Segment Reporting Disclosure [Text Block] |
NOTE 15 - SEGMENT INFORMATION The Company operates in two reportable segments, the operation of the Hotel (“Hotel Operations”) and the investment of its cash in marketable securities and other investments (“Investment Transactions”). These two operating segments, as presented in the consolidated financial statements, reflect how management internally reviews each segment’s performance. Management also makes operational and strategic decisions based on this same information. Information below represents reporting segments for the years ended June 30, 2017 and 2016, respectively. Segment income (loss) from Hotel operations consists of the operation of the Hotel and operation of the garage. Loss from investments consists of net investment gain (loss), dividend and interest income and investment related expenses. As of and for the year | | Hotel | | Investment | | | | | | ended June 30, 2017 | | Operations | | Transactions | | Other | | Total | | Revenues | | $ | 54,334,000 | | $ | - | | $ | - | | $ | 54,334,000 | | Segment operating expenses | | | (41,031,000) | | | - | | | (635,000) | | | (41,666,000) | | Segment income (loss) | | | 13,303,000 | | | - | | | (635,000) | | | 12,668,000 | | Interest expense - mortgage | | | (7,736,000) | | | - | | | - | | | (7,736,000) | | Depreciation and amortization expense | | | (2,860,000) | | | - | | | - | | | (2,860,000) | | Loss from investments | | | - | | | (1,481,000) | | | - | | | (1,481,000) | | Income tax expense | | | - | | | - | | | (196,000) | | | (196,000) | | Net income (loss) | | $ | 2,707,000 | | $ | (1,481,000) | | $ | (831,000) | | $ | 395,000 | | Total assets | | $ | 44,389,000 | | $ | 4,250,000 | | $ | 12,187,000 | | $ | 60,826,000 | | As of and for the year | | Hotel | | Investment | | | | | | ended June 30, 2016 | | Operations | | Transactions | | Other | | Total | | Revenues | | $ | 58,566,000 | | $ | - | | $ | - | | $ | 58,566,000 | | Segment operating expenses | | | (47,246,000) | | | - | | | (712,000) | | | (47,958,000) | | Segment income (loss) | | | 11,320,000 | | | - | | | (712,000) | | | 10,608,000 | | Legal settlement costs | | | (5,396,000) | | | - | | | - | | | (5,396,000) | | Interest expense - mortgage | | | (7,790,000) | | | - | | | - | | | (7,790,000) | | Loss on disposal of assets | | | (30,000) | | | - | | | - | | | (30,000) | | Depreciation and amortization expense | | | (2,855,000) | | | - | | | - | | | (2,855,000) | | Loss from investments | | | | | | (2,433,000) | | | | | | (2,433,000) | | Income tax benefit | | | - | | | - | | | 2,737,000 | | | 2,737,000 | | Net income (loss) | | $ | (4,751,000) | | $ | (2,433,000) | | $ | 2,025,000 | | $ | (5,159,000) | | Total assets | | $ | 45,079,000 | | $ | 4,397,000 | | $ | 13,494,000 | | $ | 62,970,000 | |
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