10-Q Filing

MAYS J W INC CIK: 54187 Q3 2023

Filing Information

Form Type	10-Q
Accession Number	`0001206774-23-000748`
Period End Date	20230430
Filing Date	20230608
Fiscal Year	2023
Fiscal Period	Q3
XBRL Instance	mays4160726-10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 76 Cash Flow Statement 52 Stockholders Equity 16

Balance Sheet 68 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
Land	`Land`	$6.07M	USD	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
Common stock, shares issued	`CommonStockSharesIssued`	2.18M	shares	Point-in-time
Common stock held in treasury, at cost	`TreasuryStockCommonShares`	162,517.00	shares	Point-in-time
Buildings, improvements and fixtures	`BuildingsAndImprovementsGross`	$77.70M	USD	Point-in-time
Buildings, improvements and fixtures	`BuildingsAndImprovementsGross`	$75.79M	USD	Point-in-time
Common stock held in treasury, at cost	`TreasuryStockCommonShares`	162,517.00	shares	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$2.65M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$1.74M	USD	Point-in-time
Property, Plant and Equipment, Gross	`PropertyPlantAndEquipmentGross`	$79.43M	USD	Point-in-time
Property, Plant and Equipment, Gross	`PropertyPlantAndEquipmentGross`	$78.45M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$37.72M	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`	$41.71M	USD	Point-in-time
Property and equipment-net	`PropertyPlantAndEquipmentNet`	$47.78M	USD	Point-in-time
Property and equipment-net	`PropertyPlantAndEquipmentNet`	$48.06M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.36M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.02M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$989.69K	USD	Point-in-time
Restricted cash	`RestrictedCash`	$1.05M	USD	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$2.61M	USD	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$2.77M	USD	Point-in-time
Marketable securities	`MarketableSecurities`	$2.65M	USD	Point-in-time
Marketable securities	`MarketableSecurities`	$2.76M	USD	Point-in-time
Prepaids and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.63M	USD	Point-in-time
Prepaids and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.28M	USD	Point-in-time
Deferred charges, net	`DeferredCostsLeasingGross`	$3.61M	USD	Point-in-time
Deferred charges, net	`DeferredCostsLeasingGross`	$3.37M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$32.11M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$31.42M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$92.46M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$94.01M	USD	Point-in-time
Mortgages payable	`LoansPayableToBank`	$5.45M	USD	Point-in-time
Mortgages payable	`LoansPayableToBank`	$6.36M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$2.32M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$1.45M	USD	Point-in-time
Security deposits payable	`SecurityDepositsPayableNonCurrent`	$993.83K	USD	Point-in-time
Security deposits payable	`SecurityDepositsPayableNonCurrent`	$1.05M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiability`	$26.60M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiability`	$26.80M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$4.29M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$4.30M	USD	Point-in-time
Total Liabilities	`Liabilities`	$40.62M	USD	Point-in-time
Total Liabilities	`Liabilities`	$39.00M	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`	$49.15M	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`	$54.68M	USD	Point-in-time
Common stock held in treasury, at cost - 162,517 shares at April 30, 2023 and July 31, 2022	`TreasuryStockValue`	$1.29M	USD	Point-in-time
Common stock held in treasury, at cost - 162,517 shares at April 30, 2023 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`	$53.51M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$53.46M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$53.49M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$54.10M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$53.39M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$94.01M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$92.46M	USD	Point-in-time

Income Statement 76 line items

Line Item	Tag	Value	Unit	Period
Income (loss) per common share, diluted	`EarningsPerShareDiluted`	$-0.32	USD	3 Qtrs
Income (loss) per common share, diluted	`EarningsPerShareDiluted`	$0.03	USD	3 Qtrs
Income (loss) per common share, diluted	`EarningsPerShareDiluted`	$-0.02	USD	1 Quarter
Income (loss) per common share, diluted	`EarningsPerShareDiluted`	$-0.03	USD	1 Quarter
Average common shares outstanding, diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.02M	shares	1 Quarter
Rental income	`OperatingLeasesIncomeStatementLeaseRevenues`	$17.17M	USD	3 Qtrs
Average common shares outstanding, diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.02M	shares	1 Quarter
Rental income	`OperatingLeasesIncomeStatementLeaseRevenues`	$5.56M	USD	1 Quarter
Average common shares outstanding, diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.02M	shares	3 Qtrs
Rental income	`OperatingLeasesIncomeStatementLeaseRevenues`	$15.89M	USD	3 Qtrs
Rental income	`OperatingLeasesIncomeStatementLeaseRevenues`	$5.48M	USD	1 Quarter
Average common shares outstanding, diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.02M	shares	3 Qtrs
Total revenues	`Revenues`	$5.56M	USD	1 Quarter
Total revenues	`Revenues`	$15.89M	USD	3 Qtrs
Total revenues	`Revenues`	$5.48M	USD	1 Quarter
Total revenues	`Revenues`	$17.17M	USD	3 Qtrs
Real estate operating expenses	`OperatingCostsAndExpenses`	$11.06M	USD	3 Qtrs
Real estate operating expenses	`OperatingCostsAndExpenses`	$3.85M	USD	1 Quarter
Real estate operating expenses	`OperatingCostsAndExpenses`	$11.60M	USD	3 Qtrs
Real estate operating expenses	`OperatingCostsAndExpenses`	$3.76M	USD	1 Quarter
Administrative and general expenses	`GeneralAndAdministrativeExpense`	$4.10M	USD	3 Qtrs
Administrative and general expenses	`GeneralAndAdministrativeExpense`	$1.28M	USD	1 Quarter
Administrative and general expenses	`GeneralAndAdministrativeExpense`	$1.31M	USD	1 Quarter
Administrative and general expenses	`GeneralAndAdministrativeExpense`	$3.97M	USD	3 Qtrs
Depreciation	`DepreciationAndAmortization`	$421.86K	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$422.21K	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$1.33M	USD	3 Qtrs
Depreciation	`DepreciationAndAmortization`	$1.26M	USD	3 Qtrs
Total expenses	`OperatingExpenses`	$16.83M	USD	3 Qtrs
Total expenses	`OperatingExpenses`	$5.59M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$16.49M	USD	3 Qtrs
Total expenses	`OperatingExpenses`	$5.47M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$17.27K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-24.04K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$341.55K	USD	3 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$-600.23K	USD	3 Qtrs
Investment income	`InvestmentIncomeNet`	$89.65K	USD	3 Qtrs
Investment income	`InvestmentIncomeNet`	$5.85K	USD	1 Quarter
Investment income	`InvestmentIncomeNet`	$208.77K	USD	3 Qtrs
Investment income	`InvestmentIncomeNet`	$3.47K	USD	1 Quarter
Change in fair value of marketable securities	`ChangeInFairValueOfMarketableSecurities`	$-61.16K	USD	1 Quarter
Change in fair value of marketable securities	`ChangeInFairValueOfMarketableSecurities`	$4.77K	USD	1 Quarter
Change in fair value of marketable securities	`ChangeInFairValueOfMarketableSecurities`	$-176.67K	USD	3 Qtrs
Change in fair value of marketable securities	`ChangeInFairValueOfMarketableSecurities`	$-297.90K	USD	3 Qtrs
Interest expense	`InterestExpense`	$44.73K	USD	1 Quarter
Interest expense	`InterestExpense`	$33.62K	USD	1 Quarter
Interest expense	`InterestExpense`	$192.26K	USD	3 Qtrs
Interest expense	`InterestExpense`	$178.44K	USD	3 Qtrs
Total investment income and interest expense	`NonoperatingIncomeExpense`	$-265.45K	USD	3 Qtrs
Total investment income and interest expense	`NonoperatingIncomeExpense`	$-34.12K	USD	1 Quarter
Total investment income and interest expense	`NonoperatingIncomeExpense`	$-91.31K	USD	1 Quarter
Total investment income and interest expense	`NonoperatingIncomeExpense`	$-281.39K	USD	3 Qtrs
Income (loss) from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-881.62K	USD	3 Qtrs
Income (loss) from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-74.04K	USD	1 Quarter
Income (loss) from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-58.16K	USD	1 Quarter
Income (loss) from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$76.09K	USD	3 Qtrs
Income taxes provided (benefit)	`IncomeTaxExpenseBenefit`	$-19.00K	USD	1 Quarter
Income taxes provided (benefit)	`IncomeTaxExpenseBenefit`	$-238.00K	USD	3 Qtrs
Income taxes provided (benefit)	`IncomeTaxExpenseBenefit`	$-17.00K	USD	1 Quarter
Income taxes provided (benefit)	`IncomeTaxExpenseBenefit`	$11.00K	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$-643.62K	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$-57.04K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$65.09K	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$-39.16K	USD	1 Quarter
Income (loss) per common share, basic	`EarningsPerShareBasic`	$-0.02	USD	1 Quarter
Income (loss) per common share, basic	`EarningsPerShareBasic`	$-0.32	USD	3 Qtrs
Income (loss) per common share, basic	`EarningsPerShareBasic`	$0.03	USD	3 Qtrs
Income (loss) per common share, basic	`EarningsPerShareBasic`	$-0.03	USD	1 Quarter
Dividends per share	`CommonStockDividendsPerShareCashPaid`	-	USD	1 Quarter
Dividends per share	`CommonStockDividendsPerShareCashPaid`	-	USD	3 Qtrs
Dividends per share	`CommonStockDividendsPerShareCashPaid`	-	USD	3 Qtrs
Dividends per share	`CommonStockDividendsPerShareCashPaid`	-	USD	1 Quarter
Average common shares outstanding, basic	`WeightedAverageNumberOfSharesOutstandingBasic`	2.02M	shares	3 Qtrs
Average common shares outstanding, basic	`WeightedAverageNumberOfSharesOutstandingBasic`	2.02M	shares	1 Quarter
Average common shares outstanding, basic	`WeightedAverageNumberOfSharesOutstandingBasic`	2.02M	shares	3 Qtrs
Average common shares outstanding, basic	`WeightedAverageNumberOfSharesOutstandingBasic`	2.02M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`ProfitLoss`	$65.09K	USD	3 Qtrs
Net income (loss)	`ProfitLoss`	$-643.62K	USD	3 Qtrs
Bad debt expense (recoveries)	`IncreaseDecreaseBadDebtExpense`	$214.35K	USD	3 Qtrs
Bad debt expense (recoveries)	`IncreaseDecreaseBadDebtExpense`	$-65.41K	USD	3 Qtrs
Provision (Benefit) for deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-11.00K	USD	3 Qtrs
Provision (Benefit) for deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$238.00K	USD	3 Qtrs
Depreciation	`OtherDepreciationAndAmortization`	$1.26M	USD	3 Qtrs
Depreciation	`OtherDepreciationAndAmortization`	$1.33M	USD	3 Qtrs
Amortization of deferred charges	`OtherAmortizationOfDeferredCharges`	$394.51K	USD	3 Qtrs
Amortization of deferred charges	`OtherAmortizationOfDeferredCharges`	$336.00K	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`	$893.20K	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`	-	USD	3 Qtrs
Net unrealized loss on marketable securities	`MarketableSecuritiesUnrealizedGainLoss`	$-176.67K	USD	3 Qtrs
Net unrealized loss on marketable securities	`MarketableSecuritiesUnrealizedGainLoss`	$-297.90K	USD	3 Qtrs
Deferred charges	`IncreaseDecreaseInDeferredCharges`	-	USD	3 Qtrs
Deferred charges	`IncreaseDecreaseInDeferredCharges`	$88.84K	USD	3 Qtrs
Receivables	`IncreaseDecreaseInAccountsReceivable`	$241.02K	USD	3 Qtrs
Receivables	`IncreaseDecreaseInAccountsReceivable`	$-223.53K	USD	3 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.35M	USD	3 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.17M	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-870.18K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-757.00K	USD	3 Qtrs
Security deposits payable	`IncreaseDecreaseInSecurityDeposits`	$-57.60K	USD	3 Qtrs
Security deposits payable	`IncreaseDecreaseInSecurityDeposits`	$150.79K	USD	3 Qtrs
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.56M	USD	3 Qtrs
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.26M	USD	3 Qtrs
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$987.10K	USD	3 Qtrs
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.40M	USD	3 Qtrs
Receipts from sales	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	-	USD	3 Qtrs
Receipts from sales	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$400.25K	USD	3 Qtrs
Payments for purchases	`PaymentsToAcquireMarketableSecurities`	$62.86K	USD	3 Qtrs
Payments for purchases	`PaymentsToAcquireMarketableSecurities`	$123.80K	USD	3 Qtrs
Cash (used) in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.13M	USD	3 Qtrs
Cash (used) in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.05M	USD	3 Qtrs
Payments - mortgages	`RepaymentsOfLongTermDebt`	$933.91K	USD	3 Qtrs
Payments - mortgages	`RepaymentsOfLongTermDebt`	$893.90K	USD	3 Qtrs
Net cash (used) in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-933.91K	USD	3 Qtrs
Net cash (used) in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-893.90K	USD	3 Qtrs
Increase in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$1.28M	USD	3 Qtrs
Increase in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$542.13K	USD	3 Qtrs
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.35M	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`	$2.98M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.07M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.35M	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`	$2.07M	USD	Point-in-time

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$53.45M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$53.51M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$53.46M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$53.49M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$54.10M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$53.39M	USD	Point-in-time
Net income (loss)	`NetIncomeLoss`	$-643.62K	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$-57.04K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$65.09K	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$-39.16K	USD	1 Quarter
Ending balance, value	`StockholdersEquity`	$53.45M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$53.51M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$53.46M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$53.49M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$54.10M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$53.39M	USD	Point-in-time

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