Company: INTG
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010724
Chunk: 16

Company: INTERGROUP CORP
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 16
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cribed in Note 1, the Company has made substantial progress in refinancing its mortgage and mezzanine debt obligations, which previously
raised doubt regarding its near-term financial viability. On March 28, 2025, the Company completed the refinancing of its senior mortgage
and modified its mezzanine debt structure, both of which provide near-term relief and reduce imminent refinancing risk.

Nonetheless,
the Company’s liquidity position continues to be impacted by broader macroeconomic and market-specific factors, including high
interest rates, ongoing weakness in San Francisco’s business travel segment, and elevated operating costs. These uncertainties,
combined with the need to maintain compliance with newly established debt covenants, raise substantial doubt about the Company’s
ability to continue as a going concern within one year of the issuance of these financial statements.

Management
continues to evaluate financing strategies, capital allocation decisions, and operating efficiencies to preserve liquidity. There can
be no assurance, however, that these initiatives will be sufficient to meet all of the Company’s liquidity requirements, particularly
in the event of continued market underperformance.

The
following table provides a summary as of March 31, 2025, the Company’s material financial obligations

which
also includes interest payments.

SCHEDULE OF MATERIAL FINANCING OBLIGATION 

    3 Months  
    Year  
    Year  
    Year  
    Year  

    Total  
    2025  
    2026  
    2027  
    2028  
    2029  
    Thereafter 
  
    Mortgage and subordinated notes
    payable 
    $198,396,000  
    $5,589,000  
    $1,162,000  
    $106,596,000  
    $1,770,000  
    $1,845,000  
    $81,434,000 
  
    Other notes payable 
     2,121,000  
     142,000  
     567,000  
     463,000  
     317,000  
     317,000  
     315,000 
  
    Interest 
     40,970,000  
     2,454,000  
     11,667,000  
     11,098,000  
     2,648,000  
     2,582,000