The InterGroup Corporation (INTG) 10-Q 9 Feb 23 2023 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Dec. 31, 2022	Feb. 06, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2022
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2023
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		2,207,466

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Dec. 31, 2022	Jun. 30, 2022
ASSETS
Investment in Hotel, net	$ 38,638,000	$ 37,267,000
Investment in real estate, net	48,525,000	48,025,000
Investment in marketable securities	22,089,000	11,049,000
Cash and cash equivalents	8,153,000	14,367,000
Restricted cash	7,753,000	8,982,000
Other assets, net	3,529,000	2,744,000
Deferred tax assets, net	3,612,000	3,612,000
Total assets	132,299,000	126,046,000
Liabilities:
Accounts payable and other liabilities	2,786,000	2,715,000
Accounts payable and other liabilities - Hotel	9,930,000	7,691,000
Due to securities broker	6,440,000	490,000
Obligations for securities sold	123,000	449,000
Related party notes payable	3,238,000	3,521,000
Mortgage notes payable - Hotel, net	107,890,000	108,747,000
Mortgage notes payable - real estate, net	84,938,000	85,437,000
Total liabilities	215,345,000	209,050,000
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; 2,211,066 and 2,236,180 outstanding, respectively	33,000	33,000
Additional paid-in capital	2,588,000	3,277,000
Accumulated deficit	(44,425,000)	(46,116,000)
Treasury stock, at cost, 1,248,822 and 1,223,708 shares as of December 31, 2022 and June 30, 2022, respectively	(20,566,000)	(19,324,000)
Total InterGroup shareholders’ deficit	(62,370,000)	(62,130,000)
Noncontrolling interest	(20,676,000)	(20,874,000)
Total shareholders’ deficit	(83,046,000)	(83,004,000)
Total liabilities and shareholders’ deficit	$ 132,299,000	$ 126,046,000

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2022	Jun. 30, 2022
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	2,211,066	2,236,180
Treasury stock, shares	1,248,822	1,223,708

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Revenues:
Total revenues	$ 13,872,000	$ 10,214,000	$ 30,260,000	$ 21,135,000
Costs and operating expenses:
Hotel operating expenses	(8,726,000)	(6,479,000)	(18,032,000)	(12,812,000)
Real estate operating expenses	(2,672,000)	(2,276,000)	(4,863,000)	(4,350,000)
Depreciation and amortization expenses	(1,302,000)	(1,135,000)	(2,631,000)	(2,283,000)
General and administrative expenses	(975,000)	(576,000)	(1,674,000)	(1,386,000)
Total costs and operating expenses	(13,675,000)	(10,466,000)	(27,200,000)	(20,831,000)
Income from operations	197,000	(252,000)	3,060,000	304,000
Other (expense) income:
Interest expense - mortgages	(2,160,000)	(2,282,000)	(4,382,000)	(4,524,000)
Net gain (loss) on marketable securities	1,384,000	(120,000)	574,000	(1,938,000)
Net loss on marketable securities - Comstock		(2,231,000)		(2,581,000)
Gain on extinguishment of debt		1,665,000		1,665,000
Gain on insurance recovery	2,692,000		2,692,000
Impairment loss on other investments		(41,000)		(41,000)
Dividend and interest income	122,000	462,000	297,000	649,000
Trading and margin interest expense	(444,000)	(360,000)	(709,000)	(714,000)
Total other expense, net	1,594,000	(2,907,000)	(1,528,000)	(7,484,000)
Income (loss) before income taxes	1,791,000	(3,159,000)	1,532,000	(7,180,000)
Income tax (expense) benefit	(224,000)	916,000	(166,000)	2,031,000
Net income (loss)	1,567,000	(2,243,000)	1,366,000	(5,149,000)
Less: Net loss attributable to the noncontrolling interest	323,000	240,000	325,000	985,000
Net income (loss) attributable to The InterGroup Corporation	$ 1,890,000	$ (2,003,000)	$ 1,691,000	$ (4,164,000)
Net income (loss) per share attributable to The InterGroup Corporation
Basic	$ 0.85	$ (0.91)	$ 0.76	$ (1.88)
Diluted	$ 0.77	$ (0.91)
Weighted average number of basic common shares outstanding	2,215,586	2,204,137	2,224,884	2,213,520
Weighted average number of diluted common shares outstanding	2,466,781	2,541,732	2,476,079	2,551,115
Hotel [Member]
Revenues:
Total revenues	$ 9,892,000	$ 6,348,000	$ 22,202,000	$ 13,153,000
Real Estate [Member]
Revenues:
Total revenues	$ 3,980,000	$ 3,866,000	$ 8,058,000	$ 7,982,000

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]	Parent [Member]	Noncontrolling Interest [Member]	Total
Beginning balance, value at Jun. 30, 2021	$ 33,000	$ 2,172,000	$ (36,394,000)	$ (17,370,000)	$ (51,559,000)	$ (19,677,000)	$ (71,236,000)
Beginning balance, shares at Jun. 30, 2021	3,404,982
Net Income (Loss)			(2,161,000)		(2,161,000)	(745,000)	(2,906,000)
Investment in Portsmouth		(25,000)			(25,000)	17,000	(8,000)
Purchase of treasury stock				(74,000)	(74,000)		(74,000)
Stock options expense		2,000			2,000		2,000
Purchase of remaining interest in Justice			(999,000)		(999,000)	999,000
Investment in Justice						(344,000)	(344,000)
Ending balance, value at Sep. 30, 2021	$ 33,000	2,149,000	(39,554,000)	(17,444,000)	(54,816,000)	(19,750,000)	(74,566,000)
Ending balance, shares at Sep. 30, 2021	3,404,982
Beginning balance, value at Jun. 30, 2021	$ 33,000	2,172,000	(36,394,000)	(17,370,000)	(51,559,000)	(19,677,000)	(71,236,000)
Beginning balance, shares at Jun. 30, 2021	3,404,982
Net Income (Loss)							(5,149,000)
Ending balance, value at Dec. 31, 2021	$ 33,000	2,118,000	(41,557,000)	(18,957,000)	(58,363,000)	(19,966,000)	(78,329,000)
Ending balance, shares at Dec. 31, 2021	3,404,982
Beginning balance, value at Sep. 30, 2021	$ 33,000	2,149,000	(39,554,000)	(17,444,000)	(54,816,000)	(19,750,000)	(74,566,000)
Beginning balance, shares at Sep. 30, 2021	3,404,982
Net Income (Loss)			(2,003,000)		(2,003,000)	(240,000)	(2,243,000)
Investment in Portsmouth		(33,000)			(33,000)	24,000	(9,000)
Purchase of treasury stock				(1,513,000)	(1,513,000)		(1,513,000)
Stock options expense		2,000			2,000		2,000
Ending balance, value at Dec. 31, 2021	$ 33,000	2,118,000	(41,557,000)	(18,957,000)	(58,363,000)	(19,966,000)	(78,329,000)
Ending balance, shares at Dec. 31, 2021	3,404,982
Beginning balance, value at Jun. 30, 2022	$ 33,000	3,277,000	(46,116,000)	(19,324,000)	(62,130,000)	(20,874,000)	(83,004,000)
Beginning balance, shares at Jun. 30, 2022	3,459,888
Net Income (Loss)			(199,000)		(199,000)	(2,000)	(201,000)
Investment in Portsmouth		(19,000)			(19,000)	14,000	(5,000)
Purchase of treasury stock				(872,000)	(872,000)		(872,000)
Ending balance, value at Sep. 30, 2022	$ 33,000	3,258,000	(46,315,000)	(20,196,000)	(63,220,000)	(20,862,000)	(84,082,000)
Ending balance, shares at Sep. 30, 2022	3,459,888
Beginning balance, value at Jun. 30, 2022	$ 33,000	3,277,000	(46,116,000)	(19,324,000)	(62,130,000)	(20,874,000)	(83,004,000)
Beginning balance, shares at Jun. 30, 2022	3,459,888
Net Income (Loss)							1,366,000
Ending balance, value at Dec. 31, 2022	$ 33,000	2,588,000	(44,425,000)	(20,566,000)	(62,370,000)	(20,676,000)	(83,046,000)
Ending balance, shares at Dec. 31, 2022	3,459,888
Beginning balance, value at Sep. 30, 2022	$ 33,000	3,258,000	(46,315,000)	(20,196,000)	(63,220,000)	(20,862,000)	(84,082,000)
Beginning balance, shares at Sep. 30, 2022	3,459,888
Net Income (Loss)			1,890,000		1,890,000	(323,000)	1,567,000
Investment in Portsmouth		(670,000)			(670,000)	509,000	(161,000)
Purchase of treasury stock				(370,000)	(370,000)		(370,000)
Ending balance, value at Dec. 31, 2022	$ 33,000	$ 2,588,000	$ (44,425,000)	$ (20,566,000)	$ (62,370,000)	$ (20,676,000)	$ (83,046,000)
Ending balance, shares at Dec. 31, 2022	3,459,888

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net income (loss)	$ 1,366,000	$ (5,149,000)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization	2,525,000	2,223,000
Gain on extinguishment of debt		(2,000,000)
Gain on insurance recovery	(2,692,000)
Deferred taxes		(2,032,000)
Net unrealized (gain) loss on marketable securities	(2,096,000)	3,519,000
Impairment loss on other investments		41,000
Stock compensation expense		4,000
Changes in operating assets and liabilities:
Investment in marketable securities	(8,944,000)	11,125,000
Other assets, net	(785,000)	(893,000)
Accounts payable and other liabilities - Hotel	2,422,000	(217,000)
Accounts payable and other liabilities	71,000	159,000
Due to securities broker	5,950,000	(7,263,000)
Obligations for securities sold	(326,000)	(4,109,000)
Net cash used in operating activities	(2,509,000)	(4,592,000)
Cash flows from investing activities:
Payments for hotel investments	(2,682,000)	(1,262,000)
Payments for real estate investments	(1,820,000)	(654,000)
Insurance proceeds for property damage claims	2,692,000
Payments for investment in Portsmouth	(166,000)	(17,000)
Payments for investment in Justice		(344,000)
Net cash used in investing activities	(1,976,000)	(2,277,000)
Cash flows from financing activities:
Payments of mortgage, financed leases and other notes payable, net	(1,716,000)	(2,130,000)
Proceeds from refinance of mortgage notes payable		16,099,000
Issuance costs of refinancing mortgage and other notes payable		(91,000)
Purchase of treasury stock	(1,242,000)	(1,587,000)
Net cash (used in) provided by financing activities	(2,958,000)	12,291,000
Net (decrease) increase in cash, cash equivalents and restricted cash	(7,443,000)	5,422,000
Cash, cash equivalents and restricted cash at the beginning of the period	23,349,000	15,392,000
Cash, cash equivalents and restricted cash at the end of the period	15,906,000	20,814,000
Supplemental information:
Interest paid	3,528,000	4,093,000
Taxes paid		$ 679,000

BASIS OF PRESENTATION AND SIGNI

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Dec. 31, 2022
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”), 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, 2022. The June 30, 2022 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, 2022. The 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 and six months ended December 31, 2022 are not necessarily indicative of results to be expected for the full fiscal year ending June 30, 2023. Effective February 19, 2021, the Company’s 83.7 68.8 75.6 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 Effective 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. 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 the February 3, 2017 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 Aimbridge 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 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 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 six months ended December 31, 2022. Please refer to the Company’s Annual Report on Form 10-K for the year ended June 30, 2022 for a summary of the significant accounting policies. Certain prior year amounts have been reclassified for consistency with the current period presentation on the condensed consolidated balance sheet. Finance leases of $ 183,000 as of June 30, 2022, were reclassified to Accounts Payable and Other Liabilities - Hotel. These reclassifications had no effect on the reported results of operations and financial position. Recently Issued and Adopted Accounting Pronouncements As of December 31, 2022, 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.

LIQUIDITY

LIQUIDITY	6 Months Ended
	Dec. 31, 2022
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 continues to have a material detrimental impact on our liquidity. For the six months ended December 31, 2022, our net cash flow used for operations was $ 2,509,000 2,682,000 1,820,000 The Company had cash and cash equivalents of $ 8,153,000 14,367,000 7,753,000 8,982,000 15,526,000 10,110,000 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 July 31, 2021 the maturity date was extended to July 31, 2023 16,000,000 11,350,000 16,000,000 7,550,000 14,200,000 During the fiscal year ended June 30, 2022, the Company refinanced five of our properties’ existing mortgages and obtained a mortgage note payable on one of our California properties, generating net proceeds totaling $ 16,683,000 2,000,000 5,000,000 2,000,000 2,000,000 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 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. 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 the economic recovery takes longer than anticipated. 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 December 31, 2022, the Company’s material financial obligations which also includes interest payments. SCHEDULE OF MATERIAL FINANCIAL OBLIGATION 6 Months Year Year Year Year Total 2023 2024 2025 2026 2027 Thereafter Mortgage and subordinated notes payable $ 193,866,000 $ 6,357,000 $ 108,417,000 $ 3,966,000 $ 1,171,000 $ 3,301,000 $ 70,654,000 Related party notes payable 3,238,000 283,000 567,000 567,000 567,000 463,000 791,000 Interest 31,259,000 4,392,000 5,640,000 2,501,000 2,381,000 2,274,000 14,071,000 Total $ 228,363,000 $ 11,032,000 $ 114,624,000 $ 7,034,000 $ 4,119,000 $ 6,038,000 $ 85,516,000

REVENUE

REVENUE	6 Months Ended
	Dec. 31, 2022
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 eliminates rental revenue from the accounting standard. The following table present our Hotel revenue disaggregated by revenue streams: SCHEDULE OF DISAGGREGATION OF REVENUE For the three months ended December 31, 2022 2021 Hotel revenues: Hotel rooms $ 8,250,000 $ 5,218,000 Food and beverage 625,000 296,000 Garage 717,000 768,000 Other operating departments 300,000 66,000 Total hotel revenue $ 9,892,000 $ 6,348,000 For the six months ended December 31, 2022 2021 Hotel revenues: Hotel rooms $ 19,053,000 $ 10,780,000 Food and beverage 1,160,000 562,000 Garage 1,539,000 1,675,000 Other operating departments 450,000 136,000 Total hotel revenue $ 22,202,000 $ 13,153,000 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. Contract assets and liabilities We do not have any material contract assets as of December 31, 2022 and June 30, 2022, 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. 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 consolidated balance sheets and had a balance of $ 493,000 493,000 1,828,000 161,000 161,000 445,000 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	6 Months Ended
	Dec. 31, 2022
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, NET Accumulated Net Book December 31, 2022 Cost Depreciation Value Land $ 2,738,000 $ - $ 2,738,000 Finance lease ROU assets 1,805,000 (1,002,000 ) 803,000 Furniture and equipment 35,543,000 (29,107,000 ) 6,436,000 Building and improvements 64,665,000 (36,004,000 ) 28,661,000 Investment in Hotel, net $ 104,751,000 $ (66,113,000 ) $ 38,638,000 Accumulated Net Book June 30, 2022 Cost Depreciation Value Land $ 2,738,000 $ - $ 2,738,000 Finance lease ROU assets 1,805,000 (922,000 ) 883,000 Furniture and equipment 32,860,000 (28,567,000 ) 4,293,000 Building and improvements 64,665,000 (35,312,000 ) 29,353,000 Investment in Hotel, net $ 102,068,000 $ (64,801,000 ) $ 37,267,000 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 1,311,000 1,093,000

INVESTMENT IN REAL ESTATE, NET

INVESTMENT IN REAL ESTATE, NET	6 Months Ended
	Dec. 31, 2022
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 December 31, 2022 June 30, 2022 Land $ 22,998,000 $ 22,998,000 Buildings, improvements and equipment 72,752,000 70,933,000 Accumulated depreciation (48,693,000 ) (47,374,000 ) Investment in real estate, gross 47,057,000 46,557,000 Land held for development 1,468,000 1,468,000 Investment in real estate, net $ 48,525,000 $ 48,025,000 Building, improvements, and equipment are stated at cost, depreciated on a straight-line basis over their useful lives ranging from 5 40 1,320,000 1,190,000

INVESTMENT IN MARKETABLE SECURI

INVESTMENT IN MARKETABLE SECURITIES	6 Months Ended
	Dec. 31, 2022
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 transfer to its shareholders through income and/or capital gain. At December 31, 2022 and June 30, 2022, 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 Fair Investment Cost Unrealized Gain Unrealized Loss Unrealized Gain Value As of December 31, 2022 Corporate Equities $ 20,095,000 $ 3,267,000 $ (1,273,000 ) $ 1,994,000 $ 22,089,000 As of June 30, 2022 Corporate Equities $ 11,150,000 $ 1,474,000 $ (1,575,000 ) $ (101,000 ) $ 11,049,000 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 gains (losses) on marketable securities for the three and six months ended December 31, 2022 and 2021, respectively: SCHEDULE OF NET GAINS (LOSSES) ON MARKETABLE SECURITIES COMPRISING OF REALIZED AND UNREALIZED GAINS (LOSSES) For the three months ended December 31, 2022 2021 Realized loss on marketable securities, net $ (722,000 ) $ (813,000 ) Realized loss on marketable securities related to Comstock - (2,441,000 ) Unrealized gain on marketable securities, net 2,106,000 693,000 Unrealized gain on marketable securities related to Comstock - 210,000 Net gain (loss) on marketable securities $ 1,384,000 $ (2,351,000 ) For the six months ended December 31, 2022 2021 Realized (loss) gain on marketable securities, net $ (1,522,000 ) $ 1,580,000 Realized loss on marketable securities related to Comstock - (2,581,000 ) Unrealized gain (loss) on marketable securities, net 2,096,000 (3,518,000 ) Net gain (loss) on marketable securities $ 574,000 $ (4,519,000 )

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Dec. 31, 2022
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 December 31, 2022 June 30, 2022 As of Total - Level 1 Total - Level 1 Assets: Investment in marketable securities: REITs and real estate companies $ 7,007,000 $ 3,289,000 Financial services 2,067,000 1,755,000 Technology 1,949,000 815,000 Basic material 1,723,000 769,000 Healthcare 1,431,000 - Consumer cyclical 957,000 693,000 Communication services 897,000 2,787,000 Industrials 536,000 385,000 Energy 288,000 279,000 Utilities 230,000 - Other 5,004,000 277,000 Total $ 22,089,000 $ 11,049,000 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	6 Months Ended
	Dec. 31, 2022
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 December 31, 2022 June 30, 2022 Cash and cash equivalents $ 8,153,000 $ 14,367,000 Restricted cash 7,753,000 8,982,000 Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statement of cash flows $ 15,906,000 $ 23,349,000 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	6 Months Ended
	Dec. 31, 2022
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, 2022 for more detailed information on the Company’s stock-based compensation plans. During the six months ended December 31, 2022 the Company did no 4,000 The following table summarizes the stock options activity from July 1, 2021 to December 31, 2022: SCHEDULE OF STOCK OPTION ACTIVITY Number of Weighted Average Weighted Average Aggregate Shares Exercise Price Remaining Life Intrinsic Value Oustanding at July 1, 2021 341,195 $ 16.95 2.83 $ 8,890,000 Granted - - - - Exercised (90,000 ) 19.77 - - Forfeited - - - - Exchanged - - - - Outstanding at June 30, 2022 251,195 $ 15.95 2.60 $ 6,628,000 Exercisable at June 30, 2022 251,195 $ 15.95 2.60 $ 6,628,000 Vested at June 30, 2022 251,195 $ 15.95 2.60 $ 6,628,000 Oustanding at July 1, 2022 251,195 $ 15.95 2.60 $ 6,628,000 Granted - - - - Exercised - - - - Forfeited - - - - Exchanged - - - - Outstanding at December 31, 2022 251,195 $ 15.95 2.10 $ 7,801,000 Exercisable at December 31, 2022 251,195 $ 15.95 2.10 $ 7,801,000 Vested at December 31, 2022 251,195 $ 15.95 2.10 $ 7,801,000

SEGMENT INFORMATION

SEGMENT INFORMATION	6 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
SEGMENT INFORMATION	NOTE 10 – SEGMENT INFORMATION The Company operates in three three Information below represents reported segments for the three and six months ended December 31, 2022 and 2021. 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 December 31, 2022 Operations Operations Transactions Corporate Total Revenues $ 9,892,000 $ 3,980,000 $ - $ - $ 13,872,000 Segment operating expenses (8,726,000 ) (2,672,000 ) - (975,000 ) (12,373,000 ) Segment (loss) income 1,166,000 1,308,000 - (975,000 ) 1,499,000 Interest expense - mortgage (1,655,000 ) (505,000 ) - - (2,160,000 ) Depreciation and amortization expense (660,000 ) (642,000 ) - - (1,302,000 ) Gain on insurance recovery - 2,692,000 - - 2,692,000 Gain from investments - - 1,062,000 - 1,062,000 Gain (loss) from extinguishment of debt Income tax expense - - - (224,000 ) (224,000 ) Net (loss) income $ (1,149,000 ) $ 2,853,000 $ 1,062,000 $ (1,199,000 ) $ 1,567,000 Total assets $ 45,660,000 $ 48,525,000 $ 22,089,000 $ 16,025,000 132,299,000 As of and for the three months Hotel Real Estate Investment ended December 31, 2021 Operations Operations Transactions Corporate Total Revenues $ 6,348,000 $ 3,866,000 $ - $ - $ 10,214,000 Segment operating expenses (6,479,000 ) (2,276,000 ) - (576,000 ) (9,331,000 ) Segment (loss) income (131,000 ) 1,590,000 - (576,000 ) 883,000 Interest expense - mortgage (1,654,000 ) (628,000 ) - - (2,282,000 ) Depreciation and amortization expense (539,000 ) (596,000 ) - - (1,135,000 ) Gain (loss) from extinguishment of debt 2,000,000 (335,000 ) - - 1,665,000 Loss from investments - - (2,290,000 ) - (2,290,000 ) Income tax benefit - - - 916,000 916,000 Net (loss) income $ (324,000 ) $ 31,000 $ (2,290,000 ) $ 340,000 $ (2,243,000 ) Total assets $ 45,741,000 $ 47,173,000 $ 21,148,000 $ 19,581,000 $ 133,643,000 As of and for the six months Hotel Real Estate Investment ended December 31, 2022 Operations Operations Transactions Corporate Total Revenues $ 22,202,000 $ 8,058,000 $ - $ 30,260,000 Segment operating expenses (18,032,000 ) (4,863,000 ) - (1,674,000 ) (24,569,000 ) Segment (loss) income 4,170,000 3,195,000 - (1,674,000 ) 5,691,000 Interest expense - mortgage (3,287,000 ) (1,095,000 ) - - (4,382,000 ) Depreciation and amortization expense (1,311,000 ) (1,320,000 ) - - (2,631,000 ) Gain on insurance recovery - 2,692,000 - - 2,692,000 Gain from investments - - 162,000 - 162,000 Income tax expense - - - (166,000 ) (166,000 ) Net (loss) income $ (428,000 ) $ 3,472,000 $ 162,000 $ (1,840,000 ) $ 1,366,000 Total assets $ 45,660,000 $ 48,525,000 $ 22,089,000 $ 16,025,000 $ 132,299,000 As of and for the three months Hotel Real Estate Investment ended December 31, 2021 Operations Operations Transactions Corporate Total Revenues $ 13,153,000 $ 7,982,000 $ - $ - $ 21,135,000 Segment operating expenses (12,812,000 ) (4,350,000 ) - (1,386,000 ) (18,548,000 ) Segment income (loss) 341,000 3,632,000 - (1,386,000 ) 2,587,000 Interest expense - mortgage (3,315,000 ) (1,209,000 ) - - (4,524,000 ) Depreciation and amortization expense (1,093,000 ) (1,190,000 ) - - (2,283,000 ) Gain (loss) from extinguishment of debt 2,000,000 (335,000 ) - - 1,665,000 Loss from investments - - (4,625,000 ) - (4,625,000 ) Income tax benefit - - - 2,031,000 2,031,000 Net (loss) income $ (2,067,000 ) $ 898,000 $ (4,625,000 ) $ 645,000 $ (5,149,000 ) Total assets $ 45,741,000 $ 47,173,000 $ 21,148,000 $ 19,581,000 $ 133,643,000

RELATED PARTY AND OTHER FINANCI

RELATED PARTY AND OTHER FINANCING TRANSACTIONS	6 Months Ended
	Dec. 31, 2022
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 December 31, 2022 and June 30, 2022, respectively. SUMMARY OF RELATED PARTY AND OTHER NOTES PAYABLE As of December 31, 2022 June 30, 2022 Related party note payable - Hilton $ 2,217,000 $ 2,375,000 Related party note payable - Aimbridge 1,021,000 1,146,000 Total related party notes payable $ 3,238,000 $ 3,521,000 Note payable to Hilton (Franchisor) is a self-exhausting, interest free development incentive note which is reduced by approximately $ 316,000 annually through 2030 by Hilton if the Partnership is still a Franchisee with Hilton. On February 1, 2017, Operating entered into a 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 1,021,000 1,146,000 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, 2023 $ 283,000 2024 567,000 2025 567,000 2026 567,000 2027 463,000 Thereafter 791,000 Long term debt $ 3,238,000 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% 88,135,000 89,114,000 The mezzanine interest only loan had an interest rate of 9.75% per annum and a maturity date of January 1, 2024. 20,000,000 9.75% 7.25% January 1, 2024 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 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 July 31, 2021 the maturity date was extended to July 31, 2023 16,000,000 11,350,000 16,000,000 7,550,000 14,200,000 In July 2018, InterGroup obtained a revolving $ 5,000,000 The RLOC carries a variable interest rate of 30-day LIBOR plus 3%. Interest is paid on a monthly basis. In July 2019, the Company obtained a modification from CIBC which extended the maturity date of the RLOC from July 24, 2019 to July 23, 2020 2,000,000 5,000,000 2,000,000 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% 5,013,000 422,998 3.7 221,000 18,641 1,159,000 Five of the Portsmouth directors serve as directors of InterGroup. Director Jerold R. Babin, 90, passed away in October 2022. Steve Grunwald is a Director of Portsmouth and replaced Director Babin and became a Director of the Company. The Company’s director and Chairman of the Audit Committee, William J. Nance, serves as Comstock’s director and Chairman of the Audit and Finance, Compensation and Nominating and Governance Committees of Comstock. The Company’s Vice President Real Estate was elected President of Portsmouth in May 2021. 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 directs 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 – HOTEL	6 Months Ended
	Dec. 31, 2022
Payables and Accruals [Abstract]
ACCOUNTS PAYABLE AND OTHER LIABILITIES – HOTEL	NOTE 12 – ACCOUNTS PAYABLE AND OTHER LIABILITIES – HOTEL The following summarizes the balances of accounts payable and other liabilities – Hotel as of December 31, 2022 and June 30, 2022: SCHEDULE OF ACCOUNTS PAYABLE AND OTHER LIABILITIES - HOTEL As of December 31, 2022 June 30, 2022 Payroll and related accruals $ 2,334,000 $ 2,223,000 Trade payable 2,677,000 2,841,000 Withholding and other taxes payable 956,000 920,000 Advance deposits 1,869,000 493,000 Management fees payable 1,030,000 76,000 Lease payable 77,000 183,000 Security deposit 52,000 52,000 Mortgage interest payable - 513,000 Other 929,000 1,189,000 Total accounts payable and other liabilities - Hotel $ 9,924,000 $ 8,490,000

SUBSEQUENT EVENT

SUBSEQUENT EVENT	6 Months Ended
	Dec. 31, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENT	NOTE 13 – SUBSEQUENT EVENT The Company evaluated subsequent events through the date that the accompanying financial statements were issued, and has determined that no material subsequent events exist through the date of this filing.

BASIS OF PRESENTATION AND SIG_2

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Recently Issued and Adopted Accounting Pronouncements	Recently Issued and Adopted Accounting Pronouncements As of December 31, 2022, 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.

LIQUIDITY (Tables)

LIQUIDITY (Tables)	6 Months Ended
	Dec. 31, 2022
Liquidity
SCHEDULE OF MATERIAL FINANCIAL OBLIGATION	The following table provides a summary as of December 31, 2022, the Company’s material financial obligations which also includes interest payments. SCHEDULE OF MATERIAL FINANCIAL OBLIGATION 6 Months Year Year Year Year Total 2023 2024 2025 2026 2027 Thereafter Mortgage and subordinated notes payable $ 193,866,000 $ 6,357,000 $ 108,417,000 $ 3,966,000 $ 1,171,000 $ 3,301,000 $ 70,654,000 Related party notes payable 3,238,000 283,000 567,000 567,000 567,000 463,000 791,000 Interest 31,259,000 4,392,000 5,640,000 2,501,000 2,381,000 2,274,000 14,071,000 Total $ 228,363,000 $ 11,032,000 $ 114,624,000 $ 7,034,000 $ 4,119,000 $ 6,038,000 $ 85,516,000

REVENUE (Tables)

REVENUE (Tables)	6 Months Ended
	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
SCHEDULE OF DISAGGREGATION OF REVENUE	SCHEDULE OF DISAGGREGATION OF REVENUE For the three months ended December 31, 2022 2021 Hotel revenues: Hotel rooms $ 8,250,000 $ 5,218,000 Food and beverage 625,000 296,000 Garage 717,000 768,000 Other operating departments 300,000 66,000 Total hotel revenue $ 9,892,000 $ 6,348,000 For the six months ended December 31, 2022 2021 Hotel revenues: Hotel rooms $ 19,053,000 $ 10,780,000 Food and beverage 1,160,000 562,000 Garage 1,539,000 1,675,000 Other operating departments 450,000 136,000 Total hotel revenue $ 22,202,000 $ 13,153,000

INVESTMENT IN HOTEL, NET (Table

INVESTMENT IN HOTEL, NET (Tables)	6 Months Ended
	Dec. 31, 2022
Investment In Hotel Net
SCHEDULE OF INVESTMENT IN HOTEL, NET	Investment in hotel consisted of the following as of: SCHEDULE OF INVESTMENT IN HOTEL, NET Accumulated Net Book December 31, 2022 Cost Depreciation Value Land $ 2,738,000 $ - $ 2,738,000 Finance lease ROU assets 1,805,000 (1,002,000 ) 803,000 Furniture and equipment 35,543,000 (29,107,000 ) 6,436,000 Building and improvements 64,665,000 (36,004,000 ) 28,661,000 Investment in Hotel, net $ 104,751,000 $ (66,113,000 ) $ 38,638,000 Accumulated Net Book June 30, 2022 Cost Depreciation Value Land $ 2,738,000 $ - $ 2,738,000 Finance lease ROU assets 1,805,000 (922,000 ) 883,000 Furniture and equipment 32,860,000 (28,567,000 ) 4,293,000 Building and improvements 64,665,000 (35,312,000 ) 29,353,000 Investment in Hotel, net $ 102,068,000 $ (64,801,000 ) $ 37,267,000

INVESTMENT IN REAL ESTATE, NET

INVESTMENT IN REAL ESTATE, NET (Tables)	6 Months Ended
	Dec. 31, 2022
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 December 31, 2022 June 30, 2022 Land $ 22,998,000 $ 22,998,000 Buildings, improvements and equipment 72,752,000 70,933,000 Accumulated depreciation (48,693,000 ) (47,374,000 ) Investment in real estate, gross 47,057,000 46,557,000 Land held for development 1,468,000 1,468,000 Investment in real estate, net $ 48,525,000 $ 48,025,000

INVESTMENT IN MARKETABLE SECU_2

INVESTMENT IN MARKETABLE SECURITIES (Tables)	6 Months Ended
	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
SCHEDULE OF TRADING SECURITIES	At December 31, 2022 and June 30, 2022, 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 Fair Investment Cost Unrealized Gain Unrealized Loss Unrealized Gain Value As of December 31, 2022 Corporate Equities $ 20,095,000 $ 3,267,000 $ (1,273,000 ) $ 1,994,000 $ 22,089,000 As of June 30, 2022 Corporate Equities $ 11,150,000 $ 1,474,000 $ (1,575,000 ) $ (101,000 ) $ 11,049,000
SCHEDULE OF NET GAINS (LOSSES) 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 gains (losses) on marketable securities for the three and six months ended December 31, 2022 and 2021, respectively: SCHEDULE OF NET GAINS (LOSSES) ON MARKETABLE SECURITIES COMPRISING OF REALIZED AND UNREALIZED GAINS (LOSSES) For the three months ended December 31, 2022 2021 Realized loss on marketable securities, net $ (722,000 ) $ (813,000 ) Realized loss on marketable securities related to Comstock - (2,441,000 ) Unrealized gain on marketable securities, net 2,106,000 693,000 Unrealized gain on marketable securities related to Comstock - 210,000 Net gain (loss) on marketable securities $ 1,384,000 $ (2,351,000 ) For the six months ended December 31, 2022 2021 Realized (loss) gain on marketable securities, net $ (1,522,000 ) $ 1,580,000 Realized loss on marketable securities related to Comstock - (2,581,000 ) Unrealized gain (loss) on marketable securities, net 2,096,000 (3,518,000 ) Net gain (loss) on marketable securities $ 574,000 $ (4,519,000 )

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Dec. 31, 2022
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 December 31, 2022 June 30, 2022 As of Total - Level 1 Total - Level 1 Assets: Investment in marketable securities: REITs and real estate companies $ 7,007,000 $ 3,289,000 Financial services 2,067,000 1,755,000 Technology 1,949,000 815,000 Basic material 1,723,000 769,000 Healthcare 1,431,000 - Consumer cyclical 957,000 693,000 Communication services 897,000 2,787,000 Industrials 536,000 385,000 Energy 288,000 279,000 Utilities 230,000 - Other 5,004,000 277,000 Total $ 22,089,000 $ 11,049,000

CASH, CASH EQUIVALENTS AND RE_2

CASH, CASH EQUIVALENTS AND RESTRICTED CASH (Tables)	6 Months Ended
	Dec. 31, 2022
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 December 31, 2022 June 30, 2022 Cash and cash equivalents $ 8,153,000 $ 14,367,000 Restricted cash 7,753,000 8,982,000 Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statement of cash flows $ 15,906,000 $ 23,349,000

STOCK BASED COMPENSATION PLANS

STOCK BASED COMPENSATION PLANS (Tables)	6 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
SCHEDULE OF STOCK OPTION ACTIVITY	The following table summarizes the stock options activity from July 1, 2021 to December 31, 2022: SCHEDULE OF STOCK OPTION ACTIVITY Number of Weighted Average Weighted Average Aggregate Shares Exercise Price Remaining Life Intrinsic Value Oustanding at July 1, 2021 341,195 $ 16.95 2.83 $ 8,890,000 Granted - - - - Exercised (90,000 ) 19.77 - - Forfeited - - - - Exchanged - - - - Outstanding at June 30, 2022 251,195 $ 15.95 2.60 $ 6,628,000 Exercisable at June 30, 2022 251,195 $ 15.95 2.60 $ 6,628,000 Vested at June 30, 2022 251,195 $ 15.95 2.60 $ 6,628,000 Oustanding at July 1, 2022 251,195 $ 15.95 2.60 $ 6,628,000 Granted - - - - Exercised - - - - Forfeited - - - - Exchanged - - - - Outstanding at December 31, 2022 251,195 $ 15.95 2.10 $ 7,801,000 Exercisable at December 31, 2022 251,195 $ 15.95 2.10 $ 7,801,000 Vested at December 31, 2022 251,195 $ 15.95 2.10 $ 7,801,000

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	6 Months Ended
	Dec. 31, 2022
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 December 31, 2022 Operations Operations Transactions Corporate Total Revenues $ 9,892,000 $ 3,980,000 $ - $ - $ 13,872,000 Segment operating expenses (8,726,000 ) (2,672,000 ) - (975,000 ) (12,373,000 ) Segment (loss) income 1,166,000 1,308,000 - (975,000 ) 1,499,000 Interest expense - mortgage (1,655,000 ) (505,000 ) - - (2,160,000 ) Depreciation and amortization expense (660,000 ) (642,000 ) - - (1,302,000 ) Gain on insurance recovery - 2,692,000 - - 2,692,000 Gain from investments - - 1,062,000 - 1,062,000 Gain (loss) from extinguishment of debt Income tax expense - - - (224,000 ) (224,000 ) Net (loss) income $ (1,149,000 ) $ 2,853,000 $ 1,062,000 $ (1,199,000 ) $ 1,567,000 Total assets $ 45,660,000 $ 48,525,000 $ 22,089,000 $ 16,025,000 132,299,000 As of and for the three months Hotel Real Estate Investment ended December 31, 2021 Operations Operations Transactions Corporate Total Revenues $ 6,348,000 $ 3,866,000 $ - $ - $ 10,214,000 Segment operating expenses (6,479,000 ) (2,276,000 ) - (576,000 ) (9,331,000 ) Segment (loss) income (131,000 ) 1,590,000 - (576,000 ) 883,000 Interest expense - mortgage (1,654,000 ) (628,000 ) - - (2,282,000 ) Depreciation and amortization expense (539,000 ) (596,000 ) - - (1,135,000 ) Gain (loss) from extinguishment of debt 2,000,000 (335,000 ) - - 1,665,000 Loss from investments - - (2,290,000 ) - (2,290,000 ) Income tax benefit - - - 916,000 916,000 Net (loss) income $ (324,000 ) $ 31,000 $ (2,290,000 ) $ 340,000 $ (2,243,000 ) Total assets $ 45,741,000 $ 47,173,000 $ 21,148,000 $ 19,581,000 $ 133,643,000 As of and for the six months Hotel Real Estate Investment ended December 31, 2022 Operations Operations Transactions Corporate Total Revenues $ 22,202,000 $ 8,058,000 $ - $ 30,260,000 Segment operating expenses (18,032,000 ) (4,863,000 ) - (1,674,000 ) (24,569,000 ) Segment (loss) income 4,170,000 3,195,000 - (1,674,000 ) 5,691,000 Interest expense - mortgage (3,287,000 ) (1,095,000 ) - - (4,382,000 ) Depreciation and amortization expense (1,311,000 ) (1,320,000 ) - - (2,631,000 ) Gain on insurance recovery - 2,692,000 - - 2,692,000 Gain from investments - - 162,000 - 162,000 Income tax expense - - - (166,000 ) (166,000 ) Net (loss) income $ (428,000 ) $ 3,472,000 $ 162,000 $ (1,840,000 ) $ 1,366,000 Total assets $ 45,660,000 $ 48,525,000 $ 22,089,000 $ 16,025,000 $ 132,299,000 As of and for the three months Hotel Real Estate Investment ended December 31, 2021 Operations Operations Transactions Corporate Total Revenues $ 13,153,000 $ 7,982,000 $ - $ - $ 21,135,000 Segment operating expenses (12,812,000 ) (4,350,000 ) - (1,386,000 ) (18,548,000 ) Segment income (loss) 341,000 3,632,000 - (1,386,000 ) 2,587,000 Interest expense - mortgage (3,315,000 ) (1,209,000 ) - - (4,524,000 ) Depreciation and amortization expense (1,093,000 ) (1,190,000 ) - - (2,283,000 ) Gain (loss) from extinguishment of debt 2,000,000 (335,000 ) - - 1,665,000 Loss from investments - - (4,625,000 ) - (4,625,000 ) Income tax benefit - - - 2,031,000 2,031,000 Net (loss) income $ (2,067,000 ) $ 898,000 $ (4,625,000 ) $ 645,000 $ (5,149,000 ) Total assets $ 45,741,000 $ 47,173,000 $ 21,148,000 $ 19,581,000 $ 133,643,000

RELATED PARTY AND OTHER FINAN_2

RELATED PARTY AND OTHER FINANCING TRANSACTIONS (Tables)	6 Months Ended
	Dec. 31, 2022
Related Party Transactions [Abstract]
SUMMARY OF RELATED PARTY AND OTHER NOTES PAYABLE	The following summarizes the balances of related party and other notes payable as of December 31, 2022 and June 30, 2022, respectively. SUMMARY OF RELATED PARTY AND OTHER NOTES PAYABLE As of December 31, 2022 June 30, 2022 Related party note payable - Hilton $ 2,217,000 $ 2,375,000 Related party note payable - Aimbridge 1,021,000 1,146,000 Total related party notes payable $ 3,238,000 $ 3,521,000
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, 2023 $ 283,000 2024 567,000 2025 567,000 2026 567,000 2027 463,000 Thereafter 791,000 Long term debt $ 3,238,000

ACCOUNTS PAYABLE AND OTHER LI_2

ACCOUNTS PAYABLE AND OTHER LIABILITIES – HOTEL (Tables)	6 Months Ended
	Dec. 31, 2022
Payables and Accruals [Abstract]
SCHEDULE OF ACCOUNTS PAYABLE AND OTHER LIABILITIES - HOTEL	The following summarizes the balances of accounts payable and other liabilities – Hotel as of December 31, 2022 and June 30, 2022: SCHEDULE OF ACCOUNTS PAYABLE AND OTHER LIABILITIES - HOTEL As of December 31, 2022 June 30, 2022 Payroll and related accruals $ 2,334,000 $ 2,223,000 Trade payable 2,677,000 2,841,000 Withholding and other taxes payable 956,000 920,000 Advance deposits 1,869,000 493,000 Management fees payable 1,030,000 76,000 Lease payable 77,000 183,000 Security deposit 52,000 52,000 Mortgage interest payable - 513,000 Other 929,000 1,189,000 Total accounts payable and other liabilities - Hotel $ 9,924,000 $ 8,490,000

BASIS OF PRESENTATION AND SIG_3

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	Jul. 15, 2021	Dec. 31, 2022	Jun. 30, 2022	Feb. 19, 2021
Finance Lease [Member]
Accounts Payable and Other Accrued Liabilities			$ 183,000
Santa Fe Financial Corporation [Member]
Ownership interest percentage				83.70%
Portsmouth Inc [Member]
Ownership interest percentage		75.60%		68.80%
Non-controlling interest percentage	0.70%
Limited liability interest percentage	100%
Portsmouth Inc [Member] | John V. Winfield [Member]
Non-controlling interest percentage		2.50%

SCHEDULE OF MATERIAL FINANCIAL

SCHEDULE OF MATERIAL FINANCIAL OBLIGATION (Details)	Dec. 31, 2022 USD ($)
Debt Instrument [Line Items]
Long-term Debt	$ 228,363,000
6 Months 2023	11,032,000
Year 2024	114,624,000
Year 2025	7,034,000
Year 2026	4,119,000
Year 2027	6,038,000
Thereafter	85,516,000
Mortgage and Subordinated Notes Payable [Member]
Debt Instrument [Line Items]
Long-term Debt	193,866,000
6 Months 2023	6,357,000
Year 2024	108,417,000
Year 2025	3,966,000
Year 2026	1,171,000
Year 2027	3,301,000
Thereafter	70,654,000
Related Party Notes Payable [Member]
Debt Instrument [Line Items]
Long-term Debt	3,238,000
6 Months 2023	283,000
Year 2024	567,000
Year 2025	567,000
Year 2026	567,000
Year 2027	463,000
Thereafter	791,000
Interest [Member]
Debt Instrument [Line Items]
Long-term Debt	31,259,000
6 Months 2023	4,392,000
Year 2024	5,640,000
Year 2025	2,501,000
Year 2026	2,381,000
Year 2027	2,274,000
Thereafter	$ 14,071,000

LIQUIDITY (Details Narrative)

LIQUIDITY (Details Narrative) - USD ($)		6 Months Ended		12 Months Ended
	Dec. 16, 2020	Dec. 31, 2022	Dec. 31, 2021	Jun. 30, 2022	Jul. 31, 2022	Sep. 07, 2021
Net cash (used in) provided by operating activities		$ 2,509,000	$ 4,592,000
Cash and cash equivalents		8,153,000		$ 14,367,000
Restricted cash		7,753,000		8,982,000
Marketable securities		$ 15,526,000		10,110,000
Maturity date, description		The mezzanine interest only loan had an interest rate of 9.75% per annum and a maturity date of January 1, 2024.
Proceeds from notes payable				16,683,000
CIBC Bank USA [Member] | Uncollateralized [Member]
Line of credit, available to be drawn		$ 2,000,000			$ 2,000,000
Revolving Credit Facility [Member] | CIBC Bank USA [Member] | Uncollateralized [Member]
Revolving line of credit amount				5,000,000	$ 2,000,000
Multi-family and Commercial Real Estate [Member]
Payments for capital improvements		1,820,000
Portsmouth Inc [Member] | Guest Room [Member]
Payments for capital improvements		$ 2,682,000
Justice Investors Limited Partnership and InterGroup [Member] | Loan Modification Agreement [Member]
Debt instrument, face amount	$ 10,000,000		16,000,000			$ 16,000,000
Maturity date	Jul. 31, 2021
Maturity date, description		the maturity date was extended to July 31, 2023
Current loan balance		$ 14,200,000	$ 11,350,000	14,200,000
Proceeds from related party debt				$ 7,550,000

SCHEDULE OF DISAGGREGATION OF R

SCHEDULE OF DISAGGREGATION OF REVENUE (Details) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Total hotel revenue	$ 13,872,000	$ 10,214,000	$ 30,260,000	$ 21,135,000
Hotel Rooms [Member]
Disaggregation of Revenue [Line Items]
Total hotel revenue	8,250,000	5,218,000	19,053,000	10,780,000
Food and Beverage [Member]
Disaggregation of Revenue [Line Items]
Total hotel revenue	625,000	296,000	1,160,000	562,000
Garage [Member]
Disaggregation of Revenue [Line Items]
Total hotel revenue	717,000	768,000	1,539,000	1,675,000
Other Operating Departments [Member]
Disaggregation of Revenue [Line Items]
Total hotel revenue	300,000	66,000	450,000	136,000
Hotel [Member]
Disaggregation of Revenue [Line Items]
Total hotel revenue	$ 9,892,000	$ 6,348,000	$ 22,202,000	$ 13,153,000

REVENUE (Details Narrative)

REVENUE (Details Narrative) - USD ($)	6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Jul. 01, 2022	Jul. 01, 2021
Revenue from Contract with Customer [Abstract]
Contract with customer, liability	$ 1,828,000	$ 445,000	$ 493,000	$ 161,000
Contract with customer liability recognized as revenue	$ 493,000	$ 161,000

SCHEDULE OF INVESTMENT IN HOTEL

SCHEDULE OF INVESTMENT IN HOTEL, NET (Details) - USD ($)	Dec. 31, 2022	Jun. 30, 2022
Property, Plant and Equipment [Line Items]
Cost	$ 104,751,000	$ 102,068,000
Accumulated depreciation	(66,113,000)	(64,801,000)
Net book value	38,638,000	37,267,000
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	(1,002,000)	(922,000)
Net book value	803,000	883,000
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Cost	35,543,000	32,860,000
Accumulated depreciation	(29,107,000)	(28,567,000)
Net book value	6,436,000	4,293,000
Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Cost	64,665,000	64,665,000
Accumulated depreciation	(36,004,000)	(35,312,000)
Net book value	$ 28,661,000	$ 29,353,000

INVESTMENT IN HOTEL, NET (Detai

INVESTMENT IN HOTEL, NET (Details Narrative) - USD ($)	6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Hotel [Member]
Depreciation expense	$ 1,311,000	$ 1,093,000
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 ($)	Dec. 31, 2022	Jun. 30, 2022
Real Estate [Abstract]
Land	$ 22,998,000	$ 22,998,000
Buildings, improvements and equipment	72,752,000	70,933,000
Accumulated depreciation	(48,693,000)	(47,374,000)
Investment in real estate, gross	47,057,000	46,557,000
Land held for development	1,468,000	1,468,000
Investment in real estate, net	$ 48,525,000	$ 48,025,000

INVESTMENT IN REAL ESTATE, NE_2

INVESTMENT IN REAL ESTATE, NET (Details Narrative) - USD ($)	6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Real Estate [Member]
Real Estate [Line Items]
Depreciation expense	$ 1,320,000	$ 1,190,000
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) - USD ($)	3 Months Ended		6 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Jun. 30, 2022
Financing Receivable, Past Due [Line Items]
Gross unrealized gain		$ 210,000
Equity Securities [Member]
Financing Receivable, Past Due [Line Items]
Cost	20,095,000		$ 20,095,000	$ 11,150,000
Gross unrealized gain			3,267,000	1,474,000
Gross unrealized loss			(1,273,000)	(1,575,000)
Net unrealized loss			1,994,000	(101,000)
Fair value	$ 22,089,000		$ 22,089,000	$ 11,049,000

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		6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Realized (loss) gain on marketable securities, net	$ (722,000)	$ (813,000)	$ (1,522,000)	$ 1,580,000
Realized loss on marketable securities related to Comstock		(2,441,000)		(2,581,000)
Unrealized gain (loss) on marketable securities, net	2,106,000	693,000	2,096,000	(3,518,000)
Unrealized gain on marketable securities related to Comstock		210,000
Net gain (loss) on marketable securities	$ 1,384,000	$ (2,351,000)	$ 574,000	$ (4,519,000)

SCHEDULE OF FAIR VALUE MEASUREM

SCHEDULE OF FAIR VALUE MEASUREMENT ON RECURRING BASIS (Details) - USD ($)	Dec. 31, 2022	Jun. 30, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	$ 22,089,000	$ 11,049,000
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	22,089,000	11,049,000
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	7,007,000	3,289,000
Fair Value, Inputs, Level 1 [Member] | Financial Services [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	2,067,000	1,755,000
Fair Value, Inputs, Level 1 [Member] | Technology [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	1,949,000	815,000
Fair Value, Inputs, Level 1 [Member] | Basic Material [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	1,723,000	769,000
Fair Value, Inputs, Level 1 [Member] | Health Care [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	1,431,000
Fair Value, Inputs, Level 1 [Member] | Consumer Cyclical [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	957,000	693,000
Fair Value, Inputs, Level 1 [Member] | Communication Services [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	897,000	2,787,000
Fair Value, Inputs, Level 1 [Member] | Industrials [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	536,000	385,000
Fair Value, Inputs, Level 1 [Member] | Energy [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	288,000	279,000
Fair Value, Inputs, Level 1 [Member] | Utilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	230,000
Fair Value, Inputs, Level 1 [Member] | Other [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	$ 5,004,000	$ 277,000

SCHEDULE OF CASH, CASH EQUIVALE

SCHEDULE OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH (Details) - USD ($)	Dec. 31, 2022	Jun. 30, 2022
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 8,153,000	$ 14,367,000
Restricted cash	7,753,000	8,982,000
Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statement of cash flows	$ 15,906,000	$ 23,349,000

SCHEDULE OF STOCK OPTION ACTIVI

SCHEDULE OF STOCK OPTION ACTIVITY (Details) - USD ($)	6 Months Ended	12 Months Ended
	Dec. 31, 2022	Jun. 30, 2022	Jun. 30, 2021
Share-Based Payment Arrangement [Abstract]
Number of shares, outstanding, beginning balance	251,195	341,195
Weighted average exercise price, outstanding, beginning balance	$ 15.95	$ 16.95
Weighted average remaining life, outstanding, ending balance	2 years 1 month 6 days	2 years 7 months 6 days	2 years 9 months 29 days
Aggregate intrinsic value, outstanding, beginning balance	$ 6,628,000	$ 8,890,000
Number of shares, granted
Weighted average exercise price, granted
Number of shares, exercised		(90,000)
Weighted average exercise price, exercised		$ 19.77
Number of shares, forfeited
Weighted average exercise price, forfeited
Number of shares, exchanged
Weighted average exercise price, exchanged
Number of shares, outstanding, ending balance	251,195	251,195	341,195
Weighted average exercise price, outstanding, ending balance	$ 15.95	$ 15.95	$ 16.95
Aggregate intrinsic value, outstanding, ending balance	$ 7,801,000	$ 6,628,000	$ 8,890,000
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	2 years 1 month 6 days	2 years 7 months 6 days
Aggregate intrinsic value, exercisable, ending balance	$ 7,801,000	$ 6,628,000
Number of shares, vested and expected to vest, ending balance	251,195	251,195
Weighted average exercise price, vested and expected to vest, ending balance	$ 15.95	$ 15.95
Weighted average remaining life, vested and expected to vest, ending balance	2 years 1 month 6 days	2 years 7 months 6 days
Aggregate intrinsic value, vested and expected to vest, ending balance	$ 7,801,000	$ 6,628,000

STOCK BASED COMPENSATION PLAN_2

STOCK BASED COMPENSATION PLANS (Details Narrative) - USD ($)	6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Share-Based Payment Arrangement [Abstract]
Stock compensation expense		$ 4,000

SCHEDULE OF SEGMENT REPORTING I

SCHEDULE OF SEGMENT REPORTING INFORMATION (Details) - USD ($)	3 Months Ended				6 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2022	Dec. 31, 2021	Jun. 30, 2022
Segment Reporting Information [Line Items]
Revenues	$ 13,872,000		$ 10,214,000		$ 30,260,000	$ 21,135,000
Segment operating expenses	(13,675,000)		(10,466,000)		(27,200,000)	(20,831,000)
Segment income (loss)	197,000		(252,000)		3,060,000	304,000
Interest expense - mortgage	(2,160,000)		(2,282,000)		(4,382,000)	(4,524,000)
Depreciation and amortization expense	(1,302,000)		(1,135,000)		(2,631,000)	(2,283,000)
Gain on insurance recovery	2,692,000				2,692,000
Gain (loss) from extinguishment of debt			1,665,000			1,665,000
Income tax benefit	224,000		(916,000)		166,000	(2,031,000)
Net (loss) income	1,567,000	$ (201,000)	(2,243,000)	$ (2,906,000)	1,366,000	(5,149,000)
Total assets	132,299,000				132,299,000		$ 126,046,000
Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	13,872,000		10,214,000		30,260,000	21,135,000
Segment operating expenses	(12,373,000)		(9,331,000)		(24,569,000)	(18,548,000)
Segment income (loss)	1,499,000		883,000		5,691,000	2,587,000
Interest expense - mortgage	(2,160,000)		(2,282,000)		(4,382,000)	(4,524,000)
Depreciation and amortization expense	(1,302,000)		(1,135,000)		(2,631,000)	(2,283,000)
Gain on insurance recovery	2,692,000				2,692,000
Loss from investments	1,062,000		(2,290,000)		162,000	(4,625,000)
Gain (loss) from extinguishment of debt			1,665,000			1,665,000
Income tax benefit	(224,000)		916,000		(166,000)	2,031,000
Net (loss) income	1,567,000		(2,243,000)		1,366,000	(5,149,000)
Total assets	132,299,000		133,643,000		132,299,000	133,643,000
Hotel Operations [Member]
Segment Reporting Information [Line Items]
Revenues	9,892,000		6,348,000		22,202,000	13,153,000
Segment operating expenses	(8,726,000)		(6,479,000)		(18,032,000)	(12,812,000)
Segment income (loss)	1,166,000		(131,000)		4,170,000	341,000
Interest expense - mortgage	(1,655,000)		(1,654,000)		(3,287,000)	(3,315,000)
Depreciation and amortization expense	(660,000)		(539,000)		(1,311,000)	(1,093,000)
Gain on insurance recovery
Loss from investments
Gain (loss) from extinguishment of debt			2,000,000			2,000,000
Income tax benefit
Net (loss) income	(1,149,000)		(324,000)		(428,000)	(2,067,000)
Total assets	45,660,000		45,741,000		45,660,000	45,741,000
Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Revenues	3,980,000		3,866,000		8,058,000	7,982,000
Segment operating expenses	(2,672,000)		(2,276,000)		(4,863,000)	(4,350,000)
Segment income (loss)	1,308,000		1,590,000		3,195,000	3,632,000
Interest expense - mortgage	(505,000)		(628,000)		(1,095,000)	(1,209,000)
Depreciation and amortization expense	(642,000)		(596,000)		(1,320,000)	(1,190,000)
Gain on insurance recovery	2,692,000				2,692,000
Loss from investments
Gain (loss) from extinguishment of debt			(335,000)			(335,000)
Income tax benefit
Net (loss) income	2,853,000		31,000		3,472,000	898,000
Total assets	48,525,000		47,173,000		48,525,000	47,173,000
Investment Transactions [Member]
Segment Reporting Information [Line Items]
Revenues
Segment operating expenses
Segment income (loss)
Interest expense - mortgage
Depreciation and amortization expense
Gain on insurance recovery
Loss from investments	1,062,000		(2,290,000)		162,000	(4,625,000)
Gain (loss) from extinguishment of debt
Income tax benefit
Net (loss) income	1,062,000		(2,290,000)		162,000	(4,625,000)
Total assets	22,089,000		21,148,000		22,089,000	21,148,000
Corporate Segment [Member]
Segment Reporting Information [Line Items]
Revenues
Segment operating expenses	(975,000)		(576,000)		(1,674,000)	(1,386,000)
Segment income (loss)	(975,000)		(576,000)		(1,674,000)	(1,386,000)
Interest expense - mortgage
Depreciation and amortization expense
Gain on insurance recovery
Loss from investments
Gain (loss) from extinguishment of debt
Income tax benefit	(224,000)		916,000		(166,000)	2,031,000
Net (loss) income	(1,199,000)		340,000		(1,840,000)	645,000
Total assets	$ 16,025,000		$ 19,581,000		$ 16,025,000	$ 19,581,000

SEGMENT INFORMATION (Details Na

SEGMENT INFORMATION (Details Narrative)	6 Months Ended
	Dec. 31, 2022 Segments
Segment Reporting [Abstract]
Number of reportable segments	3
Number of operating segments	3

SUMMARY OF RELATED PARTY AND OT

SUMMARY OF RELATED PARTY AND OTHER NOTES PAYABLE (Details) - USD ($)	Dec. 31, 2022	Jun. 30, 2022
Related Party Transaction [Line Items]
Total related party notes payable	$ 3,238,000	$ 3,521,000
Note Payable Hilton [Member]
Related Party Transaction [Line Items]
Total related party notes payable	2,217,000	2,375,000
Note Payable Aimbridge [Member]
Related Party Transaction [Line Items]
Total related party notes payable	$ 1,021,000	$ 1,146,000

SCHEDULE OF FUTURE MINIMUM PRIN

SCHEDULE OF FUTURE MINIMUM PRINCIPAL PAYMENTS (Details)	Dec. 31, 2022 USD ($)
Debt Instrument [Line Items]
2023	$ 11,032,000
2024	114,624,000
2025	7,034,000
2026	4,119,000
2027	6,038,000
Thereafter	85,516,000
Long term debt	228,363,000
Related Party Debt and Other Notes Payable [Member]
Debt Instrument [Line Items]
2023	283,000
2024	567,000
2025	567,000
2026	567,000
2027	463,000
Thereafter	791,000
Long term debt	$ 3,238,000

RELATED PARTY AND OTHER FINAN_3

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

1 Months Ended

6 Months Ended

12 Months Ended

Dec. 16, 2020

Jul. 31, 2019

Feb. 03, 2017

Jun. 30, 2022

Mar. 31, 2021

Jul. 31, 2018

Dec. 31, 2022

Jun. 30, 2022

Jul. 31, 2022

Dec. 31, 2021

Sep. 07, 2021

May 11, 2017

Dec. 31, 2013

Related Party Transaction [Line Items]

Outstanding loan principal amount

$ 89,114,000

$ 88,135,000

$ 89,114,000

Maturity date, description

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

Santa Fe [Member] | Management [Member]

Related Party Transaction [Line Items]

Equity investment interest

3.70%

Parent Company [Member] | CIBC Bank [Member]

Related Party Transaction [Line Items]

Revolving line of credit

$ 5,000,000

$ 2,000,000

Variable interest rate LIBOR

The RLOC carries a variable interest rate of 30-day LIBOR plus 3%. Interest is paid on a monthly basis. In July 2019, the Company obtained a modification from CIBC which extended the maturity date of the RLOC from July 24, 2019 to July 23, 2020

Line of credit facility, current borrowing capacity

$ 2,000,000

Santa Fe [Member]

Related Party Transaction [Line Items]

Cash received in liquidation

$ 221,000

Shares received in liquidation

18,641

Proceeds from other investments

1,159,000

Santa Fe [Member] | Ownership [Member]

Related Party Transaction [Line Items]

Equity investment interest

83.70%

Cash received in liquidation

$ 5,013,000

Shares received in liquidation

422,998

Hotel Management Agreement [Member]

Related Party Transaction [Line Items]

Debt instrument, payment terms

10 years

Key money incentive fee

$ 2,000,000

Debt instrument, convertible, remaining discount amortization period

8 years

Unamortized debt issuance expense

1,146,000

$ 1,021,000

1,146,000

Loan Modification Agreement [Member] | Justice Investors Limited Partnership and InterGroup [Member]

Related Party Transaction [Line Items]

Maturity date, description

the maturity date was extended to July 31, 2023

Debt instrument, face amount

$ 10,000,000

$ 16,000,000

$ 16,000,000

Maturity date

Jul. 31, 2021

Current loan balance

$ 14,200,000

$ 14,200,000

14,200,000

$ 11,350,000

Proceeds from related party debt

$ 7,550,000

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]

Accounts payable to related party

$ 97,000,000

$ 97,000,000

Debt instrument, interest rate, stated percentage

5.275%

Mezzanine Loan [Member]

Related Party Transaction [Line Items]

Accounts payable to related party

$ 20,000,000

$ 20,000,000

New Mezzanine Loan [Member]

Related Party Transaction [Line Items]

Debt instrument, interest rate, stated percentage

7.25%

Maturity date

Jan. 01, 2024

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

Related Party Transaction [Line Items]

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 - HOTEL (Details) - Hotel [Member] - USD ($)	Dec. 31, 2022	Jun. 30, 2022
Payroll and related accruals	$ 2,334,000	$ 2,223,000
Trade payable	2,677,000	2,841,000
Withholding and other taxes payable	956,000	920,000
Advance deposits	1,869,000	493,000
Management fees payable	1,030,000	76,000
Lease payable	77,000	183,000
Security deposit	52,000	52,000
Mortgage interest payable		513,000
Other	929,000	1,189,000
Total accounts payable and other liabilities - Hotel	$ 9,924,000	$ 8,490,000