Company: INTG
Filing Date: 2025-09-30
Form Type: 10-K
Source: 0001493152-25-016154
Chunk: 287

Company: INTERGROUP CORP
Filing Date: 2025-09-30
Form: 10-K
Item: Item 8
Chunk 287
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 is considered probable within 1 one year.

Accordingly,
the Company concluded that the criteria in ASC 360-10-45-9 were met in the fourth quarter of fiscal 2025 and classified the asset as
“Assets held for sale” as of June 30, 2025. Upon classification, the asset was measured at the carrying amount. No impairment
charge was recognized in connection with the classification upon classification, as the carrying amount did not exceed its estimated
fair value less costs to sell. Property taxes for the year ended June 30, 2025 were approximately $25,000.

The
related mortgage (outstanding balance $1,863,000 at 3.59% fixed; maturity June 23, 2026) will be settled at closing and is not included
in liabilities held for sale; it continues to be presented within mortgage notes payable.

Assets
held for sale totaled $1,029,000 at June 30, 2025. (Amount reflects the carrying value of the Los Angeles 12-unit property at the date
of classification April 2025.)

SCHEDULE
OF ASSETS HELD FOR SALE

    June 30, 2025 
  
    Cash 
    $8,000 
  
    Restricted cash 
     45,000 
  
    Accounts receivable 
     4,000 
  
    Investment in real estate 
     963,000 
  
    Other assets 
     9,000 
  
    Total assets held for sale 
    $1,029,000 

Management
will continue to evaluate facts and circumstances each reporting period and will recognize any loss if the carrying value exceeds fair
value less cost to sell.

NOTE
19 – SUBSEQUENT EVENTS

The
Company evaluated subsequent events through the date that the accompanying financial statements were issued, and has determined that
no other material subsequent events that require adjustment to or disclosure in the financial statements exist through the date of this
filing, except as disclosed below.

Regaining
Nasdaq Listing Compliance

On
September 17, 2025, the Company received confirmation from Nasdaq that the Company has regained compliance with Listing Rule 5550(b)(2).
Nasdaq’s notice stated that, as of September 15, 2025, the Company had demonstrated 11 consecutive business days with a market
value of listed securities above $35
million, thereby satisfying the requirement. As a result, the
Panel granted the Company’s request