Income Opportunity Realty Investors (IOR) 8-K Consolidated Statements of Operations

 

INCOME OPPORTUNITY REALTY INVESTORS, INC. 

CONSOLIDATED STATEMENTS OF OPERATIONS 

(Unaudited)

	For the Years Ended March 31,
	2018			2017
	(dollars in thousands, except per share amounts)
Revenues:
Rental and other property revenues	$	—		$	—
Expenses:
Property operating expenses (including $0 and $0 for the three months ended 2018 and 2017, respectively, from related parties)		—			—
General and administrative (including $42 and $54 for the three months ended 2018 and 2017, respectively, from related parties)		123			130
Net income fee to related party		53			60
Advisory fee to related party		164			162
Total operating expenses		340			352
Net operating loss		(340	)		(352	)
Other income (expenses):
Interest income from related parties		1,042			1,089
Total other income		1,042			1,089
Income before taxes		702			737
Net income	$	702		$	737
Earnings per share - basic and diluted
Net income	$	0.17		$	0.18
Weighted average common shares used in computing earnings per share		4,168,214			4,168,214

INCOME OPPORTUNITY REALTY INVESTORS, INC. 

CONSOLIDATED BALANCE SHEETS

	March 31,			December 31,
	2018			2017
	(Unaudited)  (dollars in thousands, except par value amount)
Assets
Real estate land holdings subject to sales contract, at cost	$	22,717		$	22,717
Total real estate		22,717			22,717
Notes and interest receivable from related parties		13,568			14,030
Total notes and interest receivable		13,568			14,030
Cash and cash equivalents		2			2
Receivable and accrued interest from related parties		50,790			49,631
Other assets		1,517			1,517
Total assets	$	88,594		$	87,897
Liabilities and Shareholders’ Equity
Liabilities:
Accounts payable and other liabilities	$	5		$	10
Total liabilities		5			10
Shareholders’ equity:
Common stock, $0.01 par value, authorized 10,000,000 shares; issued 4,173,675 and outstanding 4,168,214 shares in 2018 and 2017		42			42
Treasury stock at cost, 5,461 shares in 2018 and 2017		(39	)		(39	)
Paid-in capital		61,955			61,955
Retained earnings		26,631			25,929
Total shareholders’ equity		88,589			87,887
Total liabilities and shareholders’ equity	$	88,594		$	87,897