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Portsmouth Square Inc. – ‘10-K’ for 6/30/22 – ‘XML’

On:  Wednesday, 9/28/22, at 3:26pm ET   ·   For:  6/30/22   ·   Accession #:  1493152-22-27008   ·   File #:  0-04057

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 9/28/22  Portsmouth Square Inc.            10-K        6/30/22   80:5.6M                                   M2 Compliance LLC/FA

Annual Report   —   Form 10-K

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   1.21M 
 2: EX-14       Code of Ethics                                      HTML     23K 
 3: EX-31.1     Certification -- §302 - SOA'02                      HTML     24K 
 4: EX-31.2     Certification -- §302 - SOA'02                      HTML     24K 
 5: EX-32.1     Certification -- §906 - SOA'02                      HTML     22K 
 6: EX-32.2     Certification -- §906 - SOA'02                      HTML     22K 
12: R1          Cover                                               HTML     84K 
13: R2          Consolidated Balance Sheets                         HTML    110K 
14: R3          Consolidated Balance Sheets (Parenthetical)         HTML     29K 
15: R4          Consolidated Statements of Operations               HTML    108K 
16: R5          Consolidated Statements of Shareholders' Deficit    HTML     56K 
17: R6          Consolidated Statements of Cash Flows               HTML    111K 
18: R7          Business and Significant Accounting Policies and    HTML     68K 
                Practices                                                        
19: R8          Liquidity                                           HTML     61K 
20: R9          Revenue                                             HTML     43K 
21: R10         Investment in Hotel, Net                            HTML     44K 
22: R11         Investment in Real Estate                           HTML     27K 
23: R12         Investment in Marketable Securities                 HTML     47K 
24: R13         Fair Value Measurements                             HTML     49K 
25: R14         Other Assets                                        HTML     27K 
26: R15         Related Party and Other Financing Transactions      HTML     62K 
27: R16         Mortgage Notes Payable                              HTML     50K 
28: R17         Management Agreements                               HTML     27K 
29: R18         Concentration of Credit Risk                        HTML     28K 
30: R19         Income Taxes                                        HTML     61K 
31: R20         Segment Information                                 HTML     62K 
32: R21         Related Party Transactions                          HTML     31K 
33: R22         Commitments and Contingencies                       HTML     35K 
34: R23         Subsequent Events                                   HTML     24K 
35: R24         Business and Significant Accounting Policies and    HTML    111K 
                Practices (Policies)                                             
36: R25         Liquidity (Tables)                                  HTML     44K 
37: R26         Revenue (Tables)                                    HTML     29K 
38: R27         Investment in Hotel, Net (Tables)                   HTML     43K 
39: R28         Investment in Marketable Securities (Tables)        HTML     42K 
40: R29         Fair Value Measurements (Tables)                    HTML     47K 
41: R30         Other Assets (Tables)                               HTML     27K 
42: R31         Related Party and Other Financing Transactions      HTML     36K 
                (Tables)                                                         
43: R32         Mortgage Notes Payable (Tables)                     HTML     38K 
44: R33         Income Taxes (Tables)                               HTML     55K 
45: R34         Segment Information (Tables)                        HTML     57K 
46: R35         Business and Significant Accounting Policies and    HTML     76K 
                Practices (Details Narrative)                                    
47: R36         Schedule of Financial Obligations Including         HTML     56K 
                Interest Payments (Details)                                      
48: R37         Liquidity (Details Narrative)                       HTML     66K 
49: R38         Schedule of Revenue Disaggregation by Revenue       HTML     35K 
                Streams (Details)                                                
50: R39         Revenue (Details Narrative)                         HTML     23K 
51: R40         Schedule of Investment in Hotel, Net (Details)      HTML     39K 
52: R41         Investment in Real Estate (Details Narrative)       HTML     30K 
53: R42         Schedule of Changes in Unrealized Gains and Losses  HTML     34K 
                on Investments (Details)                                         
54: R43         Schedule of Net (Loss) Gain on Marketable           HTML     31K 
                Securities (Details)                                             
55: R44         Investment in Marketable Securities (Details        HTML     31K 
                Narrative)                                                       
56: R45         Schedule of Fair Value, Assets Measured on          HTML     44K 
                Recurring Basis (Details)                                        
57: R46         Schedule of Fair Value, Assets Measured on          HTML     28K 
                Nonrecurring Basis (Details)                                     
58: R47         Fair Value Measurements (Details Narrative)         HTML     22K 
59: R48         Schedule of Other Assets (Details)                  HTML     30K 
60: R49         Schedule of Related Party and Other Notes Payable   HTML     33K 
                (Details)                                                        
61: R50         Schedule of Future Minimum Principal Payments       HTML     45K 
                (Details)                                                        
62: R51         Related Party and Other Financing Transactions      HTML    110K 
                (Details Narrative)                                              
63: R52         Schedule of Mortgages (Details)                     HTML     41K 
64: R53         Schedule of Mortgage Notes Payable Future Minimum   HTML     30K 
                Principle Payments (Details)                                     
65: R54         Mortgage Notes Payable (Details Narrative)          HTML     48K 
66: R55         Management Agreements (Details Narrative)           HTML     35K 
67: R56         Concentration of Credit Risk (Details Narrative)    HTML     32K 
68: R57         Schedule of Provision for Income Tax (Expense)      HTML     42K 
                Benefit (Details)                                                
69: R58         Schedule of Statutory Federal Income Tax Rate       HTML     39K 
                (Details)                                                        
70: R59         Schedule of Deferred Tax Assets and Liabilities     HTML     49K 
                (Details)                                                        
71: R60         Income Taxes (Details Narrative)                    HTML     41K 
72: R61         Schedule of Segment Reporting Information, by       HTML     91K 
                Segment (Details)                                                
73: R62         Segment Information (Details Narrative)             HTML     23K 
74: R63         Related Party Transactions (Details Narrative)      HTML     41K 
75: R64         Commitments and Contingencies (Details Narrative)   HTML     29K 
78: XML         IDEA XML File -- Filing Summary                      XML    140K 
76: XML         XBRL Instance -- form10-k_htm                        XML   1.15M 
77: EXCEL       IDEA Workbook of Financial Reports                  XLSX    133K 
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10: EX-101.LAB  XBRL Labels -- prsi-20220630_lab                     XML    990K 
11: EX-101.PRE  XBRL Presentations -- prsi-20220630_pre              XML    739K 
 7: EX-101.SCH  XBRL Schema -- prsi-20220630                         XSD    164K 
79: JSON        XBRL Instance as JSON Data -- MetaLinks              378±   527K 
80: ZIP         XBRL Zipped Folder -- 0001493152-22-027008-xbrl      Zip    278K

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<us-gaap:IncreaseDecreaseInAccountsReceivable contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> -57000 </us-gaap:IncreaseDecreaseInAccountsReceivable>
<us-gaap:IncreaseDecreaseInOtherOperatingAssets contextRef="From2021-07-01to2022-06-30" decimals="0" unitRef="USD"> 151000 </us-gaap:IncreaseDecreaseInOtherOperatingAssets>
<us-gaap:IncreaseDecreaseInOtherOperatingAssets contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> -130000 </us-gaap:IncreaseDecreaseInOtherOperatingAssets>
<PRSI:IncreaseDecreaseInAccountsPayableAndOtherLiabilities contextRef="From2021-07-01to2022-06-30" decimals="0" unitRef="USD"> 867000 </PRSI:IncreaseDecreaseInAccountsPayableAndOtherLiabilities>
<PRSI:IncreaseDecreaseInAccountsPayableAndOtherLiabilities contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> -148000 </PRSI:IncreaseDecreaseInAccountsPayableAndOtherLiabilities>
<us-gaap:IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities contextRef="From2021-07-01to2022-06-30" decimals="0" unitRef="USD"> 45000 </us-gaap:IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities>
<us-gaap:IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> -65000 </us-gaap:IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities>
<us-gaap:IncreaseDecreaseInAccountsPayableRelatedParties contextRef="From2021-07-01to2022-06-30" decimals="0" unitRef="USD"> 1715000 </us-gaap:IncreaseDecreaseInAccountsPayableRelatedParties>
<us-gaap:IncreaseDecreaseInAccountsPayableRelatedParties contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> 808000 </us-gaap:IncreaseDecreaseInAccountsPayableRelatedParties>
<PRSI:IncreaseDecreaseInDueToSecuritiesBroker contextRef="From2021-07-01to2022-06-30" decimals="0" unitRef="USD"> -1585000 </PRSI:IncreaseDecreaseInDueToSecuritiesBroker>
<PRSI:IncreaseDecreaseInDueToSecuritiesBroker contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> 1715000 </PRSI:IncreaseDecreaseInDueToSecuritiesBroker>
<us-gaap:NetCashProvidedByUsedInOperatingActivities contextRef="From2021-07-01to2022-06-30" decimals="0" unitRef="USD"> -2761000 </us-gaap:NetCashProvidedByUsedInOperatingActivities>
<us-gaap:NetCashProvidedByUsedInOperatingActivities contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> -10687000 </us-gaap:NetCashProvidedByUsedInOperatingActivities>
<us-gaap:PaymentsToAcquirePropertyPlantAndEquipment contextRef="From2021-07-01to2022-06-30" decimals="0" unitRef="USD"> 1926000 </us-gaap:PaymentsToAcquirePropertyPlantAndEquipment>
<us-gaap:PaymentsToAcquirePropertyPlantAndEquipment contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> 1068000 </us-gaap:PaymentsToAcquirePropertyPlantAndEquipment>
<PRSI:PaymentsForInvestmentInJustice contextRef="From2021-07-01to2022-06-30" decimals="0" unitRef="USD"> 344000 </PRSI:PaymentsForInvestmentInJustice>
<PRSI:PaymentsForInvestmentInJustice contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> 696000 </PRSI:PaymentsForInvestmentInJustice>
<us-gaap:PaymentsForProceedsFromRealEstateHeldforinvestment contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> -980000 </us-gaap:PaymentsForProceedsFromRealEstateHeldforinvestment>
<us-gaap:ProceedsFromSaleAndMaturityOfOtherInvestments contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> 29000 </us-gaap:ProceedsFromSaleAndMaturityOfOtherInvestments>
<us-gaap:NetCashProvidedByUsedInInvestingActivities contextRef="From2021-07-01to2022-06-30" decimals="0" unitRef="USD"> -2270000 </us-gaap:NetCashProvidedByUsedInInvestingActivities>
<us-gaap:NetCashProvidedByUsedInInvestingActivities contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> -755000 </us-gaap:NetCashProvidedByUsedInInvestingActivities>
<us-gaap:ProceedsFromRelatedPartyDebt contextRef="From2021-07-01to2022-06-30" decimals="0" unitRef="USD"> 7550000 </us-gaap:ProceedsFromRelatedPartyDebt>
<us-gaap:ProceedsFromRelatedPartyDebt contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> 3650000 </us-gaap:ProceedsFromRelatedPartyDebt>
<PRSI:PaymentOfMortgageAndFinanceLeasesNet contextRef="From2021-07-01to2022-06-30" decimals="0" unitRef="USD"> 2113000 </PRSI:PaymentOfMortgageAndFinanceLeasesNet>
<PRSI:PaymentOfMortgageAndFinanceLeasesNet contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> 2011000 </PRSI:PaymentOfMortgageAndFinanceLeasesNet>
<PRSI:IssuanceCostFromRefinanceOfRelatedPartyLoan contextRef="From2021-07-01to2022-06-30" decimals="0" unitRef="USD"> 50000 </PRSI:IssuanceCostFromRefinanceOfRelatedPartyLoan>
<PRSI:IssuanceCostFromRefinanceOfRelatedPartyLoan contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> 50000 </PRSI:IssuanceCostFromRefinanceOfRelatedPartyLoan>
<PRSI:ProceedsFromLoan contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> 2000000 </PRSI:ProceedsFromLoan>
<us-gaap:NetCashProvidedByUsedInFinancingActivities contextRef="From2021-07-01to2022-06-30" decimals="0" unitRef="USD"> 5387000 </us-gaap:NetCashProvidedByUsedInFinancingActivities>
<us-gaap:NetCashProvidedByUsedInFinancingActivities contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> 3589000 </us-gaap:NetCashProvidedByUsedInFinancingActivities>
<us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect contextRef="From2021-07-01to2022-06-30" decimals="0" unitRef="USD"> 356000 </us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect>
<us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> -7853000 </us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect>
<us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations contextRef="AsOf2021-06-30" decimals="0" unitRef="USD"> 8532000 </us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations>
<us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations contextRef="AsOf2020-06-30" decimals="0" unitRef="USD"> 16385000 </us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations>
<us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 8888000 </us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations>
<us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations contextRef="AsOf2021-06-30" decimals="0" unitRef="USD"> 8532000 </us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations>
<us-gaap:InterestPaidNet contextRef="From2021-07-01to2022-06-30" decimals="0" unitRef="USD"> 6590000 </us-gaap:InterestPaidNet>
<us-gaap:InterestPaidNet contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> 6720000 </us-gaap:InterestPaidNet>
<us-gaap:IncomeTaxesPaidNet contextRef="From2021-07-01to2022-06-30" decimals="0" unitRef="USD"> 27000 </us-gaap:IncomeTaxesPaidNet>
<us-gaap:IncomeTaxesPaidNet contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> 23000 </us-gaap:IncomeTaxesPaidNet>
<PRSI:AdditionsToHotelEquipmentThroughFinanceLeases contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> 30000 </PRSI:AdditionsToHotelEquipmentThroughFinanceLeases>
<us-gaap:BasisOfPresentationAndSignificantAccountingPoliciesTextBlock contextRef="From2021-07-01to2022-06-30">
<p id="xdx_802_eus-gaap--BasisOfPresentationAndSignificantAccountingPoliciesTextBlock_z2AmH1mc8AX4" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="m_019"/>NOTE 1 - <span id="xdx_82F_znMDWaUbRZcl">BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES AND PRACTICES</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_847_eus-gaap--BusinessDescriptionAndAccountingPoliciesTextBlock_zWFFPm9fGeUj" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_868_zSQCaauurMhd">Description of Business</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 <span id="xdx_900_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20210714__20210715__srt--OwnershipAxis__custom--JusticeInvestorsLimitedPartnershipMember_zjzEBR3sL5O" title="Subsidiary of limited liability company or limited partnership, ownership interest">100</span>% of the limited partnership interest of Justice through the acquisition of the remaining <span id="xdx_902_eus-gaap--MinorityInterestOwnershipPercentageByNoncontrollingOwners_iI_pid_dp_uPure_c20210715__srt--OwnershipAxis__custom--JusticeInvestorsLimitedPartnershipMember_ztnwgWhJmX1b" title="Remaining non-controlling interest">0.7</span>% non-controlling interest. Effective December 23, 2021, the partnership was dissolved. The financial statements of Justice were consolidated with those of the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prior to its dissolution effective December 23, 2021, Justice owned and operated a 544-room hotel property located at 750 Kearny Street, San Francisco California, known as the Hilton San Francisco Financial District (the “Hotel”) and related facilities including a five-level underground parking garage through its subsidiaries Justice Operating Company, LLC (“Operating”) and Justice Mezzanine Company, LLC (“Mezzanine”). Mezzanine was a wholly owned subsidiary of the Partnership; Operating is a wholly owned subsidiary of Mezzanine. Effective December 23, 2021, Portsmouth replaced Justice as the single member of Mezzanine. Mezzanine is the borrower under certain mezzanine indebtedness of Justice, and in December 2013, the Partnership conveyed ownership of the Hotel to Operating. The Hotel is a full-service Hilton brand hotel pursuant to a Franchise License Agreement with HLT Franchise Holding LLC (“Hilton”) through January 31, 2030.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Operating entered into a hotel management agreement (“HMA”) with Aimbridge Hospitality (“Aimbridge”) to manage the Hotel, along with its five-level parking garage, with an effective date of February 3, 2017. The term of the management agreement is for an initial period of <span id="xdx_901_eus-gaap--LesseeOperatingLeaseRenewalTerm_iI_dc_c20170203_zHMxB8mYIbv8" title="Managment agreement term">ten years</span> commencing on the February 3, 2017 date and <span id="xdx_909_eus-gaap--LesseeOperatingLeaseOptionToExtend_c20170202__20170203_z54a3Jd10VG4" title="Option to extend">automatically renews for successive one (1) year periods, not to exceed five years in the aggregate, subject to certain conditions</span>. Under the terms on the HMA, base management fee payable to Aimbridge shall be one and seven-tenths percent (<span id="xdx_909_ecustom--PercentageOfManagementFeePayable_pid_dp_uPure_c20170202__20170203_zrzWc30HG04c" title="Percentage of management fee payable">1.70%</span>) of total Hotel revenue.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of June 30, 2022, The InterGroup Corporation (“InterGroup”), a public company, owns approximately <span id="xdx_901_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20220630__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InterGroupCorporationMember_zyf7iLk5Exll" title="Ownership percentage">75.0</span>% of the outstanding common shares of Portsmouth. As of June 30, 2022, the Company’s Chairman of the Board and Chief Executive Officer, John V. Winfield, owns approximately <span id="xdx_907_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20220630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SantaFeFinancialCorporationMember__srt--TitleOfIndividualAxis__custom--JohnVWinfieldMember_z6EQD7M6Hyra" title="Ownership percentage">2.5</span>% of the outstanding common shares of the Company. Mr. Winfield also serves as the President, Chairman of the Board and Chief Executive Officer of InterGroup and owns approximately <span id="xdx_90D_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20220630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SantaFeFinancialCorporationMember__dei--LegalEntityAxis__custom--InterGroupCorporationMember__srt--TitleOfIndividualAxis__custom--JohnVWinfieldMember_zxadeseMYXui" title="Ownership percentage">67.8</span>% of the outstanding common shares of InterGroup as of June 30, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84D_eus-gaap--ConsolidationPolicyTextBlock_z7N8zrXDHYwj" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_860_ziHh7gGMxF3b">Principles of Consolidation</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The consolidated financial statements include the accounts of the Company and Justice up to its dissolution in December 2021 at which time all subsidiaries of Justice became subsidiaries of Portsmouth as the Company replaced Justice as the single member of Justice’s subsidiaries where appropriate. All significant inter-company transactions and balances have been eliminated.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_846_eus-gaap--InvestmentPolicyTextBlock_z7co5qQeqyBd" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86E_z21WBxHajelj">Investment in Hotel, Net</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36.7pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property and equipment are stated at cost. Building improvements are depreciated on a straight-line basis over their useful lives ranging from<span id="xdx_901_eus-gaap--PropertyPlantAndEquipmentUsefulLife_dtY_c20210701__20220630__srt--MortgageLoansOnRealEstateLoanTypeAxis__srt--HotelMember__srt--RangeAxis__srt--MinimumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--BuildingImprovementsMember_z56v4q1KMx56" title="Property, plant and equipment, useful life"> 3</span> to <span id="xdx_90C_eus-gaap--PropertyPlantAndEquipmentUsefulLife_dtY_c20210701__20220630__srt--MortgageLoansOnRealEstateLoanTypeAxis__srt--HotelMember__srt--RangeAxis__srt--MaximumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--BuildingImprovementsMember_zLGOItQunx2l" title="Property, plant and equipment, useful life">39</span> years. Furniture, fixtures, and equipment are depreciated on a straight-line basis over their useful lives ranging from <span id="xdx_900_eus-gaap--PropertyPlantAndEquipmentUsefulLife_dtY_c20210701__20220630__srt--MortgageLoansOnRealEstateLoanTypeAxis__srt--HotelMember__srt--RangeAxis__srt--MinimumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zk5Qo2RlCA21" title="Property, plant and equipment, useful life">3</span> to <span id="xdx_906_eus-gaap--PropertyPlantAndEquipmentUsefulLife_dtY_c20210701__20220630__srt--MortgageLoansOnRealEstateLoanTypeAxis__srt--HotelMember__srt--RangeAxis__srt--MaximumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zbXQT8swsllh" title="Property, plant and equipment, useful life">7</span> years.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Repairs and maintenance are charged to expense as incurred. Costs of significant renewals and improvements are capitalized and depreciated over the shorter of its remaining estimated useful life or life of the asset. The cost of assets sold or retired and the related accumulated depreciation are removed from the accounts; any resulting gain or loss is included in other income (expenses).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company reviews property and equipment for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable in accordance with generally accepted accounting principles (“GAAP”). If the carrying amount of the asset, including any intangible assets associated with that asset, exceeds its estimated undiscounted net cash flow, before interest, the Company will recognize an impairment loss equal to the difference between the assets’ carrying amount and its estimated fair value. If impairment is recognized, the reduced carrying amount of the asset will be accounted for as its new cost. For a depreciable asset, the new cost will be depreciated over the asset’s remaining useful life. Generally, fair values are estimated using discounted cash flow, replacement cost or market comparison analyses. The process of evaluating for impairment requires estimates as to future events and conditions, which are subject to varying market and economic factors. Therefore, it is reasonably possible that a change in estimate resulting from judgments as to future events could occur which would affect the recorded amounts of the property. <span id="xdx_901_eus-gaap--ImpairmentLossesRelatedToRealEstatePartnerships_pp0p0_do_c20210701__20220630__srt--MortgageLoansOnRealEstateLoanTypeAxis__srt--HotelMember_zVUAhOLl2kKf" title="Impairment losses"><span id="xdx_90D_eus-gaap--ImpairmentLossesRelatedToRealEstatePartnerships_pp0p0_do_c20200701__20210630__srt--MortgageLoansOnRealEstateLoanTypeAxis__srt--HotelMember_zCDdunwSOUM5" title="Impairment losses">No</span></span> impairment losses were recorded for the years ended June 30, 2022 and 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_849_eus-gaap--MarketableSecuritiesPolicy_z1prVr3fV191" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_866_zMGoOTOAq8C2">Investment in Marketable Securities</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marketable securities are stated at fair value as determined by the most recently traded price of each security at the balance sheet date. Marketable securities are classified as trading securities with all unrealized gains and losses on the Company’s investment portfolio recorded through the consolidated statements of operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84C_eus-gaap--CashAndCashEquivalentsPolicyTextBlock_zPFNjrZkyzmk" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86C_zXKV1Ki662E">Cash and Cash Equivalents</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash equivalents consist of highly liquid investments with an original maturity of three months or less when purchased and are carried at cost, which approximates fair value. As of June 30, 2022 and 2021, the Company does <span id="xdx_90F_eus-gaap--CashEquivalentsAtCarryingValue_iI_do_c20220630_z8os7T3eYjza" title="Cash equivalents"><span id="xdx_901_eus-gaap--CashEquivalentsAtCarryingValue_iI_do_c20210630_zCMqOFb7hMri">no</span></span>t have any cash equivalents.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_841_eus-gaap--CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_ziG6gsizWcp" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_866_zWGxi0wZ5HY1">Restricted Cash</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 Aimbridge that is restricted for capital improvements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84B_eus-gaap--ReceivablesPolicyTextBlock_zzKb4PhjV875" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_860_zHcItGHm7LP9">Accounts Receivable - Hotel, Net</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounts receivable from Hotel customers are carried at cost less an allowance for doubtful accounts that is based on management’s assessment of the collectability of accounts receivable. The net accounts receivable balance on July 1, 2020 was $<span id="xdx_90D_eus-gaap--ReceivablesNetCurrent_iI_c20200701_z3nivUXN6O88" title="Accounts receivable">251,000</span>. As of June 30, 2022 and 2021, the Company has gross accounts receivable of $<span id="xdx_903_eus-gaap--ReceivablesNetCurrent_iI_pp0p0_c20220630_zVhAc4KABpTj" title="Accounts receivable">392,000</span> and $<span id="xdx_905_eus-gaap--ReceivablesNetCurrent_iI_pp0p0_c20210630_ziIM7ddBxMMa" title="Accounts receivable">211,000</span> respectively, and allowance for doubtful accounts of $<span id="xdx_907_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iI_pp0p0_c20220630_zBE30qMwDQG9" title="Allowance for doubtful accounts">15,000</span> and $<span id="xdx_90E_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iI_pp0p0_c20210630_zKtKImAnueCc" title="Allowance for doubtful accounts">17,000</span>, respectively. The Company extends unsecured credit to its customers but mitigates the associated credit risk by performing ongoing credit evaluations of its customers.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_846_ecustom--OtherAssetsNetPolicyTextBlock_zxUzBTqKp3Ij" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86F_zw54Q1JdAODi">Other Assets</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other assets include prepaid insurance, estimated life insurance proceeds, prepaid expenses, other investments, net, and other miscellaneous assets. Other investments include non-marketable securities (carried at cost, net of any impairments loss). The Company has no significant influence or control over the entities that issue these 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. For the years ended June 30, 2022 and 2021, the Company recorded impairment losses related to other investments of $<span id="xdx_90D_eus-gaap--ImpairmentOfInvestments_pp0p0_c20210701__20220630_zHpP0zLnvPdg" title="Impairment losses on other investments">20,000</span> and $<span id="xdx_903_eus-gaap--ImpairmentOfInvestments_pp0p0_c20200701__20210630_ztIowHjheoe5" title="Impairment losses on other investments">38,000</span>, respectively. As of June 30, 2022 and 2021, cumulative impairment losses were $<span id="xdx_90F_ecustom--CumulativeImpairmentLosses_pp0p0_c20210701__20220630_zMda8N2QeFFi" title="Cumulative impairment losses">2,269,000</span> and $<span id="xdx_90B_ecustom--CumulativeImpairmentLosses_pp0p0_c20200701__20210630_zAnDrVzi1Bhd" title="Cumulative impairment losses">2,249,000</span>, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84D_eus-gaap--IncomeTaxPolicyTextBlock_zcbhy61HZLvg" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_867_znXrv2f2ifO6">Income Taxes</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company consolidated Justice (“Hotel”) for financial reporting purposes up to its dissolution in December 2021 and was not taxed on its non-controlling interest in the Hotel. Effective July 15, 2021, the Company become the owner of 100% of Justice and began to include all the Hotel’s income and expense accounts into its income taxes calculations. The income tax expense or benefit during the fiscal years ended June 30, 2022 and 2021, respectively, represent the income tax effect on the Company’s pretax loss which includes its share in the net loss of the Hotel accordingly.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deferred income taxes are calculated under the liability method. Deferred income tax assets and liabilities are based on differences between the financial statement and tax basis of assets and liabilities at the current enacted tax rates. Changes in deferred income tax assets and liabilities are included as a component of income tax expense. Changes in deferred income tax assets and liabilities attributable to changes in enacted tax rates are charged or credited to income tax expense in the period of enactment. Valuation allowances are established for certain deferred tax assets where realization is not likely.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We have considered the income tax accounting and disclosure implications of the relief provided by the Coronavirus Aid, Relief, and Economic Security (CARES) Act enacted on March 27, 2020, and the American Rescue Plan Act enacted on March 11, 2021. The effect of tax law changes is required to be recognized either in the interim period in which the legislation is enacted or reflected in the computation of the annual effective tax rate, depending on the nature of the change. As of June 30, 2022 and 2021, we evaluated the income tax provisions of the CARES Act and the American Rescue Plan Act and have determined there to be no material effect on the fiscal years’ tax provision. We will continue to evaluate the income tax provisions of both acts and monitor the tax law changes that could have income tax accounting and disclosure implications.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company accounts for its uncertain tax positions pursuant to <i>ASC 740, Income Taxes.</i> This guidance prescribes a recognition threshold and measurement attribute for financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. The Company believes its income tax filing positions and deductions will be sustained upon examination and that there are no significant uncertain tax positions. Further, any interest or penalties associated with uncertain tax positions shall be recorded in the income tax provision. As of June 30, 2022 there were no uncertain tax positions or any associated penalties and interest.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84C_ecustom--DueToSecuritiesBrokerPolicyTextBlock_zoa8uRImuc4" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86B_z11fIDvIHDCf">Due to Securities Broker</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_843_ecustom--AccountsPayableAndOtherLiabilitiesPolicyTextBlock_zj3ZlF0IRgwk" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_863_zFmOiUAZhcg2">Accounts Payable and Other Liabilities</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounts payable and other liabilities include trade payables, advance customer deposits, accrued wages, accrued real estate taxes, and other liabilities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_845_eus-gaap--FairValueOfFinancialInstrumentsPolicy_zevby2DQ4nWe" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86C_zat7ZDS3GSmk">Fair Value of Financial Instruments</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date. Accounting standards for fair value measurement establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The hierarchy is broken down into three levels based on the observability of inputs as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Level 1</i>–inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Level 2</i>–inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liability, either directly or indirectly, for substantially the full term of the financial instruments.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Level 3</i>–inputs to the valuation methodology are unobservable and significant to the fair value.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"/> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84A_eus-gaap--RevenueFromContractWithCustomerPolicyTextBlock_zeyYOrZnCZpk" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86D_ziePZ7F3lq44">Revenue Recognition</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 1, 2018, we adopted ASC 606, <i>Revenue from Contracts with Customers</i>, 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. See Note 3 – Revenue.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_84F_eus-gaap--AdvertisingCostsPolicyTextBlock_zsqsCDrnmyHj" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_865_zAdcGnIo7aF1">Advertising Costs</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Advertising costs are expensed as incurred and are included in Hotel operating expenses in the consolidated statements of operations. Advertising costs were $<span id="xdx_90F_eus-gaap--AdvertisingExpense_pp0p0_c20210701__20220630_zDlwc44G21B3" title="Advertising expense">61,000</span> and $<span id="xdx_908_eus-gaap--AdvertisingExpense_pp0p0_c20200701__20210630_zgYiasQrewZc" title="Advertising expense">110,000</span> for the years ended June 30, 2022 and 2021, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_847_eus-gaap--EarningsPerSharePolicyTextBlock_zNDu98MQfCyg" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_868_zamAdu8DUsRd">Basic and Diluted Loss per Share</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic loss per share is calculated based upon the weighted average number of common shares outstanding during each fiscal year. As of June 30, 2022 and 2021, the Company did not have any potentially dilutive securities outstanding.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84E_eus-gaap--UseOfEstimates_zpXXfrCtnNS2" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_861_zFERMCgmkCUh">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) requires the use of estimates and assumptions regarding certain types of assets, liabilities, revenues, and expenses. Such estimates primarily relate to the recording of allowance for doubtful accounts which are based on management’s assessment of the collectability of accounts receivable, as of the end of the fiscal year. Actual results may differ from those estimates. Management considers new evidence, both positive and negative, that could affect its view of the future realization of deferred tax assets and when appropriate, records tax valuation allowances based on that evidence and estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84A_ecustom--DebtIssuanceCostsPolicyTextBlock_zOfiUjzBPQi9" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86C_z5IvxiR5Amf2">Debt Issuance Costs</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Debt issuance costs related to a recognized debt liability are presented in the consolidated balance sheets as a direct deduction from the carrying amount of the debt liability and are amortized over the life of the debt. Loan amortization costs are included in interest expense in the consolidated statement of operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_843_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zE9YbVtqdKeh" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_860_zXRgf1sFX1kg">Recently Issued and Adopted Accounting Pronouncements</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of June 30, 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 consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p>
</us-gaap:BasisOfPresentationAndSignificantAccountingPoliciesTextBlock>
<us-gaap:BusinessDescriptionAndAccountingPoliciesTextBlock contextRef="From2021-07-01to2022-06-30">
<p id="xdx_847_eus-gaap--BusinessDescriptionAndAccountingPoliciesTextBlock_zWFFPm9fGeUj" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_868_zSQCaauurMhd">Description of Business</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 <span id="xdx_900_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_pid_dp_uPure_c20210714__20210715__srt--OwnershipAxis__custom--JusticeInvestorsLimitedPartnershipMember_zjzEBR3sL5O" title="Subsidiary of limited liability company or limited partnership, ownership interest">100</span>% of the limited partnership interest of Justice through the acquisition of the remaining <span id="xdx_902_eus-gaap--MinorityInterestOwnershipPercentageByNoncontrollingOwners_iI_pid_dp_uPure_c20210715__srt--OwnershipAxis__custom--JusticeInvestorsLimitedPartnershipMember_ztnwgWhJmX1b" title="Remaining non-controlling interest">0.7</span>% non-controlling interest. Effective December 23, 2021, the partnership was dissolved. The financial statements of Justice were consolidated with those of the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prior to its dissolution effective December 23, 2021, Justice owned and operated a 544-room hotel property located at 750 Kearny Street, San Francisco California, known as the Hilton San Francisco Financial District (the “Hotel”) and related facilities including a five-level underground parking garage through its subsidiaries Justice Operating Company, LLC (“Operating”) and Justice Mezzanine Company, LLC (“Mezzanine”). Mezzanine was a wholly owned subsidiary of the Partnership; Operating is a wholly owned subsidiary of Mezzanine. Effective December 23, 2021, Portsmouth replaced Justice as the single member of Mezzanine. Mezzanine is the borrower under certain mezzanine indebtedness of Justice, and in December 2013, the Partnership conveyed ownership of the Hotel to Operating. The Hotel is a full-service Hilton brand hotel pursuant to a Franchise License Agreement with HLT Franchise Holding LLC (“Hilton”) through January 31, 2030.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Operating entered into a hotel management agreement (“HMA”) with Aimbridge Hospitality (“Aimbridge”) to manage the Hotel, along with its five-level parking garage, with an effective date of February 3, 2017. The term of the management agreement is for an initial period of <span id="xdx_901_eus-gaap--LesseeOperatingLeaseRenewalTerm_iI_dc_c20170203_zHMxB8mYIbv8" title="Managment agreement term">ten years</span> commencing on the February 3, 2017 date and <span id="xdx_909_eus-gaap--LesseeOperatingLeaseOptionToExtend_c20170202__20170203_z54a3Jd10VG4" title="Option to extend">automatically renews for successive one (1) year periods, not to exceed five years in the aggregate, subject to certain conditions</span>. Under the terms on the HMA, base management fee payable to Aimbridge shall be one and seven-tenths percent (<span id="xdx_909_ecustom--PercentageOfManagementFeePayable_pid_dp_uPure_c20170202__20170203_zrzWc30HG04c" title="Percentage of management fee payable">1.70%</span>) of total Hotel revenue.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of June 30, 2022, The InterGroup Corporation (“InterGroup”), a public company, owns approximately <span id="xdx_901_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20220630__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InterGroupCorporationMember_zyf7iLk5Exll" title="Ownership percentage">75.0</span>% of the outstanding common shares of Portsmouth. As of June 30, 2022, the Company’s Chairman of the Board and Chief Executive Officer, John V. Winfield, owns approximately <span id="xdx_907_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20220630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SantaFeFinancialCorporationMember__srt--TitleOfIndividualAxis__custom--JohnVWinfieldMember_z6EQD7M6Hyra" title="Ownership percentage">2.5</span>% of the outstanding common shares of the Company. Mr. Winfield also serves as the President, Chairman of the Board and Chief Executive Officer of InterGroup and owns approximately <span id="xdx_90D_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20220630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SantaFeFinancialCorporationMember__dei--LegalEntityAxis__custom--InterGroupCorporationMember__srt--TitleOfIndividualAxis__custom--JohnVWinfieldMember_zxadeseMYXui" title="Ownership percentage">67.8</span>% of the outstanding common shares of InterGroup as of June 30, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
</us-gaap:BusinessDescriptionAndAccountingPoliciesTextBlock>
<us-gaap:SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest contextRef="From2021-07-142021-07-15_custom_JusticeInvestorsLimitedPartnershipMember" decimals="INF" unitRef="Pure"> 1 </us-gaap:SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest>
<us-gaap:MinorityInterestOwnershipPercentageByNoncontrollingOwners contextRef="AsOf2021-07-15_custom_JusticeInvestorsLimitedPartnershipMember" decimals="INF" unitRef="Pure"> 0.007 </us-gaap:MinorityInterestOwnershipPercentageByNoncontrollingOwners>
<us-gaap:LesseeOperatingLeaseRenewalTerm contextRef="AsOf2017-02-03"> P10Y </us-gaap:LesseeOperatingLeaseRenewalTerm>
<us-gaap:LesseeOperatingLeaseOptionToExtend contextRef="From2017-02-022017-02-03"> automatically renews for successive one (1) year periods, not to exceed five years in the aggregate, subject to certain conditions </us-gaap:LesseeOperatingLeaseOptionToExtend>
<PRSI:PercentageOfManagementFeePayable contextRef="From2017-02-022017-02-03" decimals="INF" unitRef="Pure"> 0.0170 </PRSI:PercentageOfManagementFeePayable>
<us-gaap:EquityMethodInvestmentOwnershipPercentage contextRef="AsOf2022-06-30_srt_ParentCompanyMember_custom_InterGroupCorporationMember" decimals="INF" unitRef="Pure"> 0.750 </us-gaap:EquityMethodInvestmentOwnershipPercentage>
<us-gaap:EquityMethodInvestmentOwnershipPercentage contextRef="AsOf2022-06-30_custom_SantaFeFinancialCorporationMember_custom_JohnVWinfieldMember" decimals="INF" unitRef="Pure"> 0.025 </us-gaap:EquityMethodInvestmentOwnershipPercentage>
<us-gaap:EquityMethodInvestmentOwnershipPercentage contextRef="AsOf2022-06-30_custom_SantaFeFinancialCorporationMember_custom_InterGroupCorporationMember_custom_JohnVWinfieldMember" decimals="INF" unitRef="Pure"> 0.678 </us-gaap:EquityMethodInvestmentOwnershipPercentage>
<us-gaap:ConsolidationPolicyTextBlock contextRef="From2021-07-01to2022-06-30">
<p id="xdx_84D_eus-gaap--ConsolidationPolicyTextBlock_z7N8zrXDHYwj" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_860_ziHh7gGMxF3b">Principles of Consolidation</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The consolidated financial statements include the accounts of the Company and Justice up to its dissolution in December 2021 at which time all subsidiaries of Justice became subsidiaries of Portsmouth as the Company replaced Justice as the single member of Justice’s subsidiaries where appropriate. All significant inter-company transactions and balances have been eliminated.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
</us-gaap:ConsolidationPolicyTextBlock>
<us-gaap:InvestmentPolicyTextBlock contextRef="From2021-07-01to2022-06-30">
<p id="xdx_846_eus-gaap--InvestmentPolicyTextBlock_z7co5qQeqyBd" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86E_z21WBxHajelj">Investment in Hotel, Net</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36.7pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property and equipment are stated at cost. Building improvements are depreciated on a straight-line basis over their useful lives ranging from<span id="xdx_901_eus-gaap--PropertyPlantAndEquipmentUsefulLife_dtY_c20210701__20220630__srt--MortgageLoansOnRealEstateLoanTypeAxis__srt--HotelMember__srt--RangeAxis__srt--MinimumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--BuildingImprovementsMember_z56v4q1KMx56" title="Property, plant and equipment, useful life"> 3</span> to <span id="xdx_90C_eus-gaap--PropertyPlantAndEquipmentUsefulLife_dtY_c20210701__20220630__srt--MortgageLoansOnRealEstateLoanTypeAxis__srt--HotelMember__srt--RangeAxis__srt--MaximumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--BuildingImprovementsMember_zLGOItQunx2l" title="Property, plant and equipment, useful life">39</span> years. Furniture, fixtures, and equipment are depreciated on a straight-line basis over their useful lives ranging from <span id="xdx_900_eus-gaap--PropertyPlantAndEquipmentUsefulLife_dtY_c20210701__20220630__srt--MortgageLoansOnRealEstateLoanTypeAxis__srt--HotelMember__srt--RangeAxis__srt--MinimumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zk5Qo2RlCA21" title="Property, plant and equipment, useful life">3</span> to <span id="xdx_906_eus-gaap--PropertyPlantAndEquipmentUsefulLife_dtY_c20210701__20220630__srt--MortgageLoansOnRealEstateLoanTypeAxis__srt--HotelMember__srt--RangeAxis__srt--MaximumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zbXQT8swsllh" title="Property, plant and equipment, useful life">7</span> years.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Repairs and maintenance are charged to expense as incurred. Costs of significant renewals and improvements are capitalized and depreciated over the shorter of its remaining estimated useful life or life of the asset. The cost of assets sold or retired and the related accumulated depreciation are removed from the accounts; any resulting gain or loss is included in other income (expenses).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company reviews property and equipment for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable in accordance with generally accepted accounting principles (“GAAP”). If the carrying amount of the asset, including any intangible assets associated with that asset, exceeds its estimated undiscounted net cash flow, before interest, the Company will recognize an impairment loss equal to the difference between the assets’ carrying amount and its estimated fair value. If impairment is recognized, the reduced carrying amount of the asset will be accounted for as its new cost. For a depreciable asset, the new cost will be depreciated over the asset’s remaining useful life. Generally, fair values are estimated using discounted cash flow, replacement cost or market comparison analyses. The process of evaluating for impairment requires estimates as to future events and conditions, which are subject to varying market and economic factors. Therefore, it is reasonably possible that a change in estimate resulting from judgments as to future events could occur which would affect the recorded amounts of the property. <span id="xdx_901_eus-gaap--ImpairmentLossesRelatedToRealEstatePartnerships_pp0p0_do_c20210701__20220630__srt--MortgageLoansOnRealEstateLoanTypeAxis__srt--HotelMember_zVUAhOLl2kKf" title="Impairment losses"><span id="xdx_90D_eus-gaap--ImpairmentLossesRelatedToRealEstatePartnerships_pp0p0_do_c20200701__20210630__srt--MortgageLoansOnRealEstateLoanTypeAxis__srt--HotelMember_zCDdunwSOUM5" title="Impairment losses">No</span></span> impairment losses were recorded for the years ended June 30, 2022 and 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
</us-gaap:InvestmentPolicyTextBlock>
<us-gaap:PropertyPlantAndEquipmentUsefulLife contextRef="From2021-07-012022-06-30_srt_HotelMember_srt_MinimumMember_us-gaap_BuildingImprovementsMember"> P3Y </us-gaap:PropertyPlantAndEquipmentUsefulLife>
<us-gaap:PropertyPlantAndEquipmentUsefulLife contextRef="From2021-07-012022-06-30_srt_HotelMember_srt_MaximumMember_us-gaap_BuildingImprovementsMember"> P39Y </us-gaap:PropertyPlantAndEquipmentUsefulLife>
<us-gaap:PropertyPlantAndEquipmentUsefulLife contextRef="From2021-07-012022-06-30_srt_HotelMember_srt_MinimumMember_us-gaap_FurnitureAndFixturesMember"> P3Y </us-gaap:PropertyPlantAndEquipmentUsefulLife>
<us-gaap:PropertyPlantAndEquipmentUsefulLife contextRef="From2021-07-012022-06-30_srt_HotelMember_srt_MaximumMember_us-gaap_FurnitureAndFixturesMember"> P7Y </us-gaap:PropertyPlantAndEquipmentUsefulLife>
<us-gaap:ImpairmentLossesRelatedToRealEstatePartnerships contextRef="From2021-07-012022-06-30_srt_HotelMember" decimals="0" unitRef="USD"> 0 </us-gaap:ImpairmentLossesRelatedToRealEstatePartnerships>
<us-gaap:ImpairmentLossesRelatedToRealEstatePartnerships contextRef="From2020-07-012021-06-30_srt_HotelMember" decimals="0" unitRef="USD"> 0 </us-gaap:ImpairmentLossesRelatedToRealEstatePartnerships>
<us-gaap:MarketableSecuritiesPolicy contextRef="From2021-07-01to2022-06-30">
<p id="xdx_849_eus-gaap--MarketableSecuritiesPolicy_z1prVr3fV191" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_866_zMGoOTOAq8C2">Investment in Marketable Securities</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marketable securities are stated at fair value as determined by the most recently traded price of each security at the balance sheet date. Marketable securities are classified as trading securities with all unrealized gains and losses on the Company’s investment portfolio recorded through the consolidated statements of operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
</us-gaap:MarketableSecuritiesPolicy>
<us-gaap:CashAndCashEquivalentsPolicyTextBlock contextRef="From2021-07-01to2022-06-30">
<p id="xdx_84C_eus-gaap--CashAndCashEquivalentsPolicyTextBlock_zPFNjrZkyzmk" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86C_zXKV1Ki662E">Cash and Cash Equivalents</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash equivalents consist of highly liquid investments with an original maturity of three months or less when purchased and are carried at cost, which approximates fair value. As of June 30, 2022 and 2021, the Company does <span id="xdx_90F_eus-gaap--CashEquivalentsAtCarryingValue_iI_do_c20220630_z8os7T3eYjza" title="Cash equivalents"><span id="xdx_901_eus-gaap--CashEquivalentsAtCarryingValue_iI_do_c20210630_zCMqOFb7hMri">no</span></span>t have any cash equivalents.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
</us-gaap:CashAndCashEquivalentsPolicyTextBlock>
<us-gaap:CashEquivalentsAtCarryingValue contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 0 </us-gaap:CashEquivalentsAtCarryingValue>
<us-gaap:CashEquivalentsAtCarryingValue contextRef="AsOf2021-06-30" decimals="0" unitRef="USD"> 0 </us-gaap:CashEquivalentsAtCarryingValue>
<us-gaap:CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy contextRef="From2021-07-01to2022-06-30">
<p id="xdx_841_eus-gaap--CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_ziG6gsizWcp" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_866_zWGxi0wZ5HY1">Restricted Cash</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 Aimbridge that is restricted for capital improvements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
</us-gaap:CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy>
<us-gaap:ReceivablesPolicyTextBlock contextRef="From2021-07-01to2022-06-30">
<p id="xdx_84B_eus-gaap--ReceivablesPolicyTextBlock_zzKb4PhjV875" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_860_zHcItGHm7LP9">Accounts Receivable - Hotel, Net</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounts receivable from Hotel customers are carried at cost less an allowance for doubtful accounts that is based on management’s assessment of the collectability of accounts receivable. The net accounts receivable balance on July 1, 2020 was $<span id="xdx_90D_eus-gaap--ReceivablesNetCurrent_iI_c20200701_z3nivUXN6O88" title="Accounts receivable">251,000</span>. As of June 30, 2022 and 2021, the Company has gross accounts receivable of $<span id="xdx_903_eus-gaap--ReceivablesNetCurrent_iI_pp0p0_c20220630_zVhAc4KABpTj" title="Accounts receivable">392,000</span> and $<span id="xdx_905_eus-gaap--ReceivablesNetCurrent_iI_pp0p0_c20210630_ziIM7ddBxMMa" title="Accounts receivable">211,000</span> respectively, and allowance for doubtful accounts of $<span id="xdx_907_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iI_pp0p0_c20220630_zBE30qMwDQG9" title="Allowance for doubtful accounts">15,000</span> and $<span id="xdx_90E_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iI_pp0p0_c20210630_zKtKImAnueCc" title="Allowance for doubtful accounts">17,000</span>, respectively. The Company extends unsecured credit to its customers but mitigates the associated credit risk by performing ongoing credit evaluations of its customers.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
</us-gaap:ReceivablesPolicyTextBlock>
<us-gaap:ReceivablesNetCurrent contextRef="AsOf2020-07-01" decimals="0" unitRef="USD"> 251000 </us-gaap:ReceivablesNetCurrent>
<us-gaap:ReceivablesNetCurrent contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 392000 </us-gaap:ReceivablesNetCurrent>
<us-gaap:ReceivablesNetCurrent contextRef="AsOf2021-06-30" decimals="0" unitRef="USD"> 211000 </us-gaap:ReceivablesNetCurrent>
<us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 15000 </us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent>
<us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent contextRef="AsOf2021-06-30" decimals="0" unitRef="USD"> 17000 </us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent>
<PRSI:OtherAssetsNetPolicyTextBlock contextRef="From2021-07-01to2022-06-30">
<p id="xdx_846_ecustom--OtherAssetsNetPolicyTextBlock_zxUzBTqKp3Ij" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86F_zw54Q1JdAODi">Other Assets</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other assets include prepaid insurance, estimated life insurance proceeds, prepaid expenses, other investments, net, and other miscellaneous assets. Other investments include non-marketable securities (carried at cost, net of any impairments loss). The Company has no significant influence or control over the entities that issue these 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. For the years ended June 30, 2022 and 2021, the Company recorded impairment losses related to other investments of $<span id="xdx_90D_eus-gaap--ImpairmentOfInvestments_pp0p0_c20210701__20220630_zHpP0zLnvPdg" title="Impairment losses on other investments">20,000</span> and $<span id="xdx_903_eus-gaap--ImpairmentOfInvestments_pp0p0_c20200701__20210630_ztIowHjheoe5" title="Impairment losses on other investments">38,000</span>, respectively. As of June 30, 2022 and 2021, cumulative impairment losses were $<span id="xdx_90F_ecustom--CumulativeImpairmentLosses_pp0p0_c20210701__20220630_zMda8N2QeFFi" title="Cumulative impairment losses">2,269,000</span> and $<span id="xdx_90B_ecustom--CumulativeImpairmentLosses_pp0p0_c20200701__20210630_zAnDrVzi1Bhd" title="Cumulative impairment losses">2,249,000</span>, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
</PRSI:OtherAssetsNetPolicyTextBlock>
<us-gaap:ImpairmentOfInvestments contextRef="From2021-07-01to2022-06-30" decimals="0" unitRef="USD"> 20000 </us-gaap:ImpairmentOfInvestments>
<us-gaap:ImpairmentOfInvestments contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> 38000 </us-gaap:ImpairmentOfInvestments>
<PRSI:CumulativeImpairmentLosses contextRef="From2021-07-01to2022-06-30" decimals="0" unitRef="USD"> 2269000 </PRSI:CumulativeImpairmentLosses>
<PRSI:CumulativeImpairmentLosses contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> 2249000 </PRSI:CumulativeImpairmentLosses>
<us-gaap:IncomeTaxPolicyTextBlock contextRef="From2021-07-01to2022-06-30">
<p id="xdx_84D_eus-gaap--IncomeTaxPolicyTextBlock_zcbhy61HZLvg" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_867_znXrv2f2ifO6">Income Taxes</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company consolidated Justice (“Hotel”) for financial reporting purposes up to its dissolution in December 2021 and was not taxed on its non-controlling interest in the Hotel. Effective July 15, 2021, the Company become the owner of 100% of Justice and began to include all the Hotel’s income and expense accounts into its income taxes calculations. The income tax expense or benefit during the fiscal years ended June 30, 2022 and 2021, respectively, represent the income tax effect on the Company’s pretax loss which includes its share in the net loss of the Hotel accordingly.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deferred income taxes are calculated under the liability method. Deferred income tax assets and liabilities are based on differences between the financial statement and tax basis of assets and liabilities at the current enacted tax rates. Changes in deferred income tax assets and liabilities are included as a component of income tax expense. Changes in deferred income tax assets and liabilities attributable to changes in enacted tax rates are charged or credited to income tax expense in the period of enactment. Valuation allowances are established for certain deferred tax assets where realization is not likely.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We have considered the income tax accounting and disclosure implications of the relief provided by the Coronavirus Aid, Relief, and Economic Security (CARES) Act enacted on March 27, 2020, and the American Rescue Plan Act enacted on March 11, 2021. The effect of tax law changes is required to be recognized either in the interim period in which the legislation is enacted or reflected in the computation of the annual effective tax rate, depending on the nature of the change. As of June 30, 2022 and 2021, we evaluated the income tax provisions of the CARES Act and the American Rescue Plan Act and have determined there to be no material effect on the fiscal years’ tax provision. We will continue to evaluate the income tax provisions of both acts and monitor the tax law changes that could have income tax accounting and disclosure implications.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company accounts for its uncertain tax positions pursuant to <i>ASC 740, Income Taxes.</i> This guidance prescribes a recognition threshold and measurement attribute for financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. The Company believes its income tax filing positions and deductions will be sustained upon examination and that there are no significant uncertain tax positions. Further, any interest or penalties associated with uncertain tax positions shall be recorded in the income tax provision. As of June 30, 2022 there were no uncertain tax positions or any associated penalties and interest.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
</us-gaap:IncomeTaxPolicyTextBlock>
<PRSI:DueToSecuritiesBrokerPolicyTextBlock contextRef="From2021-07-01to2022-06-30">
<p id="xdx_84C_ecustom--DueToSecuritiesBrokerPolicyTextBlock_zoa8uRImuc4" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86B_z11fIDvIHDCf">Due to Securities Broker</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
</PRSI:DueToSecuritiesBrokerPolicyTextBlock>
<PRSI:AccountsPayableAndOtherLiabilitiesPolicyTextBlock contextRef="From2021-07-01to2022-06-30">
<p id="xdx_843_ecustom--AccountsPayableAndOtherLiabilitiesPolicyTextBlock_zj3ZlF0IRgwk" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_863_zFmOiUAZhcg2">Accounts Payable and Other Liabilities</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounts payable and other liabilities include trade payables, advance customer deposits, accrued wages, accrued real estate taxes, and other liabilities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
</PRSI:AccountsPayableAndOtherLiabilitiesPolicyTextBlock>
<us-gaap:FairValueOfFinancialInstrumentsPolicy contextRef="From2021-07-01to2022-06-30">
<p id="xdx_845_eus-gaap--FairValueOfFinancialInstrumentsPolicy_zevby2DQ4nWe" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86C_zat7ZDS3GSmk">Fair Value of Financial Instruments</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date. Accounting standards for fair value measurement establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The hierarchy is broken down into three levels based on the observability of inputs as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Level 1</i>–inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Level 2</i>–inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liability, either directly or indirectly, for substantially the full term of the financial instruments.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Level 3</i>–inputs to the valuation methodology are unobservable and significant to the fair value.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"/> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
</us-gaap:FairValueOfFinancialInstrumentsPolicy>
<us-gaap:RevenueFromContractWithCustomerPolicyTextBlock contextRef="From2021-07-01to2022-06-30">
<p id="xdx_84A_eus-gaap--RevenueFromContractWithCustomerPolicyTextBlock_zeyYOrZnCZpk" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86D_ziePZ7F3lq44">Revenue Recognition</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 1, 2018, we adopted ASC 606, <i>Revenue from Contracts with Customers</i>, 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. See Note 3 – Revenue.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p>
</us-gaap:RevenueFromContractWithCustomerPolicyTextBlock>
<us-gaap:AdvertisingCostsPolicyTextBlock contextRef="From2021-07-01to2022-06-30">
<p id="xdx_84F_eus-gaap--AdvertisingCostsPolicyTextBlock_zsqsCDrnmyHj" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_865_zAdcGnIo7aF1">Advertising Costs</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Advertising costs are expensed as incurred and are included in Hotel operating expenses in the consolidated statements of operations. Advertising costs were $<span id="xdx_90F_eus-gaap--AdvertisingExpense_pp0p0_c20210701__20220630_zDlwc44G21B3" title="Advertising expense">61,000</span> and $<span id="xdx_908_eus-gaap--AdvertisingExpense_pp0p0_c20200701__20210630_zgYiasQrewZc" title="Advertising expense">110,000</span> for the years ended June 30, 2022 and 2021, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
</us-gaap:AdvertisingCostsPolicyTextBlock>
<us-gaap:AdvertisingExpense contextRef="From2021-07-01to2022-06-30" decimals="0" unitRef="USD"> 61000 </us-gaap:AdvertisingExpense>
<us-gaap:AdvertisingExpense contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> 110000 </us-gaap:AdvertisingExpense>
<us-gaap:EarningsPerSharePolicyTextBlock contextRef="From2021-07-01to2022-06-30">
<p id="xdx_847_eus-gaap--EarningsPerSharePolicyTextBlock_zNDu98MQfCyg" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_868_zamAdu8DUsRd">Basic and Diluted Loss per Share</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic loss per share is calculated based upon the weighted average number of common shares outstanding during each fiscal year. As of June 30, 2022 and 2021, the Company did not have any potentially dilutive securities outstanding.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
</us-gaap:EarningsPerSharePolicyTextBlock>
<us-gaap:UseOfEstimates contextRef="From2021-07-01to2022-06-30">
<p id="xdx_84E_eus-gaap--UseOfEstimates_zpXXfrCtnNS2" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_861_zFERMCgmkCUh">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) requires the use of estimates and assumptions regarding certain types of assets, liabilities, revenues, and expenses. Such estimates primarily relate to the recording of allowance for doubtful accounts which are based on management’s assessment of the collectability of accounts receivable, as of the end of the fiscal year. Actual results may differ from those estimates. Management considers new evidence, both positive and negative, that could affect its view of the future realization of deferred tax assets and when appropriate, records tax valuation allowances based on that evidence and estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
</us-gaap:UseOfEstimates>
<PRSI:DebtIssuanceCostsPolicyTextBlock contextRef="From2021-07-01to2022-06-30">
<p id="xdx_84A_ecustom--DebtIssuanceCostsPolicyTextBlock_zOfiUjzBPQi9" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86C_z5IvxiR5Amf2">Debt Issuance Costs</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Debt issuance costs related to a recognized debt liability are presented in the consolidated balance sheets as a direct deduction from the carrying amount of the debt liability and are amortized over the life of the debt. Loan amortization costs are included in interest expense in the consolidated statement of operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
</PRSI:DebtIssuanceCostsPolicyTextBlock>
<us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock contextRef="From2021-07-01to2022-06-30">
<p id="xdx_843_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zE9YbVtqdKeh" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_860_zXRgf1sFX1kg">Recently Issued and Adopted Accounting Pronouncements</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of June 30, 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 consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p>
</us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock>
<PRSI:LiquidityTextBlock contextRef="From2021-07-01to2022-06-30">
<p id="xdx_80C_ecustom--LiquidityTextBlock_ztsZTm5LPD03" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 2 - <span id="xdx_82A_zITpVTgjvrn3">LIQUIDITY</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Historically, our cash flows have been primarily generated from our Hotel 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 fiscal years ended June 30, 2022 our net cash used in operating activities was $<span id="xdx_908_eus-gaap--NetCashProvidedByUsedInOperatingActivities_iN_pp0p0_di_c20210701__20220630_zw1A9waU6fJc" title="Net cash used in operating activities">2,761,000</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">. We have taken several steps to preserve capital and increase liquidity at our Hotel, including implementing strict cost management measures to eliminate non-essential expenses, renegotiating certain reoccurring expenses, and temporarily closing certain hotel services and outlets. As the hospitality and travel environment continues to improve, we will continue to evaluate what services we bring back and anticipate making upgrades to our guest rooms during fiscal year 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company had cash and cash equivalents of $<span id="xdx_90B_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pp0p0_c20220630_zdr4FCP1Hp5j" title="Cash and cash equivalents">2,662,000</span> and $<span id="xdx_90C_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pp0p0_c20210630_zH8sd2YpvjV2" title="Cash and cash equivalents">2,310,000</span> as of June 30, 2022 and 2021, respectively. The Company had restricted cash of $<span id="xdx_901_eus-gaap--RestrictedCash_iI_c20220630_zDeUjuZj3fq1" title="Restricted cash">6,226,000</span> and $<span id="xdx_90E_eus-gaap--RestrictedCash_iI_c20210630_z1f2kY8fCfJj" title="Restricted cash">6,222,000</span> as of June 30, 2022 and 2021, respectively. The Company had marketable securities, net of margin due to securities brokers, of $<span id="xdx_90B_eus-gaap--MarketableSecuritiesCurrent_iI_pp0p0_c20220630_zzC1C8Cu8rU6" title="Marketable securities, net">411,000</span> and $<span id="xdx_90A_eus-gaap--MarketableSecuritiesCurrent_iI_pp0p0_c20210630_zp8oXZ9LtTK9" title="Marketable securities, net">1,821,000</span> as of June 30, 2022 and 2021, respectively. These marketable securities are short-term investments and liquid in nature.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 16, 2020, Justice and InterGroup entered into a loan modification agreement which increased Justice’s borrowing from InterGroup as needed up to $<span id="xdx_906_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_pp0p0_c20201216__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--InterGroupCorpMember__us-gaap--TypeOfArrangementAxis__custom--LoanModificationAgreementMember_zlJVwwmITWj3" title="Revolving line of credit amount">10,000,000</span> and extended the maturity date of the loan to <span id="xdx_909_eus-gaap--LineOfCreditFacilityExpirationDate1_dd_c20201215__20201216__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--InterGroupCorpMember__us-gaap--TypeOfArrangementAxis__custom--LoanModificationAgreementMember_zkD0yR3Q0VIi" title="Line of credit facility, expiration date">July 31, 2021</span>. As of the date of this report, the maturity date was extended to <span id="xdx_906_eus-gaap--LineOfCreditFacilityExpirationDate1_dd_c20210701__20220630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--InterGroupCorpMember__us-gaap--TypeOfArrangementAxis__custom--LoanModificationAgreementMember_zJPcjsowfnM1" title="Line of credit facility, expiration date">July 31, 2023</span>. Upon the dissolution of Justice in December 2021, Portsmouth assumed Justice’s note payable to InterGroup in the amount of $<span id="xdx_901_eus-gaap--NotesPayable_iI_pp0p0_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--InterGroupCorpMember__us-gaap--TypeOfArrangementAxis__custom--LoanModificationAgreementMember_zfblVTqv8EJc" title="Notes payable">11,350,000</span>. On December 31, 2021, Portsmouth and InterGroup entered into a loan modification agreement which increased Portsmouth’s borrowing from InterGroup as needed up to $<span id="xdx_903_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_pp0p0_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--InterGroupCorpMember__us-gaap--TypeOfArrangementAxis__custom--LoanModificationAgreementMember_zdE0TyB0iIic" title="Revolving line of credit amount">16,000,000</span>. During the fiscal year ending June 30, 2022, InterGroup advanced $<span id="xdx_90A_eus-gaap--ProceedsFromRelatedPartyDebt_pp0p0_c20210701__20220630__srt--ProductOrServiceAxis__custom--HotelRoomsMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--InterGroupCorpMember_zOW3C1cAelc3" title="Proceeds from related party debt">7,550,000</span> to the Hotel, bringing the total amount due to InterGroup to $<span id="xdx_904_eus-gaap--NotesPayable_iI_pp0p0_c20220630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--InterGroupCorpMember__us-gaap--TypeOfArrangementAxis__custom--LoanModificationAgreementMember_zpLRe4VvvGB9" title="Notes payable">14,200,000</span> as of June 30, 2022. The Company could amend its by-laws and increase the number of authorized shares to issue additional shares to raise capital in the public markets if needed.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On April 9, 2020, Justice entered into a loan agreement (“SBA Loan”) with CIBC Bank USA under the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) administered by the U.S. Small Business Administration (the “SBA”). Justice received proceeds of $<span id="xdx_908_eus-gaap--ProceedsFromLoans_pp0p0_c20200408__20200409__us-gaap--TypeOfArrangementAxis__custom--CaresActMember__us-gaap--CreditFacilityAxis__custom--CIBCBankUSAMember_zyJbCMG9Vkkf" title="Proceeds from loan">4,719,000</span> from the SBA Loan. In accordance with the requirements of the CARES Act, Justice used the proceeds from the SBA Loan for payroll costs and other qualified expenses. The SBA Loan was scheduled to mature on April 9, 2022 with a <span id="xdx_90C_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20200409__us-gaap--TypeOfArrangementAxis__custom--CaresActMember__us-gaap--CreditFacilityAxis__custom--CIBCBankUSAMember_zWAfq0HqxAsb" title="Debt interest rate">1.00</span>% interest rate and was subject to the terms and conditions applicable to loans administered by the U.S. Small Business Administration under the CARES Act. On June 10, 2021, the SBA Loan was forgiven in full and $<span id="xdx_90B_eus-gaap--GainsLossesOnExtinguishmentOfDebt_c20200701__20210630_zJkJwB9OEbCd" title="Gain (loss) on extinguishment of debt">4,719,000</span> was recorded as gain on debt extinguishment on the consolidated statement of operations for the fiscal year ending June 30, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On February 3, 2021, Justice entered into a second loan agreement (“Second SBA Loan”) with CIBC Bank USA administered by the SBA. Justice received proceeds of $<span id="xdx_90C_eus-gaap--ProceedsFromLoans_pp0p0_c20210202__20210203__us-gaap--TypeOfArrangementAxis__custom--SecondSBALoanMember__us-gaap--CreditFacilityAxis__custom--CIBCBankUSAMember_zSRJc1spKbwj" title="Proceeds from loan">2,000,000</span> from the Second SBA Loan. As of June 30, 2021, Justice used all proceeds from the Second SBA Loan primarily for payroll costs. The Second SBA Loan was scheduled to mature on <span id="xdx_90F_eus-gaap--DebtInstrumentMaturityDate_dd_c20210202__20210203__us-gaap--TypeOfArrangementAxis__custom--SecondSBALoanMember__us-gaap--CreditFacilityAxis__custom--CIBCBankUSAMember_zLnouC3HXRhl" title="Debt instrument, maturity date">February 3, 2026</span>, had a <span id="xdx_90E_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20210203__us-gaap--TypeOfArrangementAxis__custom--SecondSBALoanMember__us-gaap--CreditFacilityAxis__custom--CIBCBankUSAMember_zB8IG7gs2JBa" title="Debt interest rate">1.00</span>% interest rate, and was subject to the terms and conditions applicable to loans administered by the U.S. Small Business Administration under the CARES Act. On November 19, 2021, the Second SBA Loan was forgiven in full and $<span id="xdx_909_eus-gaap--GainsLossesOnExtinguishmentOfDebt_c20210701__20220630_zdRiYtMtTcb" title="Gain (loss) on extinguishment of debt">2,000,000</span> was recorded as gain on debt extinguishment on the consolidated statement of operations for the fiscal year ending June 30, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our known short-term liquidity requirements primarily consist of funds necessary to pay for operating and other expenditures, including management and franchise fees, corporate expenses, payroll and related costs, taxes, interest and principal payments on our outstanding indebtedness, and repairs and maintenance of the Hotel.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our long-term liquidity requirements primarily consist of funds necessary to pay for scheduled debt maturities and capital improvements of the Hotel. 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 will be adequate to meet anticipated requirements for operating and other expenditures, including corporate expenses, payroll and related benefits, taxes and compliance costs and other commitments, for at least twelve months from the date of issuance of these financial statements, even if current levels of occupancy and revenue per occupied room (“RevPAR”, calculated by multiplying the hotel’s average daily room rate by its occupancy percentage) were to persist. The objectives of our cash management policy are to maintain existing leverage levels and the availability of liquidity, while minimizing operational costs. We believe that our cash on hand, along with other potential sources of liquidity that management may be able to obtain, will be sufficient to fund our working capital needs, as well as our capital lease and debt obligations for at least the next twelve months and beyond. However, there can be no guarantee that management will be successful with its plan.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_897_eus-gaap--ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_zI44Vc46oMQ3" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table provides a summary as of June 30, 2022, the Company’s material financial obligations which also including interest payments:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B2_zbkSP1QHKz34" style="display: none">SCHEDULE OF FINANCIAL OBLIGATIONS INCLUDING INTEREST PAYMENTS</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center">Year</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Year</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Year</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Year</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Year</td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Total</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2023</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2024</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2025</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2026</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2027</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Thereafter</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 37%; text-align: left">Mortgage notes payable</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--LongTermDebt_iI_pp0p0_c20220630__us-gaap--LongtermDebtTypeAxis__custom--MortgageNotesPayableMember__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_zamjJ9MbBZE9" style="width: 5%; text-align: right" title="Long-term Debt">109,114,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_pp0p0_c20220630__us-gaap--LongtermDebtTypeAxis__custom--MortgageNotesPayableMember__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_z2rlrcY2bck6" style="width: 5%; text-align: right" title="2023">1,721,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_iI_pp0p0_c20220630__us-gaap--LongtermDebtTypeAxis__custom--MortgageNotesPayableMember__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_z4i6kDSHp9Hd" style="width: 5%; text-align: right" title="2024">107,393,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_iI_pp0p0_c20220630__us-gaap--LongtermDebtTypeAxis__custom--MortgageNotesPayableMember__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_zaj1hUVPXbq3" style="width: 5%; text-align: right" title="2025"><span style="-sec-ix-hidden: xdx2ixbrl0569">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_iI_pp0p0_c20220630__us-gaap--LongtermDebtTypeAxis__custom--MortgageNotesPayableMember__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_zEs0sI0PbM8h" style="width: 5%; text-align: right" title="2026"><span style="-sec-ix-hidden: xdx2ixbrl0571">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_iI_pp0p0_c20220630__us-gaap--LongtermDebtTypeAxis__custom--MortgageNotesPayableMember__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_zhHlOlygrr9h" style="width: 5%; text-align: right" title="2027"><span style="-sec-ix-hidden: xdx2ixbrl0573">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_iI_pp0p0_c20220630__us-gaap--LongtermDebtTypeAxis__custom--MortgageNotesPayableMember__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_zKMG0fzXeYg4" style="width: 5%; text-align: right" title="Thereafter"><span style="-sec-ix-hidden: xdx2ixbrl0575">-</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Related party notes payable</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--LongTermDebt_iI_pp0p0_c20220630__us-gaap--LongtermDebtTypeAxis__custom--RelatedPartyNotesPayableMember__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_zxGisT4ckKFd" style="text-align: right" title="Long-term Debt">17,721,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_pp0p0_c20220630__us-gaap--LongtermDebtTypeAxis__custom--RelatedPartyNotesPayableMember__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_zXXFvxYeKokh" style="text-align: right" title="2023">567,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_iI_pp0p0_c20220630__us-gaap--LongtermDebtTypeAxis__custom--RelatedPartyNotesPayableMember__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_zeOmr9wV0tYa" style="text-align: right" title="2024">14,767,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_iI_pp0p0_c20220630__us-gaap--LongtermDebtTypeAxis__custom--RelatedPartyNotesPayableMember__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_zewnAuEHlHo7" style="text-align: right" title="2025">567,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_iI_pp0p0_c20220630__us-gaap--LongtermDebtTypeAxis__custom--RelatedPartyNotesPayableMember__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_zHpOVkzq1vM2" style="text-align: right" title="2026">567,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_iI_pp0p0_c20220630__us-gaap--LongtermDebtTypeAxis__custom--RelatedPartyNotesPayableMember__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_zeBNO9ztd0Sj" style="text-align: right" title="2027">462,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_iI_pp0p0_c20220630__us-gaap--LongtermDebtTypeAxis__custom--RelatedPartyNotesPayableMember__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_zUyt67DIlUc6" style="text-align: right" title="Thereafter">791,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Interest</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--LongTermDebt_iI_pp0p0_c20220630__us-gaap--LongtermDebtTypeAxis__custom--InterestMember__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_zMlnDgPsFQ6" style="border-bottom: Black 1.5pt solid; text-align: right" title="Long-term Debt">11,080,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_pp0p0_c20220630__us-gaap--LongtermDebtTypeAxis__custom--InterestMember__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_zjWJSXOzydLd" style="border-bottom: Black 1.5pt solid; text-align: right" title="2023">7,871,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_iI_pp0p0_c20220630__us-gaap--LongtermDebtTypeAxis__custom--InterestMember__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_zriimTJvkYLf" style="border-bottom: Black 1.5pt solid; text-align: right" title="2024">3,209,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_iI_pp0p0_c20220630__us-gaap--LongtermDebtTypeAxis__custom--InterestMember__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_zHdJASUuVRQk" style="border-bottom: Black 1.5pt solid; text-align: right" title="2025"><span style="-sec-ix-hidden: xdx2ixbrl0597">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_iI_pp0p0_c20220630__us-gaap--LongtermDebtTypeAxis__custom--InterestMember__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_z21OTiZ9dhff" style="border-bottom: Black 1.5pt solid; text-align: right" title="2026"><span style="-sec-ix-hidden: xdx2ixbrl0599">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_iI_pp0p0_c20220630__us-gaap--LongtermDebtTypeAxis__custom--InterestMember__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_zu3e01NfGwGk" style="border-bottom: Black 1.5pt solid; text-align: right" title="2027"><span style="-sec-ix-hidden: xdx2ixbrl0601">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_iI_pp0p0_c20220630__us-gaap--LongtermDebtTypeAxis__custom--InterestMember__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_zTG9yFIgeFTi" style="border-bottom: Black 1.5pt solid; text-align: right" title="Thereafter"><span style="-sec-ix-hidden: xdx2ixbrl0603">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">   Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_981_eus-gaap--LongTermDebt_iI_pp0p0_c20220630__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_zICwQ42NNWa7" style="border-bottom: Black 2.5pt double; text-align: right" title="Long-term Debt">137,915,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_pp0p0_c20220630__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_zRsCFvvQfHNj" style="border-bottom: Black 2.5pt double; text-align: right" title="2023">10,159,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_iI_pp0p0_c20220630__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_z43V9yEeL1mk" style="border-bottom: Black 2.5pt double; text-align: right" title="2024">125,369,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_iI_pp0p0_c20220630__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_zxSrthLdoOE8" style="border-bottom: Black 2.5pt double; text-align: right" title="2025">567,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98D_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_iI_pp0p0_c20220630__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_zaf4iMrZ5382" style="border-bottom: Black 2.5pt double; text-align: right" title="2026">567,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_iI_pp0p0_c20220630__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_zTx6gp6ymkJe" style="border-bottom: Black 2.5pt double; text-align: right" title="2027">462,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_iI_pp0p0_c20220630__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_zhJqjAdtmEmh" style="border-bottom: Black 2.5pt double; text-align: right" title="Thereafter">791,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AF_zu8mRuGk4h" style="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
</PRSI:LiquidityTextBlock>
<us-gaap:NetCashProvidedByUsedInOperatingActivities contextRef="From2021-07-01to2022-06-30" decimals="0" unitRef="USD"> -2761000 </us-gaap:NetCashProvidedByUsedInOperatingActivities>
<us-gaap:CashAndCashEquivalentsAtCarryingValue contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 2662000 </us-gaap:CashAndCashEquivalentsAtCarryingValue>
<us-gaap:CashAndCashEquivalentsAtCarryingValue contextRef="AsOf2021-06-30" decimals="0" unitRef="USD"> 2310000 </us-gaap:CashAndCashEquivalentsAtCarryingValue>
<us-gaap:RestrictedCash contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 6226000 </us-gaap:RestrictedCash>
<us-gaap:RestrictedCash contextRef="AsOf2021-06-30" decimals="0" unitRef="USD"> 6222000 </us-gaap:RestrictedCash>
<us-gaap:MarketableSecuritiesCurrent contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 411000 </us-gaap:MarketableSecuritiesCurrent>
<us-gaap:MarketableSecuritiesCurrent contextRef="AsOf2021-06-30" decimals="0" unitRef="USD"> 1821000 </us-gaap:MarketableSecuritiesCurrent>
<us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity contextRef="AsOf2020-12-16_custom_InterGroupCorpMember_custom_LoanModificationAgreementMember" decimals="0" unitRef="USD"> 10000000 </us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity>
<us-gaap:LineOfCreditFacilityExpirationDate1 contextRef="From2020-12-152020-12-16_custom_InterGroupCorpMember_custom_LoanModificationAgreementMember"> 2021-07-31 </us-gaap:LineOfCreditFacilityExpirationDate1>
<us-gaap:LineOfCreditFacilityExpirationDate1 contextRef="From2021-07-012022-06-30_custom_InterGroupCorpMember_custom_LoanModificationAgreementMember"> 2023-07-31 </us-gaap:LineOfCreditFacilityExpirationDate1>
<us-gaap:NotesPayable contextRef="AsOf2021-12-31_custom_InterGroupCorpMember_custom_LoanModificationAgreementMember" decimals="0" unitRef="USD"> 11350000 </us-gaap:NotesPayable>
<us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity contextRef="AsOf2021-12-31_custom_InterGroupCorpMember_custom_LoanModificationAgreementMember" decimals="0" unitRef="USD"> 16000000 </us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity>
<us-gaap:ProceedsFromRelatedPartyDebt contextRef="From2021-07-012022-06-30_custom_HotelRoomsMember_custom_InterGroupCorpMember" decimals="0" unitRef="USD"> 7550000 </us-gaap:ProceedsFromRelatedPartyDebt>
<us-gaap:NotesPayable contextRef="AsOf2022-06-30_custom_InterGroupCorpMember_custom_LoanModificationAgreementMember" decimals="0" unitRef="USD"> 14200000 </us-gaap:NotesPayable>
<us-gaap:ProceedsFromLoans contextRef="From2020-04-082020-04-09_custom_CaresActMember_custom_CIBCBankUSAMember" decimals="0" unitRef="USD"> 4719000 </us-gaap:ProceedsFromLoans>
<us-gaap:DebtInstrumentInterestRateStatedPercentage contextRef="AsOf2020-04-09_custom_CaresActMember_custom_CIBCBankUSAMember" decimals="INF" unitRef="Pure"> 0.0100 </us-gaap:DebtInstrumentInterestRateStatedPercentage>
<us-gaap:GainsLossesOnExtinguishmentOfDebt contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> 4719000 </us-gaap:GainsLossesOnExtinguishmentOfDebt>
<us-gaap:ProceedsFromLoans contextRef="From2021-02-022021-02-03_custom_SecondSBALoanMember_custom_CIBCBankUSAMember" decimals="0" unitRef="USD"> 2000000 </us-gaap:ProceedsFromLoans>
<us-gaap:DebtInstrumentMaturityDate contextRef="From2021-02-022021-02-03_custom_SecondSBALoanMember_custom_CIBCBankUSAMember"> 2026-02-03 </us-gaap:DebtInstrumentMaturityDate>
<us-gaap:DebtInstrumentInterestRateStatedPercentage contextRef="AsOf2021-02-03_custom_SecondSBALoanMember_custom_CIBCBankUSAMember" decimals="INF" unitRef="Pure"> 0.0100 </us-gaap:DebtInstrumentInterestRateStatedPercentage>
<us-gaap:GainsLossesOnExtinguishmentOfDebt contextRef="From2021-07-01to2022-06-30" decimals="0" unitRef="USD"> 2000000 </us-gaap:GainsLossesOnExtinguishmentOfDebt>
<us-gaap:ScheduleOfMaturitiesOfLongTermDebtTableTextBlock contextRef="From2021-07-01to2022-06-30">
<p id="xdx_897_eus-gaap--ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_zI44Vc46oMQ3" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table provides a summary as of June 30, 2022, the Company’s material financial obligations which also including interest payments:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B2_zbkSP1QHKz34" style="display: none">SCHEDULE OF FINANCIAL OBLIGATIONS INCLUDING INTEREST PAYMENTS</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center">Year</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Year</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Year</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Year</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Year</td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Total</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2023</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2024</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2025</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2026</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2027</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Thereafter</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 37%; text-align: left">Mortgage notes payable</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--LongTermDebt_iI_pp0p0_c20220630__us-gaap--LongtermDebtTypeAxis__custom--MortgageNotesPayableMember__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_zamjJ9MbBZE9" style="width: 5%; text-align: right" title="Long-term Debt">109,114,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_pp0p0_c20220630__us-gaap--LongtermDebtTypeAxis__custom--MortgageNotesPayableMember__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_z2rlrcY2bck6" style="width: 5%; text-align: right" title="2023">1,721,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_iI_pp0p0_c20220630__us-gaap--LongtermDebtTypeAxis__custom--MortgageNotesPayableMember__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_z4i6kDSHp9Hd" style="width: 5%; text-align: right" title="2024">107,393,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_iI_pp0p0_c20220630__us-gaap--LongtermDebtTypeAxis__custom--MortgageNotesPayableMember__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_zaj1hUVPXbq3" style="width: 5%; text-align: right" title="2025"><span style="-sec-ix-hidden: xdx2ixbrl0569">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_iI_pp0p0_c20220630__us-gaap--LongtermDebtTypeAxis__custom--MortgageNotesPayableMember__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_zEs0sI0PbM8h" style="width: 5%; text-align: right" title="2026"><span style="-sec-ix-hidden: xdx2ixbrl0571">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_iI_pp0p0_c20220630__us-gaap--LongtermDebtTypeAxis__custom--MortgageNotesPayableMember__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_zhHlOlygrr9h" style="width: 5%; text-align: right" title="2027"><span style="-sec-ix-hidden: xdx2ixbrl0573">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_iI_pp0p0_c20220630__us-gaap--LongtermDebtTypeAxis__custom--MortgageNotesPayableMember__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_zKMG0fzXeYg4" style="width: 5%; text-align: right" title="Thereafter"><span style="-sec-ix-hidden: xdx2ixbrl0575">-</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Related party notes payable</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--LongTermDebt_iI_pp0p0_c20220630__us-gaap--LongtermDebtTypeAxis__custom--RelatedPartyNotesPayableMember__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_zxGisT4ckKFd" style="text-align: right" title="Long-term Debt">17,721,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_pp0p0_c20220630__us-gaap--LongtermDebtTypeAxis__custom--RelatedPartyNotesPayableMember__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_zXXFvxYeKokh" style="text-align: right" title="2023">567,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_iI_pp0p0_c20220630__us-gaap--LongtermDebtTypeAxis__custom--RelatedPartyNotesPayableMember__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_zeOmr9wV0tYa" style="text-align: right" title="2024">14,767,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_iI_pp0p0_c20220630__us-gaap--LongtermDebtTypeAxis__custom--RelatedPartyNotesPayableMember__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_zewnAuEHlHo7" style="text-align: right" title="2025">567,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_iI_pp0p0_c20220630__us-gaap--LongtermDebtTypeAxis__custom--RelatedPartyNotesPayableMember__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_zHpOVkzq1vM2" style="text-align: right" title="2026">567,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_iI_pp0p0_c20220630__us-gaap--LongtermDebtTypeAxis__custom--RelatedPartyNotesPayableMember__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_zeBNO9ztd0Sj" style="text-align: right" title="2027">462,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_iI_pp0p0_c20220630__us-gaap--LongtermDebtTypeAxis__custom--RelatedPartyNotesPayableMember__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_zUyt67DIlUc6" style="text-align: right" title="Thereafter">791,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Interest</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--LongTermDebt_iI_pp0p0_c20220630__us-gaap--LongtermDebtTypeAxis__custom--InterestMember__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_zMlnDgPsFQ6" style="border-bottom: Black 1.5pt solid; text-align: right" title="Long-term Debt">11,080,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_pp0p0_c20220630__us-gaap--LongtermDebtTypeAxis__custom--InterestMember__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_zjWJSXOzydLd" style="border-bottom: Black 1.5pt solid; text-align: right" title="2023">7,871,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_iI_pp0p0_c20220630__us-gaap--LongtermDebtTypeAxis__custom--InterestMember__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_zriimTJvkYLf" style="border-bottom: Black 1.5pt solid; text-align: right" title="2024">3,209,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_iI_pp0p0_c20220630__us-gaap--LongtermDebtTypeAxis__custom--InterestMember__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_zHdJASUuVRQk" style="border-bottom: Black 1.5pt solid; text-align: right" title="2025"><span style="-sec-ix-hidden: xdx2ixbrl0597">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_iI_pp0p0_c20220630__us-gaap--LongtermDebtTypeAxis__custom--InterestMember__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_z21OTiZ9dhff" style="border-bottom: Black 1.5pt solid; text-align: right" title="2026"><span style="-sec-ix-hidden: xdx2ixbrl0599">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_iI_pp0p0_c20220630__us-gaap--LongtermDebtTypeAxis__custom--InterestMember__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_zu3e01NfGwGk" style="border-bottom: Black 1.5pt solid; text-align: right" title="2027"><span style="-sec-ix-hidden: xdx2ixbrl0601">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_iI_pp0p0_c20220630__us-gaap--LongtermDebtTypeAxis__custom--InterestMember__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_zTG9yFIgeFTi" style="border-bottom: Black 1.5pt solid; text-align: right" title="Thereafter"><span style="-sec-ix-hidden: xdx2ixbrl0603">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">   Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_981_eus-gaap--LongTermDebt_iI_pp0p0_c20220630__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_zICwQ42NNWa7" style="border-bottom: Black 2.5pt double; text-align: right" title="Long-term Debt">137,915,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_pp0p0_c20220630__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_zRsCFvvQfHNj" style="border-bottom: Black 2.5pt double; text-align: right" title="2023">10,159,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_iI_pp0p0_c20220630__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_z43V9yEeL1mk" style="border-bottom: Black 2.5pt double; text-align: right" title="2024">125,369,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_iI_pp0p0_c20220630__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_zxSrthLdoOE8" style="border-bottom: Black 2.5pt double; text-align: right" title="2025">567,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98D_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_iI_pp0p0_c20220630__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_zaf4iMrZ5382" style="border-bottom: Black 2.5pt double; text-align: right" title="2026">567,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_iI_pp0p0_c20220630__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_zTx6gp6ymkJe" style="border-bottom: Black 2.5pt double; text-align: right" title="2027">462,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_iI_pp0p0_c20220630__us-gaap--FairValueByLiabilityClassAxis__us-gaap--ObligationsMember_zhJqjAdtmEmh" style="border-bottom: Black 2.5pt double; text-align: right" title="Thereafter">791,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>
</us-gaap:ScheduleOfMaturitiesOfLongTermDebtTableTextBlock>
<us-gaap:LongTermDebt contextRef="AsOf2022-06-30_custom_MortgageNotesPayableMember_us-gaap_ObligationsMember" decimals="0" unitRef="USD"> 109114000 </us-gaap:LongTermDebt>
<us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths contextRef="AsOf2022-06-30_custom_MortgageNotesPayableMember_us-gaap_ObligationsMember" decimals="0" unitRef="USD"> 1721000 </us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths>
<us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo contextRef="AsOf2022-06-30_custom_MortgageNotesPayableMember_us-gaap_ObligationsMember" decimals="0" unitRef="USD"> 107393000 </us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo>
<us-gaap:LongTermDebt contextRef="AsOf2022-06-30_custom_RelatedPartyNotesPayableMember_us-gaap_ObligationsMember" decimals="0" unitRef="USD"> 17721000 </us-gaap:LongTermDebt>
<us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths contextRef="AsOf2022-06-30_custom_RelatedPartyNotesPayableMember_us-gaap_ObligationsMember" decimals="0" unitRef="USD"> 567000 </us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths>
<us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo contextRef="AsOf2022-06-30_custom_RelatedPartyNotesPayableMember_us-gaap_ObligationsMember" decimals="0" unitRef="USD"> 14767000 </us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo>
<us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree contextRef="AsOf2022-06-30_custom_RelatedPartyNotesPayableMember_us-gaap_ObligationsMember" decimals="0" unitRef="USD"> 567000 </us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree>
<us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour contextRef="AsOf2022-06-30_custom_RelatedPartyNotesPayableMember_us-gaap_ObligationsMember" decimals="0" unitRef="USD"> 567000 </us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour>
<us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive contextRef="AsOf2022-06-30_custom_RelatedPartyNotesPayableMember_us-gaap_ObligationsMember" decimals="0" unitRef="USD"> 462000 </us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive>
<us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive contextRef="AsOf2022-06-30_custom_RelatedPartyNotesPayableMember_us-gaap_ObligationsMember" decimals="0" unitRef="USD"> 791000 </us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive>
<us-gaap:LongTermDebt contextRef="AsOf2022-06-30_custom_InterestMember_us-gaap_ObligationsMember" decimals="0" unitRef="USD"> 11080000 </us-gaap:LongTermDebt>
<us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths contextRef="AsOf2022-06-30_custom_InterestMember_us-gaap_ObligationsMember" decimals="0" unitRef="USD"> 7871000 </us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths>
<us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo contextRef="AsOf2022-06-30_custom_InterestMember_us-gaap_ObligationsMember" decimals="0" unitRef="USD"> 3209000 </us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo>
<us-gaap:LongTermDebt contextRef="AsOf2022-06-30_us-gaap_ObligationsMember" decimals="0" unitRef="USD"> 137915000 </us-gaap:LongTermDebt>
<us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths contextRef="AsOf2022-06-30_us-gaap_ObligationsMember" decimals="0" unitRef="USD"> 10159000 </us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths>
<us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo contextRef="AsOf2022-06-30_us-gaap_ObligationsMember" decimals="0" unitRef="USD"> 125369000 </us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo>
<us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree contextRef="AsOf2022-06-30_us-gaap_ObligationsMember" decimals="0" unitRef="USD"> 567000 </us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree>
<us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour contextRef="AsOf2022-06-30_us-gaap_ObligationsMember" decimals="0" unitRef="USD"> 567000 </us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour>
<us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive contextRef="AsOf2022-06-30_us-gaap_ObligationsMember" decimals="0" unitRef="USD"> 462000 </us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive>
<us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive contextRef="AsOf2022-06-30_us-gaap_ObligationsMember" decimals="0" unitRef="USD"> 791000 </us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive>
<us-gaap:RevenueFromContractWithCustomerTextBlock contextRef="From2021-07-01to2022-06-30">
<p id="xdx_800_eus-gaap--RevenueFromContractWithCustomerTextBlock_zMw3b8ijDETa" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 3 - <span id="xdx_82D_zUGELnwdhDB2">REVENUE</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_898_eus-gaap--DisaggregationOfRevenueTableTextBlock_zrw76HapYxPh" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table present our revenue disaggregated by revenue streams.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B4_z8VPc1aIeun9" style="display: none">SCHEDULE OF REVENUE DISAGGREGATION BY REVENUE STREAMS</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">For the year ended June 30,</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49B_20210701__20220630_z1sQ0SGo7r5f" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49E_20200701__20210630_zjPIFpfaV62d" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Hotel revenues:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--HotelRoomsMember_zvc7pZnUUQi" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left; padding-left: 10pt">Hotel rooms</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">26,599,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">12,138,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__us-gaap--FoodAndBeverageMember_zkCpLBDz7Yqg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Food and beverage</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,471,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">293,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--GarageMember_zlLKnJNy67Jb" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Garage</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,112,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,117,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--OtherOperatingDepartmentsMember_zsqNLOXZIqS2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 10pt">Other operating departments</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">352,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">120,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zA3iEJEZ0j5i" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total Hotel revenue</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">31,534,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">14,668,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A8_zN8nHD8DrHyl" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Performance obligations</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 27pt; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Cancelable room reservations or ancillary services</i> are typically satisfied as the good or service is transferred to the hotel guest, which is generally when the room stay occurs.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>●</i></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Noncancelable room reservations and banquet or conference reservations</i> 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.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Other ancillary goods and services</i> 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.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>●</i></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Components of package reservations</i> for which each component could be sold separately to other hotel guests are considered separate performance obligations and are satisfied as set forth above.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Contract assets and liabilities</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We do not have any material contract assets as of June 30, 2022 and 2021, 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.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 $<span id="xdx_902_eus-gaap--ContractWithCustomerLiability_iI_pp0p0_c20200701_zCAtUi1GerTg" title="Contract with customer, liability">375,000</span> at July 1, 2020. Contract liabilities increased to $<span id="xdx_908_eus-gaap--ContractWithCustomerLiability_iI_pp0p0_c20220630_zUulYSTt6Cn1" title="Contract with customer, liability">493,000</span> as of June 30, 2022 from $<span id="xdx_907_eus-gaap--ContractWithCustomerLiability_iI_pp0p0_c20210630_zEF8fPqgpLF9" title="Contract with customer, liability">161,000</span> as of June 30, 2021. The increase for the twelve months ended June 30, 2022 was primarily driven by advance deposits received from customers for services to be performed after June 30, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Contract costs</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
</us-gaap:RevenueFromContractWithCustomerTextBlock>
<us-gaap:DisaggregationOfRevenueTableTextBlock contextRef="From2021-07-01to2022-06-30">
<p id="xdx_898_eus-gaap--DisaggregationOfRevenueTableTextBlock_zrw76HapYxPh" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table present our revenue disaggregated by revenue streams.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B4_z8VPc1aIeun9" style="display: none">SCHEDULE OF REVENUE DISAGGREGATION BY REVENUE STREAMS</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">For the year ended June 30,</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49B_20210701__20220630_z1sQ0SGo7r5f" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49E_20200701__20210630_zjPIFpfaV62d" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Hotel revenues:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--HotelRoomsMember_zvc7pZnUUQi" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left; padding-left: 10pt">Hotel rooms</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">26,599,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">12,138,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__us-gaap--FoodAndBeverageMember_zkCpLBDz7Yqg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Food and beverage</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,471,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">293,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--GarageMember_zlLKnJNy67Jb" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Garage</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,112,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,117,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--OtherOperatingDepartmentsMember_zsqNLOXZIqS2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 10pt">Other operating departments</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">352,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">120,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zA3iEJEZ0j5i" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total Hotel revenue</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">31,534,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">14,668,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>
</us-gaap:DisaggregationOfRevenueTableTextBlock>
<us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax contextRef="From2021-07-012022-06-30_custom_HotelRoomsMember" decimals="0" unitRef="USD"> 26599000 </us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
<us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax contextRef="From2020-07-012021-06-30_custom_HotelRoomsMember" decimals="0" unitRef="USD"> 12138000 </us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
<us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax contextRef="From2021-07-012022-06-30_us-gaap_FoodAndBeverageMember" decimals="0" unitRef="USD"> 1471000 </us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
<us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax contextRef="From2020-07-012021-06-30_us-gaap_FoodAndBeverageMember" decimals="0" unitRef="USD"> 293000 </us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
<us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax contextRef="From2021-07-012022-06-30_custom_GarageMember" decimals="0" unitRef="USD"> 3112000 </us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
<us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax contextRef="From2020-07-012021-06-30_custom_GarageMember" decimals="0" unitRef="USD"> 2117000 </us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
<us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax contextRef="From2021-07-012022-06-30_custom_OtherOperatingDepartmentsMember" decimals="0" unitRef="USD"> 352000 </us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
<us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax contextRef="From2020-07-012021-06-30_custom_OtherOperatingDepartmentsMember" decimals="0" unitRef="USD"> 120000 </us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
<us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax contextRef="From2021-07-01to2022-06-30" decimals="0" unitRef="USD"> 31534000 </us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
<us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> 14668000 </us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
<us-gaap:ContractWithCustomerLiability contextRef="AsOf2020-07-01" decimals="0" unitRef="USD"> 375000 </us-gaap:ContractWithCustomerLiability>
<us-gaap:ContractWithCustomerLiability contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 493000 </us-gaap:ContractWithCustomerLiability>
<us-gaap:ContractWithCustomerLiability contextRef="AsOf2021-06-30" decimals="0" unitRef="USD"> 161000 </us-gaap:ContractWithCustomerLiability>
<PRSI:InvestmentDisclosureTextBlock contextRef="From2021-07-01to2022-06-30">
<p id="xdx_80B_ecustom--InvestmentDisclosureTextBlock_zhd7y4HuHTlh" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 4 –<span id="xdx_82D_zPuUmQP0H561"> INVESTMENT IN HOTEL, NET</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_894_eus-gaap--ScheduleOfRealEstatePropertiesTableTextBlock_zR1sosouMBIf" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investment in Hotel consisted of the following as of:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> <span id="xdx_8B7_zhoQ2P9UTM0b" style="display: none">SCHEDULE OF INVESTMENT IN HOTEL, NET</span></b></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: right"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center">Accumulated</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Net Book</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">June 30, 2022</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Cost</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Depreciation</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Value</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%">Land</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--RealEstateInvestmentPropertyAtCost_iI_pp0p0_c20220630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LandMember_zrpavG3A0Bml" style="width: 14%; text-align: right" title="Cost">1,124,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--RealEstateInvestmentPropertyAccumulatedDepreciation_iNI_pp0p0_di_c20220630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LandMember_zgVud4ecgwog" style="width: 14%; text-align: right" title="Accumulated Depreciation"><span style="-sec-ix-hidden: xdx2ixbrl0650">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--RealEstateInvestmentPropertyNet_iI_pp0p0_c20220630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LandMember_ziOsyBvmTEdf" style="width: 14%; text-align: right" title="Net Book Value">1,124,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Finance lease ROU assets</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--RealEstateInvestmentPropertyAtCost_iI_pp0p0_c20220630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--FinanceLeaseRightOfUseAssetsMember_zmduaV4CKph6" style="text-align: right" title="Cost">1,805,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--RealEstateInvestmentPropertyAccumulatedDepreciation_iNI_pp0p0_di_c20220630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--FinanceLeaseRightOfUseAssetsMember_z7me888zIoo" style="text-align: right" title="Accumulated Depreciation">(922,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--RealEstateInvestmentPropertyNet_iI_pp0p0_c20220630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--FinanceLeaseRightOfUseAssetsMember_z870lRFbbFXa" style="text-align: right" title="Net Book Value">883,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Furniture and equipment</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--RealEstateInvestmentPropertyAtCost_iI_pp0p0_c20220630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_z1C4BoBDie82" style="text-align: right" title="Cost">32,860,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--RealEstateInvestmentPropertyAccumulatedDepreciation_iNI_pp0p0_di_c20220630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zAK05uA6R6I4" style="text-align: right" title="Accumulated Depreciation">(28,567,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--RealEstateInvestmentPropertyNet_iI_pp0p0_c20220630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zas6XpPJLnod" style="text-align: right" title="Net Book Value">4,293,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Building and improvements</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--RealEstateInvestmentPropertyAtCost_iI_pp0p0_c20220630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--BuildingImprovementsMember_z1vNCC0zNomd" style="border-bottom: Black 1.5pt solid; text-align: right" title="Cost">56,274,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--RealEstateInvestmentPropertyAccumulatedDepreciation_iNI_pp0p0_di_c20220630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--BuildingImprovementsMember_zhmQ8swEYMxj" style="border-bottom: Black 1.5pt solid; text-align: right" title="Accumulated Depreciation">(31,344,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--RealEstateInvestmentPropertyNet_iI_pp0p0_c20220630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--BuildingImprovementsMember_zcU7lbG8OIgg" style="border-bottom: Black 1.5pt solid; text-align: right" title="Net Book Value">24,930,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Investment in Hotel, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--RealEstateInvestmentPropertyAtCost_iI_pp0p0_c20220630_zovOf9mW2BIl" style="border-bottom: Black 2.5pt double; text-align: right" title="Cost">92,063,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--RealEstateInvestmentPropertyAccumulatedDepreciation_iNI_pp0p0_di_c20220630_zlSUGlVZOgc" style="border-bottom: Black 2.5pt double; text-align: right" title="Accumulated Depreciation">(60,833,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--RealEstateInvestmentPropertyNet_iI_pp0p0_c20220630_zDGWinypUOVi" style="border-bottom: Black 2.5pt double; text-align: right" title="Net Book Value">31,230,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: right"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center">Accumulated</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Net Book</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">June 30, 2021</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Cost</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Depreciation</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Value</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%">Land</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--RealEstateInvestmentPropertyAtCost_iI_pp0p0_c20210630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LandMember_z3CB5Uwpqjia" style="width: 14%; text-align: right" title="Cost">1,124,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--RealEstateInvestmentPropertyAccumulatedDepreciation_iNI_pp0p0_di_c20210630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LandMember_zcl1DX5PDVs5" style="width: 14%; text-align: right" title="Accumulated Depreciation"><span style="-sec-ix-hidden: xdx2ixbrl0680">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--RealEstateInvestmentPropertyNet_iI_pp0p0_c20210630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LandMember_zZGoBRokTnXi" style="width: 14%; text-align: right" title="Net Book Value">1,124,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Finance lease ROU assets</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--RealEstateInvestmentPropertyAtCost_iI_pp0p0_c20210630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--FinanceLeaseRightOfUseAssetsMember_zQ9c55ZKgiac" style="text-align: right" title="Cost">1,805,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--RealEstateInvestmentPropertyAccumulatedDepreciation_iNI_pp0p0_di_c20210630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--FinanceLeaseRightOfUseAssetsMember_zeNTI8dz9Ptb" style="text-align: right" title="Accumulated Depreciation">(606,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--RealEstateInvestmentPropertyNet_iI_pp0p0_c20210630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--FinanceLeaseRightOfUseAssetsMember_zG1477ov5KB5" style="text-align: right" title="Net Book Value">1,199,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Furniture and equipment</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--RealEstateInvestmentPropertyAtCost_iI_pp0p0_c20210630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zFxIuQmfdZO5" style="text-align: right" title="Cost">31,014,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--RealEstateInvestmentPropertyAccumulatedDepreciation_iNI_pp0p0_di_c20210630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zvYr28wILVfi" style="text-align: right" title="Accumulated Depreciation">(27,956,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--RealEstateInvestmentPropertyNet_iI_pp0p0_c20210630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zdoXDKdWLocg" style="text-align: right" title="Net Book Value">3,058,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Building and improvements</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--RealEstateInvestmentPropertyAtCost_iI_pp0p0_c20210630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--BuildingImprovementsMember_zC4LhctGRTb" style="border-bottom: Black 1.5pt solid; text-align: right" title="Cost">56,194,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--RealEstateInvestmentPropertyAccumulatedDepreciation_iNI_pp0p0_di_c20210630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--BuildingImprovementsMember_zNIHbNOvzLr9" style="border-bottom: Black 1.5pt solid; text-align: right" title="Accumulated Depreciation">(30,062,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--RealEstateInvestmentPropertyNet_iI_pp0p0_c20210630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--BuildingImprovementsMember_zesu1fxsaur3" style="border-bottom: Black 1.5pt solid; text-align: right" title="Net Book Value">26,132,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Investment in Hotel, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--RealEstateInvestmentPropertyAtCost_iI_pp0p0_c20210630_zbw4QEQVBG8j" style="border-bottom: Black 2.5pt double; text-align: right" title="Cost">90,137,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--RealEstateInvestmentPropertyAccumulatedDepreciation_iNI_pp0p0_di_c20210630_zkR8RFTGwda5" style="border-bottom: Black 2.5pt double; text-align: right" title="Accumulated Depreciation">(58,624,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_987_eus-gaap--RealEstateInvestmentPropertyNet_iI_pp0p0_c20210630_zqZtaUKsDPeg" style="border-bottom: Black 2.5pt double; text-align: right" title="Net Book Value">31,513,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A8_zixBka15xFRc" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
</PRSI:InvestmentDisclosureTextBlock>
<us-gaap:ScheduleOfRealEstatePropertiesTableTextBlock contextRef="From2021-07-01to2022-06-30">
<p id="xdx_894_eus-gaap--ScheduleOfRealEstatePropertiesTableTextBlock_zR1sosouMBIf" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investment in Hotel consisted of the following as of:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> <span id="xdx_8B7_zhoQ2P9UTM0b" style="display: none">SCHEDULE OF INVESTMENT IN HOTEL, NET</span></b></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: right"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center">Accumulated</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Net Book</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">June 30, 2022</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Cost</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Depreciation</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Value</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%">Land</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--RealEstateInvestmentPropertyAtCost_iI_pp0p0_c20220630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LandMember_zrpavG3A0Bml" style="width: 14%; text-align: right" title="Cost">1,124,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--RealEstateInvestmentPropertyAccumulatedDepreciation_iNI_pp0p0_di_c20220630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LandMember_zgVud4ecgwog" style="width: 14%; text-align: right" title="Accumulated Depreciation"><span style="-sec-ix-hidden: xdx2ixbrl0650">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--RealEstateInvestmentPropertyNet_iI_pp0p0_c20220630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LandMember_ziOsyBvmTEdf" style="width: 14%; text-align: right" title="Net Book Value">1,124,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Finance lease ROU assets</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--RealEstateInvestmentPropertyAtCost_iI_pp0p0_c20220630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--FinanceLeaseRightOfUseAssetsMember_zmduaV4CKph6" style="text-align: right" title="Cost">1,805,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--RealEstateInvestmentPropertyAccumulatedDepreciation_iNI_pp0p0_di_c20220630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--FinanceLeaseRightOfUseAssetsMember_z7me888zIoo" style="text-align: right" title="Accumulated Depreciation">(922,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--RealEstateInvestmentPropertyNet_iI_pp0p0_c20220630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--FinanceLeaseRightOfUseAssetsMember_z870lRFbbFXa" style="text-align: right" title="Net Book Value">883,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Furniture and equipment</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--RealEstateInvestmentPropertyAtCost_iI_pp0p0_c20220630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_z1C4BoBDie82" style="text-align: right" title="Cost">32,860,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--RealEstateInvestmentPropertyAccumulatedDepreciation_iNI_pp0p0_di_c20220630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zAK05uA6R6I4" style="text-align: right" title="Accumulated Depreciation">(28,567,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--RealEstateInvestmentPropertyNet_iI_pp0p0_c20220630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zas6XpPJLnod" style="text-align: right" title="Net Book Value">4,293,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Building and improvements</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--RealEstateInvestmentPropertyAtCost_iI_pp0p0_c20220630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--BuildingImprovementsMember_z1vNCC0zNomd" style="border-bottom: Black 1.5pt solid; text-align: right" title="Cost">56,274,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--RealEstateInvestmentPropertyAccumulatedDepreciation_iNI_pp0p0_di_c20220630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--BuildingImprovementsMember_zhmQ8swEYMxj" style="border-bottom: Black 1.5pt solid; text-align: right" title="Accumulated Depreciation">(31,344,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--RealEstateInvestmentPropertyNet_iI_pp0p0_c20220630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--BuildingImprovementsMember_zcU7lbG8OIgg" style="border-bottom: Black 1.5pt solid; text-align: right" title="Net Book Value">24,930,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Investment in Hotel, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--RealEstateInvestmentPropertyAtCost_iI_pp0p0_c20220630_zovOf9mW2BIl" style="border-bottom: Black 2.5pt double; text-align: right" title="Cost">92,063,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--RealEstateInvestmentPropertyAccumulatedDepreciation_iNI_pp0p0_di_c20220630_zlSUGlVZOgc" style="border-bottom: Black 2.5pt double; text-align: right" title="Accumulated Depreciation">(60,833,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--RealEstateInvestmentPropertyNet_iI_pp0p0_c20220630_zDGWinypUOVi" style="border-bottom: Black 2.5pt double; text-align: right" title="Net Book Value">31,230,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: right"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center">Accumulated</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Net Book</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">June 30, 2021</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Cost</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Depreciation</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Value</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%">Land</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--RealEstateInvestmentPropertyAtCost_iI_pp0p0_c20210630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LandMember_z3CB5Uwpqjia" style="width: 14%; text-align: right" title="Cost">1,124,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--RealEstateInvestmentPropertyAccumulatedDepreciation_iNI_pp0p0_di_c20210630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LandMember_zcl1DX5PDVs5" style="width: 14%; text-align: right" title="Accumulated Depreciation"><span style="-sec-ix-hidden: xdx2ixbrl0680">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--RealEstateInvestmentPropertyNet_iI_pp0p0_c20210630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LandMember_zZGoBRokTnXi" style="width: 14%; text-align: right" title="Net Book Value">1,124,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Finance lease ROU assets</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--RealEstateInvestmentPropertyAtCost_iI_pp0p0_c20210630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--FinanceLeaseRightOfUseAssetsMember_zQ9c55ZKgiac" style="text-align: right" title="Cost">1,805,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--RealEstateInvestmentPropertyAccumulatedDepreciation_iNI_pp0p0_di_c20210630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--FinanceLeaseRightOfUseAssetsMember_zeNTI8dz9Ptb" style="text-align: right" title="Accumulated Depreciation">(606,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--RealEstateInvestmentPropertyNet_iI_pp0p0_c20210630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--FinanceLeaseRightOfUseAssetsMember_zG1477ov5KB5" style="text-align: right" title="Net Book Value">1,199,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Furniture and equipment</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--RealEstateInvestmentPropertyAtCost_iI_pp0p0_c20210630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zFxIuQmfdZO5" style="text-align: right" title="Cost">31,014,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--RealEstateInvestmentPropertyAccumulatedDepreciation_iNI_pp0p0_di_c20210630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zvYr28wILVfi" style="text-align: right" title="Accumulated Depreciation">(27,956,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--RealEstateInvestmentPropertyNet_iI_pp0p0_c20210630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zdoXDKdWLocg" style="text-align: right" title="Net Book Value">3,058,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Building and improvements</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--RealEstateInvestmentPropertyAtCost_iI_pp0p0_c20210630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--BuildingImprovementsMember_zC4LhctGRTb" style="border-bottom: Black 1.5pt solid; text-align: right" title="Cost">56,194,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--RealEstateInvestmentPropertyAccumulatedDepreciation_iNI_pp0p0_di_c20210630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--BuildingImprovementsMember_zNIHbNOvzLr9" style="border-bottom: Black 1.5pt solid; text-align: right" title="Accumulated Depreciation">(30,062,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--RealEstateInvestmentPropertyNet_iI_pp0p0_c20210630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--BuildingImprovementsMember_zesu1fxsaur3" style="border-bottom: Black 1.5pt solid; text-align: right" title="Net Book Value">26,132,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Investment in Hotel, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--RealEstateInvestmentPropertyAtCost_iI_pp0p0_c20210630_zbw4QEQVBG8j" style="border-bottom: Black 2.5pt double; text-align: right" title="Cost">90,137,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--RealEstateInvestmentPropertyAccumulatedDepreciation_iNI_pp0p0_di_c20210630_zkR8RFTGwda5" style="border-bottom: Black 2.5pt double; text-align: right" title="Accumulated Depreciation">(58,624,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_987_eus-gaap--RealEstateInvestmentPropertyNet_iI_pp0p0_c20210630_zqZtaUKsDPeg" style="border-bottom: Black 2.5pt double; text-align: right" title="Net Book Value">31,513,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>
</us-gaap:ScheduleOfRealEstatePropertiesTableTextBlock>
<us-gaap:RealEstateInvestmentPropertyAtCost contextRef="AsOf2022-06-30_us-gaap_LandMember" decimals="0" unitRef="USD"> 1124000 </us-gaap:RealEstateInvestmentPropertyAtCost>
<us-gaap:RealEstateInvestmentPropertyNet contextRef="AsOf2022-06-30_us-gaap_LandMember" decimals="0" unitRef="USD"> 1124000 </us-gaap:RealEstateInvestmentPropertyNet>
<us-gaap:RealEstateInvestmentPropertyAtCost contextRef="AsOf2022-06-30_custom_FinanceLeaseRightOfUseAssetsMember" decimals="0" unitRef="USD"> 1805000 </us-gaap:RealEstateInvestmentPropertyAtCost>
<us-gaap:RealEstateInvestmentPropertyAccumulatedDepreciation contextRef="AsOf2022-06-30_custom_FinanceLeaseRightOfUseAssetsMember" decimals="0" unitRef="USD"> 922000 </us-gaap:RealEstateInvestmentPropertyAccumulatedDepreciation>
<us-gaap:RealEstateInvestmentPropertyNet contextRef="AsOf2022-06-30_custom_FinanceLeaseRightOfUseAssetsMember" decimals="0" unitRef="USD"> 883000 </us-gaap:RealEstateInvestmentPropertyNet>
<us-gaap:RealEstateInvestmentPropertyAtCost contextRef="AsOf2022-06-30_us-gaap_FurnitureAndFixturesMember" decimals="0" unitRef="USD"> 32860000 </us-gaap:RealEstateInvestmentPropertyAtCost>
<us-gaap:RealEstateInvestmentPropertyAccumulatedDepreciation contextRef="AsOf2022-06-30_us-gaap_FurnitureAndFixturesMember" decimals="0" unitRef="USD"> 28567000 </us-gaap:RealEstateInvestmentPropertyAccumulatedDepreciation>
<us-gaap:RealEstateInvestmentPropertyNet contextRef="AsOf2022-06-30_us-gaap_FurnitureAndFixturesMember" decimals="0" unitRef="USD"> 4293000 </us-gaap:RealEstateInvestmentPropertyNet>
<us-gaap:RealEstateInvestmentPropertyAtCost contextRef="AsOf2022-06-30_us-gaap_BuildingImprovementsMember" decimals="0" unitRef="USD"> 56274000 </us-gaap:RealEstateInvestmentPropertyAtCost>
<us-gaap:RealEstateInvestmentPropertyAccumulatedDepreciation contextRef="AsOf2022-06-30_us-gaap_BuildingImprovementsMember" decimals="0" unitRef="USD"> 31344000 </us-gaap:RealEstateInvestmentPropertyAccumulatedDepreciation>
<us-gaap:RealEstateInvestmentPropertyNet contextRef="AsOf2022-06-30_us-gaap_BuildingImprovementsMember" decimals="0" unitRef="USD"> 24930000 </us-gaap:RealEstateInvestmentPropertyNet>
<us-gaap:RealEstateInvestmentPropertyAtCost contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 92063000 </us-gaap:RealEstateInvestmentPropertyAtCost>
<us-gaap:RealEstateInvestmentPropertyAccumulatedDepreciation contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 60833000 </us-gaap:RealEstateInvestmentPropertyAccumulatedDepreciation>
<us-gaap:RealEstateInvestmentPropertyNet contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 31230000 </us-gaap:RealEstateInvestmentPropertyNet>
<us-gaap:RealEstateInvestmentPropertyAtCost contextRef="AsOf2021-06-30_us-gaap_LandMember" decimals="0" unitRef="USD"> 1124000 </us-gaap:RealEstateInvestmentPropertyAtCost>
<us-gaap:RealEstateInvestmentPropertyNet contextRef="AsOf2021-06-30_us-gaap_LandMember" decimals="0" unitRef="USD"> 1124000 </us-gaap:RealEstateInvestmentPropertyNet>
<us-gaap:RealEstateInvestmentPropertyAtCost contextRef="AsOf2021-06-30_custom_FinanceLeaseRightOfUseAssetsMember" decimals="0" unitRef="USD"> 1805000 </us-gaap:RealEstateInvestmentPropertyAtCost>
<us-gaap:RealEstateInvestmentPropertyAccumulatedDepreciation contextRef="AsOf2021-06-30_custom_FinanceLeaseRightOfUseAssetsMember" decimals="0" unitRef="USD"> 606000 </us-gaap:RealEstateInvestmentPropertyAccumulatedDepreciation>
<us-gaap:RealEstateInvestmentPropertyNet contextRef="AsOf2021-06-30_custom_FinanceLeaseRightOfUseAssetsMember" decimals="0" unitRef="USD"> 1199000 </us-gaap:RealEstateInvestmentPropertyNet>
<us-gaap:RealEstateInvestmentPropertyAtCost contextRef="AsOf2021-06-30_us-gaap_FurnitureAndFixturesMember" decimals="0" unitRef="USD"> 31014000 </us-gaap:RealEstateInvestmentPropertyAtCost>
<us-gaap:RealEstateInvestmentPropertyAccumulatedDepreciation contextRef="AsOf2021-06-30_us-gaap_FurnitureAndFixturesMember" decimals="0" unitRef="USD"> 27956000 </us-gaap:RealEstateInvestmentPropertyAccumulatedDepreciation>
<us-gaap:RealEstateInvestmentPropertyNet contextRef="AsOf2021-06-30_us-gaap_FurnitureAndFixturesMember" decimals="0" unitRef="USD"> 3058000 </us-gaap:RealEstateInvestmentPropertyNet>
<us-gaap:RealEstateInvestmentPropertyAtCost contextRef="AsOf2021-06-30_us-gaap_BuildingImprovementsMember" decimals="0" unitRef="USD"> 56194000 </us-gaap:RealEstateInvestmentPropertyAtCost>
<us-gaap:RealEstateInvestmentPropertyAccumulatedDepreciation contextRef="AsOf2021-06-30_us-gaap_BuildingImprovementsMember" decimals="0" unitRef="USD"> 30062000 </us-gaap:RealEstateInvestmentPropertyAccumulatedDepreciation>
<us-gaap:RealEstateInvestmentPropertyNet contextRef="AsOf2021-06-30_us-gaap_BuildingImprovementsMember" decimals="0" unitRef="USD"> 26132000 </us-gaap:RealEstateInvestmentPropertyNet>
<us-gaap:RealEstateInvestmentPropertyAtCost contextRef="AsOf2021-06-30" decimals="0" unitRef="USD"> 90137000 </us-gaap:RealEstateInvestmentPropertyAtCost>
<us-gaap:RealEstateInvestmentPropertyAccumulatedDepreciation contextRef="AsOf2021-06-30" decimals="0" unitRef="USD"> 58624000 </us-gaap:RealEstateInvestmentPropertyAccumulatedDepreciation>
<us-gaap:RealEstateInvestmentPropertyNet contextRef="AsOf2021-06-30" decimals="0" unitRef="USD"> 31513000 </us-gaap:RealEstateInvestmentPropertyNet>
<us-gaap:RealEstateDisclosureTextBlock contextRef="From2021-07-01to2022-06-30">
<p id="xdx_806_eus-gaap--RealEstateDisclosureTextBlock_zV4Z8IK4euy9" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 5 –<span id="xdx_82B_zx3PiZVsWbT7"> INVESTMENT IN REAL ESTATE</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In August 2007, the Company agreed to acquire <span id="xdx_90D_eus-gaap--BusinessAcquisitionPercentageOfVotingInterestsAcquired_iI_pid_dp_uPure_c20070831__us-gaap--BusinessAcquisitionAxis__custom--InterGroupUluniuIncMember_zxcocumiXd8f" title="Percentage of voting interests acquired">50</span>% interest in InterGroup Uluniu, Inc. (“Uluniu”), a Hawaiian corporation and a <span id="xdx_906_eus-gaap--BusinessAcquisitionPercentageOfVotingInterestsAcquired_iI_pid_dp_uPure_c20070831__us-gaap--BusinessAcquisitionAxis__custom--HawaiianCorporationMember_zId0ojb3N9p2" title="Percentage of voting interests acquired">100</span>% owned subsidiary of InterGroup, for $<span id="xdx_90F_eus-gaap--BusinessCombinationConsiderationTransferred1_c20070801__20070831__us-gaap--BusinessAcquisitionAxis__custom--InterGroupUluniuIncMember_zCGaZuExWAd2" title="Business acquisition, purchase price of acquired entity">973,000</span>, which represents an amount equal to the costs paid by InterGroup for the acquisition and carrying costs of approximately two acres of unimproved land held for development located in Maui, Hawaii. In March 2021, to make both companies more efficient, InterGroup purchased back the <span id="xdx_906_eus-gaap--BusinessAcquisitionPercentageOfVotingInterestsAcquired_iI_pid_dp_uPure_c20210331__us-gaap--BusinessAcquisitionAxis__custom--InterGroupUluniuIncMember_zHMQD2Ox4uR7" title="Percentage of voting interests acquired">50%</span> interest of Uluniu from Portsmouth for $<span id="xdx_90B_eus-gaap--BusinessCombinationConsiderationTransferred1_c20210301__20210331__us-gaap--BusinessAcquisitionAxis__custom--InterGroupUluniuIncMember_zqpxWimX7W09" title="Business acquisition, purchase price of acquired entity">980,000</span>, which represents Portsmouth’s carrying cost of the investment. No gains or losses were realized as a result of the transaction since it was a related-party transaction. As a related-party transaction, the fairness of the financial terms of the transactions were reviewed and approved by the independent director of the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
</us-gaap:RealEstateDisclosureTextBlock>
<us-gaap:BusinessAcquisitionPercentageOfVotingInterestsAcquired contextRef="AsOf2007-08-31_custom_InterGroupUluniuIncMember" decimals="INF" unitRef="Pure"> 0.50 </us-gaap:BusinessAcquisitionPercentageOfVotingInterestsAcquired>
<us-gaap:BusinessAcquisitionPercentageOfVotingInterestsAcquired contextRef="AsOf2007-08-31_custom_HawaiianCorporationMember" decimals="INF" unitRef="Pure"> 1 </us-gaap:BusinessAcquisitionPercentageOfVotingInterestsAcquired>
<us-gaap:BusinessCombinationConsiderationTransferred1 contextRef="From2007-08-012007-08-31_custom_InterGroupUluniuIncMember" decimals="0" unitRef="USD"> 973000 </us-gaap:BusinessCombinationConsiderationTransferred1>
<us-gaap:BusinessAcquisitionPercentageOfVotingInterestsAcquired contextRef="AsOf2021-03-31_custom_InterGroupUluniuIncMember" decimals="INF" unitRef="Pure"> 0.50 </us-gaap:BusinessAcquisitionPercentageOfVotingInterestsAcquired>
<us-gaap:BusinessCombinationConsiderationTransferred1 contextRef="From2021-03-012021-03-31_custom_InterGroupUluniuIncMember" decimals="0" unitRef="USD"> 980000 </us-gaap:BusinessCombinationConsiderationTransferred1>
<us-gaap:InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock contextRef="From2021-07-01to2022-06-30">
<p id="xdx_80B_eus-gaap--InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock_zjxbJyFvjdR9" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 6 - <span id="xdx_825_z7e6cMeQz6Z7">INVESTMENT IN MARKETABLE SECURITIES</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s investment in marketable securities consists primarily of corporate equities. The Company has also invested in income producing securities, which may include interests in real estate-based companies and REITs, where financial benefit could insure to its shareholders through income and/or capital gain.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89E_eus-gaap--MarketableSecuritiesTextBlock_zqTGMIfO2uBe" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of June 30, 2022 and 2021, 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:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B9_zi8CNNmOh6ma" style="display: none">SCHEDULE OF CHANGES IN UNREALIZED GAINS AND LOSSES ON INVESTMENTS</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center">Gross</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Gross</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Net</td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid">Investment</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Cost</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Unrealized Gain</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Unrealized Loss</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Unrealized Loss</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Fair<br/> Value</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">As of June 30, 2022</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Corporate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 35%; padding-bottom: 2.5pt">Equities</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--TradingSecuritiesDebtAmortizedCost_iI_pp0p0_c20220630__us-gaap--FinancialInstrumentAxis__us-gaap--EquitySecuritiesMember_zxtOtSyBaRg2" style="border-bottom: Black 2.5pt double; width: 9%; text-align: right" title="Cost">643,000</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--DebtSecuritiesTradingUnrealizedGain_pp0p0_c20210701__20220630__us-gaap--FinancialInstrumentAxis__us-gaap--EquitySecuritiesMember_zgYX8SqLdTBe" style="border-bottom: Black 2.5pt double; width: 9%; text-align: right" title="Gross Unrealized Gain">42,000</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--DebtSecuritiesTradingUnrealizedLoss_iN_pp0p0_di_c20210701__20220630__us-gaap--FinancialInstrumentAxis__us-gaap--EquitySecuritiesMember_zLpKqgFF44q7" style="border-bottom: Black 2.5pt double; width: 9%; text-align: right" title="Gross Unrealized Loss">(144,000</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--DebtSecuritiesTradingUnrealizedGainLoss_pp0p0_c20210701__20220630__us-gaap--FinancialInstrumentAxis__us-gaap--EquitySecuritiesMember_zdmCKvo2O3rb" style="border-bottom: Black 2.5pt double; width: 9%; text-align: right" title="Net Unrealized Loss">(102,000</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--TradingSecuritiesDebt_iI_pp0p0_c20220630__us-gaap--FinancialInstrumentAxis__us-gaap--EquitySecuritiesMember_zJNaUGHUxkOl" style="border-bottom: Black 2.5pt double; width: 9%; text-align: right" title="Fair Value">541,000</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: right"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">As of June 30, 2021</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Corporate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Equities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--TradingSecuritiesDebtAmortizedCost_iI_pp0p0_c20210630__us-gaap--FinancialInstrumentAxis__us-gaap--EquitySecuritiesMember_zK6u8lSZN2e6" style="border-bottom: Black 2.5pt double; text-align: right" title="Cost">4,987,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98D_eus-gaap--DebtSecuritiesTradingUnrealizedGain_pp0p0_c20200701__20210630__us-gaap--FinancialInstrumentAxis__us-gaap--EquitySecuritiesMember_zAK1P0q12IR1" style="border-bottom: Black 2.5pt double; text-align: right" title="Gross Unrealized Gain">438,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--DebtSecuritiesTradingUnrealizedLoss_iN_pp0p0_di_c20200701__20210630__us-gaap--FinancialInstrumentAxis__us-gaap--EquitySecuritiesMember_z5mrpHAEv0C7" style="border-bottom: Black 2.5pt double; text-align: right" title="Gross Unrealized Loss">(1,889,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--DebtSecuritiesTradingUnrealizedGainLoss_pp0p0_c20200701__20210630__us-gaap--FinancialInstrumentAxis__us-gaap--EquitySecuritiesMember_ze0iHNve8SZe" style="border-bottom: Black 2.5pt double; text-align: right" title="Net Unrealized Loss">(1,451,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--TradingSecuritiesDebt_iI_pp0p0_c20210630__us-gaap--FinancialInstrumentAxis__us-gaap--EquitySecuritiesMember_zDcuqdQhirZ" style="border-bottom: Black 2.5pt double; text-align: right" title="Fair Value">3,536,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AB_zJpkUjGJEPk6" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of June 30, 2021, approximately <span id="xdx_904_ecustom--PercentageOfInvestmentInMarketableSecurities_iI_pid_dp_c20210630__dei--LegalEntityAxis__custom--ComstockMiningIncMember_zA8qb1AaUlQc" title="Percentage of investment in marketable securities">19</span>% of the investment marketable securities balance above is comprised of the common stock of Comstock Mining, Inc. (“Comstock” - NYSE AMERICAN: LODE). As of <span style="background-color: white">June 30, 2022, </span>the Company does not have any investment in the common stock of Comstock. 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.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of June 30, 2022 and 2021, the Company had $<span id="xdx_90E_eus-gaap--HeldToMaturitySecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss_iI_pp0p0_c20220630__us-gaap--FinancialInstrumentAxis__custom--SecuritiesHeldForOverOneYearMember_zApN1raeFujd" title="Unrealized losses related to securities">73,000</span> and $<span id="xdx_908_eus-gaap--HeldToMaturitySecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss_iI_pp0p0_c20210630__us-gaap--FinancialInstrumentAxis__custom--SecuritiesHeldForOverOneYearMember_zlUbnrjHybFe" title="Unrealized losses related to securities">1,873,000</span>, respectively, of unrealized losses related to securities held for over one year; of which $<span id="xdx_906_eus-gaap--MarketableSecurities_iI_pp0p0_c20220630__dei--LegalEntityAxis__custom--ComstockMiningIncMember_zvQpdExPO0Se" title="Investment for marketable securities">0</span> and $<span id="xdx_906_eus-gaap--MarketableSecurities_iI_pp0p0_c20210630__dei--LegalEntityAxis__custom--ComstockMiningIncMember_zMEwg9OwT01f" title="Investment for marketable securities">1,789,000</span> are related to its investment in Comstock, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_890_eus-gaap--GainLossOnInvestmentsTextBlock_zqjHysKJvekj" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net (loss) gain on marketable securities on the statement of operations is comprised of realized and unrealized losses. Below is the breakdown of the two components for the years ended June 30, 2022 and 2021, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BF_zJONxoZA8egl" style="display: none">SCHEDULE OF NET (LOSS) GAIN ON MARKETABLE SECURITIES</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">For the year ended June 30,</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49B_20210701__20220630_zNthsES51Ctd" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_493_20200701__20210630_zW087EqSaHqc" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_403_eus-gaap--MarketableSecuritiesRealizedGainLoss_maMSGLIz6ir_zR3SHVblcPrf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Realized (loss) gain on marketable securities</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(433,000</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">32,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--DebtSecuritiesTradingRealizedLoss_iN_di_msMSGLIz6ir_z1k3sBmVh9hb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Realized loss on marketable securities related to Comstock</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,056,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(572,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--MarketableSecuritiesUnrealizedGainLoss_maMSGLIz6ir_zF8v3pV1F8Kh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Unrealized gain on marketable securities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,348,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">336,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--DebtSecuritiesTradingUnrealizedGain_maMSGLIz6ir_zgdZ3PXbsR5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Unrealized gain on marketable securities related to Comstock</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0765">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,603,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--MarketableSecuritiesGainLossIncludingGainLossOnCommonStock_iT_mtMSGLIz6ir_zTpxP83nugc4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Net (loss) gain on marketable securities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(1,141,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,399,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A9_zENVaTMPrprg" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
</us-gaap:InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock>
<us-gaap:MarketableSecuritiesTextBlock contextRef="From2021-07-01to2022-06-30">
<p id="xdx_89E_eus-gaap--MarketableSecuritiesTextBlock_zqTGMIfO2uBe" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of June 30, 2022 and 2021, 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:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B9_zi8CNNmOh6ma" style="display: none">SCHEDULE OF CHANGES IN UNREALIZED GAINS AND LOSSES ON INVESTMENTS</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center">Gross</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Gross</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Net</td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid">Investment</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Cost</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Unrealized Gain</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Unrealized Loss</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Unrealized Loss</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Fair<br/> Value</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">As of June 30, 2022</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Corporate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 35%; padding-bottom: 2.5pt">Equities</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--TradingSecuritiesDebtAmortizedCost_iI_pp0p0_c20220630__us-gaap--FinancialInstrumentAxis__us-gaap--EquitySecuritiesMember_zxtOtSyBaRg2" style="border-bottom: Black 2.5pt double; width: 9%; text-align: right" title="Cost">643,000</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--DebtSecuritiesTradingUnrealizedGain_pp0p0_c20210701__20220630__us-gaap--FinancialInstrumentAxis__us-gaap--EquitySecuritiesMember_zgYX8SqLdTBe" style="border-bottom: Black 2.5pt double; width: 9%; text-align: right" title="Gross Unrealized Gain">42,000</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--DebtSecuritiesTradingUnrealizedLoss_iN_pp0p0_di_c20210701__20220630__us-gaap--FinancialInstrumentAxis__us-gaap--EquitySecuritiesMember_zLpKqgFF44q7" style="border-bottom: Black 2.5pt double; width: 9%; text-align: right" title="Gross Unrealized Loss">(144,000</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--DebtSecuritiesTradingUnrealizedGainLoss_pp0p0_c20210701__20220630__us-gaap--FinancialInstrumentAxis__us-gaap--EquitySecuritiesMember_zdmCKvo2O3rb" style="border-bottom: Black 2.5pt double; width: 9%; text-align: right" title="Net Unrealized Loss">(102,000</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--TradingSecuritiesDebt_iI_pp0p0_c20220630__us-gaap--FinancialInstrumentAxis__us-gaap--EquitySecuritiesMember_zJNaUGHUxkOl" style="border-bottom: Black 2.5pt double; width: 9%; text-align: right" title="Fair Value">541,000</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: right"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">As of June 30, 2021</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Corporate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Equities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--TradingSecuritiesDebtAmortizedCost_iI_pp0p0_c20210630__us-gaap--FinancialInstrumentAxis__us-gaap--EquitySecuritiesMember_zK6u8lSZN2e6" style="border-bottom: Black 2.5pt double; text-align: right" title="Cost">4,987,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98D_eus-gaap--DebtSecuritiesTradingUnrealizedGain_pp0p0_c20200701__20210630__us-gaap--FinancialInstrumentAxis__us-gaap--EquitySecuritiesMember_zAK1P0q12IR1" style="border-bottom: Black 2.5pt double; text-align: right" title="Gross Unrealized Gain">438,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--DebtSecuritiesTradingUnrealizedLoss_iN_pp0p0_di_c20200701__20210630__us-gaap--FinancialInstrumentAxis__us-gaap--EquitySecuritiesMember_z5mrpHAEv0C7" style="border-bottom: Black 2.5pt double; text-align: right" title="Gross Unrealized Loss">(1,889,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--DebtSecuritiesTradingUnrealizedGainLoss_pp0p0_c20200701__20210630__us-gaap--FinancialInstrumentAxis__us-gaap--EquitySecuritiesMember_ze0iHNve8SZe" style="border-bottom: Black 2.5pt double; text-align: right" title="Net Unrealized Loss">(1,451,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--TradingSecuritiesDebt_iI_pp0p0_c20210630__us-gaap--FinancialInstrumentAxis__us-gaap--EquitySecuritiesMember_zDcuqdQhirZ" style="border-bottom: Black 2.5pt double; text-align: right" title="Fair Value">3,536,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>
</us-gaap:MarketableSecuritiesTextBlock>
<us-gaap:TradingSecuritiesDebtAmortizedCost contextRef="AsOf2022-06-30_us-gaap_EquitySecuritiesMember" decimals="0" unitRef="USD"> 643000 </us-gaap:TradingSecuritiesDebtAmortizedCost>
<us-gaap:DebtSecuritiesTradingUnrealizedGain contextRef="From2021-07-012022-06-30_us-gaap_EquitySecuritiesMember" decimals="0" unitRef="USD"> 42000 </us-gaap:DebtSecuritiesTradingUnrealizedGain>
<us-gaap:DebtSecuritiesTradingUnrealizedLoss contextRef="From2021-07-012022-06-30_us-gaap_EquitySecuritiesMember" decimals="0" unitRef="USD"> 144000 </us-gaap:DebtSecuritiesTradingUnrealizedLoss>
<us-gaap:DebtSecuritiesTradingUnrealizedGainLoss contextRef="From2021-07-012022-06-30_us-gaap_EquitySecuritiesMember" decimals="0" unitRef="USD"> -102000 </us-gaap:DebtSecuritiesTradingUnrealizedGainLoss>
<us-gaap:TradingSecuritiesDebt contextRef="AsOf2022-06-30_us-gaap_EquitySecuritiesMember" decimals="0" unitRef="USD"> 541000 </us-gaap:TradingSecuritiesDebt>
<us-gaap:TradingSecuritiesDebtAmortizedCost contextRef="AsOf2021-06-30_us-gaap_EquitySecuritiesMember" decimals="0" unitRef="USD"> 4987000 </us-gaap:TradingSecuritiesDebtAmortizedCost>
<us-gaap:DebtSecuritiesTradingUnrealizedGain contextRef="From2020-07-012021-06-30_us-gaap_EquitySecuritiesMember" decimals="0" unitRef="USD"> 438000 </us-gaap:DebtSecuritiesTradingUnrealizedGain>
<us-gaap:DebtSecuritiesTradingUnrealizedLoss contextRef="From2020-07-012021-06-30_us-gaap_EquitySecuritiesMember" decimals="0" unitRef="USD"> 1889000 </us-gaap:DebtSecuritiesTradingUnrealizedLoss>
<us-gaap:DebtSecuritiesTradingUnrealizedGainLoss contextRef="From2020-07-012021-06-30_us-gaap_EquitySecuritiesMember" decimals="0" unitRef="USD"> -1451000 </us-gaap:DebtSecuritiesTradingUnrealizedGainLoss>
<us-gaap:TradingSecuritiesDebt contextRef="AsOf2021-06-30_us-gaap_EquitySecuritiesMember" decimals="0" unitRef="USD"> 3536000 </us-gaap:TradingSecuritiesDebt>
<PRSI:PercentageOfInvestmentInMarketableSecurities contextRef="AsOf2021-06-30_custom_ComstockMiningIncMember" decimals="INF" unitRef="Pure"> 0.19 </PRSI:PercentageOfInvestmentInMarketableSecurities>
<us-gaap:HeldToMaturitySecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss contextRef="AsOf2022-06-30_custom_SecuritiesHeldForOverOneYearMember" decimals="0" unitRef="USD"> 73000 </us-gaap:HeldToMaturitySecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss>
<us-gaap:HeldToMaturitySecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss contextRef="AsOf2021-06-30_custom_SecuritiesHeldForOverOneYearMember" decimals="0" unitRef="USD"> 1873000 </us-gaap:HeldToMaturitySecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss>
<us-gaap:MarketableSecurities contextRef="AsOf2022-06-30_custom_ComstockMiningIncMember" decimals="0" unitRef="USD"> 0 </us-gaap:MarketableSecurities>
<us-gaap:MarketableSecurities contextRef="AsOf2021-06-30_custom_ComstockMiningIncMember" decimals="0" unitRef="USD"> 1789000 </us-gaap:MarketableSecurities>
<us-gaap:GainLossOnInvestmentsTextBlock contextRef="From2021-07-01to2022-06-30">
<p id="xdx_890_eus-gaap--GainLossOnInvestmentsTextBlock_zqjHysKJvekj" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net (loss) gain on marketable securities on the statement of operations is comprised of realized and unrealized losses. Below is the breakdown of the two components for the years ended June 30, 2022 and 2021, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BF_zJONxoZA8egl" style="display: none">SCHEDULE OF NET (LOSS) GAIN ON MARKETABLE SECURITIES</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">For the year ended June 30,</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49B_20210701__20220630_zNthsES51Ctd" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_493_20200701__20210630_zW087EqSaHqc" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_403_eus-gaap--MarketableSecuritiesRealizedGainLoss_maMSGLIz6ir_zR3SHVblcPrf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Realized (loss) gain on marketable securities</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(433,000</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">32,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--DebtSecuritiesTradingRealizedLoss_iN_di_msMSGLIz6ir_z1k3sBmVh9hb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Realized loss on marketable securities related to Comstock</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,056,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(572,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--MarketableSecuritiesUnrealizedGainLoss_maMSGLIz6ir_zF8v3pV1F8Kh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Unrealized gain on marketable securities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,348,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">336,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--DebtSecuritiesTradingUnrealizedGain_maMSGLIz6ir_zgdZ3PXbsR5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Unrealized gain on marketable securities related to Comstock</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0765">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,603,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--MarketableSecuritiesGainLossIncludingGainLossOnCommonStock_iT_mtMSGLIz6ir_zTpxP83nugc4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Net (loss) gain on marketable securities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(1,141,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,399,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>
</us-gaap:GainLossOnInvestmentsTextBlock>
<us-gaap:MarketableSecuritiesRealizedGainLoss contextRef="From2021-07-01to2022-06-30" decimals="0" unitRef="USD"> -433000 </us-gaap:MarketableSecuritiesRealizedGainLoss>
<us-gaap:MarketableSecuritiesRealizedGainLoss contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> 32000 </us-gaap:MarketableSecuritiesRealizedGainLoss>
<us-gaap:DebtSecuritiesTradingRealizedLoss contextRef="From2021-07-01to2022-06-30" decimals="0" unitRef="USD"> 2056000 </us-gaap:DebtSecuritiesTradingRealizedLoss>
<us-gaap:DebtSecuritiesTradingRealizedLoss contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> 572000 </us-gaap:DebtSecuritiesTradingRealizedLoss>
<us-gaap:MarketableSecuritiesUnrealizedGainLoss contextRef="From2021-07-01to2022-06-30" decimals="0" unitRef="USD"> 1348000 </us-gaap:MarketableSecuritiesUnrealizedGainLoss>
<us-gaap:MarketableSecuritiesUnrealizedGainLoss contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> 336000 </us-gaap:MarketableSecuritiesUnrealizedGainLoss>
<us-gaap:DebtSecuritiesTradingUnrealizedGain contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> 1603000 </us-gaap:DebtSecuritiesTradingUnrealizedGain>
<PRSI:MarketableSecuritiesGainLossIncludingGainLossOnCommonStock contextRef="From2021-07-01to2022-06-30" decimals="0" unitRef="USD"> -1141000 </PRSI:MarketableSecuritiesGainLossIncludingGainLossOnCommonStock>
<PRSI:MarketableSecuritiesGainLossIncludingGainLossOnCommonStock contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> 1399000 </PRSI:MarketableSecuritiesGainLossIncludingGainLossOnCommonStock>
<us-gaap:FairValueDisclosuresTextBlock contextRef="From2021-07-01to2022-06-30">
<p id="xdx_80F_eus-gaap--FairValueDisclosuresTextBlock_zDxVDe5QXKNf" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 7 - <span><span id="xdx_826_z6M6jrNsyUa9">FAIR VALUE MEASUREMENTS</span></span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_896_eus-gaap--FairValueAssetsMeasuredOnRecurringBasisTextBlock_zeFOR5LaGZUl" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The carrying values of the Company’s financial instruments not required to be carried at fair value on a recurring basis approximate fair value due to their short maturities (i.e., accounts receivable, other assets, accounts payable and other liabilities, due to securities broker and obligations for securities sold) or the nature and terms of the obligation (i.e., other notes payable and mortgage notes payable).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The assets measured at fair value on a recurring basis are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B7_zCAx5YFgEtl1" style="display: none">SCHEDULE OF FAIR VALUE, ASSETS MEASURED ON RECURRING BASIS</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 60%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of June 30, 2022</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_492_20220630__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zcRHZUYrTMdc" style="border-bottom: Black 1.5pt solid; text-align: center">Level 1</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Investment in marketable securities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--TradingSecurities_iI_pp0p0_hus-gaap--InvestmentTypeAxis__custom--CommunicationServicesMember_zM1Fk0U47Zag" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: left; padding-left: 10pt">Communication services</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">355,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--TradingSecurities_iI_pp0p0_hus-gaap--InvestmentTypeAxis__custom--REITsAndRealEstateCompaniesMember_zxDp8G5hLAuj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">REITs and real estate companies</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">162,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--TradingSecurities_iI_pp0p0_hus-gaap--InvestmentTypeAxis__custom--BasicMaterialsMember_zyXWto8ol8q8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Basic materials</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--TradingSecurities_iI_pp0p0_hus-gaap--InvestmentTypeAxis__custom--UtilitiesMember_zIlIt2bQF7Vc" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Utilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--TradingSecurities_iI_pp0p0_hus-gaap--InvestmentTypeAxis__custom--TechnologyMember_zkT2UGMDgsel" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; padding-left: 10pt">Technology</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--TradingSecurities_iI_pp0p0_zbYaZ9WP4Lqd" style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right; padding-bottom: 2.5pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Investment in marketable securities</span></td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">541,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">  </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 60%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of June 30, 2021</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_498_20210630__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zfC67qao0Lw9" style="border-bottom: Black 1.5pt solid; text-align: center">Level 1</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Investment in marketable securities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--TradingSecurities_iI_pp0p0_hus-gaap--InvestmentTypeAxis__custom--CommunicationServicesMember_zfzXhrKhSzf9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: left; padding-left: 10pt">Communication services</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">1,334,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--TradingSecurities_iI_pp0p0_hus-gaap--InvestmentTypeAxis__custom--BasicMaterialsMember_zhjuevTYioFh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Basic materials</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">720,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--TradingSecurities_iI_pp0p0_hus-gaap--InvestmentTypeAxis__custom--IndustrialsMember_z8BPWxwVwl5l" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Industrials</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">653,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--TradingSecurities_iI_pp0p0_hus-gaap--InvestmentTypeAxis__custom--REITsAndRealEstateCompaniesMember_zBmoPBN4t1o3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">REITs and real estate companies</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">438,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--TradingSecurities_iI_pp0p0_hus-gaap--InvestmentTypeAxis__custom--EnergyMember_z4gE1GxSPZD3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Energy</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">250,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--TradingSecurities_iI_pp0p0_hus-gaap--InvestmentTypeAxis__us-gaap--HealthCareMember_zVIDgHmuJA19" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt; padding-left: 10pt">Healthcare</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">141,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--TradingSecurities_iI_pp0p0_zzBDvgsGlz4b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right; padding-bottom: 2.5pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Investment in marketable securities</span></td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,536,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A3_zvi1MFZuyxMj" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The fair values of investments in marketable securities are determined by the most recently traded price of each security at the balance sheet date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_892_eus-gaap--FairValueAssetsMeasuredOnNonrecurringBasisTextBlock_z0rO6rIXikNh" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial assets that are measured at fair value on a non-recurring basis and are not included in the tables above include “Other investments in non-marketable securities,” that were initially measured at cost and have been written down to fair value as a result of impairment or adjusted to record the fair value of new instruments received (i.e., preferred shares) in exchange for old instruments (i.e., debt instruments). The following table shows the fair value hierarchy for these assets measured at fair value on a non-recurring basis as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span id="xdx_8BC_zu6xP8ZfQGzl" style="display: none">SCHEDULE OF FAIR VALUE, ASSETS MEASURED ON NONRECURRING BASIS</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">Assets</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">Level 3</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">June 30, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">Net loss for the<br/> year ended June 30, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Other non-marketable investments</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--AssetsFairValueDisclosure_iI_pp0p0_c20220630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zxUc5KkacXW8" style="width: 16%; text-align: right" title="Other non-marketable investments"><span style="-sec-ix-hidden: xdx2ixbrl0803">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--AssetsFairValueDisclosure_iI_pp0p0_c20220630_zvuC7DUg3Mri" style="width: 16%; text-align: right" title="Other non-marketable investments"><span style="-sec-ix-hidden: xdx2ixbrl0805">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--GainLossOnSaleOfOtherInvestments_pp0p0_c20210701__20220630_z6qdEiTeqbF5" style="width: 16%; text-align: right" title="Net loss for the period">(20,000</td><td style="width: 1%; text-align: left">)</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: right"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">Net loss for the</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif">Assets</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Level 3</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">June 30, 2021</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">year ended June<br/> 30, 2021</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 40%; text-align: left">Other non-marketable investments</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--AssetsFairValueDisclosure_iI_pp0p0_c20210630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zPUuZtQRcJmc" style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right" title="Other non-marketable investments">20,000</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--AssetsFairValueDisclosure_iI_pp0p0_c20210630_zHXF2ehZVYZk" style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right" title="Other non-marketable investments">20,000</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--GainLossOnSaleOfOtherInvestments_pp0p0_c20200701__20210630_zhpEb6tycYXc" style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right" title="Net loss for the period">(38,000</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">)</td></tr> </table> <p id="xdx_8A1_z8u93MJy403j" style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"/> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For fiscal year ended June 30, 2022 and 2021, we received distribution from other non-marketable investments of <span id="xdx_901_ecustom--OtherNonmarketableInvestments_pp0p0_dc_c20210701__20220630_zGTiWKtbCG9e" title="Other non-marketable investments">zero</span> and $<span id="xdx_901_ecustom--OtherNonmarketableInvestments_pp0p0_c20200701__20210630_z8pqhDcT52Dh" title="Other non-marketable investments">30,000</span>, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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. These investments are reviewed on a periodic basis for other-than-temporary impairment. When determining the fair value of these investments on a non-recurring basis, the Company uses valuation techniques such as the market approach and the unobservable inputs include factors such as conversion ratios and the stock price of the underlying convertible instruments. 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.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
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<us-gaap:FairValueAssetsMeasuredOnRecurringBasisTextBlock contextRef="From2021-07-01to2022-06-30">
<p id="xdx_896_eus-gaap--FairValueAssetsMeasuredOnRecurringBasisTextBlock_zeFOR5LaGZUl" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The carrying values of the Company’s financial instruments not required to be carried at fair value on a recurring basis approximate fair value due to their short maturities (i.e., accounts receivable, other assets, accounts payable and other liabilities, due to securities broker and obligations for securities sold) or the nature and terms of the obligation (i.e., other notes payable and mortgage notes payable).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The assets measured at fair value on a recurring basis are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B7_zCAx5YFgEtl1" style="display: none">SCHEDULE OF FAIR VALUE, ASSETS MEASURED ON RECURRING BASIS</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 60%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of June 30, 2022</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_492_20220630__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zcRHZUYrTMdc" style="border-bottom: Black 1.5pt solid; text-align: center">Level 1</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Investment in marketable securities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--TradingSecurities_iI_pp0p0_hus-gaap--InvestmentTypeAxis__custom--CommunicationServicesMember_zM1Fk0U47Zag" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: left; padding-left: 10pt">Communication services</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">355,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--TradingSecurities_iI_pp0p0_hus-gaap--InvestmentTypeAxis__custom--REITsAndRealEstateCompaniesMember_zxDp8G5hLAuj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">REITs and real estate companies</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">162,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--TradingSecurities_iI_pp0p0_hus-gaap--InvestmentTypeAxis__custom--BasicMaterialsMember_zyXWto8ol8q8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Basic materials</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--TradingSecurities_iI_pp0p0_hus-gaap--InvestmentTypeAxis__custom--UtilitiesMember_zIlIt2bQF7Vc" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Utilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--TradingSecurities_iI_pp0p0_hus-gaap--InvestmentTypeAxis__custom--TechnologyMember_zkT2UGMDgsel" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; padding-left: 10pt">Technology</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--TradingSecurities_iI_pp0p0_zbYaZ9WP4Lqd" style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right; padding-bottom: 2.5pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Investment in marketable securities</span></td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">541,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">  </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 60%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of June 30, 2021</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_498_20210630__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zfC67qao0Lw9" style="border-bottom: Black 1.5pt solid; text-align: center">Level 1</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Investment in marketable securities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--TradingSecurities_iI_pp0p0_hus-gaap--InvestmentTypeAxis__custom--CommunicationServicesMember_zfzXhrKhSzf9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: left; padding-left: 10pt">Communication services</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">1,334,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--TradingSecurities_iI_pp0p0_hus-gaap--InvestmentTypeAxis__custom--BasicMaterialsMember_zhjuevTYioFh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Basic materials</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">720,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--TradingSecurities_iI_pp0p0_hus-gaap--InvestmentTypeAxis__custom--IndustrialsMember_z8BPWxwVwl5l" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Industrials</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">653,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--TradingSecurities_iI_pp0p0_hus-gaap--InvestmentTypeAxis__custom--REITsAndRealEstateCompaniesMember_zBmoPBN4t1o3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">REITs and real estate companies</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">438,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--TradingSecurities_iI_pp0p0_hus-gaap--InvestmentTypeAxis__custom--EnergyMember_z4gE1GxSPZD3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Energy</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">250,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--TradingSecurities_iI_pp0p0_hus-gaap--InvestmentTypeAxis__us-gaap--HealthCareMember_zVIDgHmuJA19" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt; padding-left: 10pt">Healthcare</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">141,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--TradingSecurities_iI_pp0p0_zzBDvgsGlz4b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right; padding-bottom: 2.5pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Investment in marketable securities</span></td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,536,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>
</us-gaap:FairValueAssetsMeasuredOnRecurringBasisTextBlock>
<us-gaap:TradingSecurities contextRef="AsOf2022-06-30_us-gaap_FairValueMeasurementsRecurringMember_us-gaap_FairValueInputsLevel1Member_custom_CommunicationServicesMember" decimals="0" unitRef="USD"> 355000 </us-gaap:TradingSecurities>
<us-gaap:TradingSecurities contextRef="AsOf2022-06-30_us-gaap_FairValueMeasurementsRecurringMember_us-gaap_FairValueInputsLevel1Member_custom_REITsAndRealEstateCompaniesMember" decimals="0" unitRef="USD"> 162000 </us-gaap:TradingSecurities>
<us-gaap:TradingSecurities contextRef="AsOf2022-06-30_us-gaap_FairValueMeasurementsRecurringMember_us-gaap_FairValueInputsLevel1Member_custom_BasicMaterialsMember" decimals="0" unitRef="USD"> 18000 </us-gaap:TradingSecurities>
<us-gaap:TradingSecurities contextRef="AsOf2022-06-30_us-gaap_FairValueMeasurementsRecurringMember_us-gaap_FairValueInputsLevel1Member_custom_UtilitiesMember" decimals="0" unitRef="USD"> 5000 </us-gaap:TradingSecurities>
<us-gaap:TradingSecurities contextRef="AsOf2022-06-30_us-gaap_FairValueMeasurementsRecurringMember_us-gaap_FairValueInputsLevel1Member_custom_TechnologyMember" decimals="0" unitRef="USD"> 1000 </us-gaap:TradingSecurities>
<us-gaap:TradingSecurities contextRef="AsOf2022-06-30_us-gaap_FairValueMeasurementsRecurringMember_us-gaap_FairValueInputsLevel1Member" decimals="0" unitRef="USD"> 541000 </us-gaap:TradingSecurities>
<us-gaap:TradingSecurities contextRef="AsOf2021-06-30_us-gaap_FairValueMeasurementsRecurringMember_us-gaap_FairValueInputsLevel1Member_custom_CommunicationServicesMember" decimals="0" unitRef="USD"> 1334000 </us-gaap:TradingSecurities>
<us-gaap:TradingSecurities contextRef="AsOf2021-06-30_us-gaap_FairValueMeasurementsRecurringMember_us-gaap_FairValueInputsLevel1Member_custom_BasicMaterialsMember" decimals="0" unitRef="USD"> 720000 </us-gaap:TradingSecurities>
<us-gaap:TradingSecurities contextRef="AsOf2021-06-30_us-gaap_FairValueMeasurementsRecurringMember_us-gaap_FairValueInputsLevel1Member_custom_IndustrialsMember" decimals="0" unitRef="USD"> 653000 </us-gaap:TradingSecurities>
<us-gaap:TradingSecurities contextRef="AsOf2021-06-30_us-gaap_FairValueMeasurementsRecurringMember_us-gaap_FairValueInputsLevel1Member_custom_REITsAndRealEstateCompaniesMember" decimals="0" unitRef="USD"> 438000 </us-gaap:TradingSecurities>
<us-gaap:TradingSecurities contextRef="AsOf2021-06-30_us-gaap_FairValueMeasurementsRecurringMember_us-gaap_FairValueInputsLevel1Member_custom_EnergyMember" decimals="0" unitRef="USD"> 250000 </us-gaap:TradingSecurities>
<us-gaap:TradingSecurities contextRef="AsOf2021-06-30_us-gaap_FairValueMeasurementsRecurringMember_us-gaap_FairValueInputsLevel1Member_us-gaap_HealthCareMember" decimals="0" unitRef="USD"> 141000 </us-gaap:TradingSecurities>
<us-gaap:TradingSecurities contextRef="AsOf2021-06-30_us-gaap_FairValueMeasurementsRecurringMember_us-gaap_FairValueInputsLevel1Member" decimals="0" unitRef="USD"> 3536000 </us-gaap:TradingSecurities>
<us-gaap:FairValueAssetsMeasuredOnNonrecurringBasisTextBlock contextRef="From2021-07-01to2022-06-30">
<p id="xdx_892_eus-gaap--FairValueAssetsMeasuredOnNonrecurringBasisTextBlock_z0rO6rIXikNh" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial assets that are measured at fair value on a non-recurring basis and are not included in the tables above include “Other investments in non-marketable securities,” that were initially measured at cost and have been written down to fair value as a result of impairment or adjusted to record the fair value of new instruments received (i.e., preferred shares) in exchange for old instruments (i.e., debt instruments). The following table shows the fair value hierarchy for these assets measured at fair value on a non-recurring basis as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span id="xdx_8BC_zu6xP8ZfQGzl" style="display: none">SCHEDULE OF FAIR VALUE, ASSETS MEASURED ON NONRECURRING BASIS</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">Assets</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">Level 3</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">June 30, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">Net loss for the<br/> year ended June 30, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Other non-marketable investments</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--AssetsFairValueDisclosure_iI_pp0p0_c20220630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zxUc5KkacXW8" style="width: 16%; text-align: right" title="Other non-marketable investments"><span style="-sec-ix-hidden: xdx2ixbrl0803">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--AssetsFairValueDisclosure_iI_pp0p0_c20220630_zvuC7DUg3Mri" style="width: 16%; text-align: right" title="Other non-marketable investments"><span style="-sec-ix-hidden: xdx2ixbrl0805">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--GainLossOnSaleOfOtherInvestments_pp0p0_c20210701__20220630_z6qdEiTeqbF5" style="width: 16%; text-align: right" title="Net loss for the period">(20,000</td><td style="width: 1%; text-align: left">)</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: right"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">Net loss for the</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif">Assets</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Level 3</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">June 30, 2021</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">year ended June<br/> 30, 2021</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 40%; text-align: left">Other non-marketable investments</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--AssetsFairValueDisclosure_iI_pp0p0_c20210630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zPUuZtQRcJmc" style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right" title="Other non-marketable investments">20,000</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--AssetsFairValueDisclosure_iI_pp0p0_c20210630_zHXF2ehZVYZk" style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right" title="Other non-marketable investments">20,000</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--GainLossOnSaleOfOtherInvestments_pp0p0_c20200701__20210630_zhpEb6tycYXc" style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right" title="Net loss for the period">(38,000</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">)</td></tr> </table>
</us-gaap:FairValueAssetsMeasuredOnNonrecurringBasisTextBlock>
<us-gaap:GainLossOnSaleOfOtherInvestments contextRef="From2021-07-01to2022-06-30" decimals="0" unitRef="USD"> -20000 </us-gaap:GainLossOnSaleOfOtherInvestments>
<us-gaap:AssetsFairValueDisclosure contextRef="AsOf2021-06-30_us-gaap_FairValueInputsLevel3Member" decimals="0" unitRef="USD"> 20000 </us-gaap:AssetsFairValueDisclosure>
<us-gaap:AssetsFairValueDisclosure contextRef="AsOf2021-06-30" decimals="0" unitRef="USD"> 20000 </us-gaap:AssetsFairValueDisclosure>
<us-gaap:GainLossOnSaleOfOtherInvestments contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> -38000 </us-gaap:GainLossOnSaleOfOtherInvestments>
<PRSI:OtherNonmarketableInvestments contextRef="From2021-07-01to2022-06-30" decimals="0" unitRef="USD"> 0 </PRSI:OtherNonmarketableInvestments>
<PRSI:OtherNonmarketableInvestments contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> 30000 </PRSI:OtherNonmarketableInvestments>
<us-gaap:OtherAssetsDisclosureTextBlock contextRef="From2021-07-01to2022-06-30">
<p id="xdx_805_eus-gaap--OtherAssetsDisclosureTextBlock_z5EngaToLZv2" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 8 – <span id="xdx_827_zqDsliUtB7pe">OTHER ASSETS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_895_eus-gaap--ScheduleOfOtherAssetsTableTextBlock_zcCT7WXXYuH1" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other assets consist of the following as of June 30:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B6_zs0KAjtlJpKe" style="display: none">SCHEDULE OF OTHER ASSETS</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="text-align: right"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_490_20220630_zkFtygD6pmx6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_490_20210630_zGcrNmGaV6B5" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--InventoryNet_iI_pp0p0_maOAzqwD_zhilTDn6bDn8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Inventory - Hotel</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">27,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">37,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--PrepaidExpenseCurrentAndNoncurrent_iI_pp0p0_maOAzqwD_zTGaCP7Ss4e7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Prepaid expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">534,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">381,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--OtherAssetsMiscellaneous_iI_pp0p0_maOAzqwD_z3qUBdN5bZUl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Miscellaneous assets</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">291,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">283,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--OtherAssets_iTI_pp0p0_mtOAzqwD_zfCPoPwsKrt" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total other assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">852,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">701,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A0_zwz6XhvzCEa" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
</us-gaap:OtherAssetsDisclosureTextBlock>
<us-gaap:ScheduleOfOtherAssetsTableTextBlock contextRef="From2021-07-01to2022-06-30">
<p id="xdx_895_eus-gaap--ScheduleOfOtherAssetsTableTextBlock_zcCT7WXXYuH1" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other assets consist of the following as of June 30:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B6_zs0KAjtlJpKe" style="display: none">SCHEDULE OF OTHER ASSETS</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="text-align: right"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_490_20220630_zkFtygD6pmx6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_490_20210630_zGcrNmGaV6B5" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--InventoryNet_iI_pp0p0_maOAzqwD_zhilTDn6bDn8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Inventory - Hotel</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">27,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">37,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--PrepaidExpenseCurrentAndNoncurrent_iI_pp0p0_maOAzqwD_zTGaCP7Ss4e7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Prepaid expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">534,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">381,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--OtherAssetsMiscellaneous_iI_pp0p0_maOAzqwD_z3qUBdN5bZUl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Miscellaneous assets</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">291,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">283,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--OtherAssets_iTI_pp0p0_mtOAzqwD_zfCPoPwsKrt" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total other assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">852,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">701,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>
</us-gaap:ScheduleOfOtherAssetsTableTextBlock>
<us-gaap:InventoryNet contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 27000 </us-gaap:InventoryNet>
<us-gaap:InventoryNet contextRef="AsOf2021-06-30" decimals="0" unitRef="USD"> 37000 </us-gaap:InventoryNet>
<us-gaap:PrepaidExpenseCurrentAndNoncurrent contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 534000 </us-gaap:PrepaidExpenseCurrentAndNoncurrent>
<us-gaap:PrepaidExpenseCurrentAndNoncurrent contextRef="AsOf2021-06-30" decimals="0" unitRef="USD"> 381000 </us-gaap:PrepaidExpenseCurrentAndNoncurrent>
<us-gaap:OtherAssetsMiscellaneous contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 291000 </us-gaap:OtherAssetsMiscellaneous>
<us-gaap:OtherAssetsMiscellaneous contextRef="AsOf2021-06-30" decimals="0" unitRef="USD"> 283000 </us-gaap:OtherAssetsMiscellaneous>
<us-gaap:OtherAssets contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 852000 </us-gaap:OtherAssets>
<us-gaap:OtherAssets contextRef="AsOf2021-06-30" decimals="0" unitRef="USD"> 701000 </us-gaap:OtherAssets>
<PRSI:RelatedPartyAndOtherFinancingTransactionsTextBlock contextRef="From2021-07-01to2022-06-30">
<p id="xdx_800_ecustom--RelatedPartyAndOtherFinancingTransactionsTextBlock_zXKke0lFRs13" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 9 – <span><span><span id="xdx_829_zrOgkBcDkFL2">RELATED PARTY AND OTHER FINANCING TRANSACTIONS</span></span></span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_892_ecustom--ScheduleOfRelatedPartyAndOtherNotesPayableTableTextBlock_zxbVDKflVcAa" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following summarizes the balances of related party and other notes payable as of June 30, 2022 and 2021, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BF_zuH9K9oLR779" style="display: none">SCHEDULE OF RELATED PARTY AND OTHER NOTES PAYABLE</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">As of June 30,</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49F_20220630_zjUHER2Lgxqd" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_498_20210630_zMg2afV1G1S6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_40B_eus-gaap--DueToOtherRelatedPartiesCurrentAndNoncurrent_iI_pp0p0_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--NotePayableInterGroupMember_zWznSER6YGVl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Note payable - InterGroup</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">14,200,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">6,650,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--DueToOtherRelatedPartiesCurrentAndNoncurrent_iI_pp0p0_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--NotePayableHiltonMember_zIinNknN4w0e" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Note payable - Hilton</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,375,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,692,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--DueToOtherRelatedPartiesCurrentAndNoncurrent_iI_pp0p0_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--NotePayableAimbridgeMember_ziyepuVzHV02" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Note payable - Aimbridge</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,146,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,396,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DueToOtherRelatedPartiesCurrentAndNoncurrent_iI_pp0p0_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SBALoanJusticeMember_zLWqs0k9BGS7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">SBA Loan - Justice</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0848">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,000,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--DueToOtherRelatedPartiesCurrentAndNoncurrent_iI_pp0p0_zcLljXgCFQbh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total related party and other notes payable</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">17,721,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">12,738,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A0_ze6TuIqPZKTh" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 2, 2014, the Partnership obtained from InterGroup an unsecured loan in the principal amount of $<span id="xdx_900_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20140702__us-gaap--LongtermDebtTypeAxis__us-gaap--UnsecuredDebtMember_zU0KIE5XEmMd" title="Debt instrument, face amount">4,250,000</span> at <span id="xdx_90A_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_c20140702__us-gaap--LongtermDebtTypeAxis__us-gaap--UnsecuredDebtMember_zCNzXBd7gVWj" title="Debt instrument, interest rate, stated percentage">12</span>% per year fixed interest, with a term of <span id="xdx_90D_eus-gaap--DebtInstrumentTerm_dtY_c20140629__20140702__us-gaap--LongtermDebtTypeAxis__us-gaap--UnsecuredDebtMember_zMzU3Sk3XdO4" title="Debt instrument terms">2</span> years, payable interest only each month. InterGroup received a <span id="xdx_905_ecustom--PercentageOfLoanFeeReceived_pid_dp_c20140629__20140702__us-gaap--LongtermDebtTypeAxis__us-gaap--UnsecuredDebtMember_zYeyMlfcXQd4" title="Percentage of loan fee received">3</span>% loan fee. The loan may be prepaid at any time without penalty. <span id="xdx_903_eus-gaap--DebtInstrumentMaturityDateDescription_c20140629__20140702__us-gaap--LongtermDebtTypeAxis__us-gaap--UnsecuredDebtMember_zqr7X5O0csm7" title="Debt instrument, maturity date, description">The loan was extended to July 31, 2023</span>. On December 16, 2020, Justice and InterGroup entered into a loan modification agreement which increased Justice’s borrowing from InterGroup as needed up to $<span id="xdx_904_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20201216__dei--LegalEntityAxis__custom--JusticeInvestorsLimitedPartnershipAndIntergroupMember__us-gaap--TypeOfArrangementAxis__custom--LoanModificationAgreementMember_zUoOhYXsG03f" title="Debt instrument, face amount">10,000,000</span>. Upon the dissolution of Justice in December 2021, Portsmouth assumed Justice’s note payable to InterGroup in the amount of $<span id="xdx_905_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20220630__dei--LegalEntityAxis__custom--JusticeInvestorsLimitedPartnershipAndIntergroupMember__us-gaap--TypeOfArrangementAxis__custom--LoanModificationAgreementMember_zQXqFfRV2Vt6" title="Debt instrument, face amount">11,350,000</span>. On December 31, 2021, Portsmouth and InterGroup entered into a loan modification agreement which increased Portsmouth’s borrowing from InterGroup as needed up to $<span id="xdx_90C_ecustom--WorkingCapital_iI_pp0p0_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--InterGroupCorpMember__us-gaap--TypeOfArrangementAxis__custom--LoanModificationAgreementMember_zF7bMNoObsh7" title="Working capital">16,000,000</span>. As of June 30, 2022 and 2021, the balance of the loan was $<span id="xdx_90D_eus-gaap--NotesPayable_iI_pp0p0_c20220630__dei--LegalEntityAxis__custom--JusticeInvestorsLimitedPartnershipAndIntergroupMember__us-gaap--TypeOfArrangementAxis__custom--LoanModificationAgreementMember_zI6hJ5uMbURk" title="Current loan balance">14,200,000</span> and $<span id="xdx_907_eus-gaap--NotesPayable_iI_pp0p0_c20210630__dei--LegalEntityAxis__custom--JusticeInvestorsLimitedPartnershipAndIntergroupMember__us-gaap--TypeOfArrangementAxis__custom--LoanModificationAgreementMember_zMz2j14qqtOi" title="Current loan balance">6,650,000</span>, net of loan amortization costs of <span id="xdx_901_eus-gaap--AmortizationOfFinancingCosts_pp0p0_dc_c20210701__20220630__dei--LegalEntityAxis__custom--JusticeInvestorsLimitedPartnershipAndIntergroupMember__us-gaap--TypeOfArrangementAxis__custom--LoanModificationAgreementMember_zTBR7Qrjwxzc" title="Amortization of financing costs"><span id="xdx_90D_eus-gaap--AmortizationOfFinancingCosts_pp0p0_dc_c20200701__20210630__dei--LegalEntityAxis__custom--JusticeInvestorsLimitedPartnershipAndIntergroupMember__us-gaap--TypeOfArrangementAxis__custom--LoanModificationAgreementMember_zFlCZDwioR23" title="Amortization of financing costs">zero</span></span>, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 131.9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Note payable to Hilton (Franchisor) is a self-exhausting, interest free development incentive note which is reduced by approximately $<span id="xdx_90D_eus-gaap--NotesReduction_pp0p0_c20210701__20220630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--NotePayableHiltonMember_zBloTIXUN1Y1" title="Notes reduction">317,000</span> annually <span id="xdx_90A_eus-gaap--DebtInstrumentPaymentTerms_c20210701__20220630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--NotePayableHiltonMember_zDsdaSUXxANb" title="Debt instrument, payment terms">through 2030</span> by Hilton if the Partnership is still a Franchisee with Hilton.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On February 1, 2017, Operating entered an HMA with Ambridge to manage the Hotel with an effective takeover date of February 3, 2017. The term of the management agreement is for an initial period of <span id="xdx_908_eus-gaap--DebtInstrumentTerm_dtY_c20170201__20170201_zK9vE6y31pc2" title="Debt instrument terms">10</span> 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 Ambridge to advance a key money incentive fee to the Hotel for capital improvements in the amount of $<span id="xdx_908_ecustom--KeyMoneyIncentiveAdvanceToRelatedParty_pp0p0_c20170201__20170201_zUIhw1zyFtg1" title="Key money incentive advance to related party">2,000,000</span> 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 (<span id="xdx_901_eus-gaap--DebtInstrumentConvertibleRemainingDiscountAmortizationPeriod1_dtY_c20170201__20170201_z7sQb6YLAFgd" title="Debt Instrument amortization period">8</span>) year period commencing on the second anniversary of the takeover date. During the first quarter of fiscal year 2021, the Hotel obtained approval from Ambridge to use the key money for hotel operations and the funds were exhausted by December 31, 2020. Unamortized portion of the key money is included in the related party notes payable in the consolidated balance sheets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On April 9, 2020, Justice entered into a loan agreement (“SBA Loan”) with CIBC Bank USA under the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) administered by the U.S. Small Business Administration (the “SBA”). Justice received proceeds of $<span id="xdx_90B_eus-gaap--ProceedsFromLoans_c20200408__20200409__us-gaap--TypeOfArrangementAxis__custom--CaresActMember__dei--LegalEntityAxis__custom--CIBCBankUSAMember_z4ZzDIXE1JJ2" title="Proceeds from loans">4,719,000</span> from the SBA Loan. In accordance with the requirements of the CARES Act, Justice used the proceeds from the SBA Loan for payroll costs and other qualified expenses. The SBA Loan was scheduled to mature on <span id="xdx_90B_eus-gaap--DebtInstrumentMaturityDate_dd_c20200408__20200409__us-gaap--TypeOfArrangementAxis__custom--CaresActMember__dei--LegalEntityAxis__custom--CIBCBankUSAMember_zzaYHRtuMaW4" title="Debt instrument, maturity date">April 9, 2022</span> with a <span id="xdx_90C_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_c20200409__us-gaap--TypeOfArrangementAxis__custom--CaresActMember__dei--LegalEntityAxis__custom--CIBCBankUSAMember_z6FaKBziARz4" title="Debt instrument, interest rate, stated percentage">1.00</span>% interest rate and was subject to the terms and conditions applicable to loans administered by the U.S. Small Business Administration under the CARES Act. On June 10, 2021, the SBA Loan was forgiven in full and $<span id="xdx_906_eus-gaap--GainsLossesOnExtinguishmentOfDebt_pp0p0_c20200701__20210630_zpyLS6UzYWCh" title="Gain on debt extinguishment">4,719,000</span> was recorded as gain on debt extinguishment on the consolidated statement of operations for the fiscal year ending June 30, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On February 3, 2021, Justice entered into a second loan agreement (“Second SBA Loan”) with CIBC Bank USA administered by the SBA. Justice received proceeds of $<span id="xdx_905_eus-gaap--ProceedsFromLoans_pp0p0_c20210202__20210203__us-gaap--TypeOfArrangementAxis__custom--SecondSBALoanMember__dei--LegalEntityAxis__custom--CIBCBankUSAMember_zbYSb90KCd53" title="Proceeds from Loans">2,000,000</span> from the Second SBA Loan. As of June 30, 2021, Justice used all proceeds from the Second SBA Loan primarily for payroll costs. The Second SBA Loan was scheduled to mature on <span id="xdx_90C_eus-gaap--DebtInstrumentMaturityDate_dd_c20210202__20210203__us-gaap--TypeOfArrangementAxis__custom--SecondSBALoanMember__dei--LegalEntityAxis__custom--CIBCBankUSAMember_zpdttQ8pOOI3" title="Debt instrument, maturity date">February 3, 2026</span>, had a <span id="xdx_90D_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_c20210203__us-gaap--TypeOfArrangementAxis__custom--SecondSBALoanMember__dei--LegalEntityAxis__custom--CIBCBankUSAMember_zeKGiXMIWmyh" title="Debt instrument, interest rate, stated percentage">1.00</span>% interest rate, and was subject to the terms and conditions applicable to loans administered by the U.S. Small Business Administration under the CARES Act. On November 19, 2021, the Second SBA Loan was forgiven in full and $<span id="xdx_90E_eus-gaap--GainsLossesOnExtinguishmentOfDebt_pp0p0_c20210701__20220630_zmdNWPItZ0Al" title="Gain on debt extinguishment">2,000,000</span> was recorded as gain on debt extinguishment on the consolidated statement of operations for the fiscal year ended June 30, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89F_esrt--ContractualObligationFiscalYearMaturityScheduleTableTextBlock_z91I51xcpP86" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Future minimum principal payments for all related party and other financing transactions are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span id="xdx_8B4_zbxqXWlvTSoh" style="display: none">SCHEDULE OF FUTURE MINIMUM PRINCIPAL PAYMENTS</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 60%"> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">For the year ending June 30,</td><td> </td> <td colspan="2" id="xdx_494_20220630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyAndOtherFinancingTransactionMember_zeHu5qhvY9Yg"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40F_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_pp0p0_maLTDz9Zo_zRaWfkCFN1R7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: center; padding-left: 5.4pt">2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">567,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_iI_pp0p0_maLTDz9Zo_zOCd8WdiFMS9" style="vertical-align: bottom; background-color: White"> <td style="text-align: center; padding-left: 5.4pt">2024</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14,767,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_iI_pp0p0_maLTDz9Zo_z0TJNXn50eH9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center; padding-left: 5.4pt">2025</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">567,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_iI_pp0p0_maLTDz9Zo_zvr8t3NLwjia" style="vertical-align: bottom; background-color: White"> <td style="text-align: center; padding-left: 5.4pt">2026</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">567,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_iI_pp0p0_maLTDz9Zo_ztRtf1L4opYj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center; padding-left: 5.4pt">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">462,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_iI_pp0p0_maLTDz9Zo_zQ9Om346veg1" style="vertical-align: bottom; background-color: White"> <td style="text-align: center; padding-bottom: 1.5pt; padding-left: 5.4pt">Thereafter</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">791,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LongTermDebt_iTI_pp0p0_mtLTDz9Zo_z0f9FflBFsDh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; padding-left: 5.4pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Long term debt</span></td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">17,721,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AC_zbSGPQUpbyqa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of June 30, 2022 and 2021, the Company had accounts payable to related party of $<span id="xdx_907_eus-gaap--AccountsPayableRelatedPartiesCurrentAndNoncurrent_iI_pp0p0_c20220630_zu7MA8IeLNe3" title="Accounts payable to related party">4,908,000</span> and $<span id="xdx_903_eus-gaap--AccountsPayableRelatedPartiesCurrentAndNoncurrent_iI_pp0p0_c20210630_zK2XyJMrOMfd" title="Accounts payable to related party">3,193,000</span>, respectively. These are amounts due to InterGroup and represent accrued interests and certain shared costs and expenses, primarily general and administrative expenses, rent, insurance, and other expenses.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">To fund the redemption of limited partnership interests and to repay the prior mortgage of $<span id="xdx_905_eus-gaap--AccountsPayableRelatedPartiesCurrentAndNoncurrent_iI_pp0p0_c20131231__us-gaap--DebtInstrumentAxis__custom--PriorMortgageMember_z8HiCHAGfjng" title="Accounts payable to related party">42,940,000</span>, Justice obtained a $<span id="xdx_90A_eus-gaap--AccountsPayableRelatedPartiesCurrentAndNoncurrent_iI_pp0p0_c20131231__us-gaap--DebtInstrumentAxis__custom--MortgageLoanMember_zWaAOxxJmtIc" title="Accounts payable to related party">97,000,000</span> mortgage loan and a $<span id="xdx_90A_eus-gaap--AccountsPayableRelatedPartiesCurrentAndNoncurrent_iI_pp0p0_c20131231__us-gaap--DebtInstrumentAxis__custom--MezzanineLoanMember_zuamTq4HfZL9" title="Accounts payable to related party">20,000,000</span> mezzanine loan in December 2013. The mortgage loan is secured by the Company’s principal asset, the Hotel. The mortgage loan bears an interest rate of <span id="xdx_903_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_c20170131_zJ91uwsOcoZc" title="Debt instrument, interest rate, stated percentage">5.275</span>% per annum with interest only payments due through January 2017. <span id="xdx_903_eus-gaap--DebtInstrumentMaturityDateDescription_c20170202__20170228_zF9DKYuaKKIl" title="Debt instrument, maturity date, description">Beginning in February 2017, the loan began to amortize over a thirty-year period through its maturity date of January 2024</span>. Outstanding principal balance on the loan was $<span id="xdx_90F_eus-gaap--PrincipalAmountOutstandingOnLoansSecuritized_iI_pp0p0_c20220630_zW9Xmx9uHSZ1" title="Outstanding loan principal amount">89,114,000</span> and $<span id="xdx_90E_eus-gaap--PrincipalAmountOutstandingOnLoansSecuritized_iI_pp0p0_c20210630_zZxpCkOuHU1j" title="Outstanding loan principal amount">90,745,000</span> as of June 30, 2022 and 2021, 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. <span id="xdx_90C_eus-gaap--DebtInstrumentMaturityDateDescription_c20210701__20220630_zKIuhc8qWIZd" title="Debt instrument, 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</span>. As additional security for the mezzanine loan, there is a limited guaranty executed by Portsmouth in favor of the mezzanine lender. On July 31, 2019, Mezzanine refinanced the mezzanine loan by entering into a new mezzanine loan agreement (“New Mezzanine Loan Agreement”) with Cred Reit Holdco LLC in the amount of $<span id="xdx_907_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20190731__us-gaap--DebtInstrumentAxis__custom--NewMezzanineLoanMember__dei--LegalEntityAxis__custom--CredReitHoldcoLLCMember_zj3ZJw66Ditg" title="Debt instrument, face amount">20,000,000</span>. The prior Mezzanine Loan which had a <span id="xdx_909_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_c20190731__us-gaap--DebtInstrumentAxis__custom--NewMezzanineLoanMember__dei--LegalEntityAxis__custom--CredReitHoldcoLLCMember_zvkCXIrs1Rda">9.75</span>% per annum interest rate was paid off. Interest rate on the new mezzanine loan is <span id="xdx_900_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_c20190731__us-gaap--DebtInstrumentAxis__custom--NewMezzanineLoanMember_zmDq62xhEdK4" title="Debt instrument, interest rate, stated percentage">7.25</span>% and the loan matures on <span id="xdx_901_eus-gaap--DebtInstrumentMaturityDate_pid_dp_c20190730__20190731__us-gaap--DebtInstrumentAxis__custom--NewMezzanineLoanMember_z8oVFBxLrFoi" title="Debt instrument maturity date">January 1, 2024</span>. Interest only payments are due monthly.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 $<span id="xdx_901_eus-gaap--AccountsPayableRelatedPartiesCurrentAndNoncurrent_iI_pp0p0_c20170511__us-gaap--DebtInstrumentAxis__custom--MortgageLoanMember_zQiwkiCW2YTa" title="Accounts payable to related party">97,000,000</span> mortgage loan and the $<span id="xdx_909_eus-gaap--AccountsPayableRelatedPartiesCurrentAndNoncurrent_iI_pp0p0_c20170511__us-gaap--DebtInstrumentAxis__custom--MezzanineLoanMember_zag3oKi6hIf5" title="Accounts payable to related party">20,000,000</span> mezzanine loan. Pursuant to the agreement, InterGroup is required to maintain certain net worth and liquidity. As of June 30, 2022, InterGroup is in compliance with both requirements. Justice Operating Company, LLC has not been meeting certain of its loan covenants such as the Debt Service Coverage Ratio (“DSCR”) which would trigger the creation of a lockbox by the Lender for all cash collected by the Hotel. However, such lockbox has been created and utilized from the loan inception and will be in place up to loan maturity regardless of the DSCR.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s Board of Directors is currently comprised of directors John V. Winfield, William J. Nance, John C. Love, Jerold R. Babin, and Steve Grunwald. All the Company’s directors also serve as directors of InterGroup except for Mr. Grunwald. 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.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"/> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">John V. Winfield serves as Chief Executive Officer and Chairman of the Company and InterGroup. Effective June 2016, Mr. Winfield became the Managing Director of Justice till its dissolution in December 2021. Depending on certain market conditions and various risk factors, the Chief Executive Officer and InterGroup may, at times, invest in the same companies in which the Company invests. The Company encourages such investments because it places personal resources of the Chief Executive Officer and the resources of InterGroup, at risk in connection with investment decisions made on behalf of the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On May 24, 2021, John V. Winfield resigned effective immediately as the Company’s President and the Company’s Board of Directors elected David C. Gonzalez as the Company’s new President, effective as of May 24, 2021. Mr. Gonzalez serves as Vice President Real Estate of InterGroup and is an advisor of the Executive Strategic Real Estate and Securities Investment Committee of InterGroup and Portsmouth.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p>
</PRSI:RelatedPartyAndOtherFinancingTransactionsTextBlock>
<PRSI:ScheduleOfRelatedPartyAndOtherNotesPayableTableTextBlock contextRef="From2021-07-01to2022-06-30">
<p id="xdx_892_ecustom--ScheduleOfRelatedPartyAndOtherNotesPayableTableTextBlock_zxbVDKflVcAa" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following summarizes the balances of related party and other notes payable as of June 30, 2022 and 2021, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BF_zuH9K9oLR779" style="display: none">SCHEDULE OF RELATED PARTY AND OTHER NOTES PAYABLE</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">As of June 30,</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49F_20220630_zjUHER2Lgxqd" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_498_20210630_zMg2afV1G1S6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_40B_eus-gaap--DueToOtherRelatedPartiesCurrentAndNoncurrent_iI_pp0p0_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--NotePayableInterGroupMember_zWznSER6YGVl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Note payable - InterGroup</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">14,200,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">6,650,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--DueToOtherRelatedPartiesCurrentAndNoncurrent_iI_pp0p0_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--NotePayableHiltonMember_zIinNknN4w0e" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Note payable - Hilton</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,375,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,692,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--DueToOtherRelatedPartiesCurrentAndNoncurrent_iI_pp0p0_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--NotePayableAimbridgeMember_ziyepuVzHV02" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Note payable - Aimbridge</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,146,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,396,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DueToOtherRelatedPartiesCurrentAndNoncurrent_iI_pp0p0_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SBALoanJusticeMember_zLWqs0k9BGS7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">SBA Loan - Justice</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0848">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,000,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--DueToOtherRelatedPartiesCurrentAndNoncurrent_iI_pp0p0_zcLljXgCFQbh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total related party and other notes payable</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">17,721,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">12,738,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>
</PRSI:ScheduleOfRelatedPartyAndOtherNotesPayableTableTextBlock>
<us-gaap:DueToOtherRelatedPartiesCurrentAndNoncurrent contextRef="AsOf2022-06-30_custom_NotePayableInterGroupMember" decimals="0" unitRef="USD"> 14200000 </us-gaap:DueToOtherRelatedPartiesCurrentAndNoncurrent>
<us-gaap:DueToOtherRelatedPartiesCurrentAndNoncurrent contextRef="AsOf2021-06-30_custom_NotePayableInterGroupMember" decimals="0" unitRef="USD"> 6650000 </us-gaap:DueToOtherRelatedPartiesCurrentAndNoncurrent>
<us-gaap:DueToOtherRelatedPartiesCurrentAndNoncurrent contextRef="AsOf2022-06-30_custom_NotePayableHiltonMember" decimals="0" unitRef="USD"> 2375000 </us-gaap:DueToOtherRelatedPartiesCurrentAndNoncurrent>
<us-gaap:DueToOtherRelatedPartiesCurrentAndNoncurrent contextRef="AsOf2021-06-30_custom_NotePayableHiltonMember" decimals="0" unitRef="USD"> 2692000 </us-gaap:DueToOtherRelatedPartiesCurrentAndNoncurrent>
<us-gaap:DueToOtherRelatedPartiesCurrentAndNoncurrent contextRef="AsOf2022-06-30_custom_NotePayableAimbridgeMember" decimals="0" unitRef="USD"> 1146000 </us-gaap:DueToOtherRelatedPartiesCurrentAndNoncurrent>
<us-gaap:DueToOtherRelatedPartiesCurrentAndNoncurrent contextRef="AsOf2021-06-30_custom_NotePayableAimbridgeMember" decimals="0" unitRef="USD"> 1396000 </us-gaap:DueToOtherRelatedPartiesCurrentAndNoncurrent>
<us-gaap:DueToOtherRelatedPartiesCurrentAndNoncurrent contextRef="AsOf2021-06-30_custom_SBALoanJusticeMember" decimals="0" unitRef="USD"> 2000000 </us-gaap:DueToOtherRelatedPartiesCurrentAndNoncurrent>
<us-gaap:DueToOtherRelatedPartiesCurrentAndNoncurrent contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 17721000 </us-gaap:DueToOtherRelatedPartiesCurrentAndNoncurrent>
<us-gaap:DueToOtherRelatedPartiesCurrentAndNoncurrent contextRef="AsOf2021-06-30" decimals="0" unitRef="USD"> 12738000 </us-gaap:DueToOtherRelatedPartiesCurrentAndNoncurrent>
<us-gaap:DebtInstrumentFaceAmount contextRef="AsOf2014-07-02_us-gaap_UnsecuredDebtMember" decimals="0" unitRef="USD"> 4250000 </us-gaap:DebtInstrumentFaceAmount>
<us-gaap:DebtInstrumentInterestRateStatedPercentage contextRef="AsOf2014-07-02_us-gaap_UnsecuredDebtMember" decimals="INF" unitRef="Pure"> 0.12 </us-gaap:DebtInstrumentInterestRateStatedPercentage>
<us-gaap:DebtInstrumentTerm contextRef="From2014-06-292014-07-02_us-gaap_UnsecuredDebtMember"> P2Y </us-gaap:DebtInstrumentTerm>
<PRSI:PercentageOfLoanFeeReceived contextRef="From2014-06-292014-07-02_us-gaap_UnsecuredDebtMember" decimals="INF" unitRef="Pure"> 0.03 </PRSI:PercentageOfLoanFeeReceived>
<us-gaap:DebtInstrumentMaturityDateDescription contextRef="From2014-06-292014-07-02_us-gaap_UnsecuredDebtMember"> The loan was extended to July 31, 2023 </us-gaap:DebtInstrumentMaturityDateDescription>
<us-gaap:DebtInstrumentFaceAmount contextRef="AsOf2020-12-16_custom_JusticeInvestorsLimitedPartnershipAndIntergroupMember_custom_LoanModificationAgreementMember" decimals="0" unitRef="USD"> 10000000 </us-gaap:DebtInstrumentFaceAmount>
<us-gaap:DebtInstrumentFaceAmount contextRef="AsOf2022-06-30_custom_JusticeInvestorsLimitedPartnershipAndIntergroupMember_custom_LoanModificationAgreementMember" decimals="0" unitRef="USD"> 11350000 </us-gaap:DebtInstrumentFaceAmount>
<PRSI:WorkingCapital contextRef="AsOf2021-12-31_custom_InterGroupCorpMember_custom_LoanModificationAgreementMember" decimals="0" unitRef="USD"> 16000000 </PRSI:WorkingCapital>
<us-gaap:NotesPayable contextRef="AsOf2022-06-30_custom_JusticeInvestorsLimitedPartnershipAndIntergroupMember_custom_LoanModificationAgreementMember" decimals="0" unitRef="USD"> 14200000 </us-gaap:NotesPayable>
<us-gaap:NotesPayable contextRef="AsOf2021-06-30_custom_JusticeInvestorsLimitedPartnershipAndIntergroupMember_custom_LoanModificationAgreementMember" decimals="0" unitRef="USD"> 6650000 </us-gaap:NotesPayable>
<us-gaap:AmortizationOfFinancingCosts contextRef="From2021-07-012022-06-30_custom_JusticeInvestorsLimitedPartnershipAndIntergroupMember_custom_LoanModificationAgreementMember" decimals="0" unitRef="USD"> 0 </us-gaap:AmortizationOfFinancingCosts>
<us-gaap:AmortizationOfFinancingCosts contextRef="From2020-07-012021-06-30_custom_JusticeInvestorsLimitedPartnershipAndIntergroupMember_custom_LoanModificationAgreementMember" decimals="0" unitRef="USD"> 0 </us-gaap:AmortizationOfFinancingCosts>
<us-gaap:NotesReduction contextRef="From2021-07-012022-06-30_custom_NotePayableHiltonMember" decimals="0" unitRef="USD"> 317000 </us-gaap:NotesReduction>
<us-gaap:DebtInstrumentPaymentTerms contextRef="From2021-07-012022-06-30_custom_NotePayableHiltonMember"> through 2030 </us-gaap:DebtInstrumentPaymentTerms>
<us-gaap:DebtInstrumentTerm contextRef="From2017-02-012017-02-01"> P10Y </us-gaap:DebtInstrumentTerm>
<PRSI:KeyMoneyIncentiveAdvanceToRelatedParty contextRef="From2017-02-012017-02-01" decimals="0" unitRef="USD"> 2000000 </PRSI:KeyMoneyIncentiveAdvanceToRelatedParty>
<us-gaap:DebtInstrumentConvertibleRemainingDiscountAmortizationPeriod1 contextRef="From2017-02-012017-02-01"> P8Y </us-gaap:DebtInstrumentConvertibleRemainingDiscountAmortizationPeriod1>
<us-gaap:ProceedsFromLoans contextRef="From2020-04-082020-04-09_custom_CaresActMember_custom_CIBCBankUSAMember149627406" decimals="0" unitRef="USD"> 4719000 </us-gaap:ProceedsFromLoans>
<us-gaap:DebtInstrumentMaturityDate contextRef="From2020-04-082020-04-09_custom_CaresActMember_custom_CIBCBankUSAMember149627406"> 2022-04-09 </us-gaap:DebtInstrumentMaturityDate>
<us-gaap:DebtInstrumentInterestRateStatedPercentage contextRef="AsOf2020-04-09_custom_CaresActMember_custom_CIBCBankUSAMember149627421" decimals="INF" unitRef="Pure"> 0.0100 </us-gaap:DebtInstrumentInterestRateStatedPercentage>
<us-gaap:GainsLossesOnExtinguishmentOfDebt contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> 4719000 </us-gaap:GainsLossesOnExtinguishmentOfDebt>
<us-gaap:ProceedsFromLoans contextRef="From2021-02-022021-02-03_custom_SecondSBALoanMember_custom_CIBCBankUSAMember149627437" decimals="0" unitRef="USD"> 2000000 </us-gaap:ProceedsFromLoans>
<us-gaap:DebtInstrumentMaturityDate contextRef="From2021-02-022021-02-03_custom_SecondSBALoanMember_custom_CIBCBankUSAMember149627437"> 2026-02-03 </us-gaap:DebtInstrumentMaturityDate>
<us-gaap:DebtInstrumentInterestRateStatedPercentage contextRef="AsOf2021-02-03_custom_SecondSBALoanMember_custom_CIBCBankUSAMember149627453" decimals="INF" unitRef="Pure"> 0.0100 </us-gaap:DebtInstrumentInterestRateStatedPercentage>
<us-gaap:GainsLossesOnExtinguishmentOfDebt contextRef="From2021-07-01to2022-06-30" decimals="0" unitRef="USD"> 2000000 </us-gaap:GainsLossesOnExtinguishmentOfDebt>
<srt:ContractualObligationFiscalYearMaturityScheduleTableTextBlock contextRef="From2021-07-01to2022-06-30">
<p id="xdx_89F_esrt--ContractualObligationFiscalYearMaturityScheduleTableTextBlock_z91I51xcpP86" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Future minimum principal payments for all related party and other financing transactions are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span id="xdx_8B4_zbxqXWlvTSoh" style="display: none">SCHEDULE OF FUTURE MINIMUM PRINCIPAL PAYMENTS</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 60%"> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">For the year ending June 30,</td><td> </td> <td colspan="2" id="xdx_494_20220630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyAndOtherFinancingTransactionMember_zeHu5qhvY9Yg"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40F_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_pp0p0_maLTDz9Zo_zRaWfkCFN1R7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: center; padding-left: 5.4pt">2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">567,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_iI_pp0p0_maLTDz9Zo_zOCd8WdiFMS9" style="vertical-align: bottom; background-color: White"> <td style="text-align: center; padding-left: 5.4pt">2024</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14,767,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_iI_pp0p0_maLTDz9Zo_z0TJNXn50eH9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center; padding-left: 5.4pt">2025</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">567,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_iI_pp0p0_maLTDz9Zo_zvr8t3NLwjia" style="vertical-align: bottom; background-color: White"> <td style="text-align: center; padding-left: 5.4pt">2026</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">567,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_iI_pp0p0_maLTDz9Zo_ztRtf1L4opYj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center; padding-left: 5.4pt">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">462,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_iI_pp0p0_maLTDz9Zo_zQ9Om346veg1" style="vertical-align: bottom; background-color: White"> <td style="text-align: center; padding-bottom: 1.5pt; padding-left: 5.4pt">Thereafter</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">791,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LongTermDebt_iTI_pp0p0_mtLTDz9Zo_z0f9FflBFsDh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; padding-left: 5.4pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Long term debt</span></td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">17,721,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>
</srt:ContractualObligationFiscalYearMaturityScheduleTableTextBlock>
<us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths contextRef="AsOf2022-06-30_custom_RelatedPartyAndOtherFinancingTransactionMember" decimals="0" unitRef="USD"> 567000 </us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths>
<us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo contextRef="AsOf2022-06-30_custom_RelatedPartyAndOtherFinancingTransactionMember" decimals="0" unitRef="USD"> 14767000 </us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo>
<us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree contextRef="AsOf2022-06-30_custom_RelatedPartyAndOtherFinancingTransactionMember" decimals="0" unitRef="USD"> 567000 </us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree>
<us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour contextRef="AsOf2022-06-30_custom_RelatedPartyAndOtherFinancingTransactionMember" decimals="0" unitRef="USD"> 567000 </us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour>
<us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive contextRef="AsOf2022-06-30_custom_RelatedPartyAndOtherFinancingTransactionMember" decimals="0" unitRef="USD"> 462000 </us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive>
<us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive contextRef="AsOf2022-06-30_custom_RelatedPartyAndOtherFinancingTransactionMember" decimals="0" unitRef="USD"> 791000 </us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive>
<us-gaap:LongTermDebt contextRef="AsOf2022-06-30_custom_RelatedPartyAndOtherFinancingTransactionMember" decimals="0" unitRef="USD"> 17721000 </us-gaap:LongTermDebt>
<us-gaap:AccountsPayableRelatedPartiesCurrentAndNoncurrent contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 4908000 </us-gaap:AccountsPayableRelatedPartiesCurrentAndNoncurrent>
<us-gaap:AccountsPayableRelatedPartiesCurrentAndNoncurrent contextRef="AsOf2021-06-30" decimals="0" unitRef="USD"> 3193000 </us-gaap:AccountsPayableRelatedPartiesCurrentAndNoncurrent>
<us-gaap:AccountsPayableRelatedPartiesCurrentAndNoncurrent contextRef="AsOf2013-12-31_custom_PriorMortgageMember" decimals="0" unitRef="USD"> 42940000 </us-gaap:AccountsPayableRelatedPartiesCurrentAndNoncurrent>
<us-gaap:AccountsPayableRelatedPartiesCurrentAndNoncurrent contextRef="AsOf2013-12-31_custom_MortgageLoanMember" decimals="0" unitRef="USD"> 97000000 </us-gaap:AccountsPayableRelatedPartiesCurrentAndNoncurrent>
<us-gaap:AccountsPayableRelatedPartiesCurrentAndNoncurrent contextRef="AsOf2013-12-31_custom_MezzanineLoanMember" decimals="0" unitRef="USD"> 20000000 </us-gaap:AccountsPayableRelatedPartiesCurrentAndNoncurrent>
<us-gaap:DebtInstrumentInterestRateStatedPercentage contextRef="AsOf2017-01-31" decimals="INF" unitRef="Pure"> 0.05275 </us-gaap:DebtInstrumentInterestRateStatedPercentage>
<us-gaap:DebtInstrumentMaturityDateDescription contextRef="From2017-02-022017-02-28"> Beginning in February 2017, the loan began to amortize over a thirty-year period through its maturity date of January 2024 </us-gaap:DebtInstrumentMaturityDateDescription>
<us-gaap:PrincipalAmountOutstandingOnLoansSecuritized contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 89114000 </us-gaap:PrincipalAmountOutstandingOnLoansSecuritized>
<us-gaap:PrincipalAmountOutstandingOnLoansSecuritized contextRef="AsOf2021-06-30" decimals="0" unitRef="USD"> 90745000 </us-gaap:PrincipalAmountOutstandingOnLoansSecuritized>
<us-gaap:DebtInstrumentMaturityDateDescription contextRef="From2021-07-01to2022-06-30"> The mezzanine interest only loan had an interest rate of 9.75% per annum and a maturity date of January 1, 2024 </us-gaap:DebtInstrumentMaturityDateDescription>
<us-gaap:DebtInstrumentFaceAmount contextRef="AsOf2019-07-31_custom_NewMezzanineLoanMember_custom_CredReitHoldcoLLCMember" decimals="0" unitRef="USD"> 20000000 </us-gaap:DebtInstrumentFaceAmount>
<us-gaap:DebtInstrumentInterestRateStatedPercentage contextRef="AsOf2019-07-31_custom_NewMezzanineLoanMember_custom_CredReitHoldcoLLCMember" decimals="INF" unitRef="Pure"> 0.0975 </us-gaap:DebtInstrumentInterestRateStatedPercentage>
<us-gaap:DebtInstrumentInterestRateStatedPercentage contextRef="AsOf2019-07-31_custom_NewMezzanineLoanMember" decimals="INF" unitRef="Pure"> 0.0725 </us-gaap:DebtInstrumentInterestRateStatedPercentage>
<us-gaap:DebtInstrumentMaturityDate contextRef="From2019-07-302019-07-31_custom_NewMezzanineLoanMember"> 2024-01-01 </us-gaap:DebtInstrumentMaturityDate>
<us-gaap:AccountsPayableRelatedPartiesCurrentAndNoncurrent contextRef="AsOf2017-05-11_custom_MortgageLoanMember" decimals="0" unitRef="USD"> 97000000 </us-gaap:AccountsPayableRelatedPartiesCurrentAndNoncurrent>
<us-gaap:AccountsPayableRelatedPartiesCurrentAndNoncurrent contextRef="AsOf2017-05-11_custom_MezzanineLoanMember" decimals="0" unitRef="USD"> 20000000 </us-gaap:AccountsPayableRelatedPartiesCurrentAndNoncurrent>
<us-gaap:MortgageNotesPayableDisclosureTextBlock contextRef="From2021-07-01to2022-06-30">
<p id="xdx_80F_eus-gaap--MortgageNotesPayableDisclosureTextBlock_zKnm3QAqspk6" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 10 – <span id="xdx_82A_zxFfoEnnsQai">MORTGAGE NOTES PAYABLE</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 18, 2013: (i) Justice Operating Company, LLC, a Delaware limited liability company (“Operating”), entered into a loan agreement (“Mortgage Loan Agreement”) with Bank of America (“Mortgage Lender”); and (ii) Justice Mezzanine Company, a Delaware limited liability company (“Mezzanine”), entered into a mezzanine loan agreement (“Mezzanine Loan Agreement” and, together with the Mortgage Loan Agreement, the “Loan Agreements”) with ISBI San Francisco Mezz Lender LLC (“Mezzanine Lender” and, together with Mortgage Lender, the “Lenders”). The Partnership was the sole member of Mezzanine until its dissolution in December 2021 when Portsmouth replaced the Partnership as the sole member of Mezzanine. Mezzanine is the sole member of Operating.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Loan Agreements provide for a $<span id="xdx_90A_esrt--MortgageLoansOnRealEstateFaceAmountOfMortgages_iI_c20220630__srt--MortgageLoansOnRealEstateLoanTypeAxis__custom--MortgageLoansMember_zAP2rs2WFaS7" title="Investment in mortgage loans">97,000,000</span> Mortgage Loan and a $<span id="xdx_902_esrt--MortgageLoansOnRealEstateFaceAmountOfMortgages_iI_c20220630__srt--MortgageLoansOnRealEstateLoanTypeAxis__custom--MezzanineLoanMember_zYE5CvMhEBWa" title="Investment in mortgage loans">20,000,000</span> Mezzanine Loan. The proceeds of the Loan Agreements were used to fund the redemption of limited partnership interests and the pay-off of the prior mortgage.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Mortgage Loan is secured by Operating’s principal asset, the Hilton San Francisco-Financial District (the “Property”). The Mortgage Loan bears an interest rate of <span id="xdx_901_esrt--MortgageLoansOnRealEstateInterestRate_dp_c20210701__20220630_zluvKOesElI8" title="Investment in mortgage loans on real estate, interest rate">5.275</span>% per annum and <span id="xdx_905_esrt--MortgageLoansOnRealEstatePeriodicPaymentTerms_dd_c20210701__20220630_z1gwUaLVRovb" title="Investment in mortgage loans on real estate, final maturity date, description">matures in January 2024</span>. The term of the loan is <span id="xdx_90B_ecustom--MortgageLoanOnRealEstateFinalMaturityPeriod_dc_c20210701__20220630_zg7Y15tMfOe5" title="Mortgage loan on real estate final maturity period">ten years</span> with interest only due in the first three years and principal and interest payments to be made during the remaining seven years of the loan based on a thirty-year amortization schedule. The Mortgage Loan also requires payments for impounds related to property tax, insurance and capital improvement reserves. As additional security for the Mortgage Loan, there is a limited guaranty (“Mortgage Guaranty”) executed by the Company in favor of Mortgage Lender.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Mezzanine Loan is secured by the Operating membership interest held by Mezzanine and is subordinated to the Mortgage Loan. The Mezzanine Loan had an interest rate of <span id="xdx_90D_esrt--MortgageLoansOnRealEstateInterestRate_dp_c20210701__20220630__srt--MortgageLoansOnRealEstateLoanTypeAxis__custom--MezzanineLoanMember_zHHp5TecUlOl" title="Investment in mortgage loans on real estate, interest rate">9.75</span>% per annum and a maturity date of <span id="xdx_909_esrt--MortgageLoanOnRealEstateFinalMaturityDate_dd_c20210701__20220630__srt--MortgageLoansOnRealEstateLoanTypeAxis__custom--MezzanineLoanMember_zvuzrVcepCoh" title="Investment in mortgage loans on real estate, final maturity date">January 1, 2024</span>. Interest only payments were due monthly. On July 31, 2019, Mezzanine refinanced the Mezzanine Loan by entering into a new mezzanine loan agreement (“New Mezzanine Loan Agreement”) with Cred Reit Holdco LLC in the amount of $<span id="xdx_904_esrt--MortgageLoansOnRealEstateFaceAmountOfMortgages_iI_c20190731__srt--MortgageLoansOnRealEstateLoanTypeAxis__custom--NewMezzanineLoanMember_zr2K512r86Rg" title="Investment in mortgage loans">20,000,000</span>. The prior Mezzanine Loan was paid off. Interest rate on the new mezzanine loan is <span id="xdx_90A_esrt--MortgageLoansOnRealEstateInterestRate_dp_c20190701__20190731__srt--MortgageLoansOnRealEstateLoanTypeAxis__custom--NewMezzanineLoanMember_zP8wlvoNR6Q9" title="Investment in mortgage loans on real estate, interest rate">7.25</span>% and the loan matures on <span id="xdx_90A_esrt--MortgageLoanOnRealEstateFinalMaturityDate_dd_c20190701__20190731__srt--MortgageLoansOnRealEstateLoanTypeAxis__custom--NewMezzanineLoanMember_z4MmzjAqGqj4" title="Investment in mortgage loans on real estate, final maturity date">January 1, 2024</span>. Interest only payments are due monthly. As additional security for the new mezzanine loan, there is a limited guaranty executed by the Company in favor of Cred Reit Holdco LLC (the “Mezzanine Guaranty” and, together with the Mortgage Guaranty, the “Guaranties”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Guaranties are limited to what are commonly referred to as “bad boy” acts, including: (i) fraud or intentional misrepresentations; (ii) gross negligence or willful misconduct; (iii) misapplication or misappropriation of rents, security deposits, insurance or condemnation proceeds; and (iv) failure to pay taxes or insurance. The Guaranties are full recourse guaranties under identified circumstances, including failure to maintain “single purpose” status which is a factor in a consolidation of Operating or Mezzanine in a bankruptcy of another person, transfer or encumbrance of the Property in violation of the applicable loan documents, Operating or Mezzanine incurring debts that are not permitted, and the Property becoming subject to a bankruptcy proceeding. Pursuant to the Guaranties, the Partnership was required to maintain a certain minimum net worth and liquidity. Effective as of May 12, 2017, InterGroup agreed to become an additional guarantor under the limited guaranty and an additional indemnitor under the environmental indemnity for the $<span id="xdx_909_eus-gaap--GuaranteeObligationsCurrentCarryingValue_c20170512__srt--MortgageLoansOnRealEstateLoanTypeAxis__custom--MortgageLoansMember_pp0p0" title="Guarantor obligations, current carrying value">97,000,000</span> mortgage loan and the $<span id="xdx_90A_eus-gaap--GuaranteeObligationsCurrentCarryingValue_iI_c20170512__srt--MortgageLoansOnRealEstateLoanTypeAxis__custom--MezzanineLoanMember_z1hUZ4uzOO9a" title="Guarantor obligations, current carrying value">20,000,000</span> mezzanine loan. Pursuant to the agreement, InterGroup is required to maintain a certain net worth and liquidity. As of June 30, 2022 and 2021, InterGroup is in compliance with both requirements. Justice Operating Company, LLC is not meeting certain of its loan covenants such as the Debt Service Coverage Ratio (“DSCR”) which would trigger the creation of a lockbox and cash sweep by the Lender for all cash collected by the Hotel, and under certain terms, would allow the Lender to request Operating to replace its hotel management company. <span id="xdx_901_ecustom--DebtServiceCoverageRatioDescription_c20210701__20220630_zAdS3OrjdaU4" title="Debt service coverage ratio description">The DSCR for Operating had been below 1.00 from third quarter of fiscal year 2020 to third quarter of fiscal year 2022 while it is required to maintain a DSCR of at least 1.10 to 1.00 for two consecutive quarters.</span> However, such lockbox has been created and utilized from the loan inception and will be in place up to loan maturity regardless of the DSCR. Justice has not missed any of its debt service payments and does not anticipate missing any debt obligations for at least the next twelve months and beyond. Additionally, Operating’s DSCR for the fourth quarter of fiscal year 2022 has reached <span id="xdx_903_ecustom--DebtServiceCoverageRatio_c20220401__20220630__srt--MortgageLoansOnRealEstateLoanTypeAxis__custom--MortgageLoansMember_zsjlTowaVsk5" title="Debt service coverage ratio">1.69</span> for the Mortgage Loan and <span id="xdx_908_ecustom--DebtServiceCoverageRatio_c20220401__20220630__srt--MortgageLoansOnRealEstateLoanTypeAxis__custom--MezzanineLoanMember_zvmRYgtYfNU9" title="Debt service coverage ratio">1.34</span> for the Mezzanine Loan.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each of the Loan Agreements contains customary representations and warranties, events of default, reporting requirements, affirmative covenants and negative covenants, which impose restrictions on, among other things, organizational changes of the respective borrower, operations of the Property, agreements with affiliates and third parties. Each of the Loan Agreements also provides for mandatory prepayments under certain circumstances (including casualty or condemnation events) and voluntary prepayments, subject to satisfaction of prescribed conditions set forth in the Loan Agreements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_897_ecustom--ScheduleOfMortgagesTableTextBlock_zIgWAF0OTiVc" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of June 30, 2022 and 2021, the Company had the following mortgages:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BA_zGl9BNrT4v6g" style="display: none">SCHEDULE OF MORTGAGES</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">June 30, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">June 30, 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Interest Rate</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Origination Date</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Maturity Date</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_ecustom--MortgageNotesPayableHotel_iI_c20220630__us-gaap--LongtermDebtTypeAxis__custom--FixedMortgageNotesPayableHotelFivePointTwoEightPercentageMember_zZtWaDmiLbVb" style="width: 15%; text-align: right" title="Mortgage notes payable hotel">89,114,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 0%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_ecustom--MortgageNotesPayableHotel_iI_c20210630__us-gaap--LongtermDebtTypeAxis__custom--FixedMortgageNotesPayableHotelFivePointTwoEightPercentageMember_zqhn8CeTRH09" style="width: 15%; text-align: right" title="Mortgage notes payable hotel">90,745,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 30%">Fixed <span id="xdx_908_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_c20220630__us-gaap--LongtermDebtTypeAxis__custom--FixedMortgageNotesPayableHotelFivePointTwoEightPercentageMember_zcrXLvHFdXNb" title="Debt instrument, interest rate, stated percentage">5.28</span>%</td><td style="width: 2%"> </td> <td id="xdx_983_eus-gaap--DebtInstrumentMaturityDateRangeStart1_dd_c20210701__20220630__us-gaap--LongtermDebtTypeAxis__custom--FixedMortgageNotesPayableHotelFivePointTwoEightPercentageMember_z5Q5pgZca1v5" style="width: 15%" title="Debt instrument, maturity date range, start">December 18, 2013</td><td style="width: 2%"> </td> <td id="xdx_982_eus-gaap--DebtInstrumentMaturityDateRangeEnd1_dd_c20210701__20220630__us-gaap--LongtermDebtTypeAxis__custom--FixedMortgageNotesPayableHotelFivePointTwoEightPercentageMember_ztIjb1wli1Z6" style="width: 15%" title="Debt instrument, maturity date range, end">January 1, 2024</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_980_ecustom--MortgageNotesPayableHotel_iI_c20220630__us-gaap--LongtermDebtTypeAxis__custom--FixedMortgageNotesPayableHotelSevenPointTwoFivePercentageMember_zKKv0X5xxu66" style="border-bottom: Black 1.5pt solid; text-align: right" title="Mortgage notes payable hotel">20,000,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_989_ecustom--MortgageNotesPayableHotel_iI_c20210630__us-gaap--LongtermDebtTypeAxis__custom--FixedMortgageNotesPayableHotelSevenPointTwoFivePercentageMember_zX5KvXmIgo3k" style="border-bottom: Black 1.5pt solid; text-align: right" title="Mortgage notes payable hotel">20,000,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt">Fixed <span id="xdx_90B_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_c20220630__us-gaap--LongtermDebtTypeAxis__custom--FixedMortgageNotesPayableHotelSevenPointTwoFivePercentageMember_zr4z9SW4n4U1" title="Debt instrument, interest rate, stated percentage">7.25</span>%</td><td style="padding-bottom: 1.5pt"> </td> <td id="xdx_983_eus-gaap--DebtInstrumentMaturityDateRangeStart1_dd_c20210701__20220630__us-gaap--LongtermDebtTypeAxis__custom--FixedMortgageNotesPayableHotelSevenPointTwoFivePercentageMember_zyYygVdgy8yg" style="padding-bottom: 1.5pt" title="Debt instrument, maturity date range, start">July 31, 2019</td><td style="padding-bottom: 1.5pt"> </td> <td id="xdx_982_eus-gaap--DebtInstrumentMaturityDateRangeEnd1_dd_c20210701__20220630__us-gaap--LongtermDebtTypeAxis__custom--FixedMortgageNotesPayableHotelSevenPointTwoFivePercentageMember_zCiOpktLQVh4" style="padding-bottom: 1.5pt" title="Debt instrument, maturity date range, end">January 1, 2024</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td id="xdx_98A_ecustom--MortgageNotesPayableGross_iI_maJJJ_c20220630_zH4nB9UBLtrk" style="text-align: right" title="Mortgage notes payable - hotel">109,114,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_ecustom--MortgageNotesPayableGross_iI_maJJJ_c20210630_zXEwu4kMpmZe" style="text-align: right" title="Mortgage notes payable - hotel">110,745,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">Mortgage notes payable - hotel</td><td> </td> <td> </td><td> </td> <td style="text-align: right"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--DeferredFinanceCostsNet_iNI_di_msJJJ_c20220630_zpjD15jdSm6b" style="border-bottom: Black 1.5pt solid; text-align: right" title="Net debt issuance costs">(367,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--DeferredFinanceCostsNet_iNI_di_msJJJ_c20210630_zRdhTf6cxCQi" style="border-bottom: Black 1.5pt solid; text-align: right" title="Net debt issuance costs">(611,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: left; padding-bottom: 1.5pt">Net debt issuance costs</td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: right; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_ecustom--MortgageNotesPayable_iTI_mtJJJ_c20220630_zdsuZzlwHNQg" style="border-bottom: Black 2.5pt double; text-align: right" title="Total mortgage notes payable - hotel">108,747,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98C_ecustom--MortgageNotesPayable_iTI_mtJJJ_c20210630_zKqzL3EvwAWh" style="border-bottom: Black 2.5pt double; text-align: right" title="Total mortgage notes payable - hotel">110,134,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: left; padding-bottom: 2.5pt">Total mortgage notes payable - hotel</td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: right; padding-bottom: 2.5pt"> </td></tr> </table> <p id="xdx_8A2_zyt8ZNoJb3jj" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_892_eus-gaap--ScheduleOfParticipatingMortgageLoansTextBlock_z1sKxC52xbC" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Future minimum principal payments for mortgage notes payable are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8BC_zgRenafxNE94" style="display: none">SCHEDULE OF MORTGAGE NOTES PAYABLE FUTURE MINIMUM PRINCIPLE PAYMENTS</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="text-align: center">For the year ending June 30,</td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: center">2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_maLLL_c20220630_z8wb6IeL2f11" style="width: 16%; text-align: right" title="2023">1,721,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center; padding-bottom: 1.5pt">2024</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_iI_maLLL_c20220630_zRXZe9Zq5i8d" style="border-bottom: Black 1.5pt solid; text-align: right" title="2024">107,393,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center; padding-bottom: 2.5pt"/><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--LongTermDebt_iTI_mtLLL_c20220630_zWq17yvocnHh" style="border-bottom: Black 2.5pt double; text-align: right" title="Long-term debt">109,114,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A8_zb18VyXwp8J1" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
</us-gaap:MortgageNotesPayableDisclosureTextBlock>
<srt:MortgageLoansOnRealEstateFaceAmountOfMortgages contextRef="AsOf2022-06-30_custom_MortgageLoansMember" decimals="0" unitRef="USD"> 97000000 </srt:MortgageLoansOnRealEstateFaceAmountOfMortgages>
<srt:MortgageLoansOnRealEstateFaceAmountOfMortgages contextRef="AsOf2022-06-30_custom_MezzanineLoanMember" decimals="0" unitRef="USD"> 20000000 </srt:MortgageLoansOnRealEstateFaceAmountOfMortgages>
<srt:MortgageLoansOnRealEstateInterestRate contextRef="From2021-07-01to2022-06-30" decimals="INF" unitRef="Pure"> 0.05275 </srt:MortgageLoansOnRealEstateInterestRate>
<srt:MortgageLoansOnRealEstatePeriodicPaymentTerms contextRef="From2021-07-01to2022-06-30"> matures in January 2024 </srt:MortgageLoansOnRealEstatePeriodicPaymentTerms>
<PRSI:MortgageLoanOnRealEstateFinalMaturityPeriod contextRef="From2021-07-01to2022-06-30"> P10Y </PRSI:MortgageLoanOnRealEstateFinalMaturityPeriod>
<srt:MortgageLoansOnRealEstateInterestRate contextRef="From2021-07-012022-06-30_custom_MezzanineLoanMember" decimals="INF" unitRef="Pure"> 0.0975 </srt:MortgageLoansOnRealEstateInterestRate>
<srt:MortgageLoanOnRealEstateFinalMaturityDate contextRef="From2021-07-012022-06-30_custom_MezzanineLoanMember"> 2024-01-01 </srt:MortgageLoanOnRealEstateFinalMaturityDate>
<srt:MortgageLoansOnRealEstateFaceAmountOfMortgages contextRef="AsOf2019-07-31_custom_NewMezzanineLoanMember149628140" decimals="0" unitRef="USD"> 20000000 </srt:MortgageLoansOnRealEstateFaceAmountOfMortgages>
<srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-07-012019-07-31_custom_NewMezzanineLoanMember" decimals="INF" unitRef="Pure"> 0.0725 </srt:MortgageLoansOnRealEstateInterestRate>
<srt:MortgageLoanOnRealEstateFinalMaturityDate contextRef="From2019-07-012019-07-31_custom_NewMezzanineLoanMember"> 2024-01-01 </srt:MortgageLoanOnRealEstateFinalMaturityDate>
<us-gaap:GuaranteeObligationsCurrentCarryingValue contextRef="AsOf2017-05-12_custom_MortgageLoansMember" decimals="0" unitRef="USD"> 97000000 </us-gaap:GuaranteeObligationsCurrentCarryingValue>
<us-gaap:GuaranteeObligationsCurrentCarryingValue contextRef="AsOf2017-05-12_custom_MezzanineLoanMember" decimals="0" unitRef="USD"> 20000000 </us-gaap:GuaranteeObligationsCurrentCarryingValue>
<PRSI:DebtServiceCoverageRatioDescription contextRef="From2021-07-01to2022-06-30"> The DSCR for Operating had been below 1.00 from third quarter of fiscal year 2020 to third quarter of fiscal year 2022 while it is required to maintain a DSCR of at least 1.10 to 1.00 for two consecutive quarters. </PRSI:DebtServiceCoverageRatioDescription>
<PRSI:DebtServiceCoverageRatio contextRef="From2022-04-012022-06-30_custom_MortgageLoansMember" decimals="INF" unitRef="Pure"> 1.69 </PRSI:DebtServiceCoverageRatio>
<PRSI:DebtServiceCoverageRatio contextRef="From2022-04-012022-06-30_custom_MezzanineLoanMember" decimals="INF" unitRef="Pure"> 1.34 </PRSI:DebtServiceCoverageRatio>
<PRSI:ScheduleOfMortgagesTableTextBlock contextRef="From2021-07-01to2022-06-30">
<p id="xdx_897_ecustom--ScheduleOfMortgagesTableTextBlock_zIgWAF0OTiVc" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of June 30, 2022 and 2021, the Company had the following mortgages:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BA_zGl9BNrT4v6g" style="display: none">SCHEDULE OF MORTGAGES</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">June 30, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">June 30, 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Interest Rate</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Origination Date</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Maturity Date</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_ecustom--MortgageNotesPayableHotel_iI_c20220630__us-gaap--LongtermDebtTypeAxis__custom--FixedMortgageNotesPayableHotelFivePointTwoEightPercentageMember_zZtWaDmiLbVb" style="width: 15%; text-align: right" title="Mortgage notes payable hotel">89,114,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 0%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_ecustom--MortgageNotesPayableHotel_iI_c20210630__us-gaap--LongtermDebtTypeAxis__custom--FixedMortgageNotesPayableHotelFivePointTwoEightPercentageMember_zqhn8CeTRH09" style="width: 15%; text-align: right" title="Mortgage notes payable hotel">90,745,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 30%">Fixed <span id="xdx_908_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_c20220630__us-gaap--LongtermDebtTypeAxis__custom--FixedMortgageNotesPayableHotelFivePointTwoEightPercentageMember_zcrXLvHFdXNb" title="Debt instrument, interest rate, stated percentage">5.28</span>%</td><td style="width: 2%"> </td> <td id="xdx_983_eus-gaap--DebtInstrumentMaturityDateRangeStart1_dd_c20210701__20220630__us-gaap--LongtermDebtTypeAxis__custom--FixedMortgageNotesPayableHotelFivePointTwoEightPercentageMember_z5Q5pgZca1v5" style="width: 15%" title="Debt instrument, maturity date range, start">December 18, 2013</td><td style="width: 2%"> </td> <td id="xdx_982_eus-gaap--DebtInstrumentMaturityDateRangeEnd1_dd_c20210701__20220630__us-gaap--LongtermDebtTypeAxis__custom--FixedMortgageNotesPayableHotelFivePointTwoEightPercentageMember_ztIjb1wli1Z6" style="width: 15%" title="Debt instrument, maturity date range, end">January 1, 2024</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_980_ecustom--MortgageNotesPayableHotel_iI_c20220630__us-gaap--LongtermDebtTypeAxis__custom--FixedMortgageNotesPayableHotelSevenPointTwoFivePercentageMember_zKKv0X5xxu66" style="border-bottom: Black 1.5pt solid; text-align: right" title="Mortgage notes payable hotel">20,000,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_989_ecustom--MortgageNotesPayableHotel_iI_c20210630__us-gaap--LongtermDebtTypeAxis__custom--FixedMortgageNotesPayableHotelSevenPointTwoFivePercentageMember_zX5KvXmIgo3k" style="border-bottom: Black 1.5pt solid; text-align: right" title="Mortgage notes payable hotel">20,000,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt">Fixed <span id="xdx_90B_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_c20220630__us-gaap--LongtermDebtTypeAxis__custom--FixedMortgageNotesPayableHotelSevenPointTwoFivePercentageMember_zr4z9SW4n4U1" title="Debt instrument, interest rate, stated percentage">7.25</span>%</td><td style="padding-bottom: 1.5pt"> </td> <td id="xdx_983_eus-gaap--DebtInstrumentMaturityDateRangeStart1_dd_c20210701__20220630__us-gaap--LongtermDebtTypeAxis__custom--FixedMortgageNotesPayableHotelSevenPointTwoFivePercentageMember_zyYygVdgy8yg" style="padding-bottom: 1.5pt" title="Debt instrument, maturity date range, start">July 31, 2019</td><td style="padding-bottom: 1.5pt"> </td> <td id="xdx_982_eus-gaap--DebtInstrumentMaturityDateRangeEnd1_dd_c20210701__20220630__us-gaap--LongtermDebtTypeAxis__custom--FixedMortgageNotesPayableHotelSevenPointTwoFivePercentageMember_zCiOpktLQVh4" style="padding-bottom: 1.5pt" title="Debt instrument, maturity date range, end">January 1, 2024</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td id="xdx_98A_ecustom--MortgageNotesPayableGross_iI_maJJJ_c20220630_zH4nB9UBLtrk" style="text-align: right" title="Mortgage notes payable - hotel">109,114,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_ecustom--MortgageNotesPayableGross_iI_maJJJ_c20210630_zXEwu4kMpmZe" style="text-align: right" title="Mortgage notes payable - hotel">110,745,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">Mortgage notes payable - hotel</td><td> </td> <td> </td><td> </td> <td style="text-align: right"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--DeferredFinanceCostsNet_iNI_di_msJJJ_c20220630_zpjD15jdSm6b" style="border-bottom: Black 1.5pt solid; text-align: right" title="Net debt issuance costs">(367,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--DeferredFinanceCostsNet_iNI_di_msJJJ_c20210630_zRdhTf6cxCQi" style="border-bottom: Black 1.5pt solid; text-align: right" title="Net debt issuance costs">(611,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: left; padding-bottom: 1.5pt">Net debt issuance costs</td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: right; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_ecustom--MortgageNotesPayable_iTI_mtJJJ_c20220630_zdsuZzlwHNQg" style="border-bottom: Black 2.5pt double; text-align: right" title="Total mortgage notes payable - hotel">108,747,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98C_ecustom--MortgageNotesPayable_iTI_mtJJJ_c20210630_zKqzL3EvwAWh" style="border-bottom: Black 2.5pt double; text-align: right" title="Total mortgage notes payable - hotel">110,134,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: left; padding-bottom: 2.5pt">Total mortgage notes payable - hotel</td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: right; padding-bottom: 2.5pt"> </td></tr> </table>
</PRSI:ScheduleOfMortgagesTableTextBlock>
<PRSI:MortgageNotesPayableHotel contextRef="AsOf2022-06-30_custom_FixedMortgageNotesPayableHotelFivePointTwoEightPercentageMember" decimals="0" unitRef="USD"> 89114000 </PRSI:MortgageNotesPayableHotel>
<PRSI:MortgageNotesPayableHotel contextRef="AsOf2021-06-30_custom_FixedMortgageNotesPayableHotelFivePointTwoEightPercentageMember" decimals="0" unitRef="USD"> 90745000 </PRSI:MortgageNotesPayableHotel>
<us-gaap:DebtInstrumentInterestRateStatedPercentage contextRef="AsOf2022-06-30_custom_FixedMortgageNotesPayableHotelFivePointTwoEightPercentageMember" decimals="INF" unitRef="Pure"> 0.0528 </us-gaap:DebtInstrumentInterestRateStatedPercentage>
<us-gaap:DebtInstrumentMaturityDateRangeStart1 contextRef="From2021-07-012022-06-30_custom_FixedMortgageNotesPayableHotelFivePointTwoEightPercentageMember"> 2013-12-18 </us-gaap:DebtInstrumentMaturityDateRangeStart1>
<us-gaap:DebtInstrumentMaturityDateRangeEnd1 contextRef="From2021-07-012022-06-30_custom_FixedMortgageNotesPayableHotelFivePointTwoEightPercentageMember"> 2024-01-01 </us-gaap:DebtInstrumentMaturityDateRangeEnd1>
<PRSI:MortgageNotesPayableHotel contextRef="AsOf2022-06-30_custom_FixedMortgageNotesPayableHotelSevenPointTwoFivePercentageMember" decimals="0" unitRef="USD"> 20000000 </PRSI:MortgageNotesPayableHotel>
<PRSI:MortgageNotesPayableHotel contextRef="AsOf2021-06-30_custom_FixedMortgageNotesPayableHotelSevenPointTwoFivePercentageMember" decimals="0" unitRef="USD"> 20000000 </PRSI:MortgageNotesPayableHotel>
<us-gaap:DebtInstrumentInterestRateStatedPercentage contextRef="AsOf2022-06-30_custom_FixedMortgageNotesPayableHotelSevenPointTwoFivePercentageMember" decimals="INF" unitRef="Pure"> 0.0725 </us-gaap:DebtInstrumentInterestRateStatedPercentage>
<us-gaap:DebtInstrumentMaturityDateRangeStart1 contextRef="From2021-07-012022-06-30_custom_FixedMortgageNotesPayableHotelSevenPointTwoFivePercentageMember"> 2019-07-31 </us-gaap:DebtInstrumentMaturityDateRangeStart1>
<us-gaap:DebtInstrumentMaturityDateRangeEnd1 contextRef="From2021-07-012022-06-30_custom_FixedMortgageNotesPayableHotelSevenPointTwoFivePercentageMember"> 2024-01-01 </us-gaap:DebtInstrumentMaturityDateRangeEnd1>
<PRSI:MortgageNotesPayableGross contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 109114000 </PRSI:MortgageNotesPayableGross>
<PRSI:MortgageNotesPayableGross contextRef="AsOf2021-06-30" decimals="0" unitRef="USD"> 110745000 </PRSI:MortgageNotesPayableGross>
<us-gaap:DeferredFinanceCostsNet contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 367000 </us-gaap:DeferredFinanceCostsNet>
<us-gaap:DeferredFinanceCostsNet contextRef="AsOf2021-06-30" decimals="0" unitRef="USD"> 611000 </us-gaap:DeferredFinanceCostsNet>
<PRSI:MortgageNotesPayable contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 108747000 </PRSI:MortgageNotesPayable>
<PRSI:MortgageNotesPayable contextRef="AsOf2021-06-30" decimals="0" unitRef="USD"> 110134000 </PRSI:MortgageNotesPayable>
<us-gaap:ScheduleOfParticipatingMortgageLoansTextBlock contextRef="From2021-07-01to2022-06-30">
<p id="xdx_892_eus-gaap--ScheduleOfParticipatingMortgageLoansTextBlock_z1sKxC52xbC" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Future minimum principal payments for mortgage notes payable are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8BC_zgRenafxNE94" style="display: none">SCHEDULE OF MORTGAGE NOTES PAYABLE FUTURE MINIMUM PRINCIPLE PAYMENTS</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="text-align: center">For the year ending June 30,</td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: center">2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_maLLL_c20220630_z8wb6IeL2f11" style="width: 16%; text-align: right" title="2023">1,721,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center; padding-bottom: 1.5pt">2024</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_iI_maLLL_c20220630_zRXZe9Zq5i8d" style="border-bottom: Black 1.5pt solid; text-align: right" title="2024">107,393,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center; padding-bottom: 2.5pt"/><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--LongTermDebt_iTI_mtLLL_c20220630_zWq17yvocnHh" style="border-bottom: Black 2.5pt double; text-align: right" title="Long-term debt">109,114,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>
</us-gaap:ScheduleOfParticipatingMortgageLoansTextBlock>
<us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 1721000 </us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths>
<us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 107393000 </us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo>
<us-gaap:LongTermDebt contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 109114000 </us-gaap:LongTermDebt>
<PRSI:ManagementAgreementsTextBlock contextRef="From2021-07-01to2022-06-30">
<p id="xdx_804_ecustom--ManagementAgreementsTextBlock_z8KdGMESmwg5" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 11 – <span id="xdx_82D_z5JfFGmtAzRe">MANAGEMENT AGREEMENTS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On February 1, 2017, Operating entered into a Hotel management agreement (“HMA”) with Aimbridge Hospitality (“Aimbridge”) to manage the Hotel with an effective takeover date of February 3, 2017. The term of management agreement is for an initial period of <span id="xdx_905_eus-gaap--DebtInstrumentTerm_dtY_c20170201__20170201_zMg1OeRkshJ6" title="Debt instrument terms">10</span> years commencing on the takeover date and automatically renews for an additional year not to exceed five years in the aggregate subject to certain conditions. The HMA also provides for Aimbridge to advance a key money incentive fee to the Hotel for capital improvements in the amount of $<span id="xdx_90B_ecustom--KeyMoneyIncentiveAdvanceToRelatedParty_pp0p0_c20170201__20170201_z6T4F1t6HXb7" title="Key money incentive advance to related party">2,000,000</span> 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 (<span id="xdx_90F_eus-gaap--DebtInstrumentConvertibleRemainingDiscountAmortizationPeriod1_dtY_c20170201__20170201_zUUJrYDJygS2" title="Debt Instrument amortization period">8</span>) year period commencing on the second (2<sup>nd</sup>) anniversary of the takeover date. As of June 30, 2021, the key money balance was <span id="xdx_900_eus-gaap--DepositLiabilitiesAccruedInterest_iI_dc_c20210630_zV5GVKrbe1r7" title="Accrued interest">zero</span> as the Hotel obtained approval from Aimbridge to use the funds for hotel operations during the first quarter of fiscal year 2021. As of June 30, 2022 and 2021, balance of the unamortized portion of the key money are $<span id="xdx_90E_ecustom--UnamortizedPortionOfKeyMoneyPayment_c20210701__20220630_zryZwa1rPKul" title="Unamortized portion of key money payment">1,146,000</span> and $<span id="xdx_905_ecustom--UnamortizedPortionOfKeyMoneyPayment_c20200701__20210630_zSVoVivKy2S7" title="Unamortized portion of key money payment">1,396,000</span>, respectively, and are included in the related party notes payable in the consolidated balance sheets. For the fiscal years ended June 30, 2022 and 2021, hotel management fees were $<span id="xdx_90A_ecustom--HotelManagementFees_c20210701__20220630_zxugNGfV8Gni" title="Hotel management fees">1,055,000</span> and $<span id="xdx_90F_ecustom--HotelManagementFees_c20200701__20210630_z2sceHXk29U9" title="Hotel management fees">242,000</span>, respectively, offset by key money amortization of $<span id="xdx_909_eus-gaap--AdjustmentForAmortization_pp0p0_c20210701__20220630_zCmbXII2c5wa" title="Amortization expense"><span id="xdx_905_eus-gaap--AdjustmentForAmortization_pp0p0_c20200701__20210630_zQkp51F4i9r8" title="Amortization expense">250,000</span></span> for both years and are included in Hotel operating expenses in the consolidated statements of operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
</PRSI:ManagementAgreementsTextBlock>
<us-gaap:DebtInstrumentTerm contextRef="From2017-02-012017-02-01"> P10Y </us-gaap:DebtInstrumentTerm>
<PRSI:KeyMoneyIncentiveAdvanceToRelatedParty contextRef="From2017-02-012017-02-01" decimals="0" unitRef="USD"> 2000000 </PRSI:KeyMoneyIncentiveAdvanceToRelatedParty>
<us-gaap:DebtInstrumentConvertibleRemainingDiscountAmortizationPeriod1 contextRef="From2017-02-012017-02-01"> P8Y </us-gaap:DebtInstrumentConvertibleRemainingDiscountAmortizationPeriod1>
<us-gaap:DepositLiabilitiesAccruedInterest contextRef="AsOf2021-06-30" decimals="0" unitRef="USD"> 0 </us-gaap:DepositLiabilitiesAccruedInterest>
<PRSI:UnamortizedPortionOfKeyMoneyPayment contextRef="From2021-07-01to2022-06-30" decimals="0" unitRef="USD"> 1146000 </PRSI:UnamortizedPortionOfKeyMoneyPayment>
<PRSI:UnamortizedPortionOfKeyMoneyPayment contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> 1396000 </PRSI:UnamortizedPortionOfKeyMoneyPayment>
<PRSI:HotelManagementFees contextRef="From2021-07-01to2022-06-30" decimals="0" unitRef="USD"> 1055000 </PRSI:HotelManagementFees>
<PRSI:HotelManagementFees contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> 242000 </PRSI:HotelManagementFees>
<us-gaap:AdjustmentForAmortization contextRef="From2021-07-01to2022-06-30" decimals="0" unitRef="USD"> 250000 </us-gaap:AdjustmentForAmortization>
<us-gaap:AdjustmentForAmortization contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> 250000 </us-gaap:AdjustmentForAmortization>
<us-gaap:ConcentrationRiskDisclosureTextBlock contextRef="From2021-07-01to2022-06-30">
<p id="xdx_80D_eus-gaap--ConcentrationRiskDisclosureTextBlock_zQoVVc5BOQtg" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 12 – <span id="xdx_82E_zwd9q1zopwP4">CONCENTRATION OF CREDIT RISK</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of June 30, 2022 and 2021, all accounts receivables are related to Hotel customers. The Hotel had two customers that accounted for <span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_dp_c20210701__20220630__srt--MajorCustomersAxis__custom--TwoCustomersMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis__srt--HotelMember_zyLKPJ61dEm1" title="Concentration risk, percentage">88</span>%, or $<span id="xdx_90D_eus-gaap--AccountsReceivableNet_iI_pp0p0_c20220630__srt--MajorCustomersAxis__custom--TwoCustomersMember__srt--MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis__srt--HotelMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zIOqTq5VDyde" title="Accounts receivable, net">183,000</span> of accounts receivable at June 30, 2022, and two customers that accounted for <span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_dp_c20200701__20210630__srt--MajorCustomersAxis__custom--TwoCustomersMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis__srt--HotelMember_ztiWRy6NEHRd" title="Concentration risk, percentage">89</span>%, or $<span id="xdx_90F_eus-gaap--AccountsReceivableNet_iI_pp0p0_c20210630__srt--MajorCustomersAxis__custom--TwoCustomersMember__srt--MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis__srt--HotelMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zTkfeCHFiCZc" title="Accounts receivable, net">64,000</span> of accounts receivable at June 30, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company maintains its cash and cash equivalents and restricted cash with various financial institutions that are monitored regularly for credit quality. At times, such cash and cash equivalents holdings may be in excess of the Federal Deposit Insurance Corporation (“FDIC”) or other federally insured limits; however, the Company has never suffered any losses as a result of such high balances.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p>
</us-gaap:ConcentrationRiskDisclosureTextBlock>
<us-gaap:ConcentrationRiskPercentage1 contextRef="From2021-07-012022-06-30_custom_TwoCustomersMember_us-gaap_AccountsReceivableMember_us-gaap_CustomerConcentrationRiskMember_srt_HotelMember" decimals="INF" unitRef="Pure"> 0.88 </us-gaap:ConcentrationRiskPercentage1>
<us-gaap:AccountsReceivableNet contextRef="AsOf2022-06-30_custom_TwoCustomersMember_srt_HotelMember_us-gaap_AccountsReceivableMember_us-gaap_CustomerConcentrationRiskMember" decimals="0" unitRef="USD"> 183000 </us-gaap:AccountsReceivableNet>
<us-gaap:ConcentrationRiskPercentage1 contextRef="From2020-07-012021-06-30_custom_TwoCustomersMember_us-gaap_AccountsReceivableMember_us-gaap_CustomerConcentrationRiskMember_srt_HotelMember" decimals="INF" unitRef="Pure"> 0.89 </us-gaap:ConcentrationRiskPercentage1>
<us-gaap:AccountsReceivableNet contextRef="AsOf2021-06-30_custom_TwoCustomersMember_srt_HotelMember_us-gaap_AccountsReceivableMember_us-gaap_CustomerConcentrationRiskMember" decimals="0" unitRef="USD"> 64000 </us-gaap:AccountsReceivableNet>
<us-gaap:IncomeTaxDisclosureTextBlock contextRef="From2021-07-01to2022-06-30">
<p id="xdx_807_eus-gaap--IncomeTaxDisclosureTextBlock_z4SboxJ7vNWe" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 13 -<span id="xdx_82D_zj4qXkGjvUq9"> INCOME TAXES</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_898_eus-gaap--ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_zKn3Wdyo9vw2" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The provision for income tax (expense) benefit consists of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8BE_zOszm8Znoiy4" style="display: none">SCHEDULE OF PROVISION FOR INCOME TAX (EXPENSE) BENEFIT</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">For the years ended June 30,</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49A_20210701__20220630_z1U4dbJ4vLRa" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_491_20200701__20210630_zesFnvf7mx86" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Federal</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--CurrentFederalTaxExpenseBenefit_iN_pp0p0_di_maFITEBzgbl_zT1WBuU0qvRf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Current tax expense</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1061">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1062">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredFederalIncomeTaxExpenseBenefit_iN_pp0p0_di_maFITEBzgbl_zauPTAbdiZx6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left; padding-bottom: 1.5pt; padding-left: 10pt">Deferred tax (expense) benefit</td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; width: 16%; text-align: right">(310,000</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; width: 16%; text-align: right">1,606,000</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--FederalIncomeTaxExpenseBenefitContinuingOperations_iNT_pp0p0_di_mtFITEBzgbl_maITEBza5a_zjkPfUT0zHf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Federal income tax benefit</span></td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(310,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,606,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>State</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--CurrentStateAndLocalTaxExpenseBenefit_iN_pp0p0_di_maSALITzBGV_z5aE7Oo8rJ2d" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Current tax (expense)benefit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">65,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DeferredStateAndLocalIncomeTaxExpenseBenefit_iN_pp0p0_di_maSALITzBGV_zdK0vYTklwr4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 10pt">Deferred tax benefit</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">169,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">475,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--StateAndLocalIncomeTaxExpenseBenefitContinuingOperations_iNT_pp0p0_di_mtSALITzBGV_maITEBza5a_z8aTu3OUwfxc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">State and local income tax benefit</span></td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">168,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">540,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--IncomeTaxExpenseBenefit_iNT_pp0p0_di_mtITEBza5a_zHiOtnPz6gFf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total income tax (expense) benefit</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(142,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,146,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A9_zPx5OoBo3287" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89B_eus-gaap--ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_zlxSJFVdEKeg" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A reconciliation of the statutory federal income tax rate to the effective tax rate is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B7_zZW820SSznK4" style="display: none">SCHEDULE OF STATUTORY FEDERAL INCOME TAX RATE</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">For the years ended June 30,</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49C_20210701__20220630_z7QjuNYZZkXi" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_497_20200701__20210630_zJHz20GmJ3Tk" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_408_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_zBFAefm46jHa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Statutory federal tax rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">21.0</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">21.0</td><td style="width: 1%; text-align: left">%</td></tr> <tr id="xdx_408_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_pid_dp_uPure_zlanYsR9QIa5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">State income taxes, net of federal tax benefit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.8</td><td style="text-align: left">%</td></tr> <tr id="xdx_400_ecustom--EffectiveIncomeTaxRateReconciliationNontaxablePppLoan_pid_dp_uPure_zNQFVe7VAdif" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Non-taxable PPP loan</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">21.7</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1091">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--EffectiveIncomeTaxRateReconciliationProvisionToReturnAdjustment_pid_dp_uPure_zn0NqBu6e1Hk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Provision to return adjustment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.3</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.9</td><td style="text-align: left">%</td></tr> <tr id="xdx_40D_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_pid_dp_uPure_zl8yp7AJwlI5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Valuation allowance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-236.7</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-4.3</td><td style="text-align: left">%</td></tr> <tr id="xdx_40F_ecustom--EffectiveIncomeTaxRateReconciliationDeferralTrueupJusticeBasisDiffInFa_pid_dp_uPure_zXwOOPTpkpgg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Deferral True-Up – Justice Basis Diff in FA</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">180.9</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1100">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--EffectiveIncomeTaxRateReconciliationOtherAdjustments_pid_dp_uPure_zReydMPnpE56" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Other</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">0.6</td><td style="padding-bottom: 1.5pt; text-align: left">%</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">3.6</td><td style="padding-bottom: 1.5pt; text-align: left">%</td></tr> <tr id="xdx_40F_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_pid_dp_uPure_z6HERzV2BfD1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Effective income tax rate reconciliation percentage</span></td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">-2.2</td><td style="padding-bottom: 2.5pt; text-align: left">%</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">29.0</td><td style="padding-bottom: 2.5pt; text-align: left">%</td></tr> </table> <p id="xdx_8A2_zLC59n6ZCOG5" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_890_eus-gaap--ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_zD7tvvz8MFF" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The components of the Company’s deferred tax assets and (liabilities) as of June 30, 2022 and 2021 are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8BD_zL4QSZTSx9sl" style="display: none">SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49A_20220630_z2fAmI9eVqBh" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_490_20210630_zaZZpUkb19r1" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred tax assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_pp0p0_maDTANzTJI_znJnwrc0xdE3" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left; padding-left: 10pt">Net operating loss carryforward</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">10,925,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">9,802,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DeferredTaxAssetsInvestments_iI_pp0p0_maDTANzTJI_zsHKoR6pgpl2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Investment reserve</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1113">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">671,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--DeferredTaxAssetsInterestExpense_iI_pp0p0_maDTANzTJI_zsMiGtTRgfff" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Interest expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,231,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,684,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals_iI_pp0p0_maDTANzTJI_zkxDHvdewpDk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Accruals and reserves</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">587,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1120">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--DeferredTaxAssetsTaxDeferredExpenseDepreciation_iI_pp0p0_maDTANzTJI_z7l7XiZbOs7c" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,646,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1123">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--DeferredTaxAssetsOther_iI_pp0p0_maDTANzTJI_zhibS15k6dC" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; padding-left: 10pt">Other</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,800,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,423,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--DeferredTaxAssetsGross_iTI_pp0p0_mtDTANzTJI_maDTANzDXr_zOauc8YIIzrl" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt; padding-left: 0pt">Deferred tax assets before valuation allowance</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">31,189,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">14,580,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_pp0p0_di_msDTANzDXr_zvtQHrBM0V4f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; padding-left: 10pt">Less Valuation allowance</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(22,775,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(951,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--DeferredTaxAssetsNet_iTI_pp0p0_mtDTANzDXr_maDTALNz3W1_zENqDhDeg3q8" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt; padding-left: 0pt">Deferred tax assets after valuation allowance</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">8,414,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">13,629,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0pt"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Deferred tax liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DeferredTaxLiabilitiesDeferredExpense_iNI_pp0p0_di_maDITLz2kP_zGgPKhpy90Xl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Basis difference in Justice</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1137">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,092,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_409_ecustom--DeferredTaxLiabilitiesStateTaxDeferredIncome_iNI_pp0p0_di_maDITLz2kP_zlUzJIL9D1b" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">State taxes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(503,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(482,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--DeferredIncomeTaxLiabilities_iNTI_pp0p0_di_mtDITLz2kP_msDTALNz3W1_zFBHDI2RE1ej" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Deferred Tax Liabilities</span></td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(503,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(5,574,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iTI_pp0p0_mtDTALNz3W1_z1v5nvpn0Jzg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Net deferred tax assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7,911,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">8,055,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AC_zrA7iKG1Fhg6" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management considers new evidence, both positive and negative, that could affect its view of the future realization of deferred tax assets to determine if it is more likely than not that the deferred tax asset will be realized. As of June 30, 2022, it has been determined that it is more likely than not that the deferred tax asset will not be recognized with the exception of forecasted five-year projected income. Thus, there was a valuation allowance of $<span id="xdx_904_eus-gaap--DeferredTaxAssetsValuationAllowance_iI_c20220630_zts7Olnb4aQ5" title="Valuation allowance">22,775,000</span> as of June 30, 2022. This was an increase of $<span id="xdx_906_eus-gaap--ValuationAllowanceDeferredTaxAssetChangeInAmount_c20210701__20220630_zDliZ9MDT3E8" title="Increase in valuation allowance">21,824,000</span> from June 30, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of June 30, 2022, the Company had net operating loss (“NOL”) carryforwards of approximately $<span id="xdx_909_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwardsDomestic_iI_pp0p0_c20220630_zLPa7Ax0EhAk" title="Net operating loss carryforwards, federal">35,011,000 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and $<span id="xdx_90D_eus-gaap--OperatingLossCarryforwards_iI_pp0p0_c20220630__us-gaap--IncomeTaxAuthorityAxis__us-gaap--StateAndLocalJurisdictionMember_zy8TF5EhXmYf" title="Net operating loss carryforwards, state">40,416,000 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">for federal and state purposes, respectively. Of the $<span id="xdx_906_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwardsDomestic_iI_pp0p0_c20220630_zHWgBxzVA654" title="Net operating loss carryforwards, federal">35,011,000</span> federal NOL’s carryforwards , $<span id="xdx_903_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_pp0p0_c20220630__us-gaap--IncomeTaxAuthorityAxis__custom--TwoThousandThirtySevenMember_z5HopUKHeZIh" title="Operating loss carryforwards">14,697,000</span> expire in varying amount through 2037 and</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> $<span id="xdx_908_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_pp0p0_c20220630__us-gaap--IncomeTaxAuthorityAxis__custom--TwoThousandSeventeenNOLsMember_zoWHUlDmr3W4" title="Operating loss carryforwards">20,314,000</span> of post 2017 NOL’s can be carried forward indefinitely. Note that the post 2017 NOL’s may only offset <span id="xdx_904_eus-gaap--EffectiveIncomeTaxRateReconciliationTaxSettlements_dp_uPure_c20210701__20220630_zxIGllxJiZSg" title="Future taxable income percentage">80</span>% of future taxable income.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Assets and liabilities are established for uncertain tax positions taken or positions expected to be taken in income tax returns when such positions are judged to not meet the “more-likely-than-not” threshold based on the technical merits of the positions. As of June 30, 2022, it has been determined that there are no uncertain tax positions likely to impact the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Utilization of the net operating loss carryover may be subject a substantial annual limitation if it should be determined that there has been a change in the ownership of more than 50 percent of the value of the Company’s stock, pursuant to Section 382 of the Internal Revenue Code of 1986 and similar state provisions. The annual limitation may result in the expiration of net operating loss carryovers before utilization.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company and the Partnership files tax returns as prescribed by the tax laws of the jurisdictions in which it operates and is subject to examination by federal, state and local jurisdictions, where applicable. Note that the Partnership was dissolved in 2021 and filed its required final tax returns as a result of the Company completing the acquisition of 100% of Justice Investors LP.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of June 30, 2022, tax years beginning in fiscal years 2018 and 2017 remain open to examination by the major tax jurisdictions and are subject to the statute of limitations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
</us-gaap:IncomeTaxDisclosureTextBlock>
<us-gaap:ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock contextRef="From2021-07-01to2022-06-30">
<p id="xdx_898_eus-gaap--ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_zKn3Wdyo9vw2" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The provision for income tax (expense) benefit consists of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8BE_zOszm8Znoiy4" style="display: none">SCHEDULE OF PROVISION FOR INCOME TAX (EXPENSE) BENEFIT</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">For the years ended June 30,</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49A_20210701__20220630_z1U4dbJ4vLRa" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_491_20200701__20210630_zesFnvf7mx86" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Federal</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--CurrentFederalTaxExpenseBenefit_iN_pp0p0_di_maFITEBzgbl_zT1WBuU0qvRf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Current tax expense</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1061">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1062">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredFederalIncomeTaxExpenseBenefit_iN_pp0p0_di_maFITEBzgbl_zauPTAbdiZx6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left; padding-bottom: 1.5pt; padding-left: 10pt">Deferred tax (expense) benefit</td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; width: 16%; text-align: right">(310,000</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; width: 16%; text-align: right">1,606,000</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--FederalIncomeTaxExpenseBenefitContinuingOperations_iNT_pp0p0_di_mtFITEBzgbl_maITEBza5a_zjkPfUT0zHf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Federal income tax benefit</span></td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(310,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,606,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>State</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--CurrentStateAndLocalTaxExpenseBenefit_iN_pp0p0_di_maSALITzBGV_z5aE7Oo8rJ2d" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Current tax (expense)benefit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">65,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DeferredStateAndLocalIncomeTaxExpenseBenefit_iN_pp0p0_di_maSALITzBGV_zdK0vYTklwr4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 10pt">Deferred tax benefit</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">169,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">475,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--StateAndLocalIncomeTaxExpenseBenefitContinuingOperations_iNT_pp0p0_di_mtSALITzBGV_maITEBza5a_z8aTu3OUwfxc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">State and local income tax benefit</span></td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">168,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">540,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--IncomeTaxExpenseBenefit_iNT_pp0p0_di_mtITEBza5a_zHiOtnPz6gFf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total income tax (expense) benefit</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(142,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,146,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>
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<us-gaap:DeferredFederalIncomeTaxExpenseBenefit contextRef="From2021-07-01to2022-06-30" decimals="0" unitRef="USD"> 310000 </us-gaap:DeferredFederalIncomeTaxExpenseBenefit>
<us-gaap:DeferredFederalIncomeTaxExpenseBenefit contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> -1606000 </us-gaap:DeferredFederalIncomeTaxExpenseBenefit>
<us-gaap:FederalIncomeTaxExpenseBenefitContinuingOperations contextRef="From2021-07-01to2022-06-30" decimals="0" unitRef="USD"> 310000 </us-gaap:FederalIncomeTaxExpenseBenefitContinuingOperations>
<us-gaap:FederalIncomeTaxExpenseBenefitContinuingOperations contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> -1606000 </us-gaap:FederalIncomeTaxExpenseBenefitContinuingOperations>
<us-gaap:CurrentStateAndLocalTaxExpenseBenefit contextRef="From2021-07-01to2022-06-30" decimals="0" unitRef="USD"> 1000 </us-gaap:CurrentStateAndLocalTaxExpenseBenefit>
<us-gaap:CurrentStateAndLocalTaxExpenseBenefit contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> -65000 </us-gaap:CurrentStateAndLocalTaxExpenseBenefit>
<us-gaap:DeferredStateAndLocalIncomeTaxExpenseBenefit contextRef="From2021-07-01to2022-06-30" decimals="0" unitRef="USD"> -169000 </us-gaap:DeferredStateAndLocalIncomeTaxExpenseBenefit>
<us-gaap:DeferredStateAndLocalIncomeTaxExpenseBenefit contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> -475000 </us-gaap:DeferredStateAndLocalIncomeTaxExpenseBenefit>
<us-gaap:StateAndLocalIncomeTaxExpenseBenefitContinuingOperations contextRef="From2021-07-01to2022-06-30" decimals="0" unitRef="USD"> -168000 </us-gaap:StateAndLocalIncomeTaxExpenseBenefitContinuingOperations>
<us-gaap:StateAndLocalIncomeTaxExpenseBenefitContinuingOperations contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> -540000 </us-gaap:StateAndLocalIncomeTaxExpenseBenefitContinuingOperations>
<us-gaap:IncomeTaxExpenseBenefit contextRef="From2021-07-01to2022-06-30" decimals="0" unitRef="USD"> 142000 </us-gaap:IncomeTaxExpenseBenefit>
<us-gaap:IncomeTaxExpenseBenefit contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> -2146000 </us-gaap:IncomeTaxExpenseBenefit>
<us-gaap:ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock contextRef="From2021-07-01to2022-06-30">
<p id="xdx_89B_eus-gaap--ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_zlxSJFVdEKeg" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A reconciliation of the statutory federal income tax rate to the effective tax rate is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B7_zZW820SSznK4" style="display: none">SCHEDULE OF STATUTORY FEDERAL INCOME TAX RATE</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">For the years ended June 30,</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49C_20210701__20220630_z7QjuNYZZkXi" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_497_20200701__20210630_zJHz20GmJ3Tk" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_408_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_zBFAefm46jHa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Statutory federal tax rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">21.0</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">21.0</td><td style="width: 1%; text-align: left">%</td></tr> <tr id="xdx_408_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_pid_dp_uPure_zlanYsR9QIa5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">State income taxes, net of federal tax benefit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.8</td><td style="text-align: left">%</td></tr> <tr id="xdx_400_ecustom--EffectiveIncomeTaxRateReconciliationNontaxablePppLoan_pid_dp_uPure_zNQFVe7VAdif" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Non-taxable PPP loan</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">21.7</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1091">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--EffectiveIncomeTaxRateReconciliationProvisionToReturnAdjustment_pid_dp_uPure_zn0NqBu6e1Hk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Provision to return adjustment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.3</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.9</td><td style="text-align: left">%</td></tr> <tr id="xdx_40D_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_pid_dp_uPure_zl8yp7AJwlI5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Valuation allowance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-236.7</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-4.3</td><td style="text-align: left">%</td></tr> <tr id="xdx_40F_ecustom--EffectiveIncomeTaxRateReconciliationDeferralTrueupJusticeBasisDiffInFa_pid_dp_uPure_zXwOOPTpkpgg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Deferral True-Up – Justice Basis Diff in FA</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">180.9</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1100">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--EffectiveIncomeTaxRateReconciliationOtherAdjustments_pid_dp_uPure_zReydMPnpE56" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Other</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">0.6</td><td style="padding-bottom: 1.5pt; text-align: left">%</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">3.6</td><td style="padding-bottom: 1.5pt; text-align: left">%</td></tr> <tr id="xdx_40F_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_pid_dp_uPure_z6HERzV2BfD1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Effective income tax rate reconciliation percentage</span></td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">-2.2</td><td style="padding-bottom: 2.5pt; text-align: left">%</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">29.0</td><td style="padding-bottom: 2.5pt; text-align: left">%</td></tr> </table>
</us-gaap:ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock>
<us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate contextRef="From2021-07-01to2022-06-30" decimals="INF" unitRef="Pure"> 0.210 </us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate>
<us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate contextRef="From2020-07-012021-06-30" decimals="INF" unitRef="Pure"> 0.210 </us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate>
<us-gaap:EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes contextRef="From2021-07-01to2022-06-30" decimals="INF" unitRef="Pure"> 0.020 </us-gaap:EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes>
<us-gaap:EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes contextRef="From2020-07-012021-06-30" decimals="INF" unitRef="Pure"> 0.058 </us-gaap:EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes>
<PRSI:EffectiveIncomeTaxRateReconciliationNontaxablePppLoan contextRef="From2021-07-01to2022-06-30" decimals="INF" unitRef="Pure"> 0.217 </PRSI:EffectiveIncomeTaxRateReconciliationNontaxablePppLoan>
<PRSI:EffectiveIncomeTaxRateReconciliationProvisionToReturnAdjustment contextRef="From2021-07-01to2022-06-30" decimals="INF" unitRef="Pure"> 0.083 </PRSI:EffectiveIncomeTaxRateReconciliationProvisionToReturnAdjustment>
<PRSI:EffectiveIncomeTaxRateReconciliationProvisionToReturnAdjustment contextRef="From2020-07-012021-06-30" decimals="INF" unitRef="Pure"> 0.029 </PRSI:EffectiveIncomeTaxRateReconciliationProvisionToReturnAdjustment>
<us-gaap:EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance contextRef="From2021-07-01to2022-06-30" decimals="INF" unitRef="Pure"> -2.367 </us-gaap:EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance>
<us-gaap:EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance contextRef="From2020-07-012021-06-30" decimals="INF" unitRef="Pure"> -0.043 </us-gaap:EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance>
<PRSI:EffectiveIncomeTaxRateReconciliationDeferralTrueupJusticeBasisDiffInFa contextRef="From2021-07-01to2022-06-30" decimals="INF" unitRef="Pure"> 1.809 </PRSI:EffectiveIncomeTaxRateReconciliationDeferralTrueupJusticeBasisDiffInFa>
<us-gaap:EffectiveIncomeTaxRateReconciliationOtherAdjustments contextRef="From2021-07-01to2022-06-30" decimals="INF" unitRef="Pure"> 0.006 </us-gaap:EffectiveIncomeTaxRateReconciliationOtherAdjustments>
<us-gaap:EffectiveIncomeTaxRateReconciliationOtherAdjustments contextRef="From2020-07-012021-06-30" decimals="INF" unitRef="Pure"> 0.036 </us-gaap:EffectiveIncomeTaxRateReconciliationOtherAdjustments>
<us-gaap:EffectiveIncomeTaxRateContinuingOperations contextRef="From2021-07-01to2022-06-30" decimals="INF" unitRef="Pure"> -0.022 </us-gaap:EffectiveIncomeTaxRateContinuingOperations>
<us-gaap:EffectiveIncomeTaxRateContinuingOperations contextRef="From2020-07-012021-06-30" decimals="INF" unitRef="Pure"> 0.290 </us-gaap:EffectiveIncomeTaxRateContinuingOperations>
<us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock contextRef="From2021-07-01to2022-06-30">
<p id="xdx_890_eus-gaap--ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_zD7tvvz8MFF" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The components of the Company’s deferred tax assets and (liabilities) as of June 30, 2022 and 2021 are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8BD_zL4QSZTSx9sl" style="display: none">SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49A_20220630_z2fAmI9eVqBh" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_490_20210630_zaZZpUkb19r1" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred tax assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_pp0p0_maDTANzTJI_znJnwrc0xdE3" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left; padding-left: 10pt">Net operating loss carryforward</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">10,925,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">9,802,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DeferredTaxAssetsInvestments_iI_pp0p0_maDTANzTJI_zsHKoR6pgpl2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Investment reserve</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1113">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">671,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--DeferredTaxAssetsInterestExpense_iI_pp0p0_maDTANzTJI_zsMiGtTRgfff" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Interest expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,231,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,684,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals_iI_pp0p0_maDTANzTJI_zkxDHvdewpDk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Accruals and reserves</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">587,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1120">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--DeferredTaxAssetsTaxDeferredExpenseDepreciation_iI_pp0p0_maDTANzTJI_z7l7XiZbOs7c" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,646,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1123">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--DeferredTaxAssetsOther_iI_pp0p0_maDTANzTJI_zhibS15k6dC" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; padding-left: 10pt">Other</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,800,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,423,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--DeferredTaxAssetsGross_iTI_pp0p0_mtDTANzTJI_maDTANzDXr_zOauc8YIIzrl" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt; padding-left: 0pt">Deferred tax assets before valuation allowance</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">31,189,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">14,580,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_pp0p0_di_msDTANzDXr_zvtQHrBM0V4f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; padding-left: 10pt">Less Valuation allowance</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(22,775,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(951,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--DeferredTaxAssetsNet_iTI_pp0p0_mtDTANzDXr_maDTALNz3W1_zENqDhDeg3q8" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt; padding-left: 0pt">Deferred tax assets after valuation allowance</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">8,414,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">13,629,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0pt"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Deferred tax liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DeferredTaxLiabilitiesDeferredExpense_iNI_pp0p0_di_maDITLz2kP_zGgPKhpy90Xl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Basis difference in Justice</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1137">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,092,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_409_ecustom--DeferredTaxLiabilitiesStateTaxDeferredIncome_iNI_pp0p0_di_maDITLz2kP_zlUzJIL9D1b" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">State taxes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(503,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(482,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--DeferredIncomeTaxLiabilities_iNTI_pp0p0_di_mtDITLz2kP_msDTALNz3W1_zFBHDI2RE1ej" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Deferred Tax Liabilities</span></td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(503,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(5,574,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iTI_pp0p0_mtDTALNz3W1_z1v5nvpn0Jzg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Net deferred tax assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7,911,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">8,055,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>
</us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock>
<us-gaap:DeferredTaxAssetsOperatingLossCarryforwards contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 10925000 </us-gaap:DeferredTaxAssetsOperatingLossCarryforwards>
<us-gaap:DeferredTaxAssetsOperatingLossCarryforwards contextRef="AsOf2021-06-30" decimals="0" unitRef="USD"> 9802000 </us-gaap:DeferredTaxAssetsOperatingLossCarryforwards>
<us-gaap:DeferredTaxAssetsInvestments contextRef="AsOf2021-06-30" decimals="0" unitRef="USD"> 671000 </us-gaap:DeferredTaxAssetsInvestments>
<PRSI:DeferredTaxAssetsInterestExpense contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 2231000 </PRSI:DeferredTaxAssetsInterestExpense>
<PRSI:DeferredTaxAssetsInterestExpense contextRef="AsOf2021-06-30" decimals="0" unitRef="USD"> 2684000 </PRSI:DeferredTaxAssetsInterestExpense>
<us-gaap:DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 587000 </us-gaap:DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals>
<PRSI:DeferredTaxAssetsTaxDeferredExpenseDepreciation contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 15646000 </PRSI:DeferredTaxAssetsTaxDeferredExpenseDepreciation>
<us-gaap:DeferredTaxAssetsOther contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 1800000 </us-gaap:DeferredTaxAssetsOther>
<us-gaap:DeferredTaxAssetsOther contextRef="AsOf2021-06-30" decimals="0" unitRef="USD"> 1423000 </us-gaap:DeferredTaxAssetsOther>
<us-gaap:DeferredTaxAssetsGross contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 31189000 </us-gaap:DeferredTaxAssetsGross>
<us-gaap:DeferredTaxAssetsGross contextRef="AsOf2021-06-30" decimals="0" unitRef="USD"> 14580000 </us-gaap:DeferredTaxAssetsGross>
<us-gaap:DeferredTaxAssetsValuationAllowance contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 22775000 </us-gaap:DeferredTaxAssetsValuationAllowance>
<us-gaap:DeferredTaxAssetsValuationAllowance contextRef="AsOf2021-06-30" decimals="0" unitRef="USD"> 951000 </us-gaap:DeferredTaxAssetsValuationAllowance>
<us-gaap:DeferredTaxAssetsNet contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 8414000 </us-gaap:DeferredTaxAssetsNet>
<us-gaap:DeferredTaxAssetsNet contextRef="AsOf2021-06-30" decimals="0" unitRef="USD"> 13629000 </us-gaap:DeferredTaxAssetsNet>
<us-gaap:DeferredTaxLiabilitiesDeferredExpense contextRef="AsOf2021-06-30" decimals="0" unitRef="USD"> 5092000 </us-gaap:DeferredTaxLiabilitiesDeferredExpense>
<PRSI:DeferredTaxLiabilitiesStateTaxDeferredIncome contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 503000 </PRSI:DeferredTaxLiabilitiesStateTaxDeferredIncome>
<PRSI:DeferredTaxLiabilitiesStateTaxDeferredIncome contextRef="AsOf2021-06-30" decimals="0" unitRef="USD"> 482000 </PRSI:DeferredTaxLiabilitiesStateTaxDeferredIncome>
<us-gaap:DeferredIncomeTaxLiabilities contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 503000 </us-gaap:DeferredIncomeTaxLiabilities>
<us-gaap:DeferredIncomeTaxLiabilities contextRef="AsOf2021-06-30" decimals="0" unitRef="USD"> 5574000 </us-gaap:DeferredIncomeTaxLiabilities>
<us-gaap:DeferredTaxAssetsLiabilitiesNet contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 7911000 </us-gaap:DeferredTaxAssetsLiabilitiesNet>
<us-gaap:DeferredTaxAssetsLiabilitiesNet contextRef="AsOf2021-06-30" decimals="0" unitRef="USD"> 8055000 </us-gaap:DeferredTaxAssetsLiabilitiesNet>
<us-gaap:DeferredTaxAssetsValuationAllowance contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 22775000 </us-gaap:DeferredTaxAssetsValuationAllowance>
<us-gaap:ValuationAllowanceDeferredTaxAssetChangeInAmount contextRef="From2021-07-01to2022-06-30" decimals="0" unitRef="USD"> 21824000 </us-gaap:ValuationAllowanceDeferredTaxAssetChangeInAmount>
<us-gaap:DeferredTaxAssetsOperatingLossCarryforwardsDomestic contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 35011000 </us-gaap:DeferredTaxAssetsOperatingLossCarryforwardsDomestic>
<us-gaap:OperatingLossCarryforwards contextRef="AsOf2022-06-30_us-gaap_StateAndLocalJurisdictionMember" decimals="0" unitRef="USD"> 40416000 </us-gaap:OperatingLossCarryforwards>
<us-gaap:DeferredTaxAssetsOperatingLossCarryforwardsDomestic contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 35011000 </us-gaap:DeferredTaxAssetsOperatingLossCarryforwardsDomestic>
<us-gaap:DeferredTaxAssetsOperatingLossCarryforwards contextRef="AsOf2022-06-30_custom_TwoThousandThirtySevenMember" decimals="0" unitRef="USD"> 14697000 </us-gaap:DeferredTaxAssetsOperatingLossCarryforwards>
<us-gaap:DeferredTaxAssetsOperatingLossCarryforwards contextRef="AsOf2022-06-30_custom_TwoThousandSeventeenNOLsMember" decimals="0" unitRef="USD"> 20314000 </us-gaap:DeferredTaxAssetsOperatingLossCarryforwards>
<us-gaap:EffectiveIncomeTaxRateReconciliationTaxSettlements contextRef="From2021-07-01to2022-06-30" decimals="INF" unitRef="Pure"> 0.80 </us-gaap:EffectiveIncomeTaxRateReconciliationTaxSettlements>
<us-gaap:SegmentReportingDisclosureTextBlock contextRef="From2021-07-01to2022-06-30">
<p id="xdx_80F_eus-gaap--SegmentReportingDisclosureTextBlock_zmRWObvip6Bj" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 14 - <span id="xdx_829_zAuMsqxqG3wb">SEGMENT INFORMATION</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company operates in <span id="xdx_907_eus-gaap--NumberOfReportableSegments_pid_dc_uSegments_c20210701__20220630_zGMe6hKH7Egd" title="Number of reportable segments">two</span> reportable segments, the operation of the Hotel (“Hotel Operations”) and the investment of its cash in marketable securities and other investments (“Investment Transactions”). These two operating segments, as presented in the consolidated financial statements, reflect how management internally reviews each segment’s performance. Management also makes operational and strategic decisions based on this same information.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89E_eus-gaap--ScheduleOfSegmentReportingInformationBySegmentTextBlock_zzrgtzwFQkej" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Information below represents reporting segments for the years ended June 30, 2022 and 2021, respectively. Segment loss from Hotel operations consists of the operation of the Hotel and operation of the garage. Income (loss) from investments consists of net investment gain (loss), dividend and interest income and investment related expenses.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B5_za2cebEQcBsh" style="display: none">SCHEDULE OF SEGMENT REPORTING INFORMATION, BY SEGMENT</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold">As of and for the year</td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_498_20210701__20220630__us-gaap--StatementBusinessSegmentsAxis__custom--HotelOperationsMember_zGxaZJlEHSVf" style="font-weight: bold; text-align: center">Hotel</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_490_20210701__20220630__us-gaap--StatementBusinessSegmentsAxis__custom--InvestmentTransactionsMember_zgb5KCAmnjP4" style="font-weight: bold; text-align: center">Investment</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_498_20210701__20220630__us-gaap--StatementBusinessSegmentsAxis__custom--OtherMember_z3P6X9piE2si" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49A_20210701__20220630_zxvcYx60Oew5" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">ended June 30, 2022</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Operations</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Transactions</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Other</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zOGJVuMf13B5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%">Revenues</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">31,534,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1172">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1173">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">31,534,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OperatingExpenses_iN_pp0p0" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Segment operating expenses</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(27,451,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1177">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,130,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(28,581,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_407_ecustom--SegmentOperatingIncomeLoss_zhEqyLbTlpR4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Segment income (loss)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,083,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1182">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,130,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,953,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--InterestExpenseDebt_iN_pp0p0_di_zUbQDvTzHiK9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Interest expense - mortgage</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(6,549,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1187">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1188">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(6,549,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--InterestExpenseRelatedParty_iN_pp0p0_di_zhez0pid4Bl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Interest expense – related party</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,375,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1192">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1193">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,375,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--GainsLossesOnExtinguishmentOfDebt_zWSXcaTE9tj6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Gain on debt forgiveness</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,000,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DepreciationAndAmortization_iN_pp0p0_di_zUahA0d6eosi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Depreciation and amortization expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,209,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1202">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1203">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,209,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--IncomeLossFromEquityMethodInvestments_ztaiDEstyJGd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Loss from investments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1206">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,243,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1208">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,243,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--InterestExpense_iN_di_zY7DiwtzIGy8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Income tax expense</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1211">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1212">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(142,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(142,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--ProfitLoss_zihpxpQ1M0Ce" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Net loss</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(4,050,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(1,243,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(1,272,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(6,565,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--Assets_iE_pp0p0_c20210701__20220630__us-gaap--StatementBusinessSegmentsAxis__custom--HotelOperationsMember_zjg2geunQNJd" style="border-bottom: Black 2.5pt double; text-align: right" title="Total assets">40,810,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--Assets_iE_pp0p0_c20210701__20220630__us-gaap--StatementBusinessSegmentsAxis__custom--InvestmentTransactionsMember_zervBn5YEbH" style="border-bottom: Black 2.5pt double; text-align: right" title="Total assets">541,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--Assets_iE_pp0p0_c20210701__20220630__us-gaap--StatementBusinessSegmentsAxis__custom--OtherMember_zO1FaQlBuYCl" style="border-bottom: Black 2.5pt double; text-align: right" title="Total assets">8,448,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--Assets_iE_pp0p0_c20210701__20220630_zBJgHAc2FcP" style="border-bottom: Black 2.5pt double; text-align: right" title="Total assets">49,799,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold">As of and for the year</td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_490_20200701__20210630__us-gaap--StatementBusinessSegmentsAxis__custom--HotelOperationsMember_zZqmUr7Ygot9" style="font-weight: bold; text-align: center">Hotel</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_492_20200701__20210630__us-gaap--StatementBusinessSegmentsAxis__custom--InvestmentTransactionsMember_zlnWUlKZBAZ3" style="font-weight: bold; text-align: center">Investment</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_493_20200701__20210630__us-gaap--StatementBusinessSegmentsAxis__custom--OtherMember_znPnXds8yW98" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49B_20200701__20210630_znqDBxpJWEp7" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">ended June 30, 2021</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Operations</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Transactions</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Other</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_z7vPzrwhy8Y4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%">Revenues</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">14,668,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1230">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1231">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">14,668,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OperatingExpenses_iN_pp0p0_di_zeCAnr3pS2ed" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Segment operating expenses</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(17,911,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1235">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(796,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(18,707,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_40F_ecustom--SegmentOperatingIncomeLoss_z7Kx2pnOA9yh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Segment loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,243,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1240">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(796,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,039,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_ecustom--SegmentOperatingIncomeLoss_zryF4dwfHdqe" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Segment income (loss)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,243,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1245">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(796,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,039,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--InterestExpenseDebt_iN_pp0p0_di_zd86K0JXbEld" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Interest expense – mortgage</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(6,710,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1250">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1251">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(6,710,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--InterestExpenseRelatedParty_iN_pp0p0_di_zHtfZXIStN1k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Interest expense – related party</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(572,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1255">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1256">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(572,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--GainLossOnSaleOfOtherAssets_z6WTmpcA47Pc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Gain on disposal of asset</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1260">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1261">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--GainsLossesOnExtinguishmentOfDebt_zcLBRlbVBoK" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Gain on debt forgiveness</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,719,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1265">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1266">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,719,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--GainsLossesOnExtinguishmentOfDebt_zTH7K9fgBC04" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Gain on debt forgiveness</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,719,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1270">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1271">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,719,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--DepreciationAndAmortization_iN_pp0p0_di_zRfixsEXOHhl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Depreciation and amortization expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,079,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1275">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1276">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,079,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--IncomeLossFromEquityMethodInvestments_ztJRJTkK8kgi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Gain from investments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1279">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,237,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1281">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,237,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--IncomeLossFromEquityMethodInvestments_zMagpr7bGSnc" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Income (loss) from investments  </span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1284">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,237,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1286">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,237,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--IncomeTaxExpenseBenefit_iN_pp0p0_di_zJhztoaXmZqb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Income tax benefit</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1289">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1290">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,146,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,146,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--ProfitLoss_z0VudZVuemx8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Net income (loss)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(7,873,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,237,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,350,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(5,286,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--Assets_iE_c20200701__20210630__us-gaap--StatementBusinessSegmentsAxis__custom--HotelOperationsMember_zwlmBNDH1PVi" style="border-bottom: Black 2.5pt double; text-align: right" title="Total assets">40,367,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--Assets_iE_c20200701__20210630__us-gaap--StatementBusinessSegmentsAxis__custom--InvestmentTransactionsMember_zGU6z90q1p1b" style="border-bottom: Black 2.5pt double; text-align: right" title="Total assets">3,556,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--Assets_iE_c20200701__20210630__us-gaap--StatementBusinessSegmentsAxis__custom--OtherMember_zX3qaDInhES7" style="border-bottom: Black 2.5pt double; text-align: right" title="Total assets">8,628,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--Assets_iE_c20200701__20210630_zsP7hLX6oGC4" style="border-bottom: Black 2.5pt double; text-align: right" title="Total assets">52,551,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A6_zVuNZp940EAe" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
</us-gaap:SegmentReportingDisclosureTextBlock>
<us-gaap:NumberOfReportableSegments contextRef="From2021-07-01to2022-06-30" decimals="INF" unitRef="Segments"> 2 </us-gaap:NumberOfReportableSegments>
<us-gaap:ScheduleOfSegmentReportingInformationBySegmentTextBlock contextRef="From2021-07-01to2022-06-30">
<p id="xdx_89E_eus-gaap--ScheduleOfSegmentReportingInformationBySegmentTextBlock_zzrgtzwFQkej" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Information below represents reporting segments for the years ended June 30, 2022 and 2021, respectively. Segment loss from Hotel operations consists of the operation of the Hotel and operation of the garage. Income (loss) from investments consists of net investment gain (loss), dividend and interest income and investment related expenses.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B5_za2cebEQcBsh" style="display: none">SCHEDULE OF SEGMENT REPORTING INFORMATION, BY SEGMENT</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold">As of and for the year</td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_498_20210701__20220630__us-gaap--StatementBusinessSegmentsAxis__custom--HotelOperationsMember_zGxaZJlEHSVf" style="font-weight: bold; text-align: center">Hotel</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_490_20210701__20220630__us-gaap--StatementBusinessSegmentsAxis__custom--InvestmentTransactionsMember_zgb5KCAmnjP4" style="font-weight: bold; text-align: center">Investment</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_498_20210701__20220630__us-gaap--StatementBusinessSegmentsAxis__custom--OtherMember_z3P6X9piE2si" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49A_20210701__20220630_zxvcYx60Oew5" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">ended June 30, 2022</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Operations</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Transactions</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Other</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zOGJVuMf13B5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%">Revenues</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">31,534,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1172">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1173">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">31,534,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OperatingExpenses_iN_pp0p0" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Segment operating expenses</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(27,451,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1177">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,130,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(28,581,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_407_ecustom--SegmentOperatingIncomeLoss_zhEqyLbTlpR4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Segment income (loss)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,083,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1182">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,130,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,953,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--InterestExpenseDebt_iN_pp0p0_di_zUbQDvTzHiK9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Interest expense - mortgage</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(6,549,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1187">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1188">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(6,549,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--InterestExpenseRelatedParty_iN_pp0p0_di_zhez0pid4Bl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Interest expense – related party</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,375,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1192">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1193">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,375,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--GainsLossesOnExtinguishmentOfDebt_zWSXcaTE9tj6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Gain on debt forgiveness</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,000,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DepreciationAndAmortization_iN_pp0p0_di_zUahA0d6eosi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Depreciation and amortization expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,209,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1202">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1203">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,209,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--IncomeLossFromEquityMethodInvestments_ztaiDEstyJGd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Loss from investments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1206">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,243,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1208">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,243,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--InterestExpense_iN_di_zY7DiwtzIGy8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Income tax expense</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1211">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1212">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(142,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(142,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--ProfitLoss_zihpxpQ1M0Ce" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Net loss</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(4,050,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(1,243,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(1,272,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(6,565,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--Assets_iE_pp0p0_c20210701__20220630__us-gaap--StatementBusinessSegmentsAxis__custom--HotelOperationsMember_zjg2geunQNJd" style="border-bottom: Black 2.5pt double; text-align: right" title="Total assets">40,810,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--Assets_iE_pp0p0_c20210701__20220630__us-gaap--StatementBusinessSegmentsAxis__custom--InvestmentTransactionsMember_zervBn5YEbH" style="border-bottom: Black 2.5pt double; text-align: right" title="Total assets">541,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--Assets_iE_pp0p0_c20210701__20220630__us-gaap--StatementBusinessSegmentsAxis__custom--OtherMember_zO1FaQlBuYCl" style="border-bottom: Black 2.5pt double; text-align: right" title="Total assets">8,448,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--Assets_iE_pp0p0_c20210701__20220630_zBJgHAc2FcP" style="border-bottom: Black 2.5pt double; text-align: right" title="Total assets">49,799,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold">As of and for the year</td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_490_20200701__20210630__us-gaap--StatementBusinessSegmentsAxis__custom--HotelOperationsMember_zZqmUr7Ygot9" style="font-weight: bold; text-align: center">Hotel</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_492_20200701__20210630__us-gaap--StatementBusinessSegmentsAxis__custom--InvestmentTransactionsMember_zlnWUlKZBAZ3" style="font-weight: bold; text-align: center">Investment</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_493_20200701__20210630__us-gaap--StatementBusinessSegmentsAxis__custom--OtherMember_znPnXds8yW98" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49B_20200701__20210630_znqDBxpJWEp7" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">ended June 30, 2021</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Operations</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Transactions</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Other</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_z7vPzrwhy8Y4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%">Revenues</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">14,668,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1230">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1231">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">14,668,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OperatingExpenses_iN_pp0p0_di_zeCAnr3pS2ed" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Segment operating expenses</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(17,911,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1235">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(796,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(18,707,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_40F_ecustom--SegmentOperatingIncomeLoss_z7Kx2pnOA9yh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Segment loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,243,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1240">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(796,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,039,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_ecustom--SegmentOperatingIncomeLoss_zryF4dwfHdqe" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Segment income (loss)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,243,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1245">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(796,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,039,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--InterestExpenseDebt_iN_pp0p0_di_zd86K0JXbEld" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Interest expense – mortgage</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(6,710,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1250">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1251">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(6,710,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--InterestExpenseRelatedParty_iN_pp0p0_di_zHtfZXIStN1k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Interest expense – related party</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(572,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1255">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1256">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(572,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--GainLossOnSaleOfOtherAssets_z6WTmpcA47Pc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Gain on disposal of asset</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1260">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1261">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--GainsLossesOnExtinguishmentOfDebt_zcLBRlbVBoK" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Gain on debt forgiveness</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,719,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1265">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1266">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,719,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--GainsLossesOnExtinguishmentOfDebt_zTH7K9fgBC04" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Gain on debt forgiveness</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,719,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1270">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1271">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,719,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--DepreciationAndAmortization_iN_pp0p0_di_zRfixsEXOHhl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Depreciation and amortization expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,079,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1275">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1276">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,079,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--IncomeLossFromEquityMethodInvestments_ztJRJTkK8kgi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Gain from investments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1279">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,237,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1281">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,237,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--IncomeLossFromEquityMethodInvestments_zMagpr7bGSnc" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Income (loss) from investments  </span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1284">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,237,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1286">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,237,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--IncomeTaxExpenseBenefit_iN_pp0p0_di_zJhztoaXmZqb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Income tax benefit</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1289">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1290">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,146,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,146,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--ProfitLoss_z0VudZVuemx8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Net income (loss)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(7,873,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,237,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,350,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(5,286,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--Assets_iE_c20200701__20210630__us-gaap--StatementBusinessSegmentsAxis__custom--HotelOperationsMember_zwlmBNDH1PVi" style="border-bottom: Black 2.5pt double; text-align: right" title="Total assets">40,367,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--Assets_iE_c20200701__20210630__us-gaap--StatementBusinessSegmentsAxis__custom--InvestmentTransactionsMember_zGU6z90q1p1b" style="border-bottom: Black 2.5pt double; text-align: right" title="Total assets">3,556,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--Assets_iE_c20200701__20210630__us-gaap--StatementBusinessSegmentsAxis__custom--OtherMember_zX3qaDInhES7" style="border-bottom: Black 2.5pt double; text-align: right" title="Total assets">8,628,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--Assets_iE_c20200701__20210630_zsP7hLX6oGC4" style="border-bottom: Black 2.5pt double; text-align: right" title="Total assets">52,551,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>
</us-gaap:ScheduleOfSegmentReportingInformationBySegmentTextBlock>
<us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax contextRef="From2021-07-012022-06-30_custom_HotelOperationsMember" decimals="0" unitRef="USD"> 31534000 </us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
<us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax contextRef="From2021-07-01to2022-06-30" decimals="0" unitRef="USD"> 31534000 </us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
<us-gaap:OperatingExpenses contextRef="From2021-07-012022-06-30_custom_HotelOperationsMember" decimals="0" unitRef="USD"> -27451000 </us-gaap:OperatingExpenses>
<us-gaap:OperatingExpenses contextRef="From2021-07-012022-06-30_custom_OtherMember" decimals="0" unitRef="USD"> -1130000 </us-gaap:OperatingExpenses>
<us-gaap:OperatingExpenses contextRef="From2021-07-01to2022-06-30" decimals="0" unitRef="USD"> -28581000 </us-gaap:OperatingExpenses>
<PRSI:SegmentOperatingIncomeLoss contextRef="From2021-07-012022-06-30_custom_HotelOperationsMember" decimals="0" unitRef="USD"> 4083000 </PRSI:SegmentOperatingIncomeLoss>
<PRSI:SegmentOperatingIncomeLoss contextRef="From2021-07-012022-06-30_custom_OtherMember" decimals="0" unitRef="USD"> -1130000 </PRSI:SegmentOperatingIncomeLoss>
<PRSI:SegmentOperatingIncomeLoss contextRef="From2021-07-01to2022-06-30" decimals="0" unitRef="USD"> 2953000 </PRSI:SegmentOperatingIncomeLoss>
<us-gaap:InterestExpenseDebt contextRef="From2021-07-012022-06-30_custom_HotelOperationsMember" decimals="0" unitRef="USD"> 6549000 </us-gaap:InterestExpenseDebt>
<us-gaap:InterestExpenseDebt contextRef="From2021-07-01to2022-06-30" decimals="0" unitRef="USD"> 6549000 </us-gaap:InterestExpenseDebt>
<us-gaap:InterestExpenseRelatedParty contextRef="From2021-07-012022-06-30_custom_HotelOperationsMember" decimals="0" unitRef="USD"> 1375000 </us-gaap:InterestExpenseRelatedParty>
<us-gaap:InterestExpenseRelatedParty contextRef="From2021-07-01to2022-06-30" decimals="0" unitRef="USD"> 1375000 </us-gaap:InterestExpenseRelatedParty>
<us-gaap:GainsLossesOnExtinguishmentOfDebt contextRef="From2021-07-012022-06-30_custom_HotelOperationsMember" decimals="0" unitRef="USD"> 2000000 </us-gaap:GainsLossesOnExtinguishmentOfDebt>
<us-gaap:GainsLossesOnExtinguishmentOfDebt contextRef="From2021-07-01to2022-06-30" decimals="0" unitRef="USD"> 2000000 </us-gaap:GainsLossesOnExtinguishmentOfDebt>
<us-gaap:DepreciationAndAmortization contextRef="From2021-07-012022-06-30_custom_HotelOperationsMember" decimals="0" unitRef="USD"> 2209000 </us-gaap:DepreciationAndAmortization>
<us-gaap:DepreciationAndAmortization contextRef="From2021-07-01to2022-06-30" decimals="0" unitRef="USD"> 2209000 </us-gaap:DepreciationAndAmortization>
<us-gaap:IncomeLossFromEquityMethodInvestments contextRef="From2021-07-012022-06-30_custom_InvestmentTransactionsMember" decimals="0" unitRef="USD"> -1243000 </us-gaap:IncomeLossFromEquityMethodInvestments>
<us-gaap:IncomeLossFromEquityMethodInvestments contextRef="From2021-07-01to2022-06-30" decimals="0" unitRef="USD"> -1243000 </us-gaap:IncomeLossFromEquityMethodInvestments>
<us-gaap:InterestExpense contextRef="From2021-07-012022-06-30_custom_OtherMember" decimals="0" unitRef="USD"> 142000 </us-gaap:InterestExpense>
<us-gaap:InterestExpense contextRef="From2021-07-01to2022-06-30" decimals="0" unitRef="USD"> 142000 </us-gaap:InterestExpense>
<us-gaap:ProfitLoss contextRef="From2021-07-012022-06-30_custom_HotelOperationsMember" decimals="0" unitRef="USD"> -4050000 </us-gaap:ProfitLoss>
<us-gaap:ProfitLoss contextRef="From2021-07-012022-06-30_custom_InvestmentTransactionsMember" decimals="0" unitRef="USD"> -1243000 </us-gaap:ProfitLoss>
<us-gaap:ProfitLoss contextRef="From2021-07-012022-06-30_custom_OtherMember" decimals="0" unitRef="USD"> -1272000 </us-gaap:ProfitLoss>
<us-gaap:ProfitLoss contextRef="From2021-07-01to2022-06-30" decimals="0" unitRef="USD"> -6565000 </us-gaap:ProfitLoss>
<us-gaap:Assets contextRef="AsOf2022-06-30_custom_HotelOperationsMember" decimals="0" unitRef="USD"> 40810000 </us-gaap:Assets>
<us-gaap:Assets contextRef="AsOf2022-06-30_custom_InvestmentTransactionsMember" decimals="0" unitRef="USD"> 541000 </us-gaap:Assets>
<us-gaap:Assets contextRef="AsOf2022-06-30_custom_OtherMember" decimals="0" unitRef="USD"> 8448000 </us-gaap:Assets>
<us-gaap:Assets contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 49799000 </us-gaap:Assets>
<us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax contextRef="From2020-07-012021-06-30_custom_HotelOperationsMember" decimals="0" unitRef="USD"> 14668000 </us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
<us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> 14668000 </us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
<us-gaap:OperatingExpenses contextRef="From2020-07-012021-06-30_custom_HotelOperationsMember" decimals="0" unitRef="USD"> 17911000 </us-gaap:OperatingExpenses>
<us-gaap:OperatingExpenses contextRef="From2020-07-012021-06-30_custom_OtherMember" decimals="0" unitRef="USD"> 796000 </us-gaap:OperatingExpenses>
<us-gaap:OperatingExpenses contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> 18707000 </us-gaap:OperatingExpenses>
<PRSI:SegmentOperatingIncomeLoss contextRef="From2020-07-012021-06-30_custom_HotelOperationsMember" decimals="0" unitRef="USD"> -3243000 </PRSI:SegmentOperatingIncomeLoss>
<PRSI:SegmentOperatingIncomeLoss contextRef="From2020-07-012021-06-30_custom_OtherMember" decimals="0" unitRef="USD"> -796000 </PRSI:SegmentOperatingIncomeLoss>
<PRSI:SegmentOperatingIncomeLoss contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> -4039000 </PRSI:SegmentOperatingIncomeLoss>
<PRSI:SegmentOperatingIncomeLoss contextRef="From2020-07-012021-06-30_custom_HotelOperationsMember" decimals="0" unitRef="USD"> -3243000 </PRSI:SegmentOperatingIncomeLoss>
<PRSI:SegmentOperatingIncomeLoss contextRef="From2020-07-012021-06-30_custom_OtherMember" decimals="0" unitRef="USD"> -796000 </PRSI:SegmentOperatingIncomeLoss>
<PRSI:SegmentOperatingIncomeLoss contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> -4039000 </PRSI:SegmentOperatingIncomeLoss>
<us-gaap:InterestExpenseDebt contextRef="From2020-07-012021-06-30_custom_HotelOperationsMember" decimals="0" unitRef="USD"> 6710000 </us-gaap:InterestExpenseDebt>
<us-gaap:InterestExpenseDebt contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> 6710000 </us-gaap:InterestExpenseDebt>
<us-gaap:InterestExpenseRelatedParty contextRef="From2020-07-012021-06-30_custom_HotelOperationsMember" decimals="0" unitRef="USD"> 572000 </us-gaap:InterestExpenseRelatedParty>
<us-gaap:InterestExpenseRelatedParty contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> 572000 </us-gaap:InterestExpenseRelatedParty>
<us-gaap:GainLossOnSaleOfOtherAssets contextRef="From2020-07-012021-06-30_custom_HotelOperationsMember" decimals="0" unitRef="USD"> 12000 </us-gaap:GainLossOnSaleOfOtherAssets>
<us-gaap:GainLossOnSaleOfOtherAssets contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> 12000 </us-gaap:GainLossOnSaleOfOtherAssets>
<us-gaap:GainsLossesOnExtinguishmentOfDebt contextRef="From2020-07-012021-06-30_custom_HotelOperationsMember" decimals="0" unitRef="USD"> 4719000 </us-gaap:GainsLossesOnExtinguishmentOfDebt>
<us-gaap:GainsLossesOnExtinguishmentOfDebt contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> 4719000 </us-gaap:GainsLossesOnExtinguishmentOfDebt>
<us-gaap:GainsLossesOnExtinguishmentOfDebt contextRef="From2020-07-012021-06-30_custom_HotelOperationsMember" decimals="0" unitRef="USD"> 4719000 </us-gaap:GainsLossesOnExtinguishmentOfDebt>
<us-gaap:GainsLossesOnExtinguishmentOfDebt contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> 4719000 </us-gaap:GainsLossesOnExtinguishmentOfDebt>
<us-gaap:DepreciationAndAmortization contextRef="From2020-07-012021-06-30_custom_HotelOperationsMember" decimals="0" unitRef="USD"> 2079000 </us-gaap:DepreciationAndAmortization>
<us-gaap:DepreciationAndAmortization contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> 2079000 </us-gaap:DepreciationAndAmortization>
<us-gaap:IncomeLossFromEquityMethodInvestments contextRef="From2020-07-012021-06-30_custom_InvestmentTransactionsMember" decimals="0" unitRef="USD"> 1237000 </us-gaap:IncomeLossFromEquityMethodInvestments>
<us-gaap:IncomeLossFromEquityMethodInvestments contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> 1237000 </us-gaap:IncomeLossFromEquityMethodInvestments>
<us-gaap:IncomeLossFromEquityMethodInvestments contextRef="From2020-07-012021-06-30_custom_InvestmentTransactionsMember" decimals="0" unitRef="USD"> 1237000 </us-gaap:IncomeLossFromEquityMethodInvestments>
<us-gaap:IncomeLossFromEquityMethodInvestments contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> 1237000 </us-gaap:IncomeLossFromEquityMethodInvestments>
<us-gaap:IncomeTaxExpenseBenefit contextRef="From2020-07-012021-06-30_custom_OtherMember" decimals="0" unitRef="USD"> -2146000 </us-gaap:IncomeTaxExpenseBenefit>
<us-gaap:IncomeTaxExpenseBenefit contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> -2146000 </us-gaap:IncomeTaxExpenseBenefit>
<us-gaap:ProfitLoss contextRef="From2020-07-012021-06-30_custom_HotelOperationsMember" decimals="0" unitRef="USD"> -7873000 </us-gaap:ProfitLoss>
<us-gaap:ProfitLoss contextRef="From2020-07-012021-06-30_custom_InvestmentTransactionsMember" decimals="0" unitRef="USD"> 1237000 </us-gaap:ProfitLoss>
<us-gaap:ProfitLoss contextRef="From2020-07-012021-06-30_custom_OtherMember" decimals="0" unitRef="USD"> 1350000 </us-gaap:ProfitLoss>
<us-gaap:ProfitLoss contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> -5286000 </us-gaap:ProfitLoss>
<us-gaap:Assets contextRef="AsOf2021-06-30_custom_HotelOperationsMember" decimals="0" unitRef="USD"> 40367000 </us-gaap:Assets>
<us-gaap:Assets contextRef="AsOf2021-06-30_custom_InvestmentTransactionsMember" decimals="0" unitRef="USD"> 3556000 </us-gaap:Assets>
<us-gaap:Assets contextRef="AsOf2021-06-30_custom_OtherMember" decimals="0" unitRef="USD"> 8628000 </us-gaap:Assets>
<us-gaap:Assets contextRef="AsOf2021-06-30" decimals="0" unitRef="USD"> 52551000 </us-gaap:Assets>
<us-gaap:RelatedPartyTransactionsDisclosureTextBlock contextRef="From2021-07-01to2022-06-30">
<p id="xdx_806_eus-gaap--RelatedPartyTransactionsDisclosureTextBlock_z9jlcJx3Z1Ub" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 15 – <span id="xdx_823_zfQQrvVcs8h2">RELATED PARTY TRANSACTIONS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As discussed in Note 9 – Related Party and Other Financing Transactions, upon the dissolution of Justice in December 2021, Portsmouth assumed Justice’s note payable to InterGroup in the amount of $<span id="xdx_903_eus-gaap--NotesPayableRelatedPartiesClassifiedCurrent_iI_c20211231__dei--LegalEntityAxis__custom--JusticeInvestorsLimitedPartnershipAndIntergroupMember__us-gaap--TypeOfArrangementAxis__custom--LoanModificationAgreementMember_zKiNqwIudBb2" title="Debt instrument, face amount">11,350,000</span>. On December 31, 2021, Portsmouth and InterGroup entered into a loan modification agreement which increased Portsmouth’s borrowing from InterGroup as needed up to $<span id="xdx_904_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--InterGroupCorpMember__us-gaap--TypeOfArrangementAxis__custom--LoanModificationAgreementMember_zsOjd2tdvvQ2" title="Line of credit facility maximum borrowing capacity">16,000,000</span>. The maturity date was extended to <span id="xdx_908_eus-gaap--LineOfCreditFacilityExpirationDate1_c20210701__20220630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--InterGroupCorpMember__us-gaap--TypeOfArrangementAxis__custom--LoanModificationAgreementMember_zgu6z4eorNtj" title="Line of credit facility, expiration date">July 31, 2023</span>. As of June 30, 2022 and 2021, the balance of the loan was $<span id="xdx_900_eus-gaap--DueToRelatedPartiesCurrentAndNoncurrent_iI_c20220630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--InterGroupCorpMember__us-gaap--TypeOfArrangementAxis__custom--LoanModificationAgreementMember_zi5ULEi4qW2i" title="Balance of loans">14,200,000</span> and $<span id="xdx_90A_eus-gaap--DueToRelatedPartiesCurrentAndNoncurrent_iI_c20210630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--InterGroupCorpMember__us-gaap--TypeOfArrangementAxis__custom--LoanModificationAgreementMember_znvc1LAYIhsg" title="Balance of loans">6,650,000</span>, respectively, and are included in the related party notes payable in the consolidated balance sheets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain shared costs and expenses, primarily administrative expenses, rent and insurance are allocated between the Company and InterGroup based on management’s estimate of the pro rata utilization of resources. For the years ended June 30, 2022 and 2021, these expenses were approximately $<span id="xdx_906_eus-gaap--CostsAndExpensesRelatedParty_c20210701__20220630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--InterGroupCorpMember_z1jnOEBozfi1" title="Costs and expenses, related party">144,000</span> and $<span id="xdx_90F_eus-gaap--CostsAndExpensesRelatedParty_c20200701__20210630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--InterGroupCorpMember_zSz8UuBDlSh6" title="Costs and expenses, related party">96,000</span>, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Four of the Company’s Directors serve as directors of InterGroup.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As Chairman of the Executive Strategic Real Estate and Securities Investment Committee 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 President, Chief Executive Officer, and Chairman of InterGroup and oversees the investment activity of InterGroup. Effective June 2016, Mr. Winfield became the Managing Director of Justice. Depending on certain market conditions and various risk factors, the Chief Executive Officer and 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 these related parties because it places the personal resources of the Chief Executive Officer and the resources of InterGroup at risk in substantially the same manner as the Company in connection with investment decisions made on behalf of the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
</us-gaap:RelatedPartyTransactionsDisclosureTextBlock>
<us-gaap:NotesPayableRelatedPartiesClassifiedCurrent contextRef="AsOf2021-12-31_custom_JusticeInvestorsLimitedPartnershipAndIntergroupMember_custom_LoanModificationAgreementMember" decimals="0" unitRef="USD"> 11350000 </us-gaap:NotesPayableRelatedPartiesClassifiedCurrent>
<us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity contextRef="AsOf2021-12-31_custom_InterGroupCorpMember_custom_LoanModificationAgreementMember" decimals="0" unitRef="USD"> 16000000 </us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity>
<us-gaap:LineOfCreditFacilityExpirationDate1 contextRef="From2021-07-012022-06-30_custom_InterGroupCorpMember_custom_LoanModificationAgreementMember"> 2023-07-31 </us-gaap:LineOfCreditFacilityExpirationDate1>
<us-gaap:DueToRelatedPartiesCurrentAndNoncurrent contextRef="AsOf2022-06-30_custom_InterGroupCorpMember_custom_LoanModificationAgreementMember" decimals="0" unitRef="USD"> 14200000 </us-gaap:DueToRelatedPartiesCurrentAndNoncurrent>
<us-gaap:DueToRelatedPartiesCurrentAndNoncurrent contextRef="AsOf2021-06-30_custom_InterGroupCorpMember_custom_LoanModificationAgreementMember" decimals="0" unitRef="USD"> 6650000 </us-gaap:DueToRelatedPartiesCurrentAndNoncurrent>
<us-gaap:CostsAndExpensesRelatedParty contextRef="From2021-07-012022-06-30_custom_InterGroupCorpMember" decimals="0" unitRef="USD"> 144000 </us-gaap:CostsAndExpensesRelatedParty>
<us-gaap:CostsAndExpensesRelatedParty contextRef="From2020-07-012021-06-30_custom_InterGroupCorpMember" decimals="0" unitRef="USD"> 96000 </us-gaap:CostsAndExpensesRelatedParty>
<us-gaap:CommitmentsAndContingenciesDisclosureTextBlock contextRef="From2021-07-01to2022-06-30">
<p id="xdx_80D_eus-gaap--CommitmentsAndContingenciesDisclosureTextBlock_zwLAXGWFgdll" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 16 – <span id="xdx_827_zWDwZAsQNnHl">COMMITMENTS AND CONTINGENCIES</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Cash Management Agreement </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As part of the Hotel refinancing effective December 18, 2013, Operating entered into a Cash Management Agreement with Bank of America, N.A. (“Lender”) and Wells Fargo Bank, N.A. (“Cash Management Bank”) whereby all cash received by Operating is to be deposited into a business checking account controlled by the Cash Management Bank up to the loan maturity date. Additionally, other terms of the Cash Management Agreement provide that effective February 2019 or upon a Property Improvement Plan (“PIP”) requirement by Hilton (“Franchisor”) deemed the “Cash Sweep Period” during which all excess cash generated by Operating beyond the monthly budgeted expenses and debt services including principal and interest, insurance reserves, real estate taxes reserve, furniture fixtures and equipment (“FF&E”) reserves, for the senior and mezzanine loans, will be held by the Cash Management Bank for future hotel improvements as required by the date or a PIP. Currently, any and all funds are being controlled by the Cash Management Bank according to the Cash Management Agreement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Franchise Agreements</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Partnership entered into a Franchise License Agreement (the “License Agreement”) with the HLT Existing Franchise Holding LLC (“Hilton”) on December 10, 2004. The term of the License agreement was for an initial period of <span id="xdx_909_ecustom--LicenseAgreementPeriod_dtY_c20210701__20220630__us-gaap--TypeOfArrangementAxis__custom--FranchiseLicenseAgreementMember_zZkAyBPW9nCi" title="License agreement period">15</span> years commencing on the date the Hotel began operating as a Hilton hotel, with an option to extend the License Agreement for another five years, subject to certain conditions. On June 26, 2015, Operating and Hilton entered into an amended franchise agreement which amongst other things extended the License Agreement through 2030, and also provided the Partnership certain key money cash incentives to be earned through 2030.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Since the opening of the Hotel as a full brand Hilton in January 2006, it has incurred monthly royalties, program fees and information technology recapture charges equal to a percentage of the Hotel’s gross room revenue. Fees for such services during fiscal year 2022 and 2021 totaled approximately $<span id="xdx_903_ecustom--ServiceFees_c20210701__20220630_ztWFRIdqvxVa" title="Service fees">2,107,000</span> and $<span id="xdx_90D_ecustom--ServiceFees_c20200701__20210630_zBybhKAKyXb8" title="Service fees">703,000</span>, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b/></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Hotel Employees</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On February 3, 2017, Aimbridge assumed all labor union agreements and retained employees of their choice to continue providing services to the Hotel. As of June 30, 2022, approximately 86% of those employees were represented by one of three labor unions, and their terms of employment were determined under various collective bargaining agreements (“CBAs”) to which Aimbridge was a party. CBA for Local 2 (Hotel and Restaurant Employees) expired on August 13, 2022 and is currently under review. CBA for Local 856 (International Brotherhood of Teamsters) will expire on December 31, 2022. CBA for Local 39 (Stationary Engineers) will expire on July 31, 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Negotiation of collective bargaining agreements, which includes not just terms and conditions of employment, but scope and coverage of employees, is a regular and expected course of business operations for the Company and Aimbridge. The Company expects and anticipates that the terms of conditions of CBAs will have an impact on wage and benefit costs, operating expenses, and certain hotel operations during the life of each CBA and incorporates these principles into its operating and budgetary practices.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Legal Matters</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Portsmouth Square Inc., through its operating company Justice Investors Operating Co., a Delaware limited liability company (the “Company”), is the owner of the real property located at 750 Kearny Street in San Francisco, currently improved with a 27 – story building which houses a Hilton Hotel (the “Property”). The Property was improved pursuant to approvals granted by the City and County of San Francisco (the “City”) in 1970. Those approvals included a Major Encroachment Permit (“Permit”) by which the Company was authorized to construct an ornamental overhead pedestrian bridge across Kearny Street, connecting the Property to the City park and underground parking garage known as Portsmouth Square (the “Bridge”). The construction of the Bridge was a condition of the City’s approval of the construction of the hotel structure on the Property. Effective on May 24, 2022, the City has revoked the Permit and directed the Company to remove the Bridge at the Company’s expense, including construction management costs and traffic control. Pursuant to a letter dated June 13, 2022, the City’s Department of Public works has specifically directed the “removal of the unpermitted pedestrian bridge and all related physical encroachments in the public right-of-way and on City property” and the submission of a general bridge removal and restoration plan (the “Plan”). The Company disputes the legality of the purported revocation of the Permit. The Company further disputes any obligation to remove the Bridge at its expense. In particular, representatives of the Company have participated in meetings with the City since August 1, 2019, discussing a collaborative process for the possible removal of the Bridge. Until the recent revocation of the Permit, the City representatives have repeatedly and consistently agreed that the City will pay for the associated costs of any Bridge removal. Nevertheless, without waiving any rights, in an effort to understand all of the available options, and to provide a response to the City’s new directives, the Company has engaged a Project Manager, a structural engineering firm and an architect to advise on the process and for the development of a Plan for the Bridge removal, as well as the reconstruction of the front of the Hilton Hotel. The Plan is currently not expected to be completed until early in 2023. At this time, early estimates of the cost of the Plan exceed $<span id="xdx_902_eus-gaap--LossContingencyDamagesSoughtValue_pn5n6_c20220101__20221231_zNjCTUAd9cj2" title="Cost of damages value">2</span> million. The Company is currently considering its options with regard to filing litigation to invalidate the revocation of the Permit so as to preclude removal of the Bridge, and/or to compel the City to honor its commitment to pay for the removal of the Bridge.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company may be subject to legal proceedings, claims, and litigation arising in the ordinary course of business. The Company will defend itself vigorously against any such claims. Management does not believe that the impact of such matters will have a material effect on the financial conditions or result of operations when resolved.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
</us-gaap:CommitmentsAndContingenciesDisclosureTextBlock>
<PRSI:LicenseAgreementPeriod contextRef="From2021-07-012022-06-30_custom_FranchiseLicenseAgreementMember"> P15Y </PRSI:LicenseAgreementPeriod>
<PRSI:ServiceFees contextRef="From2021-07-01to2022-06-30" decimals="0" unitRef="USD"> 2107000 </PRSI:ServiceFees>
<PRSI:ServiceFees contextRef="From2020-07-012021-06-30" decimals="0" unitRef="USD"> 703000 </PRSI:ServiceFees>
<us-gaap:LossContingencyDamagesSoughtValue contextRef="From2022-01-012022-12-31" decimals="-5" unitRef="USD"> 2000000 </us-gaap:LossContingencyDamagesSoughtValue>
<us-gaap:SubsequentEventsTextBlock contextRef="From2021-07-01to2022-06-30">
<p id="xdx_805_eus-gaap--SubsequentEventsTextBlock_znA9oEDEbl7e" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 17 – <span id="xdx_828_zaem1i2SMxj8">SUBSEQUENT EVENTS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">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.</span></p>
</us-gaap:SubsequentEventsTextBlock>
<dei:AuditorFirmId contextRef="From2020-07-012021-06-30"> 659 </dei:AuditorFirmId>
</xbrl>

3 Previous Filings that this Filing References

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 8/31/18  Portsmouth Square Inc.            10-K        6/30/18   78:13M                                    Toppan Merrill/FA
10/13/17  Portsmouth Square Inc.            10-K        6/30/17   74:9.9M                                   Toppan Merrill/FA
 8/24/12  Portsmouth Square Inc.            10-K/A      6/30/11    7:702K                                   Toppan Merrill/FA
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Filing Submission 0001493152-22-027008   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)
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