Market Overview

Income Opportunity Realty Investors, Inc. Reports First Quarter 2017 Results

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Income Opportunity Realty Investors, Inc. (NYSE MKT: IOT), a
Dallas-based real estate investment company, today reported results of
operations for the first quarter ended March 31, 2017.

Our primary business is investing in real estate and mortgage note
receivables. Land held for development or sale is our sole operating
segment. The Company has invested in over 170 acres of land held for
development or sale in Farmers Branch, Texas. The project, in total, is
a 1,200 acre assembly of properties at the demographic center of the
Dallas – Fort Worth Metroplex. Surrounded by three major highways and
adjacent to current and future public transportation systems, the
project is in a prime location for future growth and development.

Revenues

We had net income of $737,000 or $0.18 per diluted earnings per share
for the three months ended March 31, 2017 compared to net income of
$893,000 or $0.21 per diluted earnings per share for the same period
ended 2016.

Land held subject to a sales contract is our sole operating segment.
There was no income generated from this segment for the three months
ended March 31, 2017, nor for the prior period ended 2016.

Expense

General and administrative expenses were $130,000 for the three months
ended March 31, 2017. This represents an increase of $37,000 compared to
the prior period general and administrative expenses of $93,000. This
increase was primarily due to an increase in the administration expense
paid to a related party.

Net income fee decreased $12,000 for the three months ended March 31,
2017 as compared to the prior period.

Advisory fees were $162,000 for the three months ended March 31, 2017.
This represents an increase of $9,000 compared to the prior period
advisory fees of $153,000.

Other income (expense)

Interest income was $1.1 million for the three months ended March 31,
2017. This represents a decrease of $119,000 compared to interest income
of $1.2 million for the three months ended March 31, 2016.

About Income Opportunity Realty Investors, Inc.

Income Opportunity Realty Investors, Inc., a Dallas-based real estate
investment company, holds a portfolio of equity real estate in Texas,
including undeveloped land. The Company invests in real estate through
direct equity ownership and partnerships. For more information, visit
the Company's website at www.incomeopp-realty.com.

 
 
INCOME OPPORTUNITY REALTY INVESTORS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
 
    For the Years Ended March 31,
  2017         2016  
(dollars in thousands, except per share amounts)
Revenues:
Rental and other property revenues $ - $ -
 
Expenses:
Property operating expenses (including $0 and $0 for the three
months ended 2017 and 2016, respectively, from related parties)
- -
General and administrative (including $54 and $43 for the three
months ended 2017 and 2016, respectively, from related parties)
130 93
Net income fee to related party 60 72
Advisory fee to related party   162     153  
Total operating expenses   352     318  
Net operating loss (352 ) (318 )
 
Other income (expenses):
Interest income from related parties 1,089 1,208
Other Income   -     3  
Total other income   1,089     1,211  
Income before taxes 737 893
Income tax expense   -     -  
Net income $ 737   $ 893  
 
Earnings per share - basic and diluted
Net income $ 0.18   $ 0.21  
 
Weighted average common shares used in computing earnings per share 4,168,214 4,168,214

 
INCOME OPPORTUNITY REALTY INVESTORS, INC.
CONSOLIDATED BALANCE SHEETS
(Unaudited)
 
    March 31,     December 31,
  2017     2016  
(dollars in thousands, except par value amount)
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