10-Q Filing

MAYS J W INC CIK: 54187 Q2 2021

Filing Information

Form Type	10-Q
Accession Number	`0001206774-21-000603`
Period End Date	20210131
Filing Date	20210304
Fiscal Year	2021
Fiscal Period	Q2
XBRL Instance	mays-20210131.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 71 Income Statement 64 Cash Flow Statement 58 Stockholders Equity 16

Balance Sheet 71 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	5.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	5.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	2.18M	shares	Point-in-time
Land	`Land`	$6.07M	USD	Point-in-time
Land	`Land`	$6.07M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	2.18M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	162,517.00	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	162,517.00	shares	Point-in-time
Buildings, improvements and fixtures	`BuildingsAndImprovementsGross`	$73.27M	USD	Point-in-time
Buildings, improvements and fixtures	`BuildingsAndImprovementsGross`	$74.41M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$1.27M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$1.62M	USD	Point-in-time
Property, Plant and Equipment, Gross	`PropertyPlantAndEquipmentGross`	$76.03M	USD	Point-in-time
Property, Plant and Equipment, Gross	`PropertyPlantAndEquipmentGross`	$74.54M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$33.90M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$33.01M	USD	Point-in-time
Buildings - net	`BuildingsNet`	$41.53M	USD	Point-in-time
Buildings - net	`BuildingsNet`	$42.13M	USD	Point-in-time
Property and equipment-net	`PropertyPlantAndEquipmentNet`	$47.60M	USD	Point-in-time
Property and equipment-net	`PropertyPlantAndEquipmentNet`	$48.20M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.26M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.15M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.49M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$912.97K	USD	Point-in-time
Restricted cash	`RestrictedCash`	$1.14M	USD	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$2.22M	USD	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$2.67M	USD	Point-in-time
Marketable securities	`MarketableSecurities`	$3.92M	USD	Point-in-time
Marketable securities	`MarketableSecurities`	$3.74M	USD	Point-in-time
Prepaids and other assets	`PrepaidExpenseCurrent`	$2.25M	USD	Point-in-time
Prepaids and other assets	`PrepaidExpenseCurrent`	$2.39M	USD	Point-in-time
Deferred charges, net	`DeferredCostsLeasingGross`	$2.99M	USD	Point-in-time
Deferred charges, net	`DeferredCostsLeasingGross`	$3.93M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$37.08M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$35.83M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$100.42M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$99.21M	USD	Point-in-time
Mortgages payable, net	`LoansPayableToBank`	$8.63M	USD	Point-in-time
Mortgages payable, net	`LoansPayableToBank`	$8.08M	USD	Point-in-time
Note payable	`NotesPayableToBank`	$722.73K	USD	Point-in-time
Note payable	`NotesPayableToBank`	$722.73K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesNoncurrent`	$2.77M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesNoncurrent`	$3.29M	USD	Point-in-time
Security deposits payable	`SecurityDepositsPayableNonCurrent`	$809.65K	USD	Point-in-time
Security deposits payable	`SecurityDepositsPayableNonCurrent`	$869.65K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiability`	$29.04M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiability`	$28.47M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$4.54M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$4.74M	USD	Point-in-time
Total liabilities	`Liabilities`	$46.72M	USD	Point-in-time
Total liabilities	`Liabilities`	$45.98M	USD	Point-in-time
Common stock, par value $1 each share (shares-5,000,000 authorized; 2,178,297 issued)	`CommonStockValue`	$2.18M	USD	Point-in-time
Common stock, par value $1 each share (shares-5,000,000 authorized; 2,178,297 issued)	`CommonStockValue`	$2.18M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$3.35M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$3.35M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$49.47M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$49.00M	USD	Point-in-time
Stockholders' Equity before Treasury Stock	`StockholdersEquityBeforeTreasuryStock`	$54.52M	USD	Point-in-time
Stockholders' Equity before Treasury Stock	`StockholdersEquityBeforeTreasuryStock`	$54.99M	USD	Point-in-time
Common stock held in treasury, at cost - 162,517 shares at January 31, 2021 and July 31, 2020	`TreasuryStockValue`	$1.29M	USD	Point-in-time
Common stock held in treasury, at cost - 162,517 shares at January 31, 2021 and July 31, 2020	`TreasuryStockValue`	$1.29M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$54.74M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$53.29M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$53.70M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$54.68M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$54.61M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$53.23M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$100.42M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$99.21M	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Rental income	`OperatingLeasesIncomeStatementLeaseRevenues`	$9.88M	USD	2 Qtrs
Rental income	`OperatingLeasesIncomeStatementLeaseRevenues`	$10.07M	USD	2 Qtrs
Rental income	`OperatingLeasesIncomeStatementLeaseRevenues`	$5.04M	USD	1 Quarter
Rental income	`OperatingLeasesIncomeStatementLeaseRevenues`	$5.05M	USD	1 Quarter
Total revenues	`Revenues`	$10.07M	USD	2 Qtrs
Total revenues	`Revenues`	$5.04M	USD	1 Quarter
Total revenues	`Revenues`	$5.05M	USD	1 Quarter
Total revenues	`Revenues`	$9.88M	USD	2 Qtrs
Real estate operating expenses	`OperatingCostsAndExpenses`	$3.57M	USD	1 Quarter
Real estate operating expenses	`OperatingCostsAndExpenses`	$7.17M	USD	2 Qtrs
Real estate operating expenses	`OperatingCostsAndExpenses`	$6.82M	USD	2 Qtrs
Real estate operating expenses	`OperatingCostsAndExpenses`	$3.59M	USD	1 Quarter
Administrative and general expenses	`GeneralAndAdministrativeExpense`	$2.51M	USD	2 Qtrs
Administrative and general expenses	`GeneralAndAdministrativeExpense`	$2.53M	USD	2 Qtrs
Administrative and general expenses	`GeneralAndAdministrativeExpense`	$1.34M	USD	1 Quarter
Administrative and general expenses	`GeneralAndAdministrativeExpense`	$1.31M	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$889.44K	USD	2 Qtrs
Depreciation	`DepreciationAndAmortization`	$782.39K	USD	2 Qtrs
Depreciation	`DepreciationAndAmortization`	$394.98K	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$445.50K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$10.13M	USD	2 Qtrs
Total expenses	`OperatingExpenses`	$10.57M	USD	2 Qtrs
Total expenses	`OperatingExpenses`	$5.37M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$5.27M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-235.68K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-327.85K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-688.94K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-51.40K	USD	2 Qtrs
Investment income	`InvestmentIncomeNet`	$140.92K	USD	2 Qtrs
Investment income	`InvestmentIncomeNet`	$166.16K	USD	2 Qtrs
Investment income	`InvestmentIncomeNet`	$75.92K	USD	1 Quarter
Investment income	`InvestmentIncomeNet`	$76.94K	USD	1 Quarter
Change in fair value of marketable securities	`MarketableSecuritiesUnrealizedGainLoss`	$63.25K	USD	2 Qtrs
Change in fair value of marketable securities	`MarketableSecuritiesUnrealizedGainLoss`	$238.97K	USD	1 Quarter
Change in fair value of marketable securities	`MarketableSecuritiesUnrealizedGainLoss`	$24.02K	USD	2 Qtrs
Change in fair value of marketable securities	`MarketableSecuritiesUnrealizedGainLoss`	$82.54K	USD	1 Quarter
Interest expense	`InterestExpense`	$82.16K	USD	1 Quarter
Interest expense	`InterestExpense`	$167.77K	USD	2 Qtrs
Interest expense	`InterestExpense`	$54.50K	USD	2 Qtrs
Interest expense	`InterestExpense`	$27.05K	USD	1 Quarter
Total investment income and interest expense	`NonoperatingIncomeExpense`	$22.41K	USD	2 Qtrs
Total investment income and interest expense	`NonoperatingIncomeExpense`	$233.75K	USD	1 Quarter
Total investment income and interest expense	`NonoperatingIncomeExpense`	$149.67K	USD	2 Qtrs
Total investment income and interest expense	`NonoperatingIncomeExpense`	$131.40K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-94.11K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-104.28K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-666.53K	USD	2 Qtrs
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$98.26K	USD	2 Qtrs
Income taxes (benefit)	`IncomeTaxExpenseBenefit`	$-47.00K	USD	1 Quarter
Income taxes (benefit)	`IncomeTaxExpenseBenefit`	$-197.00K	USD	2 Qtrs
Income taxes (benefit)	`IncomeTaxExpenseBenefit`	$-40.00K	USD	1 Quarter
Income taxes (benefit)	`IncomeTaxExpenseBenefit`	$27.00K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-469.53K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-57.28K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$71.26K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-54.11K	USD	1 Quarter
Income (loss) per common share, basic and diluted	`EarningsPerShareBasic`	$-0.02	USD	1 Quarter
Income (loss) per common share, basic and diluted	`EarningsPerShareBasic`	$-0.23	USD	2 Qtrs
Income (loss) per common share, basic and diluted	`EarningsPerShareBasic`	$0.04	USD	2 Qtrs
Income (loss) per common share, basic and diluted	`EarningsPerShareBasic`	$-0.02	USD	1 Quarter
Average common shares outstanding, basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	2.02M	shares	2 Qtrs
Average common shares outstanding, basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	2.02M	shares	1 Quarter
Average common shares outstanding, basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	2.02M	shares	2 Qtrs
Average common shares outstanding, basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	2.02M	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-469.53K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-57.28K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$71.26K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-54.11K	USD	1 Quarter
Bad debt expense	`IncreaseDecreaseBadDebtExpense`	$40.29K	USD	2 Qtrs
Bad debt expense	`IncreaseDecreaseBadDebtExpense`	$74.00K	USD	2 Qtrs
Provision (Benefit) for deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-27.00K	USD	2 Qtrs
Provision (Benefit) for deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$197.00K	USD	2 Qtrs
Disposition of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	2 Qtrs
Disposition of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-54.12K	USD	2 Qtrs
Depreciation	`OtherDepreciationAndAmortization`	$889.44K	USD	2 Qtrs
Depreciation	`OtherDepreciationAndAmortization`	$782.39K	USD	2 Qtrs
Amortization of deferred charges	`AmortizationOfDeferredCharges`	$139.60K	USD	2 Qtrs
Amortization of deferred charges	`AmortizationOfDeferredCharges`	$193.20K	USD	2 Qtrs
Operating lease expense in excess of cash payments	`OperatingLeaseExpenseInExcessOfCashPayments`	$559.25K	USD	2 Qtrs
Operating lease expense in excess of cash payments	`OperatingLeaseExpenseInExcessOfCashPayments`	$675.81K	USD	2 Qtrs
Deferred finance costs included in interest expense	`AmortizationOfFinancingCosts`	$15.40K	USD	2 Qtrs
Deferred finance costs included in interest expense	`AmortizationOfFinancingCosts`	$19.06K	USD	2 Qtrs
Deferred Charges	`IncreaseDecreaseInDeferredCharges`	-	USD	2 Qtrs
Deferred Charges	`IncreaseDecreaseInDeferredCharges`	$1.14M	USD	2 Qtrs
Net realized and unrealized (gain) on marketable securities	`GainLossOnInvestments`	$107.19K	USD	2 Qtrs
Net realized and unrealized (gain) on marketable securities	`GainLossOnInvestments`	$110.23K	USD	2 Qtrs
Receivables	`IncreaseDecreaseInAccountsReceivable`	$-41.00K	USD	2 Qtrs
Receivables	`IncreaseDecreaseInAccountsReceivable`	$525.83K	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-142.11K	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-58.95K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$767.18K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$519.49K	USD	2 Qtrs
Security deposits payable	`IncreaseDecreaseInSecurityDeposits`	$60.00K	USD	2 Qtrs
Security deposits payable	`IncreaseDecreaseInSecurityDeposits`	$-58.45K	USD	2 Qtrs
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.39M	USD	2 Qtrs
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$134.98K	USD	2 Qtrs
Property and equipment costs	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.42M	USD	2 Qtrs
Property and equipment costs	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.49M	USD	2 Qtrs
Receipts from sales	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$447.24K	USD	2 Qtrs
Receipts from sales	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$494.99K	USD	2 Qtrs
Payments for purchases	`PaymentsToAcquireMarketableSecurities`	$566.97K	USD	2 Qtrs
Payments for purchases	`PaymentsToAcquireMarketableSecurities`	$527.05K	USD	2 Qtrs
Cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.50M	USD	2 Qtrs
Cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.57M	USD	2 Qtrs
Proceeds from borrowing - mortgage	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	2 Qtrs
Proceeds from borrowing - mortgage	`ProceedsFromIssuanceOfLongTermDebt`	$144.08K	USD	2 Qtrs
Payments - mortgage and other debt	`RepaymentsOfLongTermDebt`	$566.57K	USD	2 Qtrs
Payments - mortgage and other debt	`RepaymentsOfLongTermDebt`	$122.87K	USD	2 Qtrs
Mortgage financing cost paid	`PaymentsOfLoanCosts`	-	USD	2 Qtrs
Mortgage financing cost paid	`PaymentsOfLoanCosts`	$118.57K	USD	2 Qtrs
Cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-566.57K	USD	2 Qtrs
Cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-97.36K	USD	2 Qtrs
Decrease in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-1.21M	USD	2 Qtrs
Decrease in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-2.00M	USD	2 Qtrs
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$4.40M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.26M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.41M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$4.05M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$4.40M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.26M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.41M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$4.05M	USD	Point-in-time

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$54.74M	USD	Point-in-time
Balance	`StockholdersEquity`	$53.29M	USD	Point-in-time
Balance	`StockholdersEquity`	$53.70M	USD	Point-in-time
Balance	`StockholdersEquity`	$54.68M	USD	Point-in-time
Balance	`StockholdersEquity`	$54.61M	USD	Point-in-time
Balance	`StockholdersEquity`	$53.23M	USD	Point-in-time
Net income (loss)	`NetIncomeLoss`	$-469.53K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-57.28K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$71.26K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-54.11K	USD	1 Quarter
Balance	`StockholdersEquity`	$54.74M	USD	Point-in-time
Balance	`StockholdersEquity`	$53.29M	USD	Point-in-time
Balance	`StockholdersEquity`	$53.70M	USD	Point-in-time
Balance	`StockholdersEquity`	$54.68M	USD	Point-in-time
Balance	`StockholdersEquity`	$54.61M	USD	Point-in-time
Balance	`StockholdersEquity`	$53.23M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.