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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net loss $ (6,620,000) $ (6,997,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Net unrealized loss on marketable securities 15,000 46,000
Gain on debt extinguishment (1,416,000)
Depreciation and amortization 2,655,000 2,522,000
Amortization of loan costs 679,000 122,000
Amortization of other notes payable (267,000) (425,000)
Changes in operating assets and liabilities:    
Investment in marketable securities 95,000
Accounts receivable 119,000 (40,000)
Other assets (257,000) (430,000)
Accounts payable and other liabilities - Hotel (2,650,000) 1,536,000
Accounts payable and other liabilities (1,302,000) 57,000
Accounts payable related party 3,714,000 3,056,000
Net cash used in operating activities (5,235,000) (553,000)
Cash flows from investing activities:    
Payments for hotel furniture, equipment and building improvements (911,000) (2,650,000)
Net cash used in investing activities (911,000) (2,650,000)
Cash flows from financing activities:    
 Proceeds from related party note payable 11,615,000 4,400,000
 Issuance cost from refinance of mortgage note payable (2,106,000)
 Proceeds from mortgage note payable 78,800,000
 Payments of mortgage and other notes payable (76,962,000) (1,194,000)
Net cash provided by financing activities 11,347,000 3,206,000
Net increase in cash, cash equivalents, and restricted cash 5,201,000 3,000
Cash, cash equivalents, and restricted cash at the beginning of the period 4,775,000 5,206,000
Cash, cash equivalents, and restricted cash at the end of the period 9,976,000 5,209,000
Supplemental information:    
Interest paid 7,594,000 3,718,000
Taxes paid $ 2,000