$MAYS

MAYS J W INC

CIK:0000054187|SEC Filings

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Apr. 30, 2026	Apr. 30, 2025	Apr. 30, 2026	Apr. 30, 2025
Revenues
Rental income	$ 5,314,751	$ 5,632,151	$ 15,777,647	$ 16,814,724
Total revenues	5,314,751	5,632,151	15,777,647	16,814,724
Expenses
Real estate operating expenses	3,999,990	3,822,276	12,204,787	11,700,830
Administrative and general expenses	1,164,625	1,239,480	3,680,364	3,784,108
Depreciation	471,707	457,285	1,414,646	1,346,625
Total expenses	5,636,322	5,519,041	17,299,797	16,831,563
Income/(Loss) from operations	(321,571)	113,110	(1,522,150)	(16,839)
Other income (expenses):
Dividend and interest income	5,930	7,979	18,300	16,406
Interest expense, net of capitalized interest	6,778	(11,305)		(60,807)
Total other income (expenses)	12,708	(3,326)	18,300	(44,401)
Income/(Loss) before income taxes	(308,863)	109,784	(1,503,850)	(61,240)
Income taxes provision (benefit)	(92,000)	23,000	(444,000)	(17,000)
Net income/(loss)	$ (216,863)	$ 86,784	$ (1,059,850)	$ (44,240)
Income/(Loss) per common share, basic	$ (0.11)	$ 0.04	$ (0.53)	$ (0.02)
Income/(Loss) per common share, diluted	(0.11)	0.04	(0.53)	(0.02)
Dividends per share
Average common shares outstanding, basic	2,015,780	2,015,780	2,015,780	2,015,780
Average common shares outstanding, diluted	2,015,780	2,015,780	2,015,780	2,015,780

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Apr. 30, 2026	Apr. 30, 2025
Cash Flows From Operating Activities:
Net loss	$ (1,059,850)	$ (44,240)
Adjustments to reconcile net (loss) to net cash provided by operating activities:
Bad debt expense	15,073	6,289
Provision (benefit) for deferred income taxes	(444,000)	(17,000)
Depreciation	1,414,646	1,346,625
Loss on fixed asset disposal	167,700
Amortization of deferred charges	542,311	377,443
Operating lease expense in excess of cash payments	455,818	622,991
Deferred finance costs included in interest expense	1,165	16,519
Changes in Operating Assets and Liabilities:
Receivables	(2,803)	29,757
Deferred costs	(203,836)	(277,252)
Prepaid expenses and other assets	1,576,496	1,347,557
Accounts payable and accrued expenses	113,850	(68,172)
Security deposits payable	56,704	7,334
Cash provided by operating activities	2,633,274	3,347,851
Cash Flows From Investing Activities:
Acquisition of property and equipment	(4,145,391)	(1,723,076)
Cash (used) in investing activities	(4,145,391)	(1,723,076)
Cash Flows From Financing Activities:
Proceeds - mortgage	6,200,000
Payments - mortgage financing cost	(69,501)
Payments - mortgages	(3,235,562)	(615,073)
Cash provided (used) in financing activities	2,894,937	(615,073)
Increase in cash, cash equivalents and restricted cash	1,382,820	1,009,702
Cash, cash equivalents and restricted cash at beginning of period	1,758,745	2,285,601
Cash, cash equivalents and restricted cash at end of period	$ 3,141,565	$ 3,295,303

Consolidated Balance Sheets (Unaudited) - USD ($)	Apr. 30, 2026	Jul. 31, 2025
Property and Equipment-at cost:
Land	$ 6,067,805	$ 6,067,805
Buildings held for leasing:
Buildings, improvements, and fixtures	83,236,067	81,018,716
Construction in progress	4,915,132	3,270,919
Property, plant and equipment, gross	88,151,199	84,289,635
Accumulated depreciation	(42,901,908)	(41,603,389)
Buildings - net	45,249,291	42,686,246
Property and equipment-net	51,317,096	48,754,051
Cash and cash equivalents	2,110,713	748,597
Restricted cash	1,030,852	1,010,148
Receivables, net	3,947,460	3,959,730
Prepaids and other assets	1,718,405	3,294,901
Deferred charges, net	3,179,342	3,517,817
Operating lease right-of-use assets	26,917,308	26,764,182
TOTAL ASSETS	90,221,176	88,049,426
Liabilities:
Mortgages payable	6,131,664	3,235,561
Accounts payable and accrued expenses	3,004,924	2,891,074
Security deposits payable	1,148,929	1,092,225
Operating lease liabilities	24,643,612	24,034,669
Deferred income taxes	3,590,000	4,034,000
Total Liabilities	38,519,129	35,287,529
Shareholders’ Equity:
Common stock, par value $1 each share (shares-5,000,000 authorized; 2,178,297 issued and 2,015,780 outstanding)	2,178,297	2,178,297
Additional paid in capital	3,346,245	3,346,245
Retained earnings	47,465,357	48,525,207
Stockholders' equity before treasury stock	52,989,899	54,049,749
Common stock held in treasury, at cost - 162,517 shares at April 30, 2026 and July 31, 2025	(1,287,852)	(1,287,852)
Total shareholders’ equity	51,702,047	52,761,897
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 90,221,176	$ 88,049,426