10-Q Filing

IRONSTONE PROPERTIES, INC. CIK: 723269 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001437749-15-010689`
Period End Date	20150331
Filing Date	20150520
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	irns-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 57 Income Statement 26 Cash Flow Statement 30

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 (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, issued shares (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, issued shares (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, issued shares (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, outstanding shares (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, outstanding shares (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`	$0.01	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.70	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
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	2.94M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	2.94M	shares	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	2.94M	shares	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	2.94M	shares	Point-in-time
Cash	`Cash`	$226.05K	USD	Point-in-time
Cash	`Cash`	$8.70K	USD	Point-in-time
Cash	`Cash`	$242.44K	USD	Point-in-time
Treasury Stock, shares (in shares)	`TreasuryStockShares`	745,536.00	shares	Point-in-time
Cash	`Cash`	$25.82K	USD	Point-in-time
Treasury Stock, shares (in shares)	`TreasuryStockShares`	745,536.00	shares	Point-in-time
Non-marketable securities	`InvestmentOwnedAtFairValue`	$2.67M	USD	Point-in-time
Non-marketable securities	`InvestmentOwnedAtFairValue`	$2.70M	USD	Point-in-time
Total assets	`Assets`	$3.01M	USD	Point-in-time
Total assets	`Assets`	$3.07M	USD	Point-in-time
Line of credit borrowings	`LineOfCredit`	$350.00K	USD	Point-in-time
Line of credit borrowings	`LineOfCredit`	$350.00K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$34.47K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$12.09K	USD	Point-in-time
Note payable, net of discount	`NotesPayable`	$1.21M	USD	Point-in-time
Note payable, net of discount	`NotesPayable`	$1.24M	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`	$1.78M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.83M	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 2,937,225 shares are issued and outstanding as of March 31, 2015 and December 31, 2014	`CommonStockValue`	$29.37K	USD	Point-in-time
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, 2015 and December 31, 2014	`CommonStockValue`	$29.37K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$21.82M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$21.83M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-21.84M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-21.92M	USD	Point-in-time
Accumulated other comprehensive Income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.82M	USD	Point-in-time
Accumulated other comprehensive Income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.75M	USD	Point-in-time
StockholdersEquityBeforeTreasuryStock	`StockholdersEquityBeforeTreasuryStock`	$1.76M	USD	Point-in-time
StockholdersEquityBeforeTreasuryStock	`StockholdersEquityBeforeTreasuryStock`	$1.76M	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
Less: Treasury Stock, 745,536 shares, at cost	`TreasuryStockValue`	$521.88K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.24M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.24M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$3.01M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$3.07M	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Professional fees	`ProfessionalFees`	$12.32K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$23.93K	USD	1 Quarter
State filing fee	`OtherGeneralExpense`	$3.00K	USD	1 Quarter
State filing fee	`OtherGeneralExpense`	$8.86K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$6.50K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$8.59K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$39.29K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$23.91K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-23.91K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-39.29K	USD	1 Quarter
Interest expense	`InterestIncomeExpenseNonoperatingNet`	$-34.00K	USD	1 Quarter
Interest expense	`InterestIncomeExpenseNonoperatingNet`	$-32.13K	USD	1 Quarter
Interest expense to related party	`InterestExpenseRelatedParty`	$3.48K	USD	1 Quarter
Interest expense to related party	`InterestExpenseRelatedParty`	$3.48K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-59.52K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-76.77K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-59.52K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-76.77K	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`	$72.81K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-611.78K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-3.96K	USD	1 Quarter
Net loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.04	USD	1 Quarter
Net loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	1 Quarter
Weighted average shares outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.18M	shares	1 Quarter
Weighted average shares outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.19M	shares	1 Quarter

Cash Flow Statement 30 line items

Line Item	Tag	Value	Unit	Period
Net Loss	`NetIncomeLoss`	$-59.52K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-76.77K	USD	1 Quarter
Accretion of discount on notes payable	`AccretionOfDiscount`	$2.78K	USD	Annual
Accretion of discount on notes payable	`AccretionOfDiscount`	$2.78K	USD	1 Quarter
Accretion of discount on notes payable	`AccretionOfDiscount`	$2.78K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$8.59K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$6.47K	USD	1 Quarter
Pay-in-kind interest added to principal	`PaidInKindInterest`	$24.53K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$22.38K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$5.62K	USD	1 Quarter
Interest payable - related party	`IncreaseDecreaseInInterestPayableNet`	$3.48K	USD	1 Quarter
Interest payable - related party	`IncreaseDecreaseInInterestPayableNet`	$3.48K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-39.06K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-17.12K	USD	1 Quarter
Proceeds from issuance of note payable	`ProceedsFromNotesPayable`	$22.66K	USD	1 Quarter
Proceeds from issuance of note payable	`ProceedsFromNotesPayable`	$1.00M	USD	Point-in-time
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$22.66K	USD	1 Quarter
Net decrease in cash	`CashPeriodIncreaseDecrease`	$-17.12K	USD	1 Quarter
Net decrease in cash	`CashPeriodIncreaseDecrease`	$-16.39K	USD	1 Quarter
Cash at beginning of period	`Cash`	$226.05K	USD	Point-in-time
Cash at beginning of period	`Cash`	$8.70K	USD	Point-in-time
Cash at beginning of period	`Cash`	$242.44K	USD	Point-in-time
Cash at beginning of period	`Cash`	$25.82K	USD	Point-in-time
Cash at end of period	`Cash`	$226.05K	USD	Point-in-time
Cash at end of period	`Cash`	$8.70K	USD	Point-in-time
Cash at end of period	`Cash`	$242.44K	USD	Point-in-time
Cash at end of period	`Cash`	$25.82K	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.