Financial Performance - In the three months ended January 31, 2025, the company reported a net loss of $(157,681), or $(0.08) per share, compared to a net loss of $(98,059), or $(0.04) per share in the same period of 2024[72]. - For the six months ended January 31, 2025, the company reported a net loss of $(131,024), or $(0.07) per share, an improvement from a net loss of $(290,603), or $(0.14) per share in the same period of 2024[77]. Revenue and Expenses - Revenues for the three months increased to $5,643,444 from $5,414,843 in the comparable period, primarily due to increased rent from existing tenants and new leases[73]. - Revenues for the six months increased to $11,182,573 from $10,738,644, driven by increased rent from existing tenants and new leases[78]. - Real estate operating expenses rose to $4,128,415 from $3,826,998, mainly due to higher real estate taxes, maintenance, and insurance expenses[74]. Capital Expenditures and Liquidity - The company anticipates incurring an additional $1.5 million in capital expenditures over the next twelve months ending January 31, 2026[93]. - Total liquidity as of January 31, 2025, consists of cash and cash equivalents of $1,490,663, which includes proceeds from fixed-rate borrowings[93]. Tenant Agreements and Leasing - A tenant at the company's 9 Bond Street building agreed to a six-month rent concession of $25,000 per month from February until July 2025[89]. - The company leased 2,051 square feet to an office tenant in Jamaica, New York, with monthly rent of approximately $5,500, commencing January 1, 2025[83]. Financing Activities - The company is exploring other lending options to replace a mortgage that was fully paid off on December 1, 2024[94].
J.W. Mays(MAYS) - 2025 Q2 - Quarterly Report