10-Q Filing

MANHATTAN BRIDGE CAPITAL, INC CIK: 1080340 Q2 2017

Filing Information

Form Type	10-Q
Accession Number	`0001493152-17-008206`
Period End Date	20170630
Filing Date	20170727
Fiscal Year	2017
Fiscal Period	Q2
XBRL Instance	loan-20170630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 64 Cash Flow Statement 69

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Debt Issuance Costs, Net (deferred financing costs)	`DeferredFinanceCostsNet`	$660.13K	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
Loans receivable	`NotesAndLoansReceivableGrossCurrent`	$34.76M	USD	Point-in-time
Loans receivable	`NotesAndLoansReceivableGrossCurrent`	$41.24M	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
Interest receivable on loans	`InterestReceivable`	$457.12K	USD	Point-in-time
Interest receivable on loans	`InterestReceivable`	$346.52K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$96.30K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$125.03K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$127.50K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$106.84K	USD	Point-in-time
Deferred financing costs	`DeferredFinanceCostsGross`	$32.11K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Deferred financing costs	`DeferredFinanceCostsGross`	$56.19K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Investment in privately held company	`CostMethodInvestments`	$50.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Investment in privately held company	`CostMethodInvestments`	$35.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Investment in privately held company	`CostMethodInvestments`	$65.00K	USD	Point-in-time
Investment in privately held company	`CostMethodInvestments`	$25.00K	USD	Point-in-time
Other assets	`OtherAssets`	$78.78K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.31M	shares	Point-in-time
Other assets	`OtherAssets`	$44.19K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.31M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.10M	shares	Point-in-time
Total assets	`Assets`	$35.33M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.14M	shares	Point-in-time
Total assets	`Assets`	$41.96M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	177,000.00	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	210,102.00	shares	Point-in-time
Line of credit	`LineOfCredit`	$13.17M	USD	Point-in-time
Line of credit	`LineOfCredit`	$6.48M	USD	Point-in-time
Senior secured notes (net of deferred financing costs of $660,127 and $697,669, respectively)	`SecuredDebt`	$5.34M	USD	Point-in-time
Senior secured notes (net of deferred financing costs of $660,127 and $697,669, respectively)	`SecuredDebt`	$5.30M	USD	Point-in-time
Deferred origination fees	`DeferredOriginationFees`	$315.41K	USD	Point-in-time
Deferred origination fees	`DeferredOriginationFees`	$361.52K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$105.54K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$101.49K	USD	Point-in-time
Other liabilities	`OtherLiabilities`	-	USD	Point-in-time
Other liabilities	`OtherLiabilities`	$25.00K	USD	Point-in-time
Dividends payable	`DividendsPayableCurrentAndNoncurrent`	-	USD	Point-in-time
Dividends payable	`DividendsPayableCurrentAndNoncurrent`	$813.50K	USD	Point-in-time
Total liabilities	`Liabilities`	$13.02M	USD	Point-in-time
Total liabilities	`Liabilities`	$18.99M	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; 8,101,934 and 8,135,036 outstanding, respectively	`CommonStockValue`	$8.31K	USD	Point-in-time
Common shares - $.001 par value; 25,000,000 authorized; 8,312,036 issued; 8,101,934 and 8,135,036 outstanding, respectively	`CommonStockValue`	$8.31K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$23.14M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$23.13M	USD	Point-in-time
Treasury stock, at cost 210,102 and 177,000	`TreasuryStockValue`	$369.33K	USD	Point-in-time
Treasury stock, at cost 210,102 and 177,000	`TreasuryStockValue`	$541.49K	USD	Point-in-time
Retained earnings (Accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$358.61K	USD	Point-in-time
Retained earnings (Accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$-459.10K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$22.97M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$22.31M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$35.33M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$41.96M	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Interest income from loans	`InterestIncomeFromLoans`	$1.89M	USD	2 Qtrs
Interest income from loans	`InterestIncomeFromLoans`	$1.19M	USD	1 Quarter
Interest income from loans	`InterestIncomeFromLoans`	$2.29M	USD	2 Qtrs
Interest income from loans	`InterestIncomeFromLoans`	$973.93K	USD	1 Quarter
Origination fees	`OriginationFees`	$191.96K	USD	1 Quarter
Origination fees	`OriginationFees`	$435.76K	USD	2 Qtrs
Origination fees	`OriginationFees`	$382.24K	USD	2 Qtrs
Origination fees	`OriginationFees`	$212.33K	USD	1 Quarter
Total Revenue	`Revenues`	$2.73M	USD	2 Qtrs
Total Revenue	`Revenues`	$1.40M	USD	1 Quarter
Total Revenue	`Revenues`	$2.27M	USD	2 Qtrs
Total Revenue	`Revenues`	$1.17M	USD	1 Quarter
Interest and amortization of debt service costs	`InterestAndAmortizationOfDebtServiceCosts`	$509.23K	USD	2 Qtrs
Interest and amortization of debt service costs	`InterestAndAmortizationOfDebtServiceCosts`	$388.30K	USD	2 Qtrs
Interest and amortization of debt service costs	`InterestAndAmortizationOfDebtServiceCosts`	$208.75K	USD	1 Quarter
Interest and amortization of debt service costs	`InterestAndAmortizationOfDebtServiceCosts`	$277.65K	USD	1 Quarter
Referral fees	`ReferralFees`	$1.89K	USD	1 Quarter
Referral fees	`ReferralFees`	$841.00	USD	1 Quarter
Referral fees	`ReferralFees`	$3.26K	USD	2 Qtrs
Referral fees	`ReferralFees`	$2.20K	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$461.38K	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$233.54K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$575.99K	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$270.47K	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`	$548.96K	USD	1 Quarter
Total operating costs and expenses	`OperatingCostsAndExpenses`	$1.09M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$851.94K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.64M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$1.42M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$721.70K	USD	1 Quarter
Loss on write-down of investment in privately held company (Note 4)	`CostmethodInvestmentsOtherThanTemporaryImpairment`	$10.00K	USD	1 Quarter
Loss on write-down of investment in privately held company (Note 4)	`CostmethodInvestmentsOtherThanTemporaryImpairment`	$10.00K	USD	2 Qtrs
Loss on write-down of investment in privately held company (Note 4)	`CostmethodInvestmentsOtherThanTemporaryImpairment`	$10.00K	USD	2 Qtrs
Loss on write-down of investment in privately held company (Note 4)	`CostmethodInvestmentsOtherThanTemporaryImpairment`	$10.00K	USD	1 Quarter
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`	$1.63M	USD	2 Qtrs
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$841.94K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$1.87K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$1.87K	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$1.64K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$2.15K	USD	2 Qtrs
Net income	`NetIncomeLoss`	$840.07K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.63M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$710.07K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.41M	USD	2 Qtrs
-Basic	`EarningsPerShareBasic`	$0.10	USD	1 Quarter
-Basic	`EarningsPerShareBasic`	$0.19	USD	2 Qtrs
-Basic	`EarningsPerShareBasic`	$0.20	USD	2 Qtrs
-Basic	`EarningsPerShareBasic`	$0.10	USD	1 Quarter
-Diluted	`EarningsPerShareDiluted`	$0.10	USD	1 Quarter
-Diluted	`EarningsPerShareDiluted`	$0.19	USD	2 Qtrs
-Diluted	`EarningsPerShareDiluted`	$0.10	USD	1 Quarter
-Diluted	`EarningsPerShareDiluted`	$0.20	USD	2 Qtrs
-Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	8.13M	shares	2 Qtrs
-Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	7.27M	shares	2 Qtrs
-Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	7.28M	shares	1 Quarter
-Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	8.12M	shares	1 Quarter
-Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.31M	shares	1 Quarter
-Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.30M	shares	2 Qtrs
-Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.14M	shares	2 Qtrs
-Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.13M	shares	1 Quarter

Cash Flow Statement 69 line items

Line Item	Tag	Value	Unit	Period
Net Income	`NetIncomeLoss`	$840.07K	USD	1 Quarter
Net Income	`NetIncomeLoss`	$1.63M	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`	$61.62K	USD	2 Qtrs
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$39.43K	USD	2 Qtrs
Depreciation	`Depreciation`	$2.19K	USD	2 Qtrs
Depreciation	`Depreciation`	$1.78K	USD	2 Qtrs
Non cash compensation expense	`ShareBasedCompensation`	$6.79K	USD	2 Qtrs
Non cash compensation expense	`ShareBasedCompensation`	$6.53K	USD	2 Qtrs
Non cash compensation expense	`ShareBasedCompensation`	$3.27K	USD	1 Quarter
Non cash compensation expense	`ShareBasedCompensation`	$3.40K	USD	1 Quarter
Loss on write-down of investment in privately held company (Note 4)	`CostmethodInvestmentsOtherThanTemporaryImpairment`	$10.00K	USD	1 Quarter
Loss on write-down of investment in privately held company (Note 4)	`CostmethodInvestmentsOtherThanTemporaryImpairment`	$10.00K	USD	2 Qtrs
Loss on write-down of investment in privately held company (Note 4)	`CostmethodInvestmentsOtherThanTemporaryImpairment`	$10.00K	USD	2 Qtrs
Loss on write-down of investment in privately held company (Note 4)	`CostmethodInvestmentsOtherThanTemporaryImpairment`	$10.00K	USD	1 Quarter
Interest receivable on loans	`IncreaseDecreaseInAccruedInterestReceivableNet`	$110.60K	USD	2 Qtrs
Interest receivable on loans	`IncreaseDecreaseInAccruedInterestReceivableNet`	$-82.21K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$35.11K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$26.73K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-10.06K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-4.05K	USD	2 Qtrs
Deferred origination fees	`IncreaseDecreaseInDeferredOriginationFees`	$-46.11K	USD	2 Qtrs
Deferred origination fees	`IncreaseDecreaseInDeferredOriginationFees`	$-31.73K	USD	2 Qtrs
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$25.00K	USD	2 Qtrs
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	-	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.54M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.63M	USD	2 Qtrs
Issuance of short term loans	`IssuanceOfShortTermLoans`	$20.60M	USD	2 Qtrs
Issuance of short term loans	`IssuanceOfShortTermLoans`	$14.87M	USD	2 Qtrs
Collections received from loans	`ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment`	$13.64M	USD	2 Qtrs
Collections received from loans	`ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment`	$14.11M	USD	2 Qtrs
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.67K	USD	2 Qtrs
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.50K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.23M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.49M	USD	2 Qtrs
Proceeds from (Repayments of) lines of credit, net	`ProceedsFromRepaymentsOfLinesOfCredit`	$-2.35M	USD	2 Qtrs
Proceeds from (Repayments of) lines of credit, net	`ProceedsFromRepaymentsOfLinesOfCredit`	$6.68M	USD	2 Qtrs
Dividend paid	`PaymentsOfDividends`	$1.63M	USD	2 Qtrs
Dividend paid	`PaymentsOfDividends`	$1.24M	USD	2 Qtrs
Purchase of treasury shares	`PaymentsForRepurchaseOfOtherEquity`	$172.16K	USD	2 Qtrs
Purchase of treasury shares	`PaymentsForRepurchaseOfOtherEquity`	-	USD	2 Qtrs
Repayments of short-term loans, net	`RepaymentsOfShortTermDebt`	$1.10M	USD	2 Qtrs
Repayments of short-term loans, net	`RepaymentsOfShortTermDebt`	-	USD	2 Qtrs
Cash restricted for reduction of line of credit	`CashRestrictedForReductionOfLineOfCredit`	-	USD	2 Qtrs
Cash restricted for reduction of line of credit	`CashRestrictedForReductionOfLineOfCredit`	$1.41M	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
Proceeds from public offering, net	`ProceedsFromIssuanceInitialPublicOffering`	$5.32M	USD	2 Qtrs
Proceeds from public offering, net	`ProceedsFromIssuanceInitialPublicOffering`	-	USD	2 Qtrs
Proceeds from public offering, net	`ProceedsFromIssuanceInitialPublicOffering`	$5.20M	USD	Point-in-time
Proceeds from exercise of stock options and warrants	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	-	USD	2 Qtrs
Proceeds from exercise of stock options and warrants	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$100.46K	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-288.55K	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$4.88M	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$28.73K	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$20.66K	USD	2 Qtrs
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$96.30K	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$125.03K	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`	$106.84K	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`	$125.03K	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`	$106.84K	USD	Point-in-time
Taxes paid during the period	`IncomeTaxesPaidNet`	$1.87K	USD	2 Qtrs
Taxes paid during the period	`IncomeTaxesPaidNet`	$1.95K	USD	2 Qtrs
Interest paid during the period	`InterestPaid`	$348.44K	USD	2 Qtrs
Interest paid during the period	`InterestPaid`	$415.27K	USD	2 Qtrs

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