10-Q Filing

IRONSTONE PROPERTIES, INC. CIK: 723269 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001437749-22-012788`
Period End Date	20220331
Filing Date	20220517
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	irns20220331_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 32 Cash Flow Statement 36

Balance Sheet 62 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`	$30.72K	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash	`CashOverdrafts`	$8.65K	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
Marketable securities	`MarketableSecurities`	$604.32K	USD	Point-in-time
Marketable securities	`MarketableSecurities`	$511.89K	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
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`	$4.96M	USD	Point-in-time
Non-marketable securities	`RestrictedInvestments`	$4.96M	USD	Point-in-time
Total assets	`Assets`	$5.48M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Total assets	`Assets`	$5.60M	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`	$34.20K	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`	$27.86K	USD	Point-in-time
Line of credit borrowings	`LineOfCredit`	$348.84K	USD	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	745,536.00	shares	Point-in-time
Line of credit borrowings	`LineOfCredit`	$348.84K	USD	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	745,536.00	shares	Point-in-time
Interest payable line of credit	`InterestPayableLineOfCredit`	$1.26K	USD	Point-in-time
Interest payable line of credit	`InterestPayableLineOfCredit`	$1.26K	USD	Point-in-time
Note payable	`NotesPayable`	$2.33M	USD	Point-in-time
Note payable	`NotesPayable`	$2.39M	USD	Point-in-time
Note payable - related party	`NotesPayableRelatedPartiesCurrentAndNoncurrent`	$624.31K	USD	Point-in-time
Note payable - related party	`NotesPayableRelatedPartiesCurrentAndNoncurrent`	$624.31K	USD	Point-in-time
Interest payable - related party	`InterestPayableRelatedParty`	$181.91K	USD	Point-in-time
Interest payable - related party	`InterestPayableRelatedParty`	$193.64K	USD	Point-in-time
Deferred income tax payable	`DeferredIncomeTaxLiabilitiesNet`	$318.31K	USD	Point-in-time
Deferred income tax payable	`DeferredIncomeTaxLiabilitiesNet`	$318.31K	USD	Point-in-time
Total liabilities	`Liabilities`	$3.84M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.90M	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, 2022 and December 31, 2021	`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, 2022 and December 31, 2021	`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`	$212.51K	USD	Point-in-time
Additional paid-in capital - stock options	`AdditionalPaidInCapitalStockOptions`	$273.36K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-22.50M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-21.56M	USD	Point-in-time
Accumulated other comprehensive Income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$2.70M	USD	Point-in-time
Accumulated other comprehensive Income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.52M	USD	Point-in-time
Stockholders' Equity before Treasury Stock	`StockholdersEquityBeforeTreasuryStock`	$2.28M	USD	Point-in-time
Stockholders' Equity before Treasury Stock	`StockholdersEquityBeforeTreasuryStock`	$2.10M	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`	$1.58M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.76M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$5.48M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$5.60M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Compensation - stock options	`AllocatedShareBasedCompensationExpense`	-	USD	1 Quarter
Compensation - stock options	`AllocatedShareBasedCompensationExpense`	$60.86K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$6.72K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$2.61K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpenseIncome`	$2.92K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpenseIncome`	$-39.00	USD	1 Quarter
State and local taxes	`CurrentStateAndLocalTaxExpenseBenefit`	$-592.00	USD	1 Quarter
State and local taxes	`CurrentStateAndLocalTaxExpenseBenefit`	$7.35K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$69.91K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$9.92K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-9.92K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-69.91K	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$61.64K	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$64.11K	USD	1 Quarter
Interest expense to related party	`InterestExpenseRelatedParty`	$11.74K	USD	1 Quarter
Interest expense to related party	`InterestExpenseRelatedParty`	$7.84K	USD	1 Quarter
Net operating loss	`NetIncomeLoss`	$-79.40K	USD	1 Quarter
Net operating loss	`NetIncomeLoss`	$-145.75K	USD	1 Quarter
Net operating loss	`NetIncomeLoss`	$-79.40K	USD	1 Quarter
Net operating loss	`NetIncomeLoss`	$-145.75K	USD	1 Quarter
Unrealized holding loss arising during the period	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$-92.43K	USD	1 Quarter
Unrealized holding loss arising during the period	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	-	USD	1 Quarter
Deferred income tax	`OtherComprehensiveIncomeLossDeferredIncomeTax`	-	USD	1 Quarter
Deferred income tax	`OtherComprehensiveIncomeLossDeferredIncomeTax`	-	USD	1 Quarter
Comprehensive profit (loss) after income taxes	`ComprehensiveIncomeNetOfTax`	$-238.18K	USD	1 Quarter
Comprehensive profit (loss) after income taxes	`ComprehensiveIncomeNetOfTax`	$-79.40K	USD	1 Quarter
Net operating loss per share (in dollars per share)	`EarningsPerShareBasic`	$0.07	USD	1 Quarter
Net operating loss per share (in dollars per share)	`EarningsPerShareBasic`	$0.04	USD	1 Quarter
Net comprehensive profit per share (in dollars per share)	`EarningsPerComprehensiveShareBasicandDiluted`	$-0.04	USD	1 Quarter
Net comprehensive profit per share (in dollars per share)	`EarningsPerComprehensiveShareBasicandDiluted`	$-0.11	USD	1 Quarter
Shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	2.19M	shares	1 Quarter
Shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	2.19M	shares	1 Quarter

Cash Flow Statement 36 line items

Line Item	Tag	Value	Unit	Period
Net lncome (loss)	`NetIncomeLoss`	$-79.40K	USD	1 Quarter
Net lncome (loss)	`NetIncomeLoss`	$-145.75K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilitiesExcludingInterestPayable`	$-6.34K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilitiesExcludingInterestPayable`	$5.86K	USD	1 Quarter
Interest payable	`IncreaseDecreaseInInterestPayableNet`	$57.44K	USD	1 Quarter
Interest payable	`IncreaseDecreaseInInterestPayableNet`	$54.95K	USD	1 Quarter
Interest payable - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$11.74K	USD	1 Quarter
Interest payable - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$7.84K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-82.92K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-10.75K	USD	1 Quarter
Proceeds from issuance of notes payable	`ProceedsFromNotesPayable`	-	USD	1 Quarter
Proceeds from issuance of notes payable	`ProceedsFromNotesPayable`	$306.69K	USD	1 Quarter
Paid in capital stock options	`ProceedsFromStockOptionsExercised`	$60.86K	USD	1 Quarter
Paid in capital stock options	`ProceedsFromStockOptionsExercised`	-	USD	1 Quarter
Prior period adjustment accrued expenses	`PriorPeriodAdjustmentAccruedExpenses`	-	USD	1 Quarter
Prior period adjustment accrued expenses	`PriorPeriodAdjustmentAccruedExpenses`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$60.86K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$306.69K	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`	$-178.82K	USD	1 Quarter
Net cash provided (used) by financing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$117.11K	USD	1 Quarter
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-22.06K	USD	1 Quarter
Cash at beginning of period	`CashOverdraftsCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$-39.00	USD	Point-in-time
Cash at beginning of period	`CashOverdraftsCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$8.65K	USD	Point-in-time
Cash at beginning of period	`CashOverdraftsCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$30.72K	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`	$8.65K	USD	Point-in-time
Cash at end of period	`CashOverdraftsCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$30.72K	USD	Point-in-time
Cash at end of period	`CashOverdraftsCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$117.08K	USD	Point-in-time
Cash paid during the period for state franchise taxes	`StateFranchisetaxesPaid`	$1.09K	USD	1 Quarter
Cash paid during the period for state franchise taxes	`StateFranchisetaxesPaid`	-	USD	1 Quarter
Cash paid during the period for interest	`InterestPaidNet`	$6.84K	USD	1 Quarter
Cash paid during the period for interest	`InterestPaidNet`	$6.67K	USD	1 Quarter

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