10-Q Filing

IRONSTONE PROPERTIES, INC. CIK: 723269 Q2 2022

Filing Information

Form Type	10-Q
Accession Number	`0001437749-22-019319`
Period End Date	20220630
Filing Date	20220808
Fiscal Year	2022
Fiscal Period	Q2
XBRL Instance	irns20220630_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 60 Cash Flow Statement 42

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
Cash	`CashOverdrafts`	$3.17K	USD	Point-in-time
Cash	`CashOverdrafts`	$30.72K	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, 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`	$231.68K	USD	Point-in-time
Marketable securities	`MarketableSecurities`	$604.32K	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
Non-marketable securities	`RestrictedInvestments`	$5.16M	USD	Point-in-time
Non-marketable securities	`RestrictedInvestments`	$4.96M	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`	$5.40M	USD	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 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`	3.46M	shares	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$22.48K	USD	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`	3.46M	shares	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`	$348.84K	USD	Point-in-time
Line of credit borrowings	`LineOfCredit`	$348.84K	USD	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`	$2.45M	USD	Point-in-time
Note payable - related party	`NotesPayableRelatedPartiesCurrentAndNoncurrent`	$624.31K	USD	Point-in-time
Note payable - related party	`NotesPayableRelatedPartiesCurrentAndNoncurrent`	-	USD	Point-in-time
Interest payable - related party	`InterestPayableRelatedParty`	$181.91K	USD	Point-in-time
Interest payable - related party	`InterestPayableRelatedParty`	-	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`	$3.14M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.84M	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 3,462,491 shares are issued and outstanding as of June 30, 2022 and 2,937,225 at December 31, 2021	`CommonStockValue`	$29.37K	USD	Point-in-time
Common stock, $0.01 par value, 25,000,000 shares authorized, of which 3,462,491 shares are issued and outstanding as of June 30, 2022 and 2,937,225 at December 31, 2021	`CommonStockValue`	$34.62K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$21.84M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$22.86M	USD	Point-in-time
Additional paid-in capital - stock options	`AdditionalPaidInCapitalStockOptions`	$334.90K	USD	Point-in-time
Additional paid-in capital - stock options	`AdditionalPaidInCapitalStockOptions`	$212.51K	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`	$1.12M	USD	Point-in-time
Accumulated other comprehensive Income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$2.70M	USD	Point-in-time
Stockholders' Equity before Treasury Stock	`StockholdersEquityBeforeTreasuryStock`	$2.28M	USD	Point-in-time
Stockholders' Equity before Treasury Stock	`StockholdersEquityBeforeTreasuryStock`	$2.78M	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`	$1.76M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$2.26M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$5.60M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$5.40M	USD	Point-in-time

Income Statement 60 line items

Line Item	Tag	Value	Unit	Period
Compensation - stock options	`AllocatedShareBasedCompensationExpense`	$122.39K	USD	2 Qtrs
Compensation - stock options	`AllocatedShareBasedCompensationExpense`	$42.60K	USD	1 Quarter
Compensation - stock options	`AllocatedShareBasedCompensationExpense`	$42.60K	USD	2 Qtrs
Compensation - stock options	`AllocatedShareBasedCompensationExpense`	$61.53K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$12.65K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$11.34K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$5.94K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$8.73K	USD	1 Quarter
State and local taxes	`CurrentStateAndLocalTaxExpenseBenefit`	$3.25K	USD	1 Quarter
State and local taxes	`CurrentStateAndLocalTaxExpenseBenefit`	$10.60K	USD	2 Qtrs
State and local taxes	`CurrentStateAndLocalTaxExpenseBenefit`	-	USD	1 Quarter
State and local taxes	`CurrentStateAndLocalTaxExpenseBenefit`	$-592.00	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpenseIncome`	$3.80K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpenseIncome`	-	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpenseIncome`	$6.73K	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpenseIncome`	$-39.00	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$141.18K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$54.58K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$71.27K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$64.50K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-64.50K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-71.27K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-141.18K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-54.58K	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$66.25K	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$64.23K	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$125.87K	USD	2 Qtrs
Interest expense	`InterestExpenseDebt`	$130.36K	USD	2 Qtrs
Interest expense to related party	`InterestExpenseRelatedParty`	$11.43K	USD	1 Quarter
Interest expense to related party	`InterestExpenseRelatedParty`	$19.27K	USD	2 Qtrs
Interest expense to related party	`InterestExpenseRelatedParty`	$6.31K	USD	1 Quarter
Interest expense to related party	`InterestExpenseRelatedParty`	$18.05K	USD	2 Qtrs
Net operating loss	`NetIncomeLoss`	$-209.64K	USD	2 Qtrs
Net operating loss	`NetIncomeLoss`	$-289.59K	USD	2 Qtrs
Net operating loss	`NetIncomeLoss`	$-130.24K	USD	1 Quarter
Net operating loss	`NetIncomeLoss`	$-143.84K	USD	1 Quarter
Net operating loss	`NetIncomeLoss`	$-209.64K	USD	2 Qtrs
Net operating loss	`NetIncomeLoss`	$-289.59K	USD	2 Qtrs
Net operating loss	`NetIncomeLoss`	$-130.24K	USD	1 Quarter
Net operating loss	`NetIncomeLoss`	$-143.84K	USD	1 Quarter
Unrealized holding gain (loss) arising during the period	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$-263.84K	USD	1 Quarter
Unrealized holding gain (loss) arising during the period	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$312.84K	USD	1 Quarter
Unrealized holding gain (loss) arising during the period	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$-356.27K	USD	2 Qtrs
Unrealized holding gain (loss) arising during the period	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$312.84K	USD	2 Qtrs
Comprehensive profit	`ComprehensiveIncomeNetOfTax`	$-407.67K	USD	1 Quarter
Comprehensive profit	`ComprehensiveIncomeNetOfTax`	$182.60K	USD	1 Quarter
Comprehensive profit	`ComprehensiveIncomeNetOfTax`	$103.20K	USD	2 Qtrs
Comprehensive profit	`ComprehensiveIncomeNetOfTax`	$-645.85K	USD	2 Qtrs
Net operating loss per share (in dollars per share)	`EarningsPerShareBasic`	$0.10	USD	2 Qtrs
Net operating loss per share (in dollars per share)	`EarningsPerShareBasic`	$0.06	USD	1 Quarter
Net operating loss per share (in dollars per share)	`EarningsPerShareBasic`	$0.13	USD	2 Qtrs
Net operating loss per share (in dollars per share)	`EarningsPerShareBasic`	$0.06	USD	1 Quarter
Net comprehensive profit (loss) per share (in dollars per share)	`EarningsPerComprehensiveShareBasicandDiluted`	$-0.17	USD	1 Quarter
Net comprehensive profit (loss) per share (in dollars per share)	`EarningsPerComprehensiveShareBasicandDiluted`	$0.08	USD	1 Quarter
Net comprehensive profit (loss) per share (in dollars per share)	`EarningsPerComprehensiveShareBasicandDiluted`	$-0.28	USD	2 Qtrs
Net comprehensive profit (loss) per share (in dollars per share)	`EarningsPerComprehensiveShareBasicandDiluted`	$0.05	USD	2 Qtrs
Weighted average shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	2.29M	shares	2 Qtrs
Weighted average shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	2.19M	shares	1 Quarter
Weighted average shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	2.19M	shares	2 Qtrs
Weighted average shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	2.37M	shares	1 Quarter

Cash Flow Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net operating loss	`NetIncomeLoss`	$-209.64K	USD	2 Qtrs
Net operating loss	`NetIncomeLoss`	$-289.59K	USD	2 Qtrs
Net operating loss	`NetIncomeLoss`	$-130.24K	USD	1 Quarter
Net operating loss	`NetIncomeLoss`	$-143.84K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilitiesExcludingInterestPayable`	$-11.72K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilitiesExcludingInterestPayable`	$5.07K	USD	2 Qtrs
Interest payable	`IncreaseDecreaseInInterestPayableNet`	$112.36K	USD	2 Qtrs
Interest payable	`IncreaseDecreaseInInterestPayableNet`	$116.95K	USD	2 Qtrs
Interest payable - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$34.42K	USD	2 Qtrs
Interest payable - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$19.27K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-149.93K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-72.93K	USD	2 Qtrs
Proceeds from issuance of notes payable	`ProceedsFromNotesPayable`	$306.69K	USD	2 Qtrs
Proceeds from issuance of notes payable	`ProceedsFromNotesPayable`	-	USD	2 Qtrs
Paid in capital stock options	`ProceedsFromStockOptionsExercised`	$42.60K	USD	2 Qtrs
Paid in capital stock options	`ProceedsFromStockOptionsExercised`	$122.39K	USD	2 Qtrs
Conversion of related party debt to new issue common stock	`ProceedsFromConvertibleDebt`	-	USD	2 Qtrs
Conversion of related party debt to new issue common stock	`ProceedsFromConvertibleDebt`	$824.27K	USD	2 Qtrs
Payment of related party dept	`ProceedsFromIssuanceOfCommonStockFromConversionOfDebt`	$824.27K	USD	2 Qtrs
Payment of related party dept	`ProceedsFromIssuanceOfCommonStockFromConversionOfDebt`	-	USD	2 Qtrs
Issuance of new issue common stock	`ProceedsFromIssuanceOfCommonStock`	$200.00K	USD	2 Qtrs
Issuance of new issue common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$322.39K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$349.29K	USD	2 Qtrs
Investment in non-marketable securities	`PaymentsToAcquireRestrictedInvestments`	$200.00K	USD	2 Qtrs
Investment in non-marketable securities	`PaymentsToAcquireRestrictedInvestments`	$178.82K	USD	2 Qtrs
Net cash provided (used) by financing activities	`NetCashProvidedByUsedInInvestingActivities`	$-200.00K	USD	2 Qtrs
Net cash provided (used) by financing activities	`NetCashProvidedByUsedInInvestingActivities`	$-178.82K	USD	2 Qtrs
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-27.54K	USD	2 Qtrs
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$97.53K	USD	2 Qtrs
Cash at beginning of period	`CashOverdraftsCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$-39.00	USD	Point-in-time
Cash at beginning of period	`CashOverdraftsCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.17K	USD	Point-in-time
Cash at beginning of period	`CashOverdraftsCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$97.50K	USD	Point-in-time
Cash at beginning of period	`CashOverdraftsCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$30.72K	USD	Point-in-time
Cash at end of period	`CashOverdraftsCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$-39.00	USD	Point-in-time
Cash at end of period	`CashOverdraftsCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.17K	USD	Point-in-time
Cash at end of period	`CashOverdraftsCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$97.50K	USD	Point-in-time
Cash at end of period	`CashOverdraftsCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$30.72K	USD	Point-in-time
Cash paid during the period for interest	`InterestPaidNet`	$6.81K	USD	2 Qtrs
Cash paid during the period for interest	`InterestPaidNet`	$13.41K	USD	2 Qtrs
Cash paid during the period for state franchise taxes	`StateFranchisetaxesPaid`	$6.50K	USD	2 Qtrs
Cash paid during the period for state franchise taxes	`StateFranchisetaxesPaid`	$-592.00	USD	2 Qtrs

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