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SEGMENT INFORMATION
 6 Months Ended
Dec. 31, 2018
Segment Reporting [Abstract]  
Segment Reporting Disclosure [Text Block]
NOTE 9 – 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 and six months ended December 31, 2018 and 2017, respectively. Segment income from Hotel operations consists of the operation of the Hotel and operation of the garage. Segment income (loss) 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 December 31, 2018
 
Operations
 
 
Operations
 
 
Transactions
 
 
Corporate
 
 
Total
 
Revenues
 
$
13,997,000
 
 
$
84,000
 
 
$
-
 
 
$
-
 
 
$
14,081,000
 
Segment operating expenses
 
 
(11,236,000
)
 
 
(61,000
)
 
 
-
 
 
 
(223,000
)
 
 
(11,520,000
)
Segment income (loss)
 
 
2,761,000
 
 
 
23,000
 
 
 
-
 
 
 
(223,000
)
 
 
2,561,000
 
Interest expense - mortgage
 
 
(1,887,000
)
 
 
(25,000
)
 
 
-
 
 
 
-
 
 
 
(1,912,000
)
Depreciation and amortization expense
 
 
(618,000
)
 
 
(27,000
)
 
 
-
 
 
 
-
 
 
 
(645,000
)
Loss from investments
 
 
-
 
 
 
-
 
 
 
(515,000
)
 
 
-
 
 
 
(515,000
)
Income tax benefit
 
 
-
 
 
 
-
 
 
 
-
 
 
 
141,000
 
 
 
141,000
 
Net income (loss)
 
$
256,000
 
 
$
(29,000
)
 
$
(515,000
)
 
$
(82,000
)
 
$
(370,000
)
Total assets
 
$
54,829,000
 
 
$
4,914,000
 
 
$
2,227,000
 
 
$
5,609,000
 
 
$
67,579,000
 
 
For the three months
 
Hotel
 
 
Real Estate
 
 
Investment
 
 
 
 
 
 
 
ended December 31, 2017
 
Operations
 
 
Operations
 
 
Transactions
 
 
Corporate
 
 
Total
 
Revenues
 
$
13,187,000
 
 
$
86,000
 
 
$
-
 
 
$
-
 
 
$
13,273,000
 
Segment operating expenses
 
 
(10,743,000
)
 
 
(45,000
)
 
 
-
 
 
 
(303,000
)
 
 
(11,091,000
)
Segment income (loss)
 
 
2,444,000
 
 
 
41,000
 
 
 
-
 
 
 
(303,000
)
 
 
2,182,000
 
Interest expense - mortgage
 
 
(1,980,000
)
 
 
(23,000
)
 
 
-
 
 
 
-
 
 
 
(2,003,000
)
Depreciation and amortization expense
 
 
(658,000
)
 
 
(26,000
)
 
 
-
 
 
 
-
 
 
 
(684,000
)
Loss from investments
 
 
-
 
 
 
-
 
 
 
(1,045,000
)
 
 
-
 
 
 
(1,045,000
)
Income tax expense
 
 
-
 
 
 
-
 
 
 
-
 
 
 
(2,902,000
)
 
 
(2,902,000
)
Net loss
 
$
(194,000
)
 
$
(8,000
)
 
$
(1,045,000
)
 
$
(3,205,000
)
 
$
(4,452,000
)
 
As of and for the six months
 
Hotel
 
 
Real Estate
 
 
Investment
 
 
 
 
 
 
 
ended December 31, 2018
 
Operations
 
 
Operations
 
 
Transactions
 
 
Corporate
 
 
Total
 
Revenues
 
$
29,807,000
 
 
$
161,000
 
 
$
-
 
 
$
-
 
 
$
29,968,000
 
Segment operating expenses
 
 
(22,046,000
)
 
 
(118,000
)
 
 
-
 
 
 
(479,000
)
 
 
(22,643,000
)
Segment income (loss)
 
 
7,761,000
 
 
 
43,000
 
 
 
-
 
 
 
(479,000
)
 
 
7,325,000
 
Interest expense - mortgage
 
 
(3,792,000
)
 
 
(178,000
)
 
 
-
 
 
 
-
 
 
 
(3,970,000
)
Depreciation and amortization expense
 
 
(1,235,000
)
 
 
(54,000
)
 
 
-
 
 
 
-
 
 
 
(1,289,000
)
Loss from investments
 
 
-
 
 
 
-
 
 
 
(880,000
)
 
 
-
 
 
 
(880,000
)
Income tax expense
 
 
-
 
 
 
-
 
 
 
-
 
 
 
(489,000
)
 
 
(489,000
)
Net income (loss)
 
$
2,734,000
 
 
$
(189,000
)
 
$
(880,000
)
 
$
(968,000
)
 
$
697,000
 
Total assets
 
$
54,829,000
 
 
$
4,914,000
 
 
$
2,227,000
 
 
$
5,609,000
 
 
$
67,579,000
 
 
For the six months
 
Hotel
 
 
Real Estate
 
 
Investment
 
 
 
 
 
 
 
ended December 31, 2017
 
Operations
 
 
Operations
 
 
Transactions
 
 
Corporate
 
 
Total
 
Revenues
 
$
27,624,000
 
 
$
171,000
 
 
$
-
 
 
$
-
 
 
$
27,795,000
 
Segment operating expenses
 
 
(21,332,000
)
 
 
(93,000
)
 
 
-
 
 
 
(629,000
)
 
 
(22,054,000
)
Segment income (loss)
 
 
6,292,000
 
 
 
78,000
 
 
 
-
 
 
 
(629,000
)
 
 
5,741,000
 
Interest expense - mortgage
 
 
(3,967,000
)
 
 
(45,000
)
 
 
-
 
 
 
-
 
 
 
(4,012,000
)
Depreciation and amortization expense
 
 
(1,331,000
)
 
 
(51,000
)
 
 
-
 
 
 
-
 
 
 
(1,382,000
)
Loss from investments
 
 
-
 
 
 
-
 
 
 
(1,550,000
)
 
 
-
 
 
 
(1,550,000
)
Income tax expense
 
 
-
 
 
 
-
 
 
 
-
 
 
 
(3,164,000
)
 
 
(3,164,000
)
Net income (loss)
 
$
994,000
 
 
$
(18,000
)
 
$
(1,550,000
)
 
$
(3,793,000
)
 
$
(4,367,000
)