SEGMENT INFORMATION

6 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

SEGMENT INFORMATION

NOTE 8 - SEGMENT INFORMATION

The Company operates in two reportable segments, the operation of the Hotel (“Hotel Operations”) and the investment of its cash in marketable securities and other investments (“Investment Transactions”). These two operating segments, as presented in the condensed consolidated financial statements, reflect how management internally reviews each segment’s performance. Management also makes operational and strategic decisions based on this same information.

Information below represents reporting segments for the three and six months ended December 31, 2024 and 2023, respectively. Operating income from Hotel operations consists of the operation of the hotel and operation of the garage. Loss from investment transactions consist of net investment gain (loss), dividend and interest income and trading and margin interest expense. The other segment consists of corporate general and administrative expenses and the income tax benefit for the entire Company.

As of and for the three months	Hotel			Investment
ended December 31, 2024	Operations			Transactions			Corporate			Total
Revenues	$	9,965,000		$	-		$	-		$	9,965,000
Segment operating expenses		(9,055,000	)		-			(296,000	)		(9,351,000	)
Segment income (loss)		910,000			-			(296,000	)		614,000
Interest expense - mortgage		(2,845,000	)		-			-			(2,845,000	)
Interest expense - related party		(857,000	)		-			-			(857,000	)
Depreciation and amortization expense		(878,000	)		-			-			(878,000	)
Loss from investments		-			(70,000	)		-			(70,000	)
Net loss	$	(3,670,000	)	$	(70,000	)	$	(296,000	)	$	(4,036,000	)
Total assets	$	38,991,000		$	138,000		$	517,000		$	39,646,000

As of and for the three months		Hotel			Investment
ended December 31, 2023		Operations			Transactions		Corporate			Total
Revenues	$	10,225,000		$	-	$	-		$	10,225,000
Segment operating expenses		(9,405,000	)		-		(434,000	)		(9,839,000	)
Segment icome (loss)		820,000			-		(434,000	)		386,000
Interest expense - mortgage		(1,599,000	)		-		-			(1,599,000	)
Interest expense - related party		(525,000	)		-					(525,000	)
Depreciation and amortization expense		(841,000	)		-		-			(841,000	)
Income from investments					13,000		-			13,000
Net (loss) income	$	(2,145,000	)	$	13,000	$	(434,000	)	$	(2,566,000	)
Total assets	$	40,209,000		$	325,000	$	323,000		$	40,857,000

As of and for the six months	Hotel			Investment
ended December 31, 2024	Operations			Transactions			Corporate			Total
Revenues	$	21,785,000		$	-		$	-		$	21,785,000
Segment operating expenses		(17,847,000	)		-			(651,000	)		(18,498,000	)
Segment income (loss)		3,938,000			-			(651,000	)		3,287,000
Interest expense - mortgage		(5,669,000	)		-			-			(5,669,000	)
Interest expense - related party		(1,681,000	)		-			-			(1,681,000	)
Depreciation and amortization expense		(1,781,000	)		-			-			(1,781,000	)
Loss from investments		-			(63,000	)		-			(63,000	)
Income tax expense		-			-			(1,000	)		(1,000	)
Net loss	$	(5,193,000	)	$	(63,000	)	$	(652,000	)	$	(5,908,000	)
Total assets	$	38,991,000		$	138,000		$	517,000		$	39,646,000

As of and for the six months		Hotel			Investment
ended December 31, 2023		Operations			Transactions			Corporate			Total
Revenues	$	21,318,000		$	-		$	-		$	21,318,000
Segment operating expenses		(18,686,000	)		-			(753,000	)		(19,439,000	)
Segment income (loss)		2,632,000			-			(753,000	)		1,879,000
Interest expense - mortgage		(3,205,000	)		-			-			(3,205,000	)
Interest expense - related party		(1,027,000	)		-			-			(1,027,000	)
Depreciation and amortization expense		(1,662,000	)		-			-			(1,662,000	)
Loss from investments		-			(110,000	)		-			(110,000	)
Income tax expense		-			-			(1,000	)		(1,000	)
Net loss	$	(3,262,000	)	$	(110,000	)	$	(754,000	)	$	(4,126,000	)
Total assets	$	40,209,000		$	325,000		$	323,000		$	40,857,000