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Consolidated Balance Sheets - USD ($)
Jun. 30, 2024
Jun. 30, 2023
ASSETS    
Investment in hotel, net $ 35,065,000 $ 34,381,000
Investment in marketable securities 209,000 359,000
Cash and cash equivalents 3,511,000 2,295,000
Restricted cash 1,264,000 2,911,000
Accounts receivable - hotel, net 519,000 419,000
Other assets 834,000 735,000
Total assets 41,402,000 41,100,000
Liabilities:    
Other notes payable 2,388,000 2,954,000
Mortgage notes payable - Hotel, net 100,783,000 107,117,000
Total liabilities 156,412,000 144,735,000
Commitments and Contingencies - Note 15
Shareholders’ deficit:    
Common stock, no par value: Authorized shares - 750,000; 734,187 shares issued and outstanding as of June 30, 2024 and 2023, respectively 2,092,000 2,092,000
Accumulated deficit (117,102,000) (105,727,000)
Total shareholders’ deficit (115,010,000) (103,635,000)
Total liabilities and shareholders’ deficit 41,402,000 41,100,000
Hotel [Member]    
Liabilities:    
Accounts payable and other liabilities 13,756,000 11,615,000
Nonrelated Party [Member]    
Liabilities:    
Accounts payable and other liabilities 1,477,000 66,000
Related Party [Member]    
Liabilities:    
Accounts payable to related party 11,515,000 7,283,000
Related party notes payable $ 26,493,000 $ 15,700,000