10-Q Filing

MANHATTAN BRIDGE CAPITAL, INC CIK: 1080340 Q3 2016

Filing Information

Form Type	10-Q
Accession Number	`0001493152-16-014271`
Period End Date	20160930
Filing Date	20161026
Fiscal Year	2016
Fiscal Period	Q3
XBRL Instance	loan-20160930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 64 Cash Flow Statement 63

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Debt Issuance Costs, Net (deferred financing costs)	`DeferredFinanceCostsNet`	$716.44K	USD	Point-in-time
Debt Issuance Costs, Net (deferred financing costs)	`DeferredFinanceCostsNet`	-	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$158.52K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$47.68K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$61.14K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$106.84K	USD	Point-in-time
Cash - restricted	`RestrictedCashAndCashEquivalents`	-	USD	Point-in-time
Cash - restricted	`RestrictedCashAndCashEquivalents`	$919.35K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Short term loans receivable	`NotesAndLoansReceivableGrossCurrent`	$23.31M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Short term loans receivable	`NotesAndLoansReceivableGrossCurrent`	$20.20M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	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`	$304.34K	USD	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
Other current assets	`OtherAssetsCurrent`	$32.87K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$49.67K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.29M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$24.75M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$20.72M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.11M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	7.26M	shares	Point-in-time
Long term loans receivable	`NotesAndLoansReceivableGrossNoncurrent`	$10.71M	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	`NotesAndLoansReceivableGrossNoncurrent`	$8.22M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$9.04K	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`	$50.00K	USD	Point-in-time
Investment in privately held company	`CostMethodInvestments`	$40.00K	USD	Point-in-time
Deferred financing costs	`DeferredFinanceCostsNoncurrentNet`	$164.51K	USD	Point-in-time
Deferred financing costs	`DeferredFinanceCostsNoncurrentNet`	$68.23K	USD	Point-in-time
Total assets	`Assets`	$33.09M	USD	Point-in-time
Total assets	`Assets`	$31.66M	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$11.82M	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$4.26M	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`	$71.94K	USD	Point-in-time
Deferred origination fees	`DeferredOriginationFees`	$279.68K	USD	Point-in-time
Deferred origination fees	`DeferredOriginationFees`	$344.56K	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	-	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$617.44K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$13.91M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.68M	USD	Point-in-time
Senior secured note (net of deferred financing costs of $716,441)	`SecuredLongTermDebt`	$5.28M	USD	Point-in-time
Senior secured note (net of deferred financing costs of $716,441)	`SecuredLongTermDebt`	-	USD	Point-in-time
Total liabilities	`Liabilities`	$13.91M	USD	Point-in-time
Total liabilities	`Liabilities`	$9.96M	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; 8,290,749 and 7,441,039 issued; 8,113,749 and 7,264,039 outstanding	`CommonStockValue`	$7.44K	USD	Point-in-time
Common shares - $.001 par value; 25,000,000 authorized; 8,290,749 and 7,441,039 issued; 8,113,749 and 7,264,039 outstanding	`CommonStockValue`	$8.29K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$18.50M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$23.03M	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`	$459.86K	USD	Point-in-time
Retained earnings (Accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$-395.71K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$23.12M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$17.74M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$33.09M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$31.66M	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Interest income from loans	`InterestIncomeFromLoans`	$2.85M	USD	3 Qtrs
Interest income from loans	`InterestIncomeFromLoans`	$871.25K	USD	1 Quarter
Interest income from loans	`InterestIncomeFromLoans`	$960.27K	USD	1 Quarter
Interest income from loans	`InterestIncomeFromLoans`	$2.39M	USD	3 Qtrs
Origination fees	`OriginationFees`	$591.19K	USD	3 Qtrs
Origination fees	`OriginationFees`	$208.95K	USD	1 Quarter
Origination fees	`OriginationFees`	$463.09K	USD	3 Qtrs
Origination fees	`OriginationFees`	$160.46K	USD	1 Quarter
Total revenue	`Revenues`	$3.44M	USD	3 Qtrs
Total revenue	`Revenues`	$2.86M	USD	3 Qtrs
Total revenue	`Revenues`	$1.03M	USD	1 Quarter
Total revenue	`Revenues`	$1.17M	USD	1 Quarter
Interest and amortization of debt service costs	`InterestAndAmortizationOfDebtServiceCosts`	$159.88K	USD	1 Quarter
Interest and amortization of debt service costs	`InterestAndAmortizationOfDebtServiceCosts`	$205.45K	USD	1 Quarter
Interest and amortization of debt service costs	`InterestAndAmortizationOfDebtServiceCosts`	$593.75K	USD	3 Qtrs
Interest and amortization of debt service costs	`InterestAndAmortizationOfDebtServiceCosts`	$493.65K	USD	3 Qtrs
Referral fees	`ReferralFees`	$948.00	USD	1 Quarter
Referral fees	`ReferralFees`	$3.26K	USD	3 Qtrs
Referral fees	`ReferralFees`	$2.26K	USD	1 Quarter
Referral fees	`ReferralFees`	$5.53K	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$236.97K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$698.36K	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$229.87K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$696.46K	USD	3 Qtrs
Total operating costs and expenses	`OperatingCostsAndExpenses`	$1.30M	USD	3 Qtrs
Total operating costs and expenses	`OperatingCostsAndExpenses`	$444.68K	USD	1 Quarter
Total operating costs and expenses	`OperatingCostsAndExpenses`	$390.70K	USD	1 Quarter
Total operating costs and expenses	`OperatingCostsAndExpenses`	$1.19M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$2.14M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$641.01K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.66M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$724.54K	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`	$10.00K	USD	3 Qtrs
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	3 Qtrs
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$724.54K	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.13M	USD	3 Qtrs
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.65M	USD	3 Qtrs
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$641.01K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$2.00K	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$2.15K	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$2.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.13M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$639.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.65M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$724.54K	USD	1 Quarter
-Basic	`EarningsPerShareBasic`	$0.10	USD	1 Quarter
-Basic	`EarningsPerShareBasic`	$0.25	USD	3 Qtrs
-Basic	`EarningsPerShareBasic`	$0.09	USD	1 Quarter
-Basic	`EarningsPerShareBasic`	$0.29	USD	3 Qtrs
-Diluted	`EarningsPerShareDiluted`	$0.25	USD	3 Qtrs
-Diluted	`EarningsPerShareDiluted`	$0.29	USD	3 Qtrs
-Diluted	`EarningsPerShareDiluted`	$0.10	USD	1 Quarter
-Diluted	`EarningsPerShareDiluted`	$0.09	USD	1 Quarter
-Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	7.41M	shares	3 Qtrs
-Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	6.60M	shares	3 Qtrs
-Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	7.60M	shares	1 Quarter
-Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	7.22M	shares	1 Quarter
-Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.26M	shares	1 Quarter
-Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.43M	shares	3 Qtrs
-Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.62M	shares	1 Quarter
-Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	6.64M	shares	3 Qtrs

Cash Flow Statement 63 line items

Line Item	Tag	Value	Unit	Period
Net Income	`NetIncomeLoss`	$2.13M	USD	3 Qtrs
Net Income	`NetIncomeLoss`	$639.00K	USD	1 Quarter
Net Income	`NetIncomeLoss`	$1.65M	USD	3 Qtrs
Net Income	`NetIncomeLoss`	$724.54K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$51.47K	USD	3 Qtrs
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$27.50K	USD	3 Qtrs
Depreciation	`Depreciation`	$2.75K	USD	3 Qtrs
Depreciation	`Depreciation`	$4.93K	USD	3 Qtrs
Non cash compensation expense	`ShareBasedCompensation`	$10.25K	USD	3 Qtrs
Non cash compensation expense	`ShareBasedCompensation`	$3.40K	USD	1 Quarter
Non cash compensation expense	`ShareBasedCompensation`	$3.42K	USD	1 Quarter
Non cash compensation expense	`ShareBasedCompensation`	$10.19K	USD	3 Qtrs
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`	$10.00K	USD	3 Qtrs
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	3 Qtrs
Interest receivable on loans	`IncreaseDecreaseInAccruedInterestReceivableNet`	$-78.23K	USD	3 Qtrs
Interest receivable on loans	`IncreaseDecreaseInAccruedInterestReceivableNet`	$108.81K	USD	3 Qtrs
Other current and non current assets	`IncreaseDecreaseInOtherOperatingAssets`	$16.81K	USD	3 Qtrs
Other current and non current assets	`IncreaseDecreaseInOtherOperatingAssets`	$27.38K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-27.70K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-74.03K	USD	3 Qtrs
Deferred origination fees	`IncreaseDecreaseInDeferredOriginationFees`	$-64.88K	USD	3 Qtrs
Deferred origination fees	`IncreaseDecreaseInDeferredOriginationFees`	$-4.36K	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.30M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.50M	USD	3 Qtrs
Issuance of short term loans	`IssuanceOfShortTermLoans`	$15.35M	USD	3 Qtrs
Issuance of short term loans	`IssuanceOfShortTermLoans`	$24.30M	USD	3 Qtrs
Collections received from loans	`ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment`	$10.23M	USD	3 Qtrs
Collections received from loans	`ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment`	$23.67M	USD	3 Qtrs
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.02K	USD	3 Qtrs
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.47K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.12M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-630.80K	USD	3 Qtrs
(Repayments of) Proceeds from loans and line of credit, net	`ProceedsFromRepaymentsOfLinesOfCredit`	$1.02M	USD	3 Qtrs
(Repayments of) Proceeds from loans and line of credit, net	`ProceedsFromRepaymentsOfLinesOfCredit`	$-8.65M	USD	3 Qtrs
Cash restricted for reduction of line of credit	`CashRestrictedForReductionOfLineOfCredit`	$919.35K	USD	3 Qtrs
Cash restricted for reduction of line of credit	`CashRestrictedForReductionOfLineOfCredit`	-	USD	3 Qtrs
Proceeds from public offerings, net	`ProceedsFromIssuanceInitialPublicOffering`	$4.24M	USD	3 Qtrs
Proceeds from public offerings, net	`ProceedsFromIssuanceInitialPublicOffering`	$9.54M	USD	3 Qtrs
Proceeds from public offerings, net	`ProceedsFromIssuanceInitialPublicOffering`	$5.20M	USD	Point-in-time
Deferred financing costs	`PaymentsOfFinancingCosts`	$111.40K	USD	3 Qtrs
Deferred financing costs	`PaymentsOfFinancingCosts`	-	USD	3 Qtrs
Proceeds from exercise of stock options and warrants	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$32.84K	USD	3 Qtrs
Proceeds from exercise of stock options and warrants	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$305.00K	USD	3 Qtrs
Dividends paid	`PaymentsOfDividends`	$1.89M	USD	3 Qtrs
Dividends paid	`PaymentsOfDividends`	$1.55M	USD	3 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.63M	USD	3 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.62M	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$51.68K	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$13.47K	USD	3 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$158.52K	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`	$61.14K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$106.84K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$158.52K	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`	$61.14K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$106.84K	USD	Point-in-time
Taxes paid during the period	`IncomeTaxesPaidNet`	$29.00	USD	3 Qtrs
Taxes paid during the period	`IncomeTaxesPaidNet`	$1.95K	USD	3 Qtrs
Interest paid during the period	`InterestPaid`	$546.01K	USD	3 Qtrs
Interest paid during the period	`InterestPaid`	$423.65K	USD	3 Qtrs

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