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10-K true 2026-06-30 --06-30 2026 false 000-04057 PORTSMOUTH SQUARE, INC. CA 94-1674111 1516 S. Bundy Drive Suite 200 Los Angeles CA 90025 (310) 889-2500 Common Stock, No Par Value No No Yes Yes Non-accelerated Filer true false false false false 1269000 734187 None Item 1C. Cybersecurity. The Company maintains processes designed to assess, identify and manage material risks from cybersecurity threats. Because the Company’s Hotel and corporate operations depend substantially on information technology systems operated or supported by <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_90E_ecyd--CybersecurityRiskManagementThirdPartyEngagedFlag_dbT_c20250701__20260630_zSeOc63sTKjc">third parties, the Company’s cybersecurity risk management processes address risks arising from both its corporate technology environment and the third-party systems used in the operation and franchising of the Hotel. Risk Management and Strategy The Company’s technology environment generally consists of three principal areas. First, the Hotel utilizes systems and technology provided and maintained by Hilton in connection with reservations, booking, marketing and other franchise-related functions. Second, Aimbridge Hospitality (“Aimbridge”), as manager of the Hotel, provides and maintains systems used for Hotel-level accounting, operations and administrative support. Third, the Company’s corporate office relies on a third-party information technology and cybersecurity provider and third-party software platforms, including Yardi, for accounting and administrative functions. A substantial portion of the Company’s corporate operations and communications are conducted through internet-based systems and third-party technology platforms. Because of the Company’s size, it does not maintain a dedicated internal cybersecurity department and instead relies on its third-party information technology and cybersecurity provider for technical cybersecurity expertise and services relating to its corporate technology environment. The Company’s cybersecurity risk and vulnerability assessments: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">use of third-party information technology and cybersecurity professionals to assist in monitoring, investigating, containing and remediating identified threats and vulnerabilities; </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">cybersecurity awareness and compliance training; </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">maintenance and periodic testing of cybersecurity incident-response procedures; and monthly cybersecurity awareness training to our staff; and</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">consideration of cybersecurity risks associated with material third-party technology and service providers.</td></tr> </table> The Company uses its third-party information technology and cybersecurity provider and related cybersecurity tools and services to assist in monitoring its corporate technology environment, evaluating vulnerabilities and addressing identified cybersecurity risks. Hotel personnel also complete annual Payment Card Industry (“PCI”) compliance certification and training requirements through both Hilton and Aimbridge. <p class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_982_ecyd--CybersecurityRiskManagementProcessesIntegratedTextBlock_c20250701__20260630_zcxUT0DxvhO2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The Company’s cybersecurity risk management processes are <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_901_ecyd--CybersecurityRiskManagementProcessesIntegratedFlag_dbT_c20250701__20260630_zKpdxOekwWwk">integrated into its overall risk management processes. Third-Party Service Providers The Company depends substantially on third-party technology and service providers for systems used in its operations. Hilton provides and maintains systems used for reservations, booking, marketing and other franchise-related functions, while Aimbridge provides and maintains systems used for Hotel-level accounting, operations and administrative support. Hilton and Aimbridge maintain their own cybersecurity programs and controls, and Hotel personnel complete annual PCI compliance certification and training requirements through both organizations. The Company also relies on its third-party information technology and cybersecurity provider for its corporate technology environment and on third-party software platforms, including Yardi, for certain accounting and administrative functions. The Company does not directly control the cybersecurity systems, practices or infrastructure of Hilton, Aimbridge, Yardi or its other third-party service providers. Accordingly, a cybersecurity incident affecting one of these providers could adversely affect the Company even if the Company’s corporate systems were not directly compromised. Management and Board Oversight <p class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_98E_ecyd--CybersecurityRiskRoleOfManagementTextBlock_c20250701__20260630_zBi2L1YX37u5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The Company’s <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_900_ecyd--CybersecurityRiskManagementPositionsOrCommitteesResponsibleFlag_dbT_c20250701__20260630_zfKxhZaEMeC5">management is responsible for overseeing the assessment and management of material risks from cybersecurity threats. Because the Company does not maintain a dedicated internal cybersecurity department, management relies on its third-party information technology and cybersecurity provider, as well as information received from material technology and service providers, to assist in identifying, assessing and responding to cybersecurity risks. The Company’s Controller and Principal Financial Officer is responsible for coordinating the Company’s cybersecurity risk management activities with its third-party information technology and cybersecurity provider. The Controller and Principal Financial Officer receive information regarding identified cybersecurity risks, vulnerabilities and incidents and is responsible for escalating material cybersecurity matters to senior management and, when appropriate, the Board of Directors. The Controller and Principal Financial Officer is not a dedicated cybersecurity professional; the Company relies on its third-party information technology and cybersecurity provider for technical cybersecurity expertise and services. Management monitors cybersecurity risks through communications with the Company’s third-party information technology and cybersecurity provider, assessments of identified risks and vulnerabilities, and information received from material third-party service providers. <p class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_98F_ecyd--CybersecurityRiskBoardOfDirectorsOversightTextBlock_c20250701__20260630_z9jzb7gqqGrk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_90D_ecyd--CybersecurityRiskBoardCommitteeOrSubcommitteeResponsibleForOversightTextBlock_c20250701__20260630_zLiMl0W58Rah">Board of Directors oversees risks from cybersecurity threats and receives periodic reports from management regarding cybersecurity risks, incidents and risk mitigation measures. <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_90A_ecyd--CybersecurityRiskManagementPositionsOrCommitteesResponsibleReportToBoardFlag_dbT_c20250701__20260630_zSueonQMrV7h">Material cybersecurity incidents would be reported to the Board as appropriate. The Board reviews the Company’s cybersecurity risk management processes and incident-response planning at least annually. Effect of Cybersecurity Risks Risks from cybersecurity threats, including risks associated with third-party systems used by the Company, have not materially affected the Company, including its business strategy, results of operations or financial condition. <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_900_ecyd--CybersecurityRiskMateriallyAffectedOrReasonablyLikelyToMateriallyAffectRegistrantFlag_dbF_c20250701__20260630_zxwESnIw1u7k">The Company did not identify any cybersecurity incident during the fiscal year ended June 30, 2026, that materially affected the Company. <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_90F_ecyd--CybersecurityRiskMateriallyAffectedOrReasonablyLikelyToMateriallyAffectRegistrantTextBlock_dbF_c20250701__20260630_zyXc7DufUFb1">The Company has not identified any cybersecurity threat that management currently believes is reasonably likely to materially affect the Company, including its business strategy, results of operations or financial condition. The Company nevertheless remains subject to cybersecurity risks arising from its own technology environment and from systems maintained by Hilton, Aimbridge, Yardi and other third-party service providers. A material cybersecurity incident affecting any of these systems could disrupt Hotel or corporate operations, compromise confidential or proprietary information, result in legal or regulatory exposure, or otherwise materially adversely affect the Company’s business, results of operations or financial condition. See Item 1A – Risk Factors. true The Company’s cybersecurity risk management processes are <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_901_ecyd--CybersecurityRiskManagementProcessesIntegratedFlag_dbT_c20250701__20260630_zKpdxOekwWwk">integrated into its overall risk management processes. true The Company’s <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_900_ecyd--CybersecurityRiskManagementPositionsOrCommitteesResponsibleFlag_dbT_c20250701__20260630_zfKxhZaEMeC5">management is responsible for overseeing the assessment and management of material risks from cybersecurity threats. Because the Company does not maintain a dedicated internal cybersecurity department, management relies on its third-party information technology and cybersecurity provider, as well as information received from material technology and service providers, to assist in identifying, assessing and responding to cybersecurity risks. true The <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_90D_ecyd--CybersecurityRiskBoardCommitteeOrSubcommitteeResponsibleForOversightTextBlock_c20250701__20260630_zLiMl0W58Rah">Board of Directors oversees risks from cybersecurity threats and receives periodic reports from management regarding cybersecurity risks, incidents and risk mitigation measures. <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_90A_ecyd--CybersecurityRiskManagementPositionsOrCommitteesResponsibleReportToBoardFlag_dbT_c20250701__20260630_zSueonQMrV7h">Material cybersecurity incidents would be reported to the Board as appropriate. The Board reviews the Company’s cybersecurity risk management processes and incident-response planning at least annually. Board of Directors oversees risks from cybersecurity threats and receives periodic reports from management regarding cybersecurity risks, incidents and risk mitigation measures. true false The Company has not identified any cybersecurity threat that management currently believes is reasonably likely to materially affect the Company, including its business strategy, results of operations or financial condition We have audited the accompanying consolidated balance sheet of Portsmouth Square, Inc. and subsidiaries (the “Company”) as of June 30, 2026, and the related consolidated statements of operations, shareholders’ deficit and cash flows for the year then ended, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of June 30, 2026, and the results of its operations and its cash flows for the year then ended, in conformity with accounting principles generally accepted in the United States of America. Whitley Penn LLP Dallas, Texas 726 WithumSmith+Brown, PC East Brunswick, NJ 100

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-95000

-147000

-122000

-171000

57000

330000 331000

-18000

-1348000

4666000

5119000

3899000

-2148000

2199000

2252000

-2199000

-2252000

2106000

78800000

11615000

76962000

11347000

1700000

6947000

11722000

4775000

13422000

11722000

5909000

8519000

31000

4982000

4470000

8440000

7252000

13422000

11722000

NOTE 1 - BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES AND PRACTICES Description of Business Portsmouth Square, Inc. (“Portsmouth” or the “Company”), through its wholly owned subsidiaries, owns the Hilton San Francisco Financial District, a 558-room full-service hotel located at 750 Kearny Street in San Francisco, California, together with a five-level underground parking garage (collectively, the “Hotel”). Justice Operating Company, LLC (“Operating”) an indirectly wholly owned subsidiary of the Company, owns the Hotel. The Hotel operates under a franchise agreement with HLT Franchise Holding LLC (“Hilton”) through January 31, 2030 and is managed by Aimbridge Hospitality (“Aimbridge”) pursuant to a hotel management agreement. Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany transactions and balances have been eliminated in consolidation. Investment in Hotel, Net Property and equipment are stated at cost. Building and improvements are depreciated on a straight-line basis over their useful lives ranging from <span id="xdx_909_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260630__srt--MortgageLoansOnRealEstateLoanTypeAxis__srt--HotelMember__srt--RangeAxis__srt--MinimumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--BuildingImprovementsMember_zRNDdxPTu4Tb" title="Property, plant and equipment, useful life">15 to <span id="xdx_908_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260630__srt--MortgageLoansOnRealEstateLoanTypeAxis__srt--HotelMember__srt--RangeAxis__srt--MaximumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--BuildingImprovementsMember_zQZ0GMfJ2n7c" title="Property, plant and equipment, useful life">39 years. Furniture, fixtures, and equipment are depreciated on a straight-line basis over their useful lives ranging from <span id="xdx_909_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260630__srt--MortgageLoansOnRealEstateLoanTypeAxis__srt--HotelMember__srt--RangeAxis__srt--MinimumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zOGqiHrwgP2a" title="Property, plant and equipment, useful life">3 to <span id="xdx_902_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260630__srt--MortgageLoansOnRealEstateLoanTypeAxis__srt--HotelMember__srt--RangeAxis__srt--MaximumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zj3JtMCl9lqe" title="Property, plant and equipment, useful life">7 years. Repairs and maintenance are charged to expense as incurred. Costs of significant renewals and improvements are capitalized and depreciated over their estimated useful lives. The cost of assets sold or retired and the related accumulated depreciation are removed from the accounts; any resulting gain or loss is included in other income (expense). The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable. Recoverability is evaluated by comparing the carrying amount of the asset or asset group with the estimated undiscounted future cash flows expected to result from its use and eventual disposition. If the carrying amount is not recoverable, an impairment loss is recognized for the amount by which the carrying amount exceeds fair value. No impairment losses were recorded for the years ended June 30, 2026 and 2025. Investment in Marketable Securities Marketable equity securities are measured at fair value based on quoted market prices, with changes in fair value recognized in earnings. Cash and Cash Equivalents The Company considers highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Restricted Cash Restricted cash consist of amounts held in lender-controlled accounts for real estate taxes, insurance, capital expenditures and other reserves required under the Hotel’s financing arrangements. Accounts Receivable - Hotel, Net Accounts receivable are stated at amounts expected to be collected, net of an allowance for credit losses. The allowance is estimated based on historical credit loss experience, current conditions and reasonable and supportable forecasts. Receivables deemed uncollectible are written off against the allowance. The net accounts receivable balance on July 1, 2024 was $519,000. As of June 30, 2026 and 2025, the Company has gross accounts receivable of $250,000 and $383,000 respectively, and allowance for doubtful accounts of $0 and $9,000, respectively. The Company extends unsecured credit to its customers but mitigates the associated credit risk by performing ongoing credit evaluations of its customers. Other Assets Other assets primarily consist of Hotel inventory, prepaid expenses and other miscellaneous assets. Income Taxes The Company accounts for income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial statement carrying amounts and tax bases of assets and liabilities and for tax carryforwards, using enacted tax rates expected to apply when the differences reverse. A valuation allowance is recognized when it is more likely than not that some portion or all of a deferred tax asset will not be realized. The Company recognizes the tax benefit of an uncertain tax position only when it is more likely than not, based on its technical merits, that the position will be sustained upon examination. The recognized tax benefit is measured as the largest amount that is greater than 50% likely to be realized upon settlement. Interest and penalties related to uncertain tax positions are recognized as a component of income tax expense. Interest Rate Cap The Company accounts for interest rate cap agreements as derivative instruments that are recognized in the balance sheet at fair value and remeasured at each reporting date. The interest rate caps are not designated as hedging instruments, and changes in fair value are recognized in earnings within other income (expense). Revenue Recognition Hotel revenue consists primarily of room, food and beverage, parking and other ancillary revenue. Room revenue is recognized over the period rooms are occupied, and food and beverage, parking and other ancillary revenue is recognized when the related goods or services are provided. For arrangements containing multiple performance obligations, the transaction price is allocated to each performance obligation based on relative standalone selling prices. Amounts received in advance are recorded as contract liabilities and recognized as revenue as the related performance obligations are satisfied. The Company does not disclose remaining performance obligations for contracts with an original expected duration of one year or less. See Note 3 – Revenue. Advertising Costs Advertising costs are expensed as incurred and are included in Hotel operating expenses in the consolidated statements of operations. Advertising expense was $164,000 and $263,000 for the years ended June 30, 2026 and 2025, respectively. Basic and Diluted Loss per Share Basic loss per share is computed using the weighted average number of common shares outstanding during each period. Diluted loss per share is the same as basic loss per share because the Company had no potentially dilutive securities outstanding during the years ended June 30, 2026 and 2025. Use of Estimates The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, revenues and expenses, and related disclosures. Actual results may differ from those estimates. Debt Issuance Costs Debt issuance costs related to a debt obligation are presented in the consolidated balance sheets as a direct deduction from the carrying amount of the related debt and are amortized over the life of the debt. Amortization of debt issuance costs is included in interest expense in the consolidated statements of operations. Recently Issued and Adopted Accounting Pronouncements The Company adopted ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, effective July 1, 2025. The adoption did not affect the Company’s consolidated financial position, results of operations or cash flows and resulted in expanded income tax disclosures. In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, as subsequently clarified by ASU 2025-01. The amendments require additional disaggregation of certain expense captions and are effective for annual reporting periods beginning after December 15, 2026 and interim periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted. The Company is evaluating the impact on its disclosures. In July 2025, the FASB issued ASU 2025-05, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets. The amendments provide a practical expedient for estimating expected credit losses on certain current accounts receivable and contract assets and are effective for annual reporting periods beginning after December 15, 2025. The Company is evaluating the impact of the guidance. Other recently issued accounting pronouncements are not expected to have a material effect on the Company’s consolidated financial statements.

Description of Business Portsmouth Square, Inc. (“Portsmouth” or the “Company”), through its wholly owned subsidiaries, owns the Hilton San Francisco Financial District, a 558-room full-service hotel located at 750 Kearny Street in San Francisco, California, together with a five-level underground parking garage (collectively, the “Hotel”). Justice Operating Company, LLC (“Operating”) an indirectly wholly owned subsidiary of the Company, owns the Hotel. The Hotel operates under a franchise agreement with HLT Franchise Holding LLC (“Hilton”) through January 31, 2030 and is managed by Aimbridge Hospitality (“Aimbridge”) pursuant to a hotel management agreement.

Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany transactions and balances have been eliminated in consolidation.

Investment in Hotel, Net Property and equipment are stated at cost. Building and improvements are depreciated on a straight-line basis over their useful lives ranging from <span id="xdx_909_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260630__srt--MortgageLoansOnRealEstateLoanTypeAxis__srt--HotelMember__srt--RangeAxis__srt--MinimumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--BuildingImprovementsMember_zRNDdxPTu4Tb" title="Property, plant and equipment, useful life">15 to <span id="xdx_908_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260630__srt--MortgageLoansOnRealEstateLoanTypeAxis__srt--HotelMember__srt--RangeAxis__srt--MaximumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--BuildingImprovementsMember_zQZ0GMfJ2n7c" title="Property, plant and equipment, useful life">39 years. Furniture, fixtures, and equipment are depreciated on a straight-line basis over their useful lives ranging from <span id="xdx_909_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260630__srt--MortgageLoansOnRealEstateLoanTypeAxis__srt--HotelMember__srt--RangeAxis__srt--MinimumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zOGqiHrwgP2a" title="Property, plant and equipment, useful life">3 to <span id="xdx_902_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260630__srt--MortgageLoansOnRealEstateLoanTypeAxis__srt--HotelMember__srt--RangeAxis__srt--MaximumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zj3JtMCl9lqe" title="Property, plant and equipment, useful life">7 years. Repairs and maintenance are charged to expense as incurred. Costs of significant renewals and improvements are capitalized and depreciated over their estimated useful lives. The cost of assets sold or retired and the related accumulated depreciation are removed from the accounts; any resulting gain or loss is included in other income (expense). The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable. Recoverability is evaluated by comparing the carrying amount of the asset or asset group with the estimated undiscounted future cash flows expected to result from its use and eventual disposition. If the carrying amount is not recoverable, an impairment loss is recognized for the amount by which the carrying amount exceeds fair value. No impairment losses were recorded for the years ended June 30, 2026 and 2025.

P15Y

P39Y

P3Y

P7Y

Investment in Marketable Securities Marketable equity securities are measured at fair value based on quoted market prices, with changes in fair value recognized in earnings.

Cash and Cash Equivalents The Company considers highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents.

Restricted Cash Restricted cash consist of amounts held in lender-controlled accounts for real estate taxes, insurance, capital expenditures and other reserves required under the Hotel’s financing arrangements.

Accounts Receivable - Hotel, Net Accounts receivable are stated at amounts expected to be collected, net of an allowance for credit losses. The allowance is estimated based on historical credit loss experience, current conditions and reasonable and supportable forecasts. Receivables deemed uncollectible are written off against the allowance. The net accounts receivable balance on July 1, 2024 was $519,000. As of June 30, 2026 and 2025, the Company has gross accounts receivable of $250,000 and $383,000 respectively, and allowance for doubtful accounts of $0 and $9,000, respectively. The Company extends unsecured credit to its customers but mitigates the associated credit risk by performing ongoing credit evaluations of its customers.

519000

250000

383000

9000

Other Assets Other assets primarily consist of Hotel inventory, prepaid expenses and other miscellaneous assets.

Income Taxes The Company accounts for income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial statement carrying amounts and tax bases of assets and liabilities and for tax carryforwards, using enacted tax rates expected to apply when the differences reverse. A valuation allowance is recognized when it is more likely than not that some portion or all of a deferred tax asset will not be realized. The Company recognizes the tax benefit of an uncertain tax position only when it is more likely than not, based on its technical merits, that the position will be sustained upon examination. The recognized tax benefit is measured as the largest amount that is greater than 50% likely to be realized upon settlement. Interest and penalties related to uncertain tax positions are recognized as a component of income tax expense.

Interest Rate Cap The Company accounts for interest rate cap agreements as derivative instruments that are recognized in the balance sheet at fair value and remeasured at each reporting date. The interest rate caps are not designated as hedging instruments, and changes in fair value are recognized in earnings within other income (expense).

Revenue Recognition Hotel revenue consists primarily of room, food and beverage, parking and other ancillary revenue. Room revenue is recognized over the period rooms are occupied, and food and beverage, parking and other ancillary revenue is recognized when the related goods or services are provided. For arrangements containing multiple performance obligations, the transaction price is allocated to each performance obligation based on relative standalone selling prices. Amounts received in advance are recorded as contract liabilities and recognized as revenue as the related performance obligations are satisfied. The Company does not disclose remaining performance obligations for contracts with an original expected duration of one year or less. See Note 3 – Revenue.

Advertising Costs Advertising costs are expensed as incurred and are included in Hotel operating expenses in the consolidated statements of operations. Advertising expense was $164,000 and $263,000 for the years ended June 30, 2026 and 2025, respectively.

164000

263000

Basic and Diluted Loss per Share Basic loss per share is computed using the weighted average number of common shares outstanding during each period. Diluted loss per share is the same as basic loss per share because the Company had no potentially dilutive securities outstanding during the years ended June 30, 2026 and 2025.

Use of Estimates The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, revenues and expenses, and related disclosures. Actual results may differ from those estimates.

Debt Issuance Costs Debt issuance costs related to a debt obligation are presented in the consolidated balance sheets as a direct deduction from the carrying amount of the related debt and are amortized over the life of the debt. Amortization of debt issuance costs is included in interest expense in the consolidated statements of operations.

Recently Issued and Adopted Accounting Pronouncements The Company adopted ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, effective July 1, 2025. The adoption did not affect the Company’s consolidated financial position, results of operations or cash flows and resulted in expanded income tax disclosures. In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, as subsequently clarified by ASU 2025-01. The amendments require additional disaggregation of certain expense captions and are effective for annual reporting periods beginning after December 15, 2026 and interim periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted. The Company is evaluating the impact on its disclosures. In July 2025, the FASB issued ASU 2025-05, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets. The amendments provide a practical expedient for estimating expected credit losses on certain current accounts receivable and contract assets and are effective for annual reporting periods beginning after December 15, 2025. The Company is evaluating the impact of the guidance. Other recently issued accounting pronouncements are not expected to have a material effect on the Company’s consolidated financial statements.

NOTE 2 – LIQUIDITY The Company’s primary sources of liquidity are cash on hand and cash flows generated from operations at the Hilton San Francisco Financial District (the “Hotel”). Net cash provided by operating activities was $3,899,000 for the year ended June 30, 2026, compared with net cash used in operating activities of $2,148,000 for the year ended June 30, 2025. Capital expenditures at the Hotel were $2,199,000 during fiscal 2026. As of June 30, 2026, the Company had cash and cash equivalents of $4,982,000, restricted cash of $8,440,000 and marketable securities of $200,000. Restricted cash primarily consists of amounts held in lender-controlled accounts under the Hotel’s financing arrangements and is subject to the applicable cash-management provisions. The Company’s material liquidity requirements include Hotel operating expenses, corporate overhead, debt service, lender-required reserves, capital expenditures and scheduled debt maturities. Senior Mortgage and Mezzanine Financing The Company’s $67,000,000 senior mortgage loan and $36,300,000 mezzanine loan have an initial maturity date of April 9, 2027 and provide for three one-year extension options, subject to specified conditions. As of June 30, 2026, the Company was in compliance with all applicable covenants under the loan agreements. For the first one-year extension of the senior mortgage loan through April 9, 2028, the loan agreement requires, among other conditions, a Debt Service Coverage Ratio (“DSCR”) of at least 1.10:1.00, measured as of the last day of the calendar month immediately preceding the initial maturity date. The loan agreement defines DSCR based on Underwritten Net Cash Flow (“UNCF”) and projected debt service for the succeeding twelve-month period. Based on management’s application of the methodology set forth in the loan agreement, the Company’s calculated DSCR was approximately 1.45:1.00 as of June 30, 2026, compared with the 1.10:1.00 requirement applicable to the first extension. Because UNCF and DSCR are ultimately determined by the lender under the loan agreement, the lender’s calculation may differ from management’s calculation. If the required 1.10:1.00 DSCR is not satisfied at the applicable measurement date, the loan agreement permits the Company to satisfy that condition by depositing additional funds into the lender-controlled Carry Reserve in an amount sufficient to achieve the required DSCR. The loan agreement further provides that no Debt Yield requirement applies to the first extension. Debt Yield requirements of <span id="xdx_902_eus-gaap--DebtInstrumentInterestRateDuringPeriod_pid_dp_uPure_c20250701__20260630__us-gaap--DebtInstrumentAxis__custom--SecondExtensionMember_zjK81ryYPoXc" title="Debt yield requirements, percentage">13% and <span id="xdx_906_eus-gaap--DebtInstrumentInterestRateDuringPeriod_pid_dp_uPure_c20250701__20260630__us-gaap--DebtInstrumentAxis__custom--ThirdExtensionMember_zvy4obo9ivw1" title="Debt yield requirements, percentage">14% apply to the second and third extension periods, respectively. The first extension also requires, among other conditions, the absence of specified defaults or events of default, extension or replacement of the required interest-rate protection through the extension period, and a corresponding extension of the mezzanine loan. Management currently expects to satisfy the applicable conditions and exercise the first one-year extension option. Cash Management Arrangement The lender-controlled cash-management arrangement is separate from the Company’s compliance with its loan covenants and from the conditions applicable to the first extension. Under the senior mortgage loan, release from the cash-management arrangement requires the lender to determine that the Hotel has achieved, for two consecutive quarter-end calculation dates, a Debt Yield of at least 11% and a DSCR of at least 1.10:1.00. Based on management’s application of the methodology set forth in the loan agreement, the Hotel’s calculated trailing-twelve-month DSCR was approximately 1.45:1.00 and its calculated Debt Yield was approximately <span id="xdx_904_eus-gaap--DebtInstrumentInterestRateDuringPeriod_pid_dp_uPure_c20250701__20260630__us-gaap--TypeOfArrangementAxis__custom--LoanAgreementMember_z39qJtDrwy25" title="Debt yield requirements, percentage">13.9% as of June 30, 2026. These calculations exceed the financial thresholds applicable to release from cash management. However, satisfaction of the release conditions is determined by the lender under the loan agreement, and the lender has not confirmed that the applicable release conditions have been satisfied. Accordingly, the cash-management arrangement remained in effect as of June 30, 2026. The continued operation of the cash-management arrangement does not constitute a default or noncompliance with the Company’s loan covenants. Related Party Financing The Company has an unsecured revolving credit facility with its majority shareholder, The InterGroup Corporation (“InterGroup”), with borrowing capacity of up to $40,000,000. The facility bears interest at <span id="xdx_902_eus-gaap--LineOfCreditFacilityInterestRateDuringPeriod_pid_dp_uPure_c20250701__20260630__us-gaap--RelatedPartyTransactionAxis__custom--InterGroupCorporationMember_ziUb8WZbbl1c" title="Facility bears interest, percentage">9%. As of June 30, 2026, $<span id="xdx_90D_eus-gaap--LineOfCreditFacilityAverageOutstandingAmount_c20250701__20260630__us-gaap--RelatedPartyTransactionAxis__custom--InterGroupCorporationMember_zLyeOEeSM2ml" title="Line of credit facility outstanding">38,108,000 was outstanding under the facility, leaving $<span id="xdx_90B_eus-gaap--LineOfCreditFacilityRemainingBorrowingCapacity_iI_c20260630__us-gaap--RelatedPartyTransactionAxis__custom--InterGroupCorporationMember_z1YmFnApdvtg" title="Remaining borrowing capacity">1,892,000 of remaining borrowing capacity. No additional borrowings were made during fiscal 2026. Principal and accrued interest are due at maturity, and no monthly principal or interest payments are required prior to maturity. In August 2026, the Company and InterGroup amended the facility to extend its maturity date from July 31, 2027 to July 31, 2029. All other material terms of the facility remained unchanged. See Note 8 – Related Party and Other Financing Transactions. Liquidity Outlook Management expects to meet the Company’s liquidity requirements through cash on hand, operating cash flows and its existing financing arrangements. As of June 30, 2026, the Company was in compliance with all applicable covenants under its senior mortgage and mezzanine loan agreements, management’s calculated DSCR of approximately 1.45:1.00 exceeded the 1.10:1.00 requirement applicable to the first extension, and management expects to exercise the first one-year extension option. Following the August 2026 extension of the InterGroup facility through July 31, 2029, management believes that the Company’s available liquidity and financing arrangements are sufficient to meet its obligations for at least twelve months following issuance of these consolidated financial statements.

3899000

-2148000

2199000

4982000

8440000

200000

67000000

36300000

2027-04-09

0.13

0.14

0.11

0.139

40000000

0.09

38108000

1892000

NOTE 3 - REVENUE The following table presents the Company’s revenue disaggregated by major revenue streams: SCHEDULE OF REVENUE DISAGGREGATION BY REVENUE STREAMS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">For the years ended June 30,</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20250701__20260630_zuw7zh56DbEc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20240701__20250630_zuKwxRSDl1y8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Hotel revenues:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--HotelRoomsMember_zqtmyBrYKUrd" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left; padding-left: 10pt">Hotel rooms</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">48,396,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">39,648,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__us-gaap--FoodAndBeverageMember_zeMtSjWntfp9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Food and beverage</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,164,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,862,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__us-gaap--ParkingMember_z3DQat31jEh9" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Parking</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,307,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,214,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--OtherOperatingDepartmentsMember_zYnHnhuLGSVg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Other operating departments</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">930,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">639,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zCNJFq5iWvG4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total Hotel revenue</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">55,797,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">46,363,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Contract Assets and Liabilities The Company does not have any material contract assets as of June 30, 2026 and 2025, other than trade and other receivables, net on our consolidated balance sheets. Our receivables are primarily the result of contracts with customers, which are reduced by an allowance for doubtful accounts that reflects our estimate of amounts that will not be collected. The Company records contract liabilities when cash payments are received or due in advance of guests staying at our hotel, which are presented within accounts payable and other liabilities- Hotel on our consolidated balance sheets and had a balance of $505,000 at July 1, 2025. Contract liabilities were $472,000 as of June 30, 2026. The advance deposits received from customers for services to be performed after June 30, 2026. Contract liabilities were $505,000 as of June 30, 2025 compared to $370,000 as of June 30, 2024. The increase for the twelve months ended June 30, 2025 was primarily driven by an increase in advance deposits received from customers for services to be performed after June 30, 2025. Contract Costs The Company applies the practical expedient that permits incremental costs of obtaining a contract, including sales commissions, to be expensed as incurred when the amortization period that otherwise would have applied is one year or less.

The following table presents the Company’s revenue disaggregated by major revenue streams: SCHEDULE OF REVENUE DISAGGREGATION BY REVENUE STREAMS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">For the years ended June 30,</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20250701__20260630_zuw7zh56DbEc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20240701__20250630_zuKwxRSDl1y8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Hotel revenues:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--HotelRoomsMember_zqtmyBrYKUrd" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left; padding-left: 10pt">Hotel rooms</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">48,396,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">39,648,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__us-gaap--FoodAndBeverageMember_zeMtSjWntfp9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Food and beverage</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,164,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,862,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__us-gaap--ParkingMember_z3DQat31jEh9" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Parking</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,307,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,214,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--OtherOperatingDepartmentsMember_zYnHnhuLGSVg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Other operating departments</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">930,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">639,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zCNJFq5iWvG4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total Hotel revenue</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">55,797,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">46,363,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

48396000

39648000

3164000

2862000

3307000

3214000

930000

639000

55797000

46363000

505000

472000

505000

370000

NOTE 4 – INVESTMENT IN HOTEL, NET Investment in Hotel, net, consisted of the following: SCHEDULE OF INVESTMENT, NET <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%"> <tr style="vertical-align: bottom"> <td style="text-align: right"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center">Accumulated</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Net Book</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">June 30, 2026</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Cost</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Depreciation</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Value</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%">Land</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--RealEstateInvestmentPropertyAtCost_iI_pp0p0_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LandMember_z5rAqzCaR8k1" style="width: 14%; text-align: right" title="Cost">1,124,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--RealEstateInvestmentPropertyAccumulatedDepreciation_iNI_pp0p0_di_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LandMember_zC5IVPqtO167" style="width: 14%; text-align: right" title="Accumulated Depreciation">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--RealEstateInvestmentPropertyNet_iI_pp0p0_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LandMember_zdpDFQuD7r9h" style="width: 14%; text-align: right" title="Net Book Value">1,124,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Finance lease right-of-use assets</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--RealEstateInvestmentPropertyAtCost_iI_pp0p0_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--FinanceLeaseRightOfUseAssetsMember_zNIdmg1rQra7" style="text-align: right" title="Cost">1,805,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--RealEstateInvestmentPropertyAccumulatedDepreciation_iNI_pp0p0_di_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--FinanceLeaseRightOfUseAssetsMember_zKqxhcuDl7Ga" style="text-align: right" title="Accumulated Depreciation">(1,777,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--RealEstateInvestmentPropertyNet_iI_pp0p0_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--FinanceLeaseRightOfUseAssetsMember_zTj7tCn51WVd" style="text-align: right" title="Net Book Value">28,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Furniture and equipment</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--RealEstateInvestmentPropertyAtCost_iI_pp0p0_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zvhdQCoO1SBl" style="text-align: right" title="Cost">41,431,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--RealEstateInvestmentPropertyAccumulatedDepreciation_iNI_pp0p0_di_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zcUwpip9HBX" style="text-align: right" title="Accumulated Depreciation">(35,142,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--RealEstateInvestmentPropertyNet_iI_pp0p0_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zTrseKT5lY3k" style="text-align: right" title="Net Book Value">6,289,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Building and improvements</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--RealEstateInvestmentPropertyAtCost_iI_pp0p0_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--BuildingImprovementsMember_zg5QG38PNfoj" style="border-bottom: Black 1pt solid; text-align: right" title="Cost">62,099,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--RealEstateInvestmentPropertyAccumulatedDepreciation_iNI_pp0p0_di_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--BuildingImprovementsMember_zkmc6hJ4267e" style="border-bottom: Black 1pt solid; text-align: right" title="Accumulated Depreciation">(37,198,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--RealEstateInvestmentPropertyNet_iI_pp0p0_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--BuildingImprovementsMember_zfAWeqFKkTXg" style="border-bottom: Black 1pt solid; text-align: right" title="Net Book Value">24,901,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Investment in Hotel, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--RealEstateInvestmentPropertyAtCost_iI_pp0p0_c20260630_zeGsLN4mS4Yg" style="border-bottom: Black 2.5pt double; text-align: right" title="Cost">106,459,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--RealEstateInvestmentPropertyAccumulatedDepreciation_iNI_pp0p0_di_c20260630_zLuiEj5cYJNb" style="border-bottom: Black 2.5pt double; text-align: right" title="Accumulated Depreciation">(74,117,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98D_eus-gaap--RealEstateInvestmentPropertyNet_iI_pp0p0_c20260630_zPr8yYcU2rG3" style="border-bottom: Black 2.5pt double; text-align: right" title="Net Book Value">32,342,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%"> <tr style="vertical-align: bottom"> <td style="text-align: right"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center">Accumulated</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Net Book</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">June 30, 2025</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Cost</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Depreciation</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Value</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%">Land</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--RealEstateInvestmentPropertyAtCost_iI_pp0p0_c20250630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LandMember_ziNfV9eZA5z" style="width: 14%; text-align: right" title="Cost">1,124,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--RealEstateInvestmentPropertyAccumulatedDepreciation_iNI_pp0p0_di_c20250630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LandMember_zee889f3qZzf" style="width: 14%; text-align: right" title="Accumulated Depreciation">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--RealEstateInvestmentPropertyNet_iI_pp0p0_c20250630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LandMember_z133xnL1JNNh" style="width: 14%; text-align: right" title="Net Book Value">1,124,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Finance lease right-of-use assets</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--RealEstateInvestmentPropertyAtCost_iI_pp0p0_c20250630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--FinanceLeaseRightOfUseAssetsMember_z8Ynfa1Huaa1" style="text-align: right" title="Cost">1,805,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--RealEstateInvestmentPropertyAccumulatedDepreciation_iNI_pp0p0_di_c20250630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--FinanceLeaseRightOfUseAssetsMember_zuNpGOssDLEf" style="text-align: right" title="Accumulated Depreciation">(1,665,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--RealEstateInvestmentPropertyNet_iI_pp0p0_c20250630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--FinanceLeaseRightOfUseAssetsMember_zfJXsmNYRZoe" style="text-align: right" title="Net Book Value">140,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Furniture and equipment</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--RealEstateInvestmentPropertyAtCost_iI_pp0p0_c20250630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zbKlL4jFbhe4" style="text-align: right" title="Cost">41,195,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--RealEstateInvestmentPropertyAccumulatedDepreciation_iNI_pp0p0_di_c20250630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zUceIl3v77V3" style="text-align: right" title="Accumulated Depreciation">(33,248,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--RealEstateInvestmentPropertyNet_iI_pp0p0_c20250630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zkVLNZx4ArWe" style="text-align: right" title="Net Book Value">7,947,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Building and improvements</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--RealEstateInvestmentPropertyAtCost_iI_pp0p0_c20250630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--BuildingImprovementsMember_zxW4YQH3dcq1" style="border-bottom: Black 1pt solid; text-align: right" title="Cost">60,136,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--RealEstateInvestmentPropertyAccumulatedDepreciation_iNI_pp0p0_di_c20250630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--BuildingImprovementsMember_z46cEmnTqPwg" style="border-bottom: Black 1pt solid; text-align: right" title="Accumulated Depreciation">(35,564,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--RealEstateInvestmentPropertyNet_iI_pp0p0_c20250630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--BuildingImprovementsMember_znHWvgdnKWTd" style="border-bottom: Black 1pt solid; text-align: right" title="Net Book Value">24,572,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Investment in Hotel, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--RealEstateInvestmentPropertyAtCost_iI_pp0p0_c20250630_zMZSAURnrJ27" style="border-bottom: Black 2.5pt double; text-align: right" title="Cost">104,260,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--RealEstateInvestmentPropertyAccumulatedDepreciation_iNI_pp0p0_di_c20250630_zjzxxVKVrWRb" style="border-bottom: Black 2.5pt double; text-align: right" title="Accumulated Depreciation">(70,477,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98C_eus-gaap--RealEstateInvestmentPropertyNet_iI_pp0p0_c20250630_zPYvzZqqEc0c" style="border-bottom: Black 2.5pt double; text-align: right" title="Net Book Value">33,783,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Furniture and equipment are depreciated on a straight-line basis over estimated useful lives ranging from <span id="xdx_908_eus-gaap--RealEstateAndAccumulatedDepreciationLifeUsedForDepreciation1_iI_dtY_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember__srt--RangeAxis__srt--MinimumMember_zStjnB31e4v5" title="Finance lease ROU assets useful life">3 to <span id="xdx_90D_eus-gaap--RealEstateAndAccumulatedDepreciationLifeUsedForDepreciation1_iI_dtY_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember__srt--RangeAxis__srt--MaximumMember_zfEusjtAxtd3" title="Finance lease ROU assets useful life">7 years. Building and improvements are depreciated on a straight-line basis over estimated useful lives ranging from <span id="xdx_901_eus-gaap--RealEstateAndAccumulatedDepreciationLifeUsedForDepreciation1_iI_dtY_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--BuildingAndBuildingImprovementsMember__srt--RangeAxis__srt--MinimumMember_zOrEO4pPc0D6" title="Finance lease ROU assets useful life">15 to <span id="xdx_906_eus-gaap--RealEstateAndAccumulatedDepreciationLifeUsedForDepreciation1_iI_dtY_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--BuildingAndBuildingImprovementsMember__srt--RangeAxis__srt--MaximumMember_zR434omC5Tyc" title="Finance lease ROU assets useful life">39 years. Finance lease right-of-use assets are amortized over the applicable lease term. Depreciation and amortization expense related to the Hotel was $3,640,000 and $3,534,000 for the years ended June 30, 2026 and 2025, respectively.

Investment in Hotel, net, consisted of the following: SCHEDULE OF INVESTMENT, NET <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%"> <tr style="vertical-align: bottom"> <td style="text-align: right"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center">Accumulated</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Net Book</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">June 30, 2026</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Cost</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Depreciation</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Value</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%">Land</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--RealEstateInvestmentPropertyAtCost_iI_pp0p0_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LandMember_z5rAqzCaR8k1" style="width: 14%; text-align: right" title="Cost">1,124,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--RealEstateInvestmentPropertyAccumulatedDepreciation_iNI_pp0p0_di_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LandMember_zC5IVPqtO167" style="width: 14%; text-align: right" title="Accumulated Depreciation">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--RealEstateInvestmentPropertyNet_iI_pp0p0_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LandMember_zdpDFQuD7r9h" style="width: 14%; text-align: right" title="Net Book Value">1,124,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Finance lease right-of-use assets</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--RealEstateInvestmentPropertyAtCost_iI_pp0p0_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--FinanceLeaseRightOfUseAssetsMember_zNIdmg1rQra7" style="text-align: right" title="Cost">1,805,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--RealEstateInvestmentPropertyAccumulatedDepreciation_iNI_pp0p0_di_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--FinanceLeaseRightOfUseAssetsMember_zKqxhcuDl7Ga" style="text-align: right" title="Accumulated Depreciation">(1,777,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--RealEstateInvestmentPropertyNet_iI_pp0p0_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--FinanceLeaseRightOfUseAssetsMember_zTj7tCn51WVd" style="text-align: right" title="Net Book Value">28,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Furniture and equipment</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--RealEstateInvestmentPropertyAtCost_iI_pp0p0_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zvhdQCoO1SBl" style="text-align: right" title="Cost">41,431,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--RealEstateInvestmentPropertyAccumulatedDepreciation_iNI_pp0p0_di_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zcUwpip9HBX" style="text-align: right" title="Accumulated Depreciation">(35,142,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--RealEstateInvestmentPropertyNet_iI_pp0p0_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zTrseKT5lY3k" style="text-align: right" title="Net Book Value">6,289,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Building and improvements</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--RealEstateInvestmentPropertyAtCost_iI_pp0p0_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--BuildingImprovementsMember_zg5QG38PNfoj" style="border-bottom: Black 1pt solid; text-align: right" title="Cost">62,099,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--RealEstateInvestmentPropertyAccumulatedDepreciation_iNI_pp0p0_di_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--BuildingImprovementsMember_zkmc6hJ4267e" style="border-bottom: Black 1pt solid; text-align: right" title="Accumulated Depreciation">(37,198,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--RealEstateInvestmentPropertyNet_iI_pp0p0_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--BuildingImprovementsMember_zfAWeqFKkTXg" style="border-bottom: Black 1pt solid; text-align: right" title="Net Book Value">24,901,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Investment in Hotel, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--RealEstateInvestmentPropertyAtCost_iI_pp0p0_c20260630_zeGsLN4mS4Yg" style="border-bottom: Black 2.5pt double; text-align: right" title="Cost">106,459,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--RealEstateInvestmentPropertyAccumulatedDepreciation_iNI_pp0p0_di_c20260630_zLuiEj5cYJNb" style="border-bottom: Black 2.5pt double; text-align: right" title="Accumulated Depreciation">(74,117,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98D_eus-gaap--RealEstateInvestmentPropertyNet_iI_pp0p0_c20260630_zPr8yYcU2rG3" style="border-bottom: Black 2.5pt double; text-align: right" title="Net Book Value">32,342,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%"> <tr style="vertical-align: bottom"> <td style="text-align: right"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center">Accumulated</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Net Book</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">June 30, 2025</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Cost</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Depreciation</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Value</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%">Land</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--RealEstateInvestmentPropertyAtCost_iI_pp0p0_c20250630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LandMember_ziNfV9eZA5z" style="width: 14%; text-align: right" title="Cost">1,124,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--RealEstateInvestmentPropertyAccumulatedDepreciation_iNI_pp0p0_di_c20250630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LandMember_zee889f3qZzf" style="width: 14%; text-align: right" title="Accumulated Depreciation">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--RealEstateInvestmentPropertyNet_iI_pp0p0_c20250630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LandMember_z133xnL1JNNh" style="width: 14%; text-align: right" title="Net Book Value">1,124,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Finance lease right-of-use assets</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--RealEstateInvestmentPropertyAtCost_iI_pp0p0_c20250630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--FinanceLeaseRightOfUseAssetsMember_z8Ynfa1Huaa1" style="text-align: right" title="Cost">1,805,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--RealEstateInvestmentPropertyAccumulatedDepreciation_iNI_pp0p0_di_c20250630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--FinanceLeaseRightOfUseAssetsMember_zuNpGOssDLEf" style="text-align: right" title="Accumulated Depreciation">(1,665,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--RealEstateInvestmentPropertyNet_iI_pp0p0_c20250630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--FinanceLeaseRightOfUseAssetsMember_zfJXsmNYRZoe" style="text-align: right" title="Net Book Value">140,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Furniture and equipment</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--RealEstateInvestmentPropertyAtCost_iI_pp0p0_c20250630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zbKlL4jFbhe4" style="text-align: right" title="Cost">41,195,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--RealEstateInvestmentPropertyAccumulatedDepreciation_iNI_pp0p0_di_c20250630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zUceIl3v77V3" style="text-align: right" title="Accumulated Depreciation">(33,248,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--RealEstateInvestmentPropertyNet_iI_pp0p0_c20250630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zkVLNZx4ArWe" style="text-align: right" title="Net Book Value">7,947,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Building and improvements</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--RealEstateInvestmentPropertyAtCost_iI_pp0p0_c20250630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--BuildingImprovementsMember_zxW4YQH3dcq1" style="border-bottom: Black 1pt solid; text-align: right" title="Cost">60,136,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--RealEstateInvestmentPropertyAccumulatedDepreciation_iNI_pp0p0_di_c20250630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--BuildingImprovementsMember_z46cEmnTqPwg" style="border-bottom: Black 1pt solid; text-align: right" title="Accumulated Depreciation">(35,564,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--RealEstateInvestmentPropertyNet_iI_pp0p0_c20250630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--BuildingImprovementsMember_znHWvgdnKWTd" style="border-bottom: Black 1pt solid; text-align: right" title="Net Book Value">24,572,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Investment in Hotel, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--RealEstateInvestmentPropertyAtCost_iI_pp0p0_c20250630_zMZSAURnrJ27" style="border-bottom: Black 2.5pt double; text-align: right" title="Cost">104,260,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--RealEstateInvestmentPropertyAccumulatedDepreciation_iNI_pp0p0_di_c20250630_zjzxxVKVrWRb" style="border-bottom: Black 2.5pt double; text-align: right" title="Accumulated Depreciation">(70,477,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98C_eus-gaap--RealEstateInvestmentPropertyNet_iI_pp0p0_c20250630_zPYvzZqqEc0c" style="border-bottom: Black 2.5pt double; text-align: right" title="Net Book Value">33,783,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

1124000

1805000

1777000

28000

41431000

35142000

6289000

62099000

37198000

24901000

106459000

74117000

32342000

1124000

1805000

1665000

140000

41195000

33248000

7947000

60136000

35564000

24572000

104260000

70477000

33783000

P3Y

P7Y

P15Y

P39Y

3640000

3534000

<p id="xdx_80A_eus-gaap--InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock_zT12bPCUvzS" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">NOTE 5 - INVESTMENT IN MARKETABLE SECURITIES The Company’s marketable equity securities are measured at fair value recognized in earnings. Marketable securities consisted of the following: SCHEDULE OF MARKETABLE SECURITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid">Investment</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Cost</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Cumulative Unrealized Gain</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Fair Value</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">As of June 30, 2026</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left; padding-bottom: 2.5pt">Corporate equities</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--TradingSecuritiesDebtAmortizedCost_iI_c20260630__us-gaap--FinancialInstrumentAxis__us-gaap--EquitySecuritiesMember_zomr3k0bbIX3" style="border-bottom: Black 2.5pt double; width: 14%; text-align: right" title="Cost">112,000</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--DebtSecuritiesTradingUnrealizedGain_pp0p0_c20250701__20260630__us-gaap--FinancialInstrumentAxis__us-gaap--EquitySecuritiesMember_zj3AWlUwEyEa" style="border-bottom: Black 2.5pt double; width: 14%; text-align: right" title="Cumulative Unrealized Gain">88,000</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--TradingSecuritiesDebt_iI_c20260630__us-gaap--FinancialInstrumentAxis__us-gaap--EquitySecuritiesMember_zCZEiKheDBoa" style="border-bottom: Black 2.5pt double; width: 14%; text-align: right" title="Fair Value">200,000</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: right"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">As of June 30, 2025</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Corporate equities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--TradingSecuritiesDebtAmortizedCost_iI_c20250630__us-gaap--FinancialInstrumentAxis__us-gaap--EquitySecuritiesMember_zbPaAysIvBX4" style="border-bottom: Black 2.5pt double; text-align: right" title="Cost">112,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--DebtSecuritiesTradingUnrealizedGain_pp0p0_c20240701__20250630__us-gaap--FinancialInstrumentAxis__us-gaap--EquitySecuritiesMember_zosvLKTtK1V3" style="border-bottom: Black 2.5pt double; text-align: right" title="Cumulative Unrealized Gain">15,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98C_eus-gaap--TradingSecuritiesDebt_iI_c20250630__us-gaap--FinancialInstrumentAxis__us-gaap--EquitySecuritiesMember_zTRC4gBjy374" style="border-bottom: Black 2.5pt double; text-align: right" title="Fair Value">127,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Net gain on marketable securities recognized in earnings consisted of the following: SCHEDULE OF NET GAIN ON MARKETABLE SECURITIES COMPRISING OF REALIZED AND UNREALIZED GAIN LOSSES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">For the years ended June 30,</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20250701__20260630_zwwFLgaCkxFk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20240701__20250630_zifRNZ9NdHy4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--MarketableSecuritiesRealizedGainLossExcludingOtherThanTemporaryImpairments_maMSGLIz6ir_zRm1XxGhtIA8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Realized loss on marketable securities</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(10,000</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--MarketableSecuritiesUnrealizedGainLoss_maMSGLIz6ir_z92zNLhYxnwg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Unrealized gain on marketable securities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">73,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">13,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--MarketableSecuritiesGainLossExcludingOtherThanTemporaryImpairments_iT_mtMSGLIz6ir_zbacCws2661j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Net gain on marketable securities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">73,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

Marketable securities consisted of the following: SCHEDULE OF MARKETABLE SECURITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid">Investment</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Cost</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Cumulative Unrealized Gain</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Fair Value</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">As of June 30, 2026</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left; padding-bottom: 2.5pt">Corporate equities</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--TradingSecuritiesDebtAmortizedCost_iI_c20260630__us-gaap--FinancialInstrumentAxis__us-gaap--EquitySecuritiesMember_zomr3k0bbIX3" style="border-bottom: Black 2.5pt double; width: 14%; text-align: right" title="Cost">112,000</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--DebtSecuritiesTradingUnrealizedGain_pp0p0_c20250701__20260630__us-gaap--FinancialInstrumentAxis__us-gaap--EquitySecuritiesMember_zj3AWlUwEyEa" style="border-bottom: Black 2.5pt double; width: 14%; text-align: right" title="Cumulative Unrealized Gain">88,000</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--TradingSecuritiesDebt_iI_c20260630__us-gaap--FinancialInstrumentAxis__us-gaap--EquitySecuritiesMember_zCZEiKheDBoa" style="border-bottom: Black 2.5pt double; width: 14%; text-align: right" title="Fair Value">200,000</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: right"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">As of June 30, 2025</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Corporate equities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--TradingSecuritiesDebtAmortizedCost_iI_c20250630__us-gaap--FinancialInstrumentAxis__us-gaap--EquitySecuritiesMember_zbPaAysIvBX4" style="border-bottom: Black 2.5pt double; text-align: right" title="Cost">112,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--DebtSecuritiesTradingUnrealizedGain_pp0p0_c20240701__20250630__us-gaap--FinancialInstrumentAxis__us-gaap--EquitySecuritiesMember_zosvLKTtK1V3" style="border-bottom: Black 2.5pt double; text-align: right" title="Cumulative Unrealized Gain">15,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98C_eus-gaap--TradingSecuritiesDebt_iI_c20250630__us-gaap--FinancialInstrumentAxis__us-gaap--EquitySecuritiesMember_zTRC4gBjy374" style="border-bottom: Black 2.5pt double; text-align: right" title="Fair Value">127,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

112000

88000

200000

112000

15000

127000

Net gain on marketable securities recognized in earnings consisted of the following: SCHEDULE OF NET GAIN ON MARKETABLE SECURITIES COMPRISING OF REALIZED AND UNREALIZED GAIN LOSSES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">For the years ended June 30,</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20250701__20260630_zwwFLgaCkxFk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20240701__20250630_zifRNZ9NdHy4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--MarketableSecuritiesRealizedGainLossExcludingOtherThanTemporaryImpairments_maMSGLIz6ir_zRm1XxGhtIA8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Realized loss on marketable securities</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(10,000</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--MarketableSecuritiesUnrealizedGainLoss_maMSGLIz6ir_z92zNLhYxnwg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Unrealized gain on marketable securities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">73,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">13,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--MarketableSecuritiesGainLossExcludingOtherThanTemporaryImpairments_iT_mtMSGLIz6ir_zbacCws2661j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Net gain on marketable securities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">73,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

-10000

73000

13000

73000

3000

NOTE 6 - FAIR VALUE MEASUREMENTS Fair value measurements are classified within a three-level hierarchy based on the observability of the inputs used. Level 1 inputs are quoted prices in active markets for identical assets or liabilities; Level 2 inputs are observable inputs other than Level 1 quoted prices; and Level 3 inputs are significant unobservable inputs. Assets measured at fair value on a recurring consisted of the following: SCHEDULE OF FAIR VALUE, ASSETS MEASURED ON RECURRING BASIS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">June 30, 2026</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20260630__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zScBaRooQZn5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20260630__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zRR0mKeRrSK8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20260630__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zHnSatLMnp0k" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20260630__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zItvrTRl5oI9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_eus-gaap--TradingSecurities_iI_hus-gaap--FinancialInstrumentAxis__us-gaap--EquitySecuritiesMember_zuing4CU6CA" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: left">Marketable equity securities</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">200,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">200,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--TradingSecurities_iI_hus-gaap--FinancialInstrumentAxis__us-gaap--InterestRateCapMember_zNK6lpV5HmH4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Interest rate cap</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">23,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">23,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--TradingSecurities_iI_zna6nGoLulN9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Total</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">223,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">200,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">23,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">June 30, 2025</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20250630__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zbOhpNSInCU4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20250630__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zd9b7kY2Yzi5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20250630__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zfTTGqaBARse" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20250630__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zIn4GiCt2ZTb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_eus-gaap--TradingSecurities_iI_hus-gaap--FinancialInstrumentAxis__us-gaap--EquitySecuritiesMember_z1ea2ag6VZI9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: left">Marketable equity securities</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">127,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">127,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--TradingSecurities_iI_hus-gaap--FinancialInstrumentAxis__us-gaap--InterestRateCapMember_ztXoPl97Yl9k" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Interest rate cap</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">52,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">52,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--TradingSecurities_iI_zwSF2ZrUUgel" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Total</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">179,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">127,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">52,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> </table> Marketable equity securities are classified within Level 1 because their fair values are based on quoted prices in active markets for identical securities. See Note 5 – Investment in Marketable Securities. The Interest Rate Cap is classified within Level 2 because its fair value is determined using observable market inputs, including forward Term SOFR curves and implied volatility assumptions obtained from a third-party pricing service. The Interest Rate Cap is not designated as a hedging instrument, and changes in its fair value are recognized in earnings. The Interest Rate Cap had a notional amount of $<span id="xdx_90A_eus-gaap--DerivativeNotionalAmount_iI_c20260630__us-gaap--DerivativeInstrumentRiskAxis__us-gaap--InterestRateCapMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zeoXWIg1KA37" title="Notional amount"><span id="xdx_906_eus-gaap--DerivativeNotionalAmount_iI_c20250630__us-gaap--DerivativeInstrumentRiskAxis__us-gaap--InterestRateCapMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zIsCS9P6ZIF3" title="Notional amount">67,000,000 as of June 30, 2026 and 2025 and is included in other assets in the consolidated balance sheets. See Note 9 – Mortgage and Mezzanine Loans. There have been no material changes to the Company’s fair value measurement methodologies or classification of instruments during the periods presented.

Assets measured at fair value on a recurring consisted of the following: SCHEDULE OF FAIR VALUE, ASSETS MEASURED ON RECURRING BASIS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">June 30, 2026</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20260630__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zScBaRooQZn5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20260630__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zRR0mKeRrSK8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20260630__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zHnSatLMnp0k" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20260630__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zItvrTRl5oI9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_eus-gaap--TradingSecurities_iI_hus-gaap--FinancialInstrumentAxis__us-gaap--EquitySecuritiesMember_zuing4CU6CA" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: left">Marketable equity securities</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">200,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">200,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--TradingSecurities_iI_hus-gaap--FinancialInstrumentAxis__us-gaap--InterestRateCapMember_zNK6lpV5HmH4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Interest rate cap</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">23,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">23,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--TradingSecurities_iI_zna6nGoLulN9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Total</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">223,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">200,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">23,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">June 30, 2025</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20250630__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zbOhpNSInCU4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20250630__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zd9b7kY2Yzi5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20250630__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zfTTGqaBARse" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20250630__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zIn4GiCt2ZTb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_eus-gaap--TradingSecurities_iI_hus-gaap--FinancialInstrumentAxis__us-gaap--EquitySecuritiesMember_z1ea2ag6VZI9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: left">Marketable equity securities</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">127,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">127,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--TradingSecurities_iI_hus-gaap--FinancialInstrumentAxis__us-gaap--InterestRateCapMember_ztXoPl97Yl9k" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Interest rate cap</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">52,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">52,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--TradingSecurities_iI_zwSF2ZrUUgel" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Total</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">179,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">127,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">52,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> </table>

200000

23000

223000

200000

23000

127000

52000

179000

127000

52000

67000000

NOTE 7 – OTHER ASSETS Other assets consist of the following as of June 30: SCHEDULE OF OTHER ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 85%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="text-align: right"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20260630_zOAyy9D5tgDi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20250630_z6qygfU1oTig" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_401_eus-gaap--InventoryNet_iI_pp0p0_maOAzqwD_zHKQtndBFUbi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Hotel inventory</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">39,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">42,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--PrepaidExpenseCurrentAndNoncurrent_iI_pp0p0_maOAzqwD_zy7BNoumDxDc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Prepaid expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">394,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">572,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--OtherAssetsMiscellaneous_iI_pp0p0_maOAzqwD_zvxCpJ4nUIhk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Miscellaneous assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">288,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">277,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--OtherAssets_iTI_pp0p0_mtOAzqwD_zYEIbRGCrvv7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total other assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">721,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">891,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

Other assets consist of the following as of June 30: SCHEDULE OF OTHER ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 85%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="text-align: right"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20260630_zOAyy9D5tgDi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20250630_z6qygfU1oTig" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_401_eus-gaap--InventoryNet_iI_pp0p0_maOAzqwD_zHKQtndBFUbi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Hotel inventory</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">39,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">42,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--PrepaidExpenseCurrentAndNoncurrent_iI_pp0p0_maOAzqwD_zy7BNoumDxDc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Prepaid expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">394,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">572,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--OtherAssetsMiscellaneous_iI_pp0p0_maOAzqwD_zvxCpJ4nUIhk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Miscellaneous assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">288,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">277,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--OtherAssets_iTI_pp0p0_mtOAzqwD_zYEIbRGCrvv7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total other assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">721,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">891,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

39000

42000

394000

572000

288000

277000

721000

891000

NOTE 8 – RELATED PARTY AND OTHER FINANCING TRANSACTIONS Related party and other notes payable consisted of the following: SCHEDULE OF RELATED PARTY AND OTHER NOTES PAYABLE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">As of June 30,</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20260630_zRXIvsVvLXEh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20250630_zTvPLGm7HpYc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_ecustom--NotesPayableAndOtherNotePayable_iI_pp0p0_hdei--LegalEntityAxis__custom--RelatedPartyNotePayableInterGroupMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zHIjjyhWL1c1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Related party note payable - InterGroup</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">38,108,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">38,108,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--NotesPayableAndOtherNotePayable_iI_pp0p0_hdei--LegalEntityAxis__custom--OtherNotePayableHiltonMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zboyAHznTl5l" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Other note payable - Hilton</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,267,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,583,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--NotesPayableAndOtherNotePayable_iI_pp0p0_hdei--LegalEntityAxis__custom--OtherNotePayableAimbridgeMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zEejyKV8Nrpb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Other note payable - Aimbridge</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">146,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">396,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_ecustom--NotesPayableAndOtherNotePayable_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_z1TdPhpLBTO2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total related party and other notes payable</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">39,521,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">40,087,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_402_ecustom--NotesPayableAndOtherNotePayable_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zw2BYgamRee5" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Related party and other notes payable</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">39,521,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">40,087,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> InterGroup Credit Facility The Company has an unsecured revolving credit facility with its majority shareholder, The InterGroup Corporation (“InterGroup”), with borrowing capacity of up to $40,000,000. The facility bears interest at <span id="xdx_90B_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--LongtermDebtTypeAxis__us-gaap--UnsecuredDebtMember_zl5U3JQ8Q171" title="Debt instrument, interest rate, stated percentage">9%, may be prepaid without penalty, and had a contractual maturity date of July 31, 2027 as of June 30, 2026. Principal and accrued interest are due at maturity, and no monthly principal or interest payments are required prior to maturity. During the years ended June 30, 2026 and 2025, the Company borrowed $0 and $11,615,000, respectively, under the facility. The outstanding principal balance was $38,108,000 as of both June 30, 2026 and 2025, leaving $1,892,000 of available borrowing capacity as of June 30, 2026. Interest expense related to the InterGroup facility was $<span id="xdx_902_eus-gaap--InterestExpenseNonoperating_c20250701__20260630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zjUA8Vi9ptfl" title="Interest expense - related party">3,437,000 and $<span id="xdx_905_eus-gaap--InterestExpenseNonoperating_c20240701__20250630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_za3sCYAgqJTd" title="Interest expense - related party">3,570,000 for the years ended June 30, 2026 and 2025, respectively. In August 2026, the Company and InterGroup amended the facility to extend its maturity date from July 31, 2027 to July 31, 2029. All other material terms of the facility remained unchanged. Hilton Development Incentive Note The note payable to Hilton represents an interest-free development incentive note that is reduced by approximately $<span id="xdx_907_eus-gaap--NotesReduction_pp0p0_c20250701__20260630__us-gaap--DebtInstrumentAxis__custom--InterestFreeDevelopmentIncentiveNoteMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--HiltonMember_zJ7hFmqKvR71" title="Notes reduced">317,000 annually through 2030, subject to the Hotel remaining a Hilton franchisee. The outstanding balance was $1,267,000 and $1,583,000 as of June 30, 2026 and 2025, respectively. Aimbridge Key Money Operating received a $<span id="xdx_909_ecustom--KeyMoneyIncentiveAdvanceToRelatedParty_c20250701__20260630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AimbridgeKeyMoneyMember_zmm8QvKAclQg" title="Key money incentive advance to related party">2,000,000 key-money contribution from Aimbridge under the Hotel management arrangement. The contribution is amortized in equal monthly amounts over an eight-year period beginning on the second anniversary of Aimbridge’s commencement of management services. The unamortized balance was $146,000 and $396,000 as of June 30, 2026 and 2025, respectively, and is included in other notes payable in the consolidated balance sheets. See Note 10 – Management Agreements. Contractual Maturities and Scheduled Reductions Contractual maturities and scheduled reductions of related party and other notes payable as of June 30, 2026 were as follows: SCHEDULE OF CONTRACTUAL MATURITIES AND SCHEDULED REDUCTIONS OF RELATED PARTY AND OTHER NOTES PAYABLE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="font-weight: bold">For the years ending June 30,</td><td> </td> <td colspan="2" id="xdx_499_20260630__us-gaap--LongtermDebtTypeAxis__custom--RelatedPartyNotesPayableMember_zl8JvmAYqWOb"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_406_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_pp0p0_maLTDz9Zo_zsGis9vTtHU4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: center">2027</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">463,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_iI_pp0p0_maLTDz9Zo_zDitImYAJcN8" style="vertical-align: bottom; background-color: White"> <td style="text-align: center">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">317,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_iI_pp0p0_maLTDz9Zo_zVmSmaq0NOPb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">2029</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">317,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_iI_pp0p0_maLTDz9Zo_zM4OpxuF5DOb" style="vertical-align: bottom; background-color: White"> <td style="text-align: center">2030</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">38,424,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_iI_pp0p0_maLTDz9Zo_zFK1tRpFe4Id" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">2031</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_iI_pp0p0_maLTDz9Zo_zvshF94SEKM1" style="vertical-align: bottom; background-color: White"> <td style="text-align: center; padding-bottom: 1pt">Thereafter</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LongTermDebt_iTI_pp0p0_mtLTDz9Zo_z42hs5Whyml3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Related party and other notes payable</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">39,521,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The table above reflects contractual terms in effect as of June 30, 2026 and therefore does not give effect to the subsequent extension of the InterGroup facility described above. Other Amounts Due to InterGroup Accounts payable to InterGroup were $<span id="xdx_905_eus-gaap--AccountsPayableCurrentAndNoncurrent_iI_c20260630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zLoakIe1Lckg" title="Accounts payable to related party">21,300,000 and $<span id="xdx_904_eus-gaap--AccountsPayableCurrentAndNoncurrent_iI_c20250630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zDOpDqboCj5h" title="Accounts payable to related party">16,634,000 as of June 30, 2026 and 2025, respectively, and consisted primarily of accrued interest and allocated or shared costs and expenses. Certain administrative, rent, insurance and other shared costs are allocated between the Company and InterGroup based on management’s estimate of the relative use of the applicable resources. Amounts allocated to the Company were $<span id="xdx_904_eus-gaap--RelatedPartyTransactionAmountsOfTransaction_c20250701__20260630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zQzzWQuidAK7" title="Amount allocated for related party">0 and $<span id="xdx_909_eus-gaap--RelatedPartyTransactionAmountsOfTransaction_c20240701__20250630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zMSbLdMiTAWh" title="Amount allocated for related party">144,000 for the years ended June 30, 2026 and 2025, respectively. Certain directors and executive officers of the Company also serve as directors or executive officers of InterGroup.

Related party and other notes payable consisted of the following: SCHEDULE OF RELATED PARTY AND OTHER NOTES PAYABLE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">As of June 30,</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20260630_zRXIvsVvLXEh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20250630_zTvPLGm7HpYc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_ecustom--NotesPayableAndOtherNotePayable_iI_pp0p0_hdei--LegalEntityAxis__custom--RelatedPartyNotePayableInterGroupMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zHIjjyhWL1c1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Related party note payable - InterGroup</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">38,108,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">38,108,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--NotesPayableAndOtherNotePayable_iI_pp0p0_hdei--LegalEntityAxis__custom--OtherNotePayableHiltonMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zboyAHznTl5l" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Other note payable - Hilton</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,267,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,583,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--NotesPayableAndOtherNotePayable_iI_pp0p0_hdei--LegalEntityAxis__custom--OtherNotePayableAimbridgeMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zEejyKV8Nrpb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Other note payable - Aimbridge</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">146,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">396,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_ecustom--NotesPayableAndOtherNotePayable_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_z1TdPhpLBTO2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total related party and other notes payable</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">39,521,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">40,087,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_402_ecustom--NotesPayableAndOtherNotePayable_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zw2BYgamRee5" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Related party and other notes payable</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">39,521,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">40,087,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

38108000 38108000 1267000 1583000 146000 396000 39521000 40087000 39521000 40087000

40000000

0.09

2027-07-31

11615000

38108000

1892000

3437000

3570000

317000

1267000 1583000 2000000 146000 396000

Contractual maturities and scheduled reductions of related party and other notes payable as of June 30, 2026 were as follows: SCHEDULE OF CONTRACTUAL MATURITIES AND SCHEDULED REDUCTIONS OF RELATED PARTY AND OTHER NOTES PAYABLE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="font-weight: bold">For the years ending June 30,</td><td> </td> <td colspan="2" id="xdx_499_20260630__us-gaap--LongtermDebtTypeAxis__custom--RelatedPartyNotesPayableMember_zl8JvmAYqWOb"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_406_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_pp0p0_maLTDz9Zo_zsGis9vTtHU4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: center">2027</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">463,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_iI_pp0p0_maLTDz9Zo_zDitImYAJcN8" style="vertical-align: bottom; background-color: White"> <td style="text-align: center">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">317,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_iI_pp0p0_maLTDz9Zo_zVmSmaq0NOPb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">2029</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">317,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_iI_pp0p0_maLTDz9Zo_zM4OpxuF5DOb" style="vertical-align: bottom; background-color: White"> <td style="text-align: center">2030</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">38,424,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_iI_pp0p0_maLTDz9Zo_zFK1tRpFe4Id" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">2031</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_iI_pp0p0_maLTDz9Zo_zvshF94SEKM1" style="vertical-align: bottom; background-color: White"> <td style="text-align: center; padding-bottom: 1pt">Thereafter</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LongTermDebt_iTI_pp0p0_mtLTDz9Zo_z42hs5Whyml3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Related party and other notes payable</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">39,521,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

463000

317000

38424000

39521000

21300000

16634000

144000

NOTE 9 – MORTGAGE AND MEZZANINE LOANS Current Senior Mortgage and Mezzanine Loans On March 28, 2025, Justice Operating Company, LLC (“Operating”) entered into a $67,000,000 senior mortgage loan with Prime Finance Short Duration Holding Company 9, LLC (“Prime”), and Justice Mezzanine Company, LLC (“Mezzanine”) amended and restated its mezzanine loan with CRED REIT Holdco LLC in the principal amount of $36,300,000. The prior senior mortgage loan was repaid in full in connection with the refinancing. The senior mortgage loan bears interest at a floating rate equal to the greater of <span id="xdx_904_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_c20260630__us-gaap--DebtInstrumentAxis__custom--SeniorMortgageLoanMember_zkxyeywTiu1c" title="Debt instrument, interest rate, stated percentage">7.65% or Term SOFR plus <span id="xdx_90D_ecustom--DebtInstrumentInterestTermSecuredOvernightFinancingRate_iI_pid_dp_c20260630__us-gaap--DebtInstrumentAxis__custom--SeniorMortgageLoanMember_zHCBgygSKRUk" title="SOFR term interest rate percentage">4.75% and is interest-only through its initial maturity date of April 9, 2027. The loan is secured by the Hotel. Operating is required to maintain interest-rate protection that currently caps Term SOFR at <span id="xdx_902_ecustom--DebtInstrumentInterestCappedSecuredOvernightFinancingRate_iI_pid_dp_c20260630__us-gaap--DebtInstrumentAxis__custom--SeniorMortgageLoanMember_zixANKqB1u52" title="SOFR cappped interest rate percentage">4.50%. See Note 6 – Fair Value Measurements. The mezzanine loan bears interest at a fixed rate of <span id="xdx_904_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_c20260630__us-gaap--DebtInstrumentAxis__custom--MezzanineLoanMember_zOqgnqA9byIl" title="Debt instrument, interest rate, stated percentage">7.25% through March 28, 2027 and <span id="xdx_908_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_pid_dp_c20260630__us-gaap--DebtInstrumentAxis__custom--MezzanineLoanMember_zYmNjLFfZGd2" title="Debt instrument, interest rate percentage">11.25% beginning March 29, 2027. It has an initial maturity date of April 9, 2027 and is secured by Mezzanine’s ownership interests in the entity that directly or indirectly owns Operating. Extension Options The senior mortgage and mezzanine loan agreements provide for three one-year extension options through April 9, 2028, April 9, 2029 and April 9, 2030, subject to satisfaction of specified conditions. Notice of an extension must generally be provided not less than 30 days and not more than 90 days before the then-scheduled maturity date. For the first extension through April 9, 2028, the senior mortgage loan requires, among other conditions, a Debt Service Coverage Ratio (“DSCR”) of at least 1.10:1.00, calculated as of the last day of the calendar month immediately preceding the initial maturity date. The loan agreement expressly provides that no Debt Yield requirement applies to the first extension. If DSCR is below 1.10:1.00 at the applicable first-extension measurement date, Operating may satisfy the DSCR condition by depositing additional funds into the lender-controlled Carry Reserve in an amount sufficient to achieve a pro forma DSCR of at least 1.10:1.00, provided the other extension conditions are satisfied or waived. The second and third senior-loan extensions are subject to Debt Yield requirements of 13% and 14% and DSCR requirements of 1.40:1.00 and 1.50:1.00, respectively, together with the other conditions specified in the loan agreement. The mezzanine loan contains corresponding extension provisions, including the requirement that the senior mortgage loan be extended. As of June 30, 2026, the Company was in compliance with all applicable covenants under the senior mortgage and mezzanine loan agreements. Based on management’s application of the methodology set forth in the senior loan agreement, the Company’s calculated DSCR was approximately 1.45:1.00 as of June 30, 2026, compared with the 1.10:1.00 requirement applicable to the first extension. Management currently expects to exercise the first extension option. See Note 2 – Liquidity. Cash Management Arrangement Under the March 28, 2025, senior mortgage loan, Hotel cash receipts are deposited into lender-controlled accounts pursuant to a cash-management arrangement. Release from the cash-management arrangement requires, among other conditions, Prime’s determination that the Hotel has achieved a Debt Yield of at least 11% and a DSCR of at least 1.10:1.00 for two consecutive applicable calculation dates. Based on management’s application of the loan-agreement methodology, the Hotel’s calculated trailing-twelve-month DSCR and Debt Yield were approximately 1.45:1.00 and 13.9%, respectively, as of June 30, 2026. However, satisfaction of the cash-management release conditions is determined by Prime, and Prime had not confirmed that the applicable release conditions had been satisfied. Accordingly, the cash-management arrangement remained in effect as of June 30, 2026. The continued operation of the cash-management arrangement does not constitute a default or noncompliance with the Company’s loan covenants. Funds in the cash-management arrangement are applied to operating expenses, debt service, lender-required reserves and other amounts in accordance with the applicable loan documents. 2025 Debt Extinguishment The March 2025 amendment and restatement of the mezzanine loan was accounted for as a debt extinguishment under ASC 470-50 Debt Modifications and Extinguishments. In connection with the transaction, CRED REIT Holdco LLC waived a $245,000 deferred forbearance fee and approximately $1,171,000 of accrued default interest. The Company recognized a gain on extinguishment of debt of approximately $1,416,000 during the year ended June 30, 2025. Limited Guaranties Portsmouth and InterGroup each provide limited guaranties of specified recourse obligations under the senior mortgage and mezzanine loan documents. Loan Balances SCHEDULE OF LOAN BALANCES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center; padding-bottom: 1pt; vertical-align: top"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49D_20260630_zrT4Qnlp6Yqd" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">June 30, 2026</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_492_20250630_zLNPhNnOaTEj" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">June 30, 2025</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Interest Rate</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Initial Maturity</td></tr> <tr id="xdx_402_ecustom--SeniorMortgageLoan_iI_z03IGGeHOzK5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; width: 28%; text-align: left; padding-left: 0.75pt">Senior mortgage loan</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">67,000,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">67,000,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 24%; text-align: left; padding-left: 0.75pt">Greater of <span id="xdx_906_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_c20260630__us-gaap--DebtInstrumentAxis__custom--SeniorMortgageLoanMember_zVNE0k9RDk0j" title="Debt instrument, interest rate, stated percentage"><span id="xdx_90B_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_c20250630__us-gaap--DebtInstrumentAxis__custom--SeniorMortgageLoanMember_zTR1KTfc0Kp3" title="Debt instrument, interest rate, stated percentage">7.65% or Term SOFR + <span id="xdx_902_ecustom--DebtInstrumentInterestTermSecuredOvernightFinancingRate_iI_pid_dp_c20260630__us-gaap--DebtInstrumentAxis__custom--SeniorMortgageLoanMember_zONwDpTaON52" title="SOFR term interest rate percentage"><span id="xdx_90B_ecustom--DebtInstrumentInterestTermSecuredOvernightFinancingRate_iI_pid_dp_c20250630__us-gaap--DebtInstrumentAxis__custom--SeniorMortgageLoanMember_zrFMPlGkY2uc" title="SOFR term interest rate percentage">4.75%; SOFR capped at <span id="xdx_900_ecustom--DebtInstrumentInterestCappedSecuredOvernightFinancingRate_iI_pid_dp_c20260630__us-gaap--DebtInstrumentAxis__custom--SeniorMortgageLoanMember_z1mdgmfinv16" title="SOFR cappped interest rate percentage"><span id="xdx_90B_ecustom--DebtInstrumentInterestCappedSecuredOvernightFinancingRate_iI_pid_dp_c20250630__us-gaap--DebtInstrumentAxis__custom--SeniorMortgageLoanMember_zN8kSrom9Pb3" title="SOFR cappped interest rate percentage">4.50%</td><td style="width: 2%"> </td> <td style="width: 12%; padding-left: 0.75pt">April 9, 2027</td></tr> <tr id="xdx_401_ecustom--MezzanineLoan_iI_zSVdvGQp1uN1" style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-align: left; padding-left: 0.75pt">Mezzanine loan</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">36,300,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">36,300,000</td><td style="text-align: left"> </td><td> </td> <td style="padding-left: 0.75pt"><span id="xdx_905_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_c20260630__us-gaap--DebtInstrumentAxis__custom--MezzanineLoanMember_ziqBncajpwJd" title="Debt instrument, interest rate, stated percentage"><span id="xdx_90A_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_c20250630__us-gaap--DebtInstrumentAxis__custom--MezzanineLoanMember_zYRKudruxEdh" title="Debt instrument, interest rate, stated percentage">7.25% through March 28, 2027; <span id="xdx_909_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_pid_dp_c20260630__us-gaap--DebtInstrumentAxis__custom--MezzanineLoanMember_zDLkpJTa3VO" title="Debt instrument, interest rate, stated percentage"><span id="xdx_90D_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_pid_dp_c20250630__us-gaap--DebtInstrumentAxis__custom--MezzanineLoanMember_zqBPYLoKkwTd" title="Debt instrument, interest rate percentage">11.25% thereafter</td><td> </td> <td style="padding-left: 0.75pt">April 9, 2027</td></tr> <tr id="xdx_40B_ecustom--MortgageAndMezzanineLoansGross_iI_zeacb0b9KGHc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; font-weight: bold; text-align: left; padding-left: 0.75pt">Gross loans</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">103,300,000</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">103,300,000</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="padding-left: 0.75pt"> </td><td> </td> <td style="padding-left: 0.75pt"> </td></tr> <tr id="xdx_40C_eus-gaap--DeferredFinanceCostsNet_iNI_di_zqmDGSKWG6ik" style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-align: left; padding-bottom: 1pt; padding-left: 0.75pt">Less: unamortized debt issuance costs</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(765,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,781,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; padding-left: 0.75pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; padding-left: 0.75pt"> </td></tr> <tr id="xdx_401_ecustom--MortgageAndMezzanineLoansNet_iTI_zH4Xu4fPiPGf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; font-weight: bold; text-align: left; padding-bottom: 2.5pt; padding-left: 0.75pt">Mortgage and mezzanine loans, net</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">102,535,000</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">101,519,000</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; padding-left: 0.75pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; padding-left: 0.75pt"> </td></tr> </table> Contractual Maturities Contractual maturities as of June 30, 2026 were as follows: SCHEDULE OF CONTRACTUAL MATURITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="font-weight: bold">For the years ending June 30,</td><td> </td> <td colspan="2" id="xdx_490_20260630_zRnPtcnpTbUj"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_401_eus-gaap--ContractualObligationDueInNextTwelveMonths_iI_maCOz9Yw_zIkTB4Plurbi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: center">2027</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">103,300,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--ContractualObligationDueInSecondYear_iI_maCOz9Yw_zPd3m69BIEF9" style="vertical-align: bottom; background-color: White"> <td style="text-align: center">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--ContractualObligationDueInThirdYear_iI_maCOz9Yw_zbC7KMtpzJ2h" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">2029</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--ContractualObligationDueInFourthYear_iI_maCOz9Yw_zRqj2oTT50Y7" style="vertical-align: bottom; background-color: White"> <td style="text-align: center">2030</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--ContractualObligationDueInFifthYear_iI_maCOz9Yw_z0iPhIU7p5Pe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">2031</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--ContractualObligationDueAfterFifthYear_iI_maCOz9Yw_zbvI161tjbHd" style="vertical-align: bottom; background-color: White"> <td style="text-align: center; padding-bottom: 1pt">Thereafter</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--ContractualObligation_iTI_mtCOz9Yw_zSUaVvCKbBO9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Contractual debt</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">103,300,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

67000000

36300000

0.0765

0.0475 0.0450

0.0725

0.1125

245000

1171000

1416000

SCHEDULE OF LOAN BALANCES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center; padding-bottom: 1pt; vertical-align: top"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49D_20260630_zrT4Qnlp6Yqd" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">June 30, 2026</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_492_20250630_zLNPhNnOaTEj" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">June 30, 2025</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Interest Rate</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Initial Maturity</td></tr> <tr id="xdx_402_ecustom--SeniorMortgageLoan_iI_z03IGGeHOzK5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; width: 28%; text-align: left; padding-left: 0.75pt">Senior mortgage loan</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">67,000,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">67,000,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 24%; text-align: left; padding-left: 0.75pt">Greater of <span id="xdx_906_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_c20260630__us-gaap--DebtInstrumentAxis__custom--SeniorMortgageLoanMember_zVNE0k9RDk0j" title="Debt instrument, interest rate, stated percentage"><span id="xdx_90B_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_c20250630__us-gaap--DebtInstrumentAxis__custom--SeniorMortgageLoanMember_zTR1KTfc0Kp3" title="Debt instrument, interest rate, stated percentage">7.65% or Term SOFR + <span id="xdx_902_ecustom--DebtInstrumentInterestTermSecuredOvernightFinancingRate_iI_pid_dp_c20260630__us-gaap--DebtInstrumentAxis__custom--SeniorMortgageLoanMember_zONwDpTaON52" title="SOFR term interest rate percentage"><span id="xdx_90B_ecustom--DebtInstrumentInterestTermSecuredOvernightFinancingRate_iI_pid_dp_c20250630__us-gaap--DebtInstrumentAxis__custom--SeniorMortgageLoanMember_zrFMPlGkY2uc" title="SOFR term interest rate percentage">4.75%; SOFR capped at <span id="xdx_900_ecustom--DebtInstrumentInterestCappedSecuredOvernightFinancingRate_iI_pid_dp_c20260630__us-gaap--DebtInstrumentAxis__custom--SeniorMortgageLoanMember_z1mdgmfinv16" title="SOFR cappped interest rate percentage"><span id="xdx_90B_ecustom--DebtInstrumentInterestCappedSecuredOvernightFinancingRate_iI_pid_dp_c20250630__us-gaap--DebtInstrumentAxis__custom--SeniorMortgageLoanMember_zN8kSrom9Pb3" title="SOFR cappped interest rate percentage">4.50%</td><td style="width: 2%"> </td> <td style="width: 12%; padding-left: 0.75pt">April 9, 2027</td></tr> <tr id="xdx_401_ecustom--MezzanineLoan_iI_zSVdvGQp1uN1" style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-align: left; padding-left: 0.75pt">Mezzanine loan</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">36,300,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">36,300,000</td><td style="text-align: left"> </td><td> </td> <td style="padding-left: 0.75pt"><span id="xdx_905_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_c20260630__us-gaap--DebtInstrumentAxis__custom--MezzanineLoanMember_ziqBncajpwJd" title="Debt instrument, interest rate, stated percentage"><span id="xdx_90A_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_c20250630__us-gaap--DebtInstrumentAxis__custom--MezzanineLoanMember_zYRKudruxEdh" title="Debt instrument, interest rate, stated percentage">7.25% through March 28, 2027; <span id="xdx_909_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_pid_dp_c20260630__us-gaap--DebtInstrumentAxis__custom--MezzanineLoanMember_zDLkpJTa3VO" title="Debt instrument, interest rate, stated percentage"><span id="xdx_90D_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_pid_dp_c20250630__us-gaap--DebtInstrumentAxis__custom--MezzanineLoanMember_zqBPYLoKkwTd" title="Debt instrument, interest rate percentage">11.25% thereafter</td><td> </td> <td style="padding-left: 0.75pt">April 9, 2027</td></tr> <tr id="xdx_40B_ecustom--MortgageAndMezzanineLoansGross_iI_zeacb0b9KGHc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; font-weight: bold; text-align: left; padding-left: 0.75pt">Gross loans</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">103,300,000</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">103,300,000</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="padding-left: 0.75pt"> </td><td> </td> <td style="padding-left: 0.75pt"> </td></tr> <tr id="xdx_40C_eus-gaap--DeferredFinanceCostsNet_iNI_di_zqmDGSKWG6ik" style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-align: left; padding-bottom: 1pt; padding-left: 0.75pt">Less: unamortized debt issuance costs</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(765,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,781,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; padding-left: 0.75pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; padding-left: 0.75pt"> </td></tr> <tr id="xdx_401_ecustom--MortgageAndMezzanineLoansNet_iTI_zH4Xu4fPiPGf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; font-weight: bold; text-align: left; padding-bottom: 2.5pt; padding-left: 0.75pt">Mortgage and mezzanine loans, net</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">102,535,000</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">101,519,000</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; padding-left: 0.75pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; padding-left: 0.75pt"> </td></tr> </table>

67000000 67000000

0.0765

0.0475 0.0475 0.0450 0.0450

2027-04-09

36300000 36300000

0.0725

0.1125

2027-04-09

103300000 103300000

765000

1781000

102535000 101519000 Contractual maturities as of June 30, 2026 were as follows: SCHEDULE OF CONTRACTUAL MATURITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="font-weight: bold">For the years ending June 30,</td><td> </td> <td colspan="2" id="xdx_490_20260630_zRnPtcnpTbUj"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_401_eus-gaap--ContractualObligationDueInNextTwelveMonths_iI_maCOz9Yw_zIkTB4Plurbi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: center">2027</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">103,300,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--ContractualObligationDueInSecondYear_iI_maCOz9Yw_zPd3m69BIEF9" style="vertical-align: bottom; background-color: White"> <td style="text-align: center">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--ContractualObligationDueInThirdYear_iI_maCOz9Yw_zbC7KMtpzJ2h" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">2029</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--ContractualObligationDueInFourthYear_iI_maCOz9Yw_zRqj2oTT50Y7" style="vertical-align: bottom; background-color: White"> <td style="text-align: center">2030</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--ContractualObligationDueInFifthYear_iI_maCOz9Yw_z0iPhIU7p5Pe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">2031</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--ContractualObligationDueAfterFifthYear_iI_maCOz9Yw_zbvI161tjbHd" style="vertical-align: bottom; background-color: White"> <td style="text-align: center; padding-bottom: 1pt">Thereafter</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--ContractualObligation_iTI_mtCOz9Yw_zSUaVvCKbBO9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Contractual debt</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">103,300,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

103300000

NOTE 10 – MANAGEMENT AGREEMENTS Justice Operating Company, LLC (“Operating”) has a hotel management agreement (“HMA”) with Aimbridge Hospitality (“Aimbridge”) to manage the Hotel, including its parking garage. The HMA commenced on February 3, 2017 and has an initial 10 ten-year term ending in February 2027, with up to five successive one-year renewal periods, subject to the terms of the agreement. Aimbridge receives a base management fee equal to 1.70% of total Hotel revenue. The HMA originally provided for an annual incentive fee based on increases in Gross Operating Profit. In connection with a subsequent amendment to the incentive-fee provisions, the parties established $15,257,301, representing the Hotel’s 2017 EBITDA, as the performance baseline for future incentive-fee eligibility. Future incentive fees, if any, are determined in accordance with the amended HMA. Base management fees were $944,000 and $783,000 for the years ended June 30, 2026 and 2025, respectively. No incentive fees were incurred in either year. Hotel operating expenses reflect key-money amortization of $250,000 each year. During fiscal 2025, Aimbridge waived $1,030,134 of previously recorded incentive fees related to prior periods, resulting in a corresponding reduction in Hotel operating expenses for the year ended June 30, 2025. The waiver was a nonrecurring item and did not affect fiscal 2026 operating results. See Note 8 – Related Party and Other Financing Transactions for information regarding the Aimbridge key-money arrangement and Note 15 – Commitments and Contingencies for additional obligations under the HMA.

P10Y

15257301

944000

783000

250000

1030134

NOTE 11 – CONCENTRATION OF CREDIT RISK As of June 30, 2026 and 2025, all accounts receivables were related to Hotel customers. The Hotel had two customers that accounted for approximately <span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20250701__20260630__srt--MajorCustomersAxis__custom--TwoCustomersMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis__srt--HotelMember_zgKMdzPsYngi" title="Concentration risk, percentage">98%, or $<span id="xdx_908_eus-gaap--AccountsReceivableNet_iI_pp0p0_c20260630__srt--MajorCustomersAxis__custom--TwoCustomersMember__srt--MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis__srt--HotelMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_z2gWjPC4Mpp" title="Accounts receivable, net">101,000 of accounts receivable at June 30, 2026, and two customers that accounted for <span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20240701__20250630__srt--MajorCustomersAxis__custom--TwoCustomersMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis__srt--HotelMember_zr5Tp7PuXtd9" title="Concentration risk, percentage">88%, or $<span id="xdx_90A_eus-gaap--AccountsReceivableNet_iI_pp0p0_c20250630__srt--MajorCustomersAxis__custom--TwoCustomersMember__srt--MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis__srt--HotelMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zVZWhCybPdLd" title="Accounts receivable, net">237,000 of accounts receivable at June 30, 2025. The Company maintains its cash and cash equivalents and restricted cash with various financial institutions that are monitored regularly for credit quality. At times, such cash and cash equivalents holdings may exceed the Federal Deposit Insurance Corporation (“FDIC”) or other federally insured limits. Any loss incurred from, or a lack of access to, such funds could have significant adverse impact on the Company’s financial condition, results of operations, and cash flows.

0.98

101000

0.88

237000

NOTE 12 - INCOME TAXES The provision for income tax (expense) benefit consists of the following: SCHEDULE OF PROVISION FOR INCOME TAX (EXPENSE) BENEFIT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">For the years ended June 30,</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20250701__20260630_zvcUj5zoIXd7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20240701__20250630_zEp4xrgXxpFf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Federal</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--CurrentFederalTaxExpenseBenefit_iN_pp0p0_di_maFITEBzgbl_zMSO1LRsS555" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Current tax expense</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredFederalIncomeTaxExpenseBenefit_iN_pp0p0_di_maFITEBzgbl_zG64buoBWPGa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Deferred tax expense</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--FederalIncomeTaxExpenseBenefitContinuingOperations_iNT_pp0p0_di_mtFITEBzgbl_maITEBza5a_zDYkRzEnT7F8" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Federal income tax benefit</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>State</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--CurrentStateAndLocalTaxExpenseBenefit_iN_pp0p0_di_maSALITzBGV_zJCSF71T38o9" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left; padding-left: 10pt">Current tax expense</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">(1,000</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">(1,000</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--DeferredStateAndLocalIncomeTaxExpenseBenefit_iN_pp0p0_di_maSALITzBGV_z8AIlmc5dUgk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Deferred tax expense</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--StateAndLocalIncomeTaxExpenseBenefitContinuingOperations_iNT_pp0p0_di_mtSALITzBGV_maITEBza5a_z1bHzryJc3b2" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">State and local income tax benefit</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--IncomeTaxExpenseBenefit_iNT_pp0p0_di_mtITEBza5a_zMMqE8ANoBwk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Income tax expense</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(1,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(1,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> A reconciliation of the statutory federal income tax rate to the effective tax rate is as follows: SCHEDULE OF STATUTORY FEDERAL INCOME TAX RATE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">For the years ended June 30,</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20250701__20260630_ztKqfoSVajVj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20240701__20250630_zVEDUiJeltS4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_40C_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_maEITR001_zDh0widnCcz8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Statutory federal tax rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">21.0</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">21.0</td><td style="width: 1%; text-align: left">%</td></tr> <tr id="xdx_40A_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_pid_dp_uPure_maEITR001_zs3bkwkrVu24" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">State income taxes, net of federal tax benefit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7.0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.8</td><td style="text-align: left">%</td></tr> <tr id="xdx_40E_ecustom--EffectiveIncomeTaxRateReconciliationProvisionToReturnAdjustment_pid_dp_uPure_maEITR001_z4b13oQlmc26" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Provision to return adjustment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3.3</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.3</td><td style="text-align: left">%</td></tr> <tr id="xdx_40F_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_pid_dp_uPure_maEITR001_zs5JBxsncXOc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Valuation allowance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-32.1</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-31.1</td><td style="text-align: left">%</td></tr> <tr id="xdx_40F_eus-gaap--EffectiveIncomeTaxRateReconciliationOtherAdjustments_pid_dp_uPure_maEITR001_zVzUWPKRt6R9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-0.8</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-3.0</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> <tr id="xdx_402_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_iT_pid_dp_uPure_mtEITR001_z2rlXwRsU2Xg" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Effective income tax rate reconciliation percentage</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">0.0</td><td style="padding-bottom: 2.5pt; text-align: left">%</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">0.0</td><td style="padding-bottom: 2.5pt; text-align: left">%</td></tr> </table> The components of the Company’s deferred tax assets and (liabilities) as of June 30, 2026 and 2025 are as follows: SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20260630_zZvba0EHfbZc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20250630_zbrLsiokovnc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred tax assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_pp0p0_maDTAGzU19_zGl4wbulS2p4" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left; padding-left: 10pt">Net operating loss carryforward</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">15,149,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">14,822,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--DeferredTaxAssetsInterestExpense_iI_pp0p0_maDTAGzU19_zHCWDvy72Yde" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Interest expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,110,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,385,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals_iI_pp0p0_maDTAGzU19_zUtS8l9Q1p83" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Accruals and reserves</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">714,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">622,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--DeferredTaxAssetsTaxDeferredExpenseDepreciation_iI_pp0p0_maDTAGzU19_zf6IrJGL5776" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13,679,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13,877,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--DeferredTaxAssetsTaxDeferredExpenseRelatedPartyInterest_iI_pp0p0_maDTAGzU19_zHlSQPhed8b2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Related party interest</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,269,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,243,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--DeferredTaxAssetsStateTaxes_iI_pp0p0_maDTAGzU19_zCLlPzsou6Ib" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">State tax credits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">165,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DeferredTaxAssetsUnrealizedLossesOnAvailableforSaleSecuritiesGross_iI_pp0p0_maDTAGzU19_zHbHiOChvm18" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Capital loss carryforward</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">975,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,054,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--DeferredTaxAssetsOther_iI_pp0p0_maDTAGzU19_zXl2ZOzL6Wzl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; padding-left: 10pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">38,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxAssetsGross_iTI_pp0p0_maDTANzDXr_mtDTAGzU19_z5tyjDTs1zj6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Deferred tax assets before valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">40,934,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">39,169,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_pp0p0_di_msDTANzDXr_zp6x9dIEGEAi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Less Valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(40,908,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(39,169,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--DeferredTaxAssetsNet_iTI_pp0p0_mtDTANzDXr_maDTALNz3W1_zIgckFfep1N3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Deferred tax assets after valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">26,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Deferred tax liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--DeferredTaxLiabilitiesUnrealizedLoss_iNI_pp0p0_di_maDITLz2kP_zyrFfPSHSRd5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Unrealized loss</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(26,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--DeferredIncomeTaxLiabilities_iNTI_pp0p0_di_mtDITLz2kP_msDTALNz3W1_zrtx6Joo43q7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Deferred tax liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(26,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iTI_pp0p0_mtDTALNz3W1_zhWJJHr71Pac" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Net deferred tax assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> As of June 30, 2026, the Company had net operating loss (“NOL”) carryforwards of approximately $39,889,000 and $76,371,000 for federal and state purposes, respectively. Of the $39,889,000 federal NOL carryforwards, $<span id="xdx_907_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_pp0p0_c20260630__us-gaap--IncomeTaxAuthorityAxis__custom--TwoThousandThirtySevenMember_zR0dlaesyPHg" title="Operating loss carryforwards">14,707,000 expire in varying amounts through 2037 and $<span id="xdx_907_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_pp0p0_c20260630__us-gaap--IncomeTaxAuthorityAxis__custom--TwoThousandSeventeenNOLsMember_zqD4pZ2U36Xb" title="Operating loss carryforwards">25,182,000 of post-2017 NOLs can be carried forward indefinitely. Note that the post-2017 NOLs may only offset 80% of future taxable income. The Company had capital loss carryforwards of $3,267,000 for federal and state purposes. The capital losses begin to expire in 2025 for both federal and state purposes. As of June 30, 2025, the Company had net operating loss (“NOL”) carryforwards of approximately $41,378,000 and $69,377,000 for federal and state purposes, respectively. Of the $41,378,000 federal NOL carryforwards, $<span id="xdx_900_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_pp0p0_c20250630__us-gaap--IncomeTaxAuthorityAxis__custom--TwoThousandThirtySevenMember_zcntDgM0e4Bi" title="Operating loss carryforwards">14,707,000 expire in varying amounts through 2037 and $<span id="xdx_902_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_pp0p0_c20250630__us-gaap--IncomeTaxAuthorityAxis__custom--TwoThousandSeventeenNOLsMember_z2MGYLgZJCHi" title="Operating loss carryforwards">26,671,000 of post-2017 NOLs can be carried forward indefinitely. Note that the post-2017 NOLs may only offset 80% of future taxable income. The Company had capital loss carryforwards of $5,539,000 for federal and state purposes. The capital losses begin to expire in 2025 for both federal and state purposes. There are immaterial California state tax credits of $165,000 which expire in various years. Assets and liabilities are established for uncertain tax positions taken or positions expected to be taken in income tax returns where such positions are judged to not meet the “more-likely-than-not” threshold based on the technical merits of the positions. As of June 30, 2026, it has been determined that the company had $1,665,000 of unrecognized tax benefits. No new uncertain tax positions were identified this year. The Company files tax returns as prescribed by the tax laws of the jurisdictions in which it operates and is subject to examination by federal, state and local jurisdictions, where applicable. As of June 30, 2026, tax years beginning in fiscal year 2023 and 2022 remain open to examination by federal and state tax jurisdictions, respectively, and are subject to the statute of limitations. Uncertain Tax Positions The Company regularly evaluates the likelihood of realizing the benefit from income tax positions that it has taken in various federal, state and foreign filings by considering all relevant facts, circumstances and information available. If the Company determines it is more likely than not that the position will be sustained, a benefit will be recognized at the largest amount that it believes is cumulatively greater than 50% likely to be realized. The following table summarizes changes in the amount of the Company’s unrecognized tax benefits for uncertain tax positions: SCHEDULE OF UNRECOGNIZED TAX BENEFIT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 60%"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center; padding-left: 5.4pt"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49C_20250701__20260630_z3twgO76pB0h" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--UnrecognizedTaxBenefits_iS_zGlkqQ5L79K6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: center; padding-left: 5.4pt">Unrecognized Tax Benefits at June 30, 2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">1,665,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions_z9I5ay2CIzF8" style="vertical-align: bottom; background-color: White"> <td style="text-align: center; padding-left: 5.4pt">Increase in tax positions taken</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions_zPIKWoz3mBH5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center; padding-bottom: 1pt; padding-left: 5.4pt">Decrease in tax positions taken</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--UnrecognizedTaxBenefits_iE_zOtxEHOaql3h" style="vertical-align: bottom; background-color: White"> <td style="text-align: center; padding-bottom: 2.5pt; padding-left: 5.4pt">Unrecognized Tax Benefits at June 30, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,665,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> As of June 30, 2026 and June 30, 2025, the Company had unrecognized tax benefits, which would affect the effective tax rate if recognized. The unrecognized tax benefits are not expected to reverse within the next 12 months. Interest and penalties related to income tax matters are classified as a component of income tax expense. As of June 30, 2026 and June 30, 2025, no interest and penalties were recorded.

The provision for income tax (expense) benefit consists of the following: SCHEDULE OF PROVISION FOR INCOME TAX (EXPENSE) BENEFIT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">For the years ended June 30,</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20250701__20260630_zvcUj5zoIXd7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20240701__20250630_zEp4xrgXxpFf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Federal</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--CurrentFederalTaxExpenseBenefit_iN_pp0p0_di_maFITEBzgbl_zMSO1LRsS555" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Current tax expense</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredFederalIncomeTaxExpenseBenefit_iN_pp0p0_di_maFITEBzgbl_zG64buoBWPGa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Deferred tax expense</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--FederalIncomeTaxExpenseBenefitContinuingOperations_iNT_pp0p0_di_mtFITEBzgbl_maITEBza5a_zDYkRzEnT7F8" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Federal income tax benefit</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>State</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--CurrentStateAndLocalTaxExpenseBenefit_iN_pp0p0_di_maSALITzBGV_zJCSF71T38o9" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left; padding-left: 10pt">Current tax expense</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">(1,000</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">(1,000</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--DeferredStateAndLocalIncomeTaxExpenseBenefit_iN_pp0p0_di_maSALITzBGV_z8AIlmc5dUgk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Deferred tax expense</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--StateAndLocalIncomeTaxExpenseBenefitContinuingOperations_iNT_pp0p0_di_mtSALITzBGV_maITEBza5a_z1bHzryJc3b2" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">State and local income tax benefit</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--IncomeTaxExpenseBenefit_iNT_pp0p0_di_mtITEBza5a_zMMqE8ANoBwk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Income tax expense</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(1,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(1,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table>

1000

A reconciliation of the statutory federal income tax rate to the effective tax rate is as follows: SCHEDULE OF STATUTORY FEDERAL INCOME TAX RATE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">For the years ended June 30,</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20250701__20260630_ztKqfoSVajVj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20240701__20250630_zVEDUiJeltS4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_40C_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_maEITR001_zDh0widnCcz8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Statutory federal tax rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">21.0</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">21.0</td><td style="width: 1%; text-align: left">%</td></tr> <tr id="xdx_40A_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_pid_dp_uPure_maEITR001_zs3bkwkrVu24" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">State income taxes, net of federal tax benefit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7.0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.8</td><td style="text-align: left">%</td></tr> <tr id="xdx_40E_ecustom--EffectiveIncomeTaxRateReconciliationProvisionToReturnAdjustment_pid_dp_uPure_maEITR001_z4b13oQlmc26" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Provision to return adjustment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3.3</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.3</td><td style="text-align: left">%</td></tr> <tr id="xdx_40F_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_pid_dp_uPure_maEITR001_zs5JBxsncXOc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Valuation allowance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-32.1</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-31.1</td><td style="text-align: left">%</td></tr> <tr id="xdx_40F_eus-gaap--EffectiveIncomeTaxRateReconciliationOtherAdjustments_pid_dp_uPure_maEITR001_zVzUWPKRt6R9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-0.8</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-3.0</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> <tr id="xdx_402_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_iT_pid_dp_uPure_mtEITR001_z2rlXwRsU2Xg" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Effective income tax rate reconciliation percentage</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">0.0</td><td style="padding-bottom: 2.5pt; text-align: left">%</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">0.0</td><td style="padding-bottom: 2.5pt; text-align: left">%</td></tr> </table>

0.210

0.070

0.088

0.033 0.043

-0.321

-0.311

-0.008

-0.030

0.000

The components of the Company’s deferred tax assets and (liabilities) as of June 30, 2026 and 2025 are as follows: SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20260630_zZvba0EHfbZc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20250630_zbrLsiokovnc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred tax assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_pp0p0_maDTAGzU19_zGl4wbulS2p4" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left; padding-left: 10pt">Net operating loss carryforward</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">15,149,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">14,822,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--DeferredTaxAssetsInterestExpense_iI_pp0p0_maDTAGzU19_zHCWDvy72Yde" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Interest expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,110,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,385,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals_iI_pp0p0_maDTAGzU19_zUtS8l9Q1p83" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Accruals and reserves</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">714,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">622,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--DeferredTaxAssetsTaxDeferredExpenseDepreciation_iI_pp0p0_maDTAGzU19_zf6IrJGL5776" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13,679,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13,877,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--DeferredTaxAssetsTaxDeferredExpenseRelatedPartyInterest_iI_pp0p0_maDTAGzU19_zHlSQPhed8b2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Related party interest</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,269,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,243,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--DeferredTaxAssetsStateTaxes_iI_pp0p0_maDTAGzU19_zCLlPzsou6Ib" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">State tax credits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">165,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DeferredTaxAssetsUnrealizedLossesOnAvailableforSaleSecuritiesGross_iI_pp0p0_maDTAGzU19_zHbHiOChvm18" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Capital loss carryforward</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">975,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,054,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--DeferredTaxAssetsOther_iI_pp0p0_maDTAGzU19_zXl2ZOzL6Wzl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; padding-left: 10pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">38,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxAssetsGross_iTI_pp0p0_maDTANzDXr_mtDTAGzU19_z5tyjDTs1zj6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Deferred tax assets before valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">40,934,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">39,169,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_pp0p0_di_msDTANzDXr_zp6x9dIEGEAi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Less Valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(40,908,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(39,169,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--DeferredTaxAssetsNet_iTI_pp0p0_mtDTANzDXr_maDTALNz3W1_zIgckFfep1N3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Deferred tax assets after valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">26,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Deferred tax liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--DeferredTaxLiabilitiesUnrealizedLoss_iNI_pp0p0_di_maDITLz2kP_zyrFfPSHSRd5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Unrealized loss</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(26,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--DeferredIncomeTaxLiabilities_iNTI_pp0p0_di_mtDITLz2kP_msDTALNz3W1_zrtx6Joo43q7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Deferred tax liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(26,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iTI_pp0p0_mtDTALNz3W1_zhWJJHr71Pac" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Net deferred tax assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

15149000

14822000

7110000 6385000

714000

622000

13679000 13877000 3269000 2243000

165000

975000

1054000

38000

1000

40934000

39169000

40908000

39169000

26000

39889000

76371000

39889000

14707000

25182000

0.80

3267000

41378000

69377000

41378000

14707000

26671000

0.80

5539000

165000

1665000

SCHEDULE OF UNRECOGNIZED TAX BENEFIT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 60%"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center; padding-left: 5.4pt"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49C_20250701__20260630_z3twgO76pB0h" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--UnrecognizedTaxBenefits_iS_zGlkqQ5L79K6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: center; padding-left: 5.4pt">Unrecognized Tax Benefits at June 30, 2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">1,665,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions_z9I5ay2CIzF8" style="vertical-align: bottom; background-color: White"> <td style="text-align: center; padding-left: 5.4pt">Increase in tax positions taken</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions_zPIKWoz3mBH5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center; padding-bottom: 1pt; padding-left: 5.4pt">Decrease in tax positions taken</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--UnrecognizedTaxBenefits_iE_zOtxEHOaql3h" style="vertical-align: bottom; background-color: White"> <td style="text-align: center; padding-bottom: 2.5pt; padding-left: 5.4pt">Unrecognized Tax Benefits at June 30, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,665,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

1665000

NOTE 13 - SEGMENT INFORMATION The Company operates in two reportable segments: (i) the operation of the Hotel (“Hotel Operations”) and (ii) the investment of cash in marketable securities and other investments (“Investment Transactions”). These segments reflect the manner in which management evaluates financial performance, allocates resources. Corporate expenses and other amounts that are not allocated to the reportable segments are in “Other.” The Company’s chief operating decision maker (“CODM”) is a group of senior executives. The CODM uses segment income (loss) as the primary measure for assessing segment performance and making resource-allocation decisions. For Hotel Operations, segment income represents Hotel revenue less Hotel operating expenses before depreciation and amortization and financing-related interest expense. For Investment Transactions, segment loss includes gains and losses on marketable securities, dividend and interest income, and trading and margin interest expense. The significant expense categories regularly provided to the CODM and included in Hotel Operations segment income utilities, real estate taxes, insurance and Hotel general and administrative expenses. Significant expenses regularly provided to the CODM for Investment Transactions include trading and margin interest expense. Hotel Operations includes the operations of the Hotel and its five-level parking garage. The following tables present the Company’s reportable segment information for the years ended June 30, 2026 and 2025. SCHEDULE OF SEGMENT REPORTING INFORMATION, BY SEGMENT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold">As of and for the year</td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_490_20250701__20260630__us-gaap--StatementBusinessSegmentsAxis__custom--HotelOperationsMember_zvlr96OZTL46" style="font-weight: bold; text-align: center">Hotel</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_492_20250701__20260630__us-gaap--StatementBusinessSegmentsAxis__custom--InvestmentTransactionsMember_z6quHTds6qI" style="font-weight: bold; text-align: center">Investment</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_497_20250701__20260630__us-gaap--StatementBusinessSegmentsAxis__custom--OtherMember_zOYr4oVWlIv9" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49C_20250701__20260630_zVzUy6sql1Lc" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">ended June 30, 2026</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Operations</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Transactions</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Other</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zwriZnZqFq5h" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%">Revenues</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">55,797,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">55,797,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--OperatingExpenses_iN_pp0p0_zJ5Cthu8VUse" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Operating expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(38,265,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(38,265,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_407_ecustom--Utilities_iN_pp0p0_di_zcPvpk9qd002" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Utilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,900,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,900,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_406_ecustom--RealEstateTaxes_iN_pp0p0_di_zORWfGpMCJcj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Real estate taxes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,159,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,159,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_ecustom--Insurance_iN_pp0p0_di_zY7CtwvM6q28" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Insurance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(949,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(949,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_ecustom--GeneralAndAdministrative_iN_pp0p0_di_zhFdTxe70SPc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">General and administrative</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,095,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,095,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_407_ecustom--SegmentOperatingIncomeLoss_z5ZTvx8qDTj7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Segment income (loss)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,524,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,095,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,429,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--InterestExpenseDebt_iN_pp0p0_di_z10rCesZqwK7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Interest expense - mortgage</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(9,686,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(9,686,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--InterestExpense_iN_pp0p0_di_zWNZoSGOoSoj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Interest expense – related party</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,437,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,437,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--GainsLossesOnExtinguishmentOfDebt_pp0p0_zHg0MYaVgyz9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Gain on extinguishment of debt</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DepreciationAndAmortization_iN_pp0p0_di_z374z9sZ95R8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Depreciation and amortization expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,640,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,640,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--IncomeLossFromEquityMethodInvestments_zkmYaOF1N29e" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Loss from investments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(79,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(79,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--IncomeTaxExpenseBenefit_iN_di_zCGKRYIFtEvc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Income tax expense</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--ProfitLoss_zrLbmhj95uUe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Net loss</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(4,239,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(79,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(1,096,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(5,414,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--Assets_iE_pp0p0_c20250701__20260630__us-gaap--StatementBusinessSegmentsAxis__custom--HotelOperationsMember_z1FpNfXU2Op3" style="border-bottom: Black 2.5pt double; text-align: right" title="Total assets">46,548,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--Assets_iE_pp0p0_c20250701__20260630__us-gaap--StatementBusinessSegmentsAxis__custom--InvestmentTransactionsMember_zXQbi4oNctZ6" style="border-bottom: Black 2.5pt double; text-align: right" title="Total assets">200,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--Assets_iE_pp0p0_c20250701__20260630__us-gaap--StatementBusinessSegmentsAxis__custom--OtherMember_zeC8UsDLj8Ni" style="border-bottom: Black 2.5pt double; text-align: right" title="Total assets">187,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--Assets_iE_pp0p0_c20250701__20260630_zyBJtgrLo1Ki" style="border-bottom: Black 2.5pt double; text-align: right" title="Total assets">46,935,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold">As of and for the year</td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_493_20240701__20250630__us-gaap--StatementBusinessSegmentsAxis__custom--HotelOperationsMember_zstAJ3fvwEf2" style="font-weight: bold; text-align: center">Hotel</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_498_20240701__20250630__us-gaap--StatementBusinessSegmentsAxis__custom--InvestmentTransactionsMember_zGvKeiVZ15Rl" style="font-weight: bold; text-align: center">Investment</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49B_20240701__20250630__us-gaap--StatementBusinessSegmentsAxis__custom--OtherMember_zetcrJICDxhe" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49D_20240701__20250630_zfMOncO7feQj" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">ended June 30, 2025</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Operations</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Transactions</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Other</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_znXqQyCFVpwi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%">Revenues</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">46,363,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">46,363,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--OperatingExpenses_iN_pp0p0_ziIbQFHB1OO5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Operating expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(31,593,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(31,593,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_407_ecustom--Utilities_iN_pp0p0_di_zF2pNKVazQ87" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Utilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,210,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,210,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_406_ecustom--RealEstateTaxes_iN_pp0p0_di_zGO9QqpH5Ty8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Real estate taxes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,912,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,912,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_ecustom--Insurance_iN_pp0p0_di_zjQMpA1jkrAe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Insurance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(916,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(916,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_ecustom--GeneralAndAdministrative_iN_pp0p0_di_zZE5xCpntLPi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">General and administrative</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,327,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,327,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_407_ecustom--SegmentOperatingIncomeLoss_ztZModB0E84d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Segment income (loss)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,732,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,327,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,405,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--InterestExpenseDebt_iN_pp0p0_di_ziRhJ6sViiLa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Interest expense - mortgage</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(10,680,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(10,680,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--InterestExpense_iN_pp0p0_di_zC59W4abhNd6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Interest expense – related party</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,570,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,570,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--GainsLossesOnExtinguishmentOfDebt_pp0p0_zDGCvCEZq376" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Gain on extinguishment of debt</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,416,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,416,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DepreciationAndAmortization_iN_pp0p0_di_zAu3l9utqI6j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Depreciation and amortization expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,534,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,534,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--IncomeLossFromEquityMethodInvestments_zpk1RT3iIdv7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Loss from investments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(146,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(146,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--IncomeTaxExpenseBenefit_iN_di_zAkMncDTDp5a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Income tax expense</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--ProfitLoss_zr1WAEoj0eWl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Net loss</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(7,636,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(146,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(1,328,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(9,110,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_980_eus-gaap--Assets_iE_pp0p0_c20240701__20250630__us-gaap--StatementBusinessSegmentsAxis__custom--HotelOperationsMember_zH2NaaXekGL2" style="border-bottom: Black 2.5pt double; text-align: right" title="Total assets">46,621,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--Assets_iE_pp0p0_c20240701__20250630__us-gaap--StatementBusinessSegmentsAxis__custom--InvestmentTransactionsMember_zboa9me7cqT9" style="border-bottom: Black 2.5pt double; text-align: right" title="Total assets">127,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98D_eus-gaap--Assets_iE_pp0p0_c20240701__20250630__us-gaap--StatementBusinessSegmentsAxis__custom--OtherMember_zlkacLrSz6Y3" style="border-bottom: Black 2.5pt double; text-align: right" title="Total assets">172,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--Assets_iE_pp0p0_c20240701__20250630_zOG8i5PZgxMd" style="border-bottom: Black 2.5pt double; text-align: right" title="Total assets">46,920,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

Hotel Operations includes the operations of the Hotel and its five-level parking garage. The following tables present the Company’s reportable segment information for the years ended June 30, 2026 and 2025. SCHEDULE OF SEGMENT REPORTING INFORMATION, BY SEGMENT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold">As of and for the year</td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_490_20250701__20260630__us-gaap--StatementBusinessSegmentsAxis__custom--HotelOperationsMember_zvlr96OZTL46" style="font-weight: bold; text-align: center">Hotel</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_492_20250701__20260630__us-gaap--StatementBusinessSegmentsAxis__custom--InvestmentTransactionsMember_z6quHTds6qI" style="font-weight: bold; text-align: center">Investment</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_497_20250701__20260630__us-gaap--StatementBusinessSegmentsAxis__custom--OtherMember_zOYr4oVWlIv9" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49C_20250701__20260630_zVzUy6sql1Lc" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">ended June 30, 2026</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Operations</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Transactions</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Other</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zwriZnZqFq5h" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%">Revenues</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">55,797,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">55,797,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--OperatingExpenses_iN_pp0p0_zJ5Cthu8VUse" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Operating expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(38,265,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(38,265,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_407_ecustom--Utilities_iN_pp0p0_di_zcPvpk9qd002" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Utilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,900,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,900,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_406_ecustom--RealEstateTaxes_iN_pp0p0_di_zORWfGpMCJcj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Real estate taxes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,159,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,159,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_ecustom--Insurance_iN_pp0p0_di_zY7CtwvM6q28" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Insurance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(949,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(949,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_ecustom--GeneralAndAdministrative_iN_pp0p0_di_zhFdTxe70SPc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">General and administrative</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,095,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,095,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_407_ecustom--SegmentOperatingIncomeLoss_z5ZTvx8qDTj7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Segment income (loss)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,524,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,095,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,429,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--InterestExpenseDebt_iN_pp0p0_di_z10rCesZqwK7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Interest expense - mortgage</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(9,686,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(9,686,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--InterestExpense_iN_pp0p0_di_zWNZoSGOoSoj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Interest expense – related party</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,437,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,437,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--GainsLossesOnExtinguishmentOfDebt_pp0p0_zHg0MYaVgyz9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Gain on extinguishment of debt</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DepreciationAndAmortization_iN_pp0p0_di_z374z9sZ95R8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Depreciation and amortization expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,640,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,640,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--IncomeLossFromEquityMethodInvestments_zkmYaOF1N29e" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Loss from investments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(79,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(79,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--IncomeTaxExpenseBenefit_iN_di_zCGKRYIFtEvc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Income tax expense</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--ProfitLoss_zrLbmhj95uUe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Net loss</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(4,239,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(79,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(1,096,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(5,414,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--Assets_iE_pp0p0_c20250701__20260630__us-gaap--StatementBusinessSegmentsAxis__custom--HotelOperationsMember_z1FpNfXU2Op3" style="border-bottom: Black 2.5pt double; text-align: right" title="Total assets">46,548,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--Assets_iE_pp0p0_c20250701__20260630__us-gaap--StatementBusinessSegmentsAxis__custom--InvestmentTransactionsMember_zXQbi4oNctZ6" style="border-bottom: Black 2.5pt double; text-align: right" title="Total assets">200,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--Assets_iE_pp0p0_c20250701__20260630__us-gaap--StatementBusinessSegmentsAxis__custom--OtherMember_zeC8UsDLj8Ni" style="border-bottom: Black 2.5pt double; text-align: right" title="Total assets">187,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--Assets_iE_pp0p0_c20250701__20260630_zyBJtgrLo1Ki" style="border-bottom: Black 2.5pt double; text-align: right" title="Total assets">46,935,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold">As of and for the year</td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_493_20240701__20250630__us-gaap--StatementBusinessSegmentsAxis__custom--HotelOperationsMember_zstAJ3fvwEf2" style="font-weight: bold; text-align: center">Hotel</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_498_20240701__20250630__us-gaap--StatementBusinessSegmentsAxis__custom--InvestmentTransactionsMember_zGvKeiVZ15Rl" style="font-weight: bold; text-align: center">Investment</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49B_20240701__20250630__us-gaap--StatementBusinessSegmentsAxis__custom--OtherMember_zetcrJICDxhe" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49D_20240701__20250630_zfMOncO7feQj" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">ended June 30, 2025</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Operations</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Transactions</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Other</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_znXqQyCFVpwi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%">Revenues</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">46,363,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">46,363,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--OperatingExpenses_iN_pp0p0_ziIbQFHB1OO5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Operating expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(31,593,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(31,593,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_407_ecustom--Utilities_iN_pp0p0_di_zF2pNKVazQ87" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Utilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,210,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,210,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_406_ecustom--RealEstateTaxes_iN_pp0p0_di_zGO9QqpH5Ty8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Real estate taxes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,912,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,912,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_ecustom--Insurance_iN_pp0p0_di_zjQMpA1jkrAe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Insurance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(916,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(916,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_ecustom--GeneralAndAdministrative_iN_pp0p0_di_zZE5xCpntLPi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">General and administrative</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,327,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,327,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_407_ecustom--SegmentOperatingIncomeLoss_ztZModB0E84d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Segment income (loss)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,732,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,327,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,405,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--InterestExpenseDebt_iN_pp0p0_di_ziRhJ6sViiLa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Interest expense - mortgage</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(10,680,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(10,680,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--InterestExpense_iN_pp0p0_di_zC59W4abhNd6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Interest expense – related party</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,570,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,570,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--GainsLossesOnExtinguishmentOfDebt_pp0p0_zDGCvCEZq376" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Gain on extinguishment of debt</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,416,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,416,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DepreciationAndAmortization_iN_pp0p0_di_zAu3l9utqI6j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Depreciation and amortization expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,534,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,534,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--IncomeLossFromEquityMethodInvestments_zpk1RT3iIdv7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Loss from investments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(146,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(146,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--IncomeTaxExpenseBenefit_iN_di_zAkMncDTDp5a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Income tax expense</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--ProfitLoss_zr1WAEoj0eWl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Net loss</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(7,636,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(146,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(1,328,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(9,110,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_980_eus-gaap--Assets_iE_pp0p0_c20240701__20250630__us-gaap--StatementBusinessSegmentsAxis__custom--HotelOperationsMember_zH2NaaXekGL2" style="border-bottom: Black 2.5pt double; text-align: right" title="Total assets">46,621,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--Assets_iE_pp0p0_c20240701__20250630__us-gaap--StatementBusinessSegmentsAxis__custom--InvestmentTransactionsMember_zboa9me7cqT9" style="border-bottom: Black 2.5pt double; text-align: right" title="Total assets">127,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98D_eus-gaap--Assets_iE_pp0p0_c20240701__20250630__us-gaap--StatementBusinessSegmentsAxis__custom--OtherMember_zlkacLrSz6Y3" style="border-bottom: Black 2.5pt double; text-align: right" title="Total assets">172,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--Assets_iE_pp0p0_c20240701__20250630_zOG8i5PZgxMd" style="border-bottom: Black 2.5pt double; text-align: right" title="Total assets">46,920,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

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46920000

NOTE 14 – COMMITMENTS AND CONTINGENCIES Cash Management Agreement In connection with the March 28, 2025 refinancing of the Hotel’s senior mortgage, Justice Operating Company, LLC (“Operating”) entered into a Cash Management Agreement with the senior mortgage lender and Wells Fargo Bank, N.A., as cash management bank. Under the agreement, Hotel receipts are deposited into lender-controlled accounts and applied in accordance with the priority and reserve requirements specified in the senior loan documents. The cash management arrangement remained in effect as of June 30, 2026. See Note 9 – Mortgage and Mezzanine Loans for additional information regarding the senior mortgage loan and the cash management release conditions. Franchise Agreements Operating is party to a franchise agreement with HLT Franchise Holding, LLC (“Hilton”) under which the Hotel operates as the Hilton San Francisco Financial District. The franchise agreement extends through January 31, 2030 and requires the Hotel to pay royalties, program fees and certain other charges based primarily on Hotel revenues and to comply with applicable Hilton brand standards. Franchise-related fees were approximately $3,989,000 and $3,529,000 for the years ended June 30, 2026 and 2025, respectively, and are included in Hotel operating expenses. See Note 8 – Related Party and Other Financing Transactions for information regarding the Hilton development incentive note. Hotel Employees and Collective Bargaining Agreements As of June 30, 2026, the Hotel had 187 employees, approximately 90% of whom were represented by one of three labor unions. Aimbridge is party to the applicable collective bargaining agreements (“CBAs”) as agent for Operating, and Operating funds the related payroll, benefits and other labor costs. The CBA covering Local 2 (Hotel and Restaurant Employees) expires on August 13, 2028; the CBA covering Local 856 (International Brotherhood of Teamsters) expires on December 31, 2028; and the CBA covering Local 39 (Stationary Engineers) expires in July 2030. The terms of the CBAs affect the Hotel’s wages, employee benefits and other labor-related operating costs. Legal Matters Portsmouth Square, Inc., through Justice Investors Operating Company, LLC (the “Company”), owns the real property at 750 Kearny Street in San Francisco, which is improved with a 27-story building that houses a Hilton-branded hotel (the “Property”). In connection with City approvals in the early 1970s, the Company constructed an ornamental overhead pedestrian bridge spanning Kearny Street to the City’s Portsmouth Square park and underground garage (the “Bridge”), pursuant in part to a Major Encroachment Permit (the “Permit”). On May 24, 2022, the City purported to revoke the Permit and, on June 13, 2022, directed the Company to submit a general bridge removal and site restoration plan (the “Plan”) at the Company’s expense. The Company disputes the legality of the purported revocation and the existence of any obligation to fund removal. Company representatives participated in meetings with the City on and after August 1, 2019, regarding a potential collaborative removal process; until the 2022 purported revocation, City representatives repeatedly indicated that the City would bear the costs of any removal. Without waiving any rights, and to evaluate available options and respond to the City’s directives, the Company engaged a project manager, structural engineer, and architect to advise on the Plan for Bridge removal and reconstruction of the Property’s Kearny Street frontage. The Company has worked with the City on approvals and permits and discussed both process and financial responsibility. Those discussions resulted in a term sheet agreement in July whereby a plan was agreed-upon for the removal of the Bridge, and the Bridge removal was completed as of August 10, 2026. The Parties are now negotiating a final settlement agreement to reflect the term sheet agreement. The City has agreed to make certain payments to the Company to address certain anticipated costs to rebuild portions of the front of the hotel due to the absence of the Bridge, subject to the Company’s repayment obligations which will commence in 2029. At this time, the Company cannot reasonably estimate a loss or range of loss related to this matter, and no liability has been recorded in the accompanying financial statements.

3989000 3529000 0.90

NOTE 15 – SUBSEQUENT EVENTS Portsmouth Square Pedestrian Bridge Removal On August 9, 2026, the physical removal of the pedestrian bridge connecting the Hotel to Portsmouth Square was completed. The Hotel had temporarily suspended guest operations from July 31, 2026 through August 9, 2026 to facilitate the bridge demolition and resumed guest operations on August 10, 2026. Following removal of the bridge, the City and its contractor continued work associated with the project, including restoration of portions of the Hotel façade and surrounding areas affected by the demolition. The Company is separately responsible for the design and construction of permanent improvements to the Hotel’s Kearny Street entrance. Extension of Related Party Credit Facility In August 2026, the Company and its majority shareholder, The InterGroup Corporation (“InterGroup”), amended the Company’s unsecured revolving credit facility to extend its maturity date from July 31, 2027 to July 31, 2029. All other material terms of the facility remained unchanged. As of June 30, 2026, $38,108,000 was outstanding under the $<span id="xdx_906_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_c20260630__us-gaap--LongtermDebtTypeAxis__us-gaap--UnsecuredDebtMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--InterGroupCorporationMember_zFR1hjFusnn8" title="Related party credit facility">40,000,000 facility. See Note 8 – Related Party and Other Financing Transactions.

38108000

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