IRONSTONE GROUP INC (OTC:IRNS)
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IRONSTONE GROUP, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (unaudited)...
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This stock has been identified as a shell company.

IRONSTONE GROUP, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

 

 

 

   

Year ended December 31,

  
   

2013

    

2012

  
                 

Operating (income) expenses:

                

Professional fees

   $ 41,408     $ 37,386  

State filing fee

     21,562       2,721  

Amortization

     5,560       4,214  

Stock-based compensation

     10,326        -  

General and administrative expenses

     964       974  

Other expense

     (32,836 )     -  

Total operating expenses

     46,984       45,295  
                 

Loss from operations

     (46,984 )     (45,295 )
                 

Other expense:

               

Interest expense

     (112,643 )     (94,113 )

Interest expense to related party

    (10,120 )     (1,984 )
                 
                 

Net loss

   $ (169,747 )   $ (141,392 )
                 
                 

COMPREHENSIVE INCOME (LOSS), NET OF TAX:

                

Net loss

   $ (169,747 )   $ (141,392 )

Unrealized holding gain arising during the year

     1,830,518       37,700  
                 

Comprehensive income (loss)

   $ 1,660,771     $ (103,692 )
                 
                 
                 

Basic and diluted loss per share:

                

Net loss per share

   $ (0.09 )   $ (0.09 )

Weighted-average shares used in per share computation

     1,872,964       1,594,885  

Management Discussion and Analysis

RESULTS OF OPERATIONS

Year ended December 31, 2013

Operating expenses for 2013 totaled $46,984, an increase of $1,689 or 3.7% as compared to 2012. The increase was primarily due to an increase in professional fees of $4,021, state taxes of $18,841, and stock compensation expense of $10,326. Interest expense for fiscal year 2013 totaled $122,763, an increase of $26,666 or 27.8% as compared to fiscal year 2012. The increase was due to an increase in borrowings.

Last updated April 15, 2014


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