v3.22.2.2
CONCENTRATION OF CREDIT RISK
12 Months Ended
Jun. 30, 2022
Risks and Uncertainties [Abstract]  
CONCENTRATION OF CREDIT RISK

NOTE 12 – CONCENTRATION OF CREDIT RISK

 

As of June 30, 2022 and 2021, all accounts receivables are related to Hotel customers. The Hotel had two customers that accounted for 88%, or $183,000 of accounts receivable at June 30, 2022, and two customers that accounted for 89%, or $64,000 of accounts receivable at June 30, 2021.

 

The Company maintains its cash and cash equivalents and restricted cash with various financial institutions that are monitored regularly for credit quality. At times, such cash and cash equivalents holdings may be in excess of the Federal Deposit Insurance Corporation (“FDIC”) or other federally insured limits; however, the Company has never suffered any losses as a result of such high balances.