10-Q Filing

MAYS J W INC CIK: 54187 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001206774-21-002839`
Period End Date	20211031
Filing Date	20211209
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	jwmays39064911-10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 34 Cash Flow Statement 48 Stockholders Equity 10

Balance Sheet 67 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
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
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`	$74.55M	USD	Point-in-time
Buildings, improvements and fixtures	`BuildingsAndImprovementsGross`	$74.89M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$2.24M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$2.37M	USD	Point-in-time
Property, Plant and Equipment, Gross	`PropertyPlantAndEquipmentGross`	$76.79M	USD	Point-in-time
Property, Plant and Equipment, Gross	`PropertyPlantAndEquipmentGross`	$77.25M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$35.24M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$34.79M	USD	Point-in-time
Buildings - net	`BuildingsNet`	$42.00M	USD	Point-in-time
Buildings - net	`BuildingsNet`	$42.01M	USD	Point-in-time
Property and equipment-net	`PropertyPlantAndEquipmentNet`	$48.08M	USD	Point-in-time
Property and equipment-net	`PropertyPlantAndEquipmentNet`	$48.07M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.10M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.55M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.82M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$882.33K	USD	Point-in-time
Restricted cash	`RestrictedCash`	$890.32K	USD	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$2.31M	USD	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$2.42M	USD	Point-in-time
Marketable securities	`MarketableSecurities`	$3.85M	USD	Point-in-time
Marketable securities	`MarketableSecurities`	$3.90M	USD	Point-in-time
Prepaids and other assets	`PrepaidExpenseCurrent`	$2.38M	USD	Point-in-time
Prepaids and other assets	`PrepaidExpenseCurrent`	$1.33M	USD	Point-in-time
Deferred charges, net	`DeferredCostsLeasingGross`	$3.55M	USD	Point-in-time
Deferred charges, net	`DeferredCostsLeasingGross`	$3.74M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$34.57M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$33.93M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$96.04M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$97.51M	USD	Point-in-time
Mortgages payable	`LoansPayableToBank`	$7.23M	USD	Point-in-time
Mortgages payable	`LoansPayableToBank`	$7.52M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesNoncurrent`	$2.63M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesNoncurrent`	$2.30M	USD	Point-in-time
Security deposits payable	`SecurityDepositsPayableNonCurrent`	$842.46K	USD	Point-in-time
Security deposits payable	`SecurityDepositsPayableNonCurrent`	$834.47K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiability`	$27.51M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiability`	$27.84M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$4.58M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$4.44M	USD	Point-in-time
Total Liabilities	`Liabilities`	$42.33M	USD	Point-in-time
Total Liabilities	`Liabilities`	$43.41M	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`	$49.86M	USD	Point-in-time
Stockholders' Equity before Treasury Stock	`StockholdersEquityBeforeTreasuryStock`	$55.00M	USD	Point-in-time
Stockholders' Equity before Treasury Stock	`StockholdersEquityBeforeTreasuryStock`	$55.39M	USD	Point-in-time
Common stock held in treasury, at cost - 162,517 shares at October 31, 2021 and July 31, 2021	`TreasuryStockValue`	$1.29M	USD	Point-in-time
Common stock held in treasury, at cost - 162,517 shares at October 31, 2021 and July 31, 2021	`TreasuryStockValue`	$1.29M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$53.71M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$53.70M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$53.29M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$54.10M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$97.51M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$96.04M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Rental income	`OperatingLeasesIncomeStatementLeaseRevenues`	$5.08M	USD	1 Quarter
Rental income	`OperatingLeasesIncomeStatementLeaseRevenues`	$4.83M	USD	1 Quarter
Total revenues	`Revenues`	$4.83M	USD	1 Quarter
Total revenues	`Revenues`	$5.08M	USD	1 Quarter
Real estate operating expenses	`OperatingCostsAndExpenses`	$3.58M	USD	1 Quarter
Real estate operating expenses	`OperatingCostsAndExpenses`	$3.63M	USD	1 Quarter
Administrative and general expenses	`GeneralAndAdministrativeExpense`	$1.40M	USD	1 Quarter
Administrative and general expenses	`GeneralAndAdministrativeExpense`	$1.17M	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$451.27K	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$443.94K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$5.20M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$5.49M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-361.08K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-405.96K	USD	1 Quarter
Investment income	`InvestmentIncomeNet`	$6.77K	USD	1 Quarter
Investment income	`InvestmentIncomeNet`	$89.23K	USD	1 Quarter
Change in fair value of marketable securities	`MarketableSecuritiesUnrealizedGainLoss`	$-214.95K	USD	1 Quarter
Change in fair value of marketable securities	`MarketableSecuritiesUnrealizedGainLoss`	$-53.13K	USD	1 Quarter
Interest expense	`InterestExpense`	$85.61K	USD	1 Quarter
Interest expense	`InterestExpense`	$80.43K	USD	1 Quarter
Total investment income and interest expense	`NonoperatingIncomeExpense`	$-211.34K	USD	1 Quarter
Total investment income and interest expense	`NonoperatingIncomeExpense`	$-126.79K	USD	1 Quarter
Loss from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-532.75K	USD	1 Quarter
Loss from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-572.42K	USD	1 Quarter
Income taxes provided (benefit)	`IncomeTaxExpenseBenefit`	$-157.00K	USD	1 Quarter
Income taxes provided (benefit)	`IncomeTaxExpenseBenefit`	$-142.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-415.42K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-390.75K	USD	1 Quarter
Loss per common share, basic and diluted	`EarningsPerShareBasic`	$-0.19	USD	1 Quarter
Loss per common share, basic and diluted	`EarningsPerShareBasic`	$-0.21	USD	1 Quarter
Dividends per share	`CommonStockDividendsPerShareCashPaid`	-	USD	1 Quarter
Dividends per share	`CommonStockDividendsPerShareCashPaid`	-	USD	1 Quarter
Average common shares outstanding, basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	2.02M	shares	1 Quarter
Average common shares outstanding, basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	2.02M	shares	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-415.42K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-390.75K	USD	1 Quarter
Bad debt expense (recoveries)	`ProvisionForDoubtfulAccounts`	$207.60K	USD	1 Quarter
Bad debt expense (recoveries)	`ProvisionForDoubtfulAccounts`	$-18.00K	USD	1 Quarter
Provision (Benefit) for deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$142.00K	USD	1 Quarter
Provision (Benefit) for deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$157.00K	USD	1 Quarter
Depreciation	`OtherDepreciationAndAmortization`	$451.27K	USD	1 Quarter
Depreciation	`OtherDepreciationAndAmortization`	$443.94K	USD	1 Quarter
Amortization of deferred charges	`AmortizationOfDeferredCharges`	$95.20K	USD	1 Quarter
Amortization of deferred charges	`AmortizationOfDeferredCharges`	$186.81K	USD	1 Quarter
Operating lease expense in excess of cash payments	`OperatingLeaseExpenseInExcessOfCashPayments`	$305.50K	USD	1 Quarter
Operating lease expense in excess of cash payments	`OperatingLeaseExpenseInExcessOfCashPayments`	$340.38K	USD	1 Quarter
Deferred finance costs included in interest expense	`AmortizationOfFinancingCosts`	$9.53K	USD	1 Quarter
Deferred finance costs included in interest expense	`AmortizationOfFinancingCosts`	$9.63K	USD	1 Quarter
Net realized and unrealized (gain) loss on marketable securities	`GainLossOnInvestments`	$-53.13K	USD	1 Quarter
Net realized and unrealized (gain) loss on marketable securities	`GainLossOnInvestments`	$-131.78K	USD	1 Quarter
Receivables	`IncreaseDecreaseInAccountsReceivable`	$205.47K	USD	1 Quarter
Receivables	`IncreaseDecreaseInAccountsReceivable`	$103.65K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.06M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.24M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-331.88K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-289.71K	USD	1 Quarter
Security deposits payable	`IncreaseDecreaseInSecurityDeposits`	-	USD	1 Quarter
Security deposits payable	`IncreaseDecreaseInSecurityDeposits`	$7.99K	USD	1 Quarter
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.18M	USD	1 Quarter
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.31M	USD	1 Quarter
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$528.91K	USD	1 Quarter
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$462.67K	USD	1 Quarter
Receipts from sales	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$494.99K	USD	1 Quarter
Receipts from sales	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	-	USD	1 Quarter
Payments for purchases	`PaymentsToAcquireMarketableSecurities`	$489.09K	USD	1 Quarter
Payments for purchases	`PaymentsToAcquireMarketableSecurities`	$633.00	USD	1 Quarter
Cash (used) in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-463.31K	USD	1 Quarter
Cash (used) in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-523.01K	USD	1 Quarter
Payments - mortgage and other debt payments	`RepaymentsOfLongTermDebt`	$294.43K	USD	1 Quarter
Payments - mortgage and other debt payments	`RepaymentsOfLongTermDebt`	$281.72K	USD	1 Quarter
Net cash (used) in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-294.43K	USD	1 Quarter
Net cash (used) in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-281.72K	USD	1 Quarter
Increase in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$551.27K	USD	1 Quarter
Increase in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$373.64K	USD	1 Quarter
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$4.78M	USD	Point-in-time
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`	$2.99M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.43M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$4.78M	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`	$2.99M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.43M	USD	Point-in-time

Stockholders Equity 10 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$53.71M	USD	Point-in-time
Balance	`StockholdersEquity`	$53.70M	USD	Point-in-time
Balance	`StockholdersEquity`	$53.29M	USD	Point-in-time
Balance	`StockholdersEquity`	$54.10M	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-415.42K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-390.75K	USD	1 Quarter
Balance	`StockholdersEquity`	$53.71M	USD	Point-in-time
Balance	`StockholdersEquity`	$53.70M	USD	Point-in-time
Balance	`StockholdersEquity`	$53.29M	USD	Point-in-time
Balance	`StockholdersEquity`	$54.10M	USD	Point-in-time

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