10-Q Filing

IRONSTONE PROPERTIES, INC. CIK: 723269 Q2 2012

Filing Information

Form Type	10-Q
Accession Number	`0001437749-12-008361`
Period End Date	20120630
Filing Date	20120814
Fiscal Year	2012
Fiscal Period	Q2
XBRL Instance	irns-20120630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 61 Income Statement 50 Cash Flow Statement 36

Balance Sheet 61 line items

Line Item	Tag	Value	Unit	Period
Note payable discount (in Dollars)	`DebtInstrumentUnamortizedDiscount`	$53.38K	USD	Point-in-time
Note payable discount (in Dollars)	`DebtInstrumentUnamortizedDiscount`	-	USD	Point-in-time
Preferred stock, par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash	`Cash`	$5.15K	USD	Point-in-time
Preferred stock, shares authorized (in Shares)	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash	`Cash`	$4.22K	USD	Point-in-time
Preferred stock, shares authorized (in Shares)	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Marketable securities available for sale, at fair value	`AvailableForSaleSecuritiesCurrent`	$7.80K	USD	Point-in-time
Preferred stock, shares issued (in Shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued (in Shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Marketable securities available for sale, at fair value	`AvailableForSaleSecuritiesCurrent`	$1.00M	USD	Point-in-time
Salon Media Group, Inc. common stock, at fair value	`AvailableForSaleSecurities`	$4.00K	USD	Point-in-time
Salon Media Group, Inc. common stock, at fair value	`AvailableForSaleSecurities`	$8.00K	USD	Point-in-time
Preferred stock, shares outstanding (in Shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding (in Shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.70	USD	Point-in-time
Salon Media Group, Inc. Series C Preferred, at fair value	`InvestmentOwnedAtFairValue`	$84.30K	USD	Point-in-time
Salon Media Group, Inc. Series C Preferred, at fair value	`InvestmentOwnedAtFairValue`	$42.15K	USD	Point-in-time
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized (in Shares)	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Common stock, shares authorized (in Shares)	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Total assets	`Assets`	$59.10K	USD	Point-in-time
Total assets	`Assets`	$1.10M	USD	Point-in-time
Common stock, shares issued (in Shares)	`CommonStockSharesIssued`	742,108.00	shares	Point-in-time
Common stock, shares issued (in Shares)	`CommonStockSharesIssued`	1.49M	shares	Point-in-time
Common stock, shares outstanding (in Shares)	`CommonStockSharesOutstanding`	1.87M	shares	Point-in-time
Common stock, shares outstanding (in Shares)	`CommonStockSharesOutstanding`	742,108.00	shares	Point-in-time
Less: Treasury Stock, Number of Shares (in Shares)	`TreasuryStockShares`	745,536.00	shares	Point-in-time
Less: Treasury Stock, Number of Shares (in Shares)	`TreasuryStockShares`	745,536.00	shares	Point-in-time
Line of credit borrowings	`LinesOfCreditCurrent`	$350.00K	USD	Point-in-time
Line of credit borrowings	`LinesOfCreditCurrent`	$350.00K	USD	Point-in-time
Note payable to related party	`NotesPayableRelatedPartiesCurrentAndNoncurrent`	$279.50K	USD	Point-in-time
Note payable to related party	`NotesPayableRelatedPartiesCurrentAndNoncurrent`	$14.00K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$83.43K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$61.80K	USD	Point-in-time
Total liabilities	`LiabilitiesCurrent`	$425.80K	USD	Point-in-time
Total liabilities	`LiabilitiesCurrent`	$712.93K	USD	Point-in-time
Note payable net of discount of $53,379	`LongTermNotesPayable`	$946.62K	USD	Point-in-time
Total liabilities	`Liabilities`	$712.93K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.37M	USD	Point-in-time
Preferred stock, $0.01 par value, 5,000,000 shares authorized of which there are no issued and outstanding shares	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.01 par value, 5,000,000 shares authorized of which there are no issued and outstanding shares	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.01 par value, 25,000,000 shares authorized, 2,618,500 shares are issued and 1,872,964 are outstanding on June 30, 2012; 1,487,644 shares are issued and 742,108 shares are outstanding on December 31, 2011	`CommonStockValue`	$26.19K	USD	Point-in-time
Common stock, $0.01 par value, 25,000,000 shares authorized, 2,618,500 shares are issued and 1,872,964 are outstanding on June 30, 2012; 1,487,644 shares are issued and 742,108 shares are outstanding on December 31, 2011	`CommonStockValue`	$14.88K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$21.17M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$21.55M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-21.33M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-21.27M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-5.85K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-47.32K	USD	Point-in-time
StockholdersEquityBeforeTreasuryStock	`StockholdersEquityBeforeTreasuryStock`	$249.79K	USD	Point-in-time
StockholdersEquityBeforeTreasuryStock	`StockholdersEquityBeforeTreasuryStock`	$-131.26K	USD	Point-in-time
Less: Treasury Stock, 745,536 shares, at cost	`TreasuryStockValue`	$521.88K	USD	Point-in-time
Less: Treasury Stock, 745,536 shares, at cost	`TreasuryStockValue`	$522.57K	USD	Point-in-time
Less: Treasury Stock, 745,536 shares, at cost	`TreasuryStockValue`	$522.57K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$-272.78K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$-653.83K	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$59.10K	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.10M	USD	Point-in-time

Income Statement 50 line items

Line Item	Tag	Value	Unit	Period
Professional fees	`ProfessionalFees`	$15.31K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$17.35K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$15.94K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$17.25K	USD	2 Qtrs
State filing fee	`OtherGeneralExpense`	$1.72K	USD	2 Qtrs
State filing fee	`OtherGeneralExpense`	$1.72K	USD	1 Quarter
State filing fee	`OtherGeneralExpense`	$2.40K	USD	2 Qtrs
State filing fee	`OtherGeneralExpense`	$2.40K	USD	1 Quarter
Amortization	`AmortizationOfDebtDiscountPremium`	$2.81K	USD	1 Quarter
Amortization	`AmortizationOfDebtDiscountPremium`	$2.81K	USD	2 Qtrs
Miscellaneous expenses	`OtherCostAndExpenseOperating`	$60.00	USD	2 Qtrs
Miscellaneous expenses	`OtherCostAndExpenseOperating`	$324.00	USD	2 Qtrs
Miscellaneous expenses	`OtherCostAndExpenseOperating`	$60.00	USD	1 Quarter
Miscellaneous expenses	`OtherCostAndExpenseOperating`	$60.00	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$17.09K	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$19.13K	USD	2 Qtrs
Total operating expenses	`CostsAndExpenses`	$22.78K	USD	2 Qtrs
Total operating expenses	`CostsAndExpenses`	$21.21K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-21.21K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-17.09K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-19.13K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-22.78K	USD	2 Qtrs
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-20.90K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-33.08K	USD	2 Qtrs
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-11.34K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-22.48K	USD	2 Qtrs
Net (loss)	`NetIncomeLoss`	$-55.86K	USD	2 Qtrs
Net (loss)	`NetIncomeLoss`	$-41.62K	USD	2 Qtrs
Net (loss)	`NetIncomeLoss`	$-42.11K	USD	1 Quarter
Net (loss)	`NetIncomeLoss`	$-28.43K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-55.86K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-41.62K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-42.11K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-28.43K	USD	1 Quarter
Unrealized holding gain (loss) arising during the period	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-3.90K	USD	1 Quarter
Unrealized holding gain (loss) arising during the period	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$41.47K	USD	2 Qtrs
Unrealized holding gain (loss) arising during the period	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-3.12K	USD	2 Qtrs
Unrealized holding gain (loss) arising during the period	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-2.34K	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-30.77K	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-44.73K	USD	2 Qtrs
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-14.39K	USD	2 Qtrs
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-46.01K	USD	1 Quarter
Net loss per share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Net loss per share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.06	USD	2 Qtrs
Net loss per share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.04	USD	1 Quarter
Net loss per share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.04	USD	2 Qtrs
Weighted average shares (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	1.31M	shares	2 Qtrs
Weighted average shares (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	742,108.00	shares	2 Qtrs
Weighted average shares (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	742,108.00	shares	1 Quarter
Weighted average shares (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	1.87M	shares	1 Quarter

Cash Flow Statement 36 line items

Line Item	Tag	Value	Unit	Period
Issuance Of Common Stock For Note Payable (in Dollars)	`StockIssuedDuringPeriodValueIssuedForServices`	$-284.50K	USD	2 Qtrs
Issuance Of Common Stock For Note Payable (in Dollars)	`StockIssuedDuringPeriodValueIssuedForServices`	$-284.50K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-55.86K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-41.62K	USD	2 Qtrs
Accrued Interest To Related Party (in Dollars)	`InterestPayableCurrentAndNoncurrent`	$-54.76K	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-42.11K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-28.43K	USD	1 Quarter
Accrued Interest To Related Party (in Dollars)	`InterestPayableCurrentAndNoncurrent`	$-54.76K	USD	Point-in-time
Discount amortization	`AmortizationOfDebtDiscountPremium`	$2.81K	USD	1 Quarter
Discount amortization	`AmortizationOfDebtDiscountPremium`	$2.81K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayable`	$8.96K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayable`	$33.12K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-32.66K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-19.94K	USD	2 Qtrs
Purchased Non Marketable TangoMe, Inc	`PaymentsToAcquireInvestments`	$1.00M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.00M	USD	2 Qtrs
Note payable to related party	`ProceedsFromRelatedPartyDebt`	$35.00K	USD	2 Qtrs
Note payable to related party	`ProceedsFromRelatedPartyDebt`	$19.00K	USD	2 Qtrs
Note payable	`ProceedsFromNotesPayable`	$1.00M	USD	1 Quarter
Note payable	`ProceedsFromNotesPayable`	$1.00M	USD	2 Qtrs
Net cash provided from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.02M	USD	2 Qtrs
Net cash provided from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$35.00K	USD	2 Qtrs
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.34K	USD	2 Qtrs
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-936.00	USD	2 Qtrs
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.91K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.15K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.22K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.57K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.91K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.15K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.22K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.57K	USD	Point-in-time
Cash paid during the period for interest	`InterestPaid`	$13.60K	USD	2 Qtrs
Cash paid during the period for interest	`InterestPaid`	$13.53K	USD	2 Qtrs
Issuance of common stock for note payable( $284,500) and and accrued interest ($54,757) to related party.	`DebtConversionOriginalDebtAmount1`	-	USD	2 Qtrs
Issuance of common stock for note payable( $284,500) and and accrued interest ($54,757) to related party.	`DebtConversionOriginalDebtAmount1`	-	USD	2 Qtrs

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.