XML 14 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Oct. 31, 2018
Oct. 31, 2017
Oct. 31, 2018
Oct. 31, 2017
REVENUE        
Room $ 1,435,454 $ 1,217,292 $ 4,582,269 $ 3,995,074
Food and Beverage 12,249 9,869 34,412 16,188
Management and Trademark Fees 38,103 38,820 128,546 157,242
Other 15,390 38,976 58,044 68,362
TOTAL REVENUE 1,501,196 1,304,956 4,803,272 4,236,867
OPERATING EXPENSES        
Room 491,681 402,400 1,474,271 1,276,625
Food and Beverage 17,219 12,348 52,479 18,434
Telecommunications 291 764 3,479 2,382
General and Administrative 565,482 560,966 1,727,224 1,780,638
Sales and Marketing 91,810 132,743 440,137 413,118
Repairs and Maintenance 164,633 99,808 362,303 294,885
Hospitality 115,191 113,097 343,772 335,274
Utilities 58,261 91,862 274,273 271,916
Depreciation 209,196 201,690 620,610 526,567
Real Estate and Personal Property Taxes, Insurance and Ground Rent 95,787 102,501 291,781 296,475
Other 3,832 3,023 0
TOTAL OPERATING EXPENSES 1,813,381 1,718,179 5,593,353 5,216,315
OPERATING LOSS (312,185) (413,222) (790,081) (979,448)
Interest Income 34,232 4,566 95,111 6,288
TOTAL OTHER INCOME 34,232 4,566 95,111 6,288
Interest on Mortgage Notes Payable 63,722 68,046 182,675 162,636
Interest on Notes Payable to Banks 12,075 (4,767) 41,544 (9,087)
Interest on Other Notes Payable 37,674 4,256 70,217 39,710
Interest on Advances to Affiliates - Related Party
TOTAL INTEREST EXPENSE 113,472 67,535 294,436 193,259
CONSOLIDATED NET LOSS BEFORE INCOME TAX PROVISION AND DISCONTINUED OPERATIONS (391,425) (476,191) (989,406) (1,166,419)
Income Tax Provision (197,896) (407,727) (330,000)
CONSOLIDATED NET LOSS FROM CONTINUING OPERATIONS (589,321) (476,191) (1,397,133) (1,496,419)
Discontinued Operations, Net of Non-Controlling Interest (675,257) (350,637) (801,996) (1,219,106)
Gain on Disposal of Discontinued Operations 13,323,418 13,323,418 11,445,879
CONSOLIDATED NET INCOME (LOSS) FROM DISCONTINUED OPERATIONS AND GAIN ON SALE OF DISCONTINUED OPERATIONS 12,648,161 (350,637) 12,521,422 10,226,773
CONSOLIDATED NET INCOME (LOSS) 12,058,840 (826,828) 11,124,289 8,730,354
LESS: NET INCOME (LOSS) ATTRIBUTABLE TO NON-CONTROLLING INTEREST 9,159,128 (128,821) 9,594,620 113,519
NET INCOME (LOSS) ATTRIBUTABLE TO CONTROLLING INTERESTS $ 2,899,711 $ (698,007) $ 1,529,669 $ 8,616,835
NET LOSS PER SHARE FROM CONTINUING OPERATIONS - BASIC $ (0.06) $ (0.05) $ (0.15) $ (0.15)
NET INCOME (LOSS) PER SHARE FROM DISCONTINUED OPERATIONS - BASIC 1.34 (0.04) 1.31 1.04
NET INCOME (LOSS) PER SHARE FROM NON-CONTROLLING INTEREST - BASIC 0.97 (0.01) 1.00 0.01
NET INCOME (LOSS) PER SHARE CONTROLLING INTEREST - BASIC $ 0.31 $ (0.07) $ 0.16 $ 0.88
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING - BASIC 9,426,212 9,566,948 9,570,253 9,847,104
NET LOSS PER SHARE FROM CONTINUING OPERATIONS - DILUTED $ (0.05) $ (0.05) $ (0.11) $ (0.11)
NET INCOME (LOSS) PER SHARE FROM DISCONTINUED OPERATIONS - DILUTED 0.99 (0.04) 0.99 0.78
NET INCOME (LOSS) PER SHARE FROM NON-CONTROLLING INTEREST - DILUTED 0.72 (0.01) 0.76 0.01
NET (LOSS) INCOME PER SHARE CONTROLLING INTEREST - DILUTED $ 0.23 $ (0.07) $ 0.12 $ 0.65
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING - DILUTED 12,734,626 9,566,948 12,671,891 13,161,778