Wed, Apr 16, 10:10 AM (11 days ago)
**Ironstone Properties, Inc. (IRNS) - Financial Summary** **Financial Performance (in thousands):** - **Revenue:** Not explicitly stated, implying minimal or no revenue from operations. - **Net Income:** $(599,302) for 2024, $(1,733,851) for 2023. - **Operating Expenses:** $212,336 for 2024, $287,044 for 2023. - **Earnings per Share:** $(0.22) for 2024, $(0.64) for 2023. **Financial Condition:** - **Cash:** $26,174 at the end of 2024, $0 at the end of 2023. - **Marketable Securities:** $0 at the end of 2024, $895 at the end of 2023. - **Non-Marketable Investments:** $3,161,359 at the end of 2024, $3,439,881 at the end of 2023. - **Total Assets:** $3,187,532 at the end of 2024, $3,440,740 at the end of 2023. - **Total Liabilities:** $3,465,355 at the end of 2024, $3,264,509 at the end of 2023. - **Stockholders' Equity:** $(277,822) at the end of 2024, $176,232 at the end of 2023. **Strategic Overview:** - Ironstone is pursuing disruptive business opportunities in various technology sectors. - The company has a line of credit with First Republic Bank, with an outstanding balance of $348,843 at the end of 2024. - Ironstone has investments in non-marketable securities of TangoMe Inc., Buoy Health, Inc., and Aristotle Inc. **Future Outlook:** - The company is seeking to relist on the OTC, though there is no assurance of success. - Ironstone may obtain additional equity or working capital through bank borrowings, public or private sales of equity securities, or exercises of outstanding stock options. **Risk Factors:** - The company's main assets are investments in non-marketable securities, with no assurance of a continuing market. - Ironstone has been unable to contract a PCAOB auditor for an examination of financial statements and records. - The company's trading liquidity was reduced due to the SEC's removal from "Retail OTC" to "Expert Trading" category. **Market Position Changes:** - The company's common stock traded on the OTC Markets under the symbol IRNS until September 2022. - The company has not paid cash dividends on its common stock since its inception and does not intend to do so in the foreseeable future. **Directors and Executive Officers:** - William R. Hambrecht is the Director and Chief Executive Officer, owning approximately 49.8% of Ironstone’s outstanding voting shares. - Robert Hambrecht is the Chief Financial Officer, appointed on December 22, 2023.