10-Q Filing

MAYS J W INC CIK: 54187 Q3 2021

Filing Information

Form Type	10-Q
Accession Number	`0001359948-21-000117`
Period End Date	20210430
Filing Date	20210610
Fiscal Year	2021
Fiscal Period	Q3
XBRL Instance	mays-20210430.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 71 Income Statement 64 Cash Flow Statement 58 Stockholders Equity 16

Balance Sheet 71 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
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
Land	`Land`	$6.07M	USD	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`	$73.27M	USD	Point-in-time
Buildings, improvements, and fixtures	`BuildingsAndImprovementsGross`	$74.50M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$1.82M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$1.27M	USD	Point-in-time
Property, Plant and Equipment, Gross	`PropertyPlantAndEquipmentGross`	$76.32M	USD	Point-in-time
Property, Plant and Equipment, Gross	`PropertyPlantAndEquipmentGross`	$74.54M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$34.34M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$33.01M	USD	Point-in-time
Buildings - net	`BuildingsNet`	$41.53M	USD	Point-in-time
Buildings - net	`BuildingsNet`	$41.98M	USD	Point-in-time
Property and equipment-net	`PropertyPlantAndEquipmentNet`	$48.04M	USD	Point-in-time
Property and equipment-net	`PropertyPlantAndEquipmentNet`	$47.60M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.13M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.32M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.26M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$861.91K	USD	Point-in-time
Restricted cash	`RestrictedCash`	$1.14M	USD	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$2.38M	USD	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$2.22M	USD	Point-in-time
Marketable securities	`MarketableSecurities`	$3.74M	USD	Point-in-time
Marketable securities	`MarketableSecurities`	$4.19M	USD	Point-in-time
Prepaids and other assets	`PrepaidExpenseCurrent`	$2.39M	USD	Point-in-time
Prepaids and other assets	`PrepaidExpenseCurrent`	$1.25M	USD	Point-in-time
Deferred charges, net	`DeferredCostsLeasingGross`	$3.83M	USD	Point-in-time
Deferred charges, net	`DeferredCostsLeasingGross`	$2.99M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$37.08M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$35.20M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$98.07M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$100.42M	USD	Point-in-time
Mortgages payable, net	`LoansPayableToBank`	$7.80M	USD	Point-in-time
Mortgages payable, net	`LoansPayableToBank`	$8.63M	USD	Point-in-time
Note payable	`NotesPayableToBank`	$722.73K	USD	Point-in-time
Note payable	`NotesPayableToBank`	$722.73K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesNoncurrent`	$2.86M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesNoncurrent`	$2.77M	USD	Point-in-time
Security deposits payable	`SecurityDepositsPayableNonCurrent`	$809.65K	USD	Point-in-time
Security deposits payable	`SecurityDepositsPayableNonCurrent`	$814.09K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiability`	$28.17M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiability`	$29.04M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$4.74M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$4.52M	USD	Point-in-time
Total liabilities	`Liabilities`	$46.72M	USD	Point-in-time
Total liabilities	`Liabilities`	$44.88M	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`	$49.47M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$48.95M	USD	Point-in-time
Stockholders' Equity before Treasury Stock	`StockholdersEquityBeforeTreasuryStock`	$54.48M	USD	Point-in-time
Stockholders' Equity before Treasury Stock	`StockholdersEquityBeforeTreasuryStock`	$54.99M	USD	Point-in-time
Common stock held in treasury, at cost - 162,517 shares at April 30, 2021 and July 31, 2020	`TreasuryStockValue`	$1.29M	USD	Point-in-time
Common stock held in treasury, at cost - 162,517 shares at April 30, 2021 and July 31, 2020	`TreasuryStockValue`	$1.29M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$54.09M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$53.70M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$53.23M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$54.68M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$54.61M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$53.19M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$100.42M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$98.07M	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Rental income	`OperatingLeasesIncomeStatementLeaseRevenues`	$5.16M	USD	1 Quarter
Rental income	`OperatingLeasesIncomeStatementLeaseRevenues`	$15.04M	USD	3 Qtrs
Rental income	`OperatingLeasesIncomeStatementLeaseRevenues`	$5.13M	USD	1 Quarter
Rental income	`OperatingLeasesIncomeStatementLeaseRevenues`	$15.20M	USD	3 Qtrs
Total revenues	`Revenues`	$5.16M	USD	1 Quarter
Total revenues	`Revenues`	$15.04M	USD	3 Qtrs
Total revenues	`Revenues`	$15.20M	USD	3 Qtrs
Total revenues	`Revenues`	$5.13M	USD	1 Quarter
Real estate operating expenses	`OperatingCostsAndExpenses`	$10.25M	USD	3 Qtrs
Real estate operating expenses	`OperatingCostsAndExpenses`	$3.71M	USD	1 Quarter
Real estate operating expenses	`OperatingCostsAndExpenses`	$3.43M	USD	1 Quarter
Real estate operating expenses	`OperatingCostsAndExpenses`	$10.88M	USD	3 Qtrs
Administrative and general expenses	`GeneralAndAdministrativeExpense`	$3.76M	USD	3 Qtrs
Administrative and general expenses	`GeneralAndAdministrativeExpense`	$4.30M	USD	3 Qtrs
Administrative and general expenses	`GeneralAndAdministrativeExpense`	$1.77M	USD	1 Quarter
Administrative and general expenses	`GeneralAndAdministrativeExpense`	$1.24M	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$410.61K	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$445.82K	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$1.19M	USD	3 Qtrs
Depreciation	`DepreciationAndAmortization`	$1.34M	USD	3 Qtrs
Total expenses	`OperatingExpenses`	$5.40M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$5.61M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$15.74M	USD	3 Qtrs
Total expenses	`OperatingExpenses`	$15.97M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-931.17K	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-242.24K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-534.67K	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-483.27K	USD	1 Quarter
Investment income (loss)	`InvestmentIncomeNet`	$174.12K	USD	3 Qtrs
Investment income (loss)	`InvestmentIncomeNet`	$-5.33K	USD	1 Quarter
Investment income (loss)	`InvestmentIncomeNet`	$135.59K	USD	3 Qtrs
Investment income (loss)	`InvestmentIncomeNet`	$7.96K	USD	1 Quarter
Change in fair value of marketable securities	`MarketableSecuritiesUnrealizedGainLoss`	$-268.65K	USD	1 Quarter
Change in fair value of marketable securities	`MarketableSecuritiesUnrealizedGainLoss`	$252.74K	USD	1 Quarter
Change in fair value of marketable securities	`MarketableSecuritiesUnrealizedGainLoss`	$-205.40K	USD	3 Qtrs
Change in fair value of marketable securities	`MarketableSecuritiesUnrealizedGainLoss`	$276.75K	USD	3 Qtrs
Interest expense	`InterestExpense`	$52.78K	USD	1 Quarter
Interest expense	`InterestExpense`	$107.28K	USD	3 Qtrs
Interest expense	`InterestExpense`	$254.15K	USD	3 Qtrs
Interest expense	`InterestExpense`	$86.38K	USD	1 Quarter
Total investment income and interest expense	`NonoperatingIncomeExpense`	$174.31K	USD	1 Quarter
Total investment income and interest expense	`NonoperatingIncomeExpense`	$196.72K	USD	3 Qtrs
Total investment income and interest expense	`NonoperatingIncomeExpense`	$-177.09K	USD	3 Qtrs
Total investment income and interest expense	`NonoperatingIncomeExpense`	$-326.75K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-67.92K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-810.02K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-711.76K	USD	3 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-734.45K	USD	3 Qtrs
Income taxes (benefit)	`IncomeTaxExpenseBenefit`	$-26.00K	USD	1 Quarter
Income taxes (benefit)	`IncomeTaxExpenseBenefit`	$-225.00K	USD	1 Quarter
Income taxes (benefit)	`IncomeTaxExpenseBenefit`	$-198.00K	USD	3 Qtrs
Income taxes (benefit)	`IncomeTaxExpenseBenefit`	$-223.00K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-585.02K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-511.45K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-41.92K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-513.76K	USD	3 Qtrs
Loss per common share, basic and diluted	`EarningsPerShareBasic`	$-0.02	USD	1 Quarter
Loss per common share, basic and diluted	`EarningsPerShareBasic`	$-0.29	USD	1 Quarter
Loss per common share, basic and diluted	`EarningsPerShareBasic`	$-0.25	USD	3 Qtrs
Loss per common share, basic and diluted	`EarningsPerShareBasic`	$-0.25	USD	3 Qtrs
Average common shares outstanding, basic, and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	2.02M	shares	1 Quarter
Average common shares outstanding, basic, and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	2.02M	shares	3 Qtrs
Average common shares outstanding, basic, and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	2.02M	shares	1 Quarter
Average common shares outstanding, basic, and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	2.02M	shares	3 Qtrs

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-585.02K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-511.45K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-41.92K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-513.76K	USD	3 Qtrs
Bad debt expense	`IncreaseDecreaseBadDebtExpense`	$596.29K	USD	3 Qtrs
Bad debt expense	`IncreaseDecreaseBadDebtExpense`	$209.00K	USD	3 Qtrs
Provision (Benefit) for deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$198.00K	USD	3 Qtrs
Provision (Benefit) for deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$223.00K	USD	3 Qtrs
Disposition of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-40.99K	USD	3 Qtrs
Disposition of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	3 Qtrs
Depreciation	`OtherDepreciationAndAmortization`	$1.34M	USD	3 Qtrs
Depreciation	`OtherDepreciationAndAmortization`	$1.19M	USD	3 Qtrs
Amortization of deferred charges	`AmortizationOfDeferredCharges`	$213.00K	USD	3 Qtrs
Amortization of deferred charges	`AmortizationOfDeferredCharges`	$291.20K	USD	3 Qtrs
Operating lease expense in excess of cash payments	`OperatingLeaseExpenseInExcessOfCashPayments`	$868.98K	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`	$22.46K	USD	3 Qtrs
Deferred Charges	`IncreaseDecreaseInDeferredCharges`	$46.59K	USD	3 Qtrs
Deferred Charges	`IncreaseDecreaseInDeferredCharges`	$1.14M	USD	3 Qtrs
Net realized and unrealized (gain) loss on marketable securities	`GainLossOnInvestments`	$-176.85K	USD	3 Qtrs
Net realized and unrealized (gain) loss on marketable securities	`GainLossOnInvestments`	$359.93K	USD	3 Qtrs
Receivables	`IncreaseDecreaseInAccountsReceivable`	$367.65K	USD	3 Qtrs
Receivables	`IncreaseDecreaseInAccountsReceivable`	$549.08K	USD	3 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-989.89K	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`	$498.26K	USD	3 Qtrs
Security deposits payable	`IncreaseDecreaseInSecurityDeposits`	$-73.58K	USD	3 Qtrs
Security deposits payable	`IncreaseDecreaseInSecurityDeposits`	$4.44K	USD	3 Qtrs
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.22M	USD	3 Qtrs
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.50M	USD	3 Qtrs
Property and equipment costs	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.44M	USD	3 Qtrs
Property and equipment costs	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.78M	USD	3 Qtrs
Receipts from sales	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$494.99K	USD	3 Qtrs
Receipts from sales	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$621.16K	USD	3 Qtrs
Payments for purchases	`PaymentsToAcquireMarketableSecurities`	$705.17K	USD	3 Qtrs
Payments for purchases	`PaymentsToAcquireMarketableSecurities`	$581.47K	USD	3 Qtrs
Cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.52M	USD	3 Qtrs
Cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.87M	USD	3 Qtrs
Proceeds from borrowing - mortgage	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	3 Qtrs
Proceeds from borrowing - mortgage	`ProceedsFromIssuanceOfLongTermDebt`	$4.87M	USD	3 Qtrs
Payments - mortgage and other debt	`RepaymentsOfLongTermDebt`	$855.61K	USD	3 Qtrs
Payments - mortgage and other debt	`RepaymentsOfLongTermDebt`	$323.82K	USD	3 Qtrs
Mortgage financing cost paid	`PaymentsOfLoanCosts`	-	USD	3 Qtrs
Mortgage financing cost paid	`PaymentsOfLoanCosts`	$232.20K	USD	3 Qtrs
Cash provided (used) in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-855.61K	USD	3 Qtrs
Cash provided (used) in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$4.31M	USD	3 Qtrs
Increase (decrease) in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$2.01M	USD	3 Qtrs
Increase (decrease) in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-1.23M	USD	3 Qtrs
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 beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$7.27M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.26M	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
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$7.27M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.26M	USD	Point-in-time

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$54.09M	USD	Point-in-time
Balance	`StockholdersEquity`	$53.70M	USD	Point-in-time
Balance	`StockholdersEquity`	$53.23M	USD	Point-in-time
Balance	`StockholdersEquity`	$54.68M	USD	Point-in-time
Balance	`StockholdersEquity`	$54.61M	USD	Point-in-time
Balance	`StockholdersEquity`	$53.19M	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-585.02K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-511.45K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-41.92K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-513.76K	USD	3 Qtrs
Balance	`StockholdersEquity`	$54.09M	USD	Point-in-time
Balance	`StockholdersEquity`	$53.70M	USD	Point-in-time
Balance	`StockholdersEquity`	$53.23M	USD	Point-in-time
Balance	`StockholdersEquity`	$54.68M	USD	Point-in-time
Balance	`StockholdersEquity`	$54.61M	USD	Point-in-time
Balance	`StockholdersEquity`	$53.19M	USD	Point-in-time

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