IOR Changes Certifying Accountant, Effective Jan 4, 2024
Ticker: IOR · Form: 8-K · Filed: Jan 12, 2024 · CIK: 949961
| Field | Detail |
|---|---|
| Company | Income Opportunity Realty Investors INC /Tx/ (IOR) |
| Form Type | 8-K |
| Filed Date | Jan 12, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: auditor-change, corporate-governance
TL;DR
**IOR just switched auditors, effective January 4, 2024.**
AI Summary
INCOME OPPORTUNITY REALTY INVESTORS, INC. (IOR) filed an 8-K on January 12, 2024, reporting a change in its certifying accountant, effective January 4, 2024. This filing indicates that the company is changing the independent accounting firm responsible for auditing its financial statements. For investors, this matters because a change in auditors can sometimes signal underlying issues or a desire for a fresh perspective, potentially impacting confidence in the company's financial reporting accuracy.
Why It Matters
A change in a company's auditor can sometimes raise questions about the reasons behind the switch, potentially affecting investor confidence in the reliability of future financial reports.
Risk Assessment
Risk Level: medium — While not inherently negative, a change in auditors can sometimes indicate disagreements or concerns, warranting closer scrutiny by investors.
Analyst Insight
A smart investor would monitor future filings, specifically the next 10-K or 10-Q, for details regarding the new certifying accountant and any disclosures about the reasons for the change, as this filing only states that a change occurred.
Key Players & Entities
- INCOME OPPORTUNITY REALTY INVESTORS, INC. (company) — the registrant filing the 8-K
- January 4, 2024 (date) — date of earliest event reported
- January 12, 2024 (date) — date the 8-K was filed
- 001-14784 (other) — Commission File No.
- 75-2615944 (other) — I.R.S. Employer Identification No.
- Nevada (other) — State of incorporation
- 1603 LBJ Freeway, Suite 800 Dallas, Texas 75234 (other) — Address of principal executive offices
- 469-522-4200 (other) — Registrant's telephone number
- IOR (other) — Trading Symbol
- NYSE American (other) — Exchange on which Common Stock is Registered
Forward-Looking Statements
- The company will disclose the identity of the new certifying accountant in a future filing or annual report. (INCOME OPPORTUNITY REALTY INVESTORS, INC.) — high confidence, target: 2024-03-31
- Investors will closely scrutinize the reasons for the auditor change once more details become available. (investors) — medium confidence, target: 2024-03-31
FAQ
What is the primary event reported in this 8-K filing by INCOME OPPORTUNITY REALTY INVESTORS, INC.?
The primary event reported in this 8-K filing is a 'Changes in Registrant's Certifying Accountant', as stated under 'ITEM INFORMATION'.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on January 4, 2024, as indicated by 'Date of Report (Date of earliest event reported): January 4, 2024'.
What is the trading symbol and the exchange where INCOME OPPORTUNITY REALTY INVESTORS, INC.'s common stock is registered?
The trading symbol for INCOME OPPORTUNITY REALTY INVESTORS, INC.'s common stock is IOR, and it is registered on the NYSE American exchange, as listed under 'Securities registered pursuant to Section 12(b) of the Act'.
What is the state of incorporation for INCOME OPPORTUNITY REALTY INVESTORS, INC.?
INCOME OPPORTUNITY REALTY INVESTORS, INC. is incorporated in Nevada, as stated in the filing: 'Nevada (State or other jurisdiction of incorporation)'.
What is the business address of INCOME OPPORTUNITY REALTY INVESTORS, INC.?
The business address of INCOME OPPORTUNITY REALTY INVESTORS, INC. is 1603 LBJ Freeway, Suite 800, Dallas, Texas 75234, as provided in the 'BUSINESS ADDRESS' section of the filing.
Filing Stats: 575 words · 2 min read · ~2 pages · Grade level 10.2 · Accepted 2024-01-12 15:16:20
Key Financial Figures
- $0.01 — ch Registered Common Stock, par value $0.01 IOR NYSE American Indicate by chec
Filing Documents
- g1112458k.htm (8-K) — 28KB
- 0001214659-24-000698.txt ( ) — 196KB
- ior-20240104.xsd (EX-101.SCH) — 3KB
- ior-20240104_lab.xml (EX-101.LAB) — 33KB
- ior-20240104_pre.xml (EX-101.PRE) — 22KB
- g1112458k_htm.xml (XML) — 3KB
01 Changes in Registrant's Certifying Accountant
Item 4.01 Changes in Registrant's Certifying Accountant . (b) Effective January 4, 2024, the Audit Committee of the Board of Directors of Income Opportunity Realty Investors, Inc. ("IOR" or the "Registrant" or the "Issuer") engaged the Plano, Texas firm of Farmer Fuqua & Huff P.C. as the Independent Registered Public Accountant to audit the IOR's financial statements for the fiscal year ending December 31, 2023 and any interim periods. During the Registrant's two most recent fiscal years and any subsequent interim period, the IOR did not consult with a Farmer Fuguq & Huff P.C. or any of its members about the application of accounting principles to any specified transaction or any other matter. The decision to engage new accountants was approved by the Audit Committee of the Board of Directors of IOR consisting of Messrs. Ted R. Munselle (Chairman), Robert A. Jakuszewski and Fernando Victor Lara Celis. The engagement effective January 4, 2024 of Farmer Fuqua & Huff P.C. as the new Independent Registered Public Accountant for IOR was necessitated by virtue of the notification on January 2, 2024 of Swalm & Associates P.C. that it was ceasing its services as Independent Registered Public Accountants for the Company, a decision due to the upcoming retirement of the principle, Edward S. Swalm, C.P.A..
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant is duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized. Dated: January 5, 2024. INCOME OPPORTUNITY REALTY INVESTORS, INC. By: /s/ Erik L. Johnson Erik L. Johnson, Executive Vice President and Chief Financial Officer