v3.26.3
Consolidated Balance Sheets - USD ($)
Jun. 30, 2026
Jun. 30, 2025
ASSETS    
Investment in Hotel, net $ 32,342,000 $ 33,783,000
Investment in marketable securities 200,000 127,000
Cash and cash equivalents 4,982,000 4,470,000
Restricted cash 8,440,000 7,252,000
Accounts receivable - Hotel, net 250,000 397,000
Other assets 721,000 891,000
Total assets 46,935,000 46,920,000
Liabilities:    
Other notes payable 1,413,000 1,979,000
Mortgage and mezzanine notes payable - Hotel, net 102,535,000 101,519,000
Total liabilities 176,469,000 171,040,000
Commitments and Contingencies - Note 14
Shareholders’ deficit:    
Common stock, no par value: Authorized shares - 750,000; 734,187 shares issued and outstanding as of June 30, 2026 and 2025, respectively 2,092,000 2,092,000
Accumulated deficit (131,626,000) (126,212,000)
Total shareholders’ deficit (129,534,000) (124,120,000)
Total liabilities and shareholders’ deficit 46,935,000 46,920,000
Hotel [Member]    
Liabilities:    
Accounts payable and other liabilities 13,001,000 12,671,000
Nonrelated Party [Member]    
Liabilities:    
Accounts payable and other liabilities 112,000 129,000
Related Party [Member]    
Liabilities:    
Accounts payable to related party 21,300,000 16,634,000
Related party notes payable $ 38,108,000 $ 38,108,000