J.W. Mays(MAYS) - 2026 Q2 - Quarterly Report

Financial Performance - For the three months ended January 31, 2026, the company reported a net loss of $(508,960), or $(0.25) per share, compared to a net loss of $(157,681), or $(0.08) per share for the same period in 2025[71]. - For the six months ended January 31, 2026, the company reported a net loss of $(842,987), or $(0.42) per share, compared to a net loss of $(131,024), or $(0.07) per share for the same period in 2025[75]. Revenue - Revenues decreased to $5,211,482 from $5,643,444 in the comparable three months ended January 31, 2025, primarily due to tenant losses and rent concessions of $213,942[72]. - Revenues for the six months decreased to $10,462,896 from $11,182,573, primarily due to tenant losses and rent concessions of $333,942[76]. Operating Expenses - Real estate operating expenses for the three months were approximately $4,127,284, nearly unchanged from $4,128,415 in the same period last year[72]. - The company recorded an accounts payable of $637,200 related to capital improvements during the six months ended January 31, 2026[86]. Capital Expenditures and Debt - The company anticipates incurring an additional $12 million in capital expenditures over the next twelve months ending January 31, 2027[89]. - The company has outstanding mortgage debt of approximately $3.15 million, with a maturity date of April 1, 2040[90]. Liquidity - As of January 31, 2026, total liquidity consists of cash and cash equivalents of $434,420[89]. Other Income and Expenses - The company improved other income and interest expense to $(3,560) compared to $(21,561) in the comparable three months ended January 31, 2025, primarily due to decreased interest expense[74].