| SCHEDULE OF SEGMENT REPORTING INFORMATION |
SCHEDULE OF SEGMENT REPORTING INFORMATION
| As of and for the year ended | |
Hotel | | |
Real Estate | | |
Investment | | |
| | |
| |
| June 30, 2026 | |
Operations | | |
Operations | | |
Transactions | | |
Other | | |
Total | |
| Revenues | |
$ | 55,797,000 | | |
$ | 18,154,000 | | |
$ | - | | |
$ | - | | |
$ | 73,951,000 | |
| Operating expenses | |
| (38,265,000 | ) | |
| (4,267,000 | ) | |
| - | | |
| - | | |
| (42,532,000 | ) |
| Utilities | |
| (1,900,000 | ) | |
| (1,354,000 | ) | |
| - | | |
| - | | |
| (3,254,000 | ) |
| Real estate taxes | |
| (2,159,000 | ) | |
| (2,167,000 | ) | |
| - | | |
| - | | |
| (4,326,000 | ) |
| Insurance | |
| (949,000 | ) | |
| (1,513,000 | ) | |
| - | | |
| - | | |
| (2,462,000 | ) |
| General and administrative | |
| - | | |
| - | | |
| - | | |
| (2,718,000 | ) | |
| (2,718,000 | ) |
| Segment income (loss) from operations | |
| 12,524,000 | | |
| 8,853,000 | | |
| - | | |
| (2,718,000 | ) | |
| 18,659,000 | |
| Interest expense - mortgages | |
| (9,686,000 | ) | |
| (2,980,000 | ) | |
| - | | |
| - | | |
| (12,666,000 | ) |
| Gain on extinguishment of debt | |
| | | |
| | | |
| | | |
| | | |
| | |
| Gain on insurance recovery | |
| - | | |
| 124,000 | | |
| - | | |
| - | | |
| 124,000 | |
| Gain on sale of real estate | |
| - | | |
| 3,508,000 | | |
| - | | |
| - | | |
| 3,508,000 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Depreciation and amortization expense | |
| (3,740,000 | ) | |
| (3,053,000 | ) | |
| - | | |
| - | | |
| (6,793,000 | ) |
| Loss from investments | |
| - | | |
| - | | |
| (213,000 | ) | |
| - | | |
| (213,000 | ) |
| Income tax expense | |
| - | | |
| - | | |
| - | | |
| (2,283,000 | ) | |
| (2,283,000 | ) |
| Net (loss) income | |
$ | (902,000 | ) | |
$ | 6,452,000 | | |
$ | (213,000 | ) | |
$ | (5,001,000 | ) | |
$ | 336,000 | |
| Total assets | |
$ | 52,183,000 | | |
$ | 42,835,000 | | |
$ | 4,394,000 | | |
$ | 5,206,000 | | |
$ | 104,618,000 | |
| As of and for the year ended | |
Hotel | | |
Real Estate | | |
Investment | | |
| | |
| |
| June 30, 2025 | |
Operations | | |
Operations | | |
Transactions | | |
Other | | |
Total | |
| Revenues | |
$ | 46,363,000 | | |
$ | 18,015,000 | | |
$ | - | | |
$ | - | | |
$ | 64,378,000 | |
| Operating expenses | |
| (31,593,000 | ) | |
| (4,158,000 | ) | |
| - | | |
| - | | |
| (35,751,000 | ) |
| Utilities | |
| (3,210,000 | ) | |
| (1,339,000 | ) | |
| - | | |
| - | | |
| (4,549,000 | ) |
| Real estate taxes | |
| (1,912,000 | ) | |
| (2,241,000 | ) | |
| - | | |
| - | | |
| (4,153,000 | ) |
| Insurance | |
| (916,000 | ) | |
| (1,812,000 | ) | |
| - | | |
| - | | |
| (2,728,000 | ) |
| General and administrative | |
| - | | |
| - | | |
| - | | |
| (2,930,000 | ) | |
| (2,930,000 | ) |
| Segment income (loss) from operations | |
| 8,732,000 | | |
| 8,465,000 | | |
| - | | |
| (2,930,000 | ) | |
| 14,267,000 | |
| Interest expense - mortgages | |
| (10,680,000 | ) | |
| (2,876,000 | ) | |
| - | | |
| - | | |
| (13,556,000 | ) |
| Gain on extinguishment of debt | |
| 1,416,000 | | |
| - | | |
| - | | |
| - | | |
| 1,416,000 | |
| Depreciation and amortization expense | |
| (3,634,000 | ) | |
| (2,990,000 | ) | |
| - | | |
| - | | |
| (6,624,000 | ) |
| Loss from investments | |
| - | | |
| - | | |
| (2,502,000 | ) | |
| - | | |
| (2,502,000 | ) |
| Income tax benefit | |
| - | | |
| - | | |
| - | | |
| (548,000 | ) | |
| (548,000 | ) |
| Net (loss) income | |
$ | (4,166,000 | ) | |
$ | 2,599,000 | | |
$ | (2,502,000 | ) | |
$ | (3,478,000 | ) | |
$ | (7,547,000 | ) |
| Total assets | |
$ | 52,357,000 | | |
$ | 45,253,000 | | |
$ | 969,000 | | |
$ | 5,522,000 | | |
$ | 104,101,000 | |
|