Company: INTG
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001493152-25-006758
Chunk: 95

Company: INTERGROUP CORP
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 8
Chunk 95
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 discuss a collaborative process for the possible removal of the Bridge.
Until the purported revocation of the Permit in 2022, the City representatives repeatedly and consistently promised and agreed that the
City will pay for the associated costs of any Bridge removal. Nevertheless, without waiving any rights, in an effort to understand all
of the available options, and to provide a response to the City’s directives, the Company has engaged a Project Manager, a structural
engineering firm and an architect to advise on the development of a Plan for the Bridge removal, as well as the reconstruction of the
front of the Hilton Hotel. The Company has been working cooperatively with the City on the process for removal of the Bridge and its
related physical encroachments, including obtaining regulatory approvals and permits. The Company is currently in discussion with the
City regarding both the process and financial responsibility for the implementation of the Plan and reconstruction of the impacted portions
of the Hotel. Those discussions are expected to continue at least through the first quarter of 2025. A final Plan is currently not expected
to be completed and approved until the Spring of 2025, and permits are unlikely to be obtained until the Summer of 2025 at the earliest.

The
Company may be subject to legal proceedings, claims, and litigation arising in the ordinary course of business. The Company will defend
itself vigorously against any such claims. Management does not believe that the impact of such matters will have a material effect on
the financial conditions or result of operations when resolved.

  Item 1A.
   RISK FACTORS

As
a smaller reporting company, we are not required to provide the information required by this Item.

  Item
  2.
   UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

There
have been no events that are required to be reported under this Item.

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  Item
  3.
   DEFAULTS UPON SENIOR SECURITIES

There
have been no events that are required to be reported under this Item.

  Item
  4.
   MINE SAFETY DISCLOSURES

There
have been no events that are required to be reported under this Item.

  Item
  5.
   OTHER INFORMATION

There
have been no events that are required to be reported under this Item.

  Item
  6.
   EXHIBITS

  31.1
  Certification of Principal Executive Officer of Periodic Report Pursuant