XML 16 R5.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net loss $ (431,000) $ (6,322,000)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Net unrealized loss on marketable securities 1,643,000 2,987,000
Deferred taxes 346,000 (2,752,000)
Unrealized loss on other investments 0 63,000
Impairment loss on other investments 97,000 312,000
Loss on disposal of assets 0 30,000
Depreciation 2,213,000 2,288,000
Amortization of loan costs 84,000 84,000
Changes in operating assets and liabilities:    
Investment in marketable securities (1,330,000) (258,000)
Accounts receivable 2,226,000 3,882,000
Other assets 329,000 1,009,000
Accounts payable and other liabilities (1,819,000) 1,242,000
Due to securities broker 745,000 43,000
Obligations for securities sold 522,000 37,000
Net cash provided by operating activities 4,625,000 2,645,000
Cash flows from investing activities:    
Payments for hotel and real estate investments (266,000) (3,627,000)
Payments for other investments (180,000) 0
Net cash used in investing activities (446,000) (3,627,000)
Cash flows from financing activities:    
Restricted cash - (payments to) withdrawal of mortgage impounds, net (1,445,000) 182,000
Net (payments) proceeds from mortgage and other notes payable (528,000) 5,007,000
Redemption payment to noncontrolling interest 0 (50,000)
Net cash provided by financing activities (1,973,000) 5,139,000
Net increase in cash and cash equivalents: 2,206,000 4,157,000
Cash and cash equivalents at the beginning of the period 3,397,000 1,146,000
Cash and cash equivalents at the end of the period 5,603,000 5,303,000
Supplemental information:    
Interest paid 6,078,000 5,906,000
Non-cash transaction:    
Key money incentive fee 2,000,000 0
Conversion of other investments to marketable securities $ 0 $ 6,659,000