SEGMENT INFORMATION (Tables)

9 Months Ended

Mar. 31, 2016

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment [Table Text Block]

Information below represents reporting segments for the three and nine months ended March 31, 2016 and 2015, respectively. Operating income for rental properties consist of rental income. Operating income from hotel operations consists of the operation of the hotel and operation of the garage. Income (loss) from investment transactions consist of net investment gain (loss), impairment loss on other investments, net unrealized gain (loss) on other investments, dividend and interest income and trading and margin interest expense.

As of and for the three months	Hotel		Real Estate		Investment
ended March 31, 2016	Operations		Operations		Transactions		Other		Total
Revenues	$	14,481,000	$	102,000	$	-	$	-	$	14,583,000
Segment operating expenses		(17,067,000)		(20,000)		-		(254,000)		(17,341,000)
Segment income (loss)		(2,586,000)		82,000		-		(254,000)		(2,758,000)
Interest expense - mortgage		(1,921,000)		(23,000)		-		-		(1,944,000)
Depreciation and amortization expense		(755,000)		(22,000)		-		-		(777,000)
Loss from investments		-		-		(411,000)		-		(411,000)
Income tax benefit		-		-		-		1,970,000		1,970,000
Net income (loss)	$	(5,262,000)	$	37,000	$	(411,000)	$	1,716,000	$	(3,920,000)
Total assets	$	52,153,000	$	5,042,000	$	6,562,000	$	12,086,000	$	75,843,000

As of and for the three months	Hotel		Real Estate		Investment
ended March 31, 2015	Operations		Operations		Transactions		Other		Total
Revenues	$	13,983,000	$	158,000	$	-	$	-	$	14,141,000
Segment operating expenses		(11,997,000)		(92,000)		-		(240,000)		(12,329,000)
Segment income (loss)		1,986,000		66,000		-		(240,000)		1,812,000
Interest expense - mortgage		(1,913,000)		(25,000)		-		-		(1,938,000)
Depreciation and amortization expense		(719,000)		(15,000)		-		-		(734,000)
Loss from investments		-		-		(810,000)		-		(810,000)
Income tax benefit		-		-		-		503,000		503,000
Net income (loss)	$	(646,000)	$	26,000	$	(810,000)	$	263,000	$	(1,167,000)
Total assets	$	48,175,000	$	4,934,000	$	10,709,000	$	8,581,000	$	72,399,000

As of and for the nine months	Hotel		Real Estate		Investment
ended March 31, 2016	Operations		Operations		Transactions		Other		Total
Revenues	$	43,332,000	$	334,000	$	-	$	-	$	43,666,000
Segment operating expenses		(40,229,000)		(125,000)		-		(796,000)		(41,150,000)
Segment income (loss)		3,103,000		209,000		-		(796,000)		2,516,000
Interest expense - mortgage		(5,803,000)		(71,000)		-		-		(5,874,000)
Loss on disposal of assets		(30,000)		-		-		-		(30,000)
Depreciation and amortization expense		(2,226,000)		(62,000)		-		-		(2,288,000)
Loss from investments		-		-		(3,398,000)		-		(3,398,000)
Income tax benefit		-		-		-		2,752,000		2,752,000
Net income (loss)	$	(4,956,000)	$	76,000	$	(3,398,000)	$	1,956,000	$	(6,322,000)
Total assets	$	52,153,000	$	5,042,000	$	6,562,000	$	12,086,000	$	75,843,000

As of and for the nine months	Hotel		Real Estate		Investment
ended March 31, 2015	Operations		Operations		Transactions		Other		Total
Revenues	$	42,857,000	$	475,000	$	-	$	-	$	43,332,000
Segment operating expenses		(35,868,000)		(219,000)		-		(748,000)		(36,835,000)
Segment loss		6,989,000		256,000		-		(748,000)		6,497,000
Interest expense - mortgage		(5,876,000)		(75,000)		-		-		(5,951,000)
Loss on disposal of assets		(51,000)		-		-		-		(51,000)
Depreciation and amortization expense		(2,074,000)		(46,000)		-		-		(2,120,000)
Income from investments		-		-		(2,364,000)		-		(2,364,000)
Income tax benefit		-		-		-		1,232,000		1,232,000
Net income (loss)	$	(1,012,000)	$	135,000	$	(2,364,000)	$	484,000	$	(2,757,000)
Total assets	$	48,175,000	$	4,934,000	$	10,709,000	$	8,581,000	$	72,399,000