SCHEDULE OF SEGMENT REPORTING INFORMATION BY SEGMENT |
Information
below represents reporting segments for the three months ended September 30, 2024 and 2023, respectively. Segment 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.
SCHEDULE
OF SEGMENT REPORTING INFORMATION BY SEGMENT
For the three months | |
Hotel | | |
Investment | | |
| | |
| |
ended September 30, 2024 | |
Operations | | |
Transactions | | |
Corporate | | |
Total | |
Revenues | |
$ | 11,820,000 | | |
$ | - | | |
$ | - | | |
$ | 11,820,000 | |
Segment operating expenses | |
| (8,792,000 | ) | |
| - | | |
| (355,000 | ) | |
| (9,147,000 | ) |
Segment income (loss) | |
| 3,028,000 | | |
| - | | |
| (355,000 | ) | |
| 2,673,000 | |
Interest expense - mortgage | |
| (2,824,000 | ) | |
| - | | |
| - | | |
| (2,824,000 | ) |
Interest expense - related party | |
| (824,000 | ) | |
| - | | |
| - | | |
| (824,000 | ) |
Depreciation and amortization expense | |
| (903,000 | ) | |
| - | | |
| - | | |
| (903,000 | ) |
Income from investments | |
| - | | |
| 7,000 | | |
| - | | |
| 7,000 | |
Income tax expense | |
| - | | |
| - | | |
| (1,000 | ) | |
| (1,000 | ) |
Net (loss) income | |
$ | (1,523,000 | ) | |
$ | 7,000 | | |
$ | (356,000 | ) | |
$ | (1,872,000 | ) |
Total assets | |
$ | 42,244,000 | | |
$ | 207,000 | | |
$ | 387,000 | | |
$ | 42,838,000 | |
As of and for the three months | |
Hotel | | |
Investment | | |
| | |
| |
ended September 30, 2023 | |
Operations | | |
Transactions | | |
Corporate | | |
Total | |
Revenues | |
$ | 11,093,000 | | |
$ | - | | |
$ | - | | |
$ | 11,093,000 | |
Segment operating expenses | |
| (9,281,000 | ) | |
| - | | |
| (319,000 | ) | |
| (9,600,000 | ) |
Segment income (loss) | |
| 1,812,000 | | |
| - | | |
| (319,000 | ) | |
| 1,493,000 | |
Interest expense - mortgage | |
| (1,606,000 | ) | |
| - | | |
| - | | |
| (1,606,000 | ) |
Interest expense - related party | |
| (502,000 | ) | |
| - | | |
| - | | |
| (502,000 | ) |
Depreciation and amortization expense | |
| (821,000 | ) | |
| - | | |
| - | | |
| (821,000 | ) |
Loss from investments | |
| - | | |
| (123,000 | ) | |
| - | | |
| (123,000 | ) |
Income tax expense | |
| - | | |
| - | | |
| (1,000 | ) | |
| (1,000 | ) |
Net loss | |
$ | (1,117,000 | ) | |
$ | (123,000 | ) | |
$ | (320,000 | ) | |
$ | (1,560,000 | ) |
Total assets | |
$ | 42,187,000 | | |
$ | 271,000 | | |
$ | 313,000 | | |
$ | 42,771,000 | |
|