XML 41 R41.htm IDEA: XBRL DOCUMENT v3.19.2
Acquisitions and Dispositions (Details Narrative) - USD ($)
 1 Months Ended 6 Months Ended
Mar. 21, 2019
Jan. 24, 2019
Nov. 05, 2018
Nov. 01, 2018
Sep. 25, 2018
Nov. 30, 2019
Jul. 31, 2019
Jun. 30, 2019
Apr. 30, 2019
Oct. 31, 2018
Mar. 31, 2019
Business Acquisition [Line Items]                      
Total sales price                   $ 1,000,000  
Acquisition cash paid       $ 6,000,000           $ 375,000  
Business acquisition disposition description                   The Company sold its nightclub in Philadelphia for a total sales price of $1.0 million, payable $375,000 in cash at closing and a $625,000 9% note payable over a 10-year period. The note is payable interest-only for twelve months at the conclusion of which time a balloon payment of $250,000 is due, and then the remainder of the principal and interest is payable in 108 equal installments of $5,078 per month until October 2028. The buyer will lease the property from the Company's real estate subsidiary under the following terms: $36,000 per month lease payments for ten years; renewal option for a succeeding ten years at a minimum of $48,000 per month; lessee has option to purchase the property for $6.0 million during a term beginning November 2023 and expiring in October 2028.  
Notes receivable                   $ 625,000  
Balloon payment                   250,000  
Installment amount         $ 200,000         5,078  
Operating lease payments                   $ 36,000  
Operating lease term                   10 years  
Operating lease amount                   $ 48,000  
Payment to acquire property                   $ 6,000,000  
Operating lease description                   Lessee has option to purchase the property for $6.0 million during a term beginning November 2023 and expiring in October 2028.  
Gain on sale transaction                   $ 879,000  
Debt interest rate   8.00%     7.00%            
Total consideration acquired       10,500,000              
Acquisition-related costs       37,000              
Revenues       $ 1,800,000              
Line of credit         $ 5,000,000            
Debt maturity date         May 31, 2019            
Amortization period       5 years              
Assets held for sale   $ 1,400,000                  
Payments to Acquire Assets   163,000                 $ 13,902,000
Property taxes   87,000                  
Notes payable   $ 1,150,000                  
Notes payable, period   3 years                  
Preliminary gain on the sale transaction                     383,000
Proceeds from sale of property $ 1,400,000                   13,902,000
Gain loss on sale of property 628,000                    
Repayments of debt $ 980,000                    
First 35 Months [Member]                      
Business Acquisition [Line Items]                      
Notes payable                     $ 9,619
Notes payable, period                     35 months
Houston and San Antonio, Texas [Member]                      
Business Acquisition [Line Items]                      
Proceeds from sale of property           $ 868,000          
Gain loss on sale of property           273,000          
Repayments of debt           $ 945,500          
Pittsburgh Club [Member]                      
Business Acquisition [Line Items]                      
Acquisition cash paid     $ 7,500,000                
Total consideration acquired     15,000,000                
Acquisition-related costs     134,000                
Revenues     $ 2,100,000                
Amortization period     5 years                
6-Year Seller Financed Note [Member]                      
Business Acquisition [Line Items]                      
Debt interest rate       7.00%              
Total consideration acquired       $ 4,500,000              
2-Year Seller Financed Note [Member] | Pittsburgh Club [Member]                      
Business Acquisition [Line Items]                      
Debt interest rate     7.00%                
Total consideration acquired     $ 2,000,000                
10-Year Seller Financed Note [Member] | Pittsburgh Club [Member]                      
Business Acquisition [Line Items]                      
Debt interest rate     8.00%                
Total consideration acquired     $ 5,500,000                
Subsequent Event [Member]                      
Business Acquisition [Line Items]                      
Installment amount             $ 11,905        
Debt principal amount             $ 879,085        
Debt interest rate             9.00%        
Debt payment description             The note, as modified, still bears interest at 9% and is payable in 108 equal monthly installments of $11,905, including principal and interest, until July 2028.        
Proceeds from sale of property               $ 350,000 $ 1,100,000    
Gain loss on sale of property               376,000 331,000    
Repayments of debt               331,000 $ 942,000    
Subsequent Event [Member] | Aircraft [Member]                      
Business Acquisition [Line Items]                      
Proceeds from sale of property               690,000      
Gain loss on sale of property               9,000      
Repayments of debt               $ 666,000