The InterGroup Corporation (INTG) 10-Q13 Nov 242025 Q1 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	3 Months Ended
Cover - shares	Sep. 30, 2024	Nov. 13, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2024
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2025
Current Fiscal Year End Date	--06-30
Entity File Number	1-10324
Entity Registrant Name	THE INTERGROUP CORPORATION
Entity Central Index Key	0000069422
Entity Tax Identification Number	13-3293645
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	1516 S. Bundy Dr.
Entity Address, Address Line Two	Suite 200
Entity Address, City or Town	Los Angeles
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90025
City Area Code	(310)
Local Phone Number	889-2500
Title of 12(b) Security	Common stock
Trading Symbol	INTG
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		2,167,653

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2024	Jun. 30, 2024
ASSETS
Investment in Hotel, net	$ 40,241,000	$ 40,901,000
Investment in real estate, net	47,274,000	47,542,000
Investment in marketable securities	7,609,000	7,454,000
Cash and cash equivalents	5,592,000	4,333,000
Restricted cash	4,626,000	4,361,000
Other assets, net	3,985,000	3,220,000
Total assets	109,327,000	107,811,000
Liabilities:
Accounts payable and other liabilities - Hotel	16,061,000	13,757,000
Accounts payable and other liabilities	4,219,000	4,265,000
Obligations for securities sold	961,000	188,000
Other notes payable	2,404,000	2,388,000
Deferred tax liability	4,724,000	4,724,000
Mortgage notes payable - Hotel, net	100,546,000	100,783,000
Mortgage notes payable - real estate, net	87,891,000	88,173,000
Total liabilities	216,806,000	214,278,000
Shareholders’ deficit:
Preferred stock, $.01 par value, 100,000 shares authorized; none issued
Common stock, $.01 par value, 4,000,000 shares authorized; 3,459,888 and 3,459,888 issued; 2,167,653 and 2,178,955 outstanding, respectively	38,000	38,000
Additional paid-in capital	3,693,000	3,648,000
Accumulated deficit	(63,030,000)	(62,632,000)
Treasury stock, at cost, 1,292,235 and 1,280,933 shares, respectively	(21,598,000)	(21,393,000)
Total InterGroup shareholders’ deficit	(80,897,000)	(80,339,000)
Noncontrolling interest	(26,582,000)	(26,128,000)
Total shareholders’ deficit	(107,479,000)	(106,467,000)
Total liabilities and shareholders’ deficit	$ 109,327,000	$ 107,811,000

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2024	Jun. 30, 2024
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	100,000	100,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	4,000,000	4,000,000
Common stock, shares issued	3,459,888	3,459,888
Common stock, shares outstanding	2,167,653	2,178,955
Treasury stock, shares	1,292,235	1,280,933

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Revenues:
Total revenues	$ 16,906,000	$ 15,510,000
Costs and operating expenses:
Hotel operating expenses	(8,792,000)	(9,281,000)
Real estate operating expenses	(2,457,000)	(2,356,000)
Depreciation and amortization expenses	(1,668,000)	(1,522,000)
General and administrative expenses	(860,000)	(755,000)
Total costs and operating expenses	(13,777,000)	(13,914,000)
Income from operations	3,129,000	1,596,000
Other (expense) income:
Interest expense - mortgages	(3,514,000)	(2,251,000)
Net gain (loss) on marketable securities	129,000	(785,000)
Dividend and interest income	87,000	126,000
Trading and margin interest expense	(324,000)	(322,000)
Total other expense, net	(3,622,000)	(3,232,000)
Loss before income taxes	(493,000)	(1,636,000)
Income tax (expense) benefit	(359,000)	14,000
Net loss	(852,000)	(1,622,000)
Less: Net loss attributable to the noncontrolling interest	454,000	378,000
Net loss attributable to The InterGroup Corporation	$ (398,000)	$ (1,244,000)
Net loss per share
Basic	$ (0.39)	$ (0.74)
Diluted	(0.39)	(0.74)
Net loss per share attributable to The InterGroup Corporation
Basic	(0.18)	(0.56)
Diluted	$ (0.18)	$ (0.56)
Weighted average number of basic common shares outstanding	2,173,461	2,204,852
Weighted average number of diluted common shares outstanding	2,173,461	2,204,852
Hotel [Member]
Revenues:
Total revenues	$ 11,820,000	$ 11,093,000
Real Estate [Member]
Revenues:
Total revenues	$ 5,086,000	$ 4,417,000

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Shareholders' Deficit (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock, Common [Member]	Parent [Member]	Noncontrolling Interest [Member]	Total
Balance at Jun. 30, 2023	$ 33,000	$ 2,445,000	$ (52,835,000)	$ (20,794,000)	$ (71,151,000)	$ (23,453,000)	$ (94,604,000)
Balance, shares at Jun. 30, 2023	3,459,888
Net loss			(1,244,000)		(1,244,000)	(378,000)	(1,622,000)
Purchase of treasury stock				(39,000)	(39,000)		(39,000)
Investment in Portsmouth		(106,000)			(106,000)	84,000	(22,000)
Balance at Sep. 30, 2023	$ 33,000	2,339,000	(54,079,000)	(20,833,000)	(72,540,000)	(23,747,000)	(96,287,000)
Balance, shares at Sep. 30, 2023	3,459,888
Balance at Jun. 30, 2024	$ 38,000	3,648,000	(62,632,000)	(21,393,000)	(80,339,000)	(26,128,000)	(106,467,000)
Balance, shares at Jun. 30, 2024	3,459,888
Net loss			(398,000)		(398,000)	(454,000)	(852,000)
Stock options expense		45,000			45,000		45,000
Purchase of treasury stock				(205,000)	(205,000)		(205,000)
Balance at Sep. 30, 2024	$ 38,000	$ 3,693,000	$ (63,030,000)	$ (21,598,000)	$ (80,897,000)	$ (26,582,000)	$ (107,479,000)
Balance, shares at Sep. 30, 2024	3,459,888

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net loss	$ (852,000)	$ (1,622,000)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	1,668,000	1,522,000
Amortization of loan costs	372,000	90,000
Amortization of other notes payable	16,000	(141,000)
Stock compensation expense	45,000
Net unrealized (gain) loss on marketable securities	(788,000)	679,000
Changes in operating assets and liabilities:
Investment in marketable securities	633,000	4,076,000
Other assets	(765,000)	(1,440,000)
Accounts payable and other liabilities - Hotel	2,304,000	(898,000)
Accounts payable and other liabilities	(46,000)	2,691,000
Due to securities broker		(2,377,000)
Obligations for securities sold	773,000	(679,000)
Net cash provided by operating activities	3,360,000	1,901,000
Cash flows from investing activities:
Payments for hotel investments	(269,000)	(754,000)
Payments for real estate investments	(471,000)	(608,000)
Payments for investment in Portsmouth		(22,000)
Net cash used in investing activities	(740,000)	(1,384,000)
Cash flows from financing activities:
Payments of mortgage notes payable	(891,000)	(593,000)
Purchase of treasury stock	(205,000)	(39,000)
Net cash used in financing activities	(1,096,000)	(632,000)
Net change in cash, cash equivalents and restricted cash	1,524,000	(115,000)
Cash, cash equivalents and restricted cash at the beginning of the period	8,694,000	12,874,000
Cash, cash equivalents and restricted cash at the end of the period	10,218,000	12,759,000
Supplemental information:
Interest paid	1,937,000	1,937,000
Taxes paid		$ 23,000

BASIS OF PRESENTATION AND SIGNI

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	Sep. 30, 2024
Accounting Policies [Abstract]
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	NOTE 1. BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES The condensed consolidated financial statements included herein have been prepared by The InterGroup Corporation (“InterGroup” or the “Company”or “we” or “our”), according to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in the condensed consolidated financial statements prepared in accordance with generally accepted accounting principles (U.S. GAAP) have been condensed or omitted pursuant to such rules and regulations, although the Company believes the disclosures that are made are adequate to make the information presented not misleading. Further, the condensed consolidated financial statements reflect, in the opinion of management, all adjustments (which included only normal recurring adjustments) necessary for a fair statement of the financial position, cash flows and results of operations as of and for the periods indicated. It is suggested that these financial statements be read in conjunction with the audited financial statements of InterGroup and the notes therein included in the Company’s Annual Report on Form 10-K for the year ended June 30, 2024. The June 30, 2024 Condensed Consolidated Balance Sheet was derived from the Consolidated Balance Sheet as included in the Company’s Form 10-K for the year ended June 30, 2024. The unaudited condensed consolidated financial statements include the accounts of our wholly owned and majority-owned subsidiaries. All material intercompany accounts and transactions have been eliminated in consolidation. The results of operations for the three months ended September 30, 2024 are not necessarily indicative of results to be expected for the full fiscal year ending June 30, 2025. Effective February 19, 2021, the Company’s 83.7 68.8 75.7 2.5 Portsmouth’s primary business was conducted through its general and limited partnership interest in Justice Investors Limited Partnership, a California limited partnership (“Justice” or the “Partnership”). Effective July 15, 2021, Portsmouth completed the purchase of 100 0.7 Prior to its dissolution effective December 23, 2021, Justice owned and operated a 544-room hotel property located at 750 Kearny Street, San Francisco California, known as the Hilton San Francisco Financial District (the “Hotel”) and related facilities including a five-level underground parking garage through its subsidiaries Justice Operating Company, LLC (“Operating”) and Justice Mezzanine Company, LLC (“Mezzanine”). Mezzanine was a wholly owned subsidiary of the Partnership; Operating is a wholly owned subsidiary of Mezzanine. Effective December 23, 2021, Portsmouth replaced Justice as the single member of Mezzanine. Mezzanine is the borrower under certain mezzanine indebtedness of Justice, and in December 2013, the Partnership conveyed ownership of the Hotel to Operating. The Hotel is a full-service Hilton brand hotel pursuant to a Franchise License Agreement with HLT Franchise Holding LLC (“Hilton”) through January 31, 2030. Aimbridge Hospitality (“Aimbridge”) manages the Hotel, along with its five-level parking garage, under certain Hotel management agreement (“HMA”) with Operating. The term of the management agreement is for an initial period of ten years commencing on February 3, 2017 and automatically renews for successive one (1) year periods, to not exceed five years in the aggregate, subject to certain conditions. Under the terms on the HMA, base management fee payable to Aimbridge shall be one and seven-tenths percent (1.70%) of total Hotel revenue. In addition to the Basic Fee, Aimbridge shall be entitled to an annual incentive fee for each fiscal year equal to ten percent (10%) of the amount by which Gross Operating Profit in the current fiscal year exceeds the previous fiscal year’s Gross Operating Profit. However, the Company after discussions with Aimbridge regarding a dispute in connection with the validity of the incentive fees as they relate directly to the Covid pandemic, the Company and Aimbridge agreed that there was no incentive fees due to Aimbridge as the year-over-year improvement resulted of the recovery from the pandemic. Therefore, Aimbridge agreed to waive $ 1,030,134 15,257,301 In addition to the operations of the Hotel, the Company also generates income from the ownership of real estate. Properties include apartment complexes, commercial real estate, and three single-family houses as strategic investments. The properties are located throughout the United States but are concentrated in Texas and Southern California. The Company also has investments in unimproved real property. All of the Company’s residential rental properties and its commercial rental property are managed in-house. There have been no material changes to the Company’s significant accounting policies during the three months ended September 30, 2024. Please refer to the Company’s Annual Report on Form 10-K for the year ended June 30, 2024 for a summary of the significant accounting policies. Recently Issued and Adopted Accounting Pronouncements Our Annual Report on Form 10-K for the year ended June 30, 2024, filed with the SEC on September 30, 2024, contains a discussion on the recently issued accounting pronouncements. As of September 30, 2024, there was no material impact from the recent adoption of new accounting pronouncements, nor expected material impact from recently issued accounting pronouncements yet to be adopted, on the Company’s condensed consolidated financial statements. Going Concern The condensed consolidated financial statements of the Hotel have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. As discussed in Note 11 – Related Party and Other Financing Transactions, as of September 30, 2024, the outstanding balance consists of a senior mortgage loan and mezzanine loan totaling $ 100,546,000 340,000 118,974,000 64,100,000 Due to these factors and the uncertainty around the Hotel’s ability to successfully refinance the debt on favorable terms in the current lending environment gives rise to substantial doubt about the Hotel’s ability to continue as a going concern for one year after the financial statement issuance date. On January 4, 2024, the Company was made aware of a notice of default (the “Notice”) issued by its senior loan special servicer LNR Partners, LLC to Justice Operating Company, LLC which is the wholly owned subsidiary of Portsmouth. The Notice states that the lender has rights as a result of such defaults, including, but not limited to, acceleration of the loans, foreclosure on collateral and other rights and remedies under the loan documents and otherwise available under the law. On January 10, 2024, the Company filed the required Form 8-K with the Securities and Exchange Commission. During the entire life of the outstanding debt, the Company has made all mortgage payments timely as of the date of maturity and as of September 30, 2024, there were no delinquent amounts due to the senior or mezzanine lenders. On April 29, 2024, the Company entered into forbearance agreements with its senior and mezzanine lenders which establishes, among other customary terms, the new maturity date of January 1, 2025. While the Company successfully entered into the aforementioned forbearance agreements, we continue our efforts to place a longer-term refinancing solution to its current senior mortgage and mezzanine debt with potential lenders. As such, there can be no assurance that the Company will be able to obtain additional liquidity when needed or under acceptable terms, if at all. The Company is also in communications with its current lenders to explore the possibility of a term extension from its maturity date of January 1, 2025. As of September 30, 2024, the Hotel has completed its full guest-rooms renovation over the last 2 years along with public space, fitness center, corridors, and meeting space. The Hotel has begun to feel the impact of the renovation when it comes to average rate and calculated by multiplying the hotel’s average daily room rate by its occupancy percentage) (“RevPAR”) growth since its completion. The Hotel continues to improve with the relocation of the business center into a meeting room and the space being converted to a lounge area for guests in the lobby. On September 5, 2024, the Hotel received its annual Quality Assurance inspection from Hilton and received the highest score at least in the Hotel’s last decade at 94.45% which is an “Outstanding” ranking by Hilton. For the quarter ending September 30, 2024, the Hotel achieved a RevPAR index of 145% while increasing the ADR index to 90%. The Hotel’s year-to-date RevPAR index is 118%. For the quarter ending September 30, 2024, the Hotel gained RevPAR year over year by 5.7% while its Comp Set was -18.5%. The condensed consolidated financial statements do not include any adjustments to the carrying amounts of assets, liabilities, and reported expenses that may be necessary if the Hotel were unable to continue as a going concern.

LIQUIDITY

LIQUIDITY	3 Months Ended
LIQUIDITY	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
LIQUIDITY	NOTE 2 - LIQUIDITY Historically, our cash flows have been primarily generated from our Hotel and real estate operations. However, the current state of affairs of the City of San Francisco, its political challenges as well as the way its local government’s policies with regard to safety, drug abuse, homelessness, crime, etc., have caused the City of San Francisco to be one of the slowest cities in the country to fully recover from the COVID-19 pandemic. Additionally, since San Francisco is a top-heavy tech company city, the “remote work” initiatives have caused a slowdown in business travel and in person meetings. Prior to the COVID-19 pandemic, our Hotel enjoyed most of its revenues from business travel, conventions, self-contained groups, etc., and post pandemic, most revenues are generated from leisure travel which is generally at a lower guest room rate. For the three months ended September 30, 2024, our net cash flow provided by operations was $ 3,360,000 269,000 471,000 The Company had cash and cash equivalents of $ 5,592,000 4,333,000 4,626,000 4,361,000 6,648,000 7,266,000 On July 2, 2014, the Partnership obtained from InterGroup an unsecured loan in the principal amount of $ 4,250,000 12 2 3 The loan was extended to July 31, 2023 10,000,000 16,000,000 11,350,000 the note maturity date was extended to July 31, 2025 20,000,000 0.5 30,000,000 0.5 10,000,000 26,493,000 zero 26,493,000 The Company’s known short-term liquidity requirements primarily consist of funds necessary to pay for operating and other expenditures, including management and franchise fees, corporate expenses, payroll and related costs, taxes, interest and principal payments on our outstanding indebtedness, and repairs and maintenance at all of our properties. Our long-term liquidity requirements primarily consist of funds necessary to pay for scheduled debt maturities and capital improvements of the Hotel and our real estate properties. We will continue to finance our business activities primarily with existing cash, including from the activities described above, and cash generated from our operations. The objectives of our cash management policy are to maintain existing leverage levels and the availability of liquidity, while minimizing operational costs. However, there can be no guarantee that management will be successful with its plan. The following table provides a summary as of September 30, 2024, the Company’s material financial obligations which also includes interest payments. SCHEDULE OF MATERIAL FINANCING OBLIGATION 9 Months Year Year Year Year Total 2025 2026 2027 2028 2029 Thereafter Mortgage and subordinated notes payable $ 189,594,000 $ 109,886,000 $ 1,161,000 $ 3,295,000 $ 1,768,000 $ 1,843,000 $ 71,641,000 Other notes payable 2,404,000 425,000 567,000 463,000 317,000 317,000 315,000 Interest 26,134,000 4,921,000 2,757,000 2,649,000 2,653,000 2,587,000 10,567,000 Total $ 218,132,000 $ 115,232,000 $ 4,485,000 $ 6,407,000 $ 4,738,000 $ 4,747,000 $ 82,523,000

REVENUE

REVENUE	3 Months Ended
REVENUE	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
REVENUE	NOTE 3 – REVENUE Our revenue from real estate is primarily rental income from residential and commercial property leases which is recorded when due from residents and is recognized monthly as earned. The revenue recognition rules under ASC 606 specifically eliminate rental revenue from the accounting standard. The following table presents our Hotel revenue disaggregated by revenue streams. SCHEDULE OF DISAGGREGATION OF REVENUE For the three months ended September 30, 2024 2023 Hotel revenues: Hotel rooms $ 10,110,000 $ 9,561,000 Food and beverage 733,000 627,000 Garage 875,000 825,000 Other operating departments 102,000 80,000 Total hotel revenue $ 11,820,000 $ 11,093,000 Performance Obligations We identified the following performance obligations for which revenue is recognized as the respective performance obligations are satisfied, which results in recognizing the amount we expect to be entitled to for providing the goods or services: ● Cancelable room reservations or ancillary services ● Non-cancelable room reservations and banquet or conference reservations ● Other ancillary goods and services ● Components of package reservations Hotel revenue primarily consists of hotel room rentals, revenue from accommodations sold in conjunction with other services (e.g., package reservations), food and beverage sales and other ancillary goods and services (e.g., parking). Revenue is recognized when rooms are occupied or goods and services have been delivered or rendered, respectively. Payment terms typically align with when the goods and services are provided. For package reservations, the transaction price is allocated to the performance obligations within the package based on the estimated standalone selling prices of each component. We do not disclose the value of unsatisfied performance obligations for contracts with an expected length of one year or less. Due to the nature of our business, our revenue is not significantly impacted by refunds. Cash payments received in advance of guests staying at our hotel are refunded to hotel guests if the guest cancels within the specified time period, before any services are rendered. Refunds related to service are generally recognized as an adjustment to the transaction price at the time the hotel stay occurs or services are rendered. Revenue recognition from apartment rental commences when an apartment unit is placed in service and occupied by a rent-paying tenant. Apartment units are leased on a short-term basis, with no lease extending beyond one year. Contract Assets and Liabilities The Company does not have any material contract assets as of September 30, 2024 and June 30, 2024, other than trade and other receivables, net on our consolidated balance sheets. Our receivables are primarily the result of contracts with customers, which are reduced by an allowance for doubtful accounts that reflects our estimate of amounts that will not be collected. The Company records contract liabilities when cash payments are received or due in advance of guests staying at our hotel, which are presented within accounts payable and other liabilities – Hotel on our consolidated balance sheets and had a balance of $ 370,000 337,000 448,000 290,000 Contract Costs We consider sales commissions earned to be incremental costs of obtaining a contract with our customers. As a practical expedient, we expense these costs as incurred as our contracts with customers are less than one year.

INVESTMENT IN HOTEL, NET

INVESTMENT IN HOTEL, NET	3 Months Ended
INVESTMENT IN HOTEL, NET	Sep. 30, 2024
Investment In Hotel Net
INVESTMENT IN HOTEL, NET	NOTE 4 – INVESTMENT IN HOTEL, NET Investment in Hotel consisted of the following as of: SCHEDULE OF INVESTMENT IN HOTEL Accumulated Net Book September 30, 2024 Cost Depreciation Value Land $ 2,738,000 $ - $ 2,738,000 Finance lease ROU assets 1,805,000 (1,574,000 ) 231,000 Furniture and equipment 39,419,000 (31,864,000 ) 7,555,000 Building and improvements 68,318,000 (38,601,000 ) 29,717,000 Investment in Hotel, net $ 112,280,000 $ (72,039,000 ) $ 40,241,000 Accumulated Net Book June 30, 2024 Cost Depreciation Value Land $ 2,738,000 $ - $ 2,738,000 Finance lease ROU assets 1,805,000 (1,521,000 ) 284,000 Furniture and equipment 40,310,000 (31,396,000 ) 8,914,000 Building and improvements 67,159,000 (38,194,000 ) 28,965,000 Investment in Hotel, net $ 112,012,000 $ (71,111,000 ) $ 40,901,000 Finance lease ROU assets, furniture and equipment are stated at cost, depreciated on a straight-line basis over their useful lives ranging from 3 7 15 39 929,000 845,000

INVESTMENT IN REAL ESTATE, NET

INVESTMENT IN REAL ESTATE, NET	3 Months Ended
INVESTMENT IN REAL ESTATE, NET	Sep. 30, 2024
Real Estate [Abstract]
INVESTMENT IN REAL ESTATE, NET	NOTE 5 – INVESTMENT IN REAL ESTATE, NET At September 30, 2024, the Company’s investment in real estate consisted of twenty properties located throughout the United States. These properties include sixteen apartment complexes, three single-family houses as strategic investments, and one commercial real estate property. The Company also owns unimproved land located in Maui, Hawaii. Investment in real estate consisted of the following: SCHEDULE OF INVESTMENT IN REAL ESTATE As of September 30, 2024 June 30, 2024 Land $ 22,998,000 $ 22,998,000 Buildings, improvements and equipment 75,932,000 75,460,000 Accumulated depreciation (53,586,000 ) (52,846,000 ) Investment in real estate, gross 45,344,000 45,612,000 Land held for development 1,930,000 1,930,000 Investment in real estate, net $ 47,274,000 $ 47,542,000 Building, improvements, and equipment are stated at cost, depreciated on a straight-line basis over their useful lives ranging from 5 40 471,000 739,000 676,000

INVESTMENT IN MARKETABLE SECURI

INVESTMENT IN MARKETABLE SECURITIES	3 Months Ended
INVESTMENT IN MARKETABLE SECURITIES	Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]
INVESTMENT IN MARKETABLE SECURITIES	NOTE 6 – INVESTMENT IN MARKETABLE SECURITIES The Company’s investment in marketable securities consists primarily of corporate equities. The Company has also periodically invested in corporate bonds and income producing securities, which may include interests in real estate-based companies and REITs, where financial benefit could ensure its shareholders through income and/or capital gain. At September 30, 2024 and June 30, 2024, all of the Company’s marketable securities are classified as trading securities. The change in the unrealized gains and losses on these investments are included in earnings. Trading securities are summarized as follows: SCHEDULE OF TRADING SECURITIES Gross Gross Net Fair Investment Cost Unrealized Gain Unrealized Loss Unrealized Gain Value As of September 30, 2024 Corporate Equities $ 5,626,000 $ 2,337,000 $ (354,000 ) $ 1,983,000 $ 7,609,000 As of June 30, 2024 Corporate Equities $ 6,262,000 $ 1,697,000 $ (505,000 ) $ 1,192,000 $ 7,454,000 Net gains (losses) on marketable securities on the statements of operations is comprised of realized and unrealized gains (losses). Below is the composition of net losses on marketable securities for the three months ended September 30, 2024 and 2023, respectively: SCHEDULE OF NET GAINS (LOSSES) ON MARKETABLE SECURITIES COMPRISING OF REALIZED AND UNREALIZED GAINS (LOSSES) For the three months ended September 30, 2024 2023 Realized loss on marketable securities, net $ (659,000 ) $ (106,000 ) Unrealized gain (loss) on marketable securities, net 788,000 (679,000 ) Net gain (loss) on marketable securities $ 129,000 $ (785,000 )

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
FAIR VALUE MEASUREMENTS	Sep. 30, 2024
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	NOTE 7 - FAIR VALUE MEASUREMENTS The carrying values of the Company’s financial instruments not required to be carried at fair value on a recurring basis approximate fair value due to their short maturities (i.e., accounts receivable, other assets, accounts payable and other liabilities, due to securities broker and obligations for securities sold) or the nature and terms of the obligation (i.e., other notes payable and mortgage notes payable). The assets and liabilities measured at fair value on a recurring basis are as follows: SCHEDULE OF FAIR VALUE MEASUREMENT ON RECURRING BASIS As of September 30, 2024 June 30, 2024 Assets: Total - Level 1 Total - Level 1 Investment in marketable securities: REITs and real estate companies $ 4,545,000 $ 3,358,000 Healthcare 1,669,000 179,000 Technology 453,000 21,000 Energy 280,000 303,000 Financial services 203,000 269,000 Communication services 182,000 1,994,000 Utilities 105,000 163,000 Basic materials 80,000 75,000 Consumer cyclical 50,000 - Other 26,000 - Industrial 16,000 159,000 T-Notes - 933,000 Total $ 7,609,000 $ 7,454,000 The fair values of investments in marketable securities are determined by the most recently traded price of each security at the balance sheet date.

CASH, CASH EQUIVALENTS AND REST

CASH, CASH EQUIVALENTS AND RESTRICTED CASH	3 Months Ended
CASH, CASH EQUIVALENTS AND RESTRICTED CASH	Sep. 30, 2024
Cash and Cash Equivalents [Abstract]
CASH, CASH EQUIVALENTS AND RESTRICTED CASH	NOTE 8 – CASH, CASH EQUIVALENTS AND RESTRICTED CASH The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheets that sum to the total of the same such amounts shown in the condensed consolidated statements of cash flows: SCHEDULE OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH As of September 30, 2024 June 30, 2024 Cash and cash equivalents $ 5,592,000 $ 4,333,000 Restricted cash 4,626,000 4,361,000 Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statements of cash flows $ 10,218,000 $ 8,694,000 Restricted cash is comprised of amounts held by lenders for payment of real estate taxes, insurance, replacement and capital addition reserves for the Hotel and real estate properties.

STOCK BASED COMPENSATION PLANS

STOCK BASED COMPENSATION PLANS	3 Months Ended
STOCK BASED COMPENSATION PLANS	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
STOCK BASED COMPENSATION PLANS	NOTE 9 – STOCK BASED COMPENSATION PLANS The Company follows Accounting Standard Codification (ASC) Topic 718 “Compensation – Stock Compensation”, which addresses accounting for equity-based compensation arrangements, including employee stock options and restricted stock units. Please refer to Note 15 – Stock Based Compensation Plans in the Company’s Form 10-K for the year ended June 30, 2024 for more detailed information on the Company’s stock-based compensation plans. On October 13, 2023, the Compensation Committee awarded 18,000 18,000 28.90 ten years three years 6,000 On December 21, 2023, the Company extended the expiration date of the 133,195 18.65 1,175,000 18.65 0.01 6 72 50 0 0.9 4.65 Option-pricing models require the input of various subjective assumptions, including the option’s expected life, estimated forfeiture rates and the price volatility of the underlying stock. The expected stock price volatility is based on analysis of the Company’s stock price history. The Company has selected to use the simplified method for estimating the expected term. The risk-free interest rate is based on the U.S. Treasury interest rates whose term is consistent with the expected life of the stock options. No dividend yield is included as the Company has not issued any dividends and does not anticipate issuing any dividends in the future. During the three months ended September 30, 2024 and 2023, the Company recorded $ 45,000 0 The following table summarizes the stock options activity from July 1, 2023 through September 30, 2024: SCHEDULE OF STOCK OPTION ACTIVITY Number of Weighted Average Weighted Average Aggregate Shares Exercise Price Remaining Life Intrinsic Value Oustanding at July 1, 2023 251,195 $ 15.95 1.60 $ 4,957,000 Granted 18,000 28.90 9.54 - Exercised - - - - Forfeited - - - - Exchanged - - - - Outstanding at June 30, 2024 269,195 $ 16.81 4.15 $ 1,187,000 Exercisable and vested at June 30, 2024 251,195 $ 15.95 4.45 $ 1,187,000 Oustanding at July 1, 2024 269,195 $ 16.81 4.15 $ 1,187,000 Granted - - - - Exercised - - - - Forfeited - - - - Exchanged - - - - Outstanding at September 30, 2024 269,195 $ 16.81 3.90 $ 514,000 Exercisable and vested at September 30, 2024 251,195 $ 15.95 4.18 $ 514,000

SEGMENT INFORMATION

SEGMENT INFORMATION	3 Months Ended
SEGMENT INFORMATION	Sep. 30, 2024
Segment Reporting [Abstract]
SEGMENT INFORMATION	NOTE 10 – SEGMENT INFORMATION The Company operates in three three Information below represents reported segments for the three months ended September 30, 2024 and 2023. 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. Loss from investments consists of net investment loss, dividend and interest income and investment related expenses. SCHEDULE OF SEGMENT REPORTING INFORMATION As of and for the three months Hotel Real Estate Investment ended September 30, 2024 Operations Operations Transactions Corporate Total Revenues $ 11,820,000 $ 5,086,000 $ - $ - $ 16,906,000 Segment operating expenses (8,792,000 ) (2,457,000 ) - (860,000 ) (12,109,000 ) Segment income (loss) 3,028,000 2,629,000 - (860,000 ) 4,797,000 Interest expense - mortgage (2,824,000 ) (690,000 ) - - (3,514,000 ) Depreciation and amortization expense (929,000 ) (739,000 ) - - (1,668,000 ) Loss from investments - - (108,000 ) - (108,000 ) Income tax expense - - - (359,000 ) (359,000 ) Net (loss) income $ (725,000 ) $ 1,200,000 $ (108,000 ) $ (1,219,000 ) $ (852,000 ) Total assets $ 48,055,000 $ 47,274,000 $ 7,609,000 $ 6,389,000 $ 109,327,000 As of and for the three months Hotel Real Estate Investment ended September 30, 2023 Operations Operations Transactions Corporate Total Revenues $ 11,093,000 $ 4,417,000 $ - $ - $ 15,510,000 Segment operating expenses (9,281,000 ) (2,356,000 ) - (755,000 ) (12,392,000 ) Segment income (loss) 1,812,000 2,061,000 - (755,000 ) 3,118,000 Interest expense - mortgage (1,606,000 ) (645,000 ) - - (2,251,000 ) Depreciation and amortization expense (845,000 ) (677,000 ) - - (1,522,000 ) Loss from investments - - (981,000 ) - (981,000 ) Income tax benefit - - - 14,000 14,000 Net (loss) income $ (639,000 ) $ 739,000 $ (981,000 ) $ (741,000 ) $ (1,622,000 ) Total assets $ 48,099,000 $ 47,988,000 $ 14,366,000 $ 9,091,000 $ 119,544,000

RELATED PARTY AND OTHER FINANCI

RELATED PARTY AND OTHER FINANCING TRANSACTIONS	3 Months Ended
RELATED PARTY AND OTHER FINANCING TRANSACTIONS	Sep. 30, 2024
Related Party Transactions [Abstract]
RELATED PARTY AND OTHER FINANCING TRANSACTIONS	NOTE 11 – RELATED PARTY AND OTHER FINANCING TRANSACTIONS The following summarizes the balances of related party and other notes payable as of September 30, 2024 and June 30, 2024, respectively. SCHEDULE OF RELATED PARTY AND OTHER FINANCING TRANSACTIONS As of September 30, 2024 June 30, 2024 Note payable - Hilton $ 1,821,000 $ 1,742,000 Note payable - Aimbridge 583,000 646,000 Total other notes payable $ 2,404,000 $ 2,388,000 Note payable to Hilton (Franchisor) is a self-exhausting, interest free development incentive note which is reduced by approximately $ 316,000 through 2030 On February 1, 2017, Operating entered into an HMA with Ambridge to manage the Hotel with an effective takeover date of February 3, 2017. The term of the management agreement is for an initial period of 10 2,000,000 8 583,000 646,000 Future minimum principal amortizations for all related party financing transactions are as follows: SCHEDULE OF FUTURE MINIMUM PRINCIPAL AMORTIZATIONS For the year ending June 30, 2025 (9 months) $ 425,000 2026 567,000 2027 463,000 2028 317,000 2029 317,000 Thereafter 315,000 Long term debt $ 2,404,000 To fund the redemption of limited partnership interests and to repay the prior mortgage of $ 42,940,000 97,000,000 20,000,000 5.275 76,386,000 76,962,000 10 8,589,706.44 4 1 858,971 The mezzanine loan is secured by the Operating membership interest held by Mezzanine and is subordinated to the Mortgage Loan. The mezzanine interest only loan had an interest rate of 9.75 January 1, 2024 20,000,000 9.75 7.25 January 1, 2024 4.5 10 4 1 245,000 Effective May 11, 2017, InterGroup agreed to become an additional guarantor under the limited guaranty and an additional indemnitor under the environmental indemnity for Justice Investors limited partnership’s $ 97,000,000 20,000,000 In order to refinance the Hotel’s aforementioned debt, in May 2024, the Company entered into a financing procurement agreement with a global provider of financial advisory services to real estate owners. The Company will endeavor to refinance the aforementioned loans prior to their new maturity. Four of the Portsmouth directors serve as directors of InterGroup. The Company’s Vice President Real Estate was elected President of Portsmouth in May 2021. The Company’s director and Chairman of the Audit Committee, William J. Nance. As Chairman of the Executive Strategic Real Estate and Securities Investment Committee, the Company’s President and Chief Executive Officer (CEO), John V. Winfield, directs the investment activity of the Company in public and private markets pursuant to authority granted by the Board of Directors. Mr. Winfield also serves as Chief Executive Officer and Chairman of the Board of Portsmouth and oversees the investment activity of Portsmouth. Effective June 2016, Mr. Winfield became the Managing Director of Justice and served in that position until the dissolution of Justice in December 2021. Depending on certain market conditions and various risk factors, the Chief Executive Officer and Portsmouth may, at times, invest in the same companies in which the Company invests. Such investments align the interests of the Company with the interests of related parties because it places the personal resources of the Chief Executive Officer and the resources of Portsmouth, at risk in substantially the same manner as the Company in connection with investment decisions made on behalf of the Company.

ACCOUNTS PAYABLE AND OTHER LIAB

ACCOUNTS PAYABLE AND OTHER LIABILITIES	3 Months Ended
ACCOUNTS PAYABLE AND OTHER LIABILITIES	Sep. 30, 2024
Payables and Accruals [Abstract]
ACCOUNTS PAYABLE AND OTHER LIABILITIES	NOTE 12 – ACCOUNTS PAYABLE AND OTHER LIABILITIES The following summarizes the balances of accounts payable and other liabilities as of September 30, 2024 and June 30, 2024. SCHEDULE OF ACCOUNTS PAYABLE AND OTHER LIABILITIES As of September 30, 2024 June 30, 2024 Trade payable $ 3,001,000 $ 2,999,000 Advance deposits 511,000 557,000 Property tax payable 1,559,000 563,000 Payroll and related accruals 3,493,000 3,183,000 Mortgage interest payable 5,376,000 3,930,000 Withholding and other taxes payable 1,553,000 1,382,000 Security deposit 956,000 952,000 Franchise fees 2,022,000 1,418,000 Management fees payable 1,436,000 2,688,000 Other 373,000 350,000 Total accounts payable and other liabilities $ 20,280,000 $ 18,022,000

SUBSEQUENT EVENT

SUBSEQUENT EVENT	3 Months Ended
SUBSEQUENT EVENT	Sep. 30, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENT	NOTE 13 – SUBSEQUENT EVENT The Company evaluated subsequent events through the date that the accompanying condensed consolidated financial statements were issued, and has determined that no material subsequent events exist through the date of this filing that require adjustment to or disclosure in the condensed consolidated financial statements.

BASIS OF PRESENTATION AND SIG_2

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Recently Issued and Adopted Accounting Pronouncements	Recently Issued and Adopted Accounting Pronouncements Our Annual Report on Form 10-K for the year ended June 30, 2024, filed with the SEC on September 30, 2024, contains a discussion on the recently issued accounting pronouncements. As of September 30, 2024, there was no material impact from the recent adoption of new accounting pronouncements, nor expected material impact from recently issued accounting pronouncements yet to be adopted, on the Company’s condensed consolidated financial statements.
Going Concern	Going Concern The condensed consolidated financial statements of the Hotel have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. As discussed in Note 11 – Related Party and Other Financing Transactions, as of September 30, 2024, the outstanding balance consists of a senior mortgage loan and mezzanine loan totaling $ 100,546,000 340,000 118,974,000 64,100,000 Due to these factors and the uncertainty around the Hotel’s ability to successfully refinance the debt on favorable terms in the current lending environment gives rise to substantial doubt about the Hotel’s ability to continue as a going concern for one year after the financial statement issuance date. On January 4, 2024, the Company was made aware of a notice of default (the “Notice”) issued by its senior loan special servicer LNR Partners, LLC to Justice Operating Company, LLC which is the wholly owned subsidiary of Portsmouth. The Notice states that the lender has rights as a result of such defaults, including, but not limited to, acceleration of the loans, foreclosure on collateral and other rights and remedies under the loan documents and otherwise available under the law. On January 10, 2024, the Company filed the required Form 8-K with the Securities and Exchange Commission. During the entire life of the outstanding debt, the Company has made all mortgage payments timely as of the date of maturity and as of September 30, 2024, there were no delinquent amounts due to the senior or mezzanine lenders. On April 29, 2024, the Company entered into forbearance agreements with its senior and mezzanine lenders which establishes, among other customary terms, the new maturity date of January 1, 2025. While the Company successfully entered into the aforementioned forbearance agreements, we continue our efforts to place a longer-term refinancing solution to its current senior mortgage and mezzanine debt with potential lenders. As such, there can be no assurance that the Company will be able to obtain additional liquidity when needed or under acceptable terms, if at all. The Company is also in communications with its current lenders to explore the possibility of a term extension from its maturity date of January 1, 2025. As of September 30, 2024, the Hotel has completed its full guest-rooms renovation over the last 2 years along with public space, fitness center, corridors, and meeting space. The Hotel has begun to feel the impact of the renovation when it comes to average rate and calculated by multiplying the hotel’s average daily room rate by its occupancy percentage) (“RevPAR”) growth since its completion. The Hotel continues to improve with the relocation of the business center into a meeting room and the space being converted to a lounge area for guests in the lobby. On September 5, 2024, the Hotel received its annual Quality Assurance inspection from Hilton and received the highest score at least in the Hotel’s last decade at 94.45% which is an “Outstanding” ranking by Hilton. For the quarter ending September 30, 2024, the Hotel achieved a RevPAR index of 145% while increasing the ADR index to 90%. The Hotel’s year-to-date RevPAR index is 118%. For the quarter ending September 30, 2024, the Hotel gained RevPAR year over year by 5.7% while its Comp Set was -18.5%. The condensed consolidated financial statements do not include any adjustments to the carrying amounts of assets, liabilities, and reported expenses that may be necessary if the Hotel were unable to continue as a going concern.

LIQUIDITY (Tables)

LIQUIDITY (Tables)	3 Months Ended
LIQUIDITY (Tables)	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
SCHEDULE OF MATERIAL FINANCING OBLIGATION	The following table provides a summary as of September 30, 2024, the Company’s material financial obligations which also includes interest payments. SCHEDULE OF MATERIAL FINANCING OBLIGATION 9 Months Year Year Year Year Total 2025 2026 2027 2028 2029 Thereafter Mortgage and subordinated notes payable $ 189,594,000 $ 109,886,000 $ 1,161,000 $ 3,295,000 $ 1,768,000 $ 1,843,000 $ 71,641,000 Other notes payable 2,404,000 425,000 567,000 463,000 317,000 317,000 315,000 Interest 26,134,000 4,921,000 2,757,000 2,649,000 2,653,000 2,587,000 10,567,000 Total $ 218,132,000 $ 115,232,000 $ 4,485,000 $ 6,407,000 $ 4,738,000 $ 4,747,000 $ 82,523,000

REVENUE (Tables)

REVENUE (Tables)	3 Months Ended
REVENUE (Tables)	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
SCHEDULE OF DISAGGREGATION OF REVENUE	The following table presents our Hotel revenue disaggregated by revenue streams. SCHEDULE OF DISAGGREGATION OF REVENUE For the three months ended September 30, 2024 2023 Hotel revenues: Hotel rooms $ 10,110,000 $ 9,561,000 Food and beverage 733,000 627,000 Garage 875,000 825,000 Other operating departments 102,000 80,000 Total hotel revenue $ 11,820,000 $ 11,093,000

INVESTMENT IN HOTEL, NET (Table

INVESTMENT IN HOTEL, NET (Tables)	3 Months Ended
INVESTMENT IN HOTEL, NET (Tables)	Sep. 30, 2024
Investment In Hotel Net
SCHEDULE OF INVESTMENT IN HOTEL	Investment in Hotel consisted of the following as of: SCHEDULE OF INVESTMENT IN HOTEL Accumulated Net Book September 30, 2024 Cost Depreciation Value Land $ 2,738,000 $ - $ 2,738,000 Finance lease ROU assets 1,805,000 (1,574,000 ) 231,000 Furniture and equipment 39,419,000 (31,864,000 ) 7,555,000 Building and improvements 68,318,000 (38,601,000 ) 29,717,000 Investment in Hotel, net $ 112,280,000 $ (72,039,000 ) $ 40,241,000 Accumulated Net Book June 30, 2024 Cost Depreciation Value Land $ 2,738,000 $ - $ 2,738,000 Finance lease ROU assets 1,805,000 (1,521,000 ) 284,000 Furniture and equipment 40,310,000 (31,396,000 ) 8,914,000 Building and improvements 67,159,000 (38,194,000 ) 28,965,000 Investment in Hotel, net $ 112,012,000 $ (71,111,000 ) $ 40,901,000

INVESTMENT IN REAL ESTATE, NET

INVESTMENT IN REAL ESTATE, NET (Tables)	3 Months Ended
INVESTMENT IN REAL ESTATE, NET (Tables)	Sep. 30, 2024
Real Estate [Abstract]
SCHEDULE OF INVESTMENT IN REAL ESTATE	Investment in real estate consisted of the following: SCHEDULE OF INVESTMENT IN REAL ESTATE As of September 30, 2024 June 30, 2024 Land $ 22,998,000 $ 22,998,000 Buildings, improvements and equipment 75,932,000 75,460,000 Accumulated depreciation (53,586,000 ) (52,846,000 ) Investment in real estate, gross 45,344,000 45,612,000 Land held for development 1,930,000 1,930,000 Investment in real estate, net $ 47,274,000 $ 47,542,000

INVESTMENT IN MARKETABLE SECU_2

INVESTMENT IN MARKETABLE SECURITIES (Tables)	3 Months Ended
INVESTMENT IN MARKETABLE SECURITIES (Tables)	Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]
SCHEDULE OF TRADING SECURITIES	At September 30, 2024 and June 30, 2024, all of the Company’s marketable securities are classified as trading securities. The change in the unrealized gains and losses on these investments are included in earnings. Trading securities are summarized as follows: SCHEDULE OF TRADING SECURITIES Gross Gross Net Fair Investment Cost Unrealized Gain Unrealized Loss Unrealized Gain Value As of September 30, 2024 Corporate Equities $ 5,626,000 $ 2,337,000 $ (354,000 ) $ 1,983,000 $ 7,609,000 As of June 30, 2024 Corporate Equities $ 6,262,000 $ 1,697,000 $ (505,000 ) $ 1,192,000 $ 7,454,000
SCHEDULE OF NET GAINS (LOSSES) ON MARKETABLE SECURITIES COMPRISING OF REALIZED AND UNREALIZED GAINS (LOSSES)	Net gains (losses) on marketable securities on the statements of operations is comprised of realized and unrealized gains (losses). Below is the composition of net losses on marketable securities for the three months ended September 30, 2024 and 2023, respectively: SCHEDULE OF NET GAINS (LOSSES) ON MARKETABLE SECURITIES COMPRISING OF REALIZED AND UNREALIZED GAINS (LOSSES) For the three months ended September 30, 2024 2023 Realized loss on marketable securities, net $ (659,000 ) $ (106,000 ) Unrealized gain (loss) on marketable securities, net 788,000 (679,000 ) Net gain (loss) on marketable securities $ 129,000 $ (785,000 )

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
FAIR VALUE MEASUREMENTS (Tables)	Sep. 30, 2024
Fair Value Disclosures [Abstract]
SCHEDULE OF FAIR VALUE MEASUREMENT ON RECURRING BASIS	The assets and liabilities measured at fair value on a recurring basis are as follows: SCHEDULE OF FAIR VALUE MEASUREMENT ON RECURRING BASIS As of September 30, 2024 June 30, 2024 Assets: Total - Level 1 Total - Level 1 Investment in marketable securities: REITs and real estate companies $ 4,545,000 $ 3,358,000 Healthcare 1,669,000 179,000 Technology 453,000 21,000 Energy 280,000 303,000 Financial services 203,000 269,000 Communication services 182,000 1,994,000 Utilities 105,000 163,000 Basic materials 80,000 75,000 Consumer cyclical 50,000 - Other 26,000 - Industrial 16,000 159,000 T-Notes - 933,000 Total $ 7,609,000 $ 7,454,000

CASH, CASH EQUIVALENTS AND RE_2

CASH, CASH EQUIVALENTS AND RESTRICTED CASH (Tables)	3 Months Ended
CASH, CASH EQUIVALENTS AND RESTRICTED CASH (Tables)	Sep. 30, 2024
Cash and Cash Equivalents [Abstract]
SCHEDULE OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH	The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheets that sum to the total of the same such amounts shown in the condensed consolidated statements of cash flows: SCHEDULE OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH As of September 30, 2024 June 30, 2024 Cash and cash equivalents $ 5,592,000 $ 4,333,000 Restricted cash 4,626,000 4,361,000 Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statements of cash flows $ 10,218,000 $ 8,694,000

STOCK BASED COMPENSATION PLANS

STOCK BASED COMPENSATION PLANS (Tables)	3 Months Ended
STOCK BASED COMPENSATION PLANS (Tables)	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
SCHEDULE OF STOCK OPTION ACTIVITY	The following table summarizes the stock options activity from July 1, 2023 through September 30, 2024: SCHEDULE OF STOCK OPTION ACTIVITY Number of Weighted Average Weighted Average Aggregate Shares Exercise Price Remaining Life Intrinsic Value Oustanding at July 1, 2023 251,195 $ 15.95 1.60 $ 4,957,000 Granted 18,000 28.90 9.54 - Exercised - - - - Forfeited - - - - Exchanged - - - - Outstanding at June 30, 2024 269,195 $ 16.81 4.15 $ 1,187,000 Exercisable and vested at June 30, 2024 251,195 $ 15.95 4.45 $ 1,187,000 Oustanding at July 1, 2024 269,195 $ 16.81 4.15 $ 1,187,000 Granted - - - - Exercised - - - - Forfeited - - - - Exchanged - - - - Outstanding at September 30, 2024 269,195 $ 16.81 3.90 $ 514,000 Exercisable and vested at September 30, 2024 251,195 $ 15.95 4.18 $ 514,000

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	3 Months Ended
SEGMENT INFORMATION (Tables)	Sep. 30, 2024
Segment Reporting [Abstract]
SCHEDULE OF SEGMENT REPORTING INFORMATION	SCHEDULE OF SEGMENT REPORTING INFORMATION As of and for the three months Hotel Real Estate Investment ended September 30, 2024 Operations Operations Transactions Corporate Total Revenues $ 11,820,000 $ 5,086,000 $ - $ - $ 16,906,000 Segment operating expenses (8,792,000 ) (2,457,000 ) - (860,000 ) (12,109,000 ) Segment income (loss) 3,028,000 2,629,000 - (860,000 ) 4,797,000 Interest expense - mortgage (2,824,000 ) (690,000 ) - - (3,514,000 ) Depreciation and amortization expense (929,000 ) (739,000 ) - - (1,668,000 ) Loss from investments - - (108,000 ) - (108,000 ) Income tax expense - - - (359,000 ) (359,000 ) Net (loss) income $ (725,000 ) $ 1,200,000 $ (108,000 ) $ (1,219,000 ) $ (852,000 ) Total assets $ 48,055,000 $ 47,274,000 $ 7,609,000 $ 6,389,000 $ 109,327,000 As of and for the three months Hotel Real Estate Investment ended September 30, 2023 Operations Operations Transactions Corporate Total Revenues $ 11,093,000 $ 4,417,000 $ - $ - $ 15,510,000 Segment operating expenses (9,281,000 ) (2,356,000 ) - (755,000 ) (12,392,000 ) Segment income (loss) 1,812,000 2,061,000 - (755,000 ) 3,118,000 Interest expense - mortgage (1,606,000 ) (645,000 ) - - (2,251,000 ) Depreciation and amortization expense (845,000 ) (677,000 ) - - (1,522,000 ) Loss from investments - - (981,000 ) - (981,000 ) Income tax benefit - - - 14,000 14,000 Net (loss) income $ (639,000 ) $ 739,000 $ (981,000 ) $ (741,000 ) $ (1,622,000 ) Total assets $ 48,099,000 $ 47,988,000 $ 14,366,000 $ 9,091,000 $ 119,544,000

RELATED PARTY AND OTHER FINAN_2

RELATED PARTY AND OTHER FINANCING TRANSACTIONS (Tables)	3 Months Ended
RELATED PARTY AND OTHER FINANCING TRANSACTIONS (Tables)	Sep. 30, 2024
Related Party Transactions [Abstract]
SCHEDULE OF RELATED PARTY AND OTHER FINANCING TRANSACTIONS	The following summarizes the balances of related party and other notes payable as of September 30, 2024 and June 30, 2024, respectively. SCHEDULE OF RELATED PARTY AND OTHER FINANCING TRANSACTIONS As of September 30, 2024 June 30, 2024 Note payable - Hilton $ 1,821,000 $ 1,742,000 Note payable - Aimbridge 583,000 646,000 Total other notes payable $ 2,404,000 $ 2,388,000
SCHEDULE OF FUTURE MINIMUM PRINCIPAL AMORTIZATIONS	Future minimum principal amortizations for all related party financing transactions are as follows: SCHEDULE OF FUTURE MINIMUM PRINCIPAL AMORTIZATIONS For the year ending June 30, 2025 (9 months) $ 425,000 2026 567,000 2027 463,000 2028 317,000 2029 317,000 Thereafter 315,000 Long term debt $ 2,404,000

ACCOUNTS PAYABLE AND OTHER LI_2

ACCOUNTS PAYABLE AND OTHER LIABILITIES (Tables)	3 Months Ended
ACCOUNTS PAYABLE AND OTHER LIABILITIES (Tables)	Sep. 30, 2024
Payables and Accruals [Abstract]
SCHEDULE OF ACCOUNTS PAYABLE AND OTHER LIABILITIES	The following summarizes the balances of accounts payable and other liabilities as of September 30, 2024 and June 30, 2024. SCHEDULE OF ACCOUNTS PAYABLE AND OTHER LIABILITIES As of September 30, 2024 June 30, 2024 Trade payable $ 3,001,000 $ 2,999,000 Advance deposits 511,000 557,000 Property tax payable 1,559,000 563,000 Payroll and related accruals 3,493,000 3,183,000 Mortgage interest payable 5,376,000 3,930,000 Withholding and other taxes payable 1,553,000 1,382,000 Security deposit 956,000 952,000 Franchise fees 2,022,000 1,418,000 Management fees payable 1,436,000 2,688,000 Other 373,000 350,000 Total accounts payable and other liabilities $ 20,280,000 $ 18,022,000

BASIS OF PRESENTATION AND SIG_3

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)		1 Months Ended	3 Months Ended
	Jul. 15, 2021	Dec. 31, 2013	Sep. 30, 2024	Jun. 30, 2024	Feb. 19, 2021
Earnings before interest, tax, depreciation, and amortization			$ 15,257,301
Mortgage notes payable - Hotel			100,546,000	$ 100,783,000
Debt issuance costs			340,000
Accumulated deficit			$ 118,974,000
Partnership redemption adjustment		$ 64,100,000
Revenue par available room rate description			the Hotel achieved a RevPAR index of 145% while increasing the ADR index to 90%. The Hotel’s year-to-date RevPAR index is 118%. For the quarter ending September 30, 2024, the Hotel gained RevPAR year over year by 5.7% while its Comp Set was -18.5%.
Aimbridge [Member]
The amount agreed to waive			$ 1,030,134
Santa Fe Financial Corporation [Member]
Minority interest ownership percentage					83.70%
Portsmouth Square, Inc [Member]
Minority interest ownership percentage			75.70%		68.80%
Minority interest ownership percentage	0.70%
Limited liability interest percentage	100%
Portsmouth Square, Inc [Member] \| John V. Winfield [Member]
Minority interest ownership percentage			2.50%

SCHEDULE OF MATERIAL FINANCING

SCHEDULE OF MATERIAL FINANCING OBLIGATION (Details)	Sep. 30, 2024 USD ($)
Debt Instrument [Line Items]
Long-term Debt	$ 218,132,000
3 Months 2024	115,232,000
Year 2025	4,485,000
Year 2026	6,407,000
Year 2027	4,738,000
Year 2028	4,747,000
Thereafter	82,523,000
Mortgage and Subordinated Notes Payable [Member]
Debt Instrument [Line Items]
Long-term Debt	189,594,000
3 Months 2024	109,886,000
Year 2025	1,161,000
Year 2026	3,295,000
Year 2027	1,768,000
Year 2028	1,843,000
Thereafter	71,641,000
Other Notes Payable [Member]
Debt Instrument [Line Items]
Long-term Debt	2,404,000
3 Months 2024	425,000
Year 2025	567,000
Year 2026	463,000
Year 2027	317,000
Year 2028	317,000
Thereafter	315,000
Interest [Member]
Debt Instrument [Line Items]
Long-term Debt	26,134,000
3 Months 2024	4,921,000
Year 2025	2,757,000
Year 2026	2,649,000
Year 2027	2,653,000
Year 2028	2,587,000
Thereafter	$ 10,567,000

LIQUIDITY (Details Narrative)

LIQUIDITY (Details Narrative) - USD ($)		1 Months Ended		3 Months Ended		12 Months Ended
LIQUIDITY (Details Narrative) - USD ($)	Jul. 02, 2014	Mar. 31, 2024	Jul. 31, 2023	Sep. 30, 2024	Sep. 30, 2023	Jun. 30, 2024	Dec. 31, 2021	Dec. 16, 2020
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Net cash flow used for operations				$ 3,360,000	$ 1,901,000
Cash and cash equivalents				5,592,000		$ 4,333,000
Restricted cash				4,626,000		4,361,000
Marketable securities				6,648,000		7,266,000
Notes payable				2,404,000		2,388,000
Unsecured Debt [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Debt instrument, face amount	$ 4,250,000
Interest rate	12%
Debt instrument, term	2 years
Loan fee percentage	3%
Debt instrument, maturity date, description	The loan was extended to July 31, 2023
Multi-family and Commercial Real Estate [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Payments for capital improvements				471,000
Portsmouth Square, Inc [Member] \| Hotel [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Payments for capital improvements				269,000
Justice Investors Limited Partnership and InterGroup [Member] \| Loan Modification Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Debt instrument, face amount								$ 10,000,000
Portsmouth Square Inc and InterGroup [Member] \| Loan Modification Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Debt instrument, face amount							$ 16,000,000
Debt instrument, maturity date, description			the note maturity date was extended to July 31, 2025
Notes payable				$ 26,493,000		26,493,000	$ 11,350,000
Debt instrument, increase amount		$ 30,000,000	$ 20,000,000			$ 10,000,000
Loan extension and fee payable		0.50%				0.50%
Amortization costs						$ 0

SCHEDULE OF DISAGGREGATION OF R

SCHEDULE OF DISAGGREGATION OF REVENUE (Details) - USD ($)	3 Months Ended
SCHEDULE OF DISAGGREGATION OF REVENUE (Details) - USD ($)	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Total hotel revenue	$ 16,906,000	$ 15,510,000
Hotel Rooms [Member]
Disaggregation of Revenue [Line Items]
Total hotel revenue	10,110,000	9,561,000
Food and Beverage [Member]
Disaggregation of Revenue [Line Items]
Total hotel revenue	733,000	627,000
Garage [Member]
Disaggregation of Revenue [Line Items]
Total hotel revenue	875,000	825,000
Other Operating Departments [Member]
Disaggregation of Revenue [Line Items]
Total hotel revenue	102,000	80,000
Hotel [Member]
Disaggregation of Revenue [Line Items]
Total hotel revenue	$ 11,820,000	$ 11,093,000

REVENUE (Details Narrative)

REVENUE (Details Narrative) - USD ($)	Sep. 30, 2024	Jul. 01, 2024	Sep. 30, 2023	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Accounts payable and other accrued liabilities		$ 370,000
Contract with customer liability	$ 337,000		$ 448,000	$ 290,000

SCHEDULE OF INVESTMENT IN HOTEL

SCHEDULE OF INVESTMENT IN HOTEL (Details) - USD ($)	Sep. 30, 2024	Jun. 30, 2024
Property, Plant and Equipment [Line Items]
Cost	$ 112,280,000	$ 112,012,000
Accumulated Depreciation	(72,039,000)	(71,111,000)
Net Book Value	40,241,000	40,901,000
Land [Member]
Property, Plant and Equipment [Line Items]
Cost	2,738,000	2,738,000
Accumulated Depreciation
Net Book Value	2,738,000	2,738,000
Finance Lease ROU Assets [Member]
Property, Plant and Equipment [Line Items]
Cost	1,805,000	1,805,000
Accumulated Depreciation	(1,574,000)	(1,521,000)
Net Book Value	231,000	284,000
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Cost	39,419,000	40,310,000
Accumulated Depreciation	(31,864,000)	(31,396,000)
Net Book Value	7,555,000	8,914,000
Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Cost	68,318,000	67,159,000
Accumulated Depreciation	(38,601,000)	(38,194,000)
Net Book Value	$ 29,717,000	$ 28,965,000

INVESTMENT IN HOTEL, NET (Detai

INVESTMENT IN HOTEL, NET (Details Narrative) - USD ($)	3 Months Ended
INVESTMENT IN HOTEL, NET (Details Narrative) - USD ($)	Sep. 30, 2024	Sep. 30, 2023
Hotel [Member]
Depreciation expense	$ 929,000	$ 845,000
Furniture and Fixtures [Member] \| Minimum [Member]
Finance lease ROU assets useful life	3 years
Furniture and Fixtures [Member] \| Maximum [Member]
Finance lease ROU assets useful life	7 years
Building Improvements [Member] \| Minimum [Member]
Finance lease ROU assets useful life	15 years
Building Improvements [Member] \| Maximum [Member]
Finance lease ROU assets useful life	39 years

SCHEDULE OF INVESTMENT IN REAL

SCHEDULE OF INVESTMENT IN REAL ESTATE (Details) - USD ($)	Sep. 30, 2024	Jun. 30, 2024
Real Estate [Abstract]
Land	$ 22,998,000	$ 22,998,000
Buildings, improvements and equipment	75,932,000	75,460,000
Accumulated depreciation	(53,586,000)	(52,846,000)
Investment in real estate, gross	45,344,000	45,612,000
Land held for development	1,930,000	1,930,000
Investment in real estate, net	$ 47,274,000	$ 47,542,000

INVESTMENT IN REAL ESTATE, NE_2

INVESTMENT IN REAL ESTATE, NET (Details Narrative) - USD ($)	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Real Estate [Line Items]
Payments for real estate investments	$ 471,000	$ 608,000
Real Estate [Member]
Real Estate [Line Items]
Depreciation expense	$ 739,000	$ 676,000
Building Improvements and Equipment [Member] \| Minimum [Member]
Real Estate [Line Items]
Investment in real estate, useful life	5 years
Building Improvements and Equipment [Member] \| Maximum [Member]
Real Estate [Line Items]
Investment in real estate, useful life	40 years

SCHEDULE OF TRADING SECURITIES

SCHEDULE OF TRADING SECURITIES (Details) - Equity Securities [Member] - USD ($)	3 Months Ended	12 Months Ended
	Sep. 30, 2024	Jun. 30, 2024
Financing Receivable, Past Due [Line Items]
Cost	$ 5,626,000	$ 6,262,000
Gross Unrealized Gain	2,337,000	1,697,000
Gross Unrealized Loss	(354,000)	(505,000)
Net Unrealized Gain	1,983,000	1,192,000
Fair Value	$ 7,609,000	$ 7,454,000

SCHEDULE OF NET GAINS (LOSSES)

SCHEDULE OF NET GAINS (LOSSES) ON MARKETABLE SECURITIES COMPRISING OF REALIZED AND UNREALIZED GAINS (LOSSES) (Details) - USD ($)	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Realized loss on marketable securities, net	$ (659,000)	$ (106,000)
Unrealized gain (loss) on marketable securities, net	788,000	(679,000)
Net gain (loss) on marketable securities	$ 129,000	$ (785,000)

SCHEDULE OF FAIR VALUE MEASUREM

SCHEDULE OF FAIR VALUE MEASUREMENT ON RECURRING BASIS (Details) - USD ($)	Sep. 30, 2024	Jun. 30, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	$ 7,609,000	$ 7,454,000
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	7,609,000	7,454,000
Fair Value, Inputs, Level 1 [Member] \| REITs and Real Estate Companies [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	4,545,000	3,358,000
Fair Value, Inputs, Level 1 [Member] \| Health Care [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	1,669,000	179,000
Fair Value, Inputs, Level 1 [Member] \| Technology [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	453,000	21,000
Fair Value, Inputs, Level 1 [Member] \| Energy [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	280,000	303,000
Fair Value, Inputs, Level 1 [Member] \| Financial Services [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	203,000	269,000
Fair Value, Inputs, Level 1 [Member] \| Communication Services [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	182,000	1,994,000
Fair Value, Inputs, Level 1 [Member] \| Utilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	105,000	163,000
Fair Value, Inputs, Level 1 [Member] \| Basic Material [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	80,000	75,000
Fair Value, Inputs, Level 1 [Member] \| Consumer Cyclical [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	50,000
Fair Value, Inputs, Level 1 [Member] \| Other [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	26,000
Fair Value, Inputs, Level 1 [Member] \| Industrial [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	16,000	159,000
Fair Value, Inputs, Level 1 [Member] \| T-Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total		$ 933,000

SCHEDULE OF CASH, CASH EQUIVALE

SCHEDULE OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH (Details) - USD ($)	Sep. 30, 2024	Jun. 30, 2024
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 5,592,000	$ 4,333,000
Restricted cash	4,626,000	4,361,000
Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statements of cash flows	$ 10,218,000	$ 8,694,000

SCHEDULE OF STOCK OPTION ACTIVI

SCHEDULE OF STOCK OPTION ACTIVITY (Details) - USD ($)	3 Months Ended	12 Months Ended
SCHEDULE OF STOCK OPTION ACTIVITY (Details) - USD ($)	Sep. 30, 2024	Jun. 30, 2024	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Number of shares, outstanding, beginning balance	269,195	251,195
Weighted average exercise price, outstanding, beginning balance	$ 16.81	$ 15.95
Weighted average remaining life, outstanding, ending balance	3 years 10 months 24 days	4 years 1 month 24 days	1 year 7 months 6 days
Aggregate intrinsic value, outstanding, beginning balance	$ 1,187,000	$ 4,957,000
Number of shares, granted		18,000
Weighted average exercise price, granted		$ 28.90
Weighted average remaining life, outstanding, granted		9 years 6 months 14 days
Number of shares, exercised
Weighted average exercise price, exercised
Number of shares, forfeited
Weighted average exercise price, forfeited
Number of shares, exchanged
Weighted average exercise price, exchanged
Number of shares, outstanding, ending balance	269,195	269,195	251,195
Weighted average exercise price, outstanding, ending balance	$ 16.81	$ 16.81	$ 15.95
Aggregate intrinsic value, outstanding, ending balance	$ 514,000	$ 1,187,000	$ 4,957,000
Number of shares, exercisable, ending balance	251,195	251,195
Weighted average pxercise price, exercisable, ending balance	$ 15.95	$ 15.95
Weighted average remaining life, exercisable, ending balance	4 years 2 months 4 days	4 years 5 months 12 days
Aggregate intrinsic value, exercisable, ending balance	$ 514,000	$ 1,187,000

STOCK BASED COMPENSATION PLAN_2

STOCK BASED COMPENSATION PLANS (Details Narrative) - USD ($)			1 Months Ended	3 Months Ended		12 Months Ended
	Dec. 21, 2023	Oct. 13, 2023	Dec. 31, 2023	Sep. 30, 2024	Sep. 30, 2023	Jun. 30, 2024
Committee awarded stock option						18,000
Stock option exercise price						$ 28.90
Stock option compensation cost			$ 1,175,000	$ 45,000
Exercise price	$ 18.65
Stock option of share price	$ 0.01
Expected term	6 years
Minimum rate of expected volatility	72%
Maximum rate of expected volatility	50%
Expected dividends	0%
Risk free interest	0.90%
Equity Option [Member]
Expected term	4 years 7 months 24 days
Chief Operating Officer [Member]
Committee awarded stock option		18,000
Stock option exercise price		$ 28.90
Share-based payment award, expiration period		10 years
Share-based payment award, vesting period		3 years
Stock option, vested		6,000
Chief Operating Officer [Member] \| Common Stock [Member]
Number of share purchased		18,000
Chief Executive Officer [Member]
Number of warrants, Expired	133,195
Exercise price, expired	$ 18.65

SCHEDULE OF SEGMENT REPORTING I

SCHEDULE OF SEGMENT REPORTING INFORMATION (Details) - USD ($)	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Jun. 30, 2024
Segment Reporting Information [Line Items]
Revenues	$ 16,906,000	$ 15,510,000
Segment operating expenses	(13,777,000)	(13,914,000)
Segment income (loss)	3,129,000	1,596,000
Interest expense - mortgage	(3,514,000)	(2,251,000)
Depreciation and amortization expense	(1,668,000)	(1,522,000)
Income tax benefit	359,000	(14,000)
Net (loss) income	(852,000)	(1,622,000)
Total assets	109,327,000		$ 107,811,000
Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	16,906,000	15,510,000
Segment operating expenses	(12,109,000)	(12,392,000)
Segment income (loss)	4,797,000	3,118,000
Interest expense - mortgage	(3,514,000)	(2,251,000)
Depreciation and amortization expense	(1,668,000)	(1,522,000)
Loss from investments	(108,000)	(981,000)
Income tax benefit	(359,000)	14,000
Net (loss) income	(852,000)	(1,622,000)
Total assets	109,327,000	119,544,000
Hotel Operations [Member]
Segment Reporting Information [Line Items]
Revenues	11,820,000	11,093,000
Segment operating expenses	(8,792,000)	(9,281,000)
Segment income (loss)	3,028,000	1,812,000
Interest expense - mortgage	(2,824,000)	(1,606,000)
Depreciation and amortization expense	(929,000)	(845,000)
Loss from investments
Income tax benefit
Net (loss) income	(725,000)	(639,000)
Total assets	48,055,000	48,099,000
Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Revenues	5,086,000	4,417,000
Segment operating expenses	(2,457,000)	(2,356,000)
Segment income (loss)	2,629,000	2,061,000
Interest expense - mortgage	(690,000)	(645,000)
Depreciation and amortization expense	(739,000)	(677,000)
Loss from investments
Income tax benefit
Net (loss) income	1,200,000	739,000
Total assets	47,274,000	47,988,000
Investment Transactions [Member]
Segment Reporting Information [Line Items]
Revenues
Segment operating expenses
Segment income (loss)
Interest expense - mortgage
Depreciation and amortization expense
Loss from investments	(108,000)	(981,000)
Income tax benefit
Net (loss) income	(108,000)	(981,000)
Total assets	7,609,000	14,366,000
Corporate Segment [Member]
Segment Reporting Information [Line Items]
Revenues
Segment operating expenses	(860,000)	(755,000)
Segment income (loss)	(860,000)	(755,000)
Interest expense - mortgage
Depreciation and amortization expense
Loss from investments
Income tax benefit	(359,000)	14,000
Net (loss) income	(1,219,000)	(741,000)
Total assets	$ 6,389,000	$ 9,091,000

SEGMENT INFORMATION (Details Na

SEGMENT INFORMATION (Details Narrative)	3 Months Ended
SEGMENT INFORMATION (Details Narrative)	Sep. 30, 2024 Segments
Segment Reporting [Abstract]
Number of reportable segments	3
Number of operating segments	3

SCHEDULE OF RELATED PARTY AND O

SCHEDULE OF RELATED PARTY AND OTHER FINANCING TRANSACTIONS (Details) - USD ($)	Sep. 30, 2024	Jun. 30, 2024
Related Party Transaction [Line Items]
Total other notes payable	$ 2,404,000	$ 2,388,000
Note Payable - Hilton [Member]
Related Party Transaction [Line Items]
Total other notes payable	1,821,000	1,742,000
Note Payable - Aimbridge [Member]
Related Party Transaction [Line Items]
Total other notes payable	$ 583,000	$ 646,000

SCHEDULE OF FUTURE MINIMUM PRIN

SCHEDULE OF FUTURE MINIMUM PRINCIPAL AMORTIZATIONS (Details)	Sep. 30, 2024 USD ($)
Debt Instrument [Line Items]
2025 (9 months)	$ 115,232,000
2026	4,485,000
2027	6,407,000
2028	4,738,000
2029	4,747,000
Thereafter	82,523,000
Long term debt	218,132,000
Other Notes Payable [Member]
Debt Instrument [Line Items]
2025 (9 months)	425,000
2026	567,000
2027	463,000
2028	317,000
2029	317,000
Thereafter	315,000
Long term debt	$ 2,404,000

RELATED PARTY AND OTHER FINAN_3

RELATED PARTY AND OTHER FINANCING TRANSACTIONS (Details Narrative) - USD ($)				3 Months Ended
	Apr. 29, 2024	Jul. 31, 2019	Feb. 03, 2017	Sep. 30, 2024	Jun. 30, 2024	May 11, 2017	Dec. 31, 2013
Related Party Transaction [Line Items]
Outstanding loan principal amount				$ 76,386,000	$ 76,962,000
Mezzanine Loan [Member]
Related Party Transaction [Line Items]
Bears interest percentage				9.75%
Bears interest percentage				January 1, 2024
New Mezzanine Loan [Member]
Related Party Transaction [Line Items]
Bears interest percentage		7.25%
Bears interest percentage		January 1, 2024
Mortgage and mezzanine amount		$ 20,000,000
Lender [Member]
Related Party Transaction [Line Items]
Percentage of principal paydown	10%
Principal paydown	$ 8,589,706.44
Default interest rate	4%
Percentage of forbearance fee	1%
Forbearance fee	$ 858,971
Mezz Lender [Member]
Related Party Transaction [Line Items]
Loan advanced payment	$ 4,500,000
Percentage of principal paydown	10%
Default interest rate	4%
Percentage of forbearance fee	1%
Forbearance fee	$ 245,000
Hotel Management Agreement [Member]
Related Party Transaction [Line Items]
Debt instrument, term			10 years
Key money incentive fee			$ 2,000,000
Debt amortization period			8 years
Unamortized debt issuance expense				$ 583,000	$ 646,000
Interest Free Development Incentive Note [Member] \| Hilton [Member]
Related Party Transaction [Line Items]
Notes reduction				$ 316,000
Debt instrument payment terms				through 2030
Prior Mortgage [Member]
Related Party Transaction [Line Items]
Accounts payable to related party							$ 42,940,000
Mortgage Loan [Member]
Related Party Transaction [Line Items]
Loan advanced payment						$ 97,000,000	$ 97,000,000
Debt instrument, interest rate, stated percentage							5.275%
Mezzanine Loan [Member]
Related Party Transaction [Line Items]
Loan advanced payment						$ 20,000,000	$ 20,000,000
Debt instrument, interest rate, stated percentage		9.75%

SCHEDULE OF ACCOUNTS PAYABLE AN

SCHEDULE OF ACCOUNTS PAYABLE AND OTHER LIABILITIES (Details) - USD ($)	Sep. 30, 2024	Jun. 30, 2024
Payables and Accruals [Abstract]
Trade payable	$ 3,001,000	$ 2,999,000
Advance deposits	511,000	557,000
Property tax payable	1,559,000	563,000
Payroll and related accruals	3,493,000	3,183,000
Mortgage interest payable	5,376,000	3,930,000
Withholding and other taxes payable	1,553,000	1,382,000
Security deposit	956,000	952,000
Franchise fees	2,022,000	1,418,000
Management fees payable	1,436,000	2,688,000
Other	373,000	350,000
Total accounts payable and other liabilities	$ 20,280,000	$ 18,022,000