INVESTMENT IN HOTEL, NET

12 Months Ended

Jun. 30, 2015

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

NOTE 3 – INVESTMENT IN HOTEL, NET

Investment in Hotel consisted of the following as of:

			Accumulated		Net Book
June 30, 2015	Cost		Depreciation		Value
Land	$	1,124,000	$	-	$	1,124,000
Furniture and equipment		25,958,000		(21,605,000)		4,353,000
Building and improvements		53,641,000		(22,551,000)		31,090,000
	$	80,723,000	$	(44,156,000)	$	36,567,000

			Accumulated		Net Book
June 30, 2014	Cost		Depreciation		Value
Land	$	1,124,000	$	-	$	1,124,000
Furniture and equipment		23,306,000		(20,074,000)		3,232,000
Building and improvements		51,428,000		(21,368,000)		30,060,000
	$	75,858,000	$	(41,442,000)	$	34,416,000

In December 2013, Justice determined to substantially demolish the Hotel’s ground-level Spa (with the exception of the ceilings and certain mechanical systems) to build out additional meeting rooms, a technology lounge and re-locate Hotel offices. In fiscal year 2014, Justice recorded a loss of approximately $738,000 as a disposal of assets on the closure of the Hotel’s Spa on the lobby level.