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<META NAME="_AdHocReviewCycleID" CONTENT="-1836788040">


<META NAME="_EmailSubject" CONTENT="Form 8-K">


<META NAME="_AuthorEmail" CONTENT="aglendinning@pmklaw.com">


<META NAME="_AuthorEmailDisplayName" CONTENT="Glendinning, Ashley">


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<P ALIGN="JUSTIFY">&#9;<B><FONT SIZE=4>SECURITIES AND EXCHANGE COMMISSION</P>


<P ALIGN="JUSTIFY">&#9;Washington, D.C. 20549</P>


</B></FONT><P ALIGN="JUSTIFY"></P>


<P ALIGN="JUSTIFY">&#9;<B><FONT SIZE=5>FORM 8-K</P>


</B></FONT><P ALIGN="JUSTIFY"></P>


<P ALIGN="JUSTIFY">&#9;<B><FONT SIZE=4>CURRENT REPORT</P>


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<P ALIGN="JUSTIFY">&#9;<B>Pursuant to Section 13 or 15(d) of the Securities Exchange Act</P>


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<P ALIGN="JUSTIFY">&#9;Date of Report: May 10, 2005</P>


<P ALIGN="JUSTIFY">&#9;<FONT SIZE=2>(Date of Earliest Event Reported)</P>


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<P ALIGN="JUSTIFY">&nbsp;</P>


<P ALIGN="JUSTIFY">&#9;<B><FONT SIZE=5>INCOME OPPORTUNITY REALTY INVESTORS, INC.</P>


</B></FONT><P ALIGN="JUSTIFY">&#9;<FONT SIZE=2>(Exact Name of Registrant as Specified in its Charter)</P>


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<P>&nbsp;</P>


<P>&#9;<B>Nevada</B></TD>


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<P>&#9;<B>1-14784</B></TD>


<TD WIDTH="33%" VALIGN="TOP">





<P>&#9;<B>75-2615944</B></TD>


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<FONT SIZE=2><P ALIGN="CENTER">(State or other </P>


<P ALIGN="CENTER">jurisdiction of incorporation)</FONT></TD>


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<FONT SIZE=2><P ALIGN="CENTER">(Commission</P>


<P ALIGN="CENTER">File No.)</FONT></TD>


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<FONT SIZE=2><P ALIGN="CENTER">(I.R.S. Employer</P>


<P ALIGN="CENTER">Identification No.)</FONT></TD>


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<P ALIGN="JUSTIFY">&nbsp;</P>


<P ALIGN="JUSTIFY">&#9;<B>1755 Wittington Place, Suite 340</P>


<P ALIGN="JUSTIFY">&#9;Dallas, Texas 75234</P>


</B><P ALIGN="JUSTIFY">&#9;<FONT SIZE=2>(Address of principal executive offices)</P>


</FONT><P ALIGN="JUSTIFY"></P>


<P ALIGN="JUSTIFY">&nbsp;</P>


<P ALIGN="JUSTIFY">&#9;<B>214-750-5800</P>


</B><P ALIGN="JUSTIFY">&#9;<FONT SIZE=2>(Registrant<FONT FACE="WP TypographicSymbols">&#61;</FONT>


s telephone number, including area code)</P>


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<P ALIGN="JUSTIFY">&nbsp;</P>


<P ALIGN="JUSTIFY">&nbsp;</P>


<FONT SIZE=2><P ALIGN="JUSTIFY">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:</P>


<P ALIGN="JUSTIFY"></P><DIR>


<DIR>


<DIR>





</FONT><P ALIGN="JUSTIFY"><FONT FACE="WP TypographicSymbols">&#71;</FONT>


<FONT SIZE=2>&#9;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>


</FONT><P ALIGN="JUSTIFY"><FONT FACE="WP TypographicSymbols">&#71;</FONT>


<FONT SIZE=2>&#9;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>


</FONT><P ALIGN="JUSTIFY"><FONT FACE="WP TypographicSymbols">&#71;</FONT>


<FONT SIZE=2>&#9;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>


</FONT><P ALIGN="JUSTIFY"><FONT FACE="WP TypographicSymbols">&#71;</FONT>


<FONT SIZE=2>&#9;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P></DIR>


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</FONT><B><P ALIGN="JUSTIFY">Section 2 <FONT FACE="WP TypographicSymbols">&#66;</FONT>


 Financial Information</P>


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<P ALIGN="JUSTIFY">Item 2.02.  Results of Operations and Financial Condition</P>


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<P ALIGN="JUSTIFY">On May 13, 2005, Income Opportunity Realty Investors, Inc. (<FONT FACE="WP TypographicSymbols">&#65;</FONT>


IOT<FONT FACE="WP TypographicSymbols">&#64;</FONT>


 or the <FONT FACE="WP TypographicSymbols">&#65;</FONT>


Company<FONT FACE="WP TypographicSymbols">&#64;</FONT>


) announced its operational results for the first quarter of 2005.  A copy of the announcement is attached as Exhibit <FONT FACE="WP TypographicSymbols">&#65;</FONT>


99.1.<FONT FACE="WP TypographicSymbols">&#64;</FONT>


</P>


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<P ALIGN="JUSTIFY">The information furnished pursuant to Item 2.02 in this Form 8-K, including Exhibit <FONT FACE="WP TypographicSymbols">&#65;</FONT>


99.1<FONT FACE="WP TypographicSymbols">&#64;</FONT>


 attached hereto, shall not be deemed to be <FONT FACE="WP TypographicSymbols">&#65;</FONT>


filed<FONT FACE="WP TypographicSymbols">&#64;</FONT>


 for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that Section, unless we specifically incorporate it by reference in a document filed under the Securities Act of 1933 or the Securities Exchange Act of 1934.  We undertake no duty or obligation to publicly-update or revise the information furnished pursuant to Item 2.02 of this Current Report on Form 8-K.</P>


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<B><P ALIGN="JUSTIFY">Section 8 <FONT FACE="WP TypographicSymbols">&#66;</FONT>


 Other Events</P>


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<P ALIGN="JUSTIFY">Item 8.01.  Other Events</P>


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</B><P ALIGN="JUSTIFY">On May 10, 2005, the Board of Directors of the Company approved a 3-for-1 forward split of the Common Stock with a record date of June 10, 2005.  The forward split will entitle stockholders to receive two additional newly-issued shares of Common Stock for each share of Common Stock held as of the record date.  Certificates for the new shares will be mailed to stockholders on or about June 14, 2005.</P>


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<B><P ALIGN="JUSTIFY">Section 9 <FONT FACE="WP TypographicSymbols">&#66;</FONT>


 Financial Statements and Exhibits</P>


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<P ALIGN="JUSTIFY">Item 9.01.  Financial Statements and Exhibits</P>


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<FONT FACE="Shruti,Georgia"><P ALIGN="JUSTIFY">(c)&#9;Exhibits.</P>


</FONT><P ALIGN="JUSTIFY"></P></DIR>


</DIR>


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<FONT FACE="Shruti,Georgia"><P ALIGN="JUSTIFY">The following exhibit is furnished with this Report:</P>


</FONT><P ALIGN="JUSTIFY"></P>


<P ALIGN="CENTER"><CENTER><TABLE BORDER CELLSPACING=1 BORDERCOLOR="#ffffff" CELLPADDING=8 WIDTH=623>


<TR><TD WIDTH="20%" VALIGN="MIDDLE">


<P>&nbsp;</P>


<B><P ALIGN="CENTER">Exhibit Designation</B></TD>


<TD WIDTH="80%" VALIGN="TOP">





<P>&nbsp;</P>


<P>&#9;<B>Description of Exhibit</B></TD>


</TR>


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<P>&#9;99.1*</TD>


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<P ALIGN="JUSTIFY">Press Release dated May 13, 2005.</TD>


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<P>_____________________</P>


<P>*Furnished herewith.</TD>


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</TABLE>


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<P ALIGN="JUSTIFY">&#9;<B>SIGNATURES</P>


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<P ALIGN="JUSTIFY">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly-caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly-authorized.</P>


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<P ALIGN="JUSTIFY">Dated: May 13, 2005.&#9;&#9;&#9;&#9;INCOME OPPORTUNITY REALTY </P>


<P ALIGN="JUSTIFY">INVESTORS, INC.</P>


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<P ALIGN="JUSTIFY">&nbsp;</P>


<P ALIGN="JUSTIFY">/s/ Robert N. Crouch II</P>


<P ALIGN="JUSTIFY">By: <U>&#9;</P><DIR>


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</U><P ALIGN="JUSTIFY">Robert N. Crouch II, Executive Vice</P></DIR>


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<P ALIGN="JUSTIFY">President, Chief Financial Officer and</P>


<P ALIGN="JUSTIFY">Acting Principal Executive Officer</P>


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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act
Date of Report: May 10, 2005
(Date of Earliest Event Reported)
INCOME OPPORTUNITY REALTY INVESTORS, INC.
(Exact Name of Registrant as Specified in its Charter)
Nevada
1-14784
75-2615944
(State or other
jurisdiction of incorporation)
(Commission
File No.)
(I.R.S. Employer
Identification No.)
1755 Wittington Place, Suite 340
Dallas, Texas 75234
(Address of principal executive offices)
214-750-5800
(Registrant
=
s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:
G
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
G
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
G
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
G
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Section 2
B
Financial Information
Item 2.02.  Results of Operations and Financial Condition
On May 13, 2005, Income Opportunity Realty Investors, Inc. (
A
IOT
@
or the
A
Company
@
) announced its operational results for the first quarter of 2005.  A copy of the announcement is attached as Exhibit
A
99.1.
@
The information furnished pursuant to Item 2.02 in this Form 8-K, including Exhibit
A
99.1
@
attached hereto, shall not be deemed to be
A
filed
@
for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that Section, unless we specifically incorporate it by reference in a document filed under the Securities Act of 1933 or the Securities Exchange Act of 1934.  We undertake no duty or obligation to publicly-update or revise the information furnished pursuant to Item 2.02 of this Current Report on Form 8-K.
Section 8
B
Other Events
Item 8.01.  Other Events
On May 10, 2005, the Board of Directors of the Company approved a 3-for-1 forward split of the Common Stock with a record date of June 10, 2005.  The forward split will entitle stockholders to receive two additional newly-issued shares of Common Stock for each share of Common Stock held as of the record date.  Certificates for the new shares will be mailed to stockholders on or about June 14, 2005.
Section 9
B
Financial Statements and Exhibits
Item 9.01.  Financial Statements and Exhibits
(c)	Exhibits.
The following exhibit is furnished with this Report:
Exhibit Designation
Description of Exhibit
99.1*
Press Release dated May 13, 2005.
_____________________
*Furnished herewith.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly-caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly-authorized.
Dated: May 13, 2005.				INCOME OPPORTUNITY REALTY
INVESTORS, INC.
/s/ Robert N. Crouch II
By:
Robert N. Crouch II, Executive Vice
President, Chief Financial Officer and
Acting Principal Executive Officer