10-Q Filing

IRONSTONE PROPERTIES, INC. CIK: 723269 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001437749-14-008989`
Period End Date	20140331
Filing Date	20140514
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	irns-20140331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 57 Income Statement 28 Cash Flow Statement 29

Balance Sheet 57 line items

Line Item	Tag	Value	Unit	Period
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
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash	`Cash`	$242.44K	USD	Point-in-time
Cash	`Cash`	$3.38K	USD	Point-in-time
Cash	`Cash`	$226.05K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash	`Cash`	$2.58K	USD	Point-in-time
Preferred stock, issued shares (in Dollars)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, issued shares (in Dollars)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, outstanding shares (in Dollars)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, outstanding shares (in Dollars)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock, par value, (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Non-marketable securities	`InvestmentOwnedAtFairValue`	$2.00M	USD	Point-in-time
Non-marketable securities	`InvestmentOwnedAtFairValue`	$2.00M	USD	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
Total assets	`Assets`	$2.63M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Total assets	`Assets`	$3.20M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Common stock, shares are issued	`CommonStockSharesIssued`	2.75M	shares	Point-in-time
Common stock, shares are issued	`CommonStockSharesIssued`	2.62M	shares	Point-in-time
Line of credit borrowings	`LineOfCreditFacilityAmountOutstanding`	$350.00K	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	2.75M	shares	Point-in-time
Line of credit borrowings	`LineOfCreditFacilityAmountOutstanding`	$350.00K	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	2.62M	shares	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$17.89K	USD	Point-in-time
Less: Treasury Stock, Number of Shares	`TreasuryStockShares`	745,536.00	shares	Point-in-time
Less: Treasury Stock, Number of Shares	`TreasuryStockShares`	745,536.00	shares	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$23.51K	USD	Point-in-time
Advances for future stock issuance	`AdvancesForFutureStockIssuance`	$230.00K	USD	Point-in-time
Note payable, net of discount	`NotesPayable`	$1.10M	USD	Point-in-time
Note payable, net of discount	`NotesPayable`	$1.13M	USD	Point-in-time
Note payable - related party	`NotesPayableRelatedPartiesCurrentAndNoncurrent`	$182.00K	USD	Point-in-time
Note payable - related party	`NotesPayableRelatedPartiesCurrentAndNoncurrent`	$182.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.89M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.70M	USD	Point-in-time
Preferred stock, $0.01 par value, 5,000,000 shares authorized, no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.01 par value, 5,000,000 shares authorized, no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.01 par value, 25,000,000 shares authorized, of which 2,618,500 shares are issued and outstanding as of December 31, 2013; 2,749,929 shares are issued and outstanding as of March 31, 2014	`CommonStockValue`	$27.50K	USD	Point-in-time
Common stock, $0.01 par value, 25,000,000 shares authorized, of which 2,618,500 shares are issued and outstanding as of December 31, 2013; 2,749,929 shares are issued and outstanding as of March 31, 2014	`CommonStockValue`	$26.18K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$21.56M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$21.80M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-21.64M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-21.58M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.27M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.82M	USD	Point-in-time
StockholdersEquityBeforeTreasuryStock	`StockholdersEquityBeforeTreasuryStock`	$1.46M	USD	Point-in-time
StockholdersEquityBeforeTreasuryStock	`StockholdersEquityBeforeTreasuryStock`	$1.83M	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`	$521.88K	USD	Point-in-time
Less: Treasury Stock, 745,536 shares, at cost	`TreasuryStockValue`	$522.57K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$935.84K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.31M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$3.20M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$2.63M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Professional fees	`ProfessionalFees`	$2.77K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$12.32K	USD	1 Quarter
State filing fee	`OtherGeneralExpense`	$3.00K	USD	1 Quarter
State filing fee	`OtherGeneralExpense`	$4.60K	USD	1 Quarter
Amortization	`AmortizationOfDebtDiscountPremium`	$2.78K	USD	1 Quarter
Amortization	`AmortizationOfDebtDiscountPremium`	$1.39K	USD	1 Quarter
Stock-based compensation	`AllocatedShareBasedCompensationExpense`	$8.59K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$90.00	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$26.69K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$8.85K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-26.69K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-8.85K	USD	1 Quarter
Interest expense	`InterestIncomeExpenseNonoperatingNet`	$-27.45K	USD	1 Quarter
Interest expense	`InterestIncomeExpenseNonoperatingNet`	$-29.35K	USD	1 Quarter
Interest expense to related party	`InterestExpenseRelatedParty`	$3.48K	USD	1 Quarter
Interest expense to related party	`InterestExpenseRelatedParty`	$1.26K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-59.52K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-37.56K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-59.52K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-37.56K	USD	1 Quarter
Unrealized holding gain (loss) arising during the period	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-552.25K	USD	1 Quarter
Unrealized holding gain (loss) arising during the period	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$6.89K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-30.67K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-611.78K	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`	$-0.03	USD	1 Quarter
Weighted average shares used in per share computation (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.87M	shares	1 Quarter
Weighted average shares used in per share computation (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.18M	shares	1 Quarter

Cash Flow Statement 29 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-59.52K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-37.56K	USD	1 Quarter
Accretion of discount on notes payable	`AccretionOfDiscount`	$1.39K	USD	1 Quarter
Accretion of discount on notes payable	`AccretionOfDiscount`	$2.78K	USD	1 Quarter
Stock-based compensation amortization	`ShareBasedCompensation`	$8.59K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$24.12K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$5.62K	USD	1 Quarter
Interest payable - related party	`IncreaseDecreaseInInterestPayableNet`	$1.26K	USD	1 Quarter
Interest payable - related party	`IncreaseDecreaseInInterestPayableNet`	$3.48K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-10.79K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-39.06K	USD	1 Quarter
Proceeds from issuance of note payable	`ProceedsFromNotesPayable`	$1.00M	USD	Point-in-time
Proceeds from issuance of note payable	`ProceedsFromNotesPayable`	$22.66K	USD	1 Quarter
Note payable to related party	`ProceedsFromRelatedPartyDebt`	$10.00K	USD	1 Quarter
Net cash provided from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$10.00K	USD	1 Quarter
Net cash provided from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$22.66K	USD	1 Quarter
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-16.39K	USD	1 Quarter
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-793.00	USD	1 Quarter
Cash at beginning of period	`Cash`	$242.44K	USD	Point-in-time
Cash at beginning of period	`Cash`	$3.38K	USD	Point-in-time
Cash at beginning of period	`Cash`	$226.05K	USD	Point-in-time
Cash at beginning of period	`Cash`	$2.58K	USD	Point-in-time
Cash at end of period	`Cash`	$242.44K	USD	Point-in-time
Cash at end of period	`Cash`	$3.38K	USD	Point-in-time
Cash at end of period	`Cash`	$226.05K	USD	Point-in-time
Cash at end of period	`Cash`	$2.58K	USD	Point-in-time
Cash paid during the period for interest	`InterestPaid`	$6.69K	USD	1 Quarter
Cash paid during the period for interest	`InterestPaid`	$6.69K	USD	1 Quarter
Advances for future common stock share purchase	`AdvancesForFutureCommonStockSharePurchase`	$230.00K	USD	1 Quarter

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