10-K Filing

MAYS J W INC CIK: 54187 FY 2023

Filing Information

Form Type	10-K
Accession Number	`0001206774-23-001194`
Period End Date	20230731
Filing Date	20231019
Fiscal Year	2023
Fiscal Period	FY
XBRL Instance	mays4229211-10k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 65 Income Statement 38 Cash Flow Statement 50 Stockholders Equity 8

Balance Sheet 65 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
Common stock held in treasury, at cost	`TreasuryStockCommonShares`	162,517.00	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
Construction in progress	`ConstructionInProgressGross`	$2.65M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$1.77M	USD	Point-in-time
Property, Plant and Equipment, Gross	`PropertyPlantAndEquipmentGross`	$79.47M	USD	Point-in-time
Property, Plant and Equipment, Gross	`PropertyPlantAndEquipmentGross`	$78.45M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$38.12M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$36.46M	USD	Point-in-time
Buildings net	`BuildingsNet`	$41.35M	USD	Point-in-time
Buildings net	`BuildingsNet`	$41.99M	USD	Point-in-time
Property and equipment-net	`PropertyPlantAndEquipmentNet`	$48.06M	USD	Point-in-time
Property and equipment-net	`PropertyPlantAndEquipmentNet`	$47.42M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.02M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.22M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$1.05M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$1.00M	USD	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$3.04M	USD	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$2.77M	USD	Point-in-time
Marketable securities	`MarketableSecurities`	$2.30M	USD	Point-in-time
Marketable securities	`MarketableSecurities`	$2.76M	USD	Point-in-time
Prepaids and other assets	`PrepaidExpenseCurrent`	$2.77M	USD	Point-in-time
Prepaids and other assets	`PrepaidExpenseCurrent`	$2.63M	USD	Point-in-time
Deferred charges, net	`DeferredCostsLeasingGross`	$3.61M	USD	Point-in-time
Deferred charges, net	`DeferredCostsLeasingGross`	$3.25M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$32.11M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$30.91M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$91.92M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$94.01M	USD	Point-in-time
Mortgages payable	`LoansPayableToBank`	$5.14M	USD	Point-in-time
Mortgages payable	`LoansPayableToBank`	$6.36M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesNoncurrent`	$2.32M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesNoncurrent`	$1.72M	USD	Point-in-time
Security deposits payable	`SecurityDepositsPayableNonCurrent`	$1.01M	USD	Point-in-time
Security deposits payable	`SecurityDepositsPayableNonCurrent`	$1.05M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiability`	$26.51M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiability`	$26.60M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$4.23M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$4.29M	USD	Point-in-time
Total liabilities	`Liabilities`	$38.61M	USD	Point-in-time
Total liabilities	`Liabilities`	$40.62M	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`	$49.07M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$49.15M	USD	Point-in-time
Stockholders' Equity before Treasury Stock	`StockholdersEquityBeforeTreasuryStock`	$54.68M	USD	Point-in-time
Stockholders' Equity before Treasury Stock	`StockholdersEquityBeforeTreasuryStock`	$54.59M	USD	Point-in-time
Common stock held in treasury, at cost - 162,517 shares at July 31, 2023 and July 31, 2022	`TreasuryStockCommonValue`	$1.29M	USD	Point-in-time
Common stock held in treasury, at cost - 162,517 shares at July 31, 2023 and July 31, 2022	`TreasuryStockCommonValue`	$1.29M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$53.39M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$53.30M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$54.10M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$94.01M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$91.92M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Loss per common share, diluted	`EarningsPerShareDiluted`	$-0.35	USD	Annual
Loss per common share, diluted	`EarningsPerShareDiluted`	$-0.04	USD	Annual
Average common shares outstanding, diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.02M	shares	Annual
Average common shares outstanding, diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.02M	shares	Annual
Rental income	`OperatingLeasesIncomeStatementLeaseRevenues`	$22.58M	USD	Annual
Rental income	`OperatingLeasesIncomeStatementLeaseRevenues`	$21.40M	USD	Annual
Total revenues	`Revenues`	$22.58M	USD	Annual
Total revenues	`Revenues`	$21.40M	USD	Annual
Real estate operating expenses	`OperatingCostsAndExpenses`	$14.66M	USD	Annual
Real estate operating expenses	`OperatingCostsAndExpenses`	$15.38M	USD	Annual
Administrative and general expenses	`GeneralAndAdministrativeExpense`	$5.28M	USD	Annual
Administrative and general expenses	`GeneralAndAdministrativeExpense`	$5.65M	USD	Annual
Depreciation	`DepreciationAndAmortization`	$1.69M	USD	Annual
Depreciation	`DepreciationAndAmortization`	$1.74M	USD	Annual
Total expenses	`OperatingExpenses`	$22.35M	USD	Annual
Total expenses	`OperatingExpenses`	$22.05M	USD	Annual
Income (loss) from operations	`OperatingIncomeLoss`	$-657.01K	USD	Annual
Income (loss) from operations	`OperatingIncomeLoss`	$223.67K	USD	Annual
Investment income	`InvestmentIncomeNet`	$228.34K	USD	Annual
Investment income	`InvestmentIncomeNet`	$300.38K	USD	Annual
Change in fair value of marketable securities	`ChangeInFairValueOfMarketableSecurities`	$-393.76K	USD	Annual
Change in fair value of marketable securities	`ChangeInFairValueOfMarketableSecurities`	$-366.21K	USD	Annual
Interest expense	`InterestExpense`	$230.77K	USD	Annual
Interest expense	`InterestExpense`	$251.98K	USD	Annual
Total investment income and interest expense	`NonoperatingIncomeExpense`	$-345.36K	USD	Annual
Total investment income and interest expense	`NonoperatingIncomeExpense`	$-368.63K	USD	Annual
Loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.00M	USD	Annual
Loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-144.96K	USD	Annual
Income tax provision (benefit)	`IncomeTaxExpenseBenefit`	$-290.00K	USD	Annual
Income tax provision (benefit)	`IncomeTaxExpenseBenefit`	$-62.00K	USD	Annual
Net loss	`NetIncomeLoss`	$-712.37K	USD	Annual
Net loss	`NetIncomeLoss`	$-82.96K	USD	Annual
Loss per common share, basic	`EarningsPerShareBasic`	$-0.35	USD	Annual
Loss per common share, basic	`EarningsPerShareBasic`	$-0.04	USD	Annual
Dividends per share	`CommonStockDividendsPerShareCashPaid`	-	USD	Annual
Dividends per share	`CommonStockDividendsPerShareCashPaid`	-	USD	Annual
Weighted Average Number of Shares Outstanding, Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	2.02M	shares	Annual
Weighted Average Number of Shares Outstanding, Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	2.02M	shares	Annual

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-712.37K	USD	Annual
Net loss	`NetIncomeLoss`	$-82.96K	USD	Annual
Bad debt expense (recovery)	`IncreaseDecreaseBadDebtExpense`	$352.92K	USD	Annual
Bad debt expense (recovery)	`IncreaseDecreaseBadDebtExpense`	$-85.41K	USD	Annual
Provision (benefit) for deferred income tax	`IncreaseDecreaseInDeferredIncomeTaxes`	$62.00K	USD	Annual
Provision (benefit) for deferred income tax	`IncreaseDecreaseInDeferredIncomeTaxes`	$290.00K	USD	Annual
Net realized (gain) on sale of marketable securities	`GainLossOnInvestments`	$130.01K	USD	Annual
Net realized (gain) on sale of marketable securities	`GainLossOnInvestments`	$131.79K	USD	Annual
Net unrealized loss on marketable securities	`MarketableSecuritiesUnrealizedGainLoss`	$-393.76K	USD	Annual
Net unrealized loss on marketable securities	`MarketableSecuritiesUnrealizedGainLoss`	$-366.21K	USD	Annual
Depreciation	`OtherDepreciationAndAmortization`	$1.74M	USD	Annual
Depreciation	`OtherDepreciationAndAmortization`	$1.69M	USD	Annual
Amortization of deferred charges	`AmortizationOfDeferredCharges`	$507.56K	USD	Annual
Amortization of deferred charges	`AmortizationOfDeferredCharges`	$452.78K	USD	Annual
Operating lease expense in excess of cash payments	`OperatingLeaseExpenseInExcessOfCashPayments`	$1.22M	USD	Annual
Operating lease expense in excess of cash payments	`OperatingLeaseExpenseInExcessOfCashPayments`	$1.11M	USD	Annual
Deferred finance costs included in interest expense	`AmortizationOfFinancingCosts`	$38.11K	USD	Annual
Deferred finance costs included in interest expense	`AmortizationOfFinancingCosts`	$38.11K	USD	Annual
Deferred charges	`IncreaseDecreaseInDeferredCharges`	$382.96K	USD	Annual
Deferred charges	`IncreaseDecreaseInDeferredCharges`	$88.84K	USD	Annual
Receivables	`IncreaseDecreaseInAccountsReceivable`	$187.66K	USD	Annual
Receivables	`IncreaseDecreaseInAccountsReceivable`	$707.27K	USD	Annual
Prepaids and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$144.43K	USD	Annual
Prepaids and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$243.84K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-603.33K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-311.14K	USD	Annual
Security deposits payable	`IncreaseDecreaseInSecurityDeposits`	$-45.50K	USD	Annual
Security deposits payable	`IncreaseDecreaseInSecurityDeposits`	$216.96K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.22M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.69M	USD	Annual
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.05M	USD	Annual
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.73M	USD	Annual
Receipts from sales	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$1.00M	USD	Annual
Receipts from sales	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$287.29K	USD	Annual
Payments for purchases	`PaymentsToAcquireMarketableSecurities`	$123.81K	USD	Annual
Payments for purchases	`PaymentsToAcquireMarketableSecurities`	$62.86K	USD	Annual
Net cash (used) in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-821.88K	USD	Annual
Net cash (used) in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-855.67K	USD	Annual
Payments mortgages	`RepaymentsOfLongTermDebt`	$1.20M	USD	Annual
Payments mortgages	`RepaymentsOfLongTermDebt`	$1.25M	USD	Annual
Net cash (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.25M	USD	Annual
Net cash (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.20M	USD	Annual
Net increase (decrease) in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$147.84K	USD	Annual
Net increase (decrease) in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-364.82K	USD	Annual
Cash, cash equivalents and restricted cash at beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.22M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.43M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.07M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.22M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.43M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.07M	USD	Point-in-time

Stockholders Equity 8 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$53.39M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$53.30M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$54.10M	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-712.37K	USD	Annual
Net loss	`NetIncomeLoss`	$-82.96K	USD	Annual
Ending balance, value	`StockholdersEquity`	$53.39M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$53.30M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$54.10M	USD	Point-in-time

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