$PRSI

PORTSMOUTH SQUARE INC

CIK:0000079661|SEC Filings

Consolidated Statements of Operations - USD ($)	12 Months Ended
Consolidated Statements of Operations - USD ($)	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Hotel revenue	$ 55,797,000	$ 46,363,000
Costs and operating expenses
Hotel operating expenses	(43,273,000)	(37,631,000)
Hotel depreciation and amortization expense	(3,640,000)	(3,534,000)
General and administrative expense	(1,095,000)	(1,327,000)
Total costs and operating expenses	(48,008,000)	(42,492,000)
Income from operations	7,789,000	3,871,000
Other income (expense)
Interest expense – mortgage and mezzanine	(9,686,000)	(10,680,000)
Interest expense - related party	(3,437,000)	(3,570,000)
Net realized loss on marketable securities		(10,000)
Net unrealized gain on marketable securities	73,000	13,000
Gain on extinguishment of debt		1,416,000
Dividend and interest income		10,000
Trading and margin interest expense	(152,000)	(159,000)
Total other expense, net	(13,202,000)	(12,980,000)
Loss before income taxes	(5,413,000)	(9,109,000)
Income tax expense	(1,000)	(1,000)
Net loss	$ (5,414,000)	$ (9,110,000)
Basic net loss per share	$ (7.37)	$ (12.41)
Diluted net loss per share	$ (7.37)	$ (12.41)
Weighted average number of common shares outstanding - basic	734,187	734,187
Weighted average number of common shares outstanding - diluted	734,187	734,187

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net loss	$ (5,414,000)	$ (9,110,000)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Net unrealized gain on marketable securities	(73,000)	(13,000)
Amortization of other notes payable	(566,000)	(409,000)
Gain on extinguishment of debt		(1,416,000)
Depreciation and amortization	3,640,000	3,534,000
Amortization of debt issuance costs	1,016,000	1,004,000
Changes in operating assets and liabilities:
Investment in marketable securities		95,000
Accounts receivable - Hotel, net	147,000	122,000
Other assets	171,000	(57,000)
Accounts payable and other liabilities - Hotel	330,000	331,000
Accounts payable and other liabilities	(18,000)	(1,348,000)
Accounts payable to related party	4,666,000	5,119,000
Net cash provided by (used in) operating activities	3,899,000	(2,148,000)
Cash flows from investing activities:
Payments for hotel furniture, equipment and building improvements	(2,199,000)	(2,252,000)
Net cash used in investing activities	(2,199,000)	(2,252,000)
Cash flows from financing activities:
Issuance costs from refinance		(2,106,000)
Proceeds from mortgage and mezzanine notes payable		78,800,000
Proceeds from related party note payable		11,615,000
Payments of mortgage and finance leases		(76,962,000)
Net cash provided by financing activities		11,347,000
Net increase in cash, cash equivalents, and restricted cash	1,700,000	6,947,000
Cash, cash equivalents, and restricted cash at the beginning of the period	11,722,000	4,775,000
Cash, cash equivalents, and restricted cash at the end of the period	13,422,000	11,722,000
Supplemental information:
Interest paid	5,909,000	8,519,000
Income taxes paid		31,000
Cash, cash equivalents, and restricted cash presented in the consolidated statements of cash flows consist of the following:
Cash and cash equivalents	4,982,000	4,470,000
Restricted cash	8,440,000	7,252,000
Total cash, cash equivalents, and restricted cash	$ 13,422,000	$ 11,722,000

Consolidated Balance Sheets - USD ($)	Jun. 30, 2026	Jun. 30, 2025
ASSETS
Investment in Hotel, net	$ 32,342,000	$ 33,783,000
Investment in marketable securities	200,000	127,000
Cash and cash equivalents	4,982,000	4,470,000
Restricted cash	8,440,000	7,252,000
Accounts receivable - Hotel, net	250,000	397,000
Other assets	721,000	891,000
Total assets	46,935,000	46,920,000
Liabilities:
Other notes payable	1,413,000	1,979,000
Mortgage and mezzanine notes payable - Hotel, net	102,535,000	101,519,000
Total liabilities	176,469,000	171,040,000
Commitments and Contingencies - Note 14
Shareholders’ deficit:
Common stock, no par value: Authorized shares - 750,000; 734,187 shares issued and outstanding as of June 30, 2026 and 2025, respectively	2,092,000	2,092,000
Accumulated deficit	(131,626,000)	(126,212,000)
Total shareholders’ deficit	(129,534,000)	(124,120,000)
Total liabilities and shareholders’ deficit	46,935,000	46,920,000
Hotel [Member]
Liabilities:
Accounts payable and other liabilities	13,001,000	12,671,000
Nonrelated Party [Member]
Liabilities:
Accounts payable and other liabilities	112,000	129,000
Related Party [Member]
Liabilities:
Accounts payable to related party	21,300,000	16,634,000
Related party notes payable	$ 38,108,000	$ 38,108,000