ACCOUNTS PAYABLE AND OTHER LIABILITIES

9 Months Ended

Mar. 31, 2026

NOTE 14 – ACCOUNTS PAYABLE AND OTHER LIABILITIES

The following summarizes the components of accounts payable and other liabilities as of March 31, 2026 and June 30, 2025:

As of	March 31, 2026		June 30, 2025

Trade payable	$	2,032,000	$	2,742,000
Advance deposits		826,000		743,000
Property tax payable		371,000		563,000
Payroll and related accruals		3,465,000		3,038,000
Mortgage interest payable		5,695,000		3,568,000
Withholding and other taxes payable		1,136,000		1,597,000
Security deposit		1,036,000		1,024,000
Franchise fees		410,000		1,649,000
Management fees payable		250,000		604,000
Other		472,000		436,000
Total accounts payable and other liabilities	$	15,693,000	$	15,964,000

Accounts payable and other liabilities consist primarily of amounts incurred in the ordinary course of business. Trade payables represent amounts owed to vendors for operating and capital items. Advance deposits consist primarily of customer deposits received in advance of providing services, including deposits related to Hotel stays and events (see Note 3). Accrued payroll and related liabilities include wages, bonuses, and employee-related accruals. Mortgage interest payable represents accrued interest on the Company’s mortgage debt (see Note 13). Withholding and other taxes payable consist primarily of payroll-related and other taxes owed. Security deposits primarily represent tenant deposits associated with the Company’s real estate operations. Franchise fees payable and management fees payable relate to Hotel operations. Certain components, such as security deposits and accrued mortgage interest, are settled in the ordinary course in accordance with their underlying terms.