J.W. Mays(US:MAYS)2025-06-12 13:01Financial Performance - For the three months ended April 30, 2025, the company reported net income of $86,784, or $0.04 per share, compared to a net loss of $(84,880), or $(0.04) per share for the same period in 2024[70]. - Revenues for the three months increased to $5,632,151 from $5,364,324, primarily due to increased rent from existing tenants and new leases[71]. - For the nine months ended April 30, 2025, the company reported a net loss of $(44,240), or $(0.02) per share, an improvement from a net loss of $(375,483), or $(0.19) per share in the same period in 2024[74]. - Revenues for the nine months increased to $16,814,724 from $16,102,968, driven by increased rent from existing tenants and new leases[75]. Expenses and Liabilities - Real estate operating expenses for the nine months increased to $11,700,830 from $11,346,113, mainly due to higher real estate taxes and insurance expenses[76]. - The company incurred $277,252 for brokerage commissions during the nine months ended April 30, 2025, primarily related to a tenant's lease extension[92]. - The company’s outstanding mortgage debt was approximately $3.3 million, with a maturity date of April 1, 2040, but the lender has the right to demand repayment at any time[96]. Future Projections and Capital Expenditures - The company anticipates incurring an additional $1.2 million in capital expenditures over the next twelve months ending April 30, 2026[94]. - The loss of rental income from tenants not renewing leases is approximately $1,147,000 per annum, affecting future revenue projections[89][90]. Risks and Uncertainties - The company acknowledges the inherent risks and uncertainties in forward-looking statements, including economic growth rates and interest rates fluctuations[99]. - Key risks include potential lease cancellations and loss of key tenants, which could significantly impact revenue[99]. - The company emphasizes the importance of maintaining compliance with loan covenants to ensure financial stability[99]. - There is a focus on the potential impact of climate change and cybersecurity threats on operations and financial performance[99]. - The company does not commit to updating forward-looking statements, advising stakeholders to refer to additional disclosures in SEC filings[101]. Liquidity - As of April 30, 2025, the company had cash and cash equivalents of $2,278,824, with total liquidity including proceeds from fixed-rate borrowings[95].