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SEGMENT INFORMATION
12 Months Ended
Jun. 30, 2017
Segment Reporting [Abstract]  
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