Company: INTG
Filing Date: 2025-09-30
Form Type: 10-K
Source: 0001493152-25-016154
Chunk: 150

Company: INTERGROUP CORP
Filing Date: 2025-09-30
Form: 10-K
Item: Item 7A
Chunk 150
---
    Cash, cash equivalents and restricted cash at the end of the year 
    $15,195,000  
    $8,694,000 
  
    Supplemental information: 

    Income taxes paid 
    $142,000  
    $130,000 
  
    Interest paid 
    $12,366,000  
    $6,081,000 

Supplemental
Disclosure – Reconciliation of Cash, Cash Equivalents, and Restricted Cash

    Cash, cash equivalents and restricted cash 
    $15,142,000 
  
    Cash included in assets held for sale 
     53,000 
  
    Total cash, cash equivalents, and restricted cash 
    $15,195,000 

The
Company had cash and cash equivalents of $5,092,000 (including $8,000 classified as held for sale) and $4,333,000 as of June 30, 2025
and 2024, respectively. The Company had restricted cash of $10,103,000 (including $45,000 classified as held for sale) and $4,361,000
as of June 30, 2025 and 2024, respectively.

Cash
flows associated with the Los Angeles property classified as held for sale are included within the respective operating, investing, and
financing activities of continuing operations in the consolidated statements of cash flows.

The
accompanying notes are an integral part of these consolidated financial statements.

38

THE
INTERGROUP CORPORATION

NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS

JUNE
30, 2025

NOTE
1 - BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES AND PRACTICES

Description
of the Business

The
InterGroup Corporation, a Delaware corporation, (“InterGroup” or the “Company”) was formed to buy, develop, operate
and dispose of real property and to engage in various investment activities to benefit the Company and its shareholders.

Effective
February 19, 2021, the Company’s 83.7% owned subsidiary, Santa Fe Financial Corporation (“Santa Fe”), a public company
(OTC: SFEF), was liquidated and all of its assets including its 68.8% interest in Portsmouth Square, Inc. (“Portsmouth”),
a public company (OTC: PRSI) were distributed to its shareholders in exchange for their Santa Fe common stock. In June 2022, InterGroup