-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 QbAs8FbyUq2wfmai6pSBrSk0Lt6evsRtRn1xxTgud7fIzSw6dxoLM2mvzOJghh5T
 13xe3tdLPgxFPvm5LtwbbQ==

<SEC-DOCUMENT>0000950134-04-003364.txt : 20040312
<SEC-HEADER>0000950134-04-003364.hdr.sgml : 20040312
<ACCEPTANCE-DATETIME>20040312101140
ACCESSION NUMBER:		0000950134-04-003364
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040219
ITEM INFORMATION:		Other events
FILED AS OF DATE:		20040312

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INCOME OPPORTUNITY REALTY INVESTORS INC /TX/
		CENTRAL INDEX KEY:			0000949961
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				752615944
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14784
		FILM NUMBER:		04664386

	BUSINESS ADDRESS:	
		STREET 1:		1800 VALLEY VIEW LANE
		STREET 2:		SUITE 300
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75234
		BUSINESS PHONE:		4685224200

	MAIL ADDRESS:	
		STREET 1:		1800 VALLEY VIEW LANE
		STREET 2:		SUITE 300
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75234
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d13567e8vk.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<HEAD>
<TITLE>e8vk</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<HR size="4" noshade color="#000000" style="margin-top: -5px">
<HR size="1" noshade color="#000000" style="margin-top: -10px">





<P align="center" style="font-size: 14pt"><B>SECURITIES AND EXCHANGE COMMISSION</B>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<P align="center" style="font-size: 18pt"><B>FORM 8-K</B>

<P align="center" style="font-size: 12pt"><B>CURRENT REPORT</B>

<P align="center" style="font-size: 12pt"><B>Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934</B>


<P align="left" style="font-size: 10pt">Date of Report (Date of earliest event reported) February&nbsp;19, 2004


<P align="center" style="font-size: 24pt"><B>Income Opportunity Realty Investors, Inc.</B>

<DIV align="center" style="font-size: 10pt"><HR size="1" noshade width="100%" align="center">
(Exact name of registrant as specified in its charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Nevada
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">1-14784
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">75-2615944</TD>
</TR>

<TR valign="bottom">
    <TD colspan="5" valign="top"><DIV style="margin-left:0px; text-indent:-0px"><HR size="1" noshade width="100%" align="center"></DIV></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(State or other jurisdiction
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Commission
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">(IRS Employer</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">of Incorporation)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">File Number)
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">Identification No.)</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">1800 Valley View Lane, Suite&nbsp;300, Dallas, Texas 75234

<DIV align="center" style="font-size: 10pt"><HR size="1" noshade width="100%" align="center"></DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%"></TD>
    <TD width="5%"></TD>
    <TD width="47%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top">(Address of principal executive offices)
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">(Zip Code)</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>



<P align="left" style="font-size: 10pt">Registrant&#146;s telephone number, including area code 469-522-4200



<P align="center" style="font-size: 10pt"><HR size="1" noshade width="100%" align="center">

<DIV align="center" style="font-size: 10pt">(Former name or former address, if changed since last report)</DIV>



<P>
<HR size="1" noshade color="#000000" style="margin-top: -2px">
<HR size="4" noshade color="#000000" style="margin-top: -10px">






<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">





<!-- link2 "Item&nbsp;5. Other Events and Regulation&nbsp;FD Disclosure" -->
<DIV align="left"><A NAME="000"></A></DIV>

<P align="left" style="font-size: 10pt"><B>Item&nbsp;5. Other Events and Regulation&nbsp;FD Disclosure</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On February&nbsp;19, 2004, the Board of Directors increased the number of
directors from four to six and effective February&nbsp;20, 2004, elected David E.
Allard and Peter L. Larsen to fill the vacancies created by the increase. Both
David E. Allard and Peter L. Larsen are directors who are independent from the
Board of Directors and Management of the Registrant.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mr.&nbsp;Allard, age 45, is Executive Vice President of Internet America, Inc.,
a publicly-held Dallas, Texas internet service provider, where Mr.&nbsp;Allard, a
certified public accountant, is responsible for all operating functions,
including finance and administration. Internet America, Inc.&#146;s common stock is
traded under the symbol &#147;GEEK.&#148; Mr.&nbsp;Allard was employed in the accounting
industry from 1980 until 1992 when his employment added various operational
functions.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mr.&nbsp;Larsen, age 62, has been involved in the commercial real estate
industry since 1972. From 1996 through 2002, he was Senior Vice President of
Acquisitions of Tarragon Realty Investors, Inc., and its predecessors, a
publicly-held real estate entity, the common stock of which is traded on the
NASDAQ National Market. Since 1992, Mr.&nbsp;Larsen has also been a director of
four Texas non-profit corporations which own 545 apartment units and are
overseeing the development of a multi-million dollar retirement center in
Coppell, Texas.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Also, on February&nbsp;19, 2004, effective February&nbsp;20, 2004, the Board of
Directors formed a new Audit Committee, approved a charter for the Audit
Committee and selected David E. Allard and Peter L. Larson to initially
comprise the Audit Committee. The Board also determined that Mr.&nbsp;Allard meets
the qualifications of an &#147;audit committee financial expert,&#148; as such term is
defined by rules of the Securities and Exchange Commission.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On February&nbsp;29, 2004, Earl D. Cecil resigned as a director of the
Registrant. Mr.&nbsp;Cecil did not resign because of any disagreement with the
Registrant or any matter relating to Registrant&#146;s operations, policies or
practices, nor did Mr.&nbsp;Cecil furnish the Registrant with a letter describing
any disagreement or requesting that any matter be disclosed.


<P align="center" style="font-size: 10pt">-2-
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<!-- link1 "SIGNATURES" -->

<P align="center" style="font-size: 10pt"><B>SIGNATURES</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf of the
undersigned hereunto duly authorized.

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">Date: March 11, 2004&nbsp;</TD>
    <TD colspan="3">INCOME OPPORTUNITY REALTY INVESTORS, INC.<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">/s/ Ronald E. Kimbrough
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">Ronald E. Kimbrough, Executive&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">Vice President, Acting Principal
Executive Officer and Chief
Financial Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt">-3-
</DIV>

</BODY>
</HTML>

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
