Intergroup Corp Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Intergroup Corp filed its Q3 10-Q report, detailing operations for the period ending March 31, 2024.</b>

AI Summary

INTERGROUP CORP (INTG) filed a Quarterly Report (10-Q) with the SEC on May 14, 2024. Intergroup Corp filed a 10-Q report for the period ending March 31, 2024. The filing covers the third quarter of their fiscal year. The company's fiscal year ends on June 30. Intergroup Corp is an operator of apartment buildings, SIC code 6513. The company was formerly known as Mutual Real Estate Investment Trust.

Why It Matters

For investors and stakeholders tracking INTERGROUP CORP, this filing contains several important signals. This 10-Q filing provides investors with an update on Intergroup Corp's financial performance and operational status for the third quarter of its fiscal year. Understanding the details within this report is crucial for stakeholders to assess the company's current financial health and make informed investment decisions.

Risk Assessment

Risk Level: low — INTERGROUP CORP shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate red flags or significant negative developments, indicating a low level of immediate risk.

Analyst Insight

Monitor future filings for revenue growth, net income trends, and any changes in debt levels to assess the company's ongoing performance.

Key Numbers

• 2024-03-31 — Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-05-14 — Filing Date (FILED AS OF DATE)
• 0630 — Fiscal Year End (FISCAL YEAR END)
• 6513 — SIC Code (STANDARD INDUSTRIAL CLASSIFICATION)

Key Players & Entities

• INTERGROUP CORP (company) — FILER
• 0000069422 (company) — CENTRAL INDEX KEY
• 6513 (company) — STANDARD INDUSTRIAL CLASSIFICATION
• MUTUAL REAL ESTATE INVESTMENT TRUST (company) — FORMER COMPANY
• 19860408 (date) — DATE OF NAME CHANGE
• 2024-03-31 (date) — CONFORMED PERIOD OF REPORT
• 2024-05-14 (date) — FILED AS OF DATE
• 11620 WILSHIRE BOULEVARD (address) — BUSINESS ADDRESS STREET 1

FAQ

Industry Context

Intergroup Corp operates within the real estate sector, specifically as an operator of apartment buildings.

Regulatory Implications

The company is subject to standard SEC reporting requirements for publicly traded entities, including the filing of quarterly reports (10-Q).

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and management discussion.
2. Analyze trends in revenue, expenses, and net income from previous quarters.
3. Assess any disclosures regarding operational risks or strategic initiatives.

Year-Over-Year Comparison

This is the most recent quarterly filing (10-Q) for Intergroup Corp, providing updated information compared to previous filings.

Filing Documents

• form10-q.htm (10-Q) — 1024KB
• ex31-1.htm (EX-31.1) — 11KB
• ex31-2.htm (EX-31.2) — 11KB
• ex32-1.htm (EX-32.1) — 8KB
• ex32-2.htm (EX-32.2) — 8KB
• 0001493152-24-019168.txt (&nbsp;) — 5687KB
• intg-20240331.xsd (EX-101.SCH) — 43KB
• intg-20240331_cal.xml (EX-101.CAL) — 64KB
• intg-20240331_def.xml (EX-101.DEF) — 180KB
• intg-20240331_lab.xml (EX-101.LAB) — 353KB
• intg-20240331_pre.xml (EX-101.PRE) — 279KB
• form10-q_htm.xml (XML) — 922KB

Financial Statements

Financial Statements. Condensed Consolidated Balance Sheets as of March 31, 2024 (Unaudited) and June 30, 2023 3 Condensed Consolidated Statements of Operations for the Three Months ended March 31, 2024 and 2023 (Unaudited) 4 Condensed Consolidated Statements of Operations for the Nine Months ended March 31, 2024 and 2023 (Unaudited) 5 Condensed Consolidated Statements of Shareholders' Deficit for the Three and Nine Months ended March 31, 2024 and 2023 (Unaudited) 6 Condensed Consolidated Statements of Cash Flows for the Nine Months ended March 31, 2024 and 2023 (Unaudited) 7 Notes to the Condensed Consolidated Financial Statements (Unaudited) 8-20 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations. 21-28 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk. 28 Item 4.

Controls and Procedures

Controls and Procedures. 28

– OTHER

PART II – OTHER INFORMATION Item 1. Legal Proceedings. 29 Item 1A. Risk Factors. 29 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 29 Item 3. Defaults Upon Senior Securities. 30 Item 4. Mine Safety Disclosures. 30 Item 5. Other Information. 30 Item 6. Exhibits. 30

Signatures

Signatures 31 -2- PART I FINANCIAL INFORMATION Item 1 - Condensed Consolidated Financial Statements THE INTERGROUP CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS As of March 31, 2024 June 30, 2023 (unaudited) ASSETS Investment in Hotel, net $ 40,371,000 $ 40,318,000 Investment in real estate, net 47,907,000 48,057,000 Investment in marketable securities 14,684,000 18,345,000 Cash and cash equivalents 7,763,000 5,960,000 Restricted cash 4,225,000 6,914,000 Other assets, net 4,005,000 2,764,000 Total assets $ 118,955,000 $ 122,358,000 LIABILITIES AND SHAREHOLDERS' DEFICIT Liabilities: Accounts payable and other liabilities - Hotel $ 13,152,000 $ 11,616,000 Accounts payable and other liabilities 2,639,000 2,574,000 Due to securities broker 2,944,000 1,601,000 Obligations for securities sold 23,000 1,416,000 Other notes payable 2,529,000 2,954,000 Deferred tax liability 4,633,000 4,927,000 Mortgage notes payable - Hotel, net 106,045,000 107,117,000 Mortgage notes payable - real estate, net 88,416,000 84,757,000 Total liabilities 220,381,000 216,962,000 Shareholders' deficit: Preferred stock, $ .01 par value, 100,000 shares authorized; none issued - - Common stock, $ .01 par value, 4,000,000 shares authorized; 3,459,888 and 3,459,888 issued; 2,187,214 and 2,205,927 outstanding, respectively 33,000 33,000 Additional paid-in capital 3,602,000 2,445,000 Accumulated deficit ( 58,772,000 ) ( 52,835,000 ) Treasury stock, at cost, 1,272,674 and 1,253,961 shares as of March 31, 2024 and June 30, 2023, respectively ( 21,223,000 ) ( 20,794,000 ) Total InterGroup shareholders' deficit ( 76,360,000 ) ( 71,151,000 ) Noncontrolling interest ( 25,066,000 ) ( 23,453,000 ) Total shareholders' deficit ( 101,426,000 ) ( 94,604,000 ) Total liabilities and shareholders' deficit $ 118,955,000 $ 122,358,000 The accompanying notes are an integral part of these (u