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Discontinued Operations (Tables) | 9 Months Ended
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Oct. 31, 2018
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of Discontinued Operations | The following tables list the assets and liabilities of discontinued operations at October 31, 2018 and January 31, 2018 and the discontinued operations for IBC and Yuma for the three and nine months period ended October 31, 2018 and IBC, Yuma and Ontario for the and three and nine months period October 31, 2017 DISCONTINUED OPERATIONS
|  | OCTOBER 31, 2018 |
|  |  | Yuma |
ASSETS |  |  |  |
Current Assets: |  |  |  |
Cash and Cash Equivalents |  | $ | 9,985,750 |
Accounts Receivable |  |  | 201,667 |
Prepaid Expenses and Other Current Assets |  |  | 13,680 |
Total Current Assets of Discontinued Operations |  |  | 10,201,097 |
Property, Plant and Equipment, net |  |  | - |
TOTAL ASSETS OF DISCONTINUED OPERATIONS AND HELD FOR SALE |  | $ | 10,201,097 |
LIABILITIES |  |  |  |
LIABILITIES |  |  |  |
Current Liabilities: |  |  |  |
Accounts Payable and Accrued Expenses |  | $ | 651,951 |
Current Portion of Mortgage Notes Payable |  |  | - |
Current Portion of Notes Payable to Banks |  |  | - |
Current Portion of Other Notes Payable |  |  | - |
Total Current Liabilities of Discontinued Operations |  |  | 651,951 |
Mortgage Notes Payable |  |  | - |
TOTAL LIABILITIES OF DISCONTINUED OPERATIONS AND HELD FOR SALE |  | $ | 651,951 |
DISCONTINUED OPERATIONS
|  | JANUARY 31, 2018 |
|  | Total |  |  | Yuma |  |  | IBC |  |  | Ontario |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |
Current Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and Cash Equivalents |  | $ | 200,705 |  |  |  | 178,317 |  |  |  | 22,388 |  |  |  | - |
Accounts Receivable |  |  | 265,377 |  |  |  | 70,139 |  |  |  | 195,238 |  |  |  | - |
Prepaid Expenses and Other Current Assets |  |  | 25,447 |  |  |  | 10,803 |  |  |  | 14,644 |  |  |  | - |
Total Current Assets of Discontinued Operations |  |  | 491,529 |  |  |  | 259,259 |  |  |  | 232,270 |  |  |  | - |
Property, Plant and Equipment, net |  |  | 5,240,535 |  |  |  | 4,815,664 |  |  |  | 424,871 |  |  |  | - |
TOTAL ASSETS OF DISCONTINUED OPERATIONS AND HELD FOR SALE |  | $ | 5,732,064 |  |  |  | 5,074,922 |  |  |  | 657,141 |  |  |  | - |
LIABILITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
LIABILITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts Payable and Accrued Expenses |  | $ | 607,941 |  |  |  | 269,242 |  |  |  | 251,723 |  |  |  | 86,976 |
Current Portion of Mortgage Notes Payable |  |  | - |  |  |  |  |  |  |  |  |  |  |  |  |
Current Portion of Notes Payable to Banks |  |  | 165,239 |  |  |  | 165,239 |  |  |  |  |  |  |  |  |
Current Portion of Other Notes Payable |  |  | 123,859 |  |  |  |  |  |  |  | 123,859 |  |  |  | - |
Total Current Liabilities of Discontinued Operations |  |  | 897,039 |  |  |  | 434,481 |  |  |  | 375,582 |  |  |  | 86,976 |
Mortgage Notes Payable and Notes to Bank |  |  | 5,490,374 |  |  |  | 5,490,374 |  |  |  | - |  |  |  | - |
TOTAL LIABILITIES OF DISCONTINUED OPERATIONS AND HELD FOR SALE |  | $ | 6,387,413 |  |  |  | 5,924,855 |  |  |  | 375,582 |  |  |  | 86,976 |
|  | FOR THE THREE MONTHS ENDED |
|  | OCTOBER 31, |
|  | 2018 |  |  | 2018 |
|  |  |  |  | IBC |  |  | Yuma |
REVENUE |  |  |  |  |  |  |  |  |
Room |  | $ | 971,476 |  |  |  |  |  |  | $ | 971,476 |
Food and Beverage |  |  | 5,920 |  |  |  |  |  |  |  | 5,920 |
Reservation and Convention |  |  | 0 |  |  |  |  |  |  |  |  |
Other |  |  | 5,996 |  |  |  |  |  |  |  | 5,996 |
TOTAL REVENUE |  |  | 983,392 |  |  |  | - |  |  |  | 983,392 |
OPERATING EXPENSES |  |  |  |  |  |  |  |  |  |  |  |
Room |  |  | 725,776 |  |  |  |  |  |  |  | 725,776 |
Food and Beverage |  |  | 5,205 |  |  |  |  |  |  |  | 5,205 |
Telecommunications |  |  | 5,421 |  |  |  |  |  |  |  | 5,421 |
General and Administrative |  |  | 390,236 |  |  |  | 86,530 |  |  |  | 303,706 |
Sales and Marketing |  |  | 121,928 |  |  |  | 36,428 |  |  |  | 85,500 |
Reservation Acquisition Costs |  |  | - |  |  |  |  |  |  |  |  |
Repairs and Maintenance |  |  | 63,031 |  |  |  |  |  |  |  | 63,031 |
Hospitality |  |  | 50,007 |  |  |  |  |  |  |  | 50,007 |
Utilities |  |  | 51,958 |  |  |  |  |  |  |  | 51,958 |
Depreciation |  |  | 114,314 |  |  |  |  |  |  |  | 114,314 |
Intangible Amortization |  |  | - |  |  |  |  |  |  |  |  |
Real Estate and Personal Property Taxes, Insurance and Ground Rent |  |  | 46,279 |  |  |  |  |  |  |  | 46,279 |
Other |  |  | - |  |  |  |  |  |  |  |  |
TOTAL OPERATING EXPENSES |  |  | 1,574,154 |  |  |  | 122,958 |  |  |  | 1,451,195 |
OPERATING LOSS |  |  | (590,761 | ) |  |  | (122,958 | ) |  |  | (467,803 | )
Interest Income |  |  | - |  |  |  |  |  |  |  |  |
TOTAL OTHER INCOME |  |  | - |  |  |  | - |  |  |  | - |
Interest on Mortgage Notes Payable |  |  | 72,420 |  |  |  |  |  |  |  | 72,420 |
Interest on Notes Payable to Banks |  |  | 12,075 |  |  |  |  |  |  |  | 12,075 |
Interest on Other Notes Payable |  |  | - |  |  |  |  |  |  |  |  |
TOTAL INTEREST EXPENSE |  |  | 84,496 |  |  |  | - |  |  |  | 84,496 |
CONSOLIDATED NET LOSS OF DISCONTINUED OPERATIONS |  | $ | (675,257 | ) |  | $ | (122,958 | ) |  | $ | (552,299 | )
|  | FOR THE THREE MONTHS ENDED |
|  | OCTOBER 31, |
|  | 2017 |  |  | 2017 |
|  |  |  |  | IBC |  |  | Yuma |  |  | Ontario |
REVENUE |  |  |  |  |  |  |  |  |  |  |  |
Room |  | $ | 1,033,218 |  |  |  |  |  |  | $ | 1,033,218 |  |  |  |  |
Food and Beverage |  |  | 10,839 |  |  |  |  |  |  |  | 10,839 |  |  |  |  |
Reservation and Convention |  |  | 365,749 |  |  |  | 365,749 |  |  |  |  |  |  |  |  |
Other |  |  | 5,346 |  |  |  |  |  |  |  | 5,346 |  |  |  |  |
TOTAL REVENUE |  |  | 1,415,152 |  |  |  | 365,749 |  |  |  | 1,049,403 |  |  |  | - |
OPERATING EXPENSES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Room |  |  | 224,201 |  |  |  |  |  |  |  | 224,201 |  |  |  |  |
Food and Beverage |  |  | 15,563 |  |  |  |  |  |  |  | 15,563 |  |  |  |  |
Telecommunications |  |  | 5,689 |  |  |  |  |  |  |  | 5,689 |  |  |  |  |
General and Administrative |  |  | 477,627 |  |  |  | 363,303 |  |  |  | 92,623 |  |  |  | 21,701 |
Sales and Marketing |  |  | 564,472 |  |  |  | 483,289 |  |  |  | 81,183 |  |  |  |  |
Reservation Acquisition Costs |  |  | - |  |  |  |  |  |  |  |  |  |  |  |  |
Repairs and Maintenance |  |  | 86,296 |  |  |  |  |  |  |  | 86,296 |  |  |  |  |
Hospitality |  |  | 54,643 |  |  |  |  |  |  |  | 54,643 |  |  |  |  |
Utilities |  |  | 64,160 |  |  |  |  |  |  |  | 64,160 |  |  |  |  |
Depreciation |  |  | 146,984 |  |  |  | 26,541 |  |  |  | 120,443 |  |  |  |  |
Intangible Amortization |  |  | 16,750 |  |  |  | 16,750 |  |  |  |  |  |  |  |  |
Real Estate and Personal Property Taxes, Insurance and Ground Rent |  |  | 21,284 |  |  |  |  |  |  |  | 21,284 |  |  |  |  |
Other |  |  | 150 |  |  |  |  |  |  |  | 150 |  |  |  |  |
TOTAL OPERATING EXPENSES |  |  | 1,677,819 |  |  |  | 889,883 |  |  |  | 766,235 |  |  |  | 21,701 |
OPERATING LOSS |  |  | (262,667 | ) |  |  | (524,134 | ) |  |  | 283,168 |  |  |  | (21,701 | )
Interest Income |  |  | - |  |  |  |  |  |  |  |  |  |  |  |  |
TOTAL OTHER INCOME |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Interest on Mortgage Notes Payable |  |  | 83,178 |  |  |  |  |  |  |  | 83,178 |  |  |  |  |
Interest on Notes Payable to Banks |  |  | 4,767 |  |  |  | 4,767 |  |  |  |  |  |  |  |  |
Interest on Other Notes Payable |  |  | 26 |  |  |  |  |  |  |  | 26 |  |  |  |  |
TOTAL INTEREST EXPENSE |  |  | 87,970 |  |  |  | 4,767 |  |  |  | 83,203 |  |  |  | - |
CONSOLIDATED NET LOSS OF DISCONTINUED OPERATIONS |  | $ | (350,637 | ) |  | $ | (528,901 | ) |  | $ | 199,965 |  |  | $ | (21,701 | )
|  | FOR THE NINE MONTHS ENDED |
|  | OCTOBER 31, |
|  | 2018 |  |  | 2018 |
|  |  |  |  | IBC |  |  | Yuma |
REVENUE |  |  |  |  |  |  |  |  |
Room |  | $ | 3,225,783 |  |  |  |  |  |  |  | 3,225,783 |
Food and Beverage |  |  | 27,569 |  |  |  |  |  |  |  | 27,569 |
Reservation and Convention |  |  | 265,281 |  |  |  | 265,281 |  |  |  |  |
Other |  |  | 41,057 |  |  |  |  |  |  |  | 41,057 |
TOTAL REVENUE |  |  | 3,559,691 |  |  |  | 265,281 |  |  |  | 3,294,410 |
OPERATING EXPENSES |  |  |  |  |  |  |  |  |  |  |  |
Room |  |  | 1,243,699 |  |  |  |  |  |  |  | 1,243,699 |
Food and Beverage |  |  | 34,136 |  |  |  |  |  |  |  | 34,136 |
Telecommunications |  |  | 21,803 |  |  |  |  |  |  |  | 21,803 |
General and Administrative |  |  | 1,041,658 |  |  |  | 493,451 |  |  |  | 548,206 |
Sales and Marketing |  |  | 636,119 |  |  |  | 384,038 |  |  |  | 252,082 |
Reservation Acquisition Costs |  |  | 142,842 |  |  |  | 142,842 |  |  |  |  |
Repairs and Maintenance |  |  | 180,112 |  |  |  |  |  |  |  | 180,112 |
Hospitality |  |  | 167,095 |  |  |  |  |  |  |  | 167,095 |
Utilities |  |  | 149,635 |  |  |  |  |  |  |  | 149,635 |
Depreciation |  |  | 396,642 |  |  |  | 51,008 |  |  |  | 345,634 |
Intangible Amortization |  |  | - |  |  |  |  |  |  |  |  |
Real Estate and Personal Property Taxes, Insurance and Ground Rent |  |  | 88,344 |  |  |  |  |  |  |  | 88,344 |
Other |  |  | 5,486 |  |  |  |  |  |  |  | 5,486 |
TOTAL OPERATING EXPENSES |  |  | 4,107,570 |  |  |  | 1,071,340 |  |  |  | 3,036,231 |
OPERATING LOSS |  |  | (547,880 | ) |  |  | (806,059 | ) |  |  | 258,179 |
Interest Income |  |  | - |  |  |  |  |  |  |  |  |
TOTAL OTHER INCOME |  |  | - |  |  |  | - |  |  |  | - |
Interest on Mortgage Notes Payable |  |  | 212,573 |  |  |  |  |  |  |  | 212,573 |
Interest on Notes Payable to Banks |  |  | - |  |  |  |  |  |  |  |  |
Interest on Other Notes Payable |  |  | 41,543 |  |  |  | 3,725 |  |  |  | 37,819 |
TOTAL INTEREST EXPENSE |  |  | 254,116 |  |  |  | 3,725 |  |  |  | 250,391 |
CONSOLIDATED NET LOSS OF DISCONTINUED OPERATIONS |  | $ | (801,996 | ) |  | $ | (809,784 | ) |  | $ | 7,788 |
|  | FOR THE NINE MONTHS ENDED |
|  | OCTOBER 31, |
|  | 2017 |  |  | 2017 |
|  |  |  |  |  |  | IBC |  |  |  | Yuma |  |  |  | Ontario |
REVENUE |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Room |  | $ | 4,405,046 |  |  |  |  |  |  |  | 3,007,722 |  |  |  | 1,397,324 |
Food and Beverage |  |  | 95,511 |  |  |  |  |  |  |  | 30,535 |  |  |  | 64,976 |
Reservation and Convention |  |  | 887,274 |  |  |  | 887,274 |  |  |  |  |  |  |  |  |
Other |  |  | 24,987 |  |  |  |  |  |  |  | 16,544 |  |  |  | 8,443 |
TOTAL REVENUE |  |  | 5,412,819 |  |  |  | 887,274 |  |  |  | 3,054,802 |  |  |  | 1,470,743 |
OPERATING EXPENSES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Room |  |  | 1,648,772 |  |  |  |  |  |  |  | 708,874 |  |  |  | 939,898 |
Food and Beverage |  |  | 110,663 |  |  |  |  |  |  |  | 44,511 |  |  |  | 66,152 |
Telecommunications |  |  | 24,116 |  |  |  |  |  |  |  | 24,116 |  |  |  | - |
General and Administrative |  |  | 1,504,218 |  |  |  | 952,710 |  |  |  | 272,692 |  |  |  | 278,815 |
Sales and Marketing |  |  | 1,353,825 |  |  |  | 1,008,029 |  |  |  | 222,496 |  |  |  | 123,300 |
Reservation Acquisition Costs |  |  | - |  |  |  |  |  |  |  |  |  |  |  |  |
Repairs and Maintenance |  |  | 319,309 |  |  |  |  |  |  |  | 219,160 |  |  |  | 100,149 |
Hospitality |  |  | 278,896 |  |  |  |  |  |  |  | 156,669 |  |  |  | 122,227 |
Utilities |  |  | 239,965 |  |  |  |  |  |  |  | 165,325 |  |  |  | 74,640 |
Depreciation |  |  | 604,610 |  |  |  | 75,083 |  |  |  | 351,703 |  |  |  | 177,824 |
Intangible Amortization |  |  | 50,250 |  |  |  | 50,250 |  |  |  |  |  |  |  |  |
Real Estate and Personal Property Taxes, Insurance and Ground Rent |  |  | 127,484 |  |  |  |  |  |  |  | 71,469 |  |  |  | 56,015 |
Other |  |  | 1,457 |  |  |  |  |  |  |  | (2,111 | ) |  |  | 3,568 |
TOTAL OPERATING EXPENSES |  |  | 6,263,564 |  |  |  | 2,086,073 |  |  |  | 2,234,904 |  |  |  | 1,942,588 |
OPERATING LOSS |  |  | (850,745 | ) |  |  | (1,198,799 | ) |  |  | 819,899 |  |  |  | (471,845 | )
Interest Income |  |  | 961 |  |  |  |  |  |  |  |  |  |  |  | 961 |
TOTAL OTHER INCOME |  |  | 961 |  |  |  | - |  |  |  | - |  |  |  | 961 |
Interest on Mortgage Notes Payable |  |  | 352,203 |  |  |  |  |  |  |  | 224,416 |  |  |  | 127,787 |
Interest on Notes Payable to Banks |  |  | 16,666 |  |  |  | 16,666 |  |  |  |  |  |  |  |  |
Interest on Other Notes Payable |  |  | 454 |  |  |  |  |  |  |  | 26 |  |  |  | 428 |
TOTAL INTEREST EXPENSE |  |  | 369,322 |  |  |  | 16,666 |  |  |  | 224,441 |  |  |  | 128,215 |
CONSOLIDATED NET LOSS OF DISCONTINUED OPERATIONS |  | $ | (1,219,106 | ) |  | $ | (1,215,465 | ) |  | $ | 595,457 |  |  | $ | (599,099 | )

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