10-Q Filing

MAYS J W INC CIK: 54187 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001206774-22-002782`
Period End Date	20221031
Filing Date	20221208
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	jwmays40158511-10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 69 Income Statement 38 Cash Flow Statement 45 Stockholders Equity 10

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
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
Common stock held in treasury, at cost	`TreasuryStockShares`	162,517.00	shares	Point-in-time
Common stock held in treasury, at cost	`TreasuryStockShares`	162,517.00	shares	Point-in-time
Common stock held in treasury, at cost	`TreasuryStockShares`	162,517.00	shares	Point-in-time
Common stock held in treasury, at cost	`TreasuryStockShares`	162,517.00	shares	Point-in-time
Buildings, improvements and fixtures	`BuildingsAndImprovementsGross`	$75.79M	USD	Point-in-time
Buildings, improvements and fixtures	`BuildingsAndImprovementsGross`	$77.29M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$2.65M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$1.80M	USD	Point-in-time
Property, Plant and Equipment, Gross	`PropertyPlantAndEquipmentGross`	$78.45M	USD	Point-in-time
Property, Plant and Equipment, Gross	`PropertyPlantAndEquipmentGross`	$79.10M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$36.88M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$36.46M	USD	Point-in-time
Buildings - net	`BuildingNet`	$41.99M	USD	Point-in-time
Buildings - net	`BuildingNet`	$42.22M	USD	Point-in-time
Property and equipment-net	`PropertyPlantAndEquipmentNet`	$48.29M	USD	Point-in-time
Property and equipment-net	`PropertyPlantAndEquipmentNet`	$48.06M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.61M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.10M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.02M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$1.05M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$1.05M	USD	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$2.77M	USD	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$2.47M	USD	Point-in-time
Marketable securities	`MarketableSecurities`	$2.76M	USD	Point-in-time
Marketable securities	`MarketableSecurities`	$2.57M	USD	Point-in-time
Prepaids and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.63M	USD	Point-in-time
Prepaids and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.43M	USD	Point-in-time
Deferred charges, net	`DeferredCostsLeasingGross`	$3.50M	USD	Point-in-time
Deferred charges, net	`DeferredCostsLeasingGross`	$3.61M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$32.11M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$31.46M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$93.38M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$94.01M	USD	Point-in-time
Mortgages payable, net	`LoansPayableToBank`	$6.36M	USD	Point-in-time
Mortgages payable, net	`LoansPayableToBank`	$6.06M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$2.32M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$2.26M	USD	Point-in-time
Security deposits payable	`SecurityDepositsPayableNonCurrent`	$1.04M	USD	Point-in-time
Security deposits payable	`SecurityDepositsPayableNonCurrent`	$1.05M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiability`	$26.26M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiability`	$26.60M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$4.29M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$4.31M	USD	Point-in-time
Total Liabilities	`Liabilities`	$40.62M	USD	Point-in-time
Total Liabilities	`Liabilities`	$39.93M	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	`AdditionalPaidInCapital`	$3.35M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$3.35M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$49.21M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$49.15M	USD	Point-in-time
Stockholders' Equity before Treasury Stock	`StockholdersEquityBeforeTreasuryStock`	$54.74M	USD	Point-in-time
Stockholders' Equity before Treasury Stock	`StockholdersEquityBeforeTreasuryStock`	$54.68M	USD	Point-in-time
Common stock held in treasury, at cost - 162,517 shares at October 31, 2022 and July 31, 2022	`TreasuryStockValue`	$1.29M	USD	Point-in-time
Common stock held in treasury, at cost - 162,517 shares at October 31, 2022 and July 31, 2022	`TreasuryStockValue`	$1.29M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$53.45M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$53.39M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$54.10M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$53.71M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$93.38M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$94.01M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Income (loss) per common share, diluted	`EarningsPerShareDiluted`	$0.03	USD	1 Quarter
Income (loss) per common share, diluted	`EarningsPerShareDiluted`	$-0.19	USD	1 Quarter
Average common shares outstanding, diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.02M	shares	1 Quarter
Rental income	`OperatingLeasesIncomeStatementLeaseRevenues`	$5.77M	USD	1 Quarter
Average common shares outstanding, diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.02M	shares	1 Quarter
Rental income	`OperatingLeasesIncomeStatementLeaseRevenues`	$5.08M	USD	1 Quarter
Total revenues	`Revenues`	$5.08M	USD	1 Quarter
Total revenues	`Revenues`	$5.77M	USD	1 Quarter
Real estate operating expenses	`OperatingCostsAndExpenses`	$3.79M	USD	1 Quarter
Real estate operating expenses	`OperatingCostsAndExpenses`	$3.63M	USD	1 Quarter
Administrative and general expenses	`GeneralAndAdministrativeExpense`	$1.25M	USD	1 Quarter
Administrative and general expenses	`GeneralAndAdministrativeExpense`	$1.40M	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$451.27K	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$418.50K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$5.49M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$5.45M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$315.59K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-405.96K	USD	1 Quarter
Investment income	`InvestmentIncomeNet`	$8.80K	USD	1 Quarter
Investment income	`InvestmentIncomeNet`	$6.77K	USD	1 Quarter
Change in fair value of marketable securities	`ChangeInFairValueOfMarketableSecurities`	$-187.20K	USD	1 Quarter
Change in fair value of marketable securities	`ChangeInFairValueOfMarketableSecurities`	$-53.13K	USD	1 Quarter
Interest expense	`InterestExpense`	$80.43K	USD	1 Quarter
Interest expense	`InterestExpense`	$62.66K	USD	1 Quarter
Total investment income and interest expense	`NonoperatingIncomeExpense`	$-126.79K	USD	1 Quarter
Total investment income and interest expense	`NonoperatingIncomeExpense`	$-241.07K	USD	1 Quarter
Income (loss) from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$74.52K	USD	1 Quarter
Income (loss) from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-532.75K	USD	1 Quarter
Income taxes provided (benefit)	`IncomeTaxExpenseBenefit`	$-142.00K	USD	1 Quarter
Income taxes provided (benefit)	`IncomeTaxExpenseBenefit`	$15.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-390.75K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$59.52K	USD	1 Quarter
Income (loss) per common share, basic (in Dollars per share)	`EarningsPerShareBasic`	$0.03	USD	1 Quarter
Income (loss) per common share, basic (in Dollars per share)	`EarningsPerShareBasic`	$-0.19	USD	1 Quarter
Dividends per share (in Dollars per share)	`CommonStockDividendsPerShareCashPaid`	-	USD	1 Quarter
Dividends per share (in Dollars per share)	`CommonStockDividendsPerShareCashPaid`	-	USD	1 Quarter
Average common shares outstanding, basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	2.02M	shares	1 Quarter
Average common shares outstanding, basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	2.02M	shares	1 Quarter

Cash Flow Statement 45 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-390.75K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$59.52K	USD	1 Quarter
Bad debt expense (recoveries)	`IncreaseDecreaseBadDebtExpense`	$207.60K	USD	1 Quarter
Bad debt expense (recoveries)	`IncreaseDecreaseBadDebtExpense`	$-60.00K	USD	1 Quarter
Provision (benefit) for deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-15.00K	USD	1 Quarter
Provision (benefit) for deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$142.00K	USD	1 Quarter
Depreciation	`OtherDepreciationAndAmortization`	$418.50K	USD	1 Quarter
Depreciation	`OtherDepreciationAndAmortization`	$451.27K	USD	1 Quarter
Amortization of deferred charges	`AmortizationOfDeferredCharges`	$186.81K	USD	1 Quarter
Amortization of deferred charges	`AmortizationOfDeferredCharges`	$112.00K	USD	1 Quarter
Operating lease expense in excess of cash payments	`OperatingLeaseExpenseInExcessOfCashPayments`	$309.11K	USD	1 Quarter
Operating lease expense in excess of cash payments	`OperatingLeaseExpenseInExcessOfCashPayments`	$305.50K	USD	1 Quarter
Deferred finance costs included in interest expense	`AmortizationOfFinancingCosts`	$9.53K	USD	1 Quarter
Deferred finance costs included in interest expense	`AmortizationOfFinancingCosts`	$9.53K	USD	1 Quarter
Net unrealized loss on marketable securities	`MarketableSecuritiesUnrealizedGainLoss`	$-187.20K	USD	1 Quarter
Net unrealized loss on marketable securities	`MarketableSecuritiesUnrealizedGainLoss`	$-53.13K	USD	1 Quarter
Receivables	`IncreaseDecreaseInAccountsReceivable`	$103.65K	USD	1 Quarter
Receivables	`IncreaseDecreaseInAccountsReceivable`	$-365.85K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.06M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.20M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-331.88K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-65.57K	USD	1 Quarter
Security deposits payable	`IncreaseDecreaseInSecurityDeposits`	$7.99K	USD	1 Quarter
Security deposits payable	`IncreaseDecreaseInSecurityDeposits`	$-9.26K	USD	1 Quarter
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.31M	USD	1 Quarter
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.54M	USD	1 Quarter
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$462.67K	USD	1 Quarter
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$648.12K	USD	1 Quarter
Payments for purchases	`PaymentsToAcquireMarketableSecurities`	$633.00	USD	1 Quarter
Cash (used) in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-648.12K	USD	1 Quarter
Cash (used) in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-463.31K	USD	1 Quarter
Payments - mortgage and other debt payments	`RepaymentsOfLongTermDebt`	$307.70K	USD	1 Quarter
Payments - mortgage and other debt payments	`RepaymentsOfLongTermDebt`	$294.43K	USD	1 Quarter
Net cash (used) in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-307.70K	USD	1 Quarter
Net cash (used) in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-294.43K	USD	1 Quarter
Increase in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$1.59M	USD	1 Quarter
Increase in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$551.27K	USD	1 Quarter
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.07M	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`	$3.66M	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`	$2.07M	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`	$3.66M	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`	$53.45M	USD	Point-in-time
Balance	`StockholdersEquity`	$53.39M	USD	Point-in-time
Balance	`StockholdersEquity`	$54.10M	USD	Point-in-time
Balance	`StockholdersEquity`	$53.71M	USD	Point-in-time
Net income (loss)	`NetIncomeLoss`	$-390.75K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$59.52K	USD	1 Quarter
Balance	`StockholdersEquity`	$53.45M	USD	Point-in-time
Balance	`StockholdersEquity`	$53.39M	USD	Point-in-time
Balance	`StockholdersEquity`	$54.10M	USD	Point-in-time
Balance	`StockholdersEquity`	$53.71M	USD	Point-in-time

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