Attached files
| file | filename |
|---|---|
| 8-K - INCOME OPPORTUNITY REALTY INVESTORS INC /TX/ | iot8k051718.htm |
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 | ||||