db7
1 year ago
10k, excerpts:
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The Company has been unable to contract a PCAOB auditor for an examination of the 2022 and 2021 financial statements and records. The Company continues to search for an auditor.
Due to the Company not being able to secure an external audit, the SEC removed Ironstone Properties from โRetail OTCโ and place the Company in the โExpert Tradingโ category of the OTC during September 2022, thereby reducing trading liquidity.
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On November 30, 2022 the Company renewed itsโ note for five years, replacing the note issued April 1, 2012. The renewed terms are 7% interest rate, maturing November 30, 2027. The gross amounts payable under the agreement as of December 31, 2022 and December 31, 2021 was $2,603,214 and $2,329,510 respectively. As part of the note renewal, a warrant was issued to the lender to purchase 319,021 common shares at $2.04 per share. The warrant has a five year term, expiring November 30, 2027.
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db7
2 years ago
last friday 8k, doubled our holdings in Aristotle? "On May 9, 2022 the Ironstone Properties Board of Directors approved the purchase of 5,037 common shares of Aristotle, LLC, a privately held company at $19.853 per share from the personal holdings of Ironstone Properties Chairman of the Board of Directors William Mayer for a total of $100,000. William Mayer and CEO William Hambrecht abstained from voting. This transaction was executed on June 16, 2022. The sales price was determined using a company value of Aristotle at $150 million."
db7
2 years ago
8k, "On May 9, 2022 the Ironstone Properties Board of Directors approved the purchase of 5,037 common shares of Aristotle, LLC, a privately held company at $19.853 per share from the personal holdings of Ironstone Properties CEO and Board of Directors member William Hambrecht for a total of $100,000. Chairman of the Board William Mayer and William Hambrecht abstained from voting. This transaction was executed on June 9, 2022. The sales price was determined using a company value of Aristotle at $150 million."