v3.25.2
Consolidated Balance Sheets - USD ($)
Jun. 30, 2025
Jun. 30, 2024
ASSETS    
Investment in hotel, net $ 33,783,000 $ 35,065,000
Investment in marketable securities 127,000 209,000
Cash and cash equivalents 4,470,000 3,511,000
Restricted cash 7,252,000 1,264,000
Accounts receivable - Hotel, net 397,000 519,000
Other assets 891,000 834,000
Total assets 46,920,000 41,402,000
Liabilities:    
Other notes payable 1,979,000 2,388,000
Mortgage notes payable - Hotel, net 101,519,000 100,783,000
Total liabilities 171,040,000 156,412,000
Commitments and Contingencies - Note 15
Shareholders’ deficit:    
Common stock, no par value: Authorized shares - 750,000; 734,187 shares issued and outstanding as of June 30, 2025 and 2024, respectively 2,092,000 2,092,000
Accumulated deficit (126,212,000) (117,102,000)
Total shareholders’ deficit (124,120,000) (115,010,000)
Total liabilities and shareholders’ deficit 46,920,000 41,402,000
Hotel [Member]    
Liabilities:    
Accounts payable and other liabilities 12,671,000 13,756,000
Nonrelated Party [Member]    
Liabilities:    
Accounts payable and other liabilities 129,000 1,477,000
Related Party [Member]    
Liabilities:    
Accounts payable to related party 16,634,000 11,515,000
Related party notes payable $ 38,108,000 $ 26,493,000