Business Context and Reporting Period
Company: Income Opportunity Realty Investors, Inc.
Filing Type: Form 8-K (Current Report)
Report Date: September 27, 2001
Event Date: September 27, 2001
The filing discloses a significant corporate action involving the repurchase and retirement of the company's own common stock.
Key Financial Metrics
This filing does not provide comprehensive financial statements (revenue, profit, cash flow, or debt). It reports specific transaction metrics related to the share repurchase:
- Shares Repurchased: 75,100 shares
- Total Purchase Price: $1,314,250
- Price Per Share: $17.50
- Shares Outstanding Post-Transaction: 1,438,945 shares
- Percentage of Prior Outstanding Shares: Approximately 4.96%
Material Changes
The primary material change is the reduction of the company's authorized and outstanding share count. The company retired the 75,100 shares immediately upon purchase, reducing the total outstanding shares to 1,438,945. This transaction represented a reduction of approximately 4.96% of the shares outstanding prior to the purchase.
Management Commentary and Risks
Transaction Nature: The purchase was executed as a single private block transaction.
Management Statement: The registrant explicitly stated that these purchases are not part of any other transaction or related to any other matter.
Risks/Contingencies: No specific risks or contingencies were disclosed in this filing beyond the standard disclosure of the share reduction.
Investor Verification Checklist
- Verify the impact of the 4.96% share reduction on earnings per share (EPS) in subsequent filings.
- Confirm the source of funds used for the $1,314,250 repurchase in the company's most recent 10-K or 10-Q.
- Check if this repurchase was part of a broader, undisclosed buyback program or a one-time event.
- Review the current market price of the stock relative to the $17.50 repurchase price to assess valuation at the time of the transaction.