ASSETS HELD FOR SALE AND DISCONTINUED OPERATIONS (Tables)

12 Months Ended

Dec. 31, 2023

Assets Held For Sale And Discontinued Operations

Schedule of assets and liabilities of agree operations

	December 31,		December 31,
	2023		2022
Cash and cash equivalents	$	1,080,000	$	2,550,000
Restricted cash		697,000		2,831,000
Accounts receivable		247,000		264,000
Inventories		50,000		44,000
Property and equipment, net - current		88,525,000		-
Prepaid expenses and other current assets		392,000		270,000
Total current assets		90,991,000		5,959,000
Property and equipment, net		-		92,535,000
Total assets		90,991,000		98,494,000
Accounts payable and accrued expenses		3,099,000		2,631,000
Notes payable, current		67,262,000		-
Total current liabilities		70,361,000		2,631,000
Notes payable		-		61,633,000
Total liabilities		70,361,000		64,264,000
Net assets of discontinued operations	$	20,630,000	$	34,230,000

Schedule of estimated costs to sell and expected

	For the Year Ended
	December 31,
	2023			2022
Revenue, hotel and real estate operations	$	16,161,000		$	16,697,000
Cost of revenue, hotel operations		12,300,000			11,406,000
Gross profit		3,861,000			5,291,000
General and administrative		3,383,000			5,982,000
Impairment of property and equipment		8,284,000			-
Total operating expenses		11,667,000			5,982,000
Loss from operations		(7,806,000	)		(691,000	)
Interest expense		(7,898,000	)		(5,204,000	)
Net loss from discontinued operations	$	(15,704,000	)	$	(5,895,000	)

Schedule of cash flow activity related to discontinued operations

	For the Year Ended December 31,
	2023			2022
Cash flows from operating activities:
Net loss	$	(15,704,000	)	$	(5,895,000	)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization		2,074,000			3,322,000
Amortization of debt discount		392,000			391,000
Impairment of property and equipment		8,284,000			-
Changes in operating assets and liabilities:
Accounts receivable		17,000			(213,000	)
Inventories		(6,000	)		(13,000	)
Prepaid expenses and other current assets		(122,000	)		349,000
Accounts payable and accrued expenses		467,000			2,026,000
Net cash used in operating activities		(4,598,000	)		(33,000	)
Cash flows from investing activities:
Purchase of property and equipment		(6,347,000	)		(9,111,000	)
Net cash used in investing activities		(6,347,000	)		(9,111,000	)
Cash flows from financing activities:
Proceeds from notes payable		5,237,000			7,340,000
Cash contributions from parent		2,104,000			794,000
Net cash provided by financing activities		7,341,000			8,134,000
Net decrease in cash and cash equivalents and restricted cash		(3,604,000	)		(1,010,000	)
Cash and cash equivalents and restricted cash at beginning of period		5,381,000			6,391,000
Cash and cash equivalents and restricted cash at end of period	$	1,777,000		$	5,381,000
Supplemental disclosures of cash flow information:
Cash paid during the period for interest	$	7,506,000		$	4,813,000