Business Context and Reporting Period
Company: Income Opportunity Realty Investors, Inc. (IOT)
Filing Type: Form 8-K (Current Report)
Date of Report: September 16, 2004
Reporting Period: Events occurring on September 16 and September 17, 2004.
Key Financial Metrics
This filing does not contain financial performance data. Revenue, profit, cash flow, margins, debt, and liquidity metrics are not reported in this document.
Material Changes
The filing reports significant changes in executive leadership under Item 5.02:
- Resignation: Ken L. Joines resigned as Executive Vice President and Chief Financial Officer effective September 16, 2004. He remains a member of the Board of Directors.
- Appointment: Robert Neil Crouch II was elected Executive Vice President and Chief Financial Officer effective September 17, 2004.
Management Commentary and Risks
New Officer Background: Mr. Crouch (52) has no prior relationship with IOT. His recent experience includes serving as Corporate Controller for Apptricity Corporation (2002–2004) and Attenza, Inc. (1999–2002). He has been a Certified Public Accountant since 1981.
Employment Terms: No employment agreement exists between the Registrant and Mr. Crouch at the time of this filing.
Risks/Contingencies: The filing does not disclose specific financial risks or contingencies beyond the standard transition of executive duties.
Investor Verification Checklist
- Verify the effective date of Mr. Crouch's appointment (September 17, 2004).
- Confirm the absence of a formal employment agreement for the new CFO.
- Review subsequent filings for the appointment of a new CFO if Mr. Crouch's tenure is short-lived or if further executive changes occur.
- Check the company's next periodic report (10-Q or 10-K) for financial performance data, as this 8-K contains none.