Company: INTG
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001493152-25-006758
Chunk: 72

Company: INTERGROUP CORP
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 8
Chunk 72
---
000) 
     (1,373,000) 
     -  
     -  
     (3,084,000)
  
    Gain
    from investments 
     -  
     -  
     542,000  
     -  
     542,000 
  
    Gain
    (loss) from investments 
     -  
     -  
     542,000  
     -  
     542,000 

    Income
    tax expense 
     -  
     -  
     -  
     (104,000) 
     (104,000)
  
    Net
    (loss) income 
    $(2,284,000) 
    $722,000  
    $542,000  
    $(2,753,000) 
    $(3,773,000)
  
    Total
    assets 
    $46,096,000  
    $48,184,000  
    $19,363,000  
    $10,543,000  
    $124,186,000 

    -17-

NOTE
11 – RELATED PARTY AND OTHER FINANCING TRANSACTIONS

The
following summarizes the balances of other notes payable as of December 31, 2024 and June 30, 2024, respectively:

 SCHEDULE
OF RELATED PARTY AND OTHER FINANCING TRANSACTIONS

    As of 
    December
    31,2024  
    June
    30, 2024 
  
    Other note payable - Hilton 
    $                       1,742,000  
    $1,742,000 
  
    Other note payable - Aimbridge 
     521,000  
     646,000 
  
    Total
    related party and other notes payable 
    $2,263,000  
    $2,388,000 

Note
payable to Hilton (Franchisor) is a self-exhausting, interest free development incentive note which is reduced by approximately $316,000
annually through 2030 by Hilton if the Company is still a Franchisee with Hilton.

On
February 1, 2017, Operating entered into a HMA with Ambridge to manage the Hotel with an effective takeover date of February 3, 2017.
The term