Form 8-K INCOME OPPORTUNITY REALT For: Aug 12

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

Current Report

 

Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): August 12, 2022

 

Income Opportunity Realty Investors, Inc.

(Exact Name of Registrant as Specified in its Charter)

 

 

Nevada	001-14784	75-2615944
(State or other jurisdiction of Incorporation or organization)	(Commission File No.)	(I.R.S. Employer Identification No.)

 

 

1603 LBJ Freeway, Suite 800 Dallas, Texas	75234
(Address of principal executive offices)	(Zip Code)

 

(469) 522-4200

Registrant's telephone number, including area code

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:

 

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CPR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Securities Act (17 CFR 230.425)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CPR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CPR 240.13e-4(c))

 

Securities registered pursuant to Section l 2(b) of the Act:

 

Title of Each Class	Trading Symbol	Name of Each Exchange on which Registered
Common Stock	IOR	NYSE American Exchange

 

Indicate by check mark whether teh Registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 ((17 CFR 230.405 of or Rule 12b-2 of the Securities Act of 1934 (17 CFR 230.405):

Emerging growth company ☐

If an emerging growth company indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 

Section 2 - Financial Information

 

Item 2.02. Results of Operations and Financial Condition

 

On August 12, 2022, Income Opportunity Realty Investors, Inc. (“IOT” or the “Company”) announced its operational results for the quarter ended June 30, 2022. A copy of the announcement is attached as Exhibit “99.1.”

 

The information furnished pursuant to Item 2.02 in this Form 8-K, including Exhibit “99.1” attached hereto, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that Section, unless we specifically incorporate it by reference in a document filed under the Securities Act of 1933 or the Securities Exchange Act of 1934. We undertake no duty or obligation to publicly update or revise the information furnished pursuant to Item 2.02 of this Current Report on Form 8-K.

 

Section 9 - Financial Statements and Exhibits

 

Item 9.01. Financial Statements and Exhibits

 

(d)

Exhibits.

The following exhibit is furnished with this Report:

 

	Exhibit No.	Description
	99.1*	Press release dated August 12, 2022

 

___________________

* Furnished herewith

 

 

SIGNATURES

 

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

INCOME OPPORTUNITY REALTY INVESTORS, INC.

 

 

Dated: August 12, 2022	By:	/s/  ERIK L. JOHNSON
		Erik L. Johnson
		Executive Vice President and Chief Financial Officer
		(Principal Executive and Financial Officer)

 

 

Income Opportunity Realty Investors, Inc. 8-K

Exhibit 99.1 

 

 

NEWS RELEASE	Contact:
FOR IMMEDIATE RELEASE	Income Opportunity Realty Investors, Inc. Investor Relations Erik Johnson (469) 522-4200 [email protected]

 

 

Income Opportunity Realty Investors, Inc. reports Earnings for Quarter Ended June 30, 2022

 

DALLAS (August 12, 2022) -- Income Opportunity Realty Investors, Inc. (NYSE American: IOR) is reporting its results of operations for the quarter ended June 30, 2022. For the three months ended June 30, 2022 and 2021, we reported net income attributable to common shares of $0.8 million or $0.20 per diluted share.

 

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 June 30,								Six Months Ended June 30,
		2022				2021				2022				2021
Revenues:
Other income			—				—				—				—
Expenses:
General and administrative			68				100				260				288
Advisory fee to related party			273				256				541				592
Total operating expenses			341				356				801				880
Net operating loss			(341	)			(356	)			(801	)			(880	)
Interest income from related parties			1,433				1,231				2,685				2,449
Other income			—				162				—				1,179
Income tax provision			(244	)			(218	)			(410	)			(577	)
Net income applicable to common shares			848				819				1,474				2,171
Earnings per share
Basic and diluted		$	0.20			$	0.20			$	0.35			$	0.52
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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