December 14, 2012
Securities and Exchange Commission
100 F Street, NW
Washington, D.C. 20549
Ironstone Group, Inc.
We have read the statements included under Item 4.01 of Form 8-KA to be filed by Ironstone Group, Inc. We agree with the statements made in response to that Item insofar as they relate to our Firm.
Very truly yours,
/s/ Madsen & Associates CPA's, Inc.
Madsen & Associates CPA's, Inc.
Murray, UT 84107