10-Q Filing

MANHATTAN BRIDGE CAPITAL, INC CIK: 1080340 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001144204-16-098115`
Period End Date	20160331
Filing Date	20160502
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	loan-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 28 Cash Flow Statement 57

Balance Sheet 70 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
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$106.84K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$47.68K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$61.28K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$256.28K	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
Cash - restricted	`RestrictedCashAndCashEquivalents`	$464.89K	USD	Point-in-time
Cash - restricted	`RestrictedCashAndCashEquivalents`	-	USD	Point-in-time
Short term loans receivable	`ShortTermLoansReceivable`	$19.42M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Short term loans receivable	`ShortTermLoansReceivable`	$20.20M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Interest receivable on loans	`InterestReceivableCurrent`	$364.81K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	7.44M	shares	Point-in-time
Interest receivable on loans	`InterestReceivableCurrent`	$382.57K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	7.44M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	7.26M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$48.93K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$32.87K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	7.26M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$20.72M	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
Total current assets	`AssetsCurrent`	$20.36M	USD	Point-in-time
Long term loans receivable	`LongTermLoansReceivable`	$9.59M	USD	Point-in-time
Long term loans receivable	`LongTermLoansReceivable`	$10.71M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$8.77K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$8.95K	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`	$50.00K	USD	Point-in-time
Deferred financing costs	`DeferredFinanceCostsNoncurrentNet`	$164.51K	USD	Point-in-time
Deferred financing costs	`DeferredFinanceCostsNoncurrentNet`	$315.58K	USD	Point-in-time
Total assets	`Assets`	$31.66M	USD	Point-in-time
Total assets	`Assets`	$30.33M	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$11.82M	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$10.65M	USD	Point-in-time
Short term loans	`ShortTermBorrowings`	$1.10M	USD	Point-in-time
Short term loans	`ShortTermBorrowings`	$860.62K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$99.64K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$127.78K	USD	Point-in-time
Deferred origination fees	`DeferredOriginationFees`	$279.68K	USD	Point-in-time
Deferred origination fees	`DeferredOriginationFees`	$249.26K	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$617.44K	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	-	USD	Point-in-time
Total liabilities, all current	`LiabilitiesCurrent`	$13.91M	USD	Point-in-time
Total liabilities, all current	`LiabilitiesCurrent`	$11.89M	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; 7,441,039 issued; 7,264,039 outstanding	`CommonStockValue`	$7.44K	USD	Point-in-time
Common shares - $.001 par value; 25,000,000 authorized; 7,441,039 issued; 7,264,039 outstanding	`CommonStockValue`	$7.44K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$18.50M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$18.50M	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 (Accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$299.62K	USD	Point-in-time
Retained earnings (Accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$-395.71K	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$17.74M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$18.44M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$31.66M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$30.33M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Interest income from loans	`InterestIncomeFromLoans`	$914.31K	USD	1 Quarter
Interest income from loans	`InterestIncomeFromLoans`	$756.75K	USD	1 Quarter
Origination fees	`OriginationFees`	$190.28K	USD	1 Quarter
Origination fees	`OriginationFees`	$155.01K	USD	1 Quarter
Total revenue	`Revenues`	$1.10M	USD	1 Quarter
Total revenue	`Revenues`	$911.76K	USD	1 Quarter
Interest and amortization of debt service costs	`InterestAndAmortizationOfDebtServiceCosts`	$179.55K	USD	1 Quarter
Interest and amortization of debt service costs	`InterestAndAmortizationOfDebtServiceCosts`	$183.06K	USD	1 Quarter
Referral fees	`ReferralFees`	$1.37K	USD	1 Quarter
Referral fees	`ReferralFees`	$1.20K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$251.91K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$227.84K	USD	1 Quarter
Total operating costs and expenses	`OperatingCostsAndExpenses`	$436.17K	USD	1 Quarter
Total operating costs and expenses	`OperatingCostsAndExpenses`	$408.76K	USD	1 Quarter
Income from operations before income tax expense	`OperatingIncomeLoss`	$695.83K	USD	1 Quarter
Income from operations before income tax expense	`OperatingIncomeLoss`	$475.60K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$508.00	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net income	`NetIncomeLoss`	$475.60K	USD	1 Quarter
Net income	`NetIncomeLoss`	$695.32K	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.10	USD	1 Quarter
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`	$0.10	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	6.09M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.26M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	6.13M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.29M	shares	1 Quarter

Cash Flow Statement 57 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$475.60K	USD	1 Quarter
Net income	`NetIncomeLoss`	$695.32K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$3.42K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$12.04K	USD	1 Quarter
Depreciation	`Depreciation`	$862.00	USD	1 Quarter
Depreciation	`Depreciation`	$1.59K	USD	1 Quarter
Non cash compensation expense	`ShareBasedCompensation`	$3.40K	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`	$-17.76K	USD	1 Quarter
Other current and non current assets	`IncreaseDecreaseInOtherOperatingAssets`	$25.31K	USD	1 Quarter
Other current and non current assets	`IncreaseDecreaseInOtherOperatingAssets`	$16.06K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$28.14K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-97.56K	USD	1 Quarter
Deferred origination fees	`IncreaseDecreaseInDeferredOriginationFees`	$30.42K	USD	1 Quarter
Deferred origination fees	`IncreaseDecreaseInDeferredOriginationFees`	$78.24K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$711.04K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$277.38K	USD	1 Quarter
Issuance of short term loans	`IssuanceOfShortTermLoans`	$5.91M	USD	1 Quarter
Issuance of short term loans	`IssuanceOfShortTermLoans`	$2.81M	USD	1 Quarter
Collections received from loans	`ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment`	$7.81M	USD	1 Quarter
Collections received from loans	`ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment`	$3.08M	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.04K	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$271.52K	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$1.89M	USD	1 Quarter
(Repayment of) proceeds from lines of credit, net	`ProceedsFromRepaymentsOfLinesOfCredit`	$1.62M	USD	1 Quarter
(Repayment of) proceeds from lines of credit, net	`ProceedsFromRepaymentsOfLinesOfCredit`	$-1.41M	USD	1 Quarter
Cash restricted for reduction of line of credit	`CashRestrictedForReductionOfLineOfCredit`	-	USD	1 Quarter
Cash restricted for reduction of line of credit	`CashRestrictedForReductionOfLineOfCredit`	$464.89K	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
Repayments of short-term loans, net	`RepaymentsOfDebt`	$1.00M	USD	Point-in-time
Deferred financing costs	`PaymentsOfFinancingCosts`	$163.11K	USD	1 Quarter
Deferred financing costs	`PaymentsOfFinancingCosts`	$90.56K	USD	1 Quarter
Dividend paid	`PaymentsOfDividends`	$486.69K	USD	1 Quarter
Dividend paid	`PaymentsOfDividends`	$617.44K	USD	1 Quarter
Capital raising costs	`PaymentsOfStockIssuanceCosts`	-	USD	1 Quarter
Capital raising costs	`PaymentsOfStockIssuanceCosts`	$12.50K	USD	1 Quarter
Proceeds from exercise of stock options and warrants	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	-	USD	1 Quarter
Proceeds from exercise of stock options and warrants	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$7.26K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-340.29K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-2.65M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-45.56K	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$208.61K	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$106.84K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$47.68K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$61.28K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$256.28K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$106.84K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$47.68K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$61.28K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$256.28K	USD	Point-in-time
Taxes paid during the period	`IncomeTaxesPaid`	-	USD	1 Quarter
Taxes paid during the period	`IncomeTaxesPaid`	$508.00	USD	1 Quarter
Interest paid during the period	`InterestPaid`	$176.80K	USD	1 Quarter
Interest paid during the period	`InterestPaid`	$179.64K	USD	1 Quarter

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