Santa Fe Financial (SFEF) 10-Q 3 May 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Mar. 31, 2019	May 02, 2019
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Entity Registrant Name	SANTA FE FINANCIAL CORP
Entity Central Index Key	0000086759
Current Fiscal Year End Date	--06-30
Entity Filer Category	Non-accelerated Filer
Trading Symbol	SFEF
Entity Common Stock, Shares Outstanding		1,241,810
Entity Emerging Growth Company	false
Entity Small Business	true

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Mar. 31, 2019	Jun. 30, 2018
ASSETS
Investment in hotel, net	$ 36,195,000	$ 37,359,000
Investment in real estate, net	4,888,000	4,961,000
Investment in marketable securities	3,316,000	4,439,000
Other investments, net	351,000	474,000
Cash and cash equivalents	9,127,000	7,647,000
Restricted cash	7,952,000	7,119,000
Accounts receivable - hotel, net	612,000	1,799,000
Other assets, net	1,700,000	1,546,000
Deferred tax assets	4,390,000	5,159,000
Total assets	68,531,000	70,503,000
Liabilities:
Accounts payable and other liabilities	13,286,000	15,017,000
Due to securities broker	946,000	1,068,000
Obligations for securities sold	438,000	919,000
Related party and other notes payable	8,363,000	8,641,000
Capital leases	1,256,000	1,355,000
Mortgage notes payable - real estate	3,318,000	3,188,000
Mortgage notes payable - hotel, net	113,538,000	114,372,000
Total liabilities	141,145,000	144,560,000
Shareholders' deficit:
Common stock - par value $.10 per share; Authorized - 2,000,000; Issued 1,339,638 and outstanding 1,241,810 as of March 31, 2019 and June 30, 2018	134,000	134,000
Additional paid-in capital	8,808,000	8,808,000
Accumulated deficit	(56,976,000)	(57,442,000)
Treasury stock, at cost, 97,828 shares	(951,000)	(951,000)
Total Santa Fe shareholders' deficit	(48,985,000)	(49,451,000)
Noncontrolling interest	(23,629,000)	(24,606,000)
Total shareholders' deficit	(72,614,000)	(74,057,000)
Total liabilities and shareholders' deficit	$ 68,531,000	$ 70,503,000

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS [Parenthetical] - $ / shares	Mar. 31, 2019	Jun. 30, 2018
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common Stock, Shares Authorized	2,000,000	2,000,000
Common Stock, Shares, Issued	1,339,638	1,339,638
Common Stock, Shares, Outstanding	1,241,810	1,241,810
Treasury Stock, Shares	97,828	97,828

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Revenues:
Total revenues	$ 15,550,000	$ 14,430,000	$ 45,518,000	$ 42,225,000
Costs and operating expenses:
Hotel operating expenses	(11,378,000)	(10,573,000)	(33,424,000)	(31,905,000)
Real estate operating expenses	(52,000)	(55,000)	(170,000)	(148,000)
Depreciation and amortization expense	(613,000)	(670,000)	(1,902,000)	(2,052,000)
General and administrative expense	(364,000)	(448,000)	(843,000)	(1,077,000)
Total costs and operating expenses	(12,407,000)	(11,746,000)	(36,339,000)	(35,182,000)
Income from operations	3,143,000	2,684,000	9,179,000	7,043,000
Other income (expense):
Interest expense - mortgage	(1,838,000)	(1,813,000)	(5,562,000)	(5,564,000)
Interest expense - related party	(129,000)	(126,000)	(375,000)	(387,000)
Loss on disposal of assets	(398,000)	0	(398,000)	0
Net (loss) gain on marketable securities	67,000	170,000	(330,000)	268,000
Net gain (loss) on marketable securities - Comstock	207,000	(376,000)	(134,000)	(1,756,000)
Unrealized loss on other investments	0	(21,000)	0	(21,000)
Impairment loss on other investments	(61,000)	0	(61,000)	(124,000)
Dividend and interest income	112,000	22,000	150,000	53,000
Trading and margin interest expense	(77,000)	(78,000)	(257,000)	(253,000)
Total other expense, net	(2,117,000)	(2,222,000)	(6,967,000)	(7,784,000)
Net income (loss) before income taxes	1,026,000	462,000	2,212,000	(741,000)
Income tax (expense) benefit	(280,000)	101,000	(769,000)	(3,063,000)
Net income (loss)	746,000	563,000	1,443,000	(3,804,000)
Less:  Net (income) loss attributable to the noncontrolling interest	(320,000)	(286,000)	(977,000)	795,000
Net income (loss) attributable to Santa Fe	$ 426,000	$ 277,000	$ 466,000	$ (3,009,000)
Basic and diluted net income (loss) per share attributable to Santa Fe	$ 0.34	$ 0.22	$ 0.38	$ (2.42)
Weighted average number of common shares outstanding - basic and diluted	1,241,810	1,241,810	1,241,810	1,241,810
Hotel [Member]
Revenues:
Total revenues	$ 15,469,000	$ 14,344,000	$ 45,276,000	$ 41,968,000
Real Estate [Member]
Revenues:
Total revenues	$ 81,000	$ 86,000	$ 242,000	$ 257,000

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' DEFICIT - USD ($)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Treasury Stock [Member]	Total Santa Fe Shareholders' Deficit	Noncontrolling Interest [Member]
Balance at Jun. 30, 2017	$ (77,475,000)	$ 134,000	$ 8,808,000	$ (58,938,000)	$ (951,000)	$ (50,947,000)	$ (26,528,000)
Balance (in shares) at Jun. 30, 2017		1,339,638
Net (loss) income	85,000	$ 0	0	(84,000)	0	(84,000)	169,000
Balance at Sep. 30, 2017	(77,390,000)	$ 134,000	8,808,000	(59,022,000)	(951,000)	(51,031,000)	(26,359,000)
Balance (in shares) at Sep. 30, 2017		1,339,638
Balance at Jun. 30, 2017	(77,475,000)	$ 134,000	8,808,000	(58,938,000)	(951,000)	(50,947,000)	(26,528,000)
Balance (in shares) at Jun. 30, 2017		1,339,638
Net (loss) income	(3,804,000)
Balance at Mar. 31, 2018	(81,279,000)	$ 134,000	8,808,000	(61,947,000)	(951,000)	(53,956,000)	(27,323,000)
Balance (in shares) at Mar. 31, 2018		1,339,638
Balance at Sep. 30, 2017	(77,390,000)	$ 134,000	8,808,000	(59,022,000)	(951,000)	(51,031,000)	(26,359,000)
Balance (in shares) at Sep. 30, 2017		1,339,638
Net (loss) income	(4,452,000)	$ 0	0	(3,202,000)	0	(3,202,000)	(1,250,000)
Balance at Dec. 31, 2017	(81,842,000)	$ 134,000	8,808,000	(62,224,000)	(951,000)	(54,233,000)	(27,609,000)
Balance (in shares) at Dec. 31, 2017		1,339,638
Net (loss) income	563,000	$ 0	0	277,000	0	277,000	286,000
Balance at Mar. 31, 2018	(81,279,000)	$ 134,000	8,808,000	(61,947,000)	(951,000)	(53,956,000)	(27,323,000)
Balance (in shares) at Mar. 31, 2018		1,339,638
Balance at Jun. 30, 2018	(74,057,000)	$ 134,000	8,808,000	(57,442,000)	(951,000)	(49,451,000)	(24,606,000)
Balance (in shares) at Jun. 30, 2018		1,339,638
Net (loss) income	1,067,000	$ 0	0	566,000	0	566,000	501,000
Balance at Sep. 30, 2018	(72,990,000)	$ 134,000	8,808,000	(56,876,000)	(951,000)	(48,885,000)	(24,105,000)
Balance (in shares) at Sep. 30, 2018		1,339,638
Balance at Jun. 30, 2018	(74,057,000)	$ 134,000	8,808,000	(57,442,000)	(951,000)	(49,451,000)	(24,606,000)
Balance (in shares) at Jun. 30, 2018		1,339,638
Net (loss) income	1,443,000
Balance at Mar. 31, 2019	(72,614,000)	$ 134,000	8,808,000	(56,976,000)	(951,000)	(48,985,000)	(23,629,000)
Balance (in shares) at Mar. 31, 2019		1,339,638
Balance at Sep. 30, 2018	(72,990,000)	$ 134,000	8,808,000	(56,876,000)	(951,000)	(48,885,000)	(24,105,000)
Balance (in shares) at Sep. 30, 2018		1,339,638
Net (loss) income	(370,000)	$ 0	0	(526,000)	0	(526,000)	156,000
Balance at Dec. 31, 2018	(73,360,000)	$ 134,000	8,808,000	(57,402,000)	(951,000)	(49,411,000)	(23,949,000)
Balance (in shares) at Dec. 31, 2018		1,339,638
Net (loss) income	746,000	$ 0	0	426,000	0	426,000	320,000
Balance at Mar. 31, 2019	$ (72,614,000)	$ 134,000	$ 8,808,000	$ (56,976,000)	$ (951,000)	$ (48,985,000)	$ (23,629,000)
Balance (in shares) at Mar. 31, 2019		1,339,638

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash flows from operating activities:
Net income (loss)	$ 1,443,000	$ (3,804,000)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Net unrealized loss on marketable securities	665,000	1,667,000
Unrealized loss on other investments	0	21,000
Impairment loss on other investments	61,000	124,000
Loss on disposal of assets	398,000	0
Deferred taxes	769,000	3,063,000
Depreciation and amortization	1,770,000	2,091,000
Changes in assets and liabilities:
Investment in marketable securities	458,000	1,448,000
Accounts receivable	1,187,000	478,000
Other assets	(154,000)	182,000
Accounts payable and other liabilities	(1,731,000)	(660,000)
Due to securities broker	(122,000)	(753,000)
Obligations for securities sold	(481,000)	(816,000)
Net cash provided by operating activities	4,263,000	3,041,000
Cash flows from investing activities:
Payments for hotel and real estate investments	(992,000)	(243,000)
Proceeds from other investments	62,000	41,000
Net cash used in investing activities	(930,000)	(202,000)
Cash flows from financing activities:
Net payments of related party and other notes payable	(1,020,000)	(1,273,000)
Net cash used in financing activities	(1,020,000)	(1,273,000)
Net increase in cash and cash equivalents:	2,313,000	1,566,000
Cash and cash equivalents at the beginning of the period	7,647,000	7,270,000
Cash and cash equivalents at the end of the period	9,127,000	8,836,000
Supplemental information:
Interest paid	6,013,000	6,075,000
Taxes paid	47,000	10,000
Non-cash transaction:
Additions to Hotel equipment through capital lease	$ 71,000	$ 0

BASIS OF PRESENTATION AND SIGNI

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies [Text Block]	NOTE 1 – BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES The condensed consolidated financial statements included herein have been prepared by Santa Fe Financial Corporation (“Santa Fe” 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 Santa Fe and the notes therein included in the Company's Annual Report on Form 10-K for the year ended June 30, 2018. The March 31, 2019 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, 2018. The results of operations for the nine months ended March 31, 2019 are not necessarily indicative of results to be expected for the full fiscal year ending June 30, 2019. Santa Fe Financial owns approximately 68.8% of the outstanding common shares of Portsmouth Square, Inc. (“Portsmouth”), a public company. Santa Fe is an 81.9%-owned subsidiary of The InterGroup Corporation (“InterGroup”), a public company. InterGroup also directly owns approximately 13.4% of the common stock of Portsmouth. 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”). Portsmouth controls 93.1% of the voting interest in Justice and is the sole general partner. The financial statements of Justice are consolidated with those of Portsmouth. Justice, through its subsidiaries Justice Operating Company, LLC (“Operating”), Justice Mezzanine Company, LLC (“Mezzanine”) and Kearny Street Parking, LLC (“Parking”) owns 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 and Parking are both wholly-owned subsidiaries 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 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. The Company began managing the parking garage that is part of the Hotel in-house in 2016. Effective February 3, 2017, Interstate took over the management of the parking garage along with the Hotel. 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 is not taxed on its non-controlling interest in the Hotel. The income tax expense during the nine months ended March 31, 2019 and 2018 represent the income tax effect on the Company’s pretax income (loss) which includes its share in the net income of the Hotel. For the nine months ended March 31, 2018, a provisional net charge of $3,313,000 was included in the income tax expense as a result of reducing our deferred tax asset to the lower federal base rate of 21%. Financial Condition and Liquidity The Company’s cash flows are primarily generated from its Hotel operations. The Company also receives cash generated from the investment of its cash and marketable securities and other investments. To fund the redemption of limited partnership interests and to repay the prior mortgage, Justice obtained a $97,000,000 mortgage loan and a $20,000,000 mezzanine loan. The mortgage loan is secured by the Partnership’s principal asset, the Hotel. The mortgage loan bears an interest rate of 5.275% per annum with interest only payments due through January 2017. Beginning in February 2017, the loan began to amortize over a thirty-year period through its maturity date of January 2024. Outstanding principal balance on the loan was $94,090,000 and $95,018,000 as of March 31, 2019 and June 30, 2018, respectively. As additional security for the mortgage loan, there is a limited guaranty executed by Portsmouth in favor of the mortgage lender. The mezzanine loan is secured by the Operating membership interest held by Mezzanine and is subordinated to the Mortgage Loan. The mezzanine interest only loan bears interest at 9.75% per annum and matures in January 2024. As additional security for the mezzanine loan, there is a limited guaranty executed by Portsmouth in favor of the mezzanine lender. Effective as of 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 mortgage loan and the $20,000,000 mezzanine loan. Pursuant to the agreement, InterGroup is required to maintain a certain net worth and liquidity. As of March 31, 2019, InterGroup is in compliance with both requirements. In July 2018, InterGroup obtained a revolving $5,000,000 line of credit (“RLOC”). On July 31, 2018, $2,969,000 was drawn from the RLOC to pay off the mortgage note payable at Woodland Village and a new mortgage note payable was established at Woodland Village due to InterGroup for the amount drawn. The RLOC carries a variable interest rate of 30-day LIBOR plus 3%. Interest is paid on a monthly basis. The RLOC and all accrued and unpaid interest are due in July 2019. The $2,969,000 mortgage due to InterGroup carries same terms as InterGroup’s RLOC and is included in the mortgage notes payable – real estate in the condensed consolidated balance sheets as of March 31, 2019. The Hotel has continued to generate positive operating income. While the debt service requirements related to the loans may create some additional risk for the Company and its ability to generate cash flows in the future, management believes that cash flows from the operations of the Hotel and the garage will continue to be sufficient to meet all of the Partnership’s current and future obligations and financial requirements. The Company has invested in short-term, income-producing instruments and in equity and debt securities when deemed appropriate. The Company's marketable securities are classified as trading with unrealized gains and losses recorded through the consolidated statements of operations. Management believes that its cash, marketable securities, and the cash flows generated from those assets and from the partnership management fees, will be adequate to meet the Company’s current and future obligations. Additionally, management believes there is significant appreciated value in the Hotel property to support additional borrowings, if necessary. The following table provides a summary as of March 31, 2019, the Company’s material financial obligations which also including interest payments: Total 3 Months Year 1 Year 2 Year 3 Year 4 Year 5 Thereafter Mortgage notes payable $ 117,408,000 $ 472,000 $ 4,438,000 $ 1,564,000 $ 1,649,000 $ 1,740,000 $ 107,545,000 Related party and other notes payable 9,619,000 3,383,000 909,000 930,000 946,000 655,000 2,796,000 Interest 33,649,000 2,793,000 7,040,000 6,895,000 6,787,000 6,681,000 3,453,000 Total $ 160,676,000 $ 6,648,000 $ 12,387,000 $ 9,389,000 $ 9,382,000 $ 9,076,000 $ 113,794,000 In addition to the operations of the Hotel, the Company also generates income from the ownership and management of real estate. On December 31, 1997, the Company acquired a controlling 55.4% interest in Intergroup Woodland Village, Inc. ("Woodland Village") from InterGroup. Woodland Village's major asset is a 27-unit apartment complex located in Santa Monica, California. The Company also owns a two-unit apartment building in Los Angeles, California. Recently Issued and Adopted Accounting Pronouncements In November 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) 2016-18, Restricted Cash. ASU 2016-18 requires companies to include restricted cash and restricted cash equivalents with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. Additionally, ASU 2016-18 requires a disclosure of a reconciliation between the statement of financial position and the statement of cash flows when the balance sheet includes more than one line item for cash, cash equivalents, restricted cash, and restricted cash equivalents. ASU 2016-18 is effective for reporting periods beginning after December 15, 2017, with early adoption permitted, and will be applied retrospectively to all periods presented. The Company adopted ASU 2018-16 effective July 1, 2018. The adoption of ASU 2016-18 impacted the presentation of cash flows with inclusion of restricted cash flows for each of the presented periods. In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606) (ASU 2014-09), which amends the existing accounting standards for revenue recognition. In August 2015, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date, which delays the effective date of ASU 2014-09 by one year. The FASB also agreed to allow entities to choose to adopt the standard as of the original effective date. In March 2016, the FASB issued Accounting Standards Update No. 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net) (ASU 2016-08) which clarifies the implementation guidance on principal versus agent considerations. The guidance includes indicators to assist an entity in determining whether it controls a specified good or service before it is transferred to the customers. The new standard permits two methods of adoption: retrospectively to each prior reporting period presented (full retrospective method), or retrospectively with the cumulative effect of initially applying the guidance recognized at the date of initial application (the modified retrospective method). We applied the modified retrospective transition method to all contracts upon the adoption of ASU 2014-09 effective July 1, 2018. We provided the additional required disclosures, but the cumulative adjustment from our comparative periods was zero in our condensed consolidated financial statements. See Note 2. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (ASU 2016-02), which supersedes existing guidance on accounting for leases in Leases (Topic 840) and generally requires all leases, including operating leases, to be recognized in the statement of financial position as right-of-use assets and lease liabilities by lessees. The provisions of ASU 2016-02 are to be applied using a modified retrospective approach and are effective for reporting periods beginning after December 15, 2018; early adoption is permitted. We intend to adopt the standard on July 1, 2019. The Company is currently reviewing the effect of ASU No. 2016-02. On June 16, 2016, the FASB issued ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” This ASU modifies the impairment model to utilize an expected loss methodology in place of the currently used incurred loss methodology, which will result in the timelier recognition of losses. ASU No. 2016-13 will be effective for us as of January 1, 2020. The Company is currently reviewing the effect of ASU No. 2016-13.

REVENUE

REVENUE	9 Months Ended
	Mar. 31, 2019
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer [Text Block]	NOTE 2 – REVENUE On July 1, 2018, we adopted ASC 606, Revenue from Contracts with Customers, as described in Note 1, using the modified retrospective approach to all contracts resulting in no cumulative adjustment to accumulated deficit. The adoption of this standard did not impact the timing of our revenue recognition based on the short-term, day-to-day nature of our operations. The following table present our hotel revenues disaggregated by revenue streams. Revenues from real estate are not affected by the new guidance. For the three months ended March 31, 2019 2018 Hotel revenues: Hotel rooms $ 13,521,000 $ 11,714,000 Food and beverage 1,218,000 1,748,000 Garage 652,000 756,000 Other operating departments 78,000 126,000 Total hotel revenue $ 15,469,000 $ 14,344,000 For the nine months ended March 31, 2019 2018 Hotel revenues: Hotel rooms $ 38,608,000 $ 34,266,000 Food and beverage 4,232,000 5,121,000 Garage 2,160,000 2,272,000 Other operating departments 276,000 309,000 Total hotel revenue $ 45,276,000 $ 41,968,000 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 are typically satisfied as the good or service is transferred to the hotel guest, which is generally when the room stay occurs. • Noncancelable room reservations and banquet or conference reservations represent a series of distinct goods or services provided over time and satisfied as each distinct good or service is provided, which is reflected by the duration of the room reservation. • Other ancillary goods and services are purchased independently of the room reservation at standalone selling prices and are considered separate performance obligations, which are satisfied when the related good or service is provided to the hotel guest. • Components of package reservations for which each component could be sold separately to other hotel guests are considered separate performance obligations and are satisfied as set forth above. 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 March 31, 2019 and June 30, 2018 other than trade and other receivables, net on our Condensed Consolidated Balance Sheet. 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 $673,000 as of March 31, 2019 from $571,000 as of June 30, 2018. The increase for the nine months ended March 31, 2019 was primarily driven by deposits received from upcoming groups, offset by $560,000 revenue recognized that was included in the advanced deposits balance as of June 30, 2018. 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	9 Months Ended
	Mar. 31, 2019
Real Estate [Abstract]
Real Estate Disclosure [Text Block]	NOTE 3 – INVESTMENT IN HOTEL, NET Investment in hotel consisted of the following as of: Accumulated Net Book March 31, 2019 Cost Depreciation Value Land $ 1,896,000 $ - $ 1,896,000 Furniture and equipment 30,379,000 (26,632,000 ) 3,747,000 Building and improvements 59,341,000 (28,789,000 ) 30,552,000 $ 91,616,000 $ (55,421,000 ) $ 36,195,000 Accumulated Net Book June 30, 2018 Cost Depreciation Value Land $ 1,896,000 $ - $ 1,896,000 Furniture and equipment 29,350,000 (25,877,000 ) 3,473,000 Building and improvements 59,798,000 (27,808,000 ) 31,990,000 $ 91,044,000 $ (53,685,000 ) $ 37,359,000

INVESTMENT IN REAL ESTATE, NET

INVESTMENT IN REAL ESTATE, NET	9 Months Ended
	Mar. 31, 2019
Real Estate [Abstract]
Investment In Real Estate [Text Block]	NOTE 4 – INVESTMENT IN REAL ESTATE, NET The Company owns and operates a 27-unit and 2-unit multi-family apartment complexes located in Los Angeles, California and Santa Monica, California, respectively. The Company also owns land held for development located in Maui, Hawaii. Investment in real estate consisted of the following: As of March 31, 2019 June 30, 2018 Land $ 2,430,000 $ 2,430,000 Buildings, improvements and equipment 2,920,000 2,912,000 Accumulated depreciation (1,435,000 ) (1,354,000 ) 3,915,000 3,988,000 Land held for development 973,000 973,000 Investment in real estate, net $ 4,888,000 $ 4,961,000

INVESTMENT IN MARKETABLE SECURI

INVESTMENT IN MARKETABLE SECURITIES	9 Months Ended
	Mar. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	NOTE 5 - 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 March 31, 2019 and June 30, 2018, all of the Company’s marketable securities are classified as trading securities. The change in the unrealized gains and losses on these investments are included in earnings. Trading securities are summarized as follows: Gross Gross Net Fair Investment Cost Unrealized Gain Unrealized Loss Unrealized Loss Value As of March 31, 2019 Corporate Equities $ 11,736,000 $ 305,000 $ (8,725,000 ) $ (8,420,000 ) $ 3,316,000 As of June 30, 2018 Corporate Equities $ 12,187,000 $ 721,000 $ (8,469,000 ) $ (7,748,000 ) $ 4,439,000 As of March 31, 2019, and June 30, 2018, approximately 17% and 16%, respectively, of the investment marketable securities balance above is comprised of the common stock of Comstock Mining, Inc. (“Comstock” - NYSE AMERICAN: LODE). As of March 31, 2019, and June 30, 2018, the Company had $8,591,000 and $8,433,000 respectively, of unrealized losses related to securities held for over one year. As of March 31, 2019, and June 30, 2018, unrealized losses related to the Company’s investment in Comstock were $8,503,000 and $8,369,000, respectively. Net gains (losses) on marketable securities on the statement of operations is comprised of realized and unrealized gains (losses). Below is the composition of the net gains (losses) on marketable securities for the three and nine months ended March 31, 2019 and 2018, respectively. For the three months ended March 31, 2018 2018 Realized (loss) gain on marketable securities $ (89,000 ) $ 249,000 Unrealized gain (loss) on marketable securities 156,000 (79,000 ) Unrealized gain (loss) on marketable securities related to Comstock 207,000 (376,000 ) Net gain (loss) on marketable securities $ 274,000 $ (206,000 ) For the nine months ended March 31, 2019 2018 Realized gain on marketable securities $ 201,000 $ 179,000 Unrealized (loss) gain on marketable securities (531,000 ) 89,000 Unrealized loss on marketable securities related to Comstock (134,000 ) (1,756,000 ) Net loss on marketable securities $ (464,000 ) $ (1,488,000 )

OTHER INVESTMENTS, NET

OTHER INVESTMENTS, NET	9 Months Ended
	Mar. 31, 2019
Investments, All Other Investments [Abstract]
Other Investments Disclosure [Text Block]	NOTE 6 – OTHER INVESTMENTS, NET The Company may also invest, with the approval of the securities investment committee and other Company guidelines, in private investment equity funds and other unlisted securities, such as convertible notes through private placements. Those investments in non-marketable securities are carried at cost on the Company’s balance sheet as part of other investments, net of other than temporary impairment losses. Other investments, net consist of the following: Type March 31, 2019 June 30, 2018 Private equity hedge fund, at cost $ 233,000 $ 344,000 Other investments 118,000 130,000 $ 351,000 $ 474,000

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	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) or the nature and terms of the obligation (i.e., other notes payable and mortgage notes payable). The assets measured at fair value on a recurring basis are as follows: As of 3/31/2019 6/30/2018 Assets: Total - Level 1 Total - Level 1 Investment in marketable securities: Basic materials $ 869,000 $ 698,000 Consumer 751,000 - REITs and real estate companies 407,000 1,484,000 Energy 317,000 75,000 Healthcare 277,000 838,000 Other 695,000 1,344,000 $ 3,316,000 $ 4,439,000 The fair values of investments in marketable securities are determined by the most recently traded price of each security at the balance sheet date. Financial assets that are measured at fair value on a non-recurring basis and are not included in the tables above include “Other investments, net (non-marketable securities),” that were initially measured at cost and have been written down to fair value as a result of impairment. The following table shows the fair value hierarchy for these assets measured at fair value on a non-recurring basis as follows: Net loss for the nine months Assets Level 3 March 31, 2019 ended March 31, 2019 Other non-marketable investments $ 351,000 $ 351,000 $ (61,000 ) Net loss for the nine months Assets Level 3 June 30, 2018 ended March 31, 2018 Other non-marketable investments $ 474,000 $ 474,000 $ (124,000 ) Other investments in non-marketable securities are carried at cost net of any impairment loss. The Company has no significant influence or control over the entities that issue these investments and holds less than 20% ownership in each of the investments. These investments are reviewed on a periodic basis for other-than-temporary impairment. The Company reviews several factors to determine whether a loss is other-than-temporary. These factors include but are not limited to: (i) the length of time an investment is in an unrealized loss position, (ii) the extent to which fair value is less than cost, (iii) the financial condition and near-term prospects of the issuer and (iv) our ability to hold the investment for a period of time sufficient to allow for any anticipated recovery in fair value.

CASH, CASH EQUIVALENTS AND REST

CASH, CASH EQUIVALENTS AND RESTRICTED CASH	9 Months Ended
	Mar. 31, 2019
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Cash and Cash Equivalents Disclosure [Text Block]	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. As of 3/31/2019 6/30/2018 Cash and cash equivalents $ 9,127,000 $ 7,647,000 Restricted cash 7,952,000 7,119,000 Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statement of cash flows $ 17,079,000 $ 14,766,000 Restricted cash is comprised of amounts held by lenders for payment of real estate taxes, insurance, replacement and capital addition reserves for the Hotel. It also includes key money received from Interstate that is restricted for capital improvements.

SEGMENT INFORMATION

SEGMENT INFORMATION	9 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	NOTE 9 – SEGMENT INFORMATION The Company operates in three reportable segments, the operation of the Hotel (“Hotel Operations”), its multi-family residential properties (“Real Estate Operations”) and the investment of its cash in marketable securities and other investments (“Investment Transactions”). These three operating segments, as presented in the financial statements, reflect how management internally reviews each segment’s performance. Management also makes operational and strategic decisions based on this same information. Information below represents reporting segments for the three and nine months ended March 31, 2019 and 2018, respectively. Segment income from Hotel operations consists of the operation of the Hotel and operation of the garage. Segment income (loss) from real estate operations consists of the operation of the rental properties. Segment (loss) gain from investments consists of net investment gain (loss), dividend and interest income and investment related expenses. As of and for the three months Hotel Real Estate Investment ended March 31, 2019 Operations Operations Transactions Corporate Total Revenues $ 15,469,000 $ 81,000 $ - $ - $ 15,550,000 Segment operating expenses (11,378,000 ) (52,000 ) - (364,000 ) (11,794,000 ) Segment income (loss) 4,091,000 29,000 - (364,000 ) 3,756,000 Interest expense - mortgage and related party (1,941,000 ) (26,000 ) - - (1,967,000 ) Loss on disposal of assets (398,000 ) - - - (398,000 ) Depreciation and amortization expense (585,000 ) (28,000 ) - - (613,000 ) Gain from investments - - 248,000 - 248,000 Income tax expense - - - (280,000 ) (280,000 ) Net income (loss) $ 1,167,000 $ (25,000 ) $ 248,000 $ (644,000 ) $ 746,000 Total assets $ 54,620,000 $ 4,888,000 $ 3,667,000 $ 5,356,000 $ 68,531,000 For the three months Hotel Real Estate Investment ended March 31, 2018 Operations Operations Transactions Corporate Total Revenues $ 14,344,000 $ 86,000 $ - $ - $ 14,430,000 Segment operating expenses (10,573,000 ) (55,000 ) - (448,000 ) (11,076,000 ) Segment income (loss) 3,771,000 31,000 - (448,000 ) 3,354,000 Interest expense - mortgage and related party (1,918,000 ) (21,000 ) - - (1,939,000 ) Depreciation and amortization expense (643,000 ) (27,000 ) - - (670,000 ) Loss from investments - - (283,000 ) - (283,000 ) Income tax benefit - - - 101,000 101,000 Net income (loss) $ 1,210,000 $ (17,000 ) $ (283,000 ) $ (347,000 ) $ 563,000 As of and for the nine months Hotel Real Estate Investment ended March 31, 2019 Operations Operations Transactions Corporate Total Revenues $ 45,276,000 $ 242,000 $ - $ - $ 45,518,000 Segment operating expenses (33,424,000 ) (170,000 ) - (843,000 ) (34,437,000 ) Segment income (loss) 11,852,000 72,000 - (843,000 ) 11,081,000 Interest expense - mortgage and related party (5,733,000 ) (204,000 ) - - (5,937,000 ) Loss on disposal of assets (398,000 ) - - - (398,000 ) Depreciation and amortization expense (1,820,000 ) (82,000 ) - - (1,902,000 ) Loss from investments - - (632,000 ) - (632,000 ) Income tax expense - - - (769,000 ) (769,000 ) Net income (loss) $ 3,901,000 $ (214,000 ) $ (632,000 ) $ (1,612,000 ) $ 1,443,000 Total assets $ 54,620,000 $ 4,888,000 $ 3,667,000 $ 5,356,000 $ 68,531,000 For the nine months Hotel Real Estate Investment ended March 31, 2018 Operations Operations Transactions Corporate Total Revenues $ 41,968,000 $ 257,000 $ - $ - $ 42,225,000 Segment operating expenses (31,905,000 ) (148,000 ) - (1,077,000 ) (33,130,000 ) Segment income (loss) 10,063,000 109,000 - (1,077,000 ) 9,095,000 Interest expense - mortgage and related party (5,885,000 ) (66,000 ) - - (5,951,000 ) Depreciation and amortization expense (1,974,000 ) (78,000 ) - - (2,052,000 ) Loss from investments - - (1,833,000 ) - (1,833,000 ) Income tax expense - - - (3,063,000 ) (3,063,000 ) Net income (loss) $ 2,204,000 $ (35,000 ) $ (1,833,000 ) $ (4,140,000 ) $ (3,804,000 )

RELATED PARTY AND OTHER FINANCI

RELATED PARTY AND OTHER FINANCING TRANSACTIONS	9 Months Ended
	Mar. 31, 2019
Related Party And Other Financing Transactions [Abstract]
Related Party And Other Financing Transactions [Text Block]	NOTE 10 – RELATED PARTY AND OTHER FINANCING TRANSACTIONS On July 2, 2014, the Partnership obtained from InterGroup an unsecured loan in the principal amount of $4,250,000 at 12% per year fixed interest, with a term of 2 years, payable interest only each month. InterGroup received a 3% loan fee. The loan may be prepaid at any time without penalty. The loan was extended to June 30, 2019. The balance of this loan was $3,000,000 as of March 31, 2019 and June 30, 2018, and are included in the related party and other note payable in the consolidated balance sheets. Also included in the balance of related party note payable at March 31, 2019 is the obligation to Hilton (Franchisor) in the form of 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. The outstanding balance of the note as of March 31, 2019 and June 30, 2018, was $3,404,000 and $3,642,000, respectively. 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 years commencing on the takeover date and automatically renews for an additional year not to exceed five years in aggregate subject to certain conditions. The HMA also provides for Interstate to advance a key money incentive fee to the Hotel for capital improvements in the amount of $2,000,000 under certain terms and conditions described in a separate key money agreement. The key money contribution shall be amortized in equal monthly amounts over an eight (8) year period commencing on the second (2 nd In April 2017, Portsmouth obtained from InterGroup an unsecured short-term loan in the amount of $1,000,000 at 5% per year fixed interest, with a term of five months and maturing September 6, 2017. On September 1 st As of March 31, 2019, the Company had capital lease obligations outstanding of $1,256,000. These capital leases expire in various years through 2023 at rates ranging from 5.77% to 6.53% per annum. Minimum future lease payments for assets under capital leases as of March 31, 2019 are as follows: For the year ending June 30, 2019 $ 102,000 2020 405,000 2021 405,000 2022 397,000 2023 90,000 Total minimum lease payments 1,399,000 Less interest on capital lease (143,000 ) Present value of future minimum lease payments $ 1,256,000 Future minimum principal payments for all related party and other financing transactions are as follows: For the year ending June 30, 2019 $ 3,383,000 2020 909,000 2021 930,000 2022 946,000 2023 655,000 Thereafter 2,796,000 $ 9,619,000 In July 2018, InterGroup obtained a revolving $5,000,000 line of credit (“RLOC”). On July 31, 2018, $2,969,000 was drawn from the RLOC to pay off the mortgage note payable at Woodland Village and a new mortgage note payable was established at Woodland Village due to InterGroup for the amount drawn. The RLOC carries a variable interest rate of 30-day LIBOR plus 3%. Interest is paid on a monthly basis. The RLOC and all accrued and unpaid interest are due in July 2019. The $2,969,000 mortgage due to InterGroup carries same terms as InterGroup’s RLOC and is included in the mortgage notes payable – real estate in the condensed consolidated balance sheets as of March 31, 2019. Effective May 12, 2017, InterGroup agreed to become an additional guarantor under the limited guaranty and an additional indemnitor under environmental indemnity for Justice Investors limited partnership’s $97,000,000 mortgage loan and the $20,000,000 mezzanine loan, in order to maintain certain minimum net worth and liquidity guarantor covenant requirements that Portsmouth was unable to satisfy independently as of March 31, 2017. In connection with the redemption of the limited partnership interest of Justice, Justice Operating Company, LLC agreed to pay a total of $1,550,000 in fees to certain officers and directors of the Company for services rendered in connection with the redemption of the partnership interests, refinancing of the Justices properties and reorganization of Justice. This agreement was superseded by a letter dated December 11, 2013 from Justice, in which Justice assumed the payment obligations of Justice Operating Company, LLC. As of June 30, 2018, $200,000 of these fees remain payable. The balance was paid in full as of March 31, 2019. As of September 30, 2017, Justice had an outstanding accounts payable balance to InterGroup for $116,000 for management of the Hotel from June to December of 2016. The balance was paid in full as of December 31, 2017. Five of the Portsmouth directors serve as directors of InterGroup. Three of those directors also serve as directors of Santa Fe. The three Santa Fe directors also serve as directors of InterGroup. The Company’s Board of Directors is currently comprised of directors John V. Winfield, William J. Nance, and John C. Love. All of the Company’s directors also serve as directors of InterGroup and Portsmouth. As Chairman of the 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 Portsmouth and InterGroup and oversees the investment activity of those companies. Depending on certain market conditions and various risk factors, the Chief Executive Officer, Portsmouth and InterGroup 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 the Portsmouth and InterGroup, at risk in substantially the same manner as the Company in connection with investment decisions made on behalf of the Company.

BASIS OF PRESENTATION AND SIG_2

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Due To Securities Broker [Policy Text Block]	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 [Policy Text Block]	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, Policy [Policy Text Block]	Income Tax The Company consolidates Justice (“Hotel”) for financial reporting purposes and is not taxed on its non-controlling interest in the Hotel. The income tax expense during the nine months ended March 31, 2019 and 2018 represent the income tax effect on the Company’s pretax income (loss) which includes its share in the net income of the Hotel. For the nine months ended March 31, 2018, a provisional net charge of $3,313,000 was included in the income tax expense as a result of reducing our deferred tax asset to the lower federal base rate of 21%.
Financial Condition And Liquidity [Policy Text Block]	Financial Condition and Liquidity The Company’s cash flows are primarily generated from its Hotel operations. The Company also receives cash generated from the investment of its cash and marketable securities and other investments. To fund the redemption of limited partnership interests and to repay the prior mortgage, Justice obtained a $97,000,000 mortgage loan and a $20,000,000 mezzanine loan. The mortgage loan is secured by the Partnership’s principal asset, the Hotel. The mortgage loan bears an interest rate of 5.275% per annum with interest only payments due through January 2017. Beginning in February 2017, the loan began to amortize over a thirty-year period through its maturity date of January 2024. Outstanding principal balance on the loan was $94,090,000 and $95,018,000 as of March 31, 2019 and June 30, 2018, respectively. As additional security for the mortgage loan, there is a limited guaranty executed by Portsmouth in favor of the mortgage lender. The mezzanine loan is secured by the Operating membership interest held by Mezzanine and is subordinated to the Mortgage Loan. The mezzanine interest only loan bears interest at 9.75% per annum and matures in January 2024. As additional security for the mezzanine loan, there is a limited guaranty executed by Portsmouth in favor of the mezzanine lender. Effective as of 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 mortgage loan and the $20,000,000 mezzanine loan. Pursuant to the agreement, InterGroup is required to maintain a certain net worth and liquidity. As of March 31, 2019, InterGroup is in compliance with both requirements. In July 2018, InterGroup obtained a revolving $5,000,000 line of credit (“RLOC”). On July 31, 2018, $2,969,000 was drawn from the RLOC to pay off the mortgage note payable at Woodland Village and a new mortgage note payable was established at Woodland Village due to InterGroup for the amount drawn. The RLOC carries a variable interest rate of 30-day LIBOR plus 3%. Interest is paid on a monthly basis. The RLOC and all accrued and unpaid interest are due in July 2019. The $2,969,000 mortgage due to InterGroup carries same terms as InterGroup’s RLOC and is included in the mortgage notes payable – real estate in the condensed consolidated balance sheets as of March 31, 2019. The Hotel has continued to generate positive operating income. While the debt service requirements related to the loans may create some additional risk for the Company and its ability to generate cash flows in the future, management believes that cash flows from the operations of the Hotel and the garage will continue to be sufficient to meet all of the Partnership’s current and future obligations and financial requirements. The Company has invested in short-term, income-producing instruments and in equity and debt securities when deemed appropriate. The Company's marketable securities are classified as trading with unrealized gains and losses recorded through the consolidated statements of operations. Management believes that its cash, marketable securities, and the cash flows generated from those assets and from the partnership management fees, will be adequate to meet the Company’s current and future obligations. Additionally, management believes there is significant appreciated value in the Hotel property to support additional borrowings, if necessary. The following table provides a summary as of March 31, 2019, the Company’s material financial obligations which also including interest payments: Total 3 Months Year 1 Year 2 Year 3 Year 4 Year 5 Thereafter Mortgage notes payable $ 117,408,000 $ 472,000 $ 4,438,000 $ 1,564,000 $ 1,649,000 $ 1,740,000 $ 107,545,000 Related party and other notes payable 9,619,000 3,383,000 909,000 930,000 946,000 655,000 2,796,000 Interest 33,649,000 2,793,000 7,040,000 6,895,000 6,787,000 6,681,000 3,453,000 Total $ 160,676,000 $ 6,648,000 $ 12,387,000 $ 9,389,000 $ 9,382,000 $ 9,076,000 $ 113,794,000 In addition to the operations of the Hotel, the Company also generates income from the ownership and management of real estate. On December 31, 1997, the Company acquired a controlling 55.4% interest in Intergroup Woodland Village, Inc. ("Woodland Village") from InterGroup. Woodland Village's major asset is a 27-unit apartment complex located in Santa Monica, California. The Company also owns a two-unit apartment building in Los Angeles, California.
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Issued and Adopted Accounting Pronouncements In November 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) 2016-18, Restricted Cash. ASU 2016-18 requires companies to include restricted cash and restricted cash equivalents with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. Additionally, ASU 2016-18 requires a disclosure of a reconciliation between the statement of financial position and the statement of cash flows when the balance sheet includes more than one line item for cash, cash equivalents, restricted cash, and restricted cash equivalents. ASU 2016-18 is effective for reporting periods beginning after December 15, 2017, with early adoption permitted, and will be applied retrospectively to all periods presented. The Company adopted ASU 2018-16 effective July 1, 2018. The adoption of ASU 2016-18 impacted the presentation of cash flows with inclusion of restricted cash flows for each of the presented periods. In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606) (ASU 2014-09), which amends the existing accounting standards for revenue recognition. In August 2015, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date, which delays the effective date of ASU 2014-09 by one year. The FASB also agreed to allow entities to choose to adopt the standard as of the original effective date. In March 2016, the FASB issued Accounting Standards Update No. 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net) (ASU 2016-08) which clarifies the implementation guidance on principal versus agent considerations. The guidance includes indicators to assist an entity in determining whether it controls a specified good or service before it is transferred to the customers. The new standard permits two methods of adoption: retrospectively to each prior reporting period presented (full retrospective method), or retrospectively with the cumulative effect of initially applying the guidance recognized at the date of initial application (the modified retrospective method). We applied the modified retrospective transition method to all contracts upon the adoption of ASU 2014-09 effective July 1, 2018. We provided the additional required disclosures, but the cumulative adjustment from our comparative periods was zero in our condensed consolidated financial statements. See Note 2. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (ASU 2016-02), which supersedes existing guidance on accounting for leases in Leases (Topic 840) and generally requires all leases, including operating leases, to be recognized in the statement of financial position as right-of-use assets and lease liabilities by lessees. The provisions of ASU 2016-02 are to be applied using a modified retrospective approach and are effective for reporting periods beginning after December 15, 2018; early adoption is permitted. We intend to adopt the standard on July 1, 2019. The Company is currently reviewing the effect of ASU No. 2016-02. On June 16, 2016, the FASB issued ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” This ASU modifies the impairment model to utilize an expected loss methodology in place of the currently used incurred loss methodology, which will result in the timelier recognition of losses. ASU No. 2016-13 will be effective for us as of January 1, 2020. The Company is currently reviewing the effect of ASU No. 2016-13.

BASIS OF PRESENTATION AND SIG_3

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Schedule Of Financial Obligations Including Interest Payments [Table Text Block]	The following table provides a summary as of March 31, 2019, the Company’s material financial obligations which also including interest payments: Total 3 Months Year 1 Year 2 Year 3 Year 4 Year 5 Thereafter Mortgage notes payable $ 117,408,000 $ 472,000 $ 4,438,000 $ 1,564,000 $ 1,649,000 $ 1,740,000 $ 107,545,000 Related party and other notes payable 9,619,000 3,383,000 909,000 930,000 946,000 655,000 2,796,000 Interest 33,649,000 2,793,000 7,040,000 6,895,000 6,787,000 6,681,000 3,453,000 Total $ 160,676,000 $ 6,648,000 $ 12,387,000 $ 9,389,000 $ 9,382,000 $ 9,076,000 $ 113,794,000

REVENUE (Tables)

REVENUE (Tables)	9 Months Ended
	Mar. 31, 2019
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue [Table Text Block]	The following table present our hotel revenues disaggregated by revenue streams. Revenues from real estate are not affected by the new guidance. For the three months ended March 31, 2019 2018 Hotel revenues: Hotel rooms $ 13,521,000 $ 11,714,000 Food and beverage 1,218,000 1,748,000 Garage 652,000 756,000 Other operating departments 78,000 126,000 Total hotel revenue $ 15,469,000 $ 14,344,000 For the nine months ended March 31, 2019 2018 Hotel revenues: Hotel rooms $ 38,608,000 $ 34,266,000 Food and beverage 4,232,000 5,121,000 Garage 2,160,000 2,272,000 Other operating departments 276,000 309,000 Total hotel revenue $ 45,276,000 $ 41,968,000

INVESTMENT IN HOTEL, NET (Table

INVESTMENT IN HOTEL, NET (Tables)	9 Months Ended
	Mar. 31, 2019
Property, Plant and Equipment [Abstract]
Schedule of Real Estate Properties [Table Text Block]	Investment in hotel consisted of the following as of: Accumulated Net Book March 31, 2019 Cost Depreciation Value Land $ 1,896,000 $ - $ 1,896,000 Furniture and equipment 30,379,000 (26,632,000 ) 3,747,000 Building and improvements 59,341,000 (28,789,000 ) 30,552,000 $ 91,616,000 $ (55,421,000 ) $ 36,195,000 Accumulated Net Book June 30, 2018 Cost Depreciation Value Land $ 1,896,000 $ - $ 1,896,000 Furniture and equipment 29,350,000 (25,877,000 ) 3,473,000 Building and improvements 59,798,000 (27,808,000 ) 31,990,000 $ 91,044,000 $ (53,685,000 ) $ 37,359,000

INVESTMENT IN REAL ESTATE, NET

INVESTMENT IN REAL ESTATE, NET (Tables)	9 Months Ended
	Mar. 31, 2019
Real Estate [Abstract]
Schedule of Investment In Real Estate [Table Text Block]	The Company owns and operates a 27-unit and 2-unit multi-family apartment complexes located in Los Angeles, California and Santa Monica, California, respectively. The Company also owns land held for development located in Maui, Hawaii. Investment in real estate consisted of the following: As of March 31, 2019 June 30, 2018 Land $ 2,430,000 $ 2,430,000 Buildings, improvements and equipment 2,920,000 2,912,000 Accumulated depreciation (1,435,000 ) (1,354,000 ) 3,915,000 3,988,000 Land held for development 973,000 973,000 Investment in real estate, net $ 4,888,000 $ 4,961,000

INVESTMENT IN MARKETABLE SECU_2

INVESTMENT IN MARKETABLE SECURITIES (Tables)	9 Months Ended
	Mar. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Marketable Securities [Table Text Block]	At March 31, 2019 and June 30, 2018, all of the Company’s marketable securities are classified as trading securities. The change in the unrealized gains and losses on these investments are included in earnings. Trading securities are summarized as follows: Gross Gross Net Fair Investment Cost Unrealized Gain Unrealized Loss Unrealized Loss Value As of March 31, 2019 Corporate Equities $ 11,736,000 $ 305,000 $ (8,725,000 ) $ (8,420,000 ) $ 3,316,000 As of June 30, 2018 Corporate Equities $ 12,187,000 $ 721,000 $ (8,469,000 ) $ (7,748,000 ) $ 4,439,000
Gain (Loss) on Securities [Table Text Block]	Net gains (losses) on marketable securities on the statement of operations is comprised of realized and unrealized gains (losses). Below is the composition of the net gains (losses) on marketable securities for the three and nine months ended March 31, 2019 and 2018, respectively. For the three months ended March 31, 2018 2018 Realized (loss) gain on marketable securities $ (89,000 ) $ 249,000 Unrealized gain (loss) on marketable securities 156,000 (79,000 ) Unrealized gain (loss) on marketable securities related to Comstock 207,000 (376,000 ) Net gain (loss) on marketable securities $ 274,000 $ (206,000 ) For the nine months ended March 31, 2019 2018 Realized gain on marketable securities $ 201,000 $ 179,000 Unrealized (loss) gain on marketable securities (531,000 ) 89,000 Unrealized loss on marketable securities related to Comstock (134,000 ) (1,756,000 ) Net loss on marketable securities $ (464,000 ) $ (1,488,000 )

OTHER INVESTMENTS, NET (Tables)

OTHER INVESTMENTS, NET (Tables)	9 Months Ended
	Mar. 31, 2019
Investments, All Other Investments [Abstract]
Schedule Of Other Investments Not Readily Marketable [Table Text Block]	Other investments, net consist of the following: Type March 31, 2019 June 30, 2018 Private equity hedge fund, at cost $ 233,000 $ 344,000 Other investments 118,000 130,000 $ 351,000 $ 474,000

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	The assets measured at fair value on a recurring basis are as follows: As of 3/31/2019 6/30/2018 Assets: Total - Level 1 Total - Level 1 Investment in marketable securities: Basic materials $ 869,000 $ 698,000 Consumer 751,000 - REITs and real estate companies 407,000 1,484,000 Energy 317,000 75,000 Healthcare 277,000 838,000 Other 695,000 1,344,000 $ 3,316,000 $ 4,439,000
Fair Value Measurements, Nonrecurring [Table Text Block]	The following table shows the fair value hierarchy for these assets measured at fair value on a non-recurring basis as follows: Net loss for the nine months Assets Level 3 March 31, 2019 ended March 31, 2019 Other non-marketable investments $ 351,000 $ 351,000 $ (61,000 ) Net loss for the nine months Assets Level 3 June 30, 2018 ended March 31, 2018 Other non-marketable investments $ 474,000 $ 474,000 $ (124,000 )

CASH, CASH EQUIVALENTS AND RE_2

CASH, CASH EQUIVALENTS AND RESTRICTED CASH (Tables)	9 Months Ended
	Mar. 31, 2019
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Schedule of Cash Cash Equivalents and Restricted Cash [Table Text Block]	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. As of 3/31/2019 6/30/2018 Cash and cash equivalents $ 9,127,000 $ 7,647,000 Restricted cash 7,952,000 7,119,000 Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statement of cash flows $ 17,079,000 $ 14,766,000

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	9 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Information below represents reporting segments for the three and nine months ended March 31, 2019 and 2018, respectively. Segment income from Hotel operations consists of the operation of the Hotel and operation of the garage. Segment income (loss) from real estate operations consists of the operation of the rental properties. Segment (loss) gain from investments consists of net investment gain (loss), dividend and interest income and investment related expenses. As of and for the three months Hotel Real Estate Investment ended March 31, 2019 Operations Operations Transactions Corporate Total Revenues $ 15,469,000 $ 81,000 $ - $ - $ 15,550,000 Segment operating expenses (11,378,000 ) (52,000 ) - (364,000 ) (11,794,000 ) Segment income (loss) 4,091,000 29,000 - (364,000 ) 3,756,000 Interest expense - mortgage and related party (1,941,000 ) (26,000 ) - - (1,967,000 ) Loss on disposal of assets (398,000 ) - - - (398,000 ) Depreciation and amortization expense (585,000 ) (28,000 ) - - (613,000 ) Gain from investments - - 248,000 - 248,000 Income tax expense - - - (280,000 ) (280,000 ) Net income (loss) $ 1,167,000 $ (25,000 ) $ 248,000 $ (644,000 ) $ 746,000 Total assets $ 54,620,000 $ 4,888,000 $ 3,667,000 $ 5,356,000 $ 68,531,000 For the three months Hotel Real Estate Investment ended March 31, 2018 Operations Operations Transactions Corporate Total Revenues $ 14,344,000 $ 86,000 $ - $ - $ 14,430,000 Segment operating expenses (10,573,000 ) (55,000 ) - (448,000 ) (11,076,000 ) Segment income (loss) 3,771,000 31,000 - (448,000 ) 3,354,000 Interest expense - mortgage and related party (1,918,000 ) (21,000 ) - - (1,939,000 ) Depreciation and amortization expense (643,000 ) (27,000 ) - - (670,000 ) Loss from investments - - (283,000 ) - (283,000 ) Income tax benefit - - - 101,000 101,000 Net income (loss) $ 1,210,000 $ (17,000 ) $ (283,000 ) $ (347,000 ) $ 563,000 As of and for the nine months Hotel Real Estate Investment ended March 31, 2019 Operations Operations Transactions Corporate Total Revenues $ 45,276,000 $ 242,000 $ - $ - $ 45,518,000 Segment operating expenses (33,424,000 ) (170,000 ) - (843,000 ) (34,437,000 ) Segment income (loss) 11,852,000 72,000 - (843,000 ) 11,081,000 Interest expense - mortgage and related party (5,733,000 ) (204,000 ) - - (5,937,000 ) Loss on disposal of assets (398,000 ) - - - (398,000 ) Depreciation and amortization expense (1,820,000 ) (82,000 ) - - (1,902,000 ) Loss from investments - - (632,000 ) - (632,000 ) Income tax expense - - - (769,000 ) (769,000 ) Net income (loss) $ 3,901,000 $ (214,000 ) $ (632,000 ) $ (1,612,000 ) $ 1,443,000 Total assets $ 54,620,000 $ 4,888,000 $ 3,667,000 $ 5,356,000 $ 68,531,000 For the nine months Hotel Real Estate Investment ended March 31, 2018 Operations Operations Transactions Corporate Total Revenues $ 41,968,000 $ 257,000 $ - $ - $ 42,225,000 Segment operating expenses (31,905,000 ) (148,000 ) - (1,077,000 ) (33,130,000 ) Segment income (loss) 10,063,000 109,000 - (1,077,000 ) 9,095,000 Interest expense - mortgage and related party (5,885,000 ) (66,000 ) - - (5,951,000 ) Depreciation and amortization expense (1,974,000 ) (78,000 ) - - (2,052,000 ) Loss from investments - - (1,833,000 ) - (1,833,000 ) Income tax expense - - - (3,063,000 ) (3,063,000 ) Net income (loss) $ 2,204,000 $ (35,000 ) $ (1,833,000 ) $ (4,140,000 ) $ (3,804,000 )

RELATED PARTY AND OTHER FINAN_2

RELATED PARTY AND OTHER FINANCING TRANSACTIONS (Tables)	9 Months Ended
	Mar. 31, 2019
Related Party Transaction [Line Items]
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block]	Minimum future lease payments for assets under capital leases as of March 31, 2019 are as follows: For the year ending June 30, 2019 $ 102,000 2020 405,000 2021 405,000 2022 397,000 2023 90,000 Total minimum lease payments 1,399,000 Less interest on capital lease (143,000 ) Present value of future minimum lease payments $ 1,256,000
Related Party And Other Financing Transactions [Member]
Related Party Transaction [Line Items]
Contractual Obligation, Fiscal Year Maturity Schedule [Table Text Block]	Future minimum principal payments for all related party and other financing transactions are as follows: For the year ending June 30, 2019 $ 3,383,000 2020 909,000 2021 930,000 2022 946,000 2023 655,000 Thereafter 2,796,000 $ 9,619,000

BASIS OF PRESENTATION AND SIG_4

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Details)	Mar. 31, 2019USD ($)
Total	$ 160,676,000
3 Months Year 1	6,648,000
Year 2	12,387,000
Year 3	9,389,000
Year 4	9,382,000
Year 5	9,076,000
Thereafter	113,794,000
Mortgage notes payable
Total	117,408,000
3 Months Year 1	472,000
Year 2	4,438,000
Year 3	1,564,000
Year 4	1,649,000
Year 5	1,740,000
Thereafter	107,545,000
Related party and other notes payable
Total	9,619,000
3 Months Year 1	3,383,000
Year 2	909,000
Year 3	930,000
Year 4	946,000
Year 5	655,000
Thereafter	2,796,000
Interest
Total	33,649,000
3 Months Year 1	2,793,000
Year 2	7,040,000
Year 3	6,895,000
Year 4	6,787,000
Year 5	6,681,000
Thereafter	$ 3,453,000

BASIS OF PRESENTATION AND SIG_5

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Details Textual) - USD ($)	1 Months Ended	9 Months Ended	12 Months Ended
	Jul. 31, 2018	Mar. 31, 2019	Jun. 30, 2018	Dec. 31, 2018	May 11, 2017
Basis Of Presentation And Significant Accounting Policies [Line Items]
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount		$ 3,313,000
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent		21.00%
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Face Amount of Mortgages				$ 97,000,000
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate		5.275%
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate					$ 97,000,000
Management Fee Payable Percentage on Hotel Revenue		(1.70%)
Line of Credit Facility, Maximum Borrowing Capacity	$ 5,000,000
Proceeds from Lines of Credit	$ 2,969,000
Debt Instrument, Description of Variable Rate Basis	LIBOR plus 3%
Debt Instrument, Basis Spread on Variable Rate	3.00%
Long-term Line of Credit, Noncurrent		$ 2,969,000
Mortgage Loans On Real Estate Outstanding Principal Balance		$ 94,090,000	$ 95,018,000
Mezzanine Loan [Member]
Basis Of Presentation And Significant Accounting Policies [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Face Amount of Mortgages				$ 20,000,000
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate		9.75%
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Final Maturity Date		Jan. 31, 2024
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate					$ 20,000,000
Portsmouth [Member]
Basis Of Presentation And Significant Accounting Policies [Line Items]
Equity Method Investment, Ownership Percentage		68.80%
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest		93.10%
Intergroup [Member]
Basis Of Presentation And Significant Accounting Policies [Line Items]
Equity Method Investment, Ownership Percentage		81.90%
Noncontrolling Interest, Ownership Percentage by Parent		13.40%
Woodland Village Inc [Member] | SantaFe [Member]
Basis Of Presentation And Significant Accounting Policies [Line Items]
Equity Method Investment, Ownership Percentage		55.40%

REVENUE (Details)

REVENUE (Details) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Hotel revenues:
Revenues	$ 15,550,000	$ 14,430,000	$ 45,518,000	$ 42,225,000
Hotel Rooms [Member]
Hotel revenues:
Revenues	13,521,000	11,714,000	38,608,000	34,266,000
Food And Beverage [Member]
Hotel revenues:
Revenues	1,218,000	1,748,000	4,232,000	5,121,000
Garage [Member]
Hotel revenues:
Revenues	652,000	756,000	2,160,000	2,272,000
Other Operating Departments [Member]
Hotel revenues:
Revenues	$ 78,000	$ 126,000	$ 276,000	$ 309,000

REVENUE (Details Textual)

REVENUE (Details Textual) - USD ($)	9 Months Ended
	Mar. 31, 2019	Jun. 30, 2018
Contract with Customer, Liability	$ 673,000	$ 571,000
Contract with Customer, Liability, Revenue Recognized	$ 560,000

INVESTMENT IN HOTEL, NET (Detai

INVESTMENT IN HOTEL, NET (Details) - USD ($)	Mar. 31, 2019	Jun. 30, 2018
Property, Plant and Equipment [Line Items]
Cost	$ 91,616,000	$ 91,044,000
Accumulated Depreciation	(55,421,000)	(53,685,000)
Net Book Value	36,195,000	37,359,000
Land [Member]
Property, Plant and Equipment [Line Items]
Cost	1,896,000	1,896,000
Accumulated Depreciation	0	0
Net Book Value	1,896,000	1,896,000
Furniture and equipment [Member]
Property, Plant and Equipment [Line Items]
Cost	30,379,000	29,350,000
Accumulated Depreciation	(26,632,000)	(25,877,000)
Net Book Value	3,747,000	3,473,000
Building and improvements [Member]
Property, Plant and Equipment [Line Items]
Cost	59,341,000	59,798,000
Accumulated Depreciation	(28,789,000)	(27,808,000)
Net Book Value	$ 30,552,000	$ 31,990,000

INVESTMENT IN REAL ESTATE, NE_2

INVESTMENT IN REAL ESTATE, NET (Details) - USD ($)	Mar. 31, 2019	Jun. 30, 2018
Property, Plant and Equipment [Line Items]
Land	$ 2,430,000	$ 2,430,000
Buildings, improvements and equipment	2,920,000	2,912,000
Accumulated depreciation	(1,435,000)	(1,354,000)
Real Estate Investment Property Net	3,915,000	3,988,000
Land held for development	973,000	973,000
Investment in real estate, net	$ 4,888,000	$ 4,961,000

INVESTMENT IN MARKETABLE SECU_3

INVESTMENT IN MARKETABLE SECURITIES (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018	Jun. 30, 2018
Investment - Corporate Equities
Gross Unrealized Loss			$ (665,000)	$ (1,667,000)
Net Unrealized Loss	$ 156,000	$ (79,000)	(531,000)	$ 89,000
Fair Value	3,316,000		3,316,000		$ 4,439,000
Equity Securities [Member]
Investment - Corporate Equities
Cost	11,736,000		11,736,000		12,187,000
Gross Unrealized Gain			305,000		721,000
Gross Unrealized Loss			(8,725,000)		(8,469,000)
Net Unrealized Loss			(8,420,000)		(7,748,000)
Fair Value	$ 3,316,000		$ 3,316,000		$ 4,439,000

INVESTMENT IN MARKETABLE SECU_4

INVESTMENT IN MARKETABLE SECURITIES (Details 1) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Debt and Equity Securities, FV-NI [Line Items]
Realized gain (loss) on marketable securities	$ (89,000)	$ 249,000	$ 201,000	$ 179,000
Unrealized (loss) gain on marketable securities	156,000	(79,000)	(531,000)	89,000
Unrealized gain (loss) on marketable securities related to Comstock	207,000	(376,000)	(134,000)	(1,756,000)
Net loss on marketable securities	$ 274,000	$ (206,000)	$ (464,000)	$ (1,488,000)

INVESTMENT IN MARKETABLE SECU_5

INVESTMENT IN MARKETABLE SECURITIES (Details Textual) - USD ($)	9 Months Ended	12 Months Ended
	Mar. 31, 2019	Jun. 30, 2018
Debt and Equity Securities, FV-NI [Line Items]
Trading Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss	$ 8,591,000	$ 8,433,000
Percentage Of Investment Marketable Securities	17.00%	16.00%
Unrealized Gain (Loss) on Investments	$ 8,503,000	$ 8,369,000

OTHER INVESTMENTS, NET (Details

OTHER INVESTMENTS, NET (Details) - USD ($)	Mar. 31, 2019	Jun. 30, 2018
Other Investment [Line Items]
Other investments, net	$ 351,000	$ 474,000
Other Investments [Member]
Other Investment [Line Items]
Other investments, net	118,000	130,000
Private equity hedge fund, at cost [Member]
Other Investment [Line Items]
Other investments, net	$ 233,000	$ 344,000

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($)	Mar. 31, 2019	Jun. 30, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment in marketable securities	$ 3,316,000	$ 4,439,000
Basic materials [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment in marketable securities	869,000	698,000
Consumer [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment in marketable securities	751,000	0
REITs and real estate companies [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment in marketable securities	407,000	1,484,000
Energy [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment in marketable securities	317,000	75,000
HealthCare [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment in marketable securities	277,000	838,000
Other [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment in marketable securities	$ 695,000	$ 1,344,000

FAIR VALUE MEASUREMENTS (Deta_2

FAIR VALUE MEASUREMENTS (Details 1) - USD ($)	9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Jun. 30, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other non-marketable investments	$ 351,000		$ 474,000
Net loss	(61,000)	$ (124,000)
Other Investments [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other non-marketable investments	$ 351,000		$ 474,000

FAIR VALUE MEASUREMENTS (Deta_3

FAIR VALUE MEASUREMENTS (Details Textual)	9 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Other Investments In Non marketable Securities Ownership Percentage	less than 20%

CASH, CASH EQUIVALENTS AND RE_3

CASH, CASH EQUIVALENTS AND RESTRICTED CASH (Details) - USD ($)	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2017
Cash and cash equivalents	$ 9,127,000	$ 7,647,000	$ 8,836,000	$ 7,270,000
Restricted cash	7,952,000	7,119,000
Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statement of cash flows	$ 17,079,000	$ 14,766,000

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details) - USD ($)	3 Months Ended						9 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Mar. 31, 2019	Mar. 31, 2018	Jun. 30, 2018
Recovery of legal settlement costs
Revenues	$ 15,550,000			$ 14,430,000			$ 45,518,000	$ 42,225,000
Segment income (loss)	3,143,000			2,684,000			9,179,000	7,043,000
Interest expense - mortgage	(1,838,000)			(1,813,000)			(5,562,000)	(5,564,000)
Loss on disposal of assets	(398,000)			0			(398,000)	0
Depreciation and amortization expense	(613,000)			(670,000)			(1,902,000)	(2,052,000)
Income tax expense (benefit)	(280,000)			101,000			(769,000)	(3,063,000)
Net income (loss)	746,000	$ (370,000)	$ 1,067,000	563,000	$ (4,452,000)	$ 85,000	1,443,000	(3,804,000)
Total assets	68,531,000						68,531,000		$ 70,503,000
Operating Segments [Member]
Recovery of legal settlement costs
Revenues	15,550,000			14,430,000			45,518,000	42,225,000
Segment operating expenses	(11,794,000)			(11,076,000)			(34,437,000)	(33,130,000)
Segment income (loss)	3,756,000			3,354,000			11,081,000	9,095,000
Interest expense - mortgage	(1,967,000)			(1,939,000)			(5,937,000)	(5,951,000)
Loss on disposal of assets	(398,000)						(398,000)
Depreciation and amortization expense	(613,000)			(670,000)			(1,902,000)	(2,052,000)
Loss from investments	248,000			(283,000)			(632,000)	(1,833,000)
Income tax expense (benefit)	(280,000)			101,000			(769,000)	(3,063,000)
Net income (loss)	746,000			563,000			1,443,000	(3,804,000)
Total assets	68,531,000						68,531,000
Hotel Operations [Member]
Recovery of legal settlement costs
Loss from investments	0
Hotel Operations [Member] | Operating Segments [Member]
Recovery of legal settlement costs
Revenues	15,469,000			14,344,000			45,276,000	41,968,000
Segment operating expenses	(11,378,000)			(10,573,000)			(33,424,000)	(31,905,000)
Segment income (loss)	4,091,000			3,771,000			11,852,000	10,063,000
Interest expense - mortgage	(1,941,000)			(1,918,000)			(5,733,000)	(5,885,000)
Loss on disposal of assets	(398,000)						(398,000)
Depreciation and amortization expense	(585,000)			(643,000)			(1,820,000)	(1,974,000)
Loss from investments				0			0	0
Income tax expense (benefit)	0			0			0	0
Net income (loss)	1,167,000			1,210,000			3,901,000	2,204,000
Total assets	54,620,000						54,620,000
Real Estate Operations [Member]
Recovery of legal settlement costs
Loss from investments	0
Real Estate Operations [Member] | Operating Segments [Member]
Recovery of legal settlement costs
Revenues	81,000			86,000			242,000	257,000
Segment operating expenses	(52,000)			(55,000)			(170,000)	(148,000)
Segment income (loss)	29,000			31,000			72,000	109,000
Interest expense - mortgage	(26,000)			(21,000)			(204,000)	(66,000)
Loss on disposal of assets	0						0
Depreciation and amortization expense	(28,000)			(27,000)			(82,000)	(78,000)
Loss from investments				0			0	0
Income tax expense (benefit)	0			0			0	0
Net income (loss)	(25,000)			(17,000)			(214,000)	(35,000)
Total assets	4,888,000						4,888,000
Investment Transactions [Member]
Recovery of legal settlement costs
Loss from investments	248,000
Investment Transactions [Member] | Operating Segments [Member]
Recovery of legal settlement costs
Revenues	0			0			0	0
Segment operating expenses	0			0			0	0
Segment income (loss)	0			0			0	0
Interest expense - mortgage	0			0			0	0
Loss on disposal of assets	0						0
Depreciation and amortization expense	0			0			0	0
Loss from investments				(283,000)			(632,000)	(1,833,000)
Income tax expense (benefit)	0			0			0	0
Net income (loss)	248,000			(283,000)			(632,000)	(1,833,000)
Total assets	3,667,000						3,667,000
Corporate [Member]
Recovery of legal settlement costs
Loss from investments	0
Corporate [Member] | Operating Segments [Member]
Recovery of legal settlement costs
Revenues	0			0			0	0
Segment operating expenses	(364,000)			(448,000)			(843,000)	(1,077,000)
Segment income (loss)	(364,000)			(448,000)			(843,000)	(1,077,000)
Interest expense - mortgage	0			0			0	0
Loss on disposal of assets	0						0
Depreciation and amortization expense	0			0			0	0
Loss from investments				0			0	0
Income tax expense (benefit)	(280,000)			101,000			(769,000)	(3,063,000)
Net income (loss)	(644,000)			$ (347,000)			(1,612,000)	$ (4,140,000)
Total assets	$ 5,356,000						$ 5,356,000

RELATED PARTY AND OTHER FINAN_3

RELATED PARTY AND OTHER FINANCING TRANSACTIONS (Details)	Mar. 31, 2019USD ($)
2019	$ 102,000
2020	405,000
2021	405,000
2022	397,000
2023	90,000
Total minimum lease payments	1,399,000
Less interest on capital lease	(143,000)
Present value of future minimum lease payments	$ 1,256,000

RELATED PARTY AND OTHER FINAN_4

RELATED PARTY AND OTHER FINANCING TRANSACTIONS (Details1) - Related Party And Other Financing Transactions [Member]	Mar. 31, 2019USD ($)
2019	$ 3,383,000
2020	909,000
2021	930,000
2022	946,000
2023	655,000
Thereafter	2,796,000
Long-term Debt	$ 9,619,000

RELATED PARTY AND OTHER FINAN_5

RELATED PARTY AND OTHER FINANCING TRANSACTIONS (Details Textual) - USD ($)	Feb. 03, 2017	Jul. 31, 2018	Jul. 02, 2014	Mar. 31, 2019	Jun. 30, 2018	Sep. 30, 2017	May 12, 2017	Apr. 30, 2017
Schedule Of Related Party Transactions By Related Party [Line Items]
Capital Lease Obligations				$ 1,256,000	$ 1,355,000
Key Money Incentive Advance To Related Party				$ 2,000,000
Management Agreement Term For Managing Hotel	10 years
Long Term Debt Expiration Terms				capital leases expire in various years through 2023 at rates ranging from 5.77% to 6.53% per annum
Other Notes Payable				$ 8,363,000	8,641,000
Restricted Cash And Related Party Note Payable				2,000,000	2,000,000
Payment for Management Fee				1,550,000
Accounts Payable, Related Parties						$ 116,000
Management Fee Payable					200,000
Line of Credit Facility, Maximum Borrowing Capacity		$ 5,000,000
Proceeds from Lines of Credit		$ 2,969,000
Debt Instrument, Description of Variable Rate Basis		LIBOR plus 3%
Debt Instrument, Basis Spread on Variable Rate		3.00%
Long-term Line of Credit, Noncurrent				2,969,000
Intergroup Corporation [Member]
Schedule Of Related Party Transactions By Related Party [Line Items]
Debt Instrument, Interest Rate, Stated Percentage								5.00%
Debt Instrument, Face Amount								$ 1,000,000
Mortage loans [Member]
Schedule Of Related Party Transactions By Related Party [Line Items]
Guarantor Obligations, Current Carrying Value							$ 97,000,000
Mezzanine Loan [Member]
Schedule Of Related Party Transactions By Related Party [Line Items]
Guarantor Obligations, Current Carrying Value							$ 20,000,000
Unsecured Debt [Member]
Schedule Of Related Party Transactions By Related Party [Line Items]
Other Notes Payable				3,000,000
Intergroup [Member]
Schedule Of Related Party Transactions By Related Party [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			12.00%
Debt Instrument, Face Amount			$ 4,250,000
Debt Instrument Fee Percent			3.00%
Debt Instrument, Term			2 years
Interest Free Development Incentive Note [Member]
Schedule Of Related Party Transactions By Related Party [Line Items]
Notes Reduction				316,000
Other Notes Payable				$ 3,404,000	$ 3,642,000
Maximum [Member] | Capital Lease Obligations [Member]
Schedule Of Related Party Transactions By Related Party [Line Items]
Debt Instrument, Interest Rate, Stated Percentage				6.53%
Minimum [Member] | Capital Lease Obligations [Member]
Schedule Of Related Party Transactions By Related Party [Line Items]
Debt Instrument, Interest Rate, Stated Percentage				5.77%