OTHER ASSETS, NET

12 Months Ended

Jun. 30, 2013

Other Assets [Abstract]

Other Assets Disclosure [Text Block]

NOTE 8 – OTHER ASSETS, NET

Other assets consist of the following as of June 30:

	2013		2012
Inventory - hotel	$	918,000	$	907,000
Prepaid expenses		581,000		945,000
Note receivable - related party		644,000		654,000
Miscellaneous assets, net		961,000		836,000
Total other assets	$	3,104,000	$	3,342,000

Amortization expense of loan fees and franchise costs for the years ended June 30, 2013 and 2012 was $72,000 each year.