Company: INTG
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010724
Chunk: 79

Company: INTERGROUP CORP
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 79
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 John V. Winfield, William J. Nance, John C. Love, Yvonne Murphy,
and Steve Grunwald. Mr. Winfield is Chairman of the Board and Chief Executive Officer of both Portsmouth and InterGroup. He served as
Managing Director of Justice until its dissolution in December 2021.

Portsmouth
encourages investments by its CEO and InterGroup in the same companies in which Portsmouth invests, as such alignment of interests places
personal and affiliate capital at risk alongside Company capital.

NOTE
12 – ACCOUNTS PAYABLE AND OTHER LIABILITIES

The
following summarizes the balances of accounts payable and other liabilities as of March 31, 2025 and June 30, 2024:

SCHEDULE
OF ACCOUNTS PAYABLE AND OTHER LIABILITIES 

    As
    of 
    March
    31, 2025  
    June
    30, 2024 
  
    Trade payable 
    $2,084,000  
    $2,999,000 
  
    Advance deposits 
     504,000  
     557,000 
  
    Property tax payable 
     361,000  
     563,000 
  
    Payroll and related accruals 
     3,269,000  
     3,183,000 
  
    Mortgage interest payable 
     2,406,000  
     3,930,000 
  
    Withholding and other taxes payable 
     1,355,000  
     1,382,000 
  
    Security deposit 
     1,011,000  
     952,000 
  
    Franchise fees 
     1,278,000  
     1,418,000 
  
    Management fees payable 
     423,000  
     2,688,000 
  
    Other 
     374,000  
     350,000 
  
    Total
    accounts payable and other liabilities 
    $13,065,000  
    $18,022,000 

NOTE
13 – SUBSEQUENT EVENTS

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

-20-

Item
2 – MANAGEMENT’S DISCUSSION AND ANALYSIS