Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
(c) Effective November 2, 2009, the Board of Directors of Income Opportunity Realty Investors, Inc. (the "Company" or the "Issuer" or "IOT") appointed Gene S. Bertcher to the additional position of Chief Financial Officer of the Company. Mr. Bertcher, age 60, is Executive Vice President (since February 2008) and Chief Accounting Officer (since May 2008) of the Company, Transcontinental Realty Investors, Inc. ("TCI") and American Realty Investors, Inc. ("ARL"). Prior thereto, from February 2008 to March 2008 he was also Executive Vice President and Interim Chief Financial Officer of the Company, TCI and ARL. Mr. Bertcher is (and will continue to be) President and Chief Financial Officer of New Concept Energy, Inc., a Nevada corporation ("GBR") which has its common stock listed on the American Stock Exchange ("AMEX"), a position he has occupied since November 2004. From January 3, 2003 until November 1, 2004, Mr. Bertcher was also Chief Executive Officer of GBR. He has been a Certified Public Accountant since 1973. Mr. Bertcher has been a director since June 1999 (and was from November 1989 to September 1996) of GBR. Until November 1989, Mr. Bertcher was a partner in Grant Thornton, LLP having served as the Chairman of its National Real Estate and Construction Committee.

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