v3.24.1.1.u2
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
Mar. 31, 2024
Dec. 31, 2023
Current Assets    
Cash and Cash Equivalents $ 994,904 $ 752,848
Accounts Receivable, Net 486,067 329,887
Channel Retained Funds, Net 1,500,000 1,500,000
Processor Retained Funds, Net 2,633,926 2,633,926
Receivables from On-Line Travel Agencies, Net 6,749,769 6,936,254
Receivables from City of New York and Landlords, Net 6,018,035 4,585,370
Prepaid Expenses and Other Current Assets 1,361,114 1,959,022
Prepaid Guarantee Trust - Related Party 672,750 1,023,750
Total Current Assets 20,416,565 19,721,057
Other Assets    
Furniture, Equipment and Leasehold Improvements, Net 677,559 691,235
Security Deposits - Noncurrent 20,607,413 20,307,413
Prepaid Expenses and Other Noncurrent Assets 5,974,276 960,729
Operating Lease Right-Of-Use Assets, Net 229,016,100 241,613,588
Total Other Assets 256,275,348 263,572,965
Total Assets 276,691,913 283,294,022
Current Liabilities    
Accounts Payable and Accrued Expenses 28,868,844 23,182,305
Bookings Received in Advance 6,576,403 4,404,216
Short Term Business Financing, Net 3,733,417 1,115,120
Loans Payable - Current 1,666,108 1,654,589
Initial Direct Costs Leases - Current 300,000 486,390
Operating Lease Liabilities - Current 1,944,026 1,982,281
Development Incentive Advances - Current 8,893,987 300,840
Total Current Liabilities 51,982,785 33,125,741
Long-Term Liabilities    
Loans Payable 1,447,720 1,459,172
Development Incentive Advances - Noncurrent 5,667,857
Initial Direct Costs Leases - Noncurrent 3,950,000 4,050,000
Operating Lease Liabilities - Noncurrent 231,815,657 242,488,610
Total Long-Term Liabilities 237,213,377 253,665,639
Total Liabilities 289,196,162 286,791,380
Mezzanine equity    
13% Redeemable Preferred Stock; Liquidation Preference $25 per Share; 10,000,000 Shares Authorized; 294,144 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively 5,775,596 5,775,596
Stockholders’ Deficit    
Common Stock (shares authorized, issued, outstanding - 41,839,361, and 39,462,440, shares outstanding as of March 31, 2024 and December 31, 2023, respectively) 418 394
Additional Paid In Capital 98,455,107 90,437,155
Accumulated Deficit (116,735,370) (99,710,503)
Total Stockholders’ Deficit (18,279,845) (9,272,954)
Total Liabilities and Stockholders’ Deficit $ 276,691,913 $ 283,294,022