Income Opportunity Realty Investors, Inc. (NYSE American:IOR) is reporting its results of operations for the quarter ended September 30, 2022. For the three months ended September 30, 2022 and 2021, we reported net income attributable to common shares of $1.2 million or $0.29 per diluted share compared to a net income of $0.7 million or $0.17 per share for the same period in 2021.
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
|
Nine Months Ended
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2022 | 2021 | 2022 | 2021 | |||||||||||||
| Revenues: | ||||||||||||||||
| Other Income | $ | - | $ | - | $ | - | $ | - | ||||||||
| Expenses: | ||||||||||||||||
| General and administrative | 114 | 88 | 374 | 376 | ||||||||||||
| Advisory fee to related party | 283 | 257 | 824 | 849 | ||||||||||||
| Total operating expenses | 397 | 345 | 1,198 | 1,225 | ||||||||||||
| Net operating loss | (397 | ) | (345 | ) | (1,198 | ) | (1,225 | ) | ||||||||
| Interest income from related parties | 1,821 | 1,248 | 4,506 | 3,697 | ||||||||||||
| Other Income | - | - | - | 1,179 | ||||||||||||
| Income tax provision | (236 | ) | (191 | ) | (646 | ) | (768 | ) | ||||||||
| Net income applicable to common shares | 1,188 | 712 | 2,662 | 2,883 | ||||||||||||
| Earnings per share | ||||||||||||||||
| Basic and diluted | $ | 0.29 | $ | 0.17 | $ | 0.64 | $ | 0.69 | ||||||||
| 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 | ||||||||||||
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