Company: INTG
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010724
Chunk: 24

Company: INTERGROUP CORP
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 24
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 amounts shown in the condensed consolidated statement of cash flows:

SCHEDULE OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH 

    As of 
    March
    31, 2025  
    June
    30, 2024 
  
    Cash and cash
    equivalents 
    $4,017,000  
    $4,333,000 
  
    Restricted
    cash 
     9,377,000  
     4,361,000 
  
    Total cash, cash equivalents,
    and restricted cash shown in the condensed consolidated statements of cash flows 
    $13,394,000  
    $8,694,000 

Restricted
cash is comprised of amounts held by lenders for payment of real estate taxes, insurance, replacement and capital addition reserves for
the Hotel and real estate properties.

NOTE
9 – STOCK BASED COMPENSATION PLANS

The
Company follows Accounting Standard Codification (ASC) Topic 718 “Compensation – Stock Compensation”, which addresses
accounting for equity-based compensation arrangements, including employee stock options and restricted stock units.

Please
refer to Note 15 – Stock Based Compensation Plans in the Company’s Form 10-K for the year ended June 30, 2024 for more detailed
information on the Company’s stock-based compensation plans.

On
October 13, 2023, the Compensation Committee awarded 18,000 stock options to the Company’s Chief Operating Officer David C. Gonzalez,
to purchase up to 18,000 shares of common stock. The exercise price of the options is $28.90 which was the fair market value of the Company’s
Common Stock as reported on NASDAQ closing on October 12, 2023. The options expire in ten years from the date of grant. Pursuant to the
time vesting requirements, the options vest over a period of three years, with 6,000 options vesting upon each on year anniversary of
the date of grant.

On
December 21, 2023, the Company extended the expiration date of the 133,195 stock options originally issued to John V. Winfield, CEO on
December 26, 2013 with an exercise price of $18.65. The original expiration date was December 26, 2023 and is extended to December 26,
2029. As a result of extending Mr. Winfield’s options, the Company recorded stock option compensation cost