxes are recognized for differences between the financial statement and tax bases of assets and liabilities that will result in taxable or deductible amounts in the future. Deferred income taxes are also recognized for net operating loss carryforwards that are available to offset future taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. As of September 30, 2022 and December 31, 2021, a full valuation allowance has been recorded to offset loss carryforwards as, in management’s opinion, there is uncertainty as to whether or not the Company will be able to generate taxable income in the future. The Company follows the authoritative guidance on accounting for and disclosure of uncertainty in tax positions, which requires the Company to determine whether a tax position is more likely than not to be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. For tax positions meeting the more likely than not threshold, the tax amount recognized in the financial statements is reduced by the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the relevant taxing authority. The Company has determined that there is no effect on the financial statements from this authoritative guidance. The Company files tax returns as prescribed by the tax laws of the jurisdictions in which it operates. In the normal course of business, the Company is subject to examination by federal, state, local, and foreign jurisdictions, where applicable. As of September 30, 2022, the tax years that remain subject to examination by the major tax jurisdictions under the statute of limitations is from the year 2017 2016 Stock-Based Compensation Ironstone recognizes the fair value of stock options granted on a straight-line basis over the requisite service period of the option grant, which is the standard vesting term of three Basic and Diluted Loss per Share Basic loss per share (“EPS”) excludes dilution and is computed by dividing net income (loss) applicable to common shareholders by the weighted average number of common shares actually outstanding during the period. Diluted EPS reflects the dilution from potentially dilutive securities, except where inclusion of such potentially dilutive securities would have an anti-dilutive effect, using the average stock price during the period in the computation and because of the net loss for the periods presented. Recent Accounting Pronouncements In August 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-15, “ Disclosure of Uncertainties about an Entity s Ability to Continue as a Going Concern In August 2018, the FASB issued Accounting Standards Update (“ASU”) 2018-13, “Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement”. ASU 2018-13 removes certain disclosures, modifies others and introduces additional disclosure requirements for entities. The amendments in ASU 2018-13 for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. The Company adopted the new standard on January 1, 2020. The adoption did not have a material impact on the Company’s financial statements.

Note 2 - Fair Value Measurement

Note 2 - Fair Value Measurements	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Fair Value Disclosures [Text Block]	2. FAIR VALUE MEASUREMENTS Fair value is defined under FASB ASC 820, “ Fair Value Measurement and Disclosures Level 1 valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these products does not entail a significant degree of judgment. Level 2 Level 3 In all cases, the level in the fair value hierarchy within which the fair value measurement in its entirety falls has been determined based on the lowest level of input that is significant to the fair value measurement. The Company’s assets and liabilities that are measured at fair value on a non-recurring basis include cash, accounts payable, accrued expenses, and interest payable given their short-term nature. Furthermore, the fair value of the Company’s notes payable are initially measured at fair value given that they are estimated based on current rates that would be available for debt of similar terms. The following tables provide information about the Company’s financial instruments measured at fair value on a recurring basis as of September 30, 2022 and December 31, 2021 by the fair value hierarchy: Balance as of September 30, Level 1 Level 2 Level 3 2022 Investments: Publicly traded common stock $ 85,560 $ - $ - $ 85,560 Publicly traded options - - - - Private company common stock - - 4,463,898 4,463,898 Private company preferred stock - - 200,000 200,000 Total $ 85,560 $ - $ 4,663,898 $ 4,749,458 Balance as of December 31, Level 1 Level 2 Level 3 2021 Investments: Publicly traded common stock $ 575,720 $ - $ - $ 575,720 Publicly traded options 28,598 - - 28,598 Private company common stock - - 4,960,344 4,960,344 Private company preferred stock - - - - Total $ 604,318 $ - $ 4,960,344 $ 5,564,662 The following tables presents the Company’s investments measured at fair value using significant unobservable inputs (Level 3), including the valuation technique and unobservable inputs used to measure the fair value of those financial instruments: Fair Value as of September 30, 2022 Valuation Technique Unobservable Inputs Private Company Preferred Stock $ 200,000 Purchase price June 10 and 16, 2022 Acquisition cost Private Company Common Stock $ 160,942 MESE system valuation Big data technology Private Company Common Stock $ 4,302,956 valuation average range $1.0bn to $1.5bn Big data technology "MESE" system. Fair Value as of December 31, 2021 Valuation Technique Unobservable Inputs Private Company Common Stock $ 178,824 Purchase price March 10, 2021 Acquisition cost Private Company Common Stock $ 4,781,520 valuation average range $1.0bn to $1.5bn Big data technology "MESE" system, and SPAC inquiries The following table presents additional information about Level 3 assets measured at fair value on a recurring basis for six months ended September 30, 2022 and 2021. Both observable and unobservable inputs may be used to determine the fair value of positions that the Company has classified within the Level 3 category. As a result, unrealized gains or (losses) during the period for assets and liabilities within the Level 3 category presented in the tables below may include changes in fair value during the period that were attributable to both observable and unobservable inputs. Nine Months Ended September 30, 2022 Balance as of December 31, 2021 $ 4,960,344 Unrealized loss on investments (496,034 ) Purchase of investment 200,000 Dividend - return of capital (412 ) Balance as of September 30, 2022 $ 4,663,898 Nine Months Ended September 30, 2021 Balance as of December 31, 2020 $ 4,781,520 Unrealized gain on investments - Purchase of investment 178,824 Balance as of September 30, 2021 $ 4,960,344

Note 3 - Investments

Note 3 - Investments	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Investment [Text Block]	3. INVESTMENTS TangoMe, Inc. On March 30, 2012, the Company purchased 468,121 shares of Series A Preferred stock from related party William R. Hambrecht at $2.14 per share, resulting in a total investment of $1,000,000. For the year ended December 31, 2021 there was no valuation gain or loss for TangoMe, Inc., remaining at a valuation of $4,781,520. During the third quarter 2022, there was a 10% reduction in value (-$478,564), resulting in a valuation of $4,302,956. The investment fair value is based on using an average company valuation for TangoMe Inc. as determined by the “MESE” big data analysis system. This is the primary significant unobservable input used in the fair value measurement of the Company’s investment. Arcimoto, Inc. During fiscal year 2014 the Company purchased 37,000 shares of Arcimoto, Inc. series A-1 preferred stock for $100,011. The A-1 preferred stock was converted to common stock during 2017 prior to Arcimoto filing for its initial public offering. During 2017, prior to the initial public offering, there was a two The Arcimoto closing price on September 30, 2022 was $1.38 per share, resulting in a stock holdings valuation of $85,560 and in-the-money options valuation of $0. On December 31, 2021 the closing price was $7.78 per share, representing a common stock valuation of $575,720 resulting in a mark-to-market net of executed stock sales loss of $456,522 for the nine months ended September 30, 2022. At December 31, 2021 the in-the-money options valuation was $28,598, resulting in a valuation loss of $28,598 for the nine months ended September 30, 2022. Buoy Health, Inc. On March 17, 2021 the Company purchased 11,233 common shares of the private company Buoy Health, Inc. at $15.92 per share. The total value of the investment was $160,942 at September 30, 2022. During the third quarter, the holding was marked down by 10% (-$17,882) from its previous valuation of $178,824. Aristotle On June 10, 2022 the Company purchased 5,037 preferred shares of the private company Aristotle Inc. from CEO and Board of directors member William Hambrecht at $19.85 per share totaling $100,000. On June 16, 2022 the Company purchased 5,037 preferred shares of the private company Aristotle Inc. from its Chairman of the Board, William Mayer for at $19.85 per share totaling $19.85 per share. Aristotle’s predominant business is operating an internet based political election betting platform. The total investment of 10,074 shares was valued at $200,000 as of September 30, 2022.

Note 4 - Related Party Transact

Note 4 - Related Party Transactions	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	4. RELATED PARTY TRANSACTIONS On December 31, 2014 the Company combined all the various notes payable, which were issued at various times to Mr. William Hambrecht, to one note for $182,000 at 7.75% interest. A loan was made to Ironstone Group by William Hambrecht resulting from William Hambrecht paying the interest on the Bank Letter of Credit from the time period January 2016 through March 2021. The loan from William Hambrecht interest rate is 7.75%. On March 10, 2021 William Hambrecht loaned Ironstone Group, Inc. $300,000 at 6.0% interest rate with a March 11, 2026 maturity. On May 27, 2022 William Hambrecht converted to common stock the entirety of the debt outstanding to him, including the aforementioned loans and related accrued interest owed by the Ironstone Properties, Inc. totaling $824,269 for 404,054 common shares of Ironstone Properties, Inc. at $2.04 per share. On June 6, 2022 Harold Bradley, Board of Director member Ironstone Properties Inc. purchased 121,212 common shares from Ironstone Properties Inc. at $1.65 per share, totaling $200,000. On June 10, 2022 Ironstone Properties, Inc. purchased 5,037 preferred shares of private company Aristotle Inc. from William Hambrecht, CEO at $19.85 per share totaling $100,000. On June 16, 2022 Ironstone Properties, Inc. purchased 5,037 preferred shares of private company Aristotle Inc. from William Mayer, Chairman of the Board of Directors at $19.85 per share totaling $100,000.

Note 5 - Note Payable

Note 5 - Note Payable	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Long-Term Debt [Text Block]	5. NOTE PAYABLE On March 31, 2012, the Company received $1,000,000 from a third party and issued a related promissory note. The note carries an 8% interest rate, per annum, and has a maturity date of March 31, 2017. Interest accrues on the balance and converts to separate notes payable on a quarterly basis. The total amounts due under this agreement, including the notes related to accrued interest, are due in full at the end of the term. The note is secured by all of the assets of the Company through an accompanying security agreement. If the Company defaults on the note or security agreement, interest would accrue at 10% per annum. The company was unable to meet its payment obligation by the prescribed deadline, therefore the interest rate stepped up to 10% and interest has been accrued using at the stepped up rate starting April 1, 2017. The gross amounts payable under the agreement as of September 30, 2022 and December 31, 2021 were $2,509,411 and $2,329,510 respectively. Ironstone Properties and the lending entity have recently verbally agreed to revised terms and maturity and are currently finalizing the terms and conditions. The scheduled maturities of notes and LOC payable outstanding as of September 30, 2021 are as follows: pending open Total Notes payable $ 2,509,410 $ 2,509,410 Letter of Credit - 348,843 348,843 Total $ 2,509,410 $ 348,843 $ 2,858,253

Note 6 - Line of Credit Arrange

Note 6 - Line of Credit Arrangement	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Line of Credit Facility [Text Block]	6. LINE OF CREDIT ARRANGEMENT The Company has a line of credit arrangement with First Republic Bank (the “lender”) with a borrowing limit of $350,000 with interest based upon the lender’s prime rate plus 4.5% and is payable monthly. At September 30, 2022 and December 31, 2021, interest was being paid at a rate of 7.75%. The line is guaranteed by both William R. Hambrecht, Director and Chief Executive Officer, and Robert H. Hambrecht. The line of credit is due on demand and is secured by all of the Company’s business assets. As of September 30, 2022 and December 31, 2021, the outstanding balance under the line was $348,843. The total recorded interest expense on this note for the quarter ended September 30, 2022 and quarter ended December 31, 2021 was $6,963 and $6,843 respectively.

Note 7 - State Franchise Taxes

Note 7 - State Franchise Taxes Payable	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Franchise Tax Disclosure [Text Block]	7. STATE FRANCHISE TAXES PAYABLE During the three months ended September 30, 2022 the Company recorded $9,135 in state franchise tax expense, and for the three months ended September 30, 2021 the Company recorded $2,358 in state franchise tax.

Note 8 - Stockholders' Equity

Note 8 - Stockholders' Equity	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	8. STOCKHOLDERS EQUITY Common Stock On January 2, 2014, the Company entered into a Stock Purchase Agreement (the “Purchase Agreement”) with new investors and existing investors (each, a “Share Purchaser” and, collectively, the “Share Purchasers”), pursuant to which, the Company issued and sold to such Share Purchasers 131,429 shares of the Company’s Common Stock, representing approximately 7% of Ironstone’s outstanding equity securities on the date of purchase, for an aggregate purchase price of $230,000. On May 1, 2014, a third party exercised warrants for 187,296 shares of the Company’s Common Stock. As of September 30, 2014, the Company issued 187,296 shares from the warrant exercise to the third party. On May 27, 2022, William Hambrecht, CEO converted a total of $824,269 of debt and accrued interest for 404,054 shares of Ironstone Properties, Inc. common stock at a price of $2.04 per share. On June 6, 2022 Board of Director member Harold Bradley purchased 121,212 new issue common shares from the Company for a total of $200,000 at a price of $1.65 per share. Treasury Stock On September 15, 2003, the Board of Directors authorized the Company to purchase 745,536 shares of Company common stock at $0.70 per share for an aggregate purchase price of $521,875. The repurchase represented 50.11% of the issued and outstanding shares of the Company. During the year ended December 31, 2008, the Company paid $699 for fractional Treasury shares. As of September 30, 2022 and December 31, 2021, the treasury shares are held by the Company. Preferred Stock The Company is authorized to issue up to five Stock Option Plans On April 29, 2021 the Company is revised its existing Equity Incentive Plan. As of April 29, 2021, 175,000 options were granted under the Plan, with an exercise price of $1.99 per share, which is based on the weighted average price for the trailing six month average price and an illiquidity discount of 15%. The options vest straight line over three seven Stock-Based Compensation For the quarter ended September 30, 2022 the Company recorded stock options based compensation relating to the Equity Incentive Plan of $62,209. Operating Earnings (Loss) Per Share Basic net income (loss) per share is computed by dividing the net income (loss) by the weighted number of shares of common stock outstanding during the period. Diluted net income (loss) per share is computed by dividing the net income (loss) for the period by the weighted average number of common and dilutive potential common shares outstanding during the period, if dilutive. Potentially dilutive common equivalent shares are composed of the incremental common shares issuable upon the exercise of stock options. The following is the computations of the basic and diluted net income per share and from operations and the dilutive common stock equivalents for the periods presented: Quarters Ended Nine months ended September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Numerator: Net Operating Loss $ (158,362 ) $ (140,862 ) $ (447,949 ) $ (350,502 ) Denominator: Weighted average shares outstanding - basic 2,716,955 2,191,689 2,436,044 2,191,689 Effect of dilutive potential shares 345,000 345,000 345,000 345,000 Shares outstanding - diluted 3,061,955 2,536,689 2,781,044 2,536,689 Net loss per share - basic $ (0.06 ) $ (0.06 ) $ (0.18 ) $ (0.16 ) Net loss per share - diluted $ (0.05 ) $ (0.06 ) $ (0.16 ) $ (0.14 ) Comprehensive Earnings (Loss) Per Share Comprehensive earnings include Operating earnings (loss) above, and securities and options investments held mark-to-market gains (loss). Quarters Ended Nine months ended September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Numerator: Net Comprehensive Earnings $ (783,249 ) $ 1,610,954 $ (1,429,101 ) $ 1,714,154 Denominator: Weighted average shares outstanding - basic 2,716,955 2,191,689 2,436,044 2,191,689 Effect of dilutive potential shares 345,000 345,000 345,000 345,000 Shares outstanding - diluted 3,061,955 2,536,689 2,781,044 2,536,689 Net gain (loss) per share - basic $ (0.29 ) $ 0.74 $ (0.59 ) $ 0.78 Net gain (loss) per share - diluted $ (0.26 ) $ 0.64 $ (0.51 ) $ 0.68

Note 9 - Management's Plans

Note 9 - Management's Plans	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Substantial Doubt about Going Concern [Text Block]	9. MANAGEMENT S PLANS As reflected in the accompanying financial statements, the Company has net losses and has a negative cash flow from operations. The attainment of profitable operations is dependent upon future events, including liquidity events in privately held investments in excess of purchase price, and or the profitable sale of publicly traded investments. If necessary, to provide liquidity, the Company may seek to sell additional equity securities, or convert existing privately held debt to equity, providing the debt holders are agreeable to the terms and share conversion price. The Company cannot make assurances that it will be able to complete any financing, liquidity, or debt conversion transaction, that such financing, liquidity, or debt conversion transaction will be adequate for the Company’s needs, or that a financing, liquidity or debt conversion transaction will be completed in a timely manner. Furthermore, the Company may seek to sell its marketable securities to meet its operating needs. However, the fair value of these marketable securities fluctuates and may not be adequate for the Company’s needs. The Company has extended its line of credit payment terms with the lender with similar terms to the recently expired line of credit.

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Principles of Consolidation
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation
Going Concern [Policy Text Block]	Going Concern
Investment, Policy [Policy Text Block]	Marketable and Non-Marketable Securities
Use of Estimates, Policy [Policy Text Block]	Use of Estimates
Income Tax, Policy [Policy Text Block]	Income Taxes 2017 2016
Share-Based Payment Arrangement [Policy Text Block]	Stock-Based Compensation three
Earnings Per Share, Policy [Policy Text Block]	Basic and Diluted Loss per Share
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements Disclosure of Uncertainties about an Entity s Ability to Continue as a Going Concern

Note 2 - Fair Value Measureme_2

Note 2 - Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2022
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	Balance as of September 30, Level 1 Level 2 Level 3 2022 Investments: Publicly traded common stock $ 85,560 $ - $ - $ 85,560 Publicly traded options - - - - Private company common stock - - 4,463,898 4,463,898 Private company preferred stock - - 200,000 200,000 Total $ 85,560 $ - $ 4,663,898 $ 4,749,458 Balance as of December 31, Level 1 Level 2 Level 3 2021 Investments: Publicly traded common stock $ 575,720 $ - $ - $ 575,720 Publicly traded options 28,598 - - 28,598 Private company common stock - - 4,960,344 4,960,344 Private company preferred stock - - - - Total $ 604,318 $ - $ 4,960,344 $ 5,564,662
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]	Fair Value as of September 30, 2022 Valuation Technique Unobservable Inputs Private Company Preferred Stock $ 200,000 Purchase price June 10 and 16, 2022 Acquisition cost Private Company Common Stock $ 160,942 MESE system valuation Big data technology Private Company Common Stock $ 4,302,956 valuation average range $1.0bn to $1.5bn Big data technology "MESE" system. Fair Value as of December 31, 2021 Valuation Technique Unobservable Inputs Private Company Common Stock $ 178,824 Purchase price March 10, 2021 Acquisition cost Private Company Common Stock $ 4,781,520 valuation average range $1.0bn to $1.5bn Big data technology "MESE" system, and SPAC inquiries
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	Nine Months Ended September 30, 2022 Balance as of December 31, 2021 $ 4,960,344 Unrealized loss on investments (496,034 ) Purchase of investment 200,000 Dividend - return of capital (412 ) Balance as of September 30, 2022 $ 4,663,898 Nine Months Ended September 30, 2021 Balance as of December 31, 2020 $ 4,781,520 Unrealized gain on investments - Purchase of investment 178,824 Balance as of September 30, 2021 $ 4,960,344

Note 5 - Note Payable (Tables)

Note 5 - Note Payable (Tables)	9 Months Ended
	Sep. 30, 2022
Notes Tables
Schedule of Maturities of Long-Term Debt [Table Text Block]	pending open Total Notes payable $ 2,509,410 $ 2,509,410 Letter of Credit - 348,843 348,843 Total $ 2,509,410 $ 348,843 $ 2,858,253

Note 8 - Stockholders' Equity (

Note 8 - Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2022
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Quarters Ended Nine months ended September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Numerator: Net Operating Loss $ (158,362 ) $ (140,862 ) $ (447,949 ) $ (350,502 ) Denominator: Weighted average shares outstanding - basic 2,716,955 2,191,689 2,436,044 2,191,689 Effect of dilutive potential shares 345,000 345,000 345,000 345,000 Shares outstanding - diluted 3,061,955 2,536,689 2,781,044 2,536,689 Net loss per share - basic $ (0.06 ) $ (0.06 ) $ (0.18 ) $ (0.16 ) Net loss per share - diluted $ (0.05 ) $ (0.06 ) $ (0.16 ) $ (0.14 )
Schedule of Comprehensive Earnings Per Share, Basic and Diluted [Table Text Block]	Quarters Ended Nine months ended September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Numerator: Net Comprehensive Earnings $ (783,249 ) $ 1,610,954 $ (1,429,101 ) $ 1,714,154 Denominator: Weighted average shares outstanding - basic 2,716,955 2,191,689 2,436,044 2,191,689 Effect of dilutive potential shares 345,000 345,000 345,000 345,000 Shares outstanding - diluted 3,061,955 2,536,689 2,781,044 2,536,689 Net gain (loss) per share - basic $ (0.29 ) $ 0.74 $ (0.59 ) $ 0.78 Net gain (loss) per share - diluted $ (0.26 ) $ 0.64 $ (0.51 ) $ 0.68

Note 1 - Business and Summary_2

Note 1 - Business and Summary of Significant Accounting Policies (Details Textual)	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement, Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period	3 years
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member]
Open Tax Year	2018 2019 2020 2021
State and Local Jurisdiction [Member] | California Franchise Tax Board [Member]
Open Tax Year	2017 2018 2019 2020 2021

Note 2 - Fair Value Measureme_3

Note 2 - Fair Value Measurements - Financial Instruments Measured at Fair Value on a Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($)	Sep. 30, 2022	Mar. 31, 2022	Dec. 31, 2021
Investments, fair value	$ 4,749,458		$ 5,564,662
Fair Value, Inputs, Level 1 [Member]
Investments, fair value	85,560		604,318
Fair Value, Inputs, Level 3 [Member]
Investments, fair value	4,663,898		4,960,344
Publicly Traded Common Stock [Member]
Investments, fair value	85,560		575,720
Publicly Traded Common Stock [Member] | Fair Value, Inputs, Level 1 [Member]
Investments, fair value	85,560		575,720
Publicly Traded Options [Member]
Investments, fair value		$ 0	28,598
Publicly Traded Options [Member] | Fair Value, Inputs, Level 1 [Member]
Investments, fair value			28,598
Private Company Common Stock [Member]
Investments, fair value	4,463,898		4,960,344
Private Company Common Stock [Member] | Fair Value, Inputs, Level 3 [Member]
Investments, fair value	4,463,898		$ 4,960,344
Private Company Preferred Stock [Member]
Investments, fair value	200,000
Private Company Preferred Stock [Member] | Fair Value, Inputs, Level 3 [Member]
Investments, fair value	$ 200,000

Note 2 - Fair Value Measureme_4

Note 2 - Fair Value Measurements - Investments Measured at Fair Value Using Significant Unobservable Inputs (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Private Company Preferred Stock [Member] | Valuation, Cost Approach [Member] | Purchase Price [Member]
Investments, fair value	$ 200,000
Private Company Common Stock [Member] | Valuation, Cost Approach [Member] | Purchase Price [Member]
Investments, fair value	160,942	$ 178,824
Private Company Common Stock [Member] | Valuation, Market Approach [Member] | Measurement Input, Quoted Price [Member]
Investments, fair value	$ 4,302,956	$ 4,781,520

Note 2 - Fair Value Measureme_5

Note 2 - Fair Value Measurements - Additional Information about Level 3 Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Balance as of December 31, 2021	$ 4,960,344	$ 4,781,520
Unrealized gain on investments	(496,034)	0
Purchase of investment	200,000	178,824
Balance as of March 31, 2022	$ 4,663,898	$ 4,960,344

Note 3 - Investments (Details T

Note 3 - Investments (Details Textual)						9 Months Ended	12 Months Ended
	Jun. 16, 2022 $ / shares shares	Jun. 10, 2022 USD ($) $ / shares shares	Mar. 17, 2021 USD ($) $ / shares shares	Oct. 02, 2015 $ / shares shares	Mar. 30, 2012 USD ($) $ / shares shares	Sep. 30, 2022 USD ($) $ / shares shares	Dec. 31, 2018 $ / shares shares	Dec. 31, 2017 shares	Dec. 31, 2014 USD ($) shares	Dec. 31, 2021 USD ($) $ / shares
Arcimoto, Inc. [Member]
Share Price | $ / shares						$ 1.38				$ 7.78
Arcimoto, Inc. [Member] | Reverse Stock Split [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio								2
TangoMe, Inc, Series A Preferred Stock [Member]
Investment Owned, at Fair Value						$ 4,302,956				$ 4,781,520
TangoMe, Inc, Series A Preferred Stock [Member] | Chief Executive Officer [Member]
Investment Purchased, Shares | shares					468,121
Investment Purchased, Price Per Share | $ / shares					$ 2.14
Investment Purchased, Value					$ 1,000,000
Arcimoto, Inc. Series A-1 Preferred Stock [Member]
Investment Purchased, Shares | shares									37,000
Payments to Acquire Investments, Total									$ 100,011
Options in Arcimoto, Inc [Member]
Investment Owned, at Fair Value						0				28,598
Investment Owned, Balance, Shares | shares				2,500			5,000	74,000
Option Indexed to Issuer's Equity, Strike Price | $ / shares				$ 4.121			$ 2.0605
Unrealized Gain (Loss) on Investments						28,598
Common Stock in Arcimoto, Inc [Member]
Investment Owned, at Fair Value						$ 85,560				$ 575,720
Investment Owned, Balance, Shares | shares						62,000
Unrealized Gain (Loss) on Investments						$ 456,522
Common Shares of Buoy Health, Inc [Member]
Investment Purchased, Shares | shares			11,233
Investment Purchased, Price Per Share | $ / shares			$ 15.92
Investment Owned, at Fair Value			$ 178,824			160,942
Investment Owned, Increase (Decrease) in Fair Value						17,882
Preferred Stock in Aristotle [Member]
Investment Purchased, Shares | shares	5,037	5,037
Investment Purchased, Price Per Share | $ / shares	$ 19.85	$ 19.85
Investment Owned, at Fair Value		$ 100,000				$ 200,000
Investment Owned, Balance, Shares | shares						10,074
Preferred Stock in Aristotle [Member] | Chief Executive Officer [Member]
Investment Purchased, Shares | shares		5,037
Investment Purchased, Price Per Share | $ / shares		$ 19.85
Payments to Acquire Investments, Total		$ 100,000

Note 4 - Related Party Transa_2

Note 4 - Related Party Transactions (Details Textual) - USD ($)	Jun. 16, 2022	Jun. 10, 2022	Jun. 06, 2022	May 27, 2022	Mar. 31, 2022	Mar. 10, 2021	Dec. 31, 2014
Preferred Stock in Aristotle [Member]
Investment Purchased, Shares	5,037	5,037
Investment Purchased, Price Per Share	$ 19.85	$ 19.85
Conversion of Debt into Common Stock [Member]
Debt Conversion, Original Debt, Amount				$ 824,269
Debt Conversion, Converted Instrument, Shares Issued (in shares)				404,054
Debt Instrument, Convertible, Conversion Price (in dollars per share)				$ 2.04
Chief Executive Officer [Member] | Preferred Stock in Aristotle [Member]
Investment Purchased, Shares		5,037
Investment Purchased, Price Per Share		$ 19.85
Payments to Acquire Investments, Total		$ 100,000
Chief Executive Officer [Member] | Conversion of Debt into Common Stock [Member]
Debt Conversion, Original Debt, Amount				$ 824,269
Debt Conversion, Converted Instrument, Shares Issued (in shares)				404,054
Debt Instrument, Convertible, Conversion Price (in dollars per share)				$ 2.04
Director [Member]
Stock Issued During Period, Shares, New Issues (in shares)			121,212
Shares Issued, Price Per Share (in dollars per share)			$ 1.65
Stock Issued During Period, Value, New Issues			$ 200,000
Director [Member] | Preferred Stock in Aristotle [Member]
Investment Purchased, Shares	5,037
Investment Purchased, Price Per Share	$ 19.85
Payments to Acquire Investments, Total	$ 100,000
Notes Payable, Related Party [Member] | Chief Executive Officer [Member]
Debt Instrument, Face Amount							$ 182,000
Debt Instrument, Interest Rate, Stated Percentage							7.75%
Loan Payable for Interest on Letter of Credit [Member] | Chief Executive Officer [Member]
Debt Instrument, Interest Rate, Stated Percentage					7.75%
Loans Payable [Member] | Chief Executive Officer [Member]
Debt Instrument, Face Amount						$ 300,000
Debt Instrument, Interest Rate, Stated Percentage						6%

Note 5 - Note Payable (Details

Note 5 - Note Payable (Details Textual) - USD ($)		9 Months Ended
	Mar. 31, 2012	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Apr. 01, 2017
Proceeds from Notes Payable, Total		$ 0	$ 6,688
Notes Payable, Other Payables [Member]
Proceeds from Notes Payable, Total	$ 1,000,000
Debt Instrument, Interest Rate, Stated Percentage	8%				10%
Debt Instrument, Interest Rate, Default Percentage	10%
Long-Term Debt, Gross		$ 2,509,411		$ 2,329,510

Note 5 - Note Payable - Schedul

Note 5 - Note Payable - Scheduled Maturities (Details)	Sep. 30, 2022 USD ($)
Pending	$ 2,509,410
Total	2,858,253
Open	348,843
Letter of Credit [Member]
Pending	0
Total	348,843
Open	348,843
Notes Payable, Other Payables [Member]
Pending	2,509,410
Total	$ 2,509,410

Note 6 - Line of Credit Arran_2

Note 6 - Line of Credit Arrangement (Details Textual) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended	21 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Sep. 30, 2022
Long-Term Line of Credit, Total	$ 348,843		$ 348,843		$ 348,843	$ 348,843
Interest Expense, Debt, Total	69,913	$ 56,829	200,269	$ 182,697
First Republic Bank [Member] | Line of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 350,000		$ 350,000			$ 350,000
Debt Instrument, Interest Rate, Effective Percentage	7.75%		7.75%			7.75%
Debt Instrument, Interest Rate, Stated Percentage					7.75%
Long-Term Line of Credit, Total	$ 348,843		$ 348,843		$ 348,843	$ 348,843
Interest Expense, Debt, Total			$ 6,963		$ 6,843
First Republic Bank [Member] | Line of Credit [Member] | Prime Rate [Member]
Debt Instrument, Basis Spread on Variable Rate						4.50%

Note 7 - State Franchise Taxe_2

Note 7 - State Franchise Taxes Payable (Details Textual) - USD ($)	Sep. 30, 2022	Sep. 30, 2021
Franchise Taxes in Arrears, Total	$ 9,135	$ 2,358

Note 8 - Stockholders' Equity_2

Note 8 - Stockholders' Equity (Details Textual) - USD ($)

3 Months Ended

9 Months Ended

12 Months Ended

Jun. 06, 2022

May 27, 2022

Apr. 29, 2021

Sep. 30, 2014

May 01, 2014

Jan. 02, 2014

Sep. 15, 2003

Sep. 30, 2022

Sep. 30, 2021

Sep. 30, 2022

Sep. 30, 2021

Dec. 31, 2008

Dec. 31, 2021

Stock Issued During Period, Shares, Warrant Exercises

187,296

187,296

Treasury Stock, Shares, Acquired

745,536

Treasury Stock Acquired, Average Cost Per Share

$ 0.70

Treasury Stock, Value, Acquired, Cost Method

$ 521,875

$ 699

Treasury Stock, Acquired, Percentage of Outstanding Shares

50.11%

Preferred Stock, Shares Authorized

5,000,000

5,000,000

5,000,000

Share-Based Payment Arrangement, Expense

$ 62,209

$ 62,209

$ 184,599

$ 104,809

Share-Based Payment Arrangement, Option [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period

3 years

Share-Based Payment Arrangement, Expense

$ 62,209

Equity Incentive Plan [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross

175,000

Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share)

$ 1.99

Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period

3 years

Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year)

7 years

Director [Member]

Stock Issued During Period, Shares, New Issues (in shares)

121,212

Stock Issued During Period, Value, New Issues

$ 200,000

Shares Issued, Price Per Share (in dollars per share)

$ 1.65

Conversion of Debt into Common Stock [Member]

Debt Conversion, Original Debt, Amount

$ 824,269

Debt Conversion, Converted Instrument, Shares Issued (in shares)

404,054

Debt Instrument, Convertible, Conversion Price (in dollars per share)

$ 2.04

Purchase Agreement [Member]

Stock Issued During Period, Shares, New Issues (in shares)

131,429

Stock Issued During Period, Percentage Outstanding

7%

Stock Issued During Period, Value, New Issues

$ 230,000

Note 8 - Stockholders' Equity -

Note 8 - Stockholders' Equity - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Net Operating Loss	$ (158,362)	$ (140,862)	$ (447,949)	$ (350,502)
Weighted average shares outstanding (in shares)	2,716,955	2,191,689	2,436,044	2,191,689
Effect of dilutive potential shares (in shares)	345,000	345,000	345,000	345,000
Shares outstanding - diluted (in shares)	3,061,955	2,536,689	2,781,044	2,536,689
Net loss per share - basic (in dollars per share)	$ (0.06)	$ (0.06)	$ (0.18)	$ (0.16)
Net loss per share - diluted (in dollars per share)	$ (0.05)	$ (0.06)	$ (0.16)	$ (0.14)

Note 8 - Stockholders' Equity_3

Note 8 - Stockholders' Equity - Computation of Comprehensive Earnings (Loss) Per Share (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Net Comprehensive income (loss)	$ (783,249)	$ 1,610,954	$ (1,429,101)	$ 1,714,154
Weighted average shares outstanding (in shares)	2,716,955	2,191,689	2,436,044	2,191,689
Effect of dilutive potential shares (in shares)	345,000	345,000	345,000	345,000
Shares outstanding - diluted (in shares)	3,061,955	2,536,689	2,781,044	2,536,689
Net gain (loss) per share - basic (in dollars per share)	$ (0.29)	$ 0.74	$ (0.59)	$ 0.78
Net gain (loss) per share - diluted (in dollars per share)	$ (0.26)	$ 0.64	$ (0.51)	$ 0.68