The InterGroup Corporation (INTG) 10-Q 15 Nov 21 2022 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Sep. 30, 2021	Nov. 12, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2021
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2022
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		2,199,192

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Nov. 30, 2021	Jun. 30, 2021
ASSETS
Investment in Hotel, net	$ 37,339,000	$ 37,651,000
Investment in real estate, net	47,338,000	47,709,000
Investment in marketable securities	23,434,000	35,792,000
Cash and cash equivalents	9,928,000	6,808,000
Restricted cash	9,371,000	8,584,000
Other assets, net	3,175,000	1,662,000
Deferred tax asset	3,255,000	2,140,000
Total assets	133,840,000	140,346,000
Liabilities:
Accounts payable and other liabilities - Justice	8,432,000	7,408,000
Accounts payable and other liabilities	3,868,000	3,357,000
Due to securities broker	1,170,000	7,917,000
Obligations for securities sold	6,070,000	6,419,000
Related party and other notes payable	3,946,000	4,088,000
Other notes payable - SBA Loans	2,000,000	2,000,000
Mortgage notes payable - Hotel, net	109,805,000	110,134,000
Mortgage notes payable - real estate, net	73,115,000	70,259,000
Total liabilities	208,406,000	211,582,000
Shareholders’ deficit:
Preferred stock, $.01 par value, 100,000 shares authorized; none issued
Common stock, $.01 par value, 4,000,000 shares authorized; 3,404,982 and 3,404,982 issued; 2,221,346 and 2,222,919	33,000	33,000
Additional paid-in capital	2,149,000	2,172,000
Accumulated deficit	(39,554,000)	(36,394,000)
Treasury stock, at cost, 1,183,636 and 1,182,063 shares, respectively	(17,444,000)	(17,370,000)
Total InterGroup shareholders’ deficit	(54,816,000)	(51,559,000)
Noncontrolling interest	(19,750,000)	(19,677,000)
Total shareholders’ deficit	(74,566,000)	(71,236,000)
Total liabilities and shareholders’ deficit	$ 133,840,000	$ 140,346,000

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2021	Jun. 30, 2021
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
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	4,000,000	4,000,000
Common stock, shares issued	3,404,982	3,404,982
Common stock, shares outstanding	2,221,346	2,222,919
Treasury stock, shares	1,183,636	1,182,063

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Revenues:
Total revenues	$ 10,921,000	$ 6,909,000
Costs and operating expenses:
Hotel operating expenses	(6,333,000)	(5,033,000)
Real estate operating expenses	(2,074,000)	(1,888,000)
Depreciation and amortization expenses	(1,148,000)	(1,191,000)
General and administrative expenses	(810,000)	(1,366,000)
Total costs and operating expenses	(10,365,000)	(9,478,000)
Income (loss) from operations	556,000	(2,569,000)
Other (expense) income:
Interest expense - mortgages	(2,242,000)	(2,315,000)
Gain on sale of real estate		12,043,000
Net loss on marketable securities	(1,818,000)	(253,000)
Net (loss) gain on marketable securities - Comstock	(350,000)	95,000
Impairment loss on other investments		(62,000)
Dividend and interest income	187,000	124,000
Trading and margin interest expense	(354,000)	(269,000)
Total other (expense) income, net	(4,577,000)	9,363,000
(Loss) income before income taxes	(4,021,000)	6,794,000
Income tax benefit (expense)	1,115,000	(1,975,000)
Net (loss) income	(2,906,000)	4,819,000
Less:  Net loss (income) attributable to the noncontrolling interest	745,000	(269,000)
Net (loss) income attributable to InterGroup Corporation	$ (2,161,000)	$ 4,550,000
Basic	$ (1.31)	$ 2.11
Diluted	(1.31)	1.84
Net (loss) income per share attributable to InterGroup Corporation
Basic	(0.97)	1.99
Diluted	$ (0.97)	$ 1.74
Weighted average number of basic common shares outstanding	2,222,904	2,287,555
Weighted average number of diluted common shares outstanding	2,560,499	2,621,550
Hotel [Member]
Revenues:
Total revenues	$ 6,805,000	$ 3,425,000
Real Estate [Member]
Revenues:
Total revenues	$ 4,116,000	$ 3,484,000

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 [Member]	Intergroup Shareholder Deficit [Member]	Noncontrolling Interest [Member]	Total
July 1, 2020 at Jun. 30, 2020	$ 33,000	$ 6,626,000	$ (43,541,000)	$ (14,995,000)	$ (51,877,000)	$ (22,370,000)	$ (74,247,000)
Balance, shares at Jun. 30, 2020	3,404,982
Net income (loss)			4,550,000		4,550,000	269,000	4,819,000
Stock options expense		5,000			5,000		5,000
Purchase of treasury stock				(140,000)	(140,000)		(140,000)
September 30, 2020 at Sep. 30, 2020	$ 33,000	6,631,000	(38,991,000)	(15,135,000)	(47,462,000)	(22,101,000)	(69,563,000)
Balance, shares at Sep. 30, 2020	3,404,982
July 1, 2020 at Jun. 30, 2021	$ 33,000	2,172,000	(36,394,000)	(17,370,000)	(51,559,000)	(19,677,000)	(71,236,000)
Balance, shares at Jun. 30, 2021	3,404,982
Net income (loss)			(2,161,000)		(2,161,000)	(745,000)	(2,906,000)
Stock options expense		2,000			2,000		2,000
Investment in Portsmouth		(25,000)			(25,000)	17,000	(8,000)
Purchase of remaining interest in Justice			(999,000)		(999,000)	999,000
Investment in Justice						(344,000)	(344,000)
Purchase of treasury stock				(74,000)	(74,000)		(74,000)
September 30, 2020 at Sep. 30, 2021	$ 33,000	$ 2,149,000	$ (39,554,000)	$ (17,444,000)	$ (54,816,000)	$ (19,750,000)	$ (74,566,000)
Balance, shares at Sep. 30, 2021	3,404,982

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities:
Net (loss) income	$ (2,906,000)	$ 4,819,000
Adjustments to reconcile net (loss) income to net cash provided by (used in)
Depreciation and amortization	1,112,000	1,146,000
Gain on sale of real estate		(12,043,000)
Deferred taxes	(1,115,000)	1,975,000
Net unrealized loss (gain) on marketable securities	4,421,000	(104,000)
Impairment loss on other investments		62,000
Stock compensation expense	2,000	5,000
Changes in operating assets and liabilities:
Investment in marketable securities	7,937,000	(2,384,000)
Other assets	(1,513,000)	130,000
Accounts payable and other liabilities - Justice	1,144,000	(683,000)
Accounts payable and other liabilities	511,000	337,000
Due to securities broker	(6,747,000)	(1,282,000)
Obligations for securities sold	(349,000)	13,000
Net cash provided by (used in) operating activities	2,497,000	(8,009,000)
Cash flows from investing activities:
Payments for hotel investments	(240,000)	(105,000)
Payments for real estate investments	(223,000)	(294,000)
Payments for investment in Portsmouth	(8,000)
Payments for investment in Justice	(344,000)
Proceeds from sale of real estate		15,178,000
Proceeds from other investments		118,000
Net cash (used in) provided by investing activities	(815,000)	14,897,000
Cash flows from financing activities:
Net payments of mortgage and other notes payable	(823,000)	(3,863,000)
Proceeds from refinance of mortgage notes payable	3,161,000
Issuance costs of refinancing mortgage and other notes payable	(39,000)	(34,000)
Purchase of treasury stock	(74,000)	(140,000)
Net cash provided by (used in) financing activities	2,225,000	(4,037,000)
Net increase in cash, cash equivalents and restricted cash	3,907,000	2,851,000
Cash, cash equivalents and restricted cash at the beginning of the period	15,392,000	28,286,000
Cash, cash equivalents and restricted cash at the end of the period	19,299,000	31,137,000
Supplemental information:
Interest paid	2,092,000	2,345,000
Taxes paid	73,000	153,000
Non-cash transaction:
Additions to Hotel equipment through capital lease		$ 30,000

BASIS OF PRESENTATION AND SIGNI

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Sep. 30, 2021
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”), without audit, according to the rules and regulations of the Securities and Exchange Commission. 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, 2021. The June 30, 2021 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, 2021. The results of operations for the three months ended September 30, 2021 are not necessarily indicative of results to be expected for the full fiscal year ending June 30, 2022. Basic and diluted income per share is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding. The computation of diluted income per share is similar to the computation of basic earnings per share except that the weighted-average number of common shares is increased to include the number of additional common shares that would have been outstanding if potential dilutive common shares had been issued. The Company’s only potentially dilutive common shares are stock options. Effective February 19, 2021, the Company’s 83.7 68.8 5,013,000 422,998 3.7 221,000 18,641 74.9 2.5 Portsmouth’s primary business is conducted through its general and limited partnership interest in Justice Investors Limited Partnership, a California limited partnership (“Justice” or the “Partnership”). As of September 30, 2021, Portsmouth completed the purchase of 100 Justice, through its subsidiaries Justice Operating Company, LLC (“Operating”) and Justice Mezzanine Company, LLC (“Mezzanine”) owns and operates 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. Mezzanine is a wholly-owned subsidiary of the Partnership; Operating is a wholly-owned subsidiary 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 operated by the partnership as a full-service Hilton brand hotel pursuant to a Franchise License Agreement with HLT Franchise Holding LLC (Hilton) through January 31, 2030. Justice entered into a Hotel management agreement (“HMA”) with Interstate Management Company, LLC (“Interstate”) to manage the Hotel, along with its five-level parking garage, with an effective takeover date of February 3, 2017. The term of the management agreement is for an initial period of ten years commencing on the takeover date 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 Interstate shall be one and seven-tenths percent (1.70%) of total Hotel revenue. In addition to the operations of the Hotel, the Company also generates income from the ownership, management and, when appropriate, sale of real estate. Properties include sixteen apartment complexes, one commercial real estate property and three single-family houses. The properties are located throughout the United States, but are concentrated in Dallas, Texas and Southern California. The Company also has an investment in unimproved real property. As of September 30, 2021, all the Company’s residential and commercial rental properties are managed in-house. Due to Securities Broker Various securities brokers have advanced funds to the Company for the purchase of marketable securities under standard margin agreements. These advanced funds are recorded as a liability. Obligations for Securities Sold Obligation for securities sold represents the fair market value of shares sold with the promise to deliver that security at some future date and the fair market value of shares underlying the written call options with the obligation to deliver that security when and if the option is exercised. The obligation may be satisfied with current holdings of the same security or by subsequent purchases of that security. Unrealized gains and losses from changes in the obligation are included in the condensed consolidated statements of operations. Income Tax The Company consolidates Justice (“Hotel”) for financial reporting purposes and was not taxed on its non-controlling interest in the Hotel. Effective July 15, 2021, the Company become the owner of 100% of Justice and will include all of the Hotel’s income and expense accounts into its income taxes calculations. The income tax benefit (expense) during the three months ended September 30, 2021 and 2020 represent the income tax effect on the Company’s pretax (loss) income which includes its share in the net loss of the Hotel accordingly. Recently Issued and Adopted Accounting Pronouncements None.

LIQUIDITY

LIQUIDITY	3 Months Ended
	Sep. 30, 2021
Liquidity
LIQUIDITY	NOTE 2 - LIQUIDITY Historically, our cash flows have been primarily generated from our Hotel and real estate operations. However, the responses by federal, state, and local civil authorities to the COVID-19 pandemic has had a material detrimental impact on our liquidity. For the three months ended September 30, 2021, our net cash flow provided by operations was $ 2,497,000 8,009,000 The Company had cash and cash equivalents of $ 9,928,000 6,808,000 16,194,000 21,456,000 On December 16, 2020, Justice and InterGroup entered into a loan modification agreement which increased Justice’s borrowing from InterGroup as needed up to $ 10,000,000 1,500,000 8,150,000 16,000,000 In order to increase our liquidity position and to take advantage of the favorable interest rate environment, we refinanced our 151-unit apartment complex in Parsippany, New Jersey on April 30, 2020, generating net proceeds of $ 6,814,000 1,144,000 6,762,000 3,161,000 5,000,000 5,000,000 On April 9, 2020, Justice entered into a loan agreement (“SBA Loan”) with CIBC Bank USA under the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) administered by the U.S. Small Business Administration (the “SBA”). Justice received proceeds of $ 4,719,000 1.00 On February 3, 2021, Justice entered into a second loan agreement (“Second SBA Loan”) with CIBC Bank USA administered by the SBA. Justice received proceeds of $ 2,000,000 February 3, 2026 1.00 All payments of principal and interest are deferred until either: (a) if the SBA approves the forgiveness amount, the date the forgiveness amount is remitted by the SBA to CIBC; or (b) if Justice does not apply for forgiveness within 10 months after the last day of the covered period specified in the loan agreement or if the forgiveness amount is not approved, the date that is 10 months after the last day of the covered period. The loan may be forgiven if the funds are used for payroll and other qualified expenses. All unforgiven portion of the principal and accrued interest will be due at maturity. Our 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 of the Hotel. 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. After considering our approach to liquidity and accessing our available sources of cash, we believe that our cash position, after giving effect to the transactions discussed above, will be adequate to meet anticipated requirements for operating and other expenditures, including corporate expenses, payroll and related benefits, taxes and compliance costs and other commitments, for at least twelve months from the date of issuance of these financial statements, even if current levels of low occupancy were to persist. The objectives of our cash management policy are to maintain existing leverage levels and the availability of liquidity, while minimizing operational costs. We believe that our cash on hand, along with other potential aforementioned sources of liquidity that management may be able to obtain, will be sufficient to fund our working capital needs, as well as our capital lease and debt obligations for at least the next twelve months and beyond. However, there can be no guarantee that management will be successful with its plan. The following table provides a summary as of September 30, 2021, the Company’s material financial obligations which also includes interest payments. SCHEDULE OF MATERIAL FINANCIAL OBLIGATIONS 9 Months Year Year Year Year Total 2022 2023 2024 2025 2026 Thereafter Mortgage and subordinated notes payable $ 184,089,000 $ 2,474,000 $ 28,535,000 $ 108,474,000 $ 3,866,000 $ 1,066,000 $ 39,674,000 SBA loans and other notes payable 2,544,000 361,000 183,000 - - 2,000,000 - Related party notes payable 3,947,000 425,000 567,000 567,000 567,000 567,000 1,254,000 Interest 29,513,000 6,660,000 8,120,000 4,897,000 1,380,000 1,265,000 7,191,000 Total $ 220,093,000 $ 9,920,000 $ 37,405,000 $ 113,938,000 $ 5,813,000 $ 4,898,000 $ 48,119,000

REVENUE

REVENUE	3 Months Ended
	Sep. 30, 2021
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 following table present our Hotel revenue disaggregated by revenue streams. SCHEDULE OF DISAGGREGATION OF REVENUE For the three months ended September 30, 2021 2020 Hotel revenues: Hotel rooms $ 5,562,000 $ 2,890,000 Food and beverage 266,000 37,000 Garage 907,000 470,000 Other operating departments 70,000 28,000 Total hotel revenue $ 6,805,000 $ 3,425,000 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 ● Noncancelable 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. Contract assets and liabilities We do not have any material contract assets as of September 30, 2021 and June 30, 2021 other than trade and other receivables, net on our condensed 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. We record 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 on our condensed consolidated balance sheets. Contract liabilities increased to $ 399,000 161,000 238,000 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 and lease agreements do not extend beyond one year.

INVESTMENT IN HOTEL, NET

INVESTMENT IN HOTEL, NET	3 Months Ended
	Sep. 30, 2021
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, 2021 Cost Depreciation Value Land $ 2,738,000 $ - $ 2,738,000 Finance lease ROU assets 1,805,000 (685,000 ) 1,120,000 Furniture and equipment 31,254,000 (28,087,000 ) 3,167,000 Building and improvements 64,587,000 (34,273,000 ) 30,314,000 Investment in Hotel, net $ 100,384,000 $ (63,045,000 ) $ 37,339,000 Accumulated Net Book June 30, 2021 Cost Depreciation Value Land $ 2,738,000 $ - $ 2,738,000 Finance lease ROU assets 1,805,000 (606,000 ) 1,199,000 Furniture and equipment 31,014,000 (27,957,000 ) 3,057,000 Building and improvements 64,585,000 (33,928,000 ) 30,657,000 Investment in Hotel, net $ 100,142,000 $ (62,491,000 ) $ 37,651,000

INVESTMENT IN REAL ESTATE, NET

INVESTMENT IN REAL ESTATE, NET	3 Months Ended
	Sep. 30, 2021
Real Estate [Abstract]
INVESTMENT IN REAL ESTATE, NET	NOTE 5 – INVESTMENT IN REAL ESTATE, NET The Company’s investment in real estate includes sixteen apartment complexes, one commercial real estate property and three single-family houses. The properties are located throughout the United States, but are concentrated in Dallas, Texas and Southern California. The Company also has an investment in unimproved land located in Maui, Hawaii. Investment in real estate consisted of the following: SCHEDULE OF INVESTMENT IN REAL ESTATE As of September 30, 2021 June 30, 2021 Land $ 22,998,000 $ 22,998,000 Buildings, improvements and equipment 68,396,000 68,173,000 Accumulated depreciation (45,524,000 ) (44,930,000 ) 45,870,000 46,241,000 Land held for development 1,468,000 1,468,000 Investment in real estate, net $ 47,338,000 $ 47,709,000

INVESTMENT IN MARKETABLE SECURI

INVESTMENT IN MARKETABLE SECURITIES	3 Months Ended
	Sep. 30, 2021
Investment In Marketable Securities
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 transfer to its shareholders through income and/or capital gain. At September 30, 2021 and June 30, 2021, all of the Company’s marketable securities are classified as trading securities. The change in the unrealized gains and losses on these investments, along with the changes in amounts due to broker are included in earnings. Trading securities are summarized as follows: SCHEDULE OF TRADING SECURITIES Gross Gross Net Investment Cost Unrealized Gain Unrealized Loss Unrealized Gain (Loss) Fair As of September 30, 2021 Corporate Equities $ 22,589,000 # $ 4,090,000 $ (3,245,000 ) $ 845,000 $ 23,434,000 As of June 30, 2021 Corporate Equities $ 29,816,000 $ 8,634,000 $ (2,658,000 ) $ 5,976,000 $ 35,792,000 As of September 30, 2021 and June 30, 2021, approximately 4 2,131,000 2,176,000 2,009,000 1,933,000 Net gains (losses) on marketable securities on the statement 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, 2021 and 2020, respectively: SCHEDULE OF NET LOSS ON MARKETABLE SECURITIES COMPRISING OF REALIZED AND UNREALIZED GAINS (LOSSES) For the three months ended September 30, 2021 2020 Realized gain (loss) on marketable securities, net $ 2,393,000 $ (262,000 ) Realized loss on marketable securities related to Comstock (140,000 ) - Unrealized (loss) gain on marketable securities, net (4,211,000 ) 9,000 Unrealized (loss) gain on marketable securities related to Comstock (210,000 ) 95,000 Net loss on marketable securities $ (2,168,000 ) $ (158,000 )

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Sep. 30, 2021
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 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, 2021 June 30, 2021 Assets: Total - Level 1 Total - Level 1 Investment in marketable securities: REITs and real estate companies $ 7,832,000 $ 11,624,000 Communication services 3,957,000 4,872,000 Energy 3,066,000 6,374,000 Financial services 2,602,000 3,873,000 Technology 1,668,000 442,000 Industrials 1,342,000 3,746,000 Basic material 1,256,000 1,797,000 Consumer cyclical 953,000 1,702,000 Healthcare 464,000 981,000 Other 294,000 381,000 Total 23,434,000 35,792,000 Liabilities: Due to securities broker: (1,170,000 ) (7,917,000 ) Obligations for securities sold: (6,070,000 ) (6,419,000 ) $ 16,194,000 $ 21,456,000 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
	Sep. 30, 2021
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 statement of cash flows. SCHEDULE OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH As of September 30, 2021 June 30, 2021 Cash and cash equivalents $ 9,928,000 $ 6,808,000 Restricted cash 9,371,000 8,584,000 Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statement of cash flows $ 19,299,000 $ 15,392,000 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
	Sep. 30, 2021
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 16 – Stock Based Compensation Plans in the Company’s Form 10-K for the year ended June 30, 2021 for more detailed information on the Company’s stock-based compensation plans. During the three months ended September 30, 2021 and 2020, the Company recorded stock option compensation cost of $ 2,000 5,000 2,000 0.42 Option-pricing models require the input of various subjective assumptions, including the option’s expected life 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. The following table summarizes the stock options activity from July 1, 2020 through September 30, 2021: SCHEDULE OF STOCK OPTION ACTIVITY Number of Weighted Average Weighted Average Aggregate Shares Exercise Price Remaining Life Intrinsic Value Oustanding at July 1, 2020 341,195 $ 16.95 3.83 $ 3,271,000 Granted - - Exercised - - Forfeited - - Exchanged - - Outstanding at September 30, 2020 341,195 $ 16.95 3.58 $ 4,448,000 Exercisable at September 30, 2020 333,995 $ 16.73 3.51 $ 4,428,000 Vested and Expected to vest at September 30, 2020 341,195 $ 16.95 3.58 $ 4,448,000 Oustanding at July 1, 2021 341,195 $ 16.95 3.58 $ 4,448,000 Granted - - Exercised - - Forfeited - - Exchanged - - Outstanding at September 30, 2021 341,195 $ 16.95 2.58 $ 9,259,000 Exercisable at September 30, 2021 337,595 $ 16.84 2.55 $ 9,198,000 Vested and Expected to vest at September 30, 2021 341,195 $ 16.95 2.58 $ 9,259,000

SEGMENT INFORMATION

SEGMENT INFORMATION	3 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
SEGMENT INFORMATION	NOTE 10 – SEGMENT INFORMATION The Company operates in three reportable segments, the operation of the hotel (“Hotel Operations”), the operation of 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 information. Information below represents reported segments for the three months ended September 30, 2021 and 2020. Operating income (loss) from hotel operations consists of the operation of the hotel and the garage. Operating income from real estate operations consists of the operation of rental properties. Operating gains (losses) from investment transactions consists of net investment gains (losses), impairment loss on other investments, net unrealized gain (loss) on other investments, dividend and interest income and trading and margin interest expense. The other segment consists of corporate general and administrative expenses and the income tax (expense) benefit for the entire Company. SCHEDULE OF SEGMENT REPORTING INFORMATION As of and for the three months Hotel Real Estate Investment ended September 30, 2021 Operations Operations Transactions Corporate Total Revenues $ 6,805,000 $ 4,116,000 $ - $ - $ 10,921,000 Segment operating expenses (6,333,000 ) (2,074,000 ) - (810,000 ) (9,217,000 ) Segment income (loss) 472,000 2,042,000 - (810,000 ) 1,704,000 Interest expense - mortgage (1,661,000 ) (581,000 ) - - (2,242,000 ) Depreciation and amortization expense (554,000 ) (594,000 ) - - (1,148,000 ) Loss from investments - - (2,335,000 ) - (2,335,000 ) Income tax benefit - - - 1,115,000 1,115,000 Net income (loss) $ (1,743,000 ) $ 867,000 $ (2,335,000 ) $ 305,000 $ (2,906,000 ) Total assets $ 46,818,000 $ 47,338,000 $ 23,475,000 $ 16,209,000 $ 133,840,000 For the three months Hotel Real Estate Investment ended September 30, 2020 Operations Operations Transactions Corporate Total Revenues $ 3,425,000 $ 3,484,000 $ - $ - $ 6,909,000 Segment operating expenses (5,033,000 ) (1,887,000 ) - (1,366,000 ) (8,286,000 ) Segment income (loss) (1,608,000 ) 1,597,000 - (1,366,000 ) (1,377,000 ) Interest expense - mortgage (1,700,000 ) (615,000 ) - - (2,315,000 ) Depreciation and amortization expense (579,000 ) (612,000 ) - - (1,191,000 ) Gain from sale of real estate - 12,043,000 - - 12,043,000 Loss from investments - - (365,000 ) - (365,000 ) Income tax expense - - - (1,975,000 ) (1,975,000 ) Net income (loss) $ (3,887,000 ) $ 12,413,000 $ (365,000 ) $ (3,341,000 ) $ 4,820,000

RELATED PARTY AND OTHER FINANCI

RELATED PARTY AND OTHER FINANCING TRANSACTIONS	3 Months Ended
	Sep. 30, 2021
Related Party And Other Financing Transactions
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, 2021 and June 30, 2021, respectively. SCHEDULE OF RELATED PARTY AND OTHER NOTES PAYABLE As of September 30, 2021 June 30, 2021 Note payable - Hilton $ 2,613,000 $ 2,692,000 Note payable - Interstate 1,333,000 1,396,000 SBA Loans 2,000,000 2,000,000 Total related party and other notes payable $ 5,946,000 $ 6,088,000 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, Justice entered into an HMA with Interstate 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 On February 3, 2021, Justice entered into a second loan agreement (“Second SBA Loan”) with CIBC Bank USA administered by the SBA. Justice received proceeds of $2,000,000 from the Second SBA Loan. As of June 30, 2021, Justice had used all proceeds from the Second SBA Loan primarily for payroll costs. The Second SBA Loan is scheduled to mature on February 3, 2026 1.00 As of September 30, 2021, the Company had finance lease obligations outstanding of $ 544,000 through 2023 4.62 6.25 SCHEDULE OF MINIMUM FUTURE LEASE PAYMENTS For the year ending June 30, 2022 $ 378,000 2023 188,000 Total minimum lease payments 566,000 Less interest on finance lease (22,000 ) Present value of future minimum lease payments $ 544,000 Future minimum principal payments and amortizations for all related party and other financing transactions are as follows: SCHEDULE OF FUTURE MINIMUM PRINCIPAL PAYMENTS For the year ending June 30, 2022 $ 786,000 2023 750,000 2024 567,000 2025 567,000 2026 2,567,000 Thereafter 1,254,000 Long-term Debt $ 6,491,000 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 Beginning in February 2017, the loan began to amortize over a thirty-year period through its maturity date of January 2024. 90,355,000 90,745,000 The mezzanine interest only loan had an interest rate of 9.75 20,000,000 9.75 7.25 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 On July 2, 2014, the Partnership obtained from InterGroup an unsecured loan in the principal amount of $ 4,250,000 12 with a term of 2 years 3 The loan was extended to July 31, 2022 10,000,000 8,150,000 6,650,000 In July 2018, InterGroup obtained a revolving $ 5,000,000 2,969,000 The RLOC carries a variable interest rate of 30-day LIBOR plus 3%. 2,969,000 15,650,000 12,163,000 2,985,000 662,000 On November 23, 2020, Santa Fe sold its 2-unit apartment complex in West Los Angeles, California to InterGroup for $ 1,530,000 1,196,000 785,000 334,000 901,000 As disclosed in its Definitive Information Statement on Schedule 14C, filed with the SEC on January 25, 2021, Santa Fe received shareholder approval to distribute its assets, as described and subsequently dissolve, all as set forth in the Information Statement. As InterGroup formerly owned 83.7% of the outstanding common stock of Santa Fe, the Company received cash of $ 5,013,000 422,998 3.7 221,000 18,641 Four of the Portsmouth directors serve as directors of InterGroup. 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. 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 - JUSTICE	3 Months Ended
	Sep. 30, 2021
Accounts Payable And Other Liabilities - Justice
ACCOUNTS PAYABLE AND OTHER LIABILITIES - JUSTICE	NOTE 12 – ACCOUNTS PAYABLE AND OTHER LIABILITIES - JUSTICE The following summarizes the balances of accounts payable and other liabilities – Justice as of September 30, 2021 and June 30, 2021. SCHEDULE OF ACCOUNTS PAYABLE AND OTHER LIABILITIES - JUSTICE As of September 30, 2021 June 30, 2021 Trade payable $ 2,525,000 $ 2,113,000 Advance deposits 399,000 161,000 Property tax payable 509,000 - Payroll and related accruals 2,549,000 2,345,000 Mortgage interest payable 518,000 582,000 Withholding and other taxes payable 649,000 885,000 Security deposit 52,000 52,000 Other payables 687,000 606,000 Total accounts payable and other liabilities - Justice $ 7,888,000 $ 6,744,000

ACCOUNTS PAYABLE AND OTHER LI_2

ACCOUNTS PAYABLE AND OTHER LIABILITIES	3 Months Ended
	Sep. 30, 2021
Payables and Accruals [Abstract]
ACCOUNTS PAYABLE AND OTHER LIABILITIES	NOTE 13 – ACCOUNTS PAYABLE AND OTHER LIABILITIES The following summarizes the balances of accounts payable and other liabilities as of September 30, 2021 and June 30, 2021. ACCOUNTS PAYABLE AND OTHER LIABILITIES As of September 30, 2021 June 30, 2021 Trade payable $ 559,000 $ 485,000 Advance deposits 267,000 282,000 Property tax payable 979,000 559,000 Payroll and related accruals 46,000 42,000 Interest payable 218,000 142,000 Withholding and other taxes payable 795,000 867,000 Security deposit 796,000 789,000 Other payables 208,000 191,000 Total accounts payable and other liabilities $ 3,868,000 $ 3,357,000

SUBSEQUENT EVENT

SUBSEQUENT EVENT	3 Months Ended
	Sep. 30, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENT	NOTE 14 – SUBSEQUENT EVENT On October 14, 2021, the Company refinanced its $ 15,900,000 28,800,000 12,938,000 2.95 ten years November 2031

BASIS OF PRESENTATION AND SIG_2

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Due to Securities Broker	Due to Securities Broker Various securities brokers have advanced funds to the Company for the purchase of marketable securities under standard margin agreements. These advanced funds are recorded as a liability.
Obligations for Securities Sold	Obligations for Securities Sold Obligation for securities sold represents the fair market value of shares sold with the promise to deliver that security at some future date and the fair market value of shares underlying the written call options with the obligation to deliver that security when and if the option is exercised. The obligation may be satisfied with current holdings of the same security or by subsequent purchases of that security. Unrealized gains and losses from changes in the obligation are included in the condensed consolidated statements of operations.
Income Tax	Income Tax The Company consolidates Justice (“Hotel”) for financial reporting purposes and was not taxed on its non-controlling interest in the Hotel. Effective July 15, 2021, the Company become the owner of 100% of Justice and will include all of the Hotel’s income and expense accounts into its income taxes calculations. The income tax benefit (expense) during the three months ended September 30, 2021 and 2020 represent the income tax effect on the Company’s pretax (loss) income which includes its share in the net loss of the Hotel accordingly.
Recently Issued and Adopted Accounting Pronouncements	Recently Issued and Adopted Accounting Pronouncements None.

LIQUIDITY (Tables)

LIQUIDITY (Tables)	3 Months Ended
	Sep. 30, 2021
Liquidity
SCHEDULE OF MATERIAL FINANCIAL OBLIGATIONS	The following table provides a summary as of September 30, 2021, the Company’s material financial obligations which also includes interest payments. SCHEDULE OF MATERIAL FINANCIAL OBLIGATIONS 9 Months Year Year Year Year Total 2022 2023 2024 2025 2026 Thereafter Mortgage and subordinated notes payable $ 184,089,000 $ 2,474,000 $ 28,535,000 $ 108,474,000 $ 3,866,000 $ 1,066,000 $ 39,674,000 SBA loans and other notes payable 2,544,000 361,000 183,000 - - 2,000,000 - Related party notes payable 3,947,000 425,000 567,000 567,000 567,000 567,000 1,254,000 Interest 29,513,000 6,660,000 8,120,000 4,897,000 1,380,000 1,265,000 7,191,000 Total $ 220,093,000 $ 9,920,000 $ 37,405,000 $ 113,938,000 $ 5,813,000 $ 4,898,000 $ 48,119,000

REVENUE (Tables)

REVENUE (Tables)	3 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
SCHEDULE OF DISAGGREGATION OF 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 following table present our Hotel revenue disaggregated by revenue streams. SCHEDULE OF DISAGGREGATION OF REVENUE For the three months ended September 30, 2021 2020 Hotel revenues: Hotel rooms $ 5,562,000 $ 2,890,000 Food and beverage 266,000 37,000 Garage 907,000 470,000 Other operating departments 70,000 28,000 Total hotel revenue $ 6,805,000 $ 3,425,000

INVESTMENT IN HOTEL, NET (Table

INVESTMENT IN HOTEL, NET (Tables)	3 Months Ended
	Sep. 30, 2021
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, 2021 Cost Depreciation Value Land $ 2,738,000 $ - $ 2,738,000 Finance lease ROU assets 1,805,000 (685,000 ) 1,120,000 Furniture and equipment 31,254,000 (28,087,000 ) 3,167,000 Building and improvements 64,587,000 (34,273,000 ) 30,314,000 Investment in Hotel, net $ 100,384,000 $ (63,045,000 ) $ 37,339,000 Accumulated Net Book June 30, 2021 Cost Depreciation Value Land $ 2,738,000 $ - $ 2,738,000 Finance lease ROU assets 1,805,000 (606,000 ) 1,199,000 Furniture and equipment 31,014,000 (27,957,000 ) 3,057,000 Building and improvements 64,585,000 (33,928,000 ) 30,657,000 Investment in Hotel, net $ 100,142,000 $ (62,491,000 ) $ 37,651,000

INVESTMENT IN REAL ESTATE, NET

INVESTMENT IN REAL ESTATE, NET (Tables)	3 Months Ended
	Sep. 30, 2021
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, 2021 June 30, 2021 Land $ 22,998,000 $ 22,998,000 Buildings, improvements and equipment 68,396,000 68,173,000 Accumulated depreciation (45,524,000 ) (44,930,000 ) 45,870,000 46,241,000 Land held for development 1,468,000 1,468,000 Investment in real estate, net $ 47,338,000 $ 47,709,000

INVESTMENT IN MARKETABLE SECU_2

INVESTMENT IN MARKETABLE SECURITIES (Tables)	3 Months Ended
	Sep. 30, 2021
Investment In Marketable Securities
SCHEDULE OF TRADING SECURITIES	At September 30, 2021 and June 30, 2021, all of the Company’s marketable securities are classified as trading securities. The change in the unrealized gains and losses on these investments, along with the changes in amounts due to broker are included in earnings. Trading securities are summarized as follows: SCHEDULE OF TRADING SECURITIES Gross Gross Net Investment Cost Unrealized Gain Unrealized Loss Unrealized Gain (Loss) Fair As of September 30, 2021 Corporate Equities $ 22,589,000 # $ 4,090,000 $ (3,245,000 ) $ 845,000 $ 23,434,000 As of June 30, 2021 Corporate Equities $ 29,816,000 $ 8,634,000 $ (2,658,000 ) $ 5,976,000 $ 35,792,000
SCHEDULE OF NET LOSS ON MARKETABLE SECURITIES COMPRISING OF REALIZED AND UNREALIZED GAINS (LOSSES)	Net gains (losses) on marketable securities on the statement 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, 2021 and 2020, respectively: SCHEDULE OF NET LOSS ON MARKETABLE SECURITIES COMPRISING OF REALIZED AND UNREALIZED GAINS (LOSSES) For the three months ended September 30, 2021 2020 Realized gain (loss) on marketable securities, net $ 2,393,000 $ (262,000 ) Realized loss on marketable securities related to Comstock (140,000 ) - Unrealized (loss) gain on marketable securities, net (4,211,000 ) 9,000 Unrealized (loss) gain on marketable securities related to Comstock (210,000 ) 95,000 Net loss on marketable securities $ (2,168,000 ) $ (158,000 )

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Sep. 30, 2021
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, 2021 June 30, 2021 Assets: Total - Level 1 Total - Level 1 Investment in marketable securities: REITs and real estate companies $ 7,832,000 $ 11,624,000 Communication services 3,957,000 4,872,000 Energy 3,066,000 6,374,000 Financial services 2,602,000 3,873,000 Technology 1,668,000 442,000 Industrials 1,342,000 3,746,000 Basic material 1,256,000 1,797,000 Consumer cyclical 953,000 1,702,000 Healthcare 464,000 981,000 Other 294,000 381,000 Total 23,434,000 35,792,000 Liabilities: Due to securities broker: (1,170,000 ) (7,917,000 ) Obligations for securities sold: (6,070,000 ) (6,419,000 ) $ 16,194,000 $ 21,456,000

CASH, CASH EQUIVALENTS AND RE_2

CASH, CASH EQUIVALENTS AND RESTRICTED CASH (Tables)	3 Months Ended
	Sep. 30, 2021
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 statement of cash flows. SCHEDULE OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH As of September 30, 2021 June 30, 2021 Cash and cash equivalents $ 9,928,000 $ 6,808,000 Restricted cash 9,371,000 8,584,000 Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statement of cash flows $ 19,299,000 $ 15,392,000

STOCK BASED COMPENSATION PLANS

STOCK BASED COMPENSATION PLANS (Tables)	3 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
SCHEDULE OF STOCK OPTION ACTIVITY	The following table summarizes the stock options activity from July 1, 2020 through September 30, 2021: SCHEDULE OF STOCK OPTION ACTIVITY Number of Weighted Average Weighted Average Aggregate Shares Exercise Price Remaining Life Intrinsic Value Oustanding at July 1, 2020 341,195 $ 16.95 3.83 $ 3,271,000 Granted - - Exercised - - Forfeited - - Exchanged - - Outstanding at September 30, 2020 341,195 $ 16.95 3.58 $ 4,448,000 Exercisable at September 30, 2020 333,995 $ 16.73 3.51 $ 4,428,000 Vested and Expected to vest at September 30, 2020 341,195 $ 16.95 3.58 $ 4,448,000 Oustanding at July 1, 2021 341,195 $ 16.95 3.58 $ 4,448,000 Granted - - Exercised - - Forfeited - - Exchanged - - Outstanding at September 30, 2021 341,195 $ 16.95 2.58 $ 9,259,000 Exercisable at September 30, 2021 337,595 $ 16.84 2.55 $ 9,198,000 Vested and Expected to vest at September 30, 2021 341,195 $ 16.95 2.58 $ 9,259,000

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	3 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
SCHEDULE OF SEGMENT REPORTING INFORMATION	Information below represents reported segments for the three months ended September 30, 2021 and 2020. Operating income (loss) from hotel operations consists of the operation of the hotel and the garage. Operating income from real estate operations consists of the operation of rental properties. Operating gains (losses) from investment transactions consists of net investment gains (losses), impairment loss on other investments, net unrealized gain (loss) on other investments, dividend and interest income and trading and margin interest expense. The other segment consists of corporate general and administrative expenses and the income tax (expense) benefit for the entire Company. SCHEDULE OF SEGMENT REPORTING INFORMATION As of and for the three months Hotel Real Estate Investment ended September 30, 2021 Operations Operations Transactions Corporate Total Revenues $ 6,805,000 $ 4,116,000 $ - $ - $ 10,921,000 Segment operating expenses (6,333,000 ) (2,074,000 ) - (810,000 ) (9,217,000 ) Segment income (loss) 472,000 2,042,000 - (810,000 ) 1,704,000 Interest expense - mortgage (1,661,000 ) (581,000 ) - - (2,242,000 ) Depreciation and amortization expense (554,000 ) (594,000 ) - - (1,148,000 ) Loss from investments - - (2,335,000 ) - (2,335,000 ) Income tax benefit - - - 1,115,000 1,115,000 Net income (loss) $ (1,743,000 ) $ 867,000 $ (2,335,000 ) $ 305,000 $ (2,906,000 ) Total assets $ 46,818,000 $ 47,338,000 $ 23,475,000 $ 16,209,000 $ 133,840,000 For the three months Hotel Real Estate Investment ended September 30, 2020 Operations Operations Transactions Corporate Total Revenues $ 3,425,000 $ 3,484,000 $ - $ - $ 6,909,000 Segment operating expenses (5,033,000 ) (1,887,000 ) - (1,366,000 ) (8,286,000 ) Segment income (loss) (1,608,000 ) 1,597,000 - (1,366,000 ) (1,377,000 ) Interest expense - mortgage (1,700,000 ) (615,000 ) - - (2,315,000 ) Depreciation and amortization expense (579,000 ) (612,000 ) - - (1,191,000 ) Gain from sale of real estate - 12,043,000 - - 12,043,000 Loss from investments - - (365,000 ) - (365,000 ) Income tax expense - - - (1,975,000 ) (1,975,000 ) Net income (loss) $ (3,887,000 ) $ 12,413,000 $ (365,000 ) $ (3,341,000 ) $ 4,820,000

RELATED PARTY AND OTHER FINAN_2

RELATED PARTY AND OTHER FINANCING TRANSACTIONS (Tables)	3 Months Ended
	Sep. 30, 2021
Related Party And Other Financing Transactions
SCHEDULE OF RELATED PARTY AND OTHER NOTES PAYABLE	The following summarizes the balances of related party and other notes payable as of September 30, 2021 and June 30, 2021, respectively. SCHEDULE OF RELATED PARTY AND OTHER NOTES PAYABLE As of September 30, 2021 June 30, 2021 Note payable - Hilton $ 2,613,000 $ 2,692,000 Note payable - Interstate 1,333,000 1,396,000 SBA Loans 2,000,000 2,000,000 Total related party and other notes payable $ 5,946,000 $ 6,088,000
SCHEDULE OF MINIMUM FUTURE LEASE PAYMENTS	SCHEDULE OF MINIMUM FUTURE LEASE PAYMENTS For the year ending June 30, 2022 $ 378,000 2023 188,000 Total minimum lease payments 566,000 Less interest on finance lease (22,000 ) Present value of future minimum lease payments $ 544,000
SCHEDULE OF FUTURE MINIMUM PRINCIPAL PAYMENTS	Future minimum principal payments and amortizations for all related party and other financing transactions are as follows: SCHEDULE OF FUTURE MINIMUM PRINCIPAL PAYMENTS For the year ending June 30, 2022 $ 786,000 2023 750,000 2024 567,000 2025 567,000 2026 2,567,000 Thereafter 1,254,000 Long-term Debt $ 6,491,000

ACCOUNTS PAYABLE AND OTHER LI_3

ACCOUNTS PAYABLE AND OTHER LIABILITIES - JUSTICE (Tables)	3 Months Ended
	Sep. 30, 2021
Accounts Payable And Other Liabilities - Justice
SCHEDULE OF ACCOUNTS PAYABLE AND OTHER LIABILITIES - JUSTICE	The following summarizes the balances of accounts payable and other liabilities – Justice as of September 30, 2021 and June 30, 2021. SCHEDULE OF ACCOUNTS PAYABLE AND OTHER LIABILITIES - JUSTICE As of September 30, 2021 June 30, 2021 Trade payable $ 2,525,000 $ 2,113,000 Advance deposits 399,000 161,000 Property tax payable 509,000 - Payroll and related accruals 2,549,000 2,345,000 Mortgage interest payable 518,000 582,000 Withholding and other taxes payable 649,000 885,000 Security deposit 52,000 52,000 Other payables 687,000 606,000 Total accounts payable and other liabilities - Justice $ 7,888,000 $ 6,744,000

ACCOUNTS PAYABLE AND OTHER LI_4

ACCOUNTS PAYABLE AND OTHER LIABILITIES (Tables)	3 Months Ended
	Sep. 30, 2021
Payables and Accruals [Abstract]
ACCOUNTS PAYABLE AND OTHER LIABILITIES	The following summarizes the balances of accounts payable and other liabilities as of September 30, 2021 and June 30, 2021. ACCOUNTS PAYABLE AND OTHER LIABILITIES As of September 30, 2021 June 30, 2021 Trade payable $ 559,000 $ 485,000 Advance deposits 267,000 282,000 Property tax payable 979,000 559,000 Payroll and related accruals 46,000 42,000 Interest payable 218,000 142,000 Withholding and other taxes payable 795,000 867,000 Security deposit 796,000 789,000 Other payables 208,000 191,000 Total accounts payable and other liabilities $ 3,868,000 $ 3,357,000

BASIS OF PRESENTATION AND SIG_3

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	3 Months Ended
	Sep. 30, 2021	Jun. 30, 2021
Cash received in liquidation	$ 5,013,000
Agreement description	Justice entered into a Hotel management agreement (“HMA”) with Interstate Management Company, LLC (“Interstate”) to manage the Hotel, along with its five-level parking garage, with an effective takeover date of February 3, 2017. The term of the management agreement is for an initial period of ten years commencing on the takeover date 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 Interstate shall be one and seven-tenths percent (1.70%) of total Hotel revenue.
Portsmouth Inc [Member]
Equity investment interest	74.90%
Santa Fe [Member]
Equity investment interest	83.70%
Cash received in liquidation	$ 221,000
Shares received in liquidation	18,641
Santa Fe [Member] | Chairman and CEO [Member]
Equity investment interest	3.70%
Cash received in liquidation	$ 221,000
Shares received in liquidation	18,641
Santa Fe [Member] | Portsmouth Inc [Member]
Ownership interest percentage	68.80%
Portsmouth [Member]
Cash received in liquidation	$ 5,013,000
Shares received in liquidation	422,998
Portsmouth [Member] | President, Chairman of the Board and Chief Executive Officer, John Winfield [Member]
Equity investment interest	2.50%
Justice Investors Limited Partnership Andinter Group [Member]
Equity investment interest		100.00%

SCHEDULE OF MATERIAL FINANCIAL

SCHEDULE OF MATERIAL FINANCIAL OBLIGATIONS (Details) - USD ($)	Sep. 30, 2021	Jun. 30, 2021
Debt Instrument [Line Items]
Long-term Debt	$ 220,093,000	$ 6,491,000
9 Months 2022	9,920,000
Year 2023	37,405,000	786,000
Year 2024	113,938,000	750,000
Year 2025	5,813,000	567,000
Year 2026	4,898,000	$ 567,000
Thereafter	48,119,000
Mortgage And Subordinated Notes Payable [Member]
Debt Instrument [Line Items]
Long-term Debt	184,089,000
9 Months 2022	2,474,000
Year 2026	1,066,000
Thereafter	39,674,000
Mortgage Notes Payable [Member]
Debt Instrument [Line Items]
Year 2023	28,535,000
Year 2024	108,474,000
Year 2025	3,866,000
SBA Loans and Other Notes Payable [Member]
Debt Instrument [Line Items]
Long-term Debt	2,544,000
9 Months 2022	361,000
Year 2023	183,000
Year 2024
Year 2025
Year 2026	2,000,000
Thereafter
Related Party Notes Payable [Member]
Debt Instrument [Line Items]
Long-term Debt	3,947,000
9 Months 2022	425,000
Year 2023	567,000
Year 2024	567,000
Year 2025	567,000
Year 2026	567,000
Thereafter	1,254,000
Interest [Member]
Debt Instrument [Line Items]
Long-term Debt	29,513,000
9 Months 2022	6,660,000
Year 2023	8,120,000
Year 2024	4,897,000
Year 2025	1,380,000
Year 2026	1,265,000
Thereafter	$ 7,191,000

LIQUIDITY (Details Narrative)

LIQUIDITY (Details Narrative) - USD ($)

Feb. 03, 2021

Apr. 30, 2020

Apr. 09, 2020

Jun. 30, 2020

Sep. 30, 2021

Sep. 30, 2020

Jun. 30, 2021

Apr. 09, 2022

Nov. 30, 2021

Sep. 07, 2021

Dec. 16, 2020

Jan. 31, 2017

Net cash (used in) provided by operating activities

$ 2,497,000

$ (8,009,000)

Net cash (used in) provided by operating activities

(2,497,000)

$ 8,009,000

Cash, cash equivalents

9,928,000

$ 6,808,000

$ 9,928,000

Marketable securities

$ 21,456,000

16,194,000

35,792,000

$ 23,434,000

Increased loan amount

8,150,000

Loan advanced

1,500,000

Working capital

$ 16,000,000

Proceeds from loan

$ 6,814,000

$ 1,144,000

$ 6,762,000

Proceeds from notes payable

$ 3,161,000

Debt interest rate

5.275%

Agreement description

Justice entered into a Hotel management agreement (“HMA”) with Interstate Management Company, LLC (“Interstate”) to manage the Hotel, along with its five-level parking garage, with an effective takeover date of February 3, 2017. The term of the management agreement is for an initial period of ten years commencing on the takeover date 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 Interstate shall be one and seven-tenths percent (1.70%) of total Hotel revenue.

CIBC Bank USA [Member] | Uncollateralized [Member]

Line of credit, available to be drawn

$ 5,000,000

Revolving Credit Facility [Member] | CIBC Bank USA [Member] | Uncollateralized [Member]

Revolving line of credit amount

$ 5,000,000

Loan Modification Agreement [Member] | Justice [Member] | Maximum [Member]

Increased loan amount

$ 10,000,000

CARES Act [Member] | CIBC Bank USA [Member]

Proceeds from loan

$ 2,000,000

Debt interest rate

1.00%

1.00%

CARES Act [Member] | CIBC Bank [Member]

Proceeds from loan

$ 4,719,000

Debt maturity date

Feb. 3, 2026

Agreement description

All payments of principal and interest are deferred until either: (a) if the SBA approves the forgiveness amount, the date the forgiveness amount is remitted by the SBA to CIBC; or (b) if Justice does not apply for forgiveness within 10 months after the last day of the covered period specified in the loan agreement or if the forgiveness amount is not approved, the date that is 10 months after the last day of the covered period. The loan may be forgiven if the funds are used for payroll and other qualified expenses. All unforgiven portion of the principal and accrued interest will be due at maturity.

SCHEDULE OF DISAGGREGATION OF R

SCHEDULE OF DISAGGREGATION OF REVENUE (Details) - USD ($)	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of Revenue [Line Items]
Total Hotel revenue	$ 10,921,000	$ 6,909,000
Hotel Rooms [Member]
Disaggregation of Revenue [Line Items]
Total Hotel revenue	5,562,000	2,890,000
Food and Beverage [Member]
Disaggregation of Revenue [Line Items]
Total Hotel revenue	266,000	37,000
Garage [Member]
Disaggregation of Revenue [Line Items]
Total Hotel revenue	907,000	470,000
Other Operating Departments [Member]
Disaggregation of Revenue [Line Items]
Total Hotel revenue	70,000	28,000
Hotel [Member]
Disaggregation of Revenue [Line Items]
Total Hotel revenue	$ 6,805,000	$ 3,425,000

REVENUE (Details Narrative)

REVENUE (Details Narrative) - USD ($)	Sep. 30, 2021	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Contract with customer, liability	$ 399,000	$ 161,000
Contract with customer liability, revenue recognized	$ 238,000

SCHEDULE OF INVESTMENT IN HOTEL

SCHEDULE OF INVESTMENT IN HOTEL (Details) - USD ($)	Nov. 30, 2021	Sep. 30, 2021	Jun. 30, 2021
Property, Plant and Equipment [Line Items]
Cost		$ 100,384,000	$ 100,142,000
Accumulated Depreciation		(63,045,000)	(62,491,000)
Net Book Value	$ 37,339,000	37,339,000	37,651,000
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		(685,000)	(606,000)
Net Book Value		1,120,000	1,199,000
Furniture and Equipment [Member]
Property, Plant and Equipment [Line Items]
Cost		31,254,000	31,014,000
Accumulated Depreciation		(28,087,000)	(27,957,000)
Net Book Value		3,167,000	3,057,000
Building and Improvements [Member]
Property, Plant and Equipment [Line Items]
Cost		64,587,000	64,585,000
Accumulated Depreciation		(34,273,000)	(33,928,000)
Net Book Value		$ 30,314,000	$ 30,657,000

SCHEDULE OF INVESTMENT IN REAL

SCHEDULE OF INVESTMENT IN REAL ESTATE (Details) - USD ($)	Sep. 30, 2021	Jun. 30, 2021
Property, Plant and Equipment [Line Items]
Real estate investment, Gross	$ 45,870,000	$ 46,241,000
Real estate investment, Accumulated depreciation	(45,524,000)	(44,930,000)
Real estate investment, Land held for development	1,468,000	1,468,000
Real estate investment, Net	47,338,000	47,709,000
Land [Member]
Property, Plant and Equipment [Line Items]
Real estate investment, Gross	22,998,000	22,998,000
Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Real estate investment, Gross	$ 68,396,000	$ 68,173,000

SCHEDULE OF TRADING SECURITIES

SCHEDULE OF TRADING SECURITIES (Details) - Equity Securities [Member] - USD ($)	3 Months Ended	12 Months Ended
	Sep. 30, 2021	Jun. 30, 2021
Financing Receivable, Impaired [Line Items]
Cost	$ 22,589,000	$ 29,816,000
Gross unrealized gain	4,090,000	8,634,000
Gross unrealized loss	(3,245,000)	(2,658,000)
Net unrealized loss	845,000	5,976,000
Fair value	$ 23,434,000	$ 35,792,000

SCHEDULE OF NET LOSS ON MARKETA

SCHEDULE OF NET LOSS ON MARKETABLE SECURITIES COMPRISING OF REALIZED AND UNREALIZED GAINS (LOSSES) (Details) - USD ($)	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Investment In Marketable Securities
Realized gain (loss) on marketable securities, net	$ 2,393,000	$ (262,000)
Realized loss on marketable securities related to Comstock	(140,000)
Unrealized (loss) gain on marketable securities, net	(4,211,000)	9,000
Unrealized (loss) gain on marketable securities related to Comstock	(210,000)	95,000
Net loss on marketable securities	$ (2,168,000)	$ (158,000)

INVESTMENT IN MARKETABLE SECU_3

INVESTMENT IN MARKETABLE SECURITIES (Details Narrative) - Comstock [Member] - USD ($)	3 Months Ended	12 Months Ended
	Sep. 30, 2021	Jun. 30, 2021
Investment marketable securities percentage	400.00%	400.00%
Unrealized losses related to securities	$ 2,131,000	$ 2,176,000
Unrealized losses related to investment	$ 2,009,000	$ 1,933,000

SCHEDULE OF FAIR VALUE MEASUREM

SCHEDULE OF FAIR VALUE MEASUREMENT ON RECURRING BASIS (Details) - USD ($)	Nov. 30, 2021	Sep. 30, 2021	Jun. 30, 2021	Jun. 30, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in marketable securities	$ 23,434,000	$ 16,194,000	$ 35,792,000	$ 21,456,000
Due to securities broker	(1,170,000)		(7,917,000)
Obligations for securities sold	$ 6,070,000		6,419,000
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in marketable securities		16,194,000	21,456,000
Marketable Securities Gross		23,434,000	35,792,000
Due to securities broker		(1,170,000)	(7,917,000)
Obligations for securities sold		(6,070,000)	(6,419,000)
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]
Investment in marketable securities		7,832,000		$ 11,624,000
Fair Value, Inputs, Level 1 [Member] | Communication Services [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in marketable securities		3,957,000	4,872,000
Fair Value, Inputs, Level 1 [Member] | Energy [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in marketable securities		3,066,000	6,374,000
Fair Value, Inputs, Level 1 [Member] | Financial Services [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in marketable securities		2,602,000	3,873,000
Fair Value, Inputs, Level 1 [Member] | Technology [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in marketable securities		1,668,000	442,000
Fair Value, Inputs, Level 1 [Member] | Industrials [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in marketable securities		1,342,000	3,746,000
Fair Value, Inputs, Level 1 [Member] | Basic Material [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in marketable securities		1,256,000	1,797,000
Fair Value, Inputs, Level 1 [Member] | Consumer Cyclical [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in marketable securities		953,000	1,702,000
Fair Value, Inputs, Level 1 [Member] | Health Care [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in marketable securities		464,000	981,000
Fair Value, Inputs, Level 1 [Member] | Other [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in marketable securities		$ 294,000	$ 381,000

SCHEDULE OF CASH, CASH EQUIVALE

SCHEDULE OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH (Details) - USD ($)	Nov. 30, 2021	Sep. 30, 2021	Jun. 30, 2021
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 9,928,000	$ 9,928,000	$ 6,808,000
Restricted cash	$ 9,371,000	9,371,000	8,584,000
Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statement of cash flows		$ 19,299,000	$ 15,392,000

SCHEDULE OF STOCK OPTION ACTIVI

SCHEDULE OF STOCK OPTION ACTIVITY (Details) - USD ($)	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Number of Shares, Outstanding, Beginning Balance	341,195	341,195
Weighted Average Exercise Price, Outstanding, Beginning Balance	$ 16.95	$ 16.95
Weighted Average Remaining Life, Outstanding, Beginning Balance	3 years 6 months 29 days	3 years 9 months 29 days
Aggregate Intrinsic Value, Outstanding, Beginning Balance	$ 4,448,000	$ 3,271,000
Number of Shares, Granted
Weighted Average Exercise Price, Granted
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	341,195	341,195
Weighted Average Exercise Price, Outstanding, Ending Balance	$ 16.95	$ 16.95
Weighted Average Remaining Life, Outstanding, Ending Balance	2 years 6 months 29 days	3 years 6 months 29 days
Aggregate Intrinsic Value, Outstanding, Ending Balance	$ 9,259,000	$ 4,448,000
Number of Shares, Exercisable, Ending Balance	337,595	333,995
Weighted Average Exercise Price, Exercisable, Ending Balance	$ 16.84	$ 16.73
Weighted Average Remaining Life, Exercisable, Ending Balance	2 years 6 months 18 days	3 years 6 months 3 days
Aggregate Intrinsic Value, Exercisable, Ending Balance	$ 9,198,000	$ 4,428,000
Number of Shares, Vested and expected to vest, Ending Balance	341,195	341,195
Weighted Average Exercise Price, Vested and expected to vest, Ending Balance	$ 16.95	$ 16.95
Weighted Average Remaining Life, Vested and expected to vest, Ending Balance	2 years 6 months 29 days	3 years 6 months 29 days
Aggregate Intrinsic Value, Vested and expected to vest, Ending Balance	$ 9,259,000	$ 4,448,000

STOCK BASED COMPENSATION PLAN_2

STOCK BASED COMPENSATION PLANS (Details Narrative) - USD ($)	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Stock based compensation	$ 2,000	$ 5,000
Unamortized compensation related to stock option	$ 2,000
Recognized weighted average period	5 months 1 day

SCHEDULE OF SEGMENT REPORTING I

SCHEDULE OF SEGMENT REPORTING INFORMATION (Details) - USD ($)	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Nov. 30, 2021	Jun. 30, 2021
Segment Reporting Information [Line Items]
Revenues	$ 10,921,000	$ 6,909,000
Segment operating expenses	10,365,000	9,478,000
Segment operating expenses	(10,365,000)	(9,478,000)
Segment income (loss)	556,000	(2,569,000)
Interest expense - mortgage	(2,242,000)	(2,315,000)
Depreciation and amortization expense	(1,148,000)	(1,191,000)
Income tax benefit (expense)	1,115,000	(1,975,000)
Net income (loss)	(2,906,000)	4,819,000
Total assets			$ 133,840,000	$ 140,346,000
Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	10,921,000	6,909,000
Segment operating expenses	9,217,000	8,286,000
Segment operating expenses	(9,217,000)	(8,286,000)
Segment income (loss)	1,704,000	(1,377,000)
Interest expense - mortgage	(2,242,000)	(2,315,000)
Depreciation and amortization expense	(1,148,000)	(1,191,000)
Loss from investments	(2,335,000)	(365,000)
Income tax benefit (expense)	1,115,000	(1,975,000)
Net income (loss)	(2,906,000)	4,820,000
Total assets	133,840,000
Gain from sale of real estate		12,043,000
Hotel Operations [Member]
Segment Reporting Information [Line Items]
Revenues	6,805,000	3,425,000
Segment operating expenses	(6,333,000)	5,033,000
Segment operating expenses	6,333,000	(5,033,000)
Segment income (loss)	472,000	(1,608,000)
Interest expense - mortgage	(1,661,000)	(1,700,000)
Depreciation and amortization expense	(554,000)	(579,000)
Loss from investments
Income tax benefit (expense)
Net income (loss)	(1,743,000)	(3,887,000)
Total assets	46,818,000
Gain from sale of real estate
Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Revenues	4,116,000	3,484,000
Segment operating expenses	2,074,000	1,887,000
Segment operating expenses	(2,074,000)	(1,887,000)
Segment income (loss)	2,042,000	1,597,000
Interest expense - mortgage	(581,000)	(615,000)
Depreciation and amortization expense	(594,000)	(612,000)
Loss from investments
Income tax benefit (expense)
Net income (loss)	867,000	12,413,000
Total assets	47,338,000
Gain from sale of real estate		12,043,000
Investment Transactions [Member]
Segment Reporting Information [Line Items]
Revenues
Segment operating expenses
Segment operating expenses
Segment income (loss)
Interest expense - mortgage
Depreciation and amortization expense
Loss from investments	(2,335,000)	(365,000)
Income tax benefit (expense)
Net income (loss)	(2,335,000)	(365,000)
Total assets	23,475,000
Gain from sale of real estate
Corporate Segment [Member]
Segment Reporting Information [Line Items]
Revenues
Segment operating expenses	810,000	1,366,000
Segment operating expenses	(810,000)	(1,366,000)
Segment income (loss)	(810,000)	(1,366,000)
Interest expense - mortgage
Depreciation and amortization expense
Loss from investments
Income tax benefit (expense)	1,115,000	(1,975,000)
Net income (loss)	305,000	(3,341,000)
Total assets	$ 16,209,000
Gain from sale of real estate

SCHEDULE OF RELATED PARTY AND O

SCHEDULE OF RELATED PARTY AND OTHER NOTES PAYABLE (Details) - USD ($)	Sep. 30, 2021	Jun. 30, 2021
Defined Benefit Plan Disclosure [Line Items]
Total related party and other notes payable	$ 5,946,000	$ 6,088,000
Note payable - Hilton [Member]
Defined Benefit Plan Disclosure [Line Items]
Total related party and other notes payable	2,613,000	2,692,000
Note payable - Interstate [Member]
Defined Benefit Plan Disclosure [Line Items]
Total related party and other notes payable	1,333,000	1,396,000
SBA Loan - Justice [Member]
Defined Benefit Plan Disclosure [Line Items]
Total related party and other notes payable	$ 2,000,000	$ 2,000,000

SCHEDULE OF MINIMUM FUTURE LEAS

SCHEDULE OF MINIMUM FUTURE LEASE PAYMENTS (Details) - USD ($)	Sep. 30, 2021	Jun. 30, 2021
Related Party And Other Financing Transactions
2022		$ 378,000
2023		188,000
Total minimum lease payments		566,000
Less interest on finance lease		(22,000)
Present value of future minimum lease payments	$ 544,000	$ 544,000

SCHEDULE OF FUTURE MINIMUM PRIN

SCHEDULE OF FUTURE MINIMUM PRINCIPAL PAYMENTS (Details) - USD ($)	Sep. 30, 2021	Jun. 30, 2021
Related Party And Other Financing Transactions
2022	$ 37,405,000	$ 786,000
2023	113,938,000	750,000
2024	5,813,000	567,000
2025	4,898,000	567,000
2026		2,567,000
Thereafter		1,254,000
Long-term Debt	$ 220,093,000	$ 6,491,000

RELATED PARTY AND OTHER FINAN_3

RELATED PARTY AND OTHER FINANCING TRANSACTIONS (Details Narrative) - USD ($)

Feb. 03, 2021

Nov. 23, 2020

Aug. 28, 2020

Apr. 30, 2020

Apr. 09, 2020

Jul. 31, 2018

Jul. 31, 2018

Jun. 30, 2018

Feb. 03, 2017

Feb. 03, 2002

Jun. 30, 2020

Jul. 02, 2014

Sep. 30, 2021

Mar. 31, 2021

Jun. 30, 2021

Apr. 09, 2022

Dec. 16, 2020

Jul. 31, 2019

May 11, 2017

Jan. 31, 2017

Dec. 31, 2013

Debt instrument, payment terms

10

Key money incentive advance to related party

$ 2,000,000

Debt Instrument, Convertible, Remaining Discount Amortization Period

8 years

Debt instrument, interest rate, stated percentage

5.275%

Financial lease obligations

$ 544,000

$ 544,000

Finance lease term

through 2023

Debt instrument, maturity date, description

Beginning in February 2017, the loan began to amortize over a thirty-year period through its maturity date of January 2024.

The mezzanine interest only loan had an interest rate of 9.75% per annum and a maturity date of January 1, 2024.

Outstanding loan principal amount

$ 90,355,000

90,745,000

Proceeds from loan

$ 6,814,000

$ 1,144,000

$ 6,762,000

Outstanding mortgage notes payable

$ 334,000

Property gain on sale of asset

901,000

Cash received in liquidation

$ 5,013,000

Parent Company [Member]

Variable interest rate LIBOR

The RLOC carries a variable interest rate of 30-day LIBOR plus 3%.

CIBC Bank USA [Member]

Revolving line of credit

$ 5,000,000

Drawn to pay off mortgage note payable

$ 2,969,000

Unsecured Debt [Member]

Debt instrument, payment terms

with a term of 2 years

Debt instrument, maturity date

Jul. 31, 2022

Debt instrument, interest rate, stated percentage

12.00%

Debt instrument, maturity date, description

The loan was extended to July 31, 2022.

Debt instrument, face amount

$ 4,250,000

Percentage of loan fee received

3.00%

Minimum [Member]

Finance lease term

4.62%

Maximum [Member]

Finance lease term

6.25%

Cred Reit Holdco LLC [Member] | CIBC Bank [Member]

Drawn to pay off mortgage note payable

$ 2,969,000

Justice Investors Limited Partnership Andinter Group [Member]

Equity investment interest

100.00%

Santa Fe [Member]

Sale of asset, value

$ 1,530,000

Exchange value reduction

$ 1,196,000

Acquired property, value

$ 785,000

Cash received in liquidation

$ 221,000

Shares received in liquidation

18,641

Equity investment interest

83.70%

Santa Fe [Member] | Management [Member]

Equity investment interest

3.70%

Portsmouth [Member]

Cash received in liquidation

$ 5,013,000

Shares received in liquidation

422,998

CARES Act [Member] | CIBC Bank [Member]

Debt instrument, maturity date

Feb. 3, 2026

Proceeds from loan

$ 4,719,000

CARES Act [Member] | CIBC Bank USA [Member]

Debt instrument, interest rate, stated percentage

1.00%

1.00%

Proceeds from loan

$ 2,000,000

CARES Act [Member] | CIBC Bank USA [Member]

Debt instrument, maturity date

Feb. 3, 2026

Debt instrument, interest rate, stated percentage

1.00%

Loan Modification Agreement [Member] | Justice Investors Limited Partnership Andinter Group [Member]

Debt instrument, face amount

$ 10,000,000

Current loan balance

$ 8,150,000

$ 6,650,000

Contribution Agreement [Member] | Santa Fe [Member]

Drawn to pay off mortgage note payable

$ 15,650,000

Proceeds from loan

12,163,000

Repayment of line of credit

2,985,000

Proceeds from line of credit

$ 662,000

Interest Free Development Incentive Note [Member]

Notes reduction

$ 316,000

Debt instrument, payment terms

through 2030

Prior Mortgage [Member]

Accounts payable to related party

$ 42,940,000

Mortgage Loan [Member]

Accounts payable to related party

$ 97,000,000

97,000,000

Mezzanine Loan [Member]

Accounts payable to related party

$ 20,000,000

$ 20,000,000

New Mezzanine Loan [Member]

Debt instrument, interest rate, stated percentage

7.25%

New Mezzanine Loan [Member] | Cred Reit Holdco LLC [Member]

Debt instrument, interest rate, stated percentage

9.75%

Debt instrument, face amount

$ 20,000,000

SCHEDULE OF ACCOUNTS PAYABLE AN

SCHEDULE OF ACCOUNTS PAYABLE AND OTHER LIABILITIES - JUSTICE (Details) - USD ($)	Sep. 30, 2021	Jun. 30, 2021
Trade payable	$ 559,000	$ 485,000
Advance deposits	267,000	282,000
Property tax payable	979,000	559,000
Payroll and related accruals	46,000	42,000
Mortgage interest payable	218,000	142,000
Withholding and other taxes payable	795,000	867,000
Security deposit	796,000	789,000
Other payables	208,000	191,000
Justice [Member]
Trade payable	2,525,000	2,113,000
Advance deposits	399,000	161,000
Property tax payable	509,000
Payroll and related accruals	2,549,000	2,345,000
Mortgage interest payable	518,000	582,000
Withholding and other taxes payable	649,000	885,000
Security deposit	52,000	52,000
Other payables	687,000	606,000
Total accounts payable and other liabilities - Justice	$ 7,888,000	$ 6,744,000

ACCOUNTS PAYABLE AND OTHER LI_5

ACCOUNTS PAYABLE AND OTHER LIABILITIES (Details) - USD ($)	Nov. 30, 2021	Sep. 30, 2021	Jun. 30, 2021
Payables and Accruals [Abstract]
Trade payable		$ 559,000	$ 485,000
Advance deposits		267,000	282,000
Property tax payable		979,000	559,000
Payroll and related accruals		46,000	42,000
Interest payable		218,000	142,000
Withholding and other taxes payable		795,000	867,000
Security deposit		796,000	789,000
Other payables		208,000	191,000
Total accounts payable and other liabilities	$ 3,868,000	$ 3,868,000	$ 3,357,000

SUBSEQUENT EVENT (Details Narra

SUBSEQUENT EVENT (Details Narrative) - USD ($)	Oct. 14, 2021	Oct. 14, 2021	Feb. 03, 2017	Mar. 31, 2021	Jan. 31, 2017
Subsequent Event [Line Items]
Debt interest rate					5.275%
Debt maturity date			Beginning in February 2017, the loan began to amortize over a thirty-year period through its maturity date of January 2024.	The mezzanine interest only loan had an interest rate of 9.75% per annum and a maturity date of January 1, 2024.
Subsequent Event [Member]
Subsequent Event [Line Items]
Mortgages notes payable, value	$ 15,900,000	$ 15,900,000
Mortgages on notes payable	$ 28,800,000
Proceeds from bank debt		$ 12,938,000
Debt interest rate	2.95%	2.95%
Debt instrument term	10 years
Debt maturity date		November 2031