10-Q Filing

IRONSTONE PROPERTIES, INC. CIK: 723269 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001437749-21-015094`
Period End Date	20210331
Filing Date	20210617
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	irns-20210331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 26 Cash Flow Statement 32

Balance Sheet 56 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
Cash	`CashOverdrafts`	$-39.00	USD	Point-in-time
Cash	`CashOverdrafts`	$117.08K	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	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
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Marketable securities	`MarketableSecurities`	$545.36K	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Marketable securities	`MarketableSecurities`	$545.36K	USD	Point-in-time
Non-marketable securities	`RestrictedInvestments`	$2.75M	USD	Point-in-time
Non-marketable securities	`RestrictedInvestments`	$2.57M	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`	$0.01	USD	Point-in-time
Total assets	`Assets`	$3.42M	USD	Point-in-time
Total assets	`Assets`	$3.12M	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
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$159.90K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$151.12K	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	2.94M	shares	Point-in-time
Line of credit borrowings	`LineOfCredit`	$350.00K	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	2.94M	shares	Point-in-time
Line of credit borrowings	`LineOfCredit`	$350.00K	USD	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	745,536.00	shares	Point-in-time
Note payable	`NotesPayable`	$2.16M	USD	Point-in-time
Note payable	`NotesPayable`	$2.11M	USD	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	745,536.00	shares	Point-in-time
Note payable - related party	`NotesPayableRelatedPartiesCurrentAndNoncurrent`	$624.31K	USD	Point-in-time
Note payable - related party	`NotesPayableRelatedPartiesCurrentAndNoncurrent`	$317.62K	USD	Point-in-time
Interest payable - related party	`AccountsPayableRelatedPartiesCurrentAndNoncurrent`	$139.29K	USD	Point-in-time
Interest payable - related party	`AccountsPayableRelatedPartiesCurrentAndNoncurrent`	$147.13K	USD	Point-in-time
Total liabilities	`Liabilities`	$3.44M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.07M	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, 2021 and December 31, 2020	`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, 2021 and December 31, 2020	`CommonStockValue`	$29.37K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$21.84M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$21.84M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-23.06M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-23.06M	USD	Point-in-time
Accumulated other comprehensive Income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.76M	USD	Point-in-time
Accumulated other comprehensive Income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.68M	USD	Point-in-time
Stockholders' Equity before Treasury Stock	`StockholdersEquityBeforeTreasuryStock`	$495.26K	USD	Point-in-time
Stockholders' Equity before Treasury Stock	`StockholdersEquityBeforeTreasuryStock`	$574.66K	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' deficit	`StockholdersEquity`	$52.09K	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-27.31K	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$3.42M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$3.12M	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Professional fees	`ProfessionalFees`	$2.61K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$234.00	USD	1 Quarter
State and local taxes	`CurrentStateAndLocalTaxExpenseBenefit`	$5.65K	USD	1 Quarter
State and local taxes	`CurrentStateAndLocalTaxExpenseBenefit`	$7.35K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpenseIncome`	-	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpenseIncome`	$-39.00	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$5.88K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$9.92K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-5.88K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-9.92K	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$61.64K	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$57.26K	USD	1 Quarter
Interest expense to related party	`InterestExpenseRelatedParty`	$6.02K	USD	1 Quarter
Interest expense to related party	`InterestExpenseRelatedParty`	$7.84K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-69.16K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-79.40K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-69.16K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-79.40K	USD	1 Quarter
Unrealized holding gain (loss) arising during the period	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	-	USD	1 Quarter
Unrealized holding gain (loss) arising during the period	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$-7.52K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-79.40K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-76.67K	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
Shares outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.19M	shares	1 Quarter
Shares outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.19M	shares	1 Quarter

Cash Flow Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-69.16K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-79.40K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilitiesExcludingInterestPayable`	$5.86K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilitiesExcludingInterestPayable`	$5.88K	USD	1 Quarter
Interest payable	`IncreaseDecreaseInInterestPayableNet`	$50.57K	USD	1 Quarter
Interest payable	`IncreaseDecreaseInInterestPayableNet`	$54.95K	USD	1 Quarter
Interest payable - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$7.84K	USD	1 Quarter
Interest payable - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$6.02K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-10.75K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-14.21K	USD	1 Quarter
Proceeds from issuance of notes payable	`ProceedsFromNotesPayable`	$6.69K	USD	1 Quarter
Proceeds from issuance of notes payable	`ProceedsFromNotesPayable`	$306.69K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$6.69K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$306.69K	USD	1 Quarter
Investment in marketable securities mark-to-market	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$7.52K	USD	1 Quarter
Investment in marketable securities mark-to-market	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	-	USD	1 Quarter
Investment in non-marketable securities	`PaymentsToAcquireRestrictedInvestments`	-	USD	1 Quarter
Investment in non-marketable securities	`PaymentsToAcquireRestrictedInvestments`	$178.82K	USD	1 Quarter
Net cash provided (used) by financing activities	`NetCashProvidedByUsedInInvestingActivities`	$7.52K	USD	1 Quarter
Net cash provided (used) by financing activities	`NetCashProvidedByUsedInInvestingActivities`	$-178.82K	USD	1 Quarter
Net increase in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$117.11K	USD	1 Quarter
Net increase in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	-	USD	1 Quarter
Cash at beginning of period	`CashOverdraftsCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$-39.00	USD	Point-in-time
Cash at beginning of period	`CashOverdraftsCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$-39.00	USD	Point-in-time
Cash at beginning of period	`CashOverdraftsCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$-39.00	USD	Point-in-time
Cash at beginning of period	`CashOverdraftsCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$117.08K	USD	Point-in-time
Cash at end of period	`CashOverdraftsCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$-39.00	USD	Point-in-time
Cash at end of period	`CashOverdraftsCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$-39.00	USD	Point-in-time
Cash at end of period	`CashOverdraftsCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$-39.00	USD	Point-in-time
Cash at end of period	`CashOverdraftsCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$117.08K	USD	Point-in-time
Cash paid during the period for interest	`InterestPaidNet`	-	USD	1 Quarter
Cash paid during the period for interest	`InterestPaidNet`	-	USD	1 Quarter

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