Liquidity The Company has liquidity of approximately $346,000 comprised of $140,000 in cash and $206,000 available underits revolving credit facilities. In addition, the Company has approximately $1,290,000 of unencumbered incomeproducing and hotel properties, and other investments which could be utilized for financing. To further enhance
liquidity, the Company has narrowed down the scope of its capital expenditure program to ensure the availability ofresources, allocating an amount that enables the Company to maintain the structural and overall safety of theproperties. Management has also implemented various initiatives to reduce or defer operating expenses and is
monitoring various government assistance programs in Canada and the U.S. structured to provide relief frompersonnel costs and commercial rent subsidies.
The Company has approximately $717,000 of mortgages payable maturing during 2021 and 2022 having an
aggregate loan-to-value ratio of 43% which management expects to be able to refinance at similar or favourable terms.
The Company expects to be able to issue new debt instruments and use current liquidity sufficient to permitthe repayment of its 2021 and 2022 maturities.