$IHT
INNSUITES HOSPITALITY TRUST

2024 Q4 Form 10-Q Financial Statement

#000149315224050274 Filed on December 16, 2024

View on sec.gov

Income Statement

Concept 2024 Q4
Revenue $1.825M
YoY Change 0.03%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $1.955M
YoY Change -0.97%
Operating Profit -$130.3K
YoY Change -13.14%
Interest Expense $91.98K
YoY Change -26.35%
% of Operating Profit
Other Income/Expense, Net $4.821K
YoY Change -66.11%
Pretax Income -$217.5K
YoY Change -16.58%
Income Tax
% Of Pretax Income
Net Earnings -$276.4K
YoY Change -549.78%
Net Earnings / Revenue -15.14%
Basic Earnings Per Share -$0.03
Diluted Earnings Per Share -$0.03
COMMON SHARES
Basic Shares Outstanding 8.820M shares
Diluted Shares Outstanding 8.820M shares

Balance Sheet

Concept 2024 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $451.9K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $48.36K
Other Receivables
Total Short-Term Assets $2.444M
YoY Change -25.3%
LONG-TERM ASSETS
Property, Plant & Equipment $6.863M
YoY Change -2.89%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $12.53M
YoY Change -1.38%
TOTAL ASSETS
Total Short-Term Assets $2.444M
Total Long-Term Assets $12.53M
Total Assets $14.97M
YoY Change -6.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.505M
YoY Change 7.97%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.505M
Total Long-Term Liabilities
Total Liabilities $13.32M
YoY Change 4.76%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $6.137M
YoY Change -15.02%
Preferred Stock
YoY Change
Treasury Stock (at cost) $917.4K
YoY Change 12.39%
Treasury Stock Shares
Shareholders Equity $5.220M
YoY Change
Total Liabilities & Shareholders Equity $14.97M
YoY Change -6.28%

Cashflow Statement

Concept 2024 Q4
OPERATING ACTIVITIES
Net Income -$276.4K
YoY Change -549.78%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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INNSUITES HOSPITALITY TRUST
dei Entity Incorporation State Country Code
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us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
-100000 usd
us-gaap Payments Of Dividends
PaymentsOfDividends
90237 usd
us-gaap Payments Of Dividends
PaymentsOfDividends
90062 usd
IHT Payments To Minority Shareholder
PaymentsToMinorityShareholder
311957 usd
IHT Payments To Minority Shareholder
PaymentsToMinorityShareholder
569222 usd
us-gaap Payments For Repurchase Of Other Equity
PaymentsForRepurchaseOfOtherEquity
45187 usd
us-gaap Payments For Repurchase Of Other Equity
PaymentsForRepurchaseOfOtherEquity
399164 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
145168 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1327774 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-873463 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-206707 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1325368 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2111383 usd
CY2024Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
451905 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1904676 usd
CY2024Q4 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
0 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_841_eus-gaap--UseOfEstimates_zTPsJvMkW2Sl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_866_zVq8N1njHkG9">USE OF ESTIMATES</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of the unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the audited condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Trust’s operations are affected by numerous factors, including the economy, inflation, virus/pandemic, competition in the hotel industry and the effect of the economy on the travel and hospitality industries. The Trust cannot predict if any of the above items will have a significant impact in the future, nor can it predict what impact, if any, the occurrence of these or other events might have on the Trust’s operations and cash flows. Significant estimates and assumptions made by management include, but are not limited to, the estimated useful lives of long-lived assets and recoverability of long-lived assets and the fair values of the long-lived assets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q4 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
4000 usd
CY2024Q1 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
4000 usd
us-gaap Weighted Average Limited Partnership Units Outstanding Diluted
WeightedAverageLimitedPartnershipUnitsOutstandingDiluted
3185793 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3185793 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3185793 shares
CY2024Q4 us-gaap Advertising Expense
AdvertisingExpense
54000 usd
CY2023Q4 us-gaap Advertising Expense
AdvertisingExpense
77000 usd
us-gaap Advertising Expense
AdvertisingExpense
153000 usd
us-gaap Advertising Expense
AdvertisingExpense
242000 usd
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_840_eus-gaap--ConcentrationRiskCreditRisk_zGi78t2vKjc5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_86F_zpwiukDUzkFi">CONCENTRATION OF CREDIT RISK</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Credit risk is the risk of an unexpected loss if a third party to a financial instrument fails to meet its contractual obligations. Financial instruments that potentially subject the Trust to a concentration of credit risk consist primarily of cash and cash equivalents. Management’s assessment of the Trust’s credit risk for cash and cash equivalents is low as cash and cash equivalents are held in financial institutions believed to be credit worthy. The Trust limits its exposure to credit loss by placing its cash with various major financial institutions and invests only in short-term obligations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">While the Trust is exposed to credit losses due to the non-performance of its counterparties, the Trust considers the risk of this remote. The Trust estimates its maximum credit risk for accounts receivable at the amount recorded on the balance sheet.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024 us-gaap Interest And Other Income
InterestAndOtherIncome
45000 usd
CY2024Q1 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
45000 shares
CY2024Q2 us-gaap Interest And Other Income
InterestAndOtherIncome
35000 usd
CY2024Q2 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
35000 shares
CY2024Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
1227000 usd
CY2024Q4 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
59044 usd
CY2024Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
1197856 usd
CY2024Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
530999 usd
CY2024Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
263125 usd
CY2024Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
274685 usd
CY2024Q4 IHT Long Term Debt Maturities Repayments Of Principal After Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour
7987425 usd
CY2024Q4 us-gaap Long Term Debt
LongTermDebt
10313134 usd
IHT Shares Repurchase Price Per Share
SharesRepurchasePricePerShare
1.59
IHT Shares Repurchase Price Per Share
SharesRepurchasePricePerShare
1.16
us-gaap Interest Paid Net
InterestPaidNet
336000 usd
us-gaap Interest Paid Net
InterestPaidNet
375000 usd
IHT Notes Payables Shares Of Beneficial Interest And Partnership Units Repurchases
NotesPayablesSharesOfBeneficialInterestAndPartnershipUnitsRepurchases
0 usd
IHT Notes Payables Shares Of Beneficial Interest And Partnership Units Repurchases
NotesPayablesSharesOfBeneficialInterestAndPartnershipUnitsRepurchases
0 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
CY2024Q4 us-gaap Restricted Cash
RestrictedCash
0 usd
CY2024Q1 us-gaap Restricted Cash
RestrictedCash
0 usd
IHT Membership Fees
MembershipFees
153000 usd
IHT Membership Fees
MembershipFees
137000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
108929 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
3452 usd
CY2024Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
2236306 usd
CY2024Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
2216563 usd
CY2024Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P31Y
CY2024Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0485 pure
CY2024Q4 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
33589 usd
CY2024Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
134367 usd
CY2024Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
134379 usd
CY2024Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
134391 usd
CY2024Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
134403 usd
CY2024Q4 IHT Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
3992854 usd
CY2024Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
4563983 usd
CY2024Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2327677 usd
CY2024Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
2236306 usd
CY2024Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
19743 usd
CY2024Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
2216563 usd
CY2024Q4 IHT Notes And Loans Receivable Net In Year Three
NotesAndLoansReceivableNetInYearThree
1925000 usd
CY2024Q4 IHT Notes Receivable Net Excluding Impairment
NotesReceivableNetExcludingImpairment
1925000 usd
CY2024Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
5200000 usd
CY2024Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
2100000 usd
CY2024Q4 IHT Syndications
Syndications
2900000 usd
CY2024Q1 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
1800000 usd
CY2024Q4 us-gaap Operating Loss Carryforwards Valuation Allowance
OperatingLossCarryforwardsValuationAllowance
3300000 usd
CY2024Q4 us-gaap Compensation And Benefits Trust
CompensationAndBenefitsTrust
2700000 usd
us-gaap Income Tax Examination Description
IncomeTaxExaminationDescription
the Trust conservatively placed an amount equal to approximately 12% of this total as a Tax Credit Receivable and/or Tax Refund on the Balance Sheet and Income statement, respectively, for the year ended January 31, 2024
CY2024Q4 IHT Employee Retention Tax Credit Amount Received
EmployeeRetentionTaxCreditAmountReceived
1500000 usd
CY2024Q1 us-gaap Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
0.02
CY2024Q2 us-gaap Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
0.01
CY2024Q3 us-gaap Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
0.01
CY2023Q2 us-gaap Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
0.01
CY2023Q3 us-gaap Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
0.01
CY2024Q1 us-gaap Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
0.01
CY2024Q3 us-gaap Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
0.01
CY2024Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
28937 shares
CY2024Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
42541 usd
CY2024 us-gaap Net Income Loss
NetIncomeLoss
203880 usd
CY2024 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.02
us-gaap Revenues
Revenues
7500000 usd
CY2024 IHT Increase In Revenues Percentage
IncreaseInRevenuesPercentage
0.05 pure
CY2024 us-gaap Revenues
Revenues
7100000 usd
CY2024 IHT Non Cash Depreciation Expenses
NonCashDepreciationExpenses
956333 usd
us-gaap Revenues
Revenues
4600000 usd

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