v3.22.2.2
Consolidated Balance Sheets - USD ($)
Jun. 30, 2022
Jun. 30, 2021
ASSETS    
Investment in hotel, net $ 31,230,000 $ 31,513,000
Investment in marketable securities 541,000 3,536,000
Other investments 20,000
Cash and cash equivalents 2,662,000 2,310,000
Restricted cash 6,226,000 6,222,000
Accounts receivable - hotel, net 377,000 194,000
Other assets 852,000 701,000
Deferred tax assets 7,911,000 8,055,000
Total assets 49,799,000 52,551,000
Liabilities:    
Accounts payable and other liabilities - Hotel 8,307,000 7,440,000
Accounts payable and other liabilities 235,000 190,000
Accounts payable to related party 4,908,000 3,193,000
Due to securities broker 130,000 1,715,000
Related party notes payable 17,721,000 10,738,000
SBA Loan - Justice 2,000,000
Finance Leases 183,000 664,000
Mortgage notes payable - Hotel, net 108,747,000 110,134,000
Total liabilities 140,231,000 136,074,000
Commitments and Contingencies - Note 16
Shareholders’ deficit:    
Common stock, no par value: Authorized shares - 750,000; 734,187 shares issued and outstanding as of June 30, 2022 and 2021, respectively 2,092,000 2,092,000
Accumulated deficit (92,524,000) (84,960,000)
Total Portsmouth shareholders’ deficit (90,432,000) (82,868,000)
Noncontrolling interest (655,000)
Total shareholders’ deficit (90,432,000) (83,523,000)
Total liabilities and shareholders’ deficit $ 49,799,000 $ 52,551,000