Company: INTG
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001493152-25-006758
Chunk: 32

Company: INTERGROUP CORP
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 1
Chunk 32
---
 Investment Committee, the Company’s President and Chief Executive
Officer (CEO), John V. Winfield, directs the investment activity of the Company in public and private markets pursuant to authority granted
by the Board of Directors. Mr. Winfield also serves as Chief Executive Officer and Chairman of the Board of Portsmouth and directs the
investment activity of Portsmouth. Effective June 2016, Mr. Winfield became the Managing Director of Justice and served in that position
until the dissolution of Justice in December 2021. Depending on certain market conditions and various risk factors, the Chief Executive
Officer and Portsmouth may, at times, invest in the same companies in which the Company invests. Such investments align the interests
of the Company with the interests of related parties because it places the personal resources of the Chief Executive Officer and the
resources of Portsmouth, at risk in substantially the same manner as the Company in connection with investment decisions made on behalf
of the Company.

    -19-

NOTE
12 – ACCOUNTS PAYABLE AND OTHER LIABILITIES

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

 SCHEDULE
OF ACCOUNTS PAYABLE AND OTHER LIABILITIES

    As
    of 
    December
    31, 2024  
    June
    30, 2024 

    Trade payable 
    $2,214,000  
    $2,999,000 
  
    Advance deposits 
     663,000  
     557,000 
  
    Property tax payable 
     998,000  
     563,000 
  
    Payroll and related accruals 
     3,370,000  
     3,183,000 
  
    Mortgage interest payable 
     6,863,000  
     3,930,000 
  
    Withholding and other taxes payable 
     1,263,000  
     1,382,000 
  
    Security deposit 
     982,000  
     952,000 
  
    Franchise fees 
     1,820,000  
     1,418,000 
  
    Management fees payable 
     963,000  
     2,688,000 
  
    Other 
     418,000  
     350,000 
  
    Total accounts
    payable and other liabilities