Ironstone Properties, Inc. focuses on disruptive investment opportunities in technology sectors but faces challenges due to limited operational activity and liquidity.

# Ironstone Properties, Inc. Overview

## Company Background
- **Name**: Ironstone Properties, Inc. (formerly Ironstone Group, Inc.)
- **Incorporation Year**: 1972
- **Ownership**: Majority owned by Hambrecht & Quist Group since 1986; repurchased shares in September 2003, now held as treasury stock.
- **CEO**: William R. Hambrecht, who owns approximately 49.8% of the voting shares as of December 31, 2024.
- **Name Change**: Rebranded from Ironstone Group, Inc. to Ironstone Properties, Inc. in September 2021.

## Business Strategy
Ironstone focuses on pursuing disruptive business opportunities across various technology sectors. As of December 31, 2024, the company's financials were as follows:
- **Cash**: $26,174
- **Non-marketable Investments**: $3,161,359
- **Marketable Securities**: $0

Despite these efforts, the company recognizes the risk of failure to acquire businesses or expand services, which could negatively impact operational results.

## Employees
- **Total Employees**: 1 part-time contract employee.
- **Compensation**:
  - 2024: $5,539
  - 2023: $8,126
- **Collective Bargaining**: The employee is not part of a collective bargaining agreement.

## Risk Factors
- **Investments**: Main assets consist of non-marketable securities in TangoMe Inc., Buoy Health, Inc., and Aristotle Inc.
- **Audit Issues**: The company has been unable to engage a PCAOB auditor for financial examinations since 2022, leading to its removal from the "Retail OTC" to the "Expert Trading" category by the SEC, which has reduced trading liquidity.

## Cybersecurity Management
Ironstone has implemented basic cybersecurity measures appropriate for its size:
- **User Access Reviews**: Conducted regularly.
- **Security Measures**: Include strong password requirements, multi-factor authentication, routine data backups, installation of antivirus software, and timely security updates.
- **External IT Support**: Engaged as needed for cybersecurity matters.

## Properties
- **Headquarters Location**: 909 Montgomery Street, San Francisco, California 94133 (leased office space from WR Hambrecht+Co., LLC).

## Financial Performance (as of December 31, 2024)
- Specific figures for revenue and income are not provided in the document, but it indicates cash and investments without explicit revenue details. The operational footprint remains limited with one contract employee, suggesting a potential focus on strategic investment rather than extensive operational activity.

## Summary
Ironstone Properties, Inc. engages in investment opportunities within technology sectors. With minimal staff and limited financial resources, the company faces challenges in auditing and market liquidity. Its cybersecurity measures are basic, reflecting its small operational scale.

Ironstone Properties, Inc. is a Delaware corporation focused on investments, facing challenges due to limited operational activities and a lack of revenue.

# Summary of Ironstone Properties, Inc.

## Company Overview
Ironstone Properties, Inc. (formerly Ironstone Group, Inc.) is a Delaware corporation primarily focused on investments. The company was incorporated in 1972 and has undergone significant changes in ownership and branding over the years. As of September 2021, it adopted the name Ironstone Properties, Inc. 

## Ownership
- As of December 31, 2023, approximately **49.8%** of Ironstone’s outstanding voting shares are owned by **William R. Hambrecht**, who serves as Director and Chief Executive Officer.
- **Hambrecht & Quist Group** (H&Q), a San Francisco-based investment banking and venture capital firm, was the majority shareholder until the company repurchased its shares in September 2003. These shares are currently held as treasury stock.

## Current Financial Status
- As of December 31, 2023:
  - **Marketable Securities**: $859
  - **Cash**: $0
  - **Non-marketable Investments**: $2,806,867
  
The company does not generate significant cash flow now due to lack of operations and is actively exploring new business opportunities.

## Employees
- Ironstone had **one part-time contract employee** as of December 31, 2023.
  - Compensation for the contract employee: 
    - **2023**: $8,126
    - **2022**: $17,732
- The company does not have any employees under a collective bargaining agreement.

## Business Strategy
Ironstone Properties is currently engaged in a review of options and new business opportunities but has not yet expanded its services or acquired new businesses. The company faces risks such as the inability to secure external audits, which has led to a decline in trading liquidity.

## Customers and Revenue
- The company does not report any customer base, revenue, or income figures, indicating a lack of ongoing business operations or revenue-generating activities.

## Risk Factors
- The principal assets of Ironstone are investments in non-marketable securities from companies like **TangoMe Inc., Buoy Health, and Aristotle Inc.**, along with marketable securities of **Arcimoto Inc.**
- The absence of a market for these investments poses a risk to the company’s financial stability.
- The company is also actively seeking a PCAOB auditor after being unable to contract one for the 2023 and 2022 financial statements, impacting compliance and reporting status. 

## Conclusion
Ironstone Properties, Inc. is a company with limited operational activities, heavily reliant on its investment portfolio. It faces challenges due to a lack of cash flow, ongoing search for an auditor, and reduced trading liquidity. The company’s future relies on its ability to explore and capitalize on new business opportunities.

IRONSTONE PROPERTIES, INC.

10-K / April 16, 2025

10-K / September 19, 2024

10-K / April 16, 2025

Ironstone Properties, Inc. Overview

Company Background

Business Strategy

Employees

Risk Factors

Cybersecurity Management

Properties

Financial Performance (as of December 31, 2024)

Summary