10-Q Filing

MANHATTAN BRIDGE CAPITAL, INC CIK: 1080340 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001493152-17-004345`
Period End Date	20170331
Filing Date	20170425
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	loan-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 28 Cash Flow Statement 52

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Debt Issuance Costs, Net (deferred financing costs)	`DeferredFinanceCostsNet`	$678.90K	USD	Point-in-time
Debt Issuance Costs, Net (deferred financing costs)	`DeferredFinanceCostsNet`	$697.67K	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
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$96.30K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$61.28K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$106.84K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$120.66K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash - restricted	`RestrictedCashAndCashEquivalents`	$202.06K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Cash - restricted	`RestrictedCashAndCashEquivalents`	-	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Short term loans receivable	`NotesAndLoansReceivableGrossCurrent`	$26.70M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Short term loans receivable	`NotesAndLoansReceivableGrossCurrent`	$27.50M	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`	$346.52K	USD	Point-in-time
Interest receivable on loans	`InterestReceivableCurrent`	$385.17K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.31M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.31M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$29.40K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$49.99K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$27.97M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.14M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$27.46M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.14M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	177,000.00	shares	Point-in-time
Long term loans receivable	`NotesAndLoansReceivableGrossNoncurrent`	$7.26M	USD	Point-in-time
Long term loans receivable	`NotesAndLoansReceivableGrossNoncurrent`	$8.50M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	177,000.00	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$7.98K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$6.92K	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`	$35.00K	USD	Point-in-time
Investment in privately held company	`CostMethodInvestments`	$35.00K	USD	Point-in-time
Deferred financing costs	`DeferredFinanceCostsNoncurrentNet`	$44.15K	USD	Point-in-time
Deferred financing costs	`DeferredFinanceCostsNoncurrentNet`	$56.19K	USD	Point-in-time
Total assets	`Assets`	$35.33M	USD	Point-in-time
Total assets	`Assets`	$36.06M	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$7.22M	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$6.48M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$82.61K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$105.54K	USD	Point-in-time
Deferred origination fees	`DeferredOriginationFees`	$315.41K	USD	Point-in-time
Deferred origination fees	`DeferredOriginationFees`	$326.02K	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$813.50K	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.63M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.72M	USD	Point-in-time
Senior secured notes (net of deferred financing costs of $678,898 and $697,669, respectively)	`SecuredLongTermDebt`	$5.32M	USD	Point-in-time
Senior secured notes (net of deferred financing costs of $678,898 and $697,669, respectively)	`SecuredLongTermDebt`	$5.30M	USD	Point-in-time
Total liabilities	`Liabilities`	$13.02M	USD	Point-in-time
Total liabilities	`Liabilities`	$12.95M	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; 8,312,036 issued; 8,135,036 outstanding	`CommonStockValue`	$8.31K	USD	Point-in-time
Common shares - $.001 par value; 25,000,000 authorized; 8,312,036 issued; 8,135,036 outstanding	`CommonStockValue`	$8.31K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$23.13M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$23.14M	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`	$-459.10K	USD	Point-in-time
Retained earnings (Accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$332.05K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$22.31M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$23.11M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$36.06M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$35.33M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Interest income from loans	`InterestIncomeFromLoans`	$1.11M	USD	1 Quarter
Interest income from loans	`InterestIncomeFromLoans`	$914.31K	USD	1 Quarter
Origination fees	`OriginationFees`	$223.43K	USD	1 Quarter
Origination fees	`OriginationFees`	$190.28K	USD	1 Quarter
Total revenue	`Revenues`	$1.33M	USD	1 Quarter
Total revenue	`Revenues`	$1.10M	USD	1 Quarter
Interest and amortization of deferred financing costs	`InterestAndAmortizationOfDebtServiceCosts`	$231.58K	USD	1 Quarter
Interest and amortization of deferred financing costs	`InterestAndAmortizationOfDebtServiceCosts`	$179.55K	USD	1 Quarter
Referral fees	`ReferralFees`	$1.36K	USD	1 Quarter
Referral fees	`ReferralFees`	$1.37K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$305.51K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$227.84K	USD	1 Quarter
Total operating costs and expenses	`OperatingCostsAndExpenses`	$408.76K	USD	1 Quarter
Total operating costs and expenses	`OperatingCostsAndExpenses`	$538.46K	USD	1 Quarter
Income from operations before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$695.83K	USD	1 Quarter
Income from operations before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$791.15K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$508.00	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net income	`NetIncomeLoss`	$791.15K	USD	1 Quarter
Net income	`NetIncomeLoss`	$695.32K	USD	1 Quarter
-Basic	`EarningsPerShareBasic`	$0.10	USD	1 Quarter
-Basic	`EarningsPerShareBasic`	$0.10	USD	1 Quarter
-Diluted	`EarningsPerShareDiluted`	$0.10	USD	1 Quarter
-Diluted	`EarningsPerShareDiluted`	$0.10	USD	1 Quarter
-Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	7.26M	shares	1 Quarter
-Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	8.14M	shares	1 Quarter
-Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.16M	shares	1 Quarter
-Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.29M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net Income	`NetIncomeLoss`	$791.15K	USD	1 Quarter
Net Income	`NetIncomeLoss`	$695.32K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$30.81K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$12.04K	USD	1 Quarter
Depreciation	`Depreciation`	$1.06K	USD	1 Quarter
Depreciation	`Depreciation`	$862.00	USD	1 Quarter
Non cash compensation expense	`ShareBasedCompensation`	$3.27K	USD	1 Quarter
Non cash compensation expense	`ShareBasedCompensation`	$3.40K	USD	1 Quarter
Interest receivable on loans	`IncreaseDecreaseInAccruedInterestReceivableNet`	$38.65K	USD	1 Quarter
Interest receivable on loans	`IncreaseDecreaseInAccruedInterestReceivableNet`	$-17.76K	USD	1 Quarter
Other current and non current assets	`IncreaseDecreaseInOtherOperatingAssets`	$20.59K	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`	$-22.93K	USD	1 Quarter
Deferred origination fees	`IncreaseDecreaseInDeferredOriginationFees`	$30.42K	USD	1 Quarter
Deferred origination fees	`IncreaseDecreaseInDeferredOriginationFees`	$-10.61K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$711.04K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$754.73K	USD	1 Quarter
Issuance of short term loans	`IssuanceOfShortTermLoans`	$5.91M	USD	1 Quarter
Issuance of short term loans	`IssuanceOfShortTermLoans`	$9.56M	USD	1 Quarter
Collections received from loans	`ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment`	$9.11M	USD	1 Quarter
Collections received from loans	`ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment`	$7.81M	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.04K	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-449.00K	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$1.89M	USD	1 Quarter
Proceeds from (repayment of) line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$734.20K	USD	1 Quarter
Proceeds from (repayment of) line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$-1.17M	USD	1 Quarter
Cash restricted for reduction of line of credit	`CashRestrictedForReductionOfLineOfCredit`	$202.06K	USD	1 Quarter
Cash restricted for reduction of line of credit	`CashRestrictedForReductionOfLineOfCredit`	$464.89K	USD	1 Quarter
Repayment of short-term loan	`RepaymentsOfShortTermDebt`	-	USD	1 Quarter
Repayment of short-term loan	`RepaymentsOfShortTermDebt`	$235.00K	USD	1 Quarter
Deferred financing costs	`PaymentsOfFinancingCosts`	$163.11K	USD	1 Quarter
Deferred financing costs	`PaymentsOfFinancingCosts`	-	USD	1 Quarter
Dividend paid	`PaymentsOfDividends`	$813.50K	USD	1 Quarter
Dividend paid	`PaymentsOfDividends`	$617.44K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-281.37K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.65M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-45.56K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$24.36K	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$96.30K	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`	$106.84K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$120.66K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$96.30K	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`	$106.84K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$120.66K	USD	Point-in-time
Taxes paid during the period	`IncomeTaxesPaidNet`	$508.00	USD	1 Quarter
Taxes paid during the period	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Interest paid during the period	`InterestPaid`	$176.80K	USD	1 Quarter
Interest paid during the period	`InterestPaid`	$192.23K	USD	1 Quarter

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