10-Q Filing

MANHATTAN BRIDGE CAPITAL, INC CIK: 1080340 Q2 2015

Filing Information

Form Type	10-Q
Accession Number	`0001144204-15-045344`
Period End Date	20150630
Filing Date	20150731
Fiscal Year	2015
Fiscal Period	Q2
XBRL Instance	loan-20150630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 68 Cash Flow Statement 62

Balance Sheet 67 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
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$135.50K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$45.36K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$47.68K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Short term loans receivable	`ShortTermLoansReceivable`	$19.14M	USD	Point-in-time
Short term loans receivable	`ShortTermLoansReceivable`	$14.84M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	25.00M	shares	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
Interest receivable on loans	`InterestReceivableCurrent`	$313.66K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$67.98K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	7.39M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	6.26M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$27.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	7.22M	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
Total current assets	`AssetsCurrent`	$15.27M	USD	Point-in-time
Long term loans receivable	`LongTermLoansReceivable`	$4.89M	USD	Point-in-time
Long term loans receivable	`LongTermLoansReceivable`	$11.07M	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
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$16.57K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$19.09K	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`	$50.00K	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`	$128.44K	USD	Point-in-time
Deferred financing costs	`DeferredFinanceCostsNoncurrentNet`	$32.50K	USD	Point-in-time
Total assets	`Assets`	$26.54M	USD	Point-in-time
Total assets	`Assets`	$24.44M	USD	Point-in-time
Short term loans	`ShortTermBorrowings`	$1.10M	USD	Point-in-time
Short term loans	`ShortTermBorrowings`	$2.47M	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$7.70M	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$6.99M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$163.62K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$87.01K	USD	Point-in-time
Deferred origination fees	`DeferredOriginationFees`	$175.45K	USD	Point-in-time
Deferred origination fees	`DeferredOriginationFees`	$244.78K	USD	Point-in-time
Total liabilities, all current	`LiabilitiesCurrent`	$8.35M	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; 7,394,489 and 6,260,689 issued; 7,217,489 and 6,083,689 outstanding	`CommonStockValue`	$7.39K	USD	Point-in-time
Common shares - $.001 par value; 25,000,000 authorized; 7,394,489 and 6,260,689 issued; 7,217,489 and 6,083,689 outstanding	`CommonStockValue`	$6.26K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$14.12M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$18.40M	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`	$145.56K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$18.18M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$13.87M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$24.44M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$26.54M	USD	Point-in-time

Income Statement 68 line items

Line Item	Tag	Value	Unit	Period
Interest income from loans	`InterestIncomeFromLoans`	$1.52M	USD	2 Qtrs
Interest income from loans	`InterestIncomeFromLoans`	$1.03M	USD	2 Qtrs
Interest income from loans	`InterestIncomeFromLoans`	$764.33K	USD	1 Quarter
Interest income from loans	`InterestIncomeFromLoans`	$518.07K	USD	1 Quarter
Origination fees	`OriginationFees`	$213.56K	USD	2 Qtrs
Origination fees	`OriginationFees`	$302.64K	USD	2 Qtrs
Origination fees	`OriginationFees`	$112.02K	USD	1 Quarter
Origination fees	`OriginationFees`	$147.62K	USD	1 Quarter
Total Revenue	`Revenues`	$1.82M	USD	2 Qtrs
Total Revenue	`Revenues`	$1.24M	USD	2 Qtrs
Total Revenue	`Revenues`	$630.08K	USD	1 Quarter
Total Revenue	`Revenues`	$911.95K	USD	1 Quarter
Interest and amortization of debt service costs	`InterestAndAmortizationOfDebtServiceCosts`	$333.78K	USD	2 Qtrs
Interest and amortization of debt service costs	`InterestAndAmortizationOfDebtServiceCosts`	$239.33K	USD	2 Qtrs
Interest and amortization of debt service costs	`InterestAndAmortizationOfDebtServiceCosts`	$122.91K	USD	1 Quarter
Interest and amortization of debt service costs	`InterestAndAmortizationOfDebtServiceCosts`	$150.72K	USD	1 Quarter
Referral fees	`ReferralFees`	$384.00	USD	2 Qtrs
Referral fees	`ReferralFees`	$1.11K	USD	1 Quarter
Referral fees	`ReferralFees`	$2.31K	USD	2 Qtrs
Referral fees	`ReferralFees`	$275.00	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$214.68K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$351.81K	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$466.59K	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$175.81K	USD	1 Quarter
Total operating costs and expenses	`OperatingCostsAndExpenses`	$591.52K	USD	2 Qtrs
Total operating costs and expenses	`OperatingCostsAndExpenses`	$366.51K	USD	1 Quarter
Total operating costs and expenses	`OperatingCostsAndExpenses`	$802.68K	USD	2 Qtrs
Total operating costs and expenses	`OperatingCostsAndExpenses`	$298.99K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$647.47K	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$331.09K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.02M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$545.44K	USD	1 Quarter
Other income (Note 4)	`OtherNonoperatingIncome`	-	USD	2 Qtrs
Other income (Note 4)	`OtherNonoperatingIncome`	-	USD	1 Quarter
Other income (Note 4)	`OtherNonoperatingIncome`	$6.89K	USD	1 Quarter
Other income (Note 4)	`OtherNonoperatingIncome`	$13.77K	USD	2 Qtrs
Loss on write-down of investment in privately held company (Note 5)	`CostmethodInvestmentsOtherThanTemporaryImpairment`	$15.00K	USD	1 Quarter
Loss on write-down of investment in privately held company (Note 5)	`CostmethodInvestmentsOtherThanTemporaryImpairment`	-	USD	1 Quarter
Loss on write-down of investment in privately held company (Note 5)	`CostmethodInvestmentsOtherThanTemporaryImpairment`	$15.00K	USD	2 Qtrs
Loss on write-down of investment in privately held company (Note 5)	`CostmethodInvestmentsOtherThanTemporaryImpairment`	-	USD	2 Qtrs
Income before income tax benefit (expense)	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.01M	USD	2 Qtrs
Income before income tax benefit (expense)	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$661.25K	USD	2 Qtrs
Income before income tax benefit (expense)	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$530.44K	USD	1 Quarter
Income before income tax benefit (expense)	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$337.98K	USD	1 Quarter
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$32.00K	USD	2 Qtrs
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$-83.00K	USD	1 Quarter
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Net income	`NetIncomeLoss`	$420.98K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.01M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$530.44K	USD	1 Quarter
Net income	`NetIncomeLoss`	$629.25K	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.10	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.16	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.15	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.08	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.08	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.15	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.10	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.16	USD	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	6.28M	shares	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.27M	shares	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.28M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	6.47M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.32M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	6.51M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.30M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	6.31M	shares	2 Qtrs

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net Income	`NetIncomeLoss`	$420.98K	USD	1 Quarter
Net Income	`NetIncomeLoss`	$1.01M	USD	2 Qtrs
Net Income	`NetIncomeLoss`	$530.44K	USD	1 Quarter
Net Income	`NetIncomeLoss`	$629.25K	USD	2 Qtrs
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	-	USD	2 Qtrs
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$15.46K	USD	2 Qtrs
Depreciation	`Depreciation`	-	USD	2 Qtrs
Depreciation	`Depreciation`	$3.20K	USD	2 Qtrs
Non cash compensation expense	`ShareBasedCompensation`	$6.83K	USD	2 Qtrs
Non cash compensation expense	`ShareBasedCompensation`	$6.83K	USD	2 Qtrs
Loss on write-down of investment in privately held company (Note 5)	`CostmethodInvestmentsOtherThanTemporaryImpairment`	$15.00K	USD	1 Quarter
Loss on write-down of investment in privately held company (Note 5)	`CostmethodInvestmentsOtherThanTemporaryImpairment`	-	USD	1 Quarter
Loss on write-down of investment in privately held company (Note 5)	`CostmethodInvestmentsOtherThanTemporaryImpairment`	$15.00K	USD	2 Qtrs
Loss on write-down of investment in privately held company (Note 5)	`CostmethodInvestmentsOtherThanTemporaryImpairment`	-	USD	2 Qtrs
Interest receivable on loans	`IncreaseDecreaseInAccruedInterestReceivableNet`	$99.89K	USD	2 Qtrs
Interest receivable on loans	`IncreaseDecreaseInAccruedInterestReceivableNet`	$28.76K	USD	2 Qtrs
Other current and non current assets	`IncreaseDecreaseInOtherOperatingAssets`	$40.99K	USD	2 Qtrs
Other current and non current assets	`IncreaseDecreaseInOtherOperatingAssets`	$31.89K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-7.65K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-76.61K	USD	2 Qtrs
Deferred origination fees	`IncreaseDecreaseInDeferredOriginationFees`	$69.33K	USD	2 Qtrs
Deferred origination fees	`IncreaseDecreaseInDeferredOriginationFees`	$-42.87K	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-243.00K	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	-	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$367.65K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$759.71K	USD	2 Qtrs
Issuance of short term loans	`IssuanceOfShortTermLoans`	$9.76M	USD	2 Qtrs
Issuance of short term loans	`IssuanceOfShortTermLoans`	$8.82M	USD	2 Qtrs
Collections received from loans	`ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment`	$6.95M	USD	2 Qtrs
Collections received from loans	`ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment`	$7.54M	USD	2 Qtrs
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$684.00	USD	2 Qtrs
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-2.23M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-1.88M	USD	2 Qtrs
(Repayments of) proceeds from loans and lines of credit, net	`ProceedsFromRepaymentsOfLinesOfCredit`	$-2.08M	USD	2 Qtrs
(Repayments of) proceeds from loans and lines of credit, net	`ProceedsFromRepaymentsOfLinesOfCredit`	$1.25M	USD	2 Qtrs
Deferred financing costs	`PaymentsOfFinancingCosts`	-	USD	2 Qtrs
Deferred financing costs	`PaymentsOfFinancingCosts`	$111.40K	USD	2 Qtrs
Capital raising costs	`PaymentsOfStockIssuanceCosts`	-	USD	2 Qtrs
Capital raising costs	`PaymentsOfStockIssuanceCosts`	$204.43K	USD	2 Qtrs
Proceeds from public offering, net	`ProceedsFromIssuanceOfCommonStock`	-	USD	2 Qtrs
Proceeds from public offering, net	`ProceedsFromIssuanceOfCommonStock`	$4.25M	USD	2 Qtrs
Proceeds from exercise of stock options and warrants	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$55.23K	USD	2 Qtrs
Proceeds from exercise of stock options and warrants	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$24.37K	USD	2 Qtrs
Dividend paid	`PaymentsOfDividends`	$127.97K	USD	2 Qtrs
Dividend paid	`PaymentsOfDividends`	$973.82K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$972.84K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$1.11M	USD	2 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-885.53K	USD	2 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.31K	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.02M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$135.50K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$45.36K	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`	$135.50K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$45.36K	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	2 Qtrs
Taxes paid during the period	`IncomeTaxesPaid`	$275.00K	USD	2 Qtrs
Interest paid during the period	`InterestPaid`	$318.32K	USD	2 Qtrs
Interest paid during the period	`InterestPaid`	$239.33K	USD	2 Qtrs

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