OTHER ASSETS, NET

12 Months Ended

Jun. 30, 2015

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Other Assets Disclosure [Text Block]

NOTE 8 – OTHER ASSETS, NET

Other assets consist of the following as of June 30:

	2015		2014
Accounts receivable, net	$	6,791,000	$	1,964,000
Inventory - Hotel		256,000		653,000
Prepaid expenses		781,000		1,120,000
Occupancy tax deposit - Hotel		1,061,000		1,061,000
Miscellaneous assets, net		2,616,000		2,961,000
Total other assets	$	11,505,000	$	7,759,000

In 2013, the City of San Francisco’s Tax Collector’s office claimed that Justice owed the City of San Francisco $2.1 million based on the Tax Collector’s interpretation of the San Francisco Business and Tax Regulations Code relating to Transient Occupancy Tax and Tourist Improvement District Assessment. This amount exceeds Justice’s estimate of the taxes owed, and Justice has disputed the claim and is seeking to discharge all penalties and interest charges imposed by the Tax Collector attributed to its over payment. The Company paid the full amount in March 2014 as part of the appeals process but is reflecting the amount on the balance sheet in “Other assets, net” as it is currently under protest.

Amortization expense of loan fees and franchise costs for the years ended June 30, 2015 and 2014 was $131,000 and $88,000, respectively.