10-Q Filing

MANHATTAN BRIDGE CAPITAL, INC CIK: 1080340 Q2 2016

Filing Information

Form Type	10-Q
Accession Number	`0001144204-16-114807`
Period End Date	20160630
Filing Date	20160728
Fiscal Year	2016
Fiscal Period	Q2
XBRL Instance	loan-20160630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 81 Income Statement 64 Cash Flow Statement 66

Balance Sheet 81 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`	$45.36K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$127.50K	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
Cash - restricted	`RestrictedCashAndCashEquivalents`	-	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash - restricted	`RestrictedCashAndCashEquivalents`	$1.41M	USD	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
Short term loans receivable	`ShortTermLoansReceivable`	$23.29M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	7.47M	shares	Point-in-time
Interest receivable on loans	`InterestReceivableCurrent`	$300.37K	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
Other current assets	`OtherAssetsCurrent`	$32.87K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	7.29M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$59.59K	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`	$25.19M	USD	Point-in-time
Debt Issuance Costs, Net	`DeferredFinanceCostsNet`	$721.47K	USD	Point-in-time
Long term loans receivable	`LongTermLoansReceivable`	$10.71M	USD	Point-in-time
Long term loans receivable	`LongTermLoansReceivable`	$8.84M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$8.49K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$8.77K	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`	$40.00K	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
Investment in privately held company	`CostMethodInvestments`	$65.00K	USD	Point-in-time
Deferred financing costs	`DeferredFinanceCostsNoncurrentNet`	$80.28K	USD	Point-in-time
Deferred financing costs	`DeferredFinanceCostsNoncurrentNet`	$164.51K	USD	Point-in-time
Total assets	`Assets`	$34.17M	USD	Point-in-time
Total assets	`Assets`	$31.66M	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$9.47M	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$11.82M	USD	Point-in-time
Short term loans	`ShortTermBorrowings`	$860.62K	USD	Point-in-time
Short term loans	`ShortTermBorrowings`	-	USD	Point-in-time
Short term loans	`ShortTermBorrowings`	-	USD	Point-in-time
Short term loans	`ShortTermBorrowings`	$1.10M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$99.64K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$89.59K	USD	Point-in-time
Deferred origination fees	`DeferredOriginationFees`	$311.41K	USD	Point-in-time
Deferred origination fees	`DeferredOriginationFees`	$279.68K	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$617.44K	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	-	USD	Point-in-time
Due to joint venture partners	`DueToJointVenturePartners`	$378.88K	USD	Point-in-time
Due to joint venture partners	`DueToJointVenturePartners`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$13.91M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$10.25M	USD	Point-in-time
Senior secured note (net of deferred financing costs of $721,466)	`SecuredLongTermDebt`	$5.28M	USD	Point-in-time
Senior secured note (net of deferred financing costs of $721,466)	`SecuredLongTermDebt`	-	USD	Point-in-time
Total liabilities	`Liabilities`	$13.91M	USD	Point-in-time
Total liabilities	`Liabilities`	$15.53M	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; 7,469,239 and 7,441,039 issued; 7,292,239 and 7,264,039 outstanding	`CommonStockValue`	$7.44K	USD	Point-in-time
Common shares - $.001 par value; 25,000,000 authorized; 7,469,239 and 7,441,039 issued; 7,292,239 and 7,264,039 outstanding	`CommonStockValue`	$7.47K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$18.50M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$18.61M	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`	$391.62K	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`	$18.64M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$31.66M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$34.17M	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Interest income from loans	`InterestIncomeFromLoans`	$973.93K	USD	1 Quarter
Interest income from loans	`InterestIncomeFromLoans`	$1.89M	USD	2 Qtrs
Interest income from loans	`InterestIncomeFromLoans`	$1.52M	USD	2 Qtrs
Interest income from loans	`InterestIncomeFromLoans`	$764.33K	USD	1 Quarter
Origination fees	`OriginationFees`	$382.24K	USD	2 Qtrs
Origination fees	`OriginationFees`	$191.96K	USD	1 Quarter
Origination fees	`OriginationFees`	$302.64K	USD	2 Qtrs
Origination fees	`OriginationFees`	$147.62K	USD	1 Quarter
Total Revenue	`Revenues`	$1.82M	USD	2 Qtrs
Total Revenue	`Revenues`	$2.27M	USD	2 Qtrs
Total Revenue	`Revenues`	$1.17M	USD	1 Quarter
Total Revenue	`Revenues`	$911.95K	USD	1 Quarter
Interest and amortization of debt service costs	`InterestAndAmortizationOfDebtServiceCosts`	$388.30K	USD	2 Qtrs
Interest and amortization of debt service costs	`InterestAndAmortizationOfDebtServiceCosts`	$333.78K	USD	2 Qtrs
Interest and amortization of debt service costs	`InterestAndAmortizationOfDebtServiceCosts`	$150.72K	USD	1 Quarter
Interest and amortization of debt service costs	`InterestAndAmortizationOfDebtServiceCosts`	$208.75K	USD	1 Quarter
Referral fees	`ReferralFees`	$2.31K	USD	2 Qtrs
Referral fees	`ReferralFees`	$1.89K	USD	1 Quarter
Referral fees	`ReferralFees`	$1.11K	USD	1 Quarter
Referral fees	`ReferralFees`	$3.26K	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$466.59K	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$233.54K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$214.68K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$461.38K	USD	2 Qtrs
Total operating costs and expenses	`OperatingCostsAndExpenses`	$366.51K	USD	1 Quarter
Total operating costs and expenses	`OperatingCostsAndExpenses`	$852.95K	USD	2 Qtrs
Total operating costs and expenses	`OperatingCostsAndExpenses`	$444.19K	USD	1 Quarter
Total operating costs and expenses	`OperatingCostsAndExpenses`	$802.68K	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$1.02M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$721.70K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$545.44K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.42M	USD	2 Qtrs
Loss on write-down of investment in privately held company (Note 5)	`CostmethodInvestmentsOtherThanTemporaryImpairment`	$10.00K	USD	1 Quarter
Loss on write-down of investment in privately held company (Note 5)	`CostmethodInvestmentsOtherThanTemporaryImpairment`	$10.00K	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`	$15.00K	USD	2 Qtrs
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.01M	USD	2 Qtrs
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.41M	USD	2 Qtrs
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$711.70K	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$530.44K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$1.64K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$2.15K	USD	2 Qtrs
Net income	`NetIncomeLoss`	$530.44K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.01M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$710.07K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.41M	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.16	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.08	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.19	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.10	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
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.16	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.19	USD	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	6.28M	shares	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	6.47M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.28M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.27M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	6.51M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	6.31M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.30M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.31M	shares	1 Quarter

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net Income	`NetIncomeLoss`	$530.44K	USD	1 Quarter
Net Income	`NetIncomeLoss`	$1.01M	USD	2 Qtrs
Net Income	`NetIncomeLoss`	$710.07K	USD	1 Quarter
Net Income	`NetIncomeLoss`	$1.41M	USD	2 Qtrs
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$15.46K	USD	2 Qtrs
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$39.43K	USD	2 Qtrs
Depreciation	`Depreciation`	$3.20K	USD	2 Qtrs
Depreciation	`Depreciation`	$1.78K	USD	2 Qtrs
Share-based Compensation Expense	`ShareBasedCompensation`	$3.40K	USD	1 Quarter
Share-based Compensation Expense	`ShareBasedCompensation`	$6.83K	USD	2 Qtrs
Share-based Compensation Expense	`ShareBasedCompensation`	$6.79K	USD	2 Qtrs
Share-based Compensation Expense	`ShareBasedCompensation`	$3.42K	USD	1 Quarter
Loss on write-down of investment in privately held company (Note 5)	`CostmethodInvestmentsOtherThanTemporaryImpairment`	$10.00K	USD	1 Quarter
Loss on write-down of investment in privately held company (Note 5)	`CostmethodInvestmentsOtherThanTemporaryImpairment`	$10.00K	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`	$15.00K	USD	2 Qtrs
Interest receivable on loans	`IncreaseDecreaseInAccruedInterestReceivableNet`	$-82.21K	USD	2 Qtrs
Interest receivable on loans	`IncreaseDecreaseInAccruedInterestReceivableNet`	$99.89K	USD	2 Qtrs
Other current and non current assets	`IncreaseDecreaseInOtherOperatingAssets`	$26.73K	USD	2 Qtrs
Other current and non current assets	`IncreaseDecreaseInOtherOperatingAssets`	$40.99K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-76.61K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-10.06K	USD	2 Qtrs
Deferred origination fees	`IncreaseDecreaseInDeferredOriginationFees`	$-31.73K	USD	2 Qtrs
Deferred origination fees	`IncreaseDecreaseInDeferredOriginationFees`	$69.33K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$759.71K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$1.54M	USD	2 Qtrs
Issuance of short term loans	`IssuanceOfShortTermLoans`	$8.82M	USD	2 Qtrs
Issuance of short term loans	`IssuanceOfShortTermLoans`	$14.87M	USD	2 Qtrs
Collections received from loans	`ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment`	$6.95M	USD	2 Qtrs
Collections received from loans	`ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment`	$13.64M	USD	2 Qtrs
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$684.00	USD	2 Qtrs
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.50K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-1.23M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-1.88M	USD	2 Qtrs
Repayments of lines of credit, net	`ProceedsFromRepaymentsOfLinesOfCredit`	$-706.39K	USD	2 Qtrs
Repayments of lines of credit, net	`ProceedsFromRepaymentsOfLinesOfCredit`	$-2.35M	USD	2 Qtrs
Repayments of short-term loans, net	`RepaymentsOfDebt`	$1.37M	USD	2 Qtrs
Repayments of short-term loans, net	`RepaymentsOfDebt`	$1.10M	USD	2 Qtrs
Cash restricted for reduction of line of credit	`CashRestrictedForReductionOfLineOfCredit`	$1.41M	USD	2 Qtrs
Cash restricted for reduction of line of credit	`CashRestrictedForReductionOfLineOfCredit`	-	USD	2 Qtrs
Amount collected payable to joint venture partners	`ProceedsFromCollectedPayableToJointVenturePartners`	$378.88K	USD	2 Qtrs
Amount collected payable to joint venture partners	`ProceedsFromCollectedPayableToJointVenturePartners`	-	USD	2 Qtrs
Deferred financing costs	`PaymentsOfFinancingCosts`	-	USD	2 Qtrs
Deferred financing costs	`PaymentsOfFinancingCosts`	$111.40K	USD	2 Qtrs
Proceeds from public offering, net	`ProceedsFromPublicOffering`	$4.25M	USD	2 Qtrs
Proceeds from public offering, net	`ProceedsFromPublicOffering`	$5.32M	USD	2 Qtrs
Proceeds from exercise of stock options and warrants	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$100.46K	USD	2 Qtrs
Proceeds from exercise of stock options and warrants	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$24.37K	USD	2 Qtrs
Dividend paid	`PaymentsOfDividends`	$973.82K	USD	2 Qtrs
Dividend paid	`PaymentsOfDividends`	$1.24M	USD	2 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-288.55K	USD	2 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$1.11M	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$20.66K	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.31K	USD	2 Qtrs
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$106.84K	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$45.36K	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$127.50K	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$47.68K	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`	$45.36K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$127.50K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$47.68K	USD	Point-in-time
Taxes paid during the period	`IncomeTaxesPaid`	$1.95K	USD	2 Qtrs
Taxes paid during the period	`IncomeTaxesPaid`	-	USD	2 Qtrs
Interest paid during the period	`InterestPaid`	$348.44K	USD	2 Qtrs
Interest paid during the period	`InterestPaid`	$318.32K	USD	2 Qtrs

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