梅斯物业 2026年季度报告

UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549FORM10-Q Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller Large accelerated filer☐Accelerated filer☐Emerging growth company☐Non-accelerated filer☒Smaller reporting company☒ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes☐No☒ The number of shares outstanding of the registrant’s common stock as of March 12, 2026 was 2,015,780. Table of Contents INDEX Consolidated Balance Sheets (Unaudited) – January 31, 2026 and July 31, 20253Consolidated Statements of Operations (Unaudited) – Three and six months ended January 31, 2026 and 20254Consolidated Statements of Changes in Shareholders’ Equity (Unaudited) – Three and six months endedJanuary31,2026 and 20255Consolidated Statements of Cash Flows (Unaudited) – Six months ended January 31, 2026 and 20256Notes to Consolidated Financial Statements (Unaudited)7 - 14 Table of ContentsPart I - Financial InformationItem 1. Financial Statements J.W. MAYS, INC.CONSOLIDATED BALANCE SHEETS(UNAUDITED) Property and Equipment-at cost:LandBuildings held for leasing:Buildings, improvements, and fixturesConstruction in progress Accumulated depreciationBuildings - netProperty and equipment-netCash and cash equivalentsRestricted cashReceivables, netPrepaids and other assetsDeferred charges, netOperating lease right-of-use assetsTOTAL ASSETS LIABILITIES AND SHAREHOLDERS’ EQUITY Net lossAdjustments to reconcile net income (loss) to net cash provided by operating activities:Bad debt expense 1.Summary of Significant Accounting Policies: Use of Estimates The accounting records are maintained in accordance with accounting principles generally accepted in the United States of America(“GAAP”). The preparation of the Company’s financial statements in accordance with GAAP requires management to make estimatesand assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements, the disclosure ofcontingent assets and liabilities, incremental borrowing rates and recognition of renewal options for operating lease right-of-use assetsand liabilities, and the reported amounts of revenues and expenses during the reporting period. The estimates that we make include Basis of Presentation The interim financial statements are prepared pursuant to the instructions for reporting on Form 10-Q and Article 8 of Regulations S-Xof the Securities & Exchange Commission (“SEC”) Rules and Regulations. The July 31, 2025 consolidated balance sheet was derivedfrom audited financial statements but does not include all disclosures required by GAAP. The interim financial statements and notesthereto should be read in conjunction with the financial statements and notes included in the Company’s latest Form 10-K Annual Restricted Cash Restricted cash primarily consists of cash held in bank accounts for tenant security deposits and other amounts required under certainloan agreements. Accounts Receivable Generally, rent is due from tenants at the beginning of the month in accordance with terms of each lease. Based upon its periodicassessment of the quality of the receivables, management uses its historical knowledge of the tenants and industry experience todetermine whether a reserve or write-off is required. The Company uses specific identification to write-off receivables to bad debtexpense in the period when issues of collectability become known. Collectability issues include late rent payments, circumstanceswhen a tenant indicates their intention to vacate the property without paying, or when tenant litigation or bankruptcy proceedings arenot expected to result in full payment. Management also assesses collectability by reviewing accounts receivable on an aggregate basis The Company’s allowance for credit losses is recorded as an offset to receivables. Activity in the allowance for credit losses for eachperiod follows: Table of Contents Property and Equi