Discontinued Operations (Tables)

9 Months Ended

Oct. 31, 2017

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Assets and Liabilities of Discontinued Operations

The following unaudited financial information presents the aggregate carrying amounts of the classes of assets and liabilities of discontinued operations for the nine months ended October 1, 2017 and the fiscal year ended January 31, 2017 as well as the statements of operations for the nine months and three months ended October 31, 2017 and the nine months and three months ended October 31, 2016.

	DISCONTINUED OPERATIONS
	OCTOBER 31, 2017		JANUARY 31, 2017
	(UNAUDITED)
ASSETS
Current Assets:
Cash and Cash Equivalents	$	11,785	$	89,561
Accounts Receivable		-		92,743
Prepaid Expenses and Other Current Assets		-		46,823
Total Current Assets of Discontinued Operations		11,785		229,127
Property, Plant and Equipment, net		-		6,080,597
TOTAL ASSETS OF DISCONTINUED OPERATIONS	$	11,785	$	6,309,724
LIABILITIES
LIABILITIES
Current Liabilities:
Accounts Payable and Accrued Expenses	$	3,000	$	400,402
Current Portion of Mortgage Notes Payable		-		185,207
Total Current Liabilities of Discontinued Operations		3,000		585,609
Mortgage Notes Payable		-		5,047,838
TOTAL LIABILITIES OF DISCONTINUED OPERATIONS	$	3,000	$	5,633,447

	FOR THE NINE MONTHS ENDED
	OCTOBER 31,
	2017			2016     (i)
REVENUE
Room	$	1,397,324		$	2,927,489
Food and Beverage		64,976			126,193
Other		8,443			20,922
TOTAL REVENUE		1,470,743			3,074,604
OPERATING EXPENSES
Room		939,897			941,512
Food and Beverage		66,152			147,006
Telecommunications		-			656
General and Administrative		278,815			341,108
Sales and Marketing		123,300			199,453
Repairs and Maintenance		100,149			221,621
Hospitality		122,227			167,889
Utilities		74,640			193,695
Depreciation		177,824			574,528
Intangible Amortization		-			-
Real Estate and Personal Property Taxes, Insurance and Ground Rent		56,015			99,599
Other		3,569			(974	)
TOTAL OPERATING EXPENSES		1,942,588			2,886,093
OPERATING (LOSS) INCOME		(471,845	)		188,511
Interest Income		961			-
TOTAL OTHER INCOME		961			-
Interest on Mortgage Notes Payable		127,787			208,765
Interest on Other Notes Payable		428			4,518
TOTAL INTEREST EXPENSE		128,215			213,283
CONSOLIDATED NET LOSS OF DISCONTINUED OPERATIONS	$	(599,099	)	$	(24,772	)

(i) Discontinued Operations

	FOR THE THREE MONTHS ENDED
	OCTOBER 31,
	2017			2016
REVENUE
Room	$	-		$	995,493
Food and Beverage		-			37,726
Management and Trademark Fees		-			-
Reservation and Convention		-			-
Other		-			3,630
TOTAL REVENUE		-			1,036,849
OPERATING EXPENSES
Room		-			342,367
Food and Beverage		-			44,828
Telecommunications		-			49
General and Administrative		21,951			113,618
Sales and Marketing		-			58,146
Repairs and Maintenance		-			58,308
Hospitality		-			49,668
Utilities		-			71,392
Depreciation		-			574,528
Intangible Amortization		-			-
Real Estate and Personal Property Taxes, Insurance and Ground Rent		-			28,905
Other		-			10,015
TOTAL OPERATING EXPENSES		21,951			1,351,824
OPERATING LOSS		(21,951	)		(314,975	)
Interest Income		-			-
Interest Income on Advances to Affiliates - Related Party		-			-
TOTAL OTHER INCOME		-			-
Interest on Mortgage Notes Payable		-			69,682
Interest on Notes Payable to Banks		-			-
Interest on Other Notes Payable		-			-
Interest on Advances to Affiliates - Related Party		-			-
TOTAL INTEREST EXPENSE		-			69,682
CONSOLIDATED NET LOSS OF DISCONTINUED OPERATIONS	$	(21,951	)	$	(384,657	)