10-Q Filing

MAYS J W INC CIK: 54187 Q2 2022

Filing Information

Form Type	10-Q
Accession Number	`0001206774-22-000649`
Period End Date	20220131
Filing Date	20220310
Fiscal Year	2022
Fiscal Period	Q2
XBRL Instance	jwmays4015852-10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 69 Income Statement 68 Cash Flow Statement 56 Stockholders Equity 16

Balance Sheet 69 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
Common stock, shares issued	`CommonStockSharesIssued`	2.18M	shares	Point-in-time
Land	`Land`	$6.07M	USD	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`	$75.48M	USD	Point-in-time
Buildings, improvements and fixtures	`BuildingsAndImprovementsGross`	$74.55M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$2.24M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$2.15M	USD	Point-in-time
Property, Plant and Equipment, Gross	`PropertyPlantAndEquipmentGross`	$77.63M	USD	Point-in-time
Property, Plant and Equipment, Gross	`PropertyPlantAndEquipmentGross`	$76.79M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$34.79M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$35.66M	USD	Point-in-time
Buildings - net	`BuildingsNet`	$42.00M	USD	Point-in-time
Buildings - net	`BuildingsNet`	$41.97M	USD	Point-in-time
Property and equipment-net	`PropertyPlantAndEquipmentNet`	$48.03M	USD	Point-in-time
Property and equipment-net	`PropertyPlantAndEquipmentNet`	$48.07M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.15M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.49M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.55M	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`	$2.42M	USD	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$2.63M	USD	Point-in-time
Marketable securities	`MarketableSecurities`	$3.44M	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`	$2.18M	USD	Point-in-time
Deferred charges, net	`DeferredCostsLeasingGross`	$3.74M	USD	Point-in-time
Deferred charges, net	`DeferredCostsLeasingGross`	$3.45M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$33.30M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$34.57M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$97.51M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$95.07M	USD	Point-in-time
Mortgages payable	`LoansPayableToBank`	$7.52M	USD	Point-in-time
Mortgages payable	`LoansPayableToBank`	$6.95M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesNoncurrent`	$2.26M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesNoncurrent`	$2.63M	USD	Point-in-time
Security deposits payable	`SecurityDepositsPayableNonCurrent`	$811.36K	USD	Point-in-time
Security deposits payable	`SecurityDepositsPayableNonCurrent`	$834.47K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiability`	$27.18M	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`	$4.36M	USD	Point-in-time
Total Liabilities	`Liabilities`	$43.41M	USD	Point-in-time
Total Liabilities	`Liabilities`	$41.56M	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`	$49.86M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$49.28M	USD	Point-in-time
Stockholders' Equity before Treasury Stock	`StockholdersEquityBeforeTreasuryStock`	$54.80M	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 January 31, 2022 and July 31, 2021	`TreasuryStockValue`	$1.29M	USD	Point-in-time
Common stock held in treasury, at cost - 162,517 shares at January 31, 2022 and July 31, 2021	`TreasuryStockValue`	$1.29M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$53.23M	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`	$54.10M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$53.29M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$53.51M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$97.51M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$95.07M	USD	Point-in-time

Income Statement 68 line items

Line Item	Tag	Value	Unit	Period
Rental income	`OperatingLeasesIncomeStatementLeaseRevenues`	$10.41M	USD	2 Qtrs
Rental income	`OperatingLeasesIncomeStatementLeaseRevenues`	$9.88M	USD	2 Qtrs
Rental income	`OperatingLeasesIncomeStatementLeaseRevenues`	$5.33M	USD	1 Quarter
Rental income	`OperatingLeasesIncomeStatementLeaseRevenues`	$5.05M	USD	1 Quarter
Total revenues	`Revenues`	$10.41M	USD	2 Qtrs
Total revenues	`Revenues`	$5.33M	USD	1 Quarter
Total revenues	`Revenues`	$5.05M	USD	1 Quarter
Total revenues	`Revenues`	$9.88M	USD	2 Qtrs
Real estate operating expenses	`OperatingCostsAndExpenses`	$7.30M	USD	2 Qtrs
Real estate operating expenses	`OperatingCostsAndExpenses`	$7.17M	USD	2 Qtrs
Real estate operating expenses	`OperatingCostsAndExpenses`	$3.59M	USD	1 Quarter
Real estate operating expenses	`OperatingCostsAndExpenses`	$3.67M	USD	1 Quarter
Administrative and general expenses	`GeneralAndAdministrativeExpense`	$2.51M	USD	2 Qtrs
Administrative and general expenses	`GeneralAndAdministrativeExpense`	$2.82M	USD	2 Qtrs
Administrative and general expenses	`GeneralAndAdministrativeExpense`	$1.42M	USD	1 Quarter
Administrative and general expenses	`GeneralAndAdministrativeExpense`	$1.34M	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$903.68K	USD	2 Qtrs
Depreciation	`DepreciationAndAmortization`	$889.44K	USD	2 Qtrs
Depreciation	`DepreciationAndAmortization`	$452.41K	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$445.50K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$11.03M	USD	2 Qtrs
Total expenses	`OperatingExpenses`	$5.37M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$5.54M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$10.57M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-617.50K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-211.54K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-688.94K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-327.85K	USD	1 Quarter
Investment income	`InvestmentIncomeNet`	$198.53K	USD	1 Quarter
Investment income	`InvestmentIncomeNet`	$76.94K	USD	1 Quarter
Investment income	`InvestmentIncomeNet`	$205.30K	USD	2 Qtrs
Investment income	`InvestmentIncomeNet`	$166.16K	USD	2 Qtrs
Change in fair value of marketable securities	`MarketableSecuritiesUnrealizedGainLoss`	$-236.74K	USD	2 Qtrs
Change in fair value of marketable securities	`MarketableSecuritiesUnrealizedGainLoss`	$24.02K	USD	2 Qtrs
Change in fair value of marketable securities	`MarketableSecuritiesUnrealizedGainLoss`	$238.97K	USD	1 Quarter
Change in fair value of marketable securities	`MarketableSecuritiesUnrealizedGainLoss`	$-183.61K	USD	1 Quarter
Interest expense	`InterestExpense`	$78.21K	USD	1 Quarter
Interest expense	`InterestExpense`	$158.65K	USD	2 Qtrs
Interest expense	`InterestExpense`	$82.16K	USD	1 Quarter
Interest expense	`InterestExpense`	$167.77K	USD	2 Qtrs
Total investment income and interest expense	`NonoperatingIncomeExpense`	$22.41K	USD	2 Qtrs
Total investment income and interest expense	`NonoperatingIncomeExpense`	$-190.08K	USD	2 Qtrs
Total investment income and interest expense	`NonoperatingIncomeExpense`	$233.75K	USD	1 Quarter
Total investment income and interest expense	`NonoperatingIncomeExpense`	$-63.29K	USD	1 Quarter
Loss from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-274.83K	USD	1 Quarter
Loss from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-94.11K	USD	1 Quarter
Loss from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-807.58K	USD	2 Qtrs
Loss from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-666.53K	USD	2 Qtrs
Income taxes provided (benefit)	`IncomeTaxExpenseBenefit`	$-197.00K	USD	2 Qtrs
Income taxes provided (benefit)	`IncomeTaxExpenseBenefit`	$-221.00K	USD	2 Qtrs
Income taxes provided (benefit)	`IncomeTaxExpenseBenefit`	$-40.00K	USD	1 Quarter
Income taxes provided (benefit)	`IncomeTaxExpenseBenefit`	$-79.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-54.11K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-586.58K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-195.83K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-469.53K	USD	2 Qtrs
Loss per common share, basic and diluted	`EarningsPerShareBasic`	$-0.02	USD	1 Quarter
Loss per common share, basic and diluted	`EarningsPerShareBasic`	$-0.23	USD	2 Qtrs
Loss per common share, basic and diluted	`EarningsPerShareBasic`	$-0.10	USD	1 Quarter
Loss per common share, basic and diluted	`EarningsPerShareBasic`	$-0.29	USD	2 Qtrs
Dividends per share	`CommonStockDividendsPerShareCashPaid`	-	USD	1 Quarter
Dividends per share	`CommonStockDividendsPerShareCashPaid`	-	USD	1 Quarter
Dividends per share	`CommonStockDividendsPerShareCashPaid`	-	USD	2 Qtrs
Dividends per share	`CommonStockDividendsPerShareCashPaid`	-	USD	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	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	2 Qtrs

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-54.11K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-586.58K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-195.83K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-469.53K	USD	2 Qtrs
Bad debt expense (recoveries)	`IncreaseDecreaseBadDebtExpense`	$219.35K	USD	2 Qtrs
Bad debt expense (recoveries)	`IncreaseDecreaseBadDebtExpense`	$74.00K	USD	2 Qtrs
Provision (Benefit) for deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$197.00K	USD	2 Qtrs
Provision (Benefit) for deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$221.00K	USD	2 Qtrs
Depreciation	`OtherDepreciationAndAmortization`	$903.68K	USD	2 Qtrs
Depreciation	`OtherDepreciationAndAmortization`	$889.44K	USD	2 Qtrs
Amortization of deferred charges	`AmortizationOfDeferredCharges`	$285.21K	USD	2 Qtrs
Amortization of deferred charges	`AmortizationOfDeferredCharges`	$193.20K	USD	2 Qtrs
Operating lease expense in excess of cash payments	`OperatingLeaseExpenseInExcessOfCashPayments`	$610.14K	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`	$19.06K	USD	2 Qtrs
Deferred finance costs included in interest expense	`AmortizationOfFinancingCosts`	$19.06K	USD	2 Qtrs
Net realized gain on marketable securities	`GainLossOnInvestments`	$48.21K	USD	2 Qtrs
Net realized gain on marketable securities	`GainLossOnInvestments`	$83.18K	USD	2 Qtrs
Net unrealized (gain) loss on marketable securities	`MarketableSecuritiesUnrealizedGainLoss`	$-236.74K	USD	2 Qtrs
Net unrealized (gain) loss on marketable securities	`MarketableSecuritiesUnrealizedGainLoss`	$24.02K	USD	2 Qtrs
Net unrealized (gain) loss on marketable securities	`MarketableSecuritiesUnrealizedGainLoss`	$238.97K	USD	1 Quarter
Net unrealized (gain) loss on marketable securities	`MarketableSecuritiesUnrealizedGainLoss`	$-183.61K	USD	1 Quarter
Deferred Charges	`IncreaseDecreaseInDeferredCharges`	$1.14M	USD	2 Qtrs
Deferred Charges	`IncreaseDecreaseInDeferredCharges`	-	USD	2 Qtrs
Receivables	`IncreaseDecreaseInAccountsReceivable`	$430.88K	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`	$-203.16K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-369.90K	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`	$-23.11K	USD	2 Qtrs
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$134.98K	USD	2 Qtrs
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$797.65K	USD	2 Qtrs
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$871.99K	USD	2 Qtrs
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.49M	USD	2 Qtrs
Receipts from sales	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$400.25K	USD	2 Qtrs
Receipts from sales	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$494.99K	USD	2 Qtrs
Payments for purchases	`PaymentsToAcquireMarketableSecurities`	$127.41K	USD	2 Qtrs
Payments for purchases	`PaymentsToAcquireMarketableSecurities`	$566.97K	USD	2 Qtrs
Cash (used) in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.57M	USD	2 Qtrs
Cash (used) in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-599.15K	USD	2 Qtrs
Payments - mortgage and other debt payments	`RepaymentsOfLongTermDebt`	$592.12K	USD	2 Qtrs
Payments - mortgage and other debt payments	`RepaymentsOfLongTermDebt`	$566.57K	USD	2 Qtrs
Net cash (used) in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-566.57K	USD	2 Qtrs
Net cash (used) in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-592.12K	USD	2 Qtrs
Decrease in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-2.00M	USD	2 Qtrs
Decrease in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-393.62K	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`	$2.41M	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 beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.04M	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`	$2.41M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.43M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.04M	USD	Point-in-time

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$53.23M	USD	Point-in-time
Balance	`StockholdersEquity`	$53.71M	USD	Point-in-time
Balance	`StockholdersEquity`	$53.70M	USD	Point-in-time
Balance	`StockholdersEquity`	$54.10M	USD	Point-in-time
Balance	`StockholdersEquity`	$53.29M	USD	Point-in-time
Balance	`StockholdersEquity`	$53.51M	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-54.11K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-586.58K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-195.83K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-469.53K	USD	2 Qtrs
Balance	`StockholdersEquity`	$53.23M	USD	Point-in-time
Balance	`StockholdersEquity`	$53.71M	USD	Point-in-time
Balance	`StockholdersEquity`	$53.70M	USD	Point-in-time
Balance	`StockholdersEquity`	$54.10M	USD	Point-in-time
Balance	`StockholdersEquity`	$53.29M	USD	Point-in-time
Balance	`StockholdersEquity`	$53.51M	USD	Point-in-time

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