Company: INTG
Filing Date: 2025-09-30
Form Type: 10-K
Source: 0001493152-25-016154
Chunk: 47

Company: INTERGROUP CORP
Filing Date: 2025-09-30
Form: 10-K
Item: Item 1
Chunk 47
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”). The availability of this facility depends on InterGroup’s own cash, cash flows from operations, and
financing capacity. If InterGroup’s liquidity were to be constrained, Portsmouth’s ability to draw on the facility could
be limited. InterGroup’s Board (or Audit Committee) oversees related-party transactions in accordance with the Company’s
policies and applicable SEC rules.

In
February 2025, the Company initiated a plan to dispose of a non-core 12-unit multifamily property in Los Angeles and commenced active
marketing in April 2025. The property was classified as held for sale at June 30, 2025. If completed, the sale would provide additional
liquidity; the Company currently expects to use any net proceeds for general corporate purposes, which may include debt reduction, reinvestment
in the real estate portfolio, and working capital. There is no assurance as to the timing, terms, or completion of the transaction. In
the ordinary course of portfolio management, we may selectively dispose of non-core assets or recycle capital where we believe market
pricing is attractive. Any such activity will depend on prevailing market conditions, property-level performance, tax consequences, and
our capital allocation priorities. We can provide no assurance as to the timing, pricing, or completion of any disposition.

Nasdaq
Listing Compliance. As discussed under Item 1A and Item 5, in July 2025 the Nasdaq Hearings Panel granted the Company an extension through
September 30, 2025 to regain compliance with Nasdaq Listing Rule 5550(b)(2) (minimum MVLS). 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 for continued listing, and the matter
is now closed.

Related
Party Credit Facility – InterGroup

Portsmouth
maintains an unsecured related-party revolving credit facility with its parent company, InterGroup, for contingency liquidity purposes;
however, as of the date of this report Hotel operations have been self-funded and no incremental draws have been required to support
operating needs. The facility, originally entered into in 2014 and subsequently modified, has undergone several amendments since inception