10-Q Filing

IRONSTONE PROPERTIES, INC. CIK: 723269 Q3 2022

Filing Information

Form Type	10-Q
Accession Number	`0001437749-22-027891`
Period End Date	20220930
Filing Date	20221122
Fiscal Year	2022
Fiscal Period	Q3
XBRL Instance	irns20220930_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 60 Cash Flow Statement 47

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Preferred Stock, Par or Stated Value Per Share (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred Stock, Par or Stated Value Per Share (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	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
Cash	`CashOverdrafts`	$2.56K	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, Ending Balance (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred Stock, Shares Outstanding, Ending Balance (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Marketable securities	`MarketableSecurities`	$604.32K	USD	Point-in-time
Marketable securities	`MarketableSecurities`	$85.56K	USD	Point-in-time
Common Stock, Par or Stated Value Per Share (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Non-marketable securities	`RestrictedInvestments`	$4.66M	USD	Point-in-time
Common Stock, Par or Stated Value Per Share (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Non-marketable securities	`RestrictedInvestments`	$4.96M	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
Total assets	`Assets`	$4.75M	USD	Point-in-time
Common Stock, Shares Authorized (in shares)	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Common Stock, Shares, Outstanding, Ending Balance (in shares)	`CommonStockSharesOutstanding`	3.46M	shares	Point-in-time
Common Stock, Shares, Outstanding, Ending Balance (in shares)	`CommonStockSharesOutstanding`	2.94M	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`	$37.39K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$34.20K	USD	Point-in-time
Line of credit borrowings	`LineOfCredit`	$348.84K	USD	Point-in-time
Treasury Stock, Shares, Total (in shares)	`TreasuryStockShares`	745,536.00	shares	Point-in-time
Line of credit borrowings	`LineOfCredit`	$348.84K	USD	Point-in-time
Treasury Stock, Shares, Total (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`	$2.51M	USD	Point-in-time
Note payable	`NotesPayable`	$2.33M	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`	-	USD	Point-in-time
Interest payable - related party	`InterestPayableRelatedParty`	$181.91K	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`	$3.22M	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 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`	$34.62K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$22.86M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$21.84M	USD	Point-in-time
Additional paid-in capital - stock options	`AdditionalPaidInCapitalStockOptions`	$397.11K	USD	Point-in-time
Additional paid-in capital - stock options	`AdditionalPaidInCapitalStockOptions`	$212.51K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-21.56M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-22.50M	USD	Point-in-time
Accumulated other comprehensive Income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$2.70M	USD	Point-in-time
Accumulated other comprehensive Income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$333.83K	USD	Point-in-time
Stockholders' Equity before Treasury Stock	`StockholdersEquityBeforeTreasuryStock`	$2.06M	USD	Point-in-time
Stockholders' Equity before Treasury Stock	`StockholdersEquityBeforeTreasuryStock`	$2.28M	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`	$1.54M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.76M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$5.60M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$4.75M	USD	Point-in-time

Income Statement 60 line items

Line Item	Tag	Value	Unit	Period
Compensation - stock options	`AllocatedShareBasedCompensationExpense`	$62.21K	USD	1 Quarter
Compensation - stock options	`AllocatedShareBasedCompensationExpense`	$104.81K	USD	3 Qtrs
Compensation - stock options	`AllocatedShareBasedCompensationExpense`	$62.21K	USD	1 Quarter
Compensation - stock options	`AllocatedShareBasedCompensationExpense`	$184.60K	USD	3 Qtrs
Professional fees	`ProfessionalFees`	$12.09K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$13.60K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$23.43K	USD	3 Qtrs
Professional fees	`ProfessionalFees`	$26.26K	USD	3 Qtrs
State and local taxes	`CurrentStateAndLocalTaxExpenseBenefit`	$8.54K	USD	3 Qtrs
State and local taxes	`CurrentStateAndLocalTaxExpenseBenefit`	$9.13K	USD	1 Quarter
State and local taxes	`CurrentStateAndLocalTaxExpenseBenefit`	$12.96K	USD	3 Qtrs
State and local taxes	`CurrentStateAndLocalTaxExpenseBenefit`	$2.36K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpenseIncome`	$3.50K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpenseIncome`	$-4.28K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpenseIncome`	$10.23K	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpenseIncome`	$-4.32K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$72.38K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$229.63K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$136.88K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$88.45K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-229.63K	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-72.38K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-136.88K	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-88.45K	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$200.27K	USD	3 Qtrs
Interest expense	`InterestExpenseDebt`	$69.91K	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$56.83K	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$182.70K	USD	3 Qtrs
Interest expense to related party	`InterestExpenseRelatedParty`	$30.92K	USD	3 Qtrs
Interest expense to related party	`InterestExpenseRelatedParty`	$18.05K	USD	3 Qtrs
Interest expense to related party	`InterestExpenseRelatedParty`	$11.65K	USD	1 Quarter
Interest expense to related party	`InterestExpenseRelatedParty`	-	USD	1 Quarter
Net operating loss	`NetIncomeLoss`	$-447.95K	USD	3 Qtrs
Net operating loss	`NetIncomeLoss`	$-350.50K	USD	3 Qtrs
Net operating loss	`NetIncomeLoss`	$-158.36K	USD	1 Quarter
Net operating loss	`NetIncomeLoss`	$-140.86K	USD	1 Quarter
Net operating loss	`NetIncomeLoss`	$-447.95K	USD	3 Qtrs
Net operating loss	`NetIncomeLoss`	$-350.50K	USD	3 Qtrs
Net operating loss	`NetIncomeLoss`	$-158.36K	USD	1 Quarter
Net operating loss	`NetIncomeLoss`	$-140.86K	USD	1 Quarter
Unrealized holding gain (loss) arising during the period	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$-624.89K	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`	$2.06M	USD	3 Qtrs
Unrealized holding gain (loss) arising during the period	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$-981.15K	USD	3 Qtrs
Comprehensive profit	`ComprehensiveIncomeNetOfTax`	$-783.25K	USD	1 Quarter
Comprehensive profit	`ComprehensiveIncomeNetOfTax`	$-1.43M	USD	3 Qtrs
Comprehensive profit	`ComprehensiveIncomeNetOfTax`	$1.61M	USD	1 Quarter
Comprehensive profit	`ComprehensiveIncomeNetOfTax`	$1.71M	USD	3 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`	$-0.18	USD	3 Qtrs
Net operating loss per share (in dollars per share)	`EarningsPerShareBasic`	$-0.16	USD	3 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`	$0.78	USD	3 Qtrs
Net comprehensive profit (loss) per share (in dollars per share)	`EarningsPerComprehensiveShareBasicandDiluted`	$-0.59	USD	3 Qtrs
Net comprehensive profit (loss) per share (in dollars per share)	`EarningsPerComprehensiveShareBasicandDiluted`	$0.74	USD	1 Quarter
Net comprehensive profit (loss) per share (in dollars per share)	`EarningsPerComprehensiveShareBasicandDiluted`	$-0.29	USD	1 Quarter
Weighted average shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	2.19M	shares	3 Qtrs
Weighted average shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	2.19M	shares	1 Quarter
Weighted average shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	2.44M	shares	3 Qtrs
Weighted average shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	2.72M	shares	1 Quarter

Cash Flow Statement 47 line items

Line Item	Tag	Value	Unit	Period
Net Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-783.25K	USD	1 Quarter
Net Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-1.43M	USD	3 Qtrs
Net Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$1.61M	USD	1 Quarter
Net Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$1.71M	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilitiesExcludingInterestPayable`	$3.19K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilitiesExcludingInterestPayable`	$-82.02K	USD	3 Qtrs
Interest payable	`IncreaseDecreaseInInterestPayableNet`	$179.90K	USD	3 Qtrs
Interest payable	`IncreaseDecreaseInInterestPayableNet`	$264.90K	USD	3 Qtrs
Interest payable - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$30.92K	USD	3 Qtrs
Interest payable - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$-181.91K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.93M	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.43M	USD	3 Qtrs
Proceeds from issuance of notes payable	`ProceedsFromNotesPayable`	-	USD	3 Qtrs
Proceeds from issuance of notes payable	`ProceedsFromNotesPayable`	$6.69K	USD	3 Qtrs
Paid in capital stock options	`ProceedsFromStockOptionsExercised`	$104.81K	USD	3 Qtrs
Paid in capital stock options	`ProceedsFromStockOptionsExercised`	$184.60K	USD	3 Qtrs
Conversion of related party debt to new issue common stock	`ProceedsFromConvertibleDebt`	$-624.31K	USD	3 Qtrs
Conversion of related party debt to new issue common stock	`ProceedsFromConvertibleDebt`	-	USD	3 Qtrs
Payment of related party dept	`ProceedsFromIssuanceOfCommonStockFromConversionOfDebt`	-	USD	3 Qtrs
Prior Period Adjustment to Retained Earnings	`PriorPeriodAdjustmentRetainedEarnings`	-	USD	3 Qtrs
Prior Period Adjustment to Retained Earnings	`PriorPeriodAdjustmentRetainedEarnings`	$91.08K	USD	3 Qtrs
Issuance of new issue common stock	`ProceedsFromIssuanceOfCommonStock`	$1.02M	USD	3 Qtrs
Issuance of new issue common stock	`ProceedsFromIssuanceOfCommonStock`	$162.38K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$584.55K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$364.96K	USD	3 Qtrs
Marketable securities mark to market	`PaymentsToAcquireMarketableSecurities`	$518.76K	USD	3 Qtrs
Marketable securities mark to market	`PaymentsToAcquireMarketableSecurities`	$142.20K	USD	3 Qtrs
Non-marketable securities mark to market	`PaymentsToAcquireRestrictedInvestments`	$2.39M	USD	3 Qtrs
Non-marketable securities mark to market	`PaymentsToAcquireRestrictedInvestments`	$296.45K	USD	3 Qtrs
Non-marketable securities mark to market	`PaymentsToAcquireRestrictedInvestments`	$2.39M	USD	3 Qtrs
Non-marketable securities mark to market	`PaymentsToAcquireRestrictedInvestments`	$296.45K	USD	3 Qtrs
Net cash provided (used) by financing activities	`NetCashProvidedByUsedInInvestingActivities`	$815.20K	USD	3 Qtrs
Net cash provided (used) by financing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.24M	USD	3 Qtrs
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$49.43K	USD	3 Qtrs
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-28.16K	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`	$30.72K	USD	Point-in-time
Cash at beginning of period	`CashOverdraftsCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.56K	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`	$30.72K	USD	Point-in-time
Cash at end of period	`CashOverdraftsCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.56K	USD	Point-in-time
Cash paid during the period for interest	`InterestPaidNet`	$20.37K	USD	3 Qtrs
Cash paid during the period for interest	`InterestPaidNet`	$13.63K	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`	$8.54K	USD	3 Qtrs

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