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SEGMENT INFORMATION
3 Months Ended
Sep. 30, 2017
Segment Reporting [Abstract]  
Segment Reporting Disclosure [Text Block]
NOTE 7 – SEGMENT INFORMATION
 
The Company operates in three reportable segments, the operation of the Hotel (“Hotel Operations”), its multi-family residential properties (“Real Estate Operations”) and the investment of its cash in marketable securities and other investments (“Investment Transactions”). These three operating segments, as presented in the financial statements, reflect how management internally reviews each segment’s performance. Management also makes operational and
strategic decisions based on this same information.
 
Information below represents reporting segments for the three months ended September 30, 2017 and 2016, respectively. Segment income from Hotel operations consists of the operation of the Hotel and operation of the garage. Segment income from real estate operations consists of the operation of the rental properties. Segment (loss) gain from investments consists of net investment gain (loss), dividend and interest income and investment related expenses.
  
As of and for the three months
 
Hotel
 
Real Estate
 
Investment
 
 
 
 
 
 
 
ended September 30, 2017
 
Operations
 
Operations
 
Transactions
 
Other
 
Total
 
Revenues
 
$
14,437,000
 
$
85,000
 
$
-
 
$
-
 
$
14,522,000
 
Segment operating expenses
 
 
(10,589,000)
 
 
(48,000)
 
 
-
 
 
(326,000)
 
 
(10,963,000)
 
Segment income (loss)
 
 
3,848,000
 
 
37,000
 
 
-
 
 
(326,000)
 
 
3,559,000
 
Interest expense - mortgage
 
 
(1,987,000)
 
 
(22,000)
 
 
-
 
 
-
 
 
(2,009,000)
 
Depreciation and amortization expense
 
 
(673,000)
 
 
(25,000)
 
 
-
 
 
-
 
 
(698,000)
 
Loss from investments
 
 
-
 
 
-
 
 
(505,000)
 
 
-
 
 
(505,000)
 
Income tax expense
 
 
-
 
 
-
 
 
-
 
 
(262,000)
 
 
(262,000)
 
Net income (loss)
 
$
1,188,000
 
$
(10,000)
 
$
(505,000)
 
$
(588,000)
 
$
85,000
 
Total assets
 
$
47,021,000
 
$
4,989,000
 
$
5,748,000
 
$
12,695,000
 
$
70,453,000
 
 
As of and for the three months
 
Hotel
 
Real Estate
 
Investment
 
 
 
 
 
 
 
ended September 30, 2016
 
Operations
 
Operations
 
Transactions
 
Other
 
Total
 
Revenues
 
$
14,605,000
 
$
90,000
 
$
-
 
$
-
 
$
14,695,000
 
Segment operating expenses
 
 
(10,256,000)
 
 
(48,000)
 
 
-
 
 
(245,000)
 
 
(10,549,000)
 
Segment income (loss)
 
 
4,349,000
 
 
42,000
 
 
-
 
 
(245,000)
 
 
4,146,000
 
Interest expense - mortgage
 
 
(1,988,000)
 
 
(23,000)
 
 
-
 
 
-
 
 
(2,011,000)
 
Depreciation and amortization expense
 
 
(688,000)
 
 
(24,000)
 
 
-
 
 
-
 
 
(712,000)
 
Income from investments
 
 
-
 
 
-
 
 
370,000
 
 
-
 
 
370,000
 
Income tax expense
 
 
-
 
 
-
 
 
-
 
 
(705,000)
 
 
(705,000)
 
Net income (loss)
 
$
1,673,000
 
$
(5,000)
 
$
370,000
 
$
(950,000)
 
$
1,088,000
 
Total assets
 
$
47,207,000
 
$
5,091,000
 
$
8,351,000
 
$
11,685,000
 
$
72,334,000