XML 15 R2.htm IDEA: XBRL DOCUMENT v3.24.2.u1
CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($)
Jun. 30, 2024
Dec. 31, 2023
ASSETS    
Real estate, net   $ 62,324,000
Residential condominium units for sale   184,561,000
Cash and cash equivalents $ 854,000 264,000
Restricted cash 1,643,000 8,081,000
Prepaid expenses and other assets, net 158,000 2,774,000
Pension asset 1,370,000 1,370,000
Investments in unconsolidated joint venture 0 0
Receivables 125,000 356,000
Deferred rents receivable   307,000
Right-of-use asset 317,000 519,000
Intangible assets, net   6,952,000
Total assets 4,467,000 267,508,000
LIABILITIES    
Loans payable, net   194,628,000
Corporate credit facility, net   40,791,000
Secured line of credit   11,750,000
Accounts payable and accrued expenses 656,000 28,273,000
Accrued professional fees 1,639,000 1,545,000
Lease liability 346,000 569,000
Total liabilities 2,641,000 277,556,000
Commitments and Contingencies
STOCKHOLDERS' (DEFICIT) EQUITY    
Special stock, $0.01 par value; 1 share authorized, issued and outstanding at June 30, 2024 and December 31, 2023
Common stock, $0.01 par value; 79,999,997 shares authorized; 71,031,987 and 44,965,083 shares issued at June 30, 2024 and December 31, 2023, respectively; 64,089,390 and 38,199,386 shares outstanding at June 30, 2024 and December 31, 2023, respectively 711,000 450,000
Additional paid-in capital 149,575,000 145,301,000
Treasury stock (6,942,597 and 6,765,697 shares at June 30, 2024 and December 31, 2023, respectively) (57,665,000) (57,637,000)
Accumulated other comprehensive loss (2,017,000) (2,257,000)
Accumulated deficit (88,778,000) (95,905,000)
Total stockholders' equity (deficit) 1,826,000 (10,048,000)
Total liabilities and stockholders' equity (deficit) 4,467,000 267,508,000
Blank Check Preferred Stock    
STOCKHOLDERS' (DEFICIT) EQUITY    
Preferred Stock Value
Preferred Stock    
STOCKHOLDERS' (DEFICIT) EQUITY    
Preferred Stock Value