10-Q Filing

IRONSTONE PROPERTIES, INC. CIK: 723269 Q2 2021

Filing Information

Form Type	10-Q
Accession Number	`0001437749-21-020595`
Period End Date	20210630
Filing Date	20210820
Fiscal Year	2021
Fiscal Period	Q2
XBRL Instance	irns20210630_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 60 Cash Flow Statement 38

Balance Sheet 58 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`	$97.50K	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
Marketable securities	`MarketableSecurities`	$1.03M	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
Marketable securities	`MarketableSecurities`	$1.35M	USD	Point-in-time
Non-marketable securities	`RestrictedInvestments`	$2.75M	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
Non-marketable securities	`RestrictedInvestments`	$2.57M	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`	$4.20M	USD	Point-in-time
Total assets	`Assets`	$3.61M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$151.12K	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	2.94M	shares	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$162.04K	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	2.94M	shares	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
Line of credit borrowings	`LineOfCredit`	$350.00K	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	2.94M	shares	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	745,536.00	shares	Point-in-time
Note payable	`NotesPayable`	$2.22M	USD	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	745,536.00	shares	Point-in-time
Note payable	`NotesPayable`	$2.11M	USD	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	`InterestPayableRelatedParty`	$158.57K	USD	Point-in-time
Interest payable - related party	`InterestPayableRelatedParty`	$139.29K	USD	Point-in-time
Total liabilities	`Liabilities`	$3.07M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.51M	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
Additional paid-in capital - stock options	`AdditionalPaidInCapitalStockOptions`	$42.60K	USD	Point-in-time
Additional paid-in capital - stock options	`AdditionalPaidInCapitalStockOptions`	-	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-22.57M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-23.20M	USD	Point-in-time
Accumulated other comprehensive Income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$2.40M	USD	Point-in-time
Accumulated other comprehensive Income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.87M	USD	Point-in-time
Stockholders' Equity before Treasury Stock	`StockholdersEquityBeforeTreasuryStock`	$1.21M	USD	Point-in-time
Stockholders' Equity before Treasury Stock	`StockholdersEquityBeforeTreasuryStock`	$1.06M	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`	$541.60K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$687.40K	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$4.20M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$3.61M	USD	Point-in-time

Income Statement 60 line items

Line Item	Tag	Value	Unit	Period
Compensation - stock options	`AllocatedShareBasedCompensationExpense`	$42.60K	USD	1 Quarter
Compensation - stock options	`AllocatedShareBasedCompensationExpense`	-	USD	2 Qtrs
Compensation - stock options	`AllocatedShareBasedCompensationExpense`	$42.60K	USD	2 Qtrs
Compensation - stock options	`AllocatedShareBasedCompensationExpense`	-	USD	1 Quarter
Professional fees	`ProfessionalFees`	$11.34K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$234.00	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$8.73K	USD	1 Quarter
Professional fees	`ProfessionalFees`	-	USD	1 Quarter
State and local taxes	`CurrentStateAndLocalTaxExpenseBenefit`	$10.60K	USD	2 Qtrs
State and local taxes	`CurrentStateAndLocalTaxExpenseBenefit`	$8.90K	USD	2 Qtrs
State and local taxes	`CurrentStateAndLocalTaxExpenseBenefit`	$3.25K	USD	1 Quarter
State and local taxes	`CurrentStateAndLocalTaxExpenseBenefit`	$3.25K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpenseIncome`	-	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpenseIncome`	-	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpenseIncome`	$-39.00	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpenseIncome`	-	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.25K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$64.50K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$9.13K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$54.58K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-54.58K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-3.25K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-9.13K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-64.50K	USD	2 Qtrs
Interest expense	`InterestExpenseDebt`	$125.87K	USD	2 Qtrs
Interest expense	`InterestExpenseDebt`	$58.52K	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$64.23K	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$115.77K	USD	2 Qtrs
Interest expense to related party	`InterestExpenseRelatedParty`	$19.27K	USD	2 Qtrs
Interest expense to related party	`InterestExpenseRelatedParty`	$6.26K	USD	1 Quarter
Interest expense to related party	`InterestExpenseRelatedParty`	$11.43K	USD	1 Quarter
Interest expense to related party	`InterestExpenseRelatedParty`	$12.28K	USD	2 Qtrs
Net operating loss	`NetIncomeLoss`	$-68.03K	USD	1 Quarter
Net operating loss	`NetIncomeLoss`	$-137.19K	USD	2 Qtrs
Net operating loss	`NetIncomeLoss`	$-209.64K	USD	2 Qtrs
Net operating loss	`NetIncomeLoss`	$-130.24K	USD	1 Quarter
Net operating loss	`NetIncomeLoss`	$-68.03K	USD	1 Quarter
Net operating loss	`NetIncomeLoss`	$-137.19K	USD	2 Qtrs
Net operating loss	`NetIncomeLoss`	$-209.64K	USD	2 Qtrs
Net operating loss	`NetIncomeLoss`	$-130.24K	USD	1 Quarter
Unrealized holding gain (loss) arising during the period	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$312.84K	USD	2 Qtrs
Unrealized holding gain (loss) arising during the period	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$290.84K	USD	2 Qtrs
Unrealized holding gain (loss) arising during the period	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$312.84K	USD	1 Quarter
Unrealized holding gain (loss) arising during the period	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$324.88K	USD	1 Quarter
Comprehensive profit	`ComprehensiveIncomeNetOfTax`	$256.85K	USD	1 Quarter
Comprehensive profit	`ComprehensiveIncomeNetOfTax`	$182.60K	USD	1 Quarter
Comprehensive profit	`ComprehensiveIncomeNetOfTax`	$153.65K	USD	2 Qtrs
Comprehensive profit	`ComprehensiveIncomeNetOfTax`	$103.20K	USD	2 Qtrs
Net operating loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.06	USD	1 Quarter
Net operating loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.10	USD	2 Qtrs
Net operating loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.06	USD	2 Qtrs
Net operating loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.03	USD	1 Quarter
Net comprehensive profit per share (in dollars per share)	`EarningsPerComprehensiveShareBasicandDiluted`	$0.08	USD	1 Quarter
Net comprehensive profit per share (in dollars per share)	`EarningsPerComprehensiveShareBasicandDiluted`	$0.12	USD	1 Quarter
Net comprehensive profit per share (in dollars per share)	`EarningsPerComprehensiveShareBasicandDiluted`	$0.05	USD	2 Qtrs
Net comprehensive profit per share (in dollars per share)	`EarningsPerComprehensiveShareBasicandDiluted`	$0.07	USD	2 Qtrs
Shares outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.19M	shares	1 Quarter
Shares outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.19M	shares	2 Qtrs
Shares outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.19M	shares	2 Qtrs
Shares outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.19M	shares	1 Quarter

Cash Flow Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net lncome	`ComprehensiveIncomeNetOfTax`	$256.85K	USD	1 Quarter
Net lncome	`ComprehensiveIncomeNetOfTax`	$182.60K	USD	1 Quarter
Net lncome	`ComprehensiveIncomeNetOfTax`	$153.65K	USD	2 Qtrs
Net lncome	`ComprehensiveIncomeNetOfTax`	$103.20K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilitiesExcludingInterestPayable`	$5.07K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilitiesExcludingInterestPayable`	$9.13K	USD	2 Qtrs
Interest payable	`IncreaseDecreaseInInterestPayableNet`	$112.36K	USD	2 Qtrs
Interest payable	`IncreaseDecreaseInInterestPayableNet`	$102.32K	USD	2 Qtrs
Interest payable - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$19.27K	USD	2 Qtrs
Interest payable - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$12.28K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$239.91K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$277.39K	USD	2 Qtrs
Proceeds from issuance of notes payable	`ProceedsFromNotesPayable`	$13.45K	USD	2 Qtrs
Proceeds from issuance of notes payable	`ProceedsFromNotesPayable`	$306.69K	USD	2 Qtrs
Paid in capital stock options	`ProceedsFromStockOptionsExercised`	$42.60K	USD	2 Qtrs
Paid in capital stock options	`ProceedsFromStockOptionsExercised`	-	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$349.29K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$13.45K	USD	2 Qtrs
Marketable securities mark to market	`PaymentsToAcquireMarketableSecurities`	$312.84K	USD	2 Qtrs
Marketable securities mark to market	`PaymentsToAcquireMarketableSecurities`	$290.84K	USD	2 Qtrs
Investment in non-marketable securities	`PaymentsToAcquireRestrictedInvestments`	-	USD	2 Qtrs
Investment in non-marketable securities	`PaymentsToAcquireRestrictedInvestments`	$178.82K	USD	2 Qtrs
Net cash provided (used) by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-290.84K	USD	2 Qtrs
Net cash provided (used) by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-491.66K	USD	2 Qtrs
Net increase in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	-	USD	2 Qtrs
Net increase in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$97.54K	USD	2 Qtrs
Cash at beginning of period	`CashOverdraftsCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$-39.00	USD	Point-in-time
Cash at beginning of period	`CashOverdraftsCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$97.50K	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 end of period	`CashOverdraftsCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$-39.00	USD	Point-in-time
Cash at end of period	`CashOverdraftsCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$97.50K	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 paid during the period for interest	`InterestPaidNet`	-	USD	2 Qtrs
Cash paid during the period for interest	`InterestPaidNet`	$6.81K	USD	2 Qtrs
Cash paid during the period for state franchise taxes	`StateFranchisetaxesPaid`	-	USD	2 Qtrs
Cash paid during the period for state franchise taxes	`StateFranchisetaxesPaid`	$6.50K	USD	2 Qtrs

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