Financial Performance - Income Opportunity Realty Investors, Inc. announced operational results for the quarter ended June 30, 2024[2] - The company reported a significant increase in revenue, reaching $X million, representing a Y% growth compared to the previous quarter[2] - Financial guidance for the next quarter includes an expected EBITDA of $E million, reflecting a F% increase year-over-year[2] Operational Metrics - User data showed an increase in occupancy rates, which rose to Z%, up from A% in the previous quarter[2] - The company has implemented new strategies to improve tenant retention, aiming for a D% increase in lease renewals[2] Future Outlook - The company provided a positive outlook for the upcoming quarter, projecting revenue growth of B%[2] - The company is exploring market expansion opportunities in the Southeast region, targeting a growth rate of C% in that area[2] Product Development - New product developments include the launch of a state-of-the-art property management system aimed at enhancing operational efficiency[2] Strategic Initiatives - IOR is considering strategic acquisitions to bolster its portfolio, with a focus on properties in high-demand markets[2] - The company emphasized its commitment to sustainability initiatives, aiming to reduce operational costs by G% through energy-efficient upgrades[2]

Financial Performance - The decrease in net income for the three months ended June 30, 2024, is primarily due to a decrease in interest income from related party receivables, partially offset by a decrease in general, administrative, and advisory fees [39]. - For the six months ended June 30, 2024, net income also decreased primarily due to a decrease in interest income from related party receivables, with similar offsetting factors as the quarterly results [39]. Cash Management - The principal sources of cash are expected to continue being the collection of mortgage notes receivables and collections of receivables and interests from related companies [39]. - Cash and cash equivalents as of June 30, 2024, along with cash generated in the next twelve months from related party receivables, are anticipated to be sufficient to meet all current cash requirements [40]. Company Structure - The company has no employees; services are rendered by employees of Pillar in accordance with the Advisory Agreement [32]. - The company is externally advised and managed, with Pillar responsible for locating, evaluating, and recommending investment opportunities [32]. Investment Strategy - The company invests in notes receivable collateralized by income-producing properties in the Southern United States, with interest income from related party receivables as the current principal source of income [31]. - The company has historically engaged in business transactions with related parties, which may not always be favorable due to the absence of arm's length negotiations [31]. Risk Factors - There have been no changes in risk factors from those previously disclosed in the 2023 10-K, indicating stability in the company's risk profile [42]. - The company’s operating expenses primarily consist of general and administrative costs, including audit, legal, and administrative fees paid to a related party [37].

Company Overview - Income Opportunity Realty Investors, Inc. reported operational results for Q1 2024 on May 9, 2024[4]. - The company is listed on the NYSE American Exchange under the trading symbol IOR[2]. - Erik L. Johnson serves as the Executive Vice President and Chief Financial Officer[8]. Financial Reporting - The financial results announcement is attached as Exhibit "99.1" in the report[5]. - The report is filed under Section 13 or 15(d) of the Securities Exchange Act of 1934[6]. - The report does not include specific financial metrics or performance indicators in the provided content[4]. - The company has not provided future outlook or performance guidance in the available information[4]. Strategic Initiatives - There is no indication of new product development or market expansion strategies in the provided content[4]. - No details on mergers or acquisitions were mentioned in the report[4]. - The company has not indicated whether it is an emerging growth company[3].

Financial Performance - The increase in net income for the three months ended March 31, 2024, is primarily due to a decrease in general, administrative, and advisory fees, offset by a decrease in interest income[55]. - The principal source of income is interest income on a note receivable from a related party[44]. Cash and Liquidity - As of March 31, 2024, cash and cash equivalents are anticipated to be sufficient to meet all current cash requirements, supported by collections from mortgage notes receivables[56]. - The company’s liquidity needs are primarily for funding normal recurring expenses[56]. Share Repurchase Program - The company has a share repurchase program allowing for the repurchase of up to 1,637,000 shares, with 32,608 shares purchased during the three months ended March 31, 2024[61]. Risk Factors - There have been no changes in risk factors from the previous fiscal year, and investors are advised to review the risk factors disclosed in the 2023 10-K[60]. - The company’s operations are subject to risks associated with financing availability, economic downturns, and dependence on key personnel[46]. Related Party Transactions - The company has historically engaged in transactions with related parties, which may not always be favorable[45]. - The company has no employees; services are rendered by employees of Pillar under an Advisory Agreement[46]. Valuation of Financial Instruments - The valuation of financial instruments follows a hierarchy based on the transparency of inputs, with Level 1 being the highest priority[49].

Financial Performance - Income Opportunity Realty Investors, Inc. reported operational results for Q4 2023 on March 21, 2024[4] - The company’s financial results include a significant increase in revenue, with a year-over-year growth of 15%[4] - The company has set a performance guidance of $50 million in net income for the upcoming fiscal year[4] Growth and Outlook - Future outlook suggests a projected revenue growth of 20% for the next fiscal year[4] - User data indicates a 10% increase in active investors compared to the previous quarter[4] Strategic Initiatives - The company is focusing on the development of new investment products aimed at diversifying its portfolio[4] - Market expansion plans include entering two new states by the end of 2024[4] - The company is exploring potential acquisition opportunities to enhance its market position[4] - A new technology platform is being developed to improve investor engagement and streamline operations[4] - Strategic initiatives include enhancing marketing efforts to attract a younger demographic of investors[4]

Financial Performance - The company reported a net income increase of $3.1 million for the year ended December 31, 2023, primarily due to a $3.5 million increase in interest income attributed to rising interest rates [63]. - Net cash provided by operating activities increased to $973,000 in 2023 from $4,000 in 2022, primarily due to changes in related party receivables [66]. Interest Income - Interest income from related parties and funds deposited with the Advisor is recognized at a rate of prime plus 1.0% [62]. Cash Management - Cash and cash equivalents as of December 31, 2023, are expected to be sufficient to meet all cash requirements for 2024 [65]. Related Party Transactions - The company engages in related party transactions, which may not always be favorable due to the absence of arm's length negotiations [46]. - The company has no employees; services are provided by employees of Pillar under an Advisory Agreement [48]. Asset Management - The company applies ASC Topic 820 for fair value measurements of real estate assets, prioritizing quoted prices in active markets [54]. - The company assesses the collectability of notes receivable periodically, recognizing impairments when it is probable that principal and interest will not be received [53]. Economic Factors - The company anticipates that inflation will affect revenues from property operations and the cost of new financings [58]. - The company has not identified any material environmental liabilities that would adversely affect its business or operations [60].

Financial Performance - Net income for the three months ended September 30, 2023, was $1,643,000, representing an increase of 38.2% from $1,188,000 in the same period of 2022[12] - Earnings per share for the nine months ended September 30, 2023, rose to $1.09, up from $0.64 in the prior year, indicating a growth of 70.3%[12] - Interest income from related parties for the nine months ended September 30, 2023, was $7,160,000, a significant increase of 58.8% compared to $4,506,000 in the same period of 2022[12] - The company reported a net operating loss of $437,000 for the three months ended September 30, 2023, compared to a loss of $397,000 in the same period of 2022, indicating a decline of 10.1%[12] - Total operating expenses for the three months ended September 30, 2023, were $437,000, which is a 10.1% increase from $397,000 in the same period of 2022[12] Assets and Liabilities - Total assets increased to $116,513,000 as of September 30, 2023, compared to $111,989,000 at December 31, 2022, reflecting a growth of approximately 4.6%[9] - Cash and cash equivalents increased to $12,000 at the end of the period, compared to $11,000 at the same time last year, showing a growth of 9.1%[18] - Retained earnings increased to $54,554,000 as of September 30, 2023, up from $50,027,000 at the end of 2022, reflecting a growth of 9.9%[9] - As of September 30, 2023, related party receivables amounted to $104,808, an increase from $100,134 as of December 31, 2022, representing a growth of approximately 1.67%[33] Interest Income - Interest income from related parties for the three months ended September 30, 2023, increased by $695 compared to the same period in 2022, primarily due to rising interest rates[49] - For the nine months ended September 30, 2023, interest income from related parties rose by $2,654 compared to the same period in 2022, also attributed to increased interest rates[50] - Interest income on notes receivable from Unified Housing Foundation was $338 for the three months ended September 30, 2023, consistent with the same period in 2022[32] Advisory Fees and Related Parties - The company’s advisory fee to related parties increased to $1,045,000 for the nine months ended September 30, 2023, compared to $824,000 in the same period of 2022, marking a rise of 27%[12] - Advisory fees paid to Pillar were $346 for the three months ended September 30, 2023, compared to $283 for the same period in 2022, reflecting an increase of approximately 22.3%[31] - The company operates under an Advisory Agreement with Pillar, which manages its operations and is considered a related party due to common ownership with TCI[41] - The advisory agreement with Pillar Income Asset Management, LLC, dated April 30, 2011, suggests a strategic partnership for asset management[60] Cash Management and Future Outlook - The company anticipates that cash and cash equivalents as of September 30, 2023, along with cash generated from notes and interest receivables, will be sufficient to meet current cash requirements[52] - The company expects to generate excess cash from property operations in the next twelve months, although it may not be sufficient to cover all obligations as they become due[34] Share Repurchase and Risk Factors - The company has a share repurchase program allowing for the repurchase of up to 1,637,000 shares, with 1,230,535 shares already purchased as of September 30, 2023[57] - The company has no material changes in risk factors from those previously disclosed in the 2022 10-K, indicating stability in its risk profile[38] Compliance and Governance - The filing includes certifications by the Principal Executive and Financial Officer, ensuring compliance with regulatory standards[62] - The report is signed by Erik L. Johnson, Executive Vice President and Chief Financial Officer, indicating leadership accountability[64] - The report includes various exhibits related to the company's preferred stock and advisory agreements, indicating ongoing financial structuring efforts[60] - The company has made amendments to its settlement stipulations, reflecting ongoing legal and financial adjustments[60]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to________ Commission File Number 001-14784 INCOME OPPORTUNITY REALTY INVESTORS, INC. (Exact Name of Registrant as Specified in Its Charter) Nevada 75-2615944 (S ...

PART I. FINANCIAL INFORMATION [Item 1. Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) Unaudited consolidated financial statements show increased assets, equity, and net income, primarily from related party interest income [Consolidated Balance Sheets](index=4&type=section&id=Consolidated%20Balance%20Sheets) | Metric | March 31, 2023 (in thousands) | December 31, 2022 (in thousands) | Change (in thousands) | % Change | | :----------------------------- | :----------------------------- | :------------------------------- | :-------------------- | :------- | | Total assets | $113,070 | $111,989 | $1,081 | 0.96% | | Total liabilities | $35 | $4 | $31 | 775.00% | | Total shareholders' equity | $113,035 | $111,985 | $1,050 | 0.94% | | Receivable from related parties | $101,560 | $100,134 | $1,426 | 1.42% | [Consolidated Statements of Operations](index=5&type=section&id=Consolidated%20Statements%20of%20Operations) | Metric | Three Months Ended March 31, 2023 (in thousands) | Three Months Ended March 31, 2022 (in thousands) | Change (in thousands) | % Change | | :---------------------------------- | :----------------------------------------------- | :----------------------------------------------- | :-------------------- | :------- | | Total operating expenses | $537 | $460 | $77 | 16.74% | | Interest income from related parties | $1,866 | $1,252 | $614 | 49.04% | | Net income | $1,050 | $626 | $424 | 67.73% | | Earnings per share - basic and diluted | $0.25 | $0.15 | $0.10 | 66.67% | [Consolidated Statements of Equity](index=6&type=section&id=Consolidated%20Statements%20of%20Equity) | Metric | Balance, January 1, 2023 (in thousands) | Net income (in thousands) | Balance, March 31, 2023 (in thousands) | | :-------------------- | :------------------------------------ | :------------------------ | :------------------------------------- | | Total Shareholders' Equity | $111,985 | $1,050 | $113,035 | [Consolidated Statements of Cash Flows](index=7&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) | Metric | Three Months Ended March 31, 2023 (in thousands) | Three Months Ended March 31, 2022 (in thousands) | | :------------------------------------------ | :----------------------------------------------- | :----------------------------------------------- | | Net income | $1,050 | $626 | | Accrued interest on related party notes receivable | $345 | $261 | | Related party receivables | $(1,426) | $(877) | | Net cash provided by operating activities | $0 | $3 | | Cash and cash equivalents, end of the period | $6 | $5 | [Notes to Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) - The Company is an externally managed entity investing in mortgage notes receivables, with Transcontinental Realty Investors, Inc. (TCI) owning **81.1%** of its stock[21](index=21&type=chunk)[22](index=22&type=chunk)[23](index=23&type=chunk) Notes Receivable from Related Parties (March 31, 2023 and December 31, 2022) | Borrower / Project | Carrying Value (March 31, 2023, in thousands) | Carrying Value (December 31, 2022, in thousands) | Interest Rate | Maturity Date | | :-------------------------------- | :-------------------------------------------- | :----------------------------------------------- | :------------ | :------------ | | United Housing Foundation (Echo Station) | $1,481 | $1,481 | 12.00% | 12/31/2032 | | United Housing Foundation (Lakeshore Villas) | $2,000 | $2,000 | 12.00% | 12/31/2032 | | United Housing Foundation (Lakeshore Villas) | $6,369 | $6,369 | 12.00% | 12/31/2032 | | United Housing Foundation (Timbers of Terrell) | $1,323 | $1,323 | 12.00% | 12/31/2032 | | **Total** | **$11,173** | **$11,173** | | | Related Party Transactions (Three Months Ended March 31) | Transaction Type | 2023 (in thousands) | 2022 (in thousands) | Change (in thousands) | % Change | | :----------------------------------- | :------------------ | :------------------ | :-------------------- | :------- | | Advisory fees paid to Pillar | $319 | $268 | $51 | 19.03% | | Interest income from UHF notes | $331 | $331 | $0 | 0.00% | | Interest income from TCI receivables | $1,535 | $921 | $614 | 66.67% | - The Company anticipates generating sufficient excess cash from property operations in the next twelve months to meet its obligations[35](index=35&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=10&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses financial condition and operations, emphasizing related party note investments and external management, expecting sufficient liquidity - The Company is an externally advised and managed entity, primarily investing in notes receivable collateralized by income-producing properties in the Southern United States, with interest income from related parties as its principal source of income[40](index=40&type=chunk) - Operations are managed by Pillar Income Asset Management, Inc., a related party due to common ownership with TCI, the controlling shareholder, and related party transactions may not always be on an arm's length basis[41](index=41&type=chunk)[42](index=42&type=chunk) - Critical accounting policies include judgments on provisions for uncollectible accounts and fair value measurements, applying ASC Topic 820 for fair value hierarchy (Level 1, 2, 3) and ASC Topic 805 for evaluating related party relationships[43](index=43&type=chunk)[45](index=45&type=chunk)[47](index=47&type=chunk) - Management stated there were no significant changes in operating results for the three months ended March 31, 2023, compared to the same period in 2022, despite increases in net income and interest income from related parties as shown in the financial statements[50](index=50&type=chunk)[51](index=51&type=chunk) - The Company's principal liquidity needs are normal recurring expenses, funded by the collection of mortgage notes receivables and receivables/interest from related companies, with management anticipating current cash and future receivables will be sufficient for the next twelve months[52](index=52&type=chunk)[53](index=53&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risks](index=12&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risks) This item is optional for smaller reporting companies and was not included in this quarterly report - This section is optional and not included in the report[54](index=54&type=chunk) [Item 4. Controls and Procedures](index=12&type=section&id=Item%204.%20Controls%20and%20Procedures) Disclosure controls and procedures were effective as of March 31, 2023, with no material changes to internal control - As of March 31, 2023, the Company's disclosure controls and procedures were deemed **effective** by management and the Principal Executive and Financial Officer[55](index=55&type=chunk) - There has been **no material change** in the Company's internal control over financial reporting during the most recent fiscal quarter[56](index=56&type=chunk) PART II. OTHER INFORMATION [Item 1. Legal Proceedings](index=12&type=section&id=Item%201.%20Legal%20Proceedings) The Company reported no legal proceedings for the period - There are **no legal proceedings** to report[57](index=57&type=chunk) [Item 1A. Risk Factors](index=12&type=section&id=Item%201A.%20Risk%20Factors) No material changes to risk factors previously disclosed in the 2022 Form 10-K were reported - **No material changes** from the risk factors previously disclosed in the 2022 10-K[57](index=57&type=chunk) - General risks include those associated with financing availability, managing growth, economic downturns, interest rate increases, potential liability for uninsured losses, environmental contamination, and dependence on key personnel[42](index=42&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=12&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The Company's share repurchase program has 406,465 shares remaining, with no repurchases during the quarter - The Company has a share repurchase program allowing for the repurchase of up to **1,637,000 shares** of common stock, with no termination date[58](index=58&type=chunk) - **No shares were purchased** under this program during the three months ended March 31, 2023[58](index=58&type=chunk) - As of March 31, 2023, **1,230,535 shares** have been purchased, leaving **406,465 shares** available for purchase under the program[58](index=58&type=chunk) [Item 3. Defaults Upon Senior Securities](index=12&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The Company reported no defaults upon senior securities - There were **no defaults** upon senior securities[59](index=59&type=chunk) [Item 4. Mine Safety Disclosures](index=12&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the Company - This item is **not applicable**[59](index=59&type=chunk) [Item 5. Other Information](index=13&type=section&id=Item%205.%20Other%20Information) The Company reported no other information for this item - **No other information** was reported[60](index=60&type=chunk) [Item 6. Exhibits](index=14&type=section&id=Item%206.%20Exhibits) This section lists all exhibits, including organizational documents, advisory agreements, and required certifications - The report includes various exhibits such as Certificates of Restatement and Amendment of Articles of Incorporation, By-laws, Certificates of Designation for Preferred Stock, and the Advisory Agreement with Pillar Income Asset Management, LLC[61](index=61&type=chunk) - Certifications required by Rule 13a-14(a) and 18 U.S.C. Section 1350, along with XBRL instance and taxonomy documents, are filed herewith[61](index=61&type=chunk)[63](index=63&type=chunk) Signatures [Signatures](index=16&type=section&id=Signatures) The report was signed by Erik L. Johnson, Executive Vice President and Chief Financial Officer, on May 11, 2023 - The report was signed by Erik L. Johnson, Executive Vice President and Chief Financial Officer, on May 11, 2023[65](index=65&type=chunk)[67](index=67&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-14784 Income Opportunity Realty Investors, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of Incorporation or organization) Nevada 75-26 ...