Company: INTG
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010724
Chunk: 108

Company: INTERGROUP CORP
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 2
Chunk 108
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,000  
     63,000 
  
    Trading and management
    expenses 
     (317,000) 
     (430,000)
  
    Net
    loss from investment transactions 
    $(1,379,000) 
    $(1,178,000)

-25-

    For the nine months ended March 31, 
    2025  
    2024 

    Net (loss) gain on marketable securities 
    $(1,566,000) 
    $164,000 
  
    Dividend and interest income 
     156,000  
     333,000 
  
    Trading and management expenses 
     (978,000) 
     (1,133,000)
  
    Net loss from investment transactions 
    $(2,388,000) 
    $(636,000)

FINANCIAL
CONDITION AND LIQUIDITY

As
of March 31, 2025, the Company had total cash, cash equivalents, and restricted cash of $13,394,000, compared to $8,694,000 as of June
30, 2024. The Company also held marketable securities, net of margin balances, of $751,000, compared to $7,266,000 at June 30, 2024.
These marketable securities are short-term and considered readily convertible to cash.

Related
Party Credit Facility – InterGroup

Portsmouth
continues to rely on a related party revolving credit facility with its parent company, InterGroup to support hotel operations and liquidity
needs. This unsecured facility, originally entered into in 2014 and subsequently modified, has undergone several amendments over time.

Key
modifications include:

●December
                                            2021: Portsmouth assumed $11.35 million in outstanding debt upon the dissolution of Justice
                                            Investors L.P.

●July
                                            2023: Increased available borrowings to $20,000,000 and extended maturity to July 31, 2025
                                            with a 0.5% loan modification fee.

●March
                                            2024: Increased available borrowings to $30,000,000 with a 0.5% loan modification fee

●March
                                            2025: Further increased available borrowing capacity to $40,000,000 and extended the maturity
                                            to July 31, 2027.

The
facility bears 12% annual interest, is interest-only, and may