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Subsequent Events
9 Months Ended
Oct. 31, 2018
Subsequent Events [Abstract]  
Subsequent Events

13. SUBSEQUENT EVENTS

 

Subsequent to October 31, 2018, the Trust repurchased 26,644 shares of common stock on the open mark on various dates for a total cash purchase price of approximately $47,000.

 

Subsequent to October 31, 2018, the Trust, through its subsidiary Yuma Hospitality, made a cash distribution of approximately $7,773,000 to third party syndicate investors and approximately $825,000 to REF, a related party, in connection with the sale of Yuma.

 

On December 6, 2018, the Board approved a bonus in the amount of $36,000 to be paid over a 5 month period to the Executive Vice President of the Trust. The bonus is in connection with the sale of the Yuma Hotel property.

 

On December 6, 2018, the Board declared a dividend of $0.01 per share payable on January 30, 2019 to shareholders of record as of January 10, 2019.