11. OTHER ASSETS

12 Months Ended

Dec. 31, 2011

Other Assets Disclosure [Text Block]

11. OTHER ASSETS

The Company’s other assets consisted of the following as of December 31, 2011 and 2010:

Description	2011		2010
Deferred loan costs, net of accumulated amortization	$	121,000	$	146,000
Prepaid expenses and other assets		385,000		254,000
Food/beverage & spa inventory		70,000		98,000
Utility deposits		106,000		90,000
Deferred leasing costs		28,000		70,000
Total other assets	$	710,000	$	658,000