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Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2025
Jun. 30, 2024
ASSETS    
Investment in hotel, net $ 33,321,000 $ 35,065,000
Investment in marketable securities 99,000 209,000
Cash and cash equivalents 3,004,000 3,511,000
Restricted cash 6,972,000 1,264,000
Accounts receivable, net 400,000 519,000
Other assets, net 1,569,000 834,000
Total assets 45,365,000 41,402,000
Liabilities:    
Other notes payable 2,121,000 2,388,000
Mortgage notes payable, net 101,194,000 100,783,000
Total liabilities 166,995,000 156,412,000
Shareholders’ deficit:    
Common stock, no par value: Authorized shares - 750,000; 734,187 shares issued and outstanding shares as of March 31, 2025 and June 30, 2024, respectively 2,092,000 2,092,000
Accumulated deficit (123,722,000) (117,102,000)
Total shareholders’ deficit (121,630,000) (115,010,000)
Total liabilities and shareholders’ deficit 45,365,000 41,402,000
Hotel [Member]    
Liabilities:    
Accounts payable and other liabilities 10,168,000 13,756,000
Nonrelated Party [Member]    
Liabilities:    
Accounts payable and other liabilities 175,000 1,477,000
Related Party [Member]    
Liabilities:    
Accounts payable to related party 15,229,000 11,515,000
Related party notes payable $ 38,108,000 $ 26,493,000