Income Opportunity Realty Investors, Inc. Reports Earnings for Quarter Ended December 31, 2022

About this update from Income Opportunity Realty Investors, Inc.

Income Opportunity Realty Investors, Inc. (NYSE American:IOR) is reporting its results of operations for the quarter ended December 31, 2022. For the three months ended December 31, 2022, we reported net income attributable to common shares of $1.3 million or $0.30 per diluted share compared to a net income of $0.7 million or $0.17 per share for the same period in 2021. Our increase in net income is attributable to an increase in interest income due to an increase in interest rates in 2022. About Income Opportunity Realty Investors, Inc. Income Opportunity Realty Investors, Inc., a Dallas-based real estate investment company, currently holds a portfolio of notes receivable. The Company invests in real estate through direct equity ownership and partnerships. For more information, visit the Company’s website at www.incomeopp-realty.com . INCOME OPPORTUNITY REALTY INVESTORS, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (Dollars in thousands, except per share amounts) (Unaudited) Three Months Ended December 31,   Twelve Months Ended December 31, 2022   2021   2022   2021   Revenues: Other Income $ -   $ -   $ -   $ -   Expenses: General and administrative   77     94     451     470   Advisory fee to related party   351     259     1,175     1,108   Total operating expenses   428     353     1,626     1,578   Net operating loss   (428 )   (353 )   (1,626 )   (1,578 ) Interest income from related parties   2,096     1,256     6,602     4,953   Other Income   -     -     -     1,179   Income tax provision   (399 )   (188 )   (1,045 )   (956 ) Net income applicable to common shares   1,269     715     3,931     3,598     Earnings per share Basic and diluted $ 0.30   $ 0.17   $ 0.94   $ 0.86     Weighted average common shares used in computing earnings per share Basic and diluted   4,168,414     4,168,414     4,168,414     4,168,414     View source version on businesswire.com: https://www.businesswire.com/news/home/20230323005024/en/

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