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Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2024
Jun. 30, 2024
ASSETS    
Investment in Hotel, net $ 34,430,000 $ 35,065,000
Investment in marketable securities 207,000 209,000
Cash and cash equivalents 4,839,000 3,511,000
Restricted cash 2,049,000 1,264,000
Accounts receivable, net 606,000 519,000
Other assets, net 707,000 834,000
Total assets 42,838,000 41,402,000
Liabilities:    
Accounts payable and other liabilities 17,099,000 15,233,000
Other notes payable 2,404,000 2,388,000
Mortgage notes payable, net 100,546,000 100,783,000
Total liabilities 159,720,000 156,412,000
Shareholders’ deficit:    
Common stock, no par value: Authorized shares - 750,000; 734,187 shares issued and outstanding shares as of September 30, 2024 and June 30, 2024, respectively 2,092,000 2,092,000
Accumulated deficit (118,974,000) (117,102,000)
Total shareholders’ deficit (116,882,000) (115,010,000)
Total liabilities and shareholders’ deficit 42,838,000 41,402,000
Hotel [Member]    
Liabilities:    
Accounts payable and other liabilities 16,061,000 13,756,000
Nonrelated Party [Member]    
Liabilities:    
Accounts payable and other liabilities 1,038,000 1,477,000
Related Party [Member]    
Liabilities:    
Accounts payable to related party 13,178,000 11,515,000
Related party notes payable $ 26,493,000 $ 26,493,000