2022 Q3 Form 10-K Financial Statement

#000120677422002558 Filed on October 20, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 2021
Revenue $5.504M $21.40M $20.21M
YoY Change 6.48% 5.85% 3.5%
Cost Of Revenue $3.599M $14.66M $14.31M
YoY Change 5.1% 2.49% 2.05%
Gross Profit $1.905M $6.733M $5.906M
YoY Change 9.19% 14.01% 7.19%
Gross Profit Margin 34.61% 31.47% 29.22%
Selling, General & Admin $1.545M $5.648M $4.958M
YoY Change 28.62% 13.91% -2.59%
% of Gross Profit 81.1% 83.88% 83.95%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $416.9K $1.742M $1.785M
YoY Change -7.39% -2.41% 7.56%
% of Gross Profit 21.88% 25.88% 30.23%
Operating Expenses $1.962M $22.05M $6.744M
YoY Change 18.81% 227.02% -0.09%
Operating Profit -$56.78K -$657.0K -$837.8K
YoY Change -160.8% -21.58% -32.44%
Interest Expense -$63.98K $252.0K $354.1K
YoY Change -140.66% -28.84% -1870.4%
% of Operating Profit
Other Income/Expense, Net -$345.4K $1.077M
YoY Change -132.07%
Pretax Income -$120.8K -$1.002M $239.0K
YoY Change -112.4% -519.35% -118.97%
Income Tax -$52.00K -$290.0K -$159.0K
% Of Pretax Income -66.52%
Net Earnings -$68.75K -$712.4K $398.0K
YoY Change -107.56% -278.97% -143.74%
Net Earnings / Revenue -1.25% -3.33% 1.97%
Basic Earnings Per Share -$0.35 $0.20
Diluted Earnings Per Share -$34.11K -$353.4K $197.5K
COMMON SHARES
Basic Shares Outstanding 2.016M shares 2.016M shares 2.016M shares
Diluted Shares Outstanding 2.016M shares

Balance Sheet

Concept 2022 Q3 2022 2021
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.782M $1.021M $1.552M
YoY Change -30.66% -34.26% -52.96%
Cash & Equivalents $1.021M $1.021M $1.552M
Short-Term Investments $2.761M
Other Short-Term Assets $2.629M $2.629M $2.385M
YoY Change 10.23% 10.23% -0.64%
Inventory
Prepaid Expenses $2.629M
Receivables $2.771M $2.771M $2.417M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $6.420M $6.420M $6.354M
YoY Change 1.04% 1.04% -19.57%
LONG-TERM ASSETS
Property, Plant & Equipment $48.06M $80.17M $82.63M
YoY Change -0.02% -2.98% -2.44%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.761M $2.761M $3.901M
YoY Change -29.22% -29.22% 5.43%
Other Assets $4.664M $4.664M $4.622M
YoY Change 0.92% 0.92% 12.72%
Total Long-Term Assets $87.59M $87.59M $91.16M
YoY Change -3.91% -3.91% -1.45%
TOTAL ASSETS
Total Short-Term Assets $6.420M $6.420M $6.354M
Total Long-Term Assets $87.59M $87.59M $91.16M
Total Assets $94.01M $94.01M $97.51M
YoY Change -3.59% -3.59% -2.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.322M $2.322M $2.633M
YoY Change -11.82% -11.82% 2532.91%
Accrued Expenses $26.60M $26.60M $27.84M
YoY Change -4.46% -4.46% -12.17%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.252M $1.252M $1.199M
YoY Change 4.47% 4.47% 8.96%
Total Short-Term Liabilities $31.23M $31.23M $32.51M
YoY Change -3.94% -3.94% -3.54%
LONG-TERM LIABILITIES
Long-Term Debt $5.106M $5.106M $6.320M
YoY Change -19.21% -19.21% -22.92%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $5.106M $5.106M $6.320M
YoY Change -19.21% -19.21% -22.92%
TOTAL LIABILITIES
Total Short-Term Liabilities $31.23M $31.23M $32.51M
Total Long-Term Liabilities $5.106M $5.106M $6.320M
Total Liabilities $40.62M $40.62M $43.41M
YoY Change -6.42% -6.42% -7.05%
SHAREHOLDERS EQUITY
Retained Earnings $49.15M
YoY Change -1.43%
Common Stock $5.525M
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.288M
YoY Change 0.0%
Treasury Stock Shares 162.5K shares
Shareholders Equity $53.39M $53.39M $54.10M
YoY Change
Total Liabilities & Shareholders Equity $94.01M $94.01M $97.51M
YoY Change -3.59% -3.59% -2.88%

Cashflow Statement

Concept 2022 Q3 2022 2021
OPERATING ACTIVITIES
Net Income -$68.75K -$712.4K $398.0K
YoY Change -107.56% -278.97% -143.74%
Depreciation, Depletion And Amortization $416.9K $1.742M $1.785M
YoY Change -7.39% -2.41% 7.56%
Cash From Operating Activities -$873.5K $1.689M $1.068M
YoY Change 103.56% 58.12% -31.95%
INVESTING ACTIVITIES
Capital Expenditures -$330.4K $1.734M -$2.254M
YoY Change -30.07% -176.92% -64.56%
Acquisitions
YoY Change
Other Investing Activities $601.6K $878.1K $363.7K
YoY Change 33.63% 141.41% -463.72%
Cash From Investing Activities $271.2K -$855.7K -$1.890M
YoY Change -1317.24% -54.73% -70.74%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $1.199M $1.147M
YoY Change 4.47%
Cash From Financing Activities -304.7K -$1.199M -1.147M
YoY Change 4.46% 4.47% -128.47%
NET CHANGE
Cash From Operating Activities -873.5K $1.689M 1.068M
Cash From Investing Activities 271.2K -$855.7K -1.890M
Cash From Financing Activities -304.7K -$1.199M -1.147M
Net Change In Cash -907.0K -$364.8K -1.969M
YoY Change 22.06% -81.47% 128.96%
FREE CASH FLOW
Cash From Operating Activities -$873.5K $1.689M $1.068M
Capital Expenditures -$330.4K $1.734M -$2.254M
Free Cash Flow -$543.1K -$44.27K $3.322M
YoY Change -1351.6% -101.33% -58.1%

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CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2022Q3 mays Rent Deferrals
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250000 usd
CY2021Q3 mays Rent Deferrals
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CY2022 mays Impact Of Covid19 On Our Results And Operations
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<p style="text-align: justify"><b><span style="font-size: 13px; font-family: Times New Roman;">The Impact of COVID-19 on Our Results and Operations</span></b></p><div> </div><p style="text-indent: 15pt; text-align: justify"><span style="font-size: 13px; font-family: Times New Roman;">Beginning March 2020 and continuing through July 2022, we experienced an increase in late payments due to the impact of COVID-19 and the related reductions in economic activity from ongoing government mandated business regulations. The effects of COVID-19 on our tenants have been reflected in our allowance for credit losses for accounts receivable. In limited circumstances, we have agreed to rent deferrals for certain tenants. We also continue to experience volatility in the valuation of our equity investments through July 31, 2022.</span></p><div> </div><p style="text-indent: 15pt; text-align: justify"><span style="font-size: 13px; font-family: Times New Roman;">Looking ahead, the full impact of COVID-19 and continuing government regulation on our business is unknown and highly unpredictable. Our past results may not be indicative of our future performance and historical trends in revenues, income from operations, net income, earnings per share, cash provided by operating activities, among others, may differ materially. For example, to the extent the post pandemic effects continue to disrupt economic activity nationally and in New York, NY, like other businesses, it could adversely affect our business operations and financial results through prolonged decreases in revenue, credit deterioration of our tenants, depressed economic activity, or declines in capital markets. In addition, many of our expenses are less variable in nature and may not correlate to changes in revenues. The extent of the impact will depend on a number of factors, including the duration and severity of the pandemic; distribution of vaccines; and the macroeconomic impact of government measures to contain the spread of the virus and related government regulations.</span></p><div> </div>
CY2022 dei Entity Voluntary Filers
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No
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Non-accelerated Filer
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CY2021Q3 us-gaap Available For Sale Securities Debt Securities
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CY2021Q3 us-gaap Allowance For Doubtful Accounts Receivable
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CY2022 dei Entity Shell Company
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CY2022 us-gaap Property Plant And Equipment Impairment
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<p style="TEXT-ALIGN: left"><b><span style="font-size: 13px; font-family: Times New Roman;">Impairment</span></b></p><div> </div><p style="TEXT-ALIGN: left; TEXT-INDENT: 20px"><span style="font-size: 13px; font-family: Times New Roman;">The Company reviews property and equipment and related lease intangibles for possible impairment when certain events or changes in circumstances indicate the carrying amount of the asset may not be recoverable though operations plus estimated disposition proceeds. Events or changes in circumstances that may occur include, but are not limited to, significant changes in real estate market conditions, estimated residual values, and an expectation to sell assets before the end of the previously estimated life. Impairments are measured to the extent the current book value exceeds the estimated fair value of the asset less disposition costs for any assets classified as held for sale. As of July 31, 2022 and 2021, the Company has determined there was no impairment of its property and equipment.</span></p><div> </div>
CY2022Q3 us-gaap Land
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2022-07-31
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CY2021Q3 us-gaap Loans Payable To Bank
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CY2022 dei Document Fiscal Year Focus
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NY
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11-1059070
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9 Bond Street
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CY2022 dei City Area Code
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718
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CY2022 dei Security12b Title
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Common Stock, $1 par value
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NASDAQ
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CY2021Q3 mays Restricted Cash Other
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CY2022Q3 mays Cash Flow Information
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CY2021Q3 mays Cash Flow Information
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CY2021 us-gaap Interest Paid Net
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CY2021 us-gaap Income Taxes Paid Net
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CY2022Q3 mays Operating Lease Right Of Use Asset Gross
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CY2022Q3 mays Operating Lease Liability Gross
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CY2021 us-gaap Interest Expense
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CY2021 us-gaap Nonoperating Income Expense
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CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-290000 usd
CY2021 us-gaap Income Tax Expense Benefit
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CY2022 us-gaap Net Income Loss
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CY2021 us-gaap Net Income Loss
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CY2022 us-gaap Earnings Per Share Basic
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CY2021 us-gaap Earnings Per Share Basic
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0.20
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
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2015780 shares
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
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2015780 shares
CY2020Q3 us-gaap Stockholders Equity
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CY2021 us-gaap Net Income Loss
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CY2021Q3 us-gaap Stockholders Equity
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CY2022Q3 us-gaap Stockholders Equity
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CY2021 us-gaap Net Income Loss
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CY2022 mays Increase Decrease Bad Debt Expense
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352920 usd
CY2021 mays Increase Decrease Bad Debt Expense
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236000 usd
CY2022 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
290000 usd
CY2021 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
159000 usd
CY2022 us-gaap Gain Loss On Investments
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131786 usd
CY2021 us-gaap Gain Loss On Investments
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CY2022 us-gaap Marketable Securities Unrealized Gain Loss
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CY2021 us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
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1742458 usd
CY2021 us-gaap Other Depreciation And Amortization
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CY2022 us-gaap Amortization Of Deferred Charges
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507564 usd
CY2021 us-gaap Amortization Of Deferred Charges
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CY2022 mays Operating Lease Expense In Excess Of Cash Payments
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CY2021 mays Operating Lease Expense In Excess Of Cash Payments
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1306833 usd
CY2022 us-gaap Amortization Of Financing Costs
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38112 usd
CY2021 us-gaap Amortization Of Financing Costs
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38112 usd
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CY2022 us-gaap Increase Decrease In Deferred Charges
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CY2021 us-gaap Increase Decrease In Deferred Charges
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CY2022 us-gaap Increase Decrease In Accounts Receivable
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CY2021 us-gaap Increase Decrease In Accounts Receivable
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432823 usd
CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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243843 usd
CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-4855 usd
CY2022 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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-311141 usd
CY2022 us-gaap Amortization Of Deferred Charges
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507564 usd
CY2021 us-gaap Amortization Of Deferred Charges
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CY2021 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P10Y
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Rolling Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextRollingTwelveMonths
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CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Two
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421307 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearThree
380093 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFour
357601 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFive
323830 usd
mays Lease Payments Description
LeasePaymentsDescription
504-506 Fulton Street, Brooklyn, New York – Modification of the lease agreement to increase monthly lease payments from $30,188 per month to $34,716 per month commencing on May 1, 2026 through April 30, 2031.
CY2021 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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-138635 usd
CY2022 us-gaap Increase Decrease In Security Deposits
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216958 usd
CY2022Q3 us-gaap Treasury Stock Shares
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162517 shares
CY2021Q3 us-gaap Treasury Stock Shares
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162517 shares
CY2022Q3 mays Tenant Lease
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58832 pure
CY2022 mays Lease Expiration Date
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February 2023
CY2022Q3 us-gaap Payments For Rent
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576259 usd
CY2022 us-gaap Brokerage Commissions Revenue
BrokerageCommissionsRevenue
27084 usd
CY2022 dei Auditor Name
AuditorName
Prager Metis CPAs, LLC
CY2022 dei Auditor Firm
AuditorFirmId
273
CY2022 dei Auditor Location
AuditorLocation
Hackensack, NJ
CY2022 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
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CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
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CY2021 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
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CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
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CY2022 dei Amendment Flag
AmendmentFlag
false
CY2022 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2022 dei Entity Central Index Key
EntityCentralIndexKey
0000054187
CY2021 us-gaap Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
24818 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1689445 usd
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
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1068430 usd
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
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CY2021 us-gaap Payments To Acquire Property Plant And Equipment
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CY2022 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
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1001854 usd
CY2021 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
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CY2022 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
123807 usd
CY2021 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
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CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-855667 usd
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1890212 usd
CY2022 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1198600 usd
CY2021 us-gaap Repayments Of Long Term Debt
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1147300 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1198600 usd
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1147300 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-364822 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-1969082 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2434719 usd
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4403801 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2069897 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2434719 usd
CY2022 mays Impact Of Covid19 On Our Results And Operations
ImpactOfCovid19OnOurResultsAndOperations
<p style="text-align: justify"><b><span style="font-size: 13px; font-family: Times New Roman;">The Impact of COVID-19 on Our Results and Operations</span></b></p><div> </div><p style="text-indent: 15pt; text-align: justify"><span style="font-size: 13px; font-family: Times New Roman;">Beginning March 2020 and continuing through July 2022, we experienced an increase in late payments due to the impact of COVID-19 and the related reductions in economic activity from ongoing government mandated business regulations. The effects of COVID-19 on our tenants have been reflected in our allowance for credit losses for accounts receivable. In limited circumstances, we have agreed to rent deferrals for certain tenants. We also continue to experience volatility in the valuation of our equity investments through July 31, 2022.</span></p><div> </div><p style="text-indent: 15pt; text-align: justify"><span style="font-size: 13px; font-family: Times New Roman;">Looking ahead, the full impact of COVID-19 and continuing government regulation on our business is unknown and highly unpredictable. Our past results may not be indicative of our future performance and historical trends in revenues, income from operations, net income, earnings per share, cash provided by operating activities, among others, may differ materially. For example, to the extent the post pandemic effects continue to disrupt economic activity nationally and in New York, NY, like other businesses, it could adversely affect our business operations and financial results through prolonged decreases in revenue, credit deterioration of our tenants, depressed economic activity, or declines in capital markets. In addition, many of our expenses are less variable in nature and may not correlate to changes in revenues. The extent of the impact will depend on a number of factors, including the duration and severity of the pandemic; distribution of vaccines; and the macroeconomic impact of government measures to contain the spread of the virus and related government regulations.</span></p><div> </div>
CY2022Q3 us-gaap Available For Sale Securities Debt Securities
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CY2021Q3 us-gaap Available For Sale Securities Debt Securities
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CY2022Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
393000 usd
CY2021Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
318000 usd
CY2022 us-gaap Property Plant And Equipment Impairment
PropertyPlantAndEquipmentImpairment
<p style="TEXT-ALIGN: left"><b><span style="font-size: 13px; font-family: Times New Roman;">Impairment</span></b></p><div> </div><p style="TEXT-ALIGN: left; TEXT-INDENT: 20px"><span style="font-size: 13px; font-family: Times New Roman;">The Company reviews property and equipment and related lease intangibles for possible impairment when certain events or changes in circumstances indicate the carrying amount of the asset may not be recoverable though operations plus estimated disposition proceeds. Events or changes in circumstances that may occur include, but are not limited to, significant changes in real estate market conditions, estimated residual values, and an expectation to sell assets before the end of the previously estimated life. Impairments are measured to the extent the current book value exceeds the estimated fair value of the asset less disposition costs for any assets classified as held for sale. As of July 31, 2022 and 2021, the Company has determined there was no impairment of its property and equipment.</span></p><div> </div>
CY2022Q3 mays Rent Deferrals
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245000 usd
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CY2022 us-gaap Investment Income Interest
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222 usd
CY2021 us-gaap Investment Income Interest
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850 usd
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CY2022 mays Operating Lease Base Lease Rent Fixed
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19534802 usd
CY2021 mays Operating Lease Base Lease Rent Fixed
OperatingLeaseBaseLeaseRentFixed
18355925 usd
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839950 usd
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751618 usd
CY2022 us-gaap Operating Lease Variable Lease Income
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CY2021Q3 us-gaap Property Plant And Equipment Owned Gross
PropertyPlantAndEquipmentOwnedGross
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CY2022Q3 mays Property Plant And Equipmen Leased
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6641594 usd
CY2021Q3 mays Property Plant And Equipmen Leased
PropertyPlantAndEquipmenLeased
6557469 usd
CY2022 mays Operating Lease Base Lease Rent Fixed
OperatingLeaseBaseLeaseRentFixed
19534802 usd
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18355925 usd
CY2022 mays Non Lease Components Company Owned Property
Non-LeaseComponentsCompanyOwnedProperty
1234537 usd
CY2021 mays Non Lease Components Company Owned Property
Non-LeaseComponentsCompanyOwnedProperty
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CY2022 mays Non Lease Components Leased Property
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626696 usd
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619340 usd
CY2022Q3 us-gaap Property Plant And Equipment Owned Net
PropertyPlantAndEquipmentOwnedNet
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CY2021Q3 us-gaap Property Plant And Equipment Owned Net
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1856954 usd
CY2022 us-gaap Rental Income Nonoperating
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21396035 usd
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CY2022 mays Operating Leases Rent Expense Sublease Rentals
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CY2021 mays Operating Leases Rent Expense Sublease Rentals
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7176809 usd
CY2022 us-gaap Operating Lease Cost
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CY2022 mays Excess Of Sublease Income Over Rental Expense
ExcessOfSubleaseIncomeOverRentalExpense
3934884 usd
CY2021 mays Excess Of Sublease Income Over Rental Expense
ExcessOfSubleaseIncomeOverRentalExpense
3845966 usd
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CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
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0.0296 pure
CY2022 us-gaap Increase Decrease In Operating Liabilities
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-108000 usd
CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2021 us-gaap Income Tax Expense Benefit Intraperiod Tax Allocation
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-159000 usd
CY2022Q3 mays Percentage Of Other Condition Of Employment
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-722726 usd
CY2022 mays Income Tax Reconciliation Other Income Expense Net
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-48211 usd
CY2021 mays Income Tax Reconciliation Other Income Expense Net
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-21690 usd
CY2022 mays Adjusted Pretax Incomeloss
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-1050582 usd
CY2021 mays Adjusted Pretax Incomeloss
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-505384 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.21 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.21 pure
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CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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-106131 usd
CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2021 us-gaap Income Tax Effects Allocated Directly To Equity Other
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CY2022 us-gaap Income Tax Expense Benefit Intraperiod Tax Allocation
IncomeTaxExpenseBenefitIntraperiodTaxAllocation
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CY2021 us-gaap Income Tax Expense Benefit Intraperiod Tax Allocation
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-159000 usd
CY2022 us-gaap Interest Income Taxable Investment Securities Increase Decrease
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CY2022 us-gaap Deferred Income Tax Expense Benefit
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CY2021 us-gaap Defined Contribution Plan Cost Recognized
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CY2022 us-gaap Multiemployer Plan Contribution Rate Increase Decrease
MultiemployerPlanContributionRateIncreaseDecrease
0.09 pure
CY2021Q4 us-gaap Multiemployer Plan Contribution Rate Increase Decrease
MultiemployerPlanContributionRateIncreaseDecrease
0.1966 pure
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1020585 usd
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1552389 usd
CY2022Q3 mays Restricted Cash Tenant Security Deposits
RestrictedCashTenantSecurityDeposits
950430 usd
CY2021Q3 mays Restricted Cash Tenant Security Deposits
RestrictedCashTenantSecurityDeposits
783470 usd
CY2022Q3 us-gaap Escrow Deposit
EscrowDeposit
71742 usd
CY2021Q3 us-gaap Escrow Deposit
EscrowDeposit
71720 usd
CY2022Q3 mays Restricted Cash Other
RestrictedCashOther
27140 usd
CY2021Q3 mays Restricted Cash Other
RestrictedCashOther
27140 usd
CY2022Q3 mays Cash Flow Information
CashFlowInformation
2069897 usd
CY2021Q3 mays Cash Flow Information
CashFlowInformation
2434719 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
256431 usd
CY2021 us-gaap Interest Paid Net
InterestPaidNet
272070 usd
CY2021 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
-23040 usd
CY2022Q3 mays Operating Lease Right Of Use Asset Gross
OperatingLeaseRightOfUseAssetGross
94412 usd
CY2022Q3 mays Operating Lease Liability Gross
OperatingLeaseLiabilityGross
94412 usd
CY2022 us-gaap Amortization Of Deferred Charges
AmortizationOfDeferredCharges
507564 usd
CY2021 us-gaap Amortization Of Deferred Charges
AmortizationOfDeferredCharges
385967 usd
CY2021 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P10Y
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Rolling Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextRollingTwelveMonths
447803 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearTwo
421307 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearThree
380093 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFour
357601 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFive
323830 usd
mays Lease Payments Description
LeasePaymentsDescription
504-506 Fulton Street, Brooklyn, New York – Modification of the lease agreement to increase monthly lease payments from $30,188 per month to $34,716 per month commencing on May 1, 2026 through April 30, 2031.
CY2022Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
162517 shares
CY2021Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
162517 shares
CY2022Q3 mays Tenant Lease
TenantLease
58832 pure
CY2022 mays Lease Expiration Date
LeaseExpirationDate
February 2023
CY2022Q3 us-gaap Payments For Rent
PaymentsForRent
576259 usd
CY2022 us-gaap Brokerage Commissions Revenue
BrokerageCommissionsRevenue
27084 usd
CY2022 dei Auditor Name
AuditorName
Prager Metis CPAs, LLC
CY2022 dei Auditor Firm
AuditorFirmId
273
CY2022 dei Auditor Location
AuditorLocation
Hackensack, NJ
CY2022 dei Amendment Flag
AmendmentFlag
false
CY2022 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2022 dei Entity Central Index Key
EntityCentralIndexKey
0000054187

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0001206774-22-002558.txt Edgar Link pending
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