10-Q Filing

IRONSTONE PROPERTIES, INC. CIK: 723269 Q3 2021

Filing Information

Form Type	10-Q
Accession Number	`0001437749-21-025708`
Period End Date	20210930
Filing Date	20211108
Fiscal Year	2021
Fiscal Period	Q3
XBRL Instance	irns20210930_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 63 Income Statement 61 Cash Flow Statement 38

Balance Sheet 63 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
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash	`CashOverdrafts`	$49.40K	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
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`	$892.67K	USD	Point-in-time
Marketable securities	`MarketableSecurities`	$1.03M	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, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Non-marketable securities	`RestrictedInvestments`	$4.96M	USD	Point-in-time
Total assets	`Assets`	$5.90M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Total assets	`Assets`	$3.61M	USD	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`	$34.00K	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	2.94M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	2.94M	shares	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$151.12K	USD	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	745,536.00	shares	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	745,536.00	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
Note payable	`NotesPayable`	$2.27M	USD	Point-in-time
Note payable	`NotesPayable`	$2.11M	USD	Point-in-time
Note payable - related party	`NotesPayableRelatedPartiesCurrentAndNoncurrent`	$317.62K	USD	Point-in-time
Note payable - related party	`NotesPayableRelatedPartiesCurrentAndNoncurrent`	$624.31K	USD	Point-in-time
Interest payable - related party	`InterestPayableRelatedParty`	$170.22K	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`	$3.45M	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 September 30, 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 September 30, 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`	-	USD	Point-in-time
Additional paid-in capital - stock options	`AdditionalPaidInCapitalStockOptions`	$104.81K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-22.48M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-23.20M	USD	Point-in-time
Accumulated other comprehensive Income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.76M	USD	Point-in-time
Accumulated other comprehensive Income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.76M	USD	Point-in-time
Net income	`ComprehensiveIncomeNetOfTax`	$1.71M	USD	3 Qtrs
Net income	`ComprehensiveIncomeNetOfTax`	$1.61M	USD	1 Quarter
Net income	`ComprehensiveIncomeNetOfTax`	$636.81K	USD	Annual
Net income	`ComprehensiveIncomeNetOfTax`	$29.41K	USD	1 Quarter
Net income	`ComprehensiveIncomeNetOfTax`	$183.06K	USD	3 Qtrs
Stockholders' Equity before Treasury Stock	`StockholdersEquityBeforeTreasuryStock`	$2.97M	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`	$2.45M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$5.90M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$3.61M	USD	Point-in-time

Income Statement 61 line items

Line Item	Tag	Value	Unit	Period
Compensation - stock options	`AllocatedShareBasedCompensationExpense`	$62.21K	USD	1 Quarter
Compensation - stock options	`AllocatedShareBasedCompensationExpense`	-	USD	1 Quarter
Compensation - stock options	`AllocatedShareBasedCompensationExpense`	$104.81K	USD	3 Qtrs
Compensation - stock options	`AllocatedShareBasedCompensationExpense`	-	USD	3 Qtrs
Professional fees	`ProfessionalFees`	$12.09K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$234.00	USD	3 Qtrs
Professional fees	`ProfessionalFees`	-	USD	1 Quarter
Professional fees	`ProfessionalFees`	$23.43K	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpenseIncome`	-	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpenseIncome`	-	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpenseIncome`	$-4.32K	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpenseIncome`	$-4.28K	USD	1 Quarter
State and local taxes	`CurrentStateAndLocalTaxExpenseBenefit`	$12.15K	USD	3 Qtrs
State and local taxes	`CurrentStateAndLocalTaxExpenseBenefit`	$2.36K	USD	1 Quarter
State and local taxes	`CurrentStateAndLocalTaxExpenseBenefit`	$3.25K	USD	1 Quarter
State and local taxes	`CurrentStateAndLocalTaxExpenseBenefit`	$12.96K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$72.38K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$136.88K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$3.25K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$12.38K	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-12.38K	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-3.25K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-136.88K	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-72.38K	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$176.13K	USD	3 Qtrs
Interest expense	`InterestExpenseDebt`	$60.36K	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$182.70K	USD	3 Qtrs
Interest expense	`InterestExpenseDebt`	$56.83K	USD	1 Quarter
Interest expense to related party	`InterestExpenseRelatedParty`	$11.65K	USD	1 Quarter
Interest expense to related party	`InterestExpenseRelatedParty`	$6.52K	USD	1 Quarter
Interest expense to related party	`InterestExpenseRelatedParty`	$18.80K	USD	3 Qtrs
Interest expense to related party	`InterestExpenseRelatedParty`	$30.92K	USD	3 Qtrs
Net operating loss	`NetIncomeLoss`	$-350.50K	USD	3 Qtrs
Net operating loss	`NetIncomeLoss`	$-70.13K	USD	1 Quarter
Net operating loss	`NetIncomeLoss`	$-140.86K	USD	1 Quarter
Net operating loss	`NetIncomeLoss`	$-207.32K	USD	3 Qtrs
Net operating loss	`NetIncomeLoss`	$-350.50K	USD	3 Qtrs
Net operating loss	`NetIncomeLoss`	$-70.13K	USD	1 Quarter
Net operating loss	`NetIncomeLoss`	$-140.86K	USD	1 Quarter
Net operating loss	`NetIncomeLoss`	$-207.32K	USD	3 Qtrs
Unrealized holding gain (loss) arising during the period	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$2.06M	USD	3 Qtrs
Unrealized holding gain (loss) arising during the period	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$99.54K	USD	1 Quarter
Unrealized holding gain (loss) arising during the period	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$1.75M	USD	1 Quarter
Unrealized holding gain (loss) arising during the period	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$390.38K	USD	3 Qtrs
Comprehensive profit	`ComprehensiveIncomeNetOfTax`	$1.71M	USD	3 Qtrs
Comprehensive profit	`ComprehensiveIncomeNetOfTax`	$1.61M	USD	1 Quarter
Comprehensive profit	`ComprehensiveIncomeNetOfTax`	$636.81K	USD	Annual
Comprehensive profit	`ComprehensiveIncomeNetOfTax`	$29.41K	USD	1 Quarter
Comprehensive profit	`ComprehensiveIncomeNetOfTax`	$183.06K	USD	3 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`	$0.16	USD	3 Qtrs
Net operating loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.03	USD	1 Quarter
Net operating loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.09	USD	3 Qtrs
Net comprehensive profit per share (in dollars per share)	`EarningsPerComprehensiveShareBasicandDiluted`	$0.74	USD	1 Quarter
Net comprehensive profit per share (in dollars per share)	`EarningsPerComprehensiveShareBasicandDiluted`	$0.08	USD	3 Qtrs
Net comprehensive profit per share (in dollars per share)	`EarningsPerComprehensiveShareBasicandDiluted`	$0.01	USD	1 Quarter
Net comprehensive profit per share (in dollars per share)	`EarningsPerComprehensiveShareBasicandDiluted`	$0.78	USD	3 Qtrs
Shares outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.19M	shares	1 Quarter
Shares outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.19M	shares	3 Qtrs
Shares outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.19M	shares	1 Quarter
Shares outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.19M	shares	3 Qtrs

Cash Flow Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net lncome	`NetIncomeLoss`	$-350.50K	USD	3 Qtrs
Net lncome	`NetIncomeLoss`	$-70.13K	USD	1 Quarter
Net lncome	`NetIncomeLoss`	$-140.86K	USD	1 Quarter
Net lncome	`NetIncomeLoss`	$-207.32K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilitiesExcludingInterestPayable`	$12.38K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilitiesExcludingInterestPayable`	$-82.02K	USD	3 Qtrs
Interest payable	`IncreaseDecreaseInInterestPayableNet`	$127.28K	USD	3 Qtrs
Interest payable	`IncreaseDecreaseInInterestPayableNet`	$155.84K	USD	3 Qtrs
Interest payable - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$18.80K	USD	3 Qtrs
Interest payable - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$30.92K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-20.29K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-274.32K	USD	3 Qtrs
Proceeds from issuance of notes payable	`ProceedsFromNotesPayable`	$20.29K	USD	3 Qtrs
Proceeds from issuance of notes payable	`ProceedsFromNotesPayable`	$306.69K	USD	3 Qtrs
Paid in capital stock options	`ProceedsFromStockOptionsExercised`	-	USD	3 Qtrs
Paid in capital stock options	`ProceedsFromStockOptionsExercised`	$104.81K	USD	3 Qtrs
Prior period adjustment accrued expenses	`PriorPeriodAdjustmentAccruedExpenses`	-	USD	3 Qtrs
Prior period adjustment accrued expenses	`PriorPeriodAdjustmentAccruedExpenses`	$91.08K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$20.29K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$502.58K	USD	3 Qtrs
Investment in non-marketable securities	`PaymentsToAcquireRestrictedInvestments`	-	USD	3 Qtrs
Investment in non-marketable securities	`PaymentsToAcquireRestrictedInvestments`	$178.82K	USD	3 Qtrs
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-178.82K	USD	3 Qtrs
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	3 Qtrs
Net increase in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$49.44K	USD	3 Qtrs
Net increase in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	-	USD	3 Qtrs
Cash at beginning of period	`CashOverdraftsCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$-39.00	USD	Point-in-time
Cash at beginning of period	`CashOverdraftsCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$49.40K	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`	$49.40K	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`	$13.63K	USD	3 Qtrs
Cash paid during the period for interest	`InterestPaidNet`	-	USD	3 Qtrs
Cash paid during the period for state franchise taxes	`StateFranchisetaxesPaid`	$24.31K	USD	3 Qtrs
Cash paid during the period for state franchise taxes	`StateFranchisetaxesPaid`	-	USD	3 Qtrs

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