Significant Accounting Policies (Policies)

12 Months Ended

Sep. 30, 2025

Revenue from Contracts with Customers [Policy Text Block]

Revenue from Contracts with Customers

The Company recognizes revenue in accordance with Accounting Standards Codification ("ASC") 606, which requires the recognition of revenue when promised goods or services are transferred to customers in an amount that reflects the consideration to which an entity expects to be entitled in exchange for those goods or services.

The Company's revenue primarily consists of RV camping site rentals, RV storage fees, RV towing services, retail sales through the general store, and rent payments under property leases. Revenue is recognized as performance obligations are satisfied in each of its revenue streams, as follows:

RV camping site rentals are recognized daily at the rate paid by the guest for each day that a guest occupies the RV camp site,
RV storage fees are recognized ratably over the time-period that the RV is stored, based upon the monthly rate paid for the storage,
RV towing services are considered distinct from RV storage and are recognized at the rate paid for each tow when trailers are towed,
Retail store and RV part sales are recognized at the price paid when goods are delivered to the guest, and
Other ancillary services, such as fees for recreation activities, are purchased independently at standalone selling prices and are considered separate performance obligations, which are recognized as revenue when the related good or service is provided to the resort guest.

The revenue recognition rules under ASC 606 specifically exclude rental revenue. Rent payments under property leases are recognized in accordance with Leases (Topic 842) ("ASC 842".) See further discussion of leases later in this footnote.

Disaggregated Revenue

The following table summarizes disaggregated revenue totals and percentages of total income for the years ended September 30, 2025 and 2024:

		Year ended September 30,
		2025			2024
RV camping site rentals	$	6,881,000	69%	$	6,671,000	69%
RV storage and towing fees		2,013,000	20%		1,896,000	19%
Retail store sales		735,000	7%		734,000	8%
Property lease income		230,000	2%		236,000	2%
Other ancillary services		223,000	2%		190,000	2%
	$	10,082,000	100%	$	9,727,000	100%

Customer Deposits

Guests reserving camping sites must pay in advance. In addition, RV storage fees are billed annually or monthly in advance, and tow services are pre-paid when the towing reservation is made.

The Company records a deferred revenue contract liability equal to the amounts that guests pay in advance for site reservations, storage fees and tow services ("Customer deposits"), and then recognizes the revenue when the guest stays at the resort, in the periods when the RV is stored, or in the period when the tow services are completed, respectively. Customer deposits are generally recognized as revenue within twelve months of receipt. The Company does not disclose the value of unsatisfied performance obligations for contracts with an expected length of one year or less.

Cash payments received in advance of guests staying at the resort are refunded to guests if the guest cancels within the specified time-period, before any services are rendered. Due to the nature of the business, the Company's revenue is not significantly impacted by refunds.

As of October 1, 2024 and 2023, the portion of resort operations revenue that was included in customer deposits was $2,310,000 and $2,084,000, respectively.

Tourism Taxes

Sales taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction, and that are collected by the Company from a customer to be remitted to the governmental authority, are excluded from revenue.

As of September 30, 2025 and 2024, the Company had $82,000 and $80,000, respectively, in Transient Occupancy Taxes (TOT) and Tourism Business Improvement District (TBID) assessments due to the City of Pismo Beach and the County of San Luis Obispo, which have been excluded from revenue and are included in accrued expenses on the balance sheet.

Allowance for Credit Losses [Policy Text Block]

Allowance for Credit Losses

The Company accounts for credit losses under Accounting Standards Update ("ASU") 2016-13, Financial Instruments - Credit Losses (Topic 326), which requires the Company to recognize an estimate of expected credit losses as an allowance on financial instruments. The Company is exposed to credit losses on storage fees that are billed to customers and maintains allowances for estimated losses resulting from the inability of our customers to make required payments. If a previously billed storage fee is deemed to be uncollectible, it is charged-off against the allowance for credit losses.

The Company's expected loss allowance methodology is developed considering historical collection experience, current and future economic and market conditions, and a review of the current status of customers' receivables. Due to the short-term nature of such receivables, the estimate of the amount of accounts receivable that may not be collected is based on an aging of the accounts receivable balances and the financial condition of customers. Estimates may change based on changing circumstances, including changes in the economy or in the circumstances of individual customers. Specific allowance amounts are established to record the appropriate provision for customers that have a higher probability of default.

The Allowance for credit losses at September 30, 2025 and 2024 totaled $29,000 and $20,000, respectively. The provision for expected credit losses for the years ended September 30, 2025 and 2024 totaled $9,000 and $5,000, respectively, and was recorded as an operating expense. The Company adopted ASU 2016-13 effective October 1, 2023 and recorded an initial $15,000 allowance for credit losses as a cumulative adjustment to retained earnings on October 1, 2023. As of October 1, 2023, the balance of accounts receivable, net of allowance for credit losses was $56,000. Refer to "Recently Adopted Accounting Pronouncements" later in this footnote for further information.

Cash and Cash Equivalents [Policy Text Block]

Cash and Cash Equivalents

The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. As of September 30, 2025 and 2024, the Company had $13,283,000 and $10,786,000 of cash and cash equivalents, respectively.

Cash Reserved for Capital Improvements and Deferred Maintenance [Policy Text Block]

Cash Reserved for Capital Improvements and Deferred Maintenance

The Company keeps separate funds reserved for capital improvements and deferred maintenance. Historically, the Company has not carried a high amount of debt. This separate reserve is kept in order to self-finance major capital improvements and to have cash available if needed.

Concentration of Credit Risk [Policy Text Block]

Concentration of Credit Risk

The Company maintains its cash at several commercial banks in the United States and has significantly more cash and cash equivalents than would be covered by FDIC insurance with one bank. To ensure that cash remains protected by FDIC insurance, the Company has placed its Cash Reserved for Capital Improvements and Deferred Maintenance in a Certificate of Deposit Account Registry Service ("CDARS") account. By using a CDARS account, the Company's large deposits are divided into smaller amounts and placed with multiple FDIC insured banks that are members of the CDARS network. Each member bank issues CDs in amounts under $250,000, so that the entire deposit balance is eligible for FDIC insurance.

The Company keeps day-to-day operating cash with a single bank in a non-CDARS account. Due to large fluctuations in operating cash, there may be times when the amount of operating cash is above the $250,000 FDIC threshold. At September 30, 2025 and 2024 the operating account balance was fully insured because it was less than the FDIC threshold.

Investments [Policy Text Block]

Investments

Investments in securities have been classified in the balance sheet according to management's intent, as securities available-for-sale. Available-for-sale securities consist of investment securities not classified as trading securities nor as held-to-maturity securities.

Unrealized holding gains and losses, net of deferred taxes, on available-for-sale securities are reported as a net amount in a separate component of stockholders' equity until realized. Gains and losses on the sale of available-for-sale securities are determined using the specific identification method.

Fair Value Measurements [Policy Text Block]

Fair Value Measurements

Our financial assets and liabilities consist principally of cash, cash equivalents, investments, accounts receivable, accounts payable, and rental deposits, and are reported at fair value. Fair value is determined using a three-tier hierarchy, which prioritizes the inputs used to determine fair value.

Level 1: Observable inputs that reflect quoted prices for identical assets or liabilities in active markets.

Level 2: Inputs that reflect quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data.

Level 3: Unobservable inputs to the extent that observable inputs are not available for the asset or liability at the measurement date.

The estimated fair value of cash, cash equivalents, accounts receivable, accounts payable and rental deposits approximates their carrying value. The estimated fair value of our investments is based upon quoted market prices using Level 1 input.

The fair value of US treasury instruments as of September 30, 2024 was $1,098,000. During the fiscal year ended September 30, 2025, management changed the tenure of investments such that they now qualify as cash equivalents. There were no transfers between levels of the fair value hierarchy during the year ended September 30, 2025.

Inventories [Policy Text Block]

Inventories

Inventories are comprised of products in the general store. Inventories have been valued at the lower of cost or net realizable value on a first-in, first-out basis.

Prepaid Expenses [Policy Text Block]

Prepaid Expenses

Prepaid expenses primarily relate to commercial insurance, which is paid annually in advance and is recorded as an expense during the time periods covered by the insurance.

Property and Equipment, net [Policy Text Block]

Property and Equipment, net

Property and equipment are recorded at cost, less accumulated depreciation in accordance with ASC 360, Property, Plant and Equipment. Depreciation is computed using the straight-line method based on the estimated useful lives of the related assets. Depreciation rates are based upon the following estimated useful lives:

Building and resort improvements	5 to 40 years
Furniture, fixtures and equipment	5 to 15 years
Transportation equipment	5 to 7 years

Assets under finance lease are amortized over the lesser of the lease term or the useful life of the assets.

Repairs and maintenance are charged to expense as incurred. Costs of significant improvement projects, which extend the useful lives of existing property or equipment are capitalized and depreciated over the remaining estimated useful life of the asset. The cost of assets sold or retired, along with the related accumulated depreciation, are removed from the accounts and any resulting gain or loss is included other income and expense.

The Company reviews property and equipment for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable based upon estimated future cash flows. The process of evaluating impairment requires estimates as to future events and conditions, which are subject to varying market and economic factors. Therefore, it is reasonably possible that a change in estimate resulting from judgments as to future events could occur which would affect the recorded amounts of the property. No impairment losses were recorded for the years ended September 30, 2025 and 2024.

Advertising [Policy Text Block]

Advertising

Advertising costs are expensed as incurred and are included in operating expenses. Advertising expenses were $33,000 and $61,000 for the years ended September 30, 2025 and 2024, respectively.

Income Taxes [Policy Text Block]

Income Taxes

The Company uses the asset-liability method of computing deferred income taxes in accordance with Accounting Standards Codification 740 ("ASC 740"), which requires, among other things, that the company recognize deferred income tax assets and liabilities based on differences between the financial statement and tax basis of assets and liabilities at the current enacted tax rates. In addition, ASC 740 requires that if income is expected for the entire year, but there is a net loss to date, a tax benefit is recognized based on the annual effective tax rate. Changes in deferred income tax assets and liabilities are included as a component of income tax expense.

ASC 740 also requires the recognition and measurement of uncertain tax positions based on a "more likely than not" (likelihood greater than 50%) approach. As of September 30, 2025 and 2024, management considered its tax positions and concluded that the Company did not maintain any uncertain tax positions under this approach and, accordingly, all tax positions have been fully recorded in the provision for income taxes.

Tax returns remain subject to examination by the Internal Revenue Service for fiscal years ending on or after September 30, 2020, and by the California Franchise Tax Board for fiscal years ending on or after September 30, 2019.

Comprehensive Income [Policy Text Block]

Comprehensive Income

Comprehensive income is comprised of net income and other comprehensive income. Other comprehensive income consists of unearned gain on investments. Other comprehensive income is recorded as a component of stockholders' equity and is excluded from net income.

Earnings per share [Policy Text Block]

Earnings per share

Basic net income (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding. The computation of diluted net income per share is similar to the computation of basic net income per share except that the weighted-average number of common shares is increased to include the number of additional common shares that would have been outstanding if potential dilutive common shares had been issued. The basic and diluted earnings per share are the same for the fiscal years ended September 30, 2025 and 2024 because the Company had no additional potentially dilutive common shares.

Leases [Policy Text Block]

Leases

The Company accounts for leases under ASU 842, which requires the Company to evaluate contracts to determine if they contain a lease, and then classify leases as operating, sales-type or direct finance leases for financial reporting purposes, beginning at the lease commencement date.

The Company has elected to account for short-term leases, those with a lease term of 12 months or less, by recognizing lease payments in profit and loss on a straight-line basis over the term of the lease, and variable lease payments in the period in which the obligation for the payments is incurred.

Lessee

The Company is a lessee in a variety of lease contracts, such as land, transportation vehicles and other equipment. For leases with an initial term greater than 12 months, the Company records a right-of-use ("ROU") asset and a corresponding lease obligation. ROU assets represent the Company's right to use an underlying asset for the lease term, and lease obligations represent the Company's obligation to make fixed lease payments as stipulated by the lease. The present value of lease payments over the term of the leases is included in property and equipment as an ROU asset. Corresponding current and long-term finance lease liabilities represent the present value of lease payments not yet paid.

The Company classifies its leases as either an operating lease or a finance lease based on the principle of whether or not the lease is effectively a financed purchase of the leased asset. For operating leases, the Company recognizes lease expense on a straight-line basis over the term of the lease. For finance leases, the Company recognizes lease expense using the effective interest method, which results in the interest component of each lease payment being recognized as interest expense and the lease ROU asset being amortized to amortization expense using the straight-line method over the term of the lease. As most of the Company's leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments.

Maintenance, insurance, and property tax expenses on leased assets are accounted for on an accrual basis as variable lease costs. Variable lease costs are recognized in the period when changes in facts and circumstances on which the variable lease payments are based occur. For more information on the Company's lease arrangements, refer to Note 5 - Finance Leases.

Lessor

The Company has various property leases under which it is the lessor. Upon lease commencement, the Company evaluates these leases to determine if they meet criteria set forth in lease accounting guidance for classification as sales-type leases or direct financing leases, and if a lease meets none of these criteria, the Company classifies the lease as an operating lease.

The Company's property leases are accounted for as operating leases, whereby the underlying asset remains on our balance sheet and is depreciated consistently with other owned assets, with income recognized as it is earned over the term of the lease agreement.

Recently Adopted Accounting Pronouncements [Policy Text Block]

Recently Adopted Accounting Pronouncements

ASU 2016-13 Credit Losses

In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments ("ASU 2016-13"), which replaces the incurred loss methodology with an expected loss methodology and requires companies to estimate expected credit losses based upon forward-looking information. The Company adopted ASU 2016-13 during its fiscal year ended September 30, 2024 on a modified retrospective basis, and recorded a $15,000 cumulative-effect decrease to retained earnings as of October 1, 2023.

ASU 2023-07 Segment Disclosures

In November 2023, the FASB issued Accounting Standards Update No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures ("ASU 2023-07"). ASU 2023-07 expands segment disclosures for public companies, by requiring public companies to disclose significant segment expenses that are regularly reviewed by the company's chief operating decision maker. The Company has adopted ASU 2023-07 as of September 30, 2025 and has provided retrospective disclosures of additional segment information in Note 10.

Accounting Pronouncements Issued But Not Yet Adopted [Policy Text Block]

Accounting Pronouncements Issued But Not Yet Adopted

ASU 2024-03 Expense Disaggregation

In November 2024, the FASB issued Accounting Standards Update No. 2024-03, Income Statement -Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses ("ASU 2024-03"). ASU 2024-03 requires additional disclosures about the nature of expenses included in the income statement, such as purchases of inventory, employee compensation and depreciation. ASU 2024-03 is effective for public business entities for annual periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating the impact of ASU 2024-03 on its financial statements and related disclosures.

ASU 2023-09 Income Taxes

In December 2023, the FASB issued Accounting Standards Update No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures ("ASU 2023-09"). ASU 2023-09 expands income tax disclosures to provide information to better assess how an entity's operations and related tax risks and tax planning and operational opportunities affect its tax rate and prospects for future cash flows. ASU 2023-09 is effective for public business entities for annual periods beginning after December 15, 2024. The Company is currently evaluating the impact of ASU 2023-09 on its financial statements and related disclosures.