收入机会房地产投资者有限公司 2025年季度报告

or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934 For the transition period from________ to________Commission File Number001-14784 INCOME OPPORTUNITY REALTY INVESTORS, INC.(Exact Name of Registrant as Specified in Its Charter) Nevada75-2615944(State or Other Jurisdiction ofIncorporation or Organization)(I.R.S. EmployerIdentification No.) (Address of principal executive offices) (Zip Code)(469)522-4200(Registrant’s telephone number, including area code)Securities registered pursuant to Section 12(b) of the Exchange Act:Title of each classTrading Symbol(s)Name of each exchange on which registeredCommon StockIORNYSEAmerican ExchangeIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted reporting company, or an emerging growth company in Rule 12b-2 of the Exchange Act.Large accelerated filer☐Acceleratedfiler☐Non-accelerated filer☒Smallerreportingcompany☒ (Unaudited) CommonStockTreasuryStockPaid-inCapitalRetainedEarningsShareholder Three Months Ended March 31, 2025Balance,January 1, 2025$42$(1,749)$61,955$61,679$Net income———989 Three Months Ended March 31, 2024Balance,January 1, 2024 Repurchase of common shares Balance,March 31, 2024$42$(1,534)$61,955$58,206$The accompanying notes are an integral part of these consolidated financial statements. Three Months EndedMarch 31, NetincomeAdjustments to reconcile net income to net cash provided by operating activities: Changes in assets and liabilities:Accrued interest on related party notes receivable73Related party receivables(920)Accounts payable5 Repurchase of common shares—Net cash used in financing activities—Net increase (decrease) in cash and cash equivalents147 Cash and cash equivalents, beginning of the periodCash and cash equivalents, end of the period The accompanying notes are an integral part of these consolidated financial statements. 1.OrganizationIncome Opportunity Investors, Inc. (the “Company”) is an externally managed company that currently holds investments in refer to the Company.Transcontinental Realty Investors, Inc. (“TCI”), whose common stock is traded on the NYSE under the symbol “TCI”, ownedapproximately84.0% of our stock at March31, 2025 and together with an affiliate owned approximately90.6% of our common stockat March31, 2025. Accordingly our financial results are included in the consolidated financial statements of TCI. American RealtyInvestors, Inc. (“ARL”), whose common stock is traded on the NYSE under the symbol “ARL”, in turn, owns approximately78.4% ofOur business is managed by Pillar Income Asset Management, Inc. (“Pillar”) in accordance with an Advisory Agreement that isreviewed annually by our Board of Directors. Pillar is considered to be a related party (See Note 4 – Related Party Transactions). The accompanying unaudited consolidated financial statements have been prepared in accordance with the instructions to Form10-Q and Article 10 of Regulation S-X. Certain information and footnote disclosures normally included in financial statementsprepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensedor omitted in accordance with such rules and regulations, although management believes the disclosures are adequate to prevent theinformation presented from being misleading. In the opinion of management, all adjustments (consisting of normal recurring matters)considered necessary for a fair presentation have been included.The consolidated balance sheet at December31, 2024 was derived from the audited consolidated financial statements at that date,but does not include all of the information and disclosures required by GAAP for complete financial statements. For furtherinformation, refer to the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the yearended December31, 2024.We consolidate entities in which we are considered to be the primary beneficiary of a variable interest entity (“VIE”) or have amajority of the voting interest of the entity. We have determined that we are a primary beneficiary of the VIE when we have (i) thepower to direct the activities of a VIE that most significantly impacts its economic performance, and (ii) the obligations to absorblosses or the right to receive benefits that could potentially be significant to the VIE. In determining whether we are the primarybeneficiary, we consider qualitative and quantitative factors, including ownership interest, management representation, ability to control decision and other contractual rights.We account for entities in which we have less than a controll