Ironstone Group Inc (IRNS)

[db7]

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 “Retail OTC” and place the Company in the “Expert Trading” category of the OTC during September 2022, thereby reducing trading liquidity.

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On November 30, 2022 the Company renewed its’ 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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