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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net loss $ (11,375,000) $ (13,203,000)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Net unrealized loss (gain) on marketable securities 83,000 (188,000)
Amortization of other notes payable (566,000) (567,000)
Deferred income taxes 7,911,000
Depreciation and amortization 3,394,000 2,715,000
Amortization of loan cost 920,000 244,000
Changes in operating assets and liabilities:    
Investment in marketable securities 67,000 370,000
Accounts receivable - Hotel, net (100,000) (42,000)
Other assets (99,000) 117,000
Accounts payable and other liabilities - Hotel 2,141,000 3,308,000
Accounts payable and other liabilities 1,411,000 (169,000)
Accounts payable related party 4,232,000 2,375,000
Due to securities broker (130,000)
Net cash provided by operating activities 108,000 2,741,000
Cash flows from investing activities:    
Payments for hotel furniture, equipment and building improvements (4,078,000) (5,866,000)
Net cash used in investing activities (4,078,000) (5,866,000)
Cash flows from financing activities:    
Issuance costs from forbearance (1,477,000)
Proceeds from mortgage note payable 4,500,000
Proceeds from related party note payable 10,793,000 1,500,000
Payments of mortgage and finance leases (10,277,000) (2,057,000)
Net cash provided by (used in) financing activities 3,539,000 (557,000)
Net decrease in cash, cash equivalents, and restricted cash (431,000) (3,682,000)
Cash, cash equivalents, and restricted cash at the beginning of the period 5,206,000 8,888,000
Cash, cash equivalents, and restricted cash at the end of the period 4,775,000 5,206,000
Supplemental information:    
Interest paid 4,837,000 6,468,000
Taxes paid $ 1,000 $ 23,000