Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Revenues    
Total revenues $ 53,952,000 $ 66,660,000
Operating costs    
Operating expenses 47,723,000 57,379,000
Cost of sales - food and beverages 2,698,000 4,040,000
General and administrative expense 11,619,000 9,192,000
Depreciation and amortization 4,924,000 5,548,000
Pre-opening costs 1,179,000 1,556,000
Impairment 4,088,000 1,473,000
Realized and unrealized (gain) on investments 0 (242,000)
Total operating costs 72,231,000 78,946,000
Operating loss (18,279,000) (12,286,000)
Other income (expenses)    
Interest and investment income 344,000 446,000
Interest expense, net (2,153,000) (4,049,000)
Other income (loss), net 5,488,000 (406,000)
Total other income (expenses) 3,679,000 (4,009,000)
Loss before income tax (14,600,000) (16,295,000)
Income tax expense 0 0
Net Loss (14,600,000) (16,295,000)
Preferred dividends (1,395,000) (1,395,000)
Loss Applicable to Common Stockholders $ (15,995,000) $ (17,690,000)
Loss Applicable to Common Stock, per share    
Basic (in dollars per share) $ (0.24) $ (0.26)
Diluted (in dollars per share) $ (0.24) $ (0.26)
Weighted Average Number of Shares of Common Stock Outstanding    
Basic (in shares) 67,027,104 66,977,104
Diluted (in shares) 67,027,104 66,977,104
Golf operations    
Revenues    
Total revenues $ 44,706,000 $ 53,554,000
Food and beverages    
Revenues    
Total revenues $ 9,246,000 $ 13,106,000