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ACCOUNTS PAYABLE AND OTHER LIABILITIES
 6 Months Ended
Dec. 31, 2025
Payables and Accruals [Abstract]  
ACCOUNTS PAYABLE AND OTHER LIABILITIES

NOTE 14 – ACCOUNTS PAYABLE AND OTHER LIABILITIES

 

The following summarizes the components of accounts payable and other liabilities as of December 31, 2025 and June 30, 2025:

 

As of  December 31, 2025   June 30, 2025 
         
Trade payable  $2,222,000   $2,742,000 
Advance deposits   1,426,000    743,000 
Property tax payable   1,003,000    563,000 
Payroll and related accruals   3,124,000    3,038,000 
Mortgage interest payable   4,909,000    3,568,000 
Withholding and other taxes payable   893,000    1,597,000 
Security deposit   1,029,000    1,024,000 
Franchise fees   249,000    1,649,000 
Management fees payable   77,000    604,000 
Other   474,000    436,000 
Total accounts payable and other liabilities  $15,406,000   $15,964,000 

 

Accounts payable and other liabilities consist primarily of amounts incurred in the ordinary course of business and are generally due within one year. Trade payables represent amounts owed to vendors for operating and capital items. Advance deposits consist primarily of customer deposits received in advance of providing services, including deposits related to Hotel stays and events (see Note 3). Accrued payroll and related liabilities include wages, bonuses, and employee-related accruals. Mortgage interest payable represents accrued interest on the Company’s mortgage debt (see Note 13). Withholding and other taxes payable consist primarily of payroll-related and other taxes owed. Security deposits primarily represent tenant deposits associated with the Company’s real estate operations. Franchise fees payable and management fees payable are relate to Hotel operations.