Company: INTG
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010724
Chunk: 74

Company: INTERGROUP CORP
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 74
---
(5,144,000)
  
    Loss from investments 
     -  
     -  
     (636,000) 
     -  
     (636,000)
  
    Gain
    (loss) from investments 
     -  
     -  
     (636,000) 
     -  
     (636,000)

    Income tax benefit 
     -  
     -  
     -  
     191,000  
     191,000 
  
    Net (loss) income 
    $(4,242,000) 
    $871,000  
    $(636,000) 
    $(3,627,000) 
    $(7,634,000)
  
    Total assets 
    $46,804,000  
    $47,907,000  
    $14,684,000  
    $9,560,000  
    $118,955,000 

    -17-

NOTE
11 – RELATED PARTY AND OTHER FINANCING TRANSACTIONS

The
following summarizes the balances of other notes payable as of March 31, 2025 and June 30, 2024, respectively.

SCHEDULE
OF RELATED PARTY AND OTHER FINANCING TRANSACTIONS 

    As
    of 
    March
    31, 2025  
    June
    30, 2024 
  
    Note payable - Hilton 
    $1,663,000  
    $1,742,000 
  
    Note payable - Aimbridge 
     458,000  
     646,000 
  
    Total
    other notes payable 
    $2,121,000  
    $2,388,000 

On
July 2, 2014, the Partnership obtained from InterGroup an unsecured loan in the principal amount of $4,250,000 at 12% per year fixed
interest, with a term of 2 years, payable interest only each month. InterGroup received a 3% loan fee. The loan may be prepaid at any
time without penalty. The loan was extended to July 31, 2023. On December 16, 2020, the Partnership and InterGroup entered into a loan
modification agreement which increased the Partnership’s borrowing from InterGroup as needed up to $10,000,000.