Income Opportunity Realty Investors : reports Earnings for Quarter Ended June 30, 2022 - Form 8-K

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