10-Q Filing

MANHATTAN BRIDGE CAPITAL, INC CIK: 1080340 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001144204-15-026878`
Period End Date	20150331
Filing Date	20150501
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	loan-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 32 Cash Flow Statement 54

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.02M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$256.28K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$931.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$47.68K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Short term loans receivable	`NotesAndLoansReceivableNetCurrent`	$17.01M	USD	Point-in-time
Short term loans receivable	`NotesAndLoansReceivableNetCurrent`	$19.14M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Interest receivable on loans	`InterestReceivableCurrent`	$219.30K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Interest receivable on loans	`InterestReceivableCurrent`	$213.77K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$27.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$52.30K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	6.26M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	6.27M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$19.43M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	6.08M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	6.09M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$17.53M	USD	Point-in-time
Long term loans receivable	`NotesAndLoansReceivableNetNoncurrent`	$4.89M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	177,000.00	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	177,000.00	shares	Point-in-time
Long term loans receivable	`NotesAndLoansReceivableNetNoncurrent`	$6.75M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$19.09K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$17.50K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$12.50K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	-	USD	Point-in-time
Security deposit	`SecurityDeposit`	$6.82K	USD	Point-in-time
Security deposit	`SecurityDeposit`	$6.82K	USD	Point-in-time
Investment in privately held company	`CostMethodInvestments`	$65.00K	USD	Point-in-time
Investment in privately held company	`CostMethodInvestments`	$65.00K	USD	Point-in-time
Deferred financing costs	`DeferredFinanceCostsNoncurrentNet`	$32.50K	USD	Point-in-time
Deferred financing costs	`DeferredFinanceCostsNoncurrentNet`	$119.64K	USD	Point-in-time
Total assets	`Assets`	$24.44M	USD	Point-in-time
Total assets	`Assets`	$24.51M	USD	Point-in-time
Short term loans	`ShortTermBorrowings`	$2.47M	USD	Point-in-time
Short term loans	`ShortTermBorrowings`	$1.10M	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$9.32M	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$7.70M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$163.62K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$66.06K	USD	Point-in-time
Deferred origination fees	`DeferredOriginationFees`	$166.53K	USD	Point-in-time
Deferred origination fees	`DeferredOriginationFees`	$244.78K	USD	Point-in-time
Total liabilities, all current	`LiabilitiesCurrent`	$10.64M	USD	Point-in-time
Total liabilities, all current	`LiabilitiesCurrent`	$10.58M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred shares - $.01 par value; 5,000,000 shares authorized; no shares issued	`PreferredStockValue`	-	USD	Point-in-time
Preferred shares - $.01 par value; 5,000,000 shares authorized; no shares issued	`PreferredStockValue`	-	USD	Point-in-time
Common shares - $.001 par value; 25,000,000 authorized; 6,266,089 and 6,260,689 issued; 6,089,089 and 6,083,689 outstanding	`CommonStockValue`	$6.26K	USD	Point-in-time
Common shares - $.001 par value; 25,000,000 authorized; 6,266,089 and 6,260,689 issued; 6,089,089 and 6,083,689 outstanding	`CommonStockValue`	$6.27K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$14.13M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$14.12M	USD	Point-in-time
Treasury stock, at cost - 177,000	`TreasuryStockValue`	$369.33K	USD	Point-in-time
Treasury stock, at cost - 177,000	`TreasuryStockValue`	$369.33K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$113.35K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$102.25K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$13.87M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$13.87M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$24.51M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$24.44M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Interest income from loans	`InterestIncomeFromLoans`	$756.75K	USD	1 Quarter
Interest income from loans	`InterestIncomeFromLoans`	$507.37K	USD	1 Quarter
Origination fees	`OriginationFees`	$155.01K	USD	1 Quarter
Origination fees	`OriginationFees`	$101.54K	USD	1 Quarter
Total revenue	`Revenues`	$911.76K	USD	1 Quarter
Total revenue	`Revenues`	$608.91K	USD	1 Quarter
Interest and amortization of debt service costs	`InterestAndAmortizationOfDebtServiceCosts`	$116.42K	USD	1 Quarter
Interest and amortization of debt service costs	`InterestAndAmortizationOfDebtServiceCosts`	$183.06K	USD	1 Quarter
Referral fees	`ReferralFees`	$109.00	USD	1 Quarter
Referral fees	`ReferralFees`	$1.20K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$176.00K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$251.91K	USD	1 Quarter
Total operating costs and expenses	`OperatingCostsAndExpenses`	$436.17K	USD	1 Quarter
Total operating costs and expenses	`OperatingCostsAndExpenses`	$292.53K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$316.38K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$475.60K	USD	1 Quarter
Other income (Note 4)	`OtherNonoperatingIncome`	$6.89K	USD	1 Quarter
Other income (Note 4)	`OtherNonoperatingIncome`	-	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$323.27K	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$475.60K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$115.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$475.60K	USD	1 Quarter
Net income	`NetIncomeLoss`	$208.27K	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.05	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.08	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.05	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.08	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	6.09M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.26M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.29M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	6.13M	shares	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$475.60K	USD	1 Quarter
Net income	`NetIncomeLoss`	$208.27K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$3.42K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	-	USD	1 Quarter
Depreciation	`Depreciation`	-	USD	1 Quarter
Depreciation	`Depreciation`	$1.59K	USD	1 Quarter
Non cash compensation expense	`ShareBasedCompensation`	$3.42K	USD	1 Quarter
Non cash compensation expense	`ShareBasedCompensation`	$3.42K	USD	1 Quarter
Interest receivable on loans	`IncreaseDecreaseInAccruedInterestReceivableNet`	$5.53K	USD	1 Quarter
Interest receivable on loans	`IncreaseDecreaseInAccruedInterestReceivableNet`	$16.86K	USD	1 Quarter
Other current and non current assets	`IncreaseDecreaseInOtherOperatingAssets`	$25.31K	USD	1 Quarter
Other current and non current assets	`IncreaseDecreaseInOtherOperatingAssets`	$15.75K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-39.60K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-97.56K	USD	1 Quarter
Deferred origination fees	`IncreaseDecreaseInDeferredOriginationFees`	$8.50K	USD	1 Quarter
Deferred origination fees	`IncreaseDecreaseInDeferredOriginationFees`	$78.24K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	-	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-160.00K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-29.03K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$277.38K	USD	1 Quarter
Issuance of short term loans	`IssuanceOfShortTermLoans`	$4.77M	USD	1 Quarter
Issuance of short term loans	`IssuanceOfShortTermLoans`	$2.81M	USD	1 Quarter
Collections received from loans	`ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment`	$3.08M	USD	1 Quarter
Collections received from loans	`ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment`	$3.89M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$271.52K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-881.00K	USD	1 Quarter
Proceeds from (repayments of) lines of credit, net	`ProceedsFromRepaymentsOfLinesOfCredit`	$1.62M	USD	1 Quarter
Proceeds from (repayments of) lines of credit, net	`ProceedsFromRepaymentsOfLinesOfCredit`	$-50.00K	USD	1 Quarter
Repayments of short-term loans, net	`RepaymentsOfDebt`	$1.37M	USD	1 Quarter
Repayments of short-term loans, net	`RepaymentsOfDebt`	-	USD	1 Quarter
Deferred financing costs	`PaymentsOfFinancingCosts`	$90.56K	USD	1 Quarter
Deferred financing costs	`PaymentsOfFinancingCosts`	-	USD	1 Quarter
Capital raising costs	`PaymentsOfStockIssuanceCosts`	$12.50K	USD	1 Quarter
Capital raising costs	`PaymentsOfStockIssuanceCosts`	$17.50K	USD	1 Quarter
Dividend paid	`PaymentsOfDividends`	$486.69K	USD	1 Quarter
Dividend paid	`PaymentsOfDividends`	$42.56K	USD	1 Quarter
Proceeds from exercise of stock options and warrants	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$7.26K	USD	1 Quarter
Proceeds from exercise of stock options and warrants	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	-	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-110.06K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-340.29K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.02M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$208.61K	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.02M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$256.28K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$931.00	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$47.68K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.02M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$256.28K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$931.00	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$47.68K	USD	Point-in-time
Taxes paid during the period	`IncomeTaxesPaid`	-	USD	1 Quarter
Taxes paid during the period	`IncomeTaxesPaid`	$275.00K	USD	1 Quarter
Interest paid during the period	`InterestPaid`	$179.64K	USD	1 Quarter
Interest paid during the period	`InterestPaid`	$116.42K	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.