10-Q Filing

MAYS J W INC CIK: 54187 Q3 2022

Filing Information

Form Type	10-Q
Accession Number	`0001206774-22-001497`
Period End Date	20220430
Filing Date	20220609
Fiscal Year	2022
Fiscal Period	Q3
XBRL Instance	jwmays4015855-10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 69 Income Statement 68 Cash Flow Statement 54 Stockholders Equity 16

Balance Sheet 69 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Common stock, par value (in Dollars per share)	`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`	$75.55M	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`	$2.57M	USD	Point-in-time
Property, Plant and Equipment, Gross	`PropertyPlantAndEquipmentGross`	$78.11M	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`	$36.04M	USD	Point-in-time
Buildings - net	`BuildingsNet`	$42.00M	USD	Point-in-time
Buildings - net	`BuildingsNet`	$42.08M	USD	Point-in-time
Property and equipment-net	`PropertyPlantAndEquipmentNet`	$48.07M	USD	Point-in-time
Property and equipment-net	`PropertyPlantAndEquipmentNet`	$48.14M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.91M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.32M	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`	$1.07M	USD	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$2.44M	USD	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$2.42M	USD	Point-in-time
Marketable securities	`MarketableSecurities`	$3.37M	USD	Point-in-time
Marketable securities	`MarketableSecurities`	$3.90M	USD	Point-in-time
Prepaids and other assets	`PrepaidExpenseCurrent`	$1.22M	USD	Point-in-time
Prepaids and other assets	`PrepaidExpenseCurrent`	$2.38M	USD	Point-in-time
Deferred charges, net	`DeferredCostsLeasingGross`	$3.74M	USD	Point-in-time
Deferred charges, net	`DeferredCostsLeasingGross`	$3.34M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$34.57M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$32.66M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$94.16M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$97.51M	USD	Point-in-time
Mortgages payable	`LoansPayableToBank`	$7.52M	USD	Point-in-time
Mortgages payable	`LoansPayableToBank`	$6.65M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesNoncurrent`	$2.63M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesNoncurrent`	$1.88M	USD	Point-in-time
Security deposits payable	`SecurityDepositsPayableNonCurrent`	$834.47K	USD	Point-in-time
Security deposits payable	`SecurityDepositsPayableNonCurrent`	$985.26K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiability`	$26.84M	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`	$4.34M	USD	Point-in-time
Total Liabilities	`Liabilities`	$40.70M	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`	$49.86M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$49.22M	USD	Point-in-time
Stockholders' Equity before Treasury Stock	`StockholdersEquityBeforeTreasuryStock`	$54.74M	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 April 30, 2022 and July 31, 2021	`TreasuryStockValue`	$1.29M	USD	Point-in-time
Common stock held in treasury, at cost - 162,517 shares at April 30, 2022 and July 31, 2021	`TreasuryStockValue`	$1.29M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$53.19M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$54.10M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$53.23M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$53.51M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$53.70M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$53.46M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$94.16M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$97.51M	USD	Point-in-time

Income Statement 68 line items

Line Item	Tag	Value	Unit	Period
Rental income	`OperatingLeasesIncomeStatementLeaseRevenues`	$15.04M	USD	3 Qtrs
Rental income	`OperatingLeasesIncomeStatementLeaseRevenues`	$5.48M	USD	1 Quarter
Rental income	`OperatingLeasesIncomeStatementLeaseRevenues`	$15.89M	USD	3 Qtrs
Rental income	`OperatingLeasesIncomeStatementLeaseRevenues`	$5.16M	USD	1 Quarter
Total revenues	`Revenues`	$15.89M	USD	3 Qtrs
Total revenues	`Revenues`	$5.48M	USD	1 Quarter
Total revenues	`Revenues`	$5.16M	USD	1 Quarter
Total revenues	`Revenues`	$15.04M	USD	3 Qtrs
Real estate operating expenses	`OperatingCostsAndExpenses`	$3.71M	USD	1 Quarter
Real estate operating expenses	`OperatingCostsAndExpenses`	$3.76M	USD	1 Quarter
Real estate operating expenses	`OperatingCostsAndExpenses`	$10.88M	USD	3 Qtrs
Real estate operating expenses	`OperatingCostsAndExpenses`	$11.06M	USD	3 Qtrs
Administrative and general expenses	`GeneralAndAdministrativeExpense`	$3.76M	USD	3 Qtrs
Administrative and general expenses	`GeneralAndAdministrativeExpense`	$1.28M	USD	1 Quarter
Administrative and general expenses	`GeneralAndAdministrativeExpense`	$4.10M	USD	3 Qtrs
Administrative and general expenses	`GeneralAndAdministrativeExpense`	$1.24M	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$421.86K	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$1.34M	USD	3 Qtrs
Depreciation	`DepreciationAndAmortization`	$1.33M	USD	3 Qtrs
Depreciation	`DepreciationAndAmortization`	$445.82K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$5.40M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$15.97M	USD	3 Qtrs
Total expenses	`OperatingExpenses`	$5.47M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$16.49M	USD	3 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$-600.23K	USD	3 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$-931.17K	USD	3 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$-242.24K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$17.27K	USD	1 Quarter
Investment income	`InvestmentIncomeNet`	$208.77K	USD	3 Qtrs
Investment income	`InvestmentIncomeNet`	$7.96K	USD	1 Quarter
Investment income	`InvestmentIncomeNet`	$3.47K	USD	1 Quarter
Investment income	`InvestmentIncomeNet`	$174.12K	USD	3 Qtrs
Change in fair value of marketable securities	`ChangeInFairValueOfMarketableSecurities`	$-61.16K	USD	1 Quarter
Change in fair value of marketable securities	`ChangeInFairValueOfMarketableSecurities`	$-297.90K	USD	3 Qtrs
Change in fair value of marketable securities	`ChangeInFairValueOfMarketableSecurities`	$276.75K	USD	3 Qtrs
Change in fair value of marketable securities	`ChangeInFairValueOfMarketableSecurities`	$252.74K	USD	1 Quarter
Interest expense	`InterestExpense`	$33.62K	USD	1 Quarter
Interest expense	`InterestExpense`	$254.15K	USD	3 Qtrs
Interest expense	`InterestExpense`	$86.38K	USD	1 Quarter
Interest expense	`InterestExpense`	$192.26K	USD	3 Qtrs
Total investment income and interest expense	`NonoperatingIncomeExpense`	$-91.31K	USD	1 Quarter
Total investment income and interest expense	`NonoperatingIncomeExpense`	$196.72K	USD	3 Qtrs
Total investment income and interest expense	`NonoperatingIncomeExpense`	$-281.39K	USD	3 Qtrs
Total investment income and interest expense	`NonoperatingIncomeExpense`	$174.31K	USD	1 Quarter
Loss from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-74.04K	USD	1 Quarter
Loss from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-734.45K	USD	3 Qtrs
Loss from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-67.92K	USD	1 Quarter
Loss from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-881.62K	USD	3 Qtrs
Income taxes provided (benefit)	`IncomeTaxExpenseBenefit`	$-17.00K	USD	1 Quarter
Income taxes provided (benefit)	`IncomeTaxExpenseBenefit`	$-238.00K	USD	3 Qtrs
Income taxes provided (benefit)	`IncomeTaxExpenseBenefit`	$-26.00K	USD	1 Quarter
Income taxes provided (benefit)	`IncomeTaxExpenseBenefit`	$-223.00K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-643.62K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-511.45K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-41.92K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-57.04K	USD	1 Quarter
Loss per common share, basic and diluted (in Dollars per share)	`EarningsPerShareBasic`	$-0.02	USD	1 Quarter
Loss per common share, basic and diluted (in Dollars per share)	`EarningsPerShareBasic`	$-0.32	USD	3 Qtrs
Loss per common share, basic and diluted (in Dollars per share)	`EarningsPerShareBasic`	$-0.25	USD	3 Qtrs
Loss per common share, basic and diluted (in Dollars per share)	`EarningsPerShareBasic`	$-0.03	USD	1 Quarter
Dividends per share (in Dollars per share)	`CommonStockDividendsPerShareCashPaid`	-	USD	1 Quarter
Dividends per share (in Dollars per share)	`CommonStockDividendsPerShareCashPaid`	-	USD	3 Qtrs
Dividends per share (in Dollars per share)	`CommonStockDividendsPerShareCashPaid`	-	USD	1 Quarter
Dividends per share (in Dollars per share)	`CommonStockDividendsPerShareCashPaid`	-	USD	3 Qtrs
Average common shares outstanding, basic and diluted (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	2.02M	shares	1 Quarter
Average common shares outstanding, basic and diluted (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	2.02M	shares	3 Qtrs
Average common shares outstanding, basic and diluted (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	2.02M	shares	1 Quarter
Average common shares outstanding, basic and diluted (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	2.02M	shares	3 Qtrs

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-643.62K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-511.45K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-41.92K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-57.04K	USD	1 Quarter
Bad debt expense (recoveries)	`IncreaseDecreaseBadDebtExpense`	$214.35K	USD	3 Qtrs
Bad debt expense (recoveries)	`IncreaseDecreaseBadDebtExpense`	$209.00K	USD	3 Qtrs
Provision (Benefit) for deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$223.00K	USD	3 Qtrs
Provision (Benefit) for deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$238.00K	USD	3 Qtrs
Depreciation	`OtherDepreciationAndAmortization`	$1.34M	USD	3 Qtrs
Depreciation	`OtherDepreciationAndAmortization`	$1.33M	USD	3 Qtrs
Amortization of deferred charges	`AmortizationOfDeferredCharges`	$394.51K	USD	3 Qtrs
Amortization of deferred charges	`AmortizationOfDeferredCharges`	$291.20K	USD	3 Qtrs
Operating lease expense in excess of cash payments	`OperatingLeaseExpenseInExcessOfCashPayments`	$913.06K	USD	3 Qtrs
Operating lease expense in excess of cash payments	`OperatingLeaseExpenseInExcessOfCashPayments`	$1.00M	USD	3 Qtrs
Deferred finance costs included in interest expense	`AmortizationOfFinancingCosts`	$28.58K	USD	3 Qtrs
Deferred finance costs included in interest expense	`AmortizationOfFinancingCosts`	$28.58K	USD	3 Qtrs
Net realized (gain) on marketable securities	`GainLossOnInvestments`	$48.21K	USD	3 Qtrs
Net realized (gain) on marketable securities	`GainLossOnInvestments`	$276.75K	USD	3 Qtrs
Net unrealized (gain) loss on marketable securities	`MarketableSecuritiesUnrealizedGainLoss`	$83.18K	USD	3 Qtrs
Net unrealized (gain) loss on marketable securities	`MarketableSecuritiesUnrealizedGainLoss`	$-297.90K	USD	3 Qtrs
Deferred Charges	`IncreaseDecreaseInDeferredCharges`	-	USD	3 Qtrs
Deferred Charges	`IncreaseDecreaseInDeferredCharges`	$1.14M	USD	3 Qtrs
Receivables	`IncreaseDecreaseInAccountsReceivable`	$367.65K	USD	3 Qtrs
Receivables	`IncreaseDecreaseInAccountsReceivable`	$241.02K	USD	3 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.17M	USD	3 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.14M	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$85.92K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-757.00K	USD	3 Qtrs
Security deposits payable	`IncreaseDecreaseInSecurityDeposits`	$150.79K	USD	3 Qtrs
Security deposits payable	`IncreaseDecreaseInSecurityDeposits`	$4.44K	USD	3 Qtrs
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.50M	USD	3 Qtrs
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.56M	USD	3 Qtrs
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.78M	USD	3 Qtrs
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.40M	USD	3 Qtrs
Receipts from sales	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$494.99K	USD	3 Qtrs
Receipts from sales	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$400.25K	USD	3 Qtrs
Payments for purchases	`PaymentsToAcquireMarketableSecurities`	$581.47K	USD	3 Qtrs
Payments for purchases	`PaymentsToAcquireMarketableSecurities`	$123.80K	USD	3 Qtrs
Cash (used) in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.87M	USD	3 Qtrs
Cash (used) in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.13M	USD	3 Qtrs
Payments - mortgage and other debt payments	`RepaymentsOfLongTermDebt`	$855.61K	USD	3 Qtrs
Payments - mortgage and other debt payments	`RepaymentsOfLongTermDebt`	$893.90K	USD	3 Qtrs
Net cash (used) in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-893.90K	USD	3 Qtrs
Net cash (used) in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-855.61K	USD	3 Qtrs
Increase (decrease) in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-1.23M	USD	3 Qtrs
Increase (decrease) in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$542.13K	USD	3 Qtrs
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`	$2.98M	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`	$3.18M	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`	$2.98M	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`	$3.18M	USD	Point-in-time

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$53.19M	USD	Point-in-time
Balance	`StockholdersEquity`	$54.10M	USD	Point-in-time
Balance	`StockholdersEquity`	$53.23M	USD	Point-in-time
Balance	`StockholdersEquity`	$53.51M	USD	Point-in-time
Balance	`StockholdersEquity`	$53.70M	USD	Point-in-time
Balance	`StockholdersEquity`	$53.46M	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-643.62K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-511.45K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-41.92K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-57.04K	USD	1 Quarter
Balance	`StockholdersEquity`	$53.19M	USD	Point-in-time
Balance	`StockholdersEquity`	$54.10M	USD	Point-in-time
Balance	`StockholdersEquity`	$53.23M	USD	Point-in-time
Balance	`StockholdersEquity`	$53.51M	USD	Point-in-time
Balance	`StockholdersEquity`	$53.70M	USD	Point-in-time
Balance	`StockholdersEquity`	$53.46M	USD	Point-in-time

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