10-Q Filing

MAYS J W INC CIK: 54187 Q1 2024

Filing Information

Form Type	10-Q
Accession Number	`0001206774-23-001308`
Period End Date	20231031
Filing Date	20231207
Fiscal Year	2024
Fiscal Period	Q1
XBRL Instance	mays4262931-10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 38 Cash Flow Statement 46 Stockholders Equity 10

Balance Sheet 66 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
Common stock, shares issued	`CommonStockSharesIssued`	2.18M	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 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`	$77.85M	USD	Point-in-time
Buildings, improvements, and fixtures	`BuildingsAndImprovementsGross`	$77.70M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$1.94M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$1.77M	USD	Point-in-time
Property, Plant and Equipment, Gross	`PropertyPlantAndEquipmentGross`	$79.78M	USD	Point-in-time
Property, Plant and Equipment, Gross	`PropertyPlantAndEquipmentGross`	$79.47M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$38.12M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$38.55M	USD	Point-in-time
Buildings - net	`BuildingNet`	$41.23M	USD	Point-in-time
Buildings - net	`BuildingNet`	$41.35M	USD	Point-in-time
Property and equipment-net	`PropertyPlantAndEquipmentNet`	$47.30M	USD	Point-in-time
Property and equipment-net	`PropertyPlantAndEquipmentNet`	$47.42M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.34M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.22M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$1.00M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$1.00M	USD	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$3.00M	USD	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$3.04M	USD	Point-in-time
Marketable securities	`MarketableSecurities`	$2.30M	USD	Point-in-time
Marketable securities	`MarketableSecurities`	$2.14M	USD	Point-in-time
Prepaids and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.51M	USD	Point-in-time
Prepaids and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.77M	USD	Point-in-time
Deferred charges, net	`DeferredCostsLeasingGross`	$3.25M	USD	Point-in-time
Deferred charges, net	`DeferredCostsLeasingGross`	$3.28M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$30.91M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$30.41M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$91.92M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$90.98M	USD	Point-in-time
Mortgages payable, net	`LoansPayableToBank`	$4.83M	USD	Point-in-time
Mortgages payable, net	`LoansPayableToBank`	$5.14M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$1.64M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$1.72M	USD	Point-in-time
Security deposits payable	`SecurityDepositsPayableNonCurrent`	$1.01M	USD	Point-in-time
Security deposits payable	`SecurityDepositsPayableNonCurrent`	$1.01M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiability`	$26.51M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiability`	$26.22M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$4.17M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$4.23M	USD	Point-in-time
Total Liabilities	`Liabilities`	$37.87M	USD	Point-in-time
Total Liabilities	`Liabilities`	$38.61M	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`	$48.88M	USD	Point-in-time
Stockholders' Equity before Treasury Stock	`StockholdersEquityBeforeTreasuryStock`	$54.40M	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 October 31, 2023 and July 31, 2023	`TreasuryStockCommonValue`	$1.29M	USD	Point-in-time
Common stock held in treasury, at cost - 162,517 shares at October 31, 2023 and July 31, 2023	`TreasuryStockCommonValue`	$1.29M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$53.11M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$53.45M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$53.30M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$53.39M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$90.98M	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
Income (loss) per common share, diluted	`EarningsPerShareDiluted`	$-0.10	USD	1 Quarter
Income (loss) per common share, diluted	`EarningsPerShareDiluted`	$0.03	USD	1 Quarter
Rental income	`OperatingLeasesIncomeStatementLeaseRevenues`	$5.32M	USD	1 Quarter
Average common shares outstanding, diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.02M	shares	1 Quarter
Average common shares outstanding, diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.02M	shares	1 Quarter
Rental income	`OperatingLeasesIncomeStatementLeaseRevenues`	$5.77M	USD	1 Quarter
Total revenues	`Revenues`	$5.77M	USD	1 Quarter
Total revenues	`Revenues`	$5.32M	USD	1 Quarter
Real estate operating expenses	`OperatingCostsAndExpenses`	$3.69M	USD	1 Quarter
Real estate operating expenses	`OperatingCostsAndExpenses`	$3.79M	USD	1 Quarter
Administrative and general expenses	`GeneralAndAdministrativeExpense`	$1.25M	USD	1 Quarter
Administrative and general expenses	`GeneralAndAdministrativeExpense`	$1.25M	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$418.50K	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$428.26K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$5.38M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$5.45M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-51.65K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$315.59K	USD	1 Quarter
Investment income	`InvestmentIncomeNet`	$8.80K	USD	1 Quarter
Investment income	`InvestmentIncomeNet`	$9.24K	USD	1 Quarter
Change in fair value of marketable securities	`ChangeInFairValueOfMarketableSecurities`	$-187.20K	USD	1 Quarter
Change in fair value of marketable securities	`ChangeInFairValueOfMarketableSecurities`	$-163.57K	USD	1 Quarter
Interest expense	`InterestExpense`	$41.57K	USD	1 Quarter
Interest expense	`InterestExpense`	$62.66K	USD	1 Quarter
Total investment income and interest expense	`NonoperatingIncomeExpense`	$-195.89K	USD	1 Quarter
Total investment income and interest expense	`NonoperatingIncomeExpense`	$-241.07K	USD	1 Quarter
Income (loss) from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-247.54K	USD	1 Quarter
Income (loss) from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$74.52K	USD	1 Quarter
Income taxes provided (benefit)	`IncomeTaxExpenseBenefit`	$-55.00K	USD	1 Quarter
Income taxes provided (benefit)	`IncomeTaxExpenseBenefit`	$15.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-192.54K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$59.52K	USD	1 Quarter
Income (loss) per common share, basic	`EarningsPerShareBasic`	$-0.10	USD	1 Quarter
Income (loss) per common share, basic	`EarningsPerShareBasic`	$0.03	USD	1 Quarter
Dividends per share	`CommonStockDividendsPerShareCashPaid`	-	USD	1 Quarter
Dividends per share	`CommonStockDividendsPerShareCashPaid`	-	USD	1 Quarter
Average common shares outstanding, basic	`WeightedAverageNumberOfSharesOutstandingBasic`	2.02M	shares	1 Quarter
Average common shares outstanding, basic	`WeightedAverageNumberOfSharesOutstandingBasic`	2.02M	shares	1 Quarter

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`ProfitLoss`	$59.52K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$-192.54K	USD	1 Quarter
Bad debt expense (recoveries)	`IncreaseDecreaseBadDebtExpense`	$-33.00K	USD	1 Quarter
Bad debt expense (recoveries)	`IncreaseDecreaseBadDebtExpense`	$-60.00K	USD	1 Quarter
Provision (benefit) for deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$55.00K	USD	1 Quarter
Provision (benefit) for deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-15.00K	USD	1 Quarter
Depreciation	`OtherDepreciationAndAmortization`	$418.50K	USD	1 Quarter
Depreciation	`OtherDepreciationAndAmortization`	$428.26K	USD	1 Quarter
Amortization of deferred charges	`OtherAmortizationOfDeferredCharges`	$112.00K	USD	1 Quarter
Amortization of deferred charges	`OtherAmortizationOfDeferredCharges`	$119.04K	USD	1 Quarter
Operating lease expense in excess of cash payments	`OperatingLeaseExpenseInExcessOfCashPayments`	$213.20K	USD	1 Quarter
Operating lease expense in excess of cash payments	`OperatingLeaseExpenseInExcessOfCashPayments`	$309.11K	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
Deferred costs	`GainLossOnInvestments`	$152.09K	USD	1 Quarter
Deferred costs	`GainLossOnInvestments`	-	USD	1 Quarter
Net unrealized loss on marketable securities	`MarketableSecuritiesUnrealizedGainLoss`	$-187.20K	USD	1 Quarter
Net unrealized loss on marketable securities	`MarketableSecuritiesUnrealizedGainLoss`	$-163.57K	USD	1 Quarter
Receivables	`IncreaseDecreaseInAccountsReceivable`	$-74.38K	USD	1 Quarter
Receivables	`IncreaseDecreaseInAccountsReceivable`	$-365.85K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.20M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.26M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-65.57K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-81.91K	USD	1 Quarter
Security deposits payable	`IncreaseDecreaseInSecurityDeposits`	-	USD	1 Quarter
Security deposits payable	`IncreaseDecreaseInSecurityDeposits`	$-9.26K	USD	1 Quarter
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.76M	USD	1 Quarter
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.54M	USD	1 Quarter
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$312.73K	USD	1 Quarter
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$648.12K	USD	1 Quarter
Cash (used) in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-312.73K	USD	1 Quarter
Cash (used) in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-648.12K	USD	1 Quarter
Payments - mortgage and other debt payments	`RepaymentsOfLongTermDebt`	$307.70K	USD	1 Quarter
Payments - mortgage and other debt payments	`RepaymentsOfLongTermDebt`	$321.57K	USD	1 Quarter
Cash (used) in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-321.57K	USD	1 Quarter
Cash (used) in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-307.70K	USD	1 Quarter
Increase in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$1.12M	USD	1 Quarter
Increase in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$1.59M	USD	1 Quarter
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.34M	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`	$2.07M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.22M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.34M	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`	$2.07M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.22M	USD	Point-in-time

Stockholders Equity 10 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$53.11M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$53.45M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$53.30M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$53.39M	USD	Point-in-time
Net income (loss)	`NetIncomeLoss`	$-192.54K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$59.52K	USD	1 Quarter
Ending balance, value	`StockholdersEquity`	$53.11M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$53.45M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$53.30M	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.