Company: INTG
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021858
Chunk: 100

Company: INTERGROUP CORP
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 8
Chunk 100
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 to maintain the competitiveness and operational standards of the Hotel under
                                            its Hilton franchise agreement.

The
Company intends to meet these obligations using a combination of:

●Available
                                            cash on hand,

●Operating
                                            cash flows,

●Draws
                                            under the InterGroup credit facility, and

●Other
                                            potential financing or equity alternatives.

Management’s
Liquidity Assessment

The
Company has taken proactive steps to stabilize its liquidity profile, including:

●Completion
                                            of a refinancing of its senior and mezzanine debt in March 2025,

●Continuing
                                            cost controls and selective capital expenditure deferrals,

●Maintenance
                                            of access to related-party financing capacity; and

●Maintenance
                                            of a lender-controlled lockbox cash management system (see the Notes to the Condensed Consolidated
                                            Financial Statements – Debt).

While
management believes that current liquidity sources and available borrowing capacity will be sufficient to support near-term working capital
needs—even in the event of continued pressure on hotel performance indicators such as occupancy and RevPAR—there can be no
assurance that unforeseen market or operational conditions will not adversely affect the Company’s liquidity position.

The
Company continues to evaluate strategic alternatives and operational adjustments in response to ongoing macroeconomic and market-specific
challenges in San Francisco’s hospitality sector.

Going
Concern — Portsmouth (Subsidiary Only)

InterGroup
has not experienced conditions or events that raise substantial doubt about its ability to continue as a going concern. As previously
disclosed, Portsmouth’s prior going-concern uncertainty was alleviated as of June 30, 2025 following its refinancing. Since then,
Portsmouth has remained current on required debt services and continued planned property improvements. Management’s current evaluation
concludes that no conditions or events exist that raise substantial doubt about Portsmouth’s ability to continue as a going concern
for at least twelve months. See Note 1 – Basis of Presentation (Going Concern).

OFF-BALANCE
SHEET ARRANGEMENTS

As
of September 30, 2025, the Company has no material off balance sheet arrangements.

-25-

MATERIAL
CONTRACTUAL OBLIGATIONS 

The
following table summarizes, as of September 30, 2025, our material contractual (including estimated interest) and other cash requirements.
A tabular presentation is provided for investor clarity; however, Item 303 no longer requires a contractual obligations table.

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