10-Q Filing

MANHATTAN BRIDGE CAPITAL, INC CIK: 1080340 Q3 2017

Filing Information

Form Type	10-Q
Accession Number	`0001493152-17-011802`
Period End Date	20170930
Filing Date	20171019
Fiscal Year	2017
Fiscal Period	Q3
XBRL Instance	loan-20170930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 65 Income Statement 64 Cash Flow Statement 67

Balance Sheet 65 line items

Line Item	Tag	Value	Unit	Period
Debt Issuance Costs, Net (deferred financing costs)	`DeferredFinanceCostsNet`	$641.36K	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
Loans receivable	`NotesAndLoansReceivableGrossCurrent`	$44.42M	USD	Point-in-time
Loans receivable	`NotesAndLoansReceivableGrossCurrent`	$34.76M	USD	Point-in-time
Interest receivable on loans	`InterestReceivable`	$346.52K	USD	Point-in-time
Interest receivable on loans	`InterestReceivable`	$508.34K	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$158.52K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$112.18K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	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`	$106.84K	USD	Point-in-time
Deferred financing costs	`DeferredFinanceCostsGross`	$60.25K	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
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Investment in privately held company	`CostMethodInvestments`	$65.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Investment in privately held company	`CostMethodInvestments`	$25.00K	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
Investment in privately held company	`CostMethodInvestments`	$50.00K	USD	Point-in-time
Investment in privately held company	`CostMethodInvestments`	$15.00K	USD	Point-in-time
Other assets	`OtherAssets`	$58.38K	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`	8.32M	shares	Point-in-time
Total assets	`Assets`	$35.33M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.11M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.14M	shares	Point-in-time
Total assets	`Assets`	$45.17M	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`	$6.48M	USD	Point-in-time
Line of credit	`LineOfCredit`	$16.17M	USD	Point-in-time
Senior secured notes (net of deferred financing costs of $641,355 and $697,669, respectively)	`SecuredDebt`	$5.36M	USD	Point-in-time
Senior secured notes (net of deferred financing costs of $641,355 and $697,669, respectively)	`SecuredDebt`	$5.30M	USD	Point-in-time
Deferred origination fees	`DeferredOriginationFees`	$390.74K	USD	Point-in-time
Deferred origination fees	`DeferredOriginationFees`	$315.41K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$105.54K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$130.27K	USD	Point-in-time
Dividends payable	`DividendsPayableCurrentAndNoncurrent`	-	USD	Point-in-time
Dividends payable	`DividendsPayableCurrentAndNoncurrent`	$813.50K	USD	Point-in-time
Total liabilities	`Liabilities`	$22.05M	USD	Point-in-time
Total liabilities	`Liabilities`	$13.02M	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 authorized; none issued	`PreferredStockValue`	-	USD	Point-in-time
Preferred shares - $.01 par value; 5,000,000 authorized; none issued	`PreferredStockValue`	-	USD	Point-in-time
Common shares - $.001 par value; 25,000,000 authorized; 8,319,036 and 8,312,036 issued; 8,108,934 and 8,135,036 outstanding, respectively	`CommonStockValue`	$8.32K	USD	Point-in-time
Common shares - $.001 par value; 25,000,000 authorized; 8,319,036 and 8,312,036 issued; 8,108,934 and 8,135,036 outstanding, respectively	`CommonStockValue`	$8.31K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$23.13M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$23.16M	USD	Point-in-time
Treasury stock, at cost - 210,102 and 177,000 shares, respectively	`TreasuryStockValue`	$541.49K	USD	Point-in-time
Treasury stock, at cost - 210,102 and 177,000 shares, respectively	`TreasuryStockValue`	$369.33K	USD	Point-in-time
Retained earnings (Accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$488.88K	USD	Point-in-time
Retained earnings (Accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$-459.10K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$23.12M	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`	$45.17M	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Interest income from loans	`InterestIncomeFromLoans`	$3.65M	USD	3 Qtrs
Interest income from loans	`InterestIncomeFromLoans`	$960.27K	USD	1 Quarter
Interest income from loans	`InterestIncomeFromLoans`	$1.35M	USD	1 Quarter
Interest income from loans	`InterestIncomeFromLoans`	$2.85M	USD	3 Qtrs
Origination fees	`OriginationFees`	$239.68K	USD	1 Quarter
Origination fees	`OriginationFees`	$591.19K	USD	3 Qtrs
Origination fees	`OriginationFees`	$208.95K	USD	1 Quarter
Origination fees	`OriginationFees`	$675.43K	USD	3 Qtrs
Total revenue	`Revenues`	$3.44M	USD	3 Qtrs
Total revenue	`Revenues`	$4.32M	USD	3 Qtrs
Total revenue	`Revenues`	$1.59M	USD	1 Quarter
Total revenue	`Revenues`	$1.17M	USD	1 Quarter
Interest and amortization of debt service costs	`InterestAndAmortizationOfDebtServiceCosts`	$205.45K	USD	1 Quarter
Interest and amortization of debt service costs	`InterestAndAmortizationOfDebtServiceCosts`	$352.36K	USD	1 Quarter
Interest and amortization of debt service costs	`InterestAndAmortizationOfDebtServiceCosts`	$861.59K	USD	3 Qtrs
Interest and amortization of debt service costs	`InterestAndAmortizationOfDebtServiceCosts`	$593.75K	USD	3 Qtrs
Referral fees	`ReferralFees`	$2.26K	USD	1 Quarter
Referral fees	`ReferralFees`	$750.00	USD	1 Quarter
Referral fees	`ReferralFees`	$5.53K	USD	3 Qtrs
Referral fees	`ReferralFees`	$2.95K	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$698.36K	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$266.53K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$236.97K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$842.52K	USD	3 Qtrs
Total operating costs and expenses	`OperatingCostsAndExpenses`	$1.30M	USD	3 Qtrs
Total operating costs and expenses	`OperatingCostsAndExpenses`	$619.64K	USD	1 Quarter
Total operating costs and expenses	`OperatingCostsAndExpenses`	$1.71M	USD	3 Qtrs
Total operating costs and expenses	`OperatingCostsAndExpenses`	$444.68K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$2.61M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$2.14M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$971.82K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$724.54K	USD	1 Quarter
Loss on write-down of investment in privately held company (Note 4)	`CostmethodInvestmentsOtherThanTemporaryImpairment`	$10.00K	USD	3 Qtrs
Loss on write-down of investment in privately held company (Note 4)	`CostmethodInvestmentsOtherThanTemporaryImpairment`	$20.00K	USD	3 Qtrs
Loss on write-down of investment in privately held company (Note 4)	`CostmethodInvestmentsOtherThanTemporaryImpairment`	-	USD	1 Quarter
Loss on write-down of investment in privately held company (Note 4)	`CostmethodInvestmentsOtherThanTemporaryImpairment`	$10.00K	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.59M	USD	3 Qtrs
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.13M	USD	3 Qtrs
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$724.54K	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$961.82K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$2.97K	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$2.15K	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$1.10K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net income	`NetIncomeLoss`	$724.54K	USD	1 Quarter
Net income	`NetIncomeLoss`	$960.72K	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.59M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$2.13M	USD	3 Qtrs
--Basic	`EarningsPerShareBasic`	$0.10	USD	1 Quarter
--Basic	`EarningsPerShareBasic`	$0.29	USD	3 Qtrs
--Basic	`EarningsPerShareBasic`	$0.12	USD	1 Quarter
--Basic	`EarningsPerShareBasic`	$0.32	USD	3 Qtrs
--Diluted	`EarningsPerShareDiluted`	$0.29	USD	3 Qtrs
--Diluted	`EarningsPerShareDiluted`	$0.10	USD	1 Quarter
--Diluted	`EarningsPerShareDiluted`	$0.12	USD	1 Quarter
--Diluted	`EarningsPerShareDiluted`	$0.32	USD	3 Qtrs
--Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	7.60M	shares	1 Quarter
--Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	7.41M	shares	3 Qtrs
--Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	8.11M	shares	1 Quarter
--Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	8.12M	shares	3 Qtrs
--Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.43M	shares	3 Qtrs
--Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.12M	shares	1 Quarter
--Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.13M	shares	3 Qtrs
--Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.62M	shares	1 Quarter

Cash Flow Statement 67 line items

Line Item	Tag	Value	Unit	Period
Net Income	`NetIncomeLoss`	$724.54K	USD	1 Quarter
Net Income	`NetIncomeLoss`	$960.72K	USD	1 Quarter
Net Income	`NetIncomeLoss`	$2.59M	USD	3 Qtrs
Net Income	`NetIncomeLoss`	$2.13M	USD	3 Qtrs
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$51.47K	USD	3 Qtrs
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$95.38K	USD	3 Qtrs
Depreciation	`Depreciation`	$3.40K	USD	3 Qtrs
Depreciation	`Depreciation`	$2.75K	USD	3 Qtrs
Non cash compensation expense	`ShareBasedCompensation`	$9.80K	USD	3 Qtrs
Non cash compensation expense	`ShareBasedCompensation`	$3.40K	USD	1 Quarter
Non cash compensation expense	`ShareBasedCompensation`	$10.19K	USD	3 Qtrs
Non cash compensation expense	`ShareBasedCompensation`	$3.27K	USD	1 Quarter
Loss on write-down of investment in privately held company (Note 4)	`CostmethodInvestmentsOtherThanTemporaryImpairment`	$10.00K	USD	3 Qtrs
Loss on write-down of investment in privately held company (Note 4)	`CostmethodInvestmentsOtherThanTemporaryImpairment`	$20.00K	USD	3 Qtrs
Loss on write-down of investment in privately held company (Note 4)	`CostmethodInvestmentsOtherThanTemporaryImpairment`	-	USD	1 Quarter
Loss on write-down of investment in privately held company (Note 4)	`CostmethodInvestmentsOtherThanTemporaryImpairment`	$10.00K	USD	1 Quarter
Interest receivable on loans	`IncreaseDecreaseInAccruedInterestReceivableNet`	$-78.23K	USD	3 Qtrs
Interest receivable on loans	`IncreaseDecreaseInAccruedInterestReceivableNet`	$161.82K	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$15.92K	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$16.81K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-27.70K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$24.73K	USD	3 Qtrs
Deferred origination fees	`IncreaseDecreaseInDeferredOriginationFees`	$-64.88K	USD	3 Qtrs
Deferred origination fees	`IncreaseDecreaseInDeferredOriginationFees`	$-75.33K	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.64M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.30M	USD	3 Qtrs
Issuance of short term loans	`IssuanceOfShortTermLoans`	$30.31M	USD	3 Qtrs
Issuance of short term loans	`IssuanceOfShortTermLoans`	$24.30M	USD	3 Qtrs
Collections received from loans	`ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment`	$23.67M	USD	3 Qtrs
Collections received from loans	`ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment`	$20.65M	USD	3 Qtrs
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.02K	USD	3 Qtrs
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.67K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-9.67M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-630.80K	USD	3 Qtrs
Proceeds from (repayments of) line of credit, net	`ProceedsFromRepaymentsOfLinesOfCredit`	$9.69M	USD	3 Qtrs
Proceeds from (repayments of) line of credit, net	`ProceedsFromRepaymentsOfLinesOfCredit`	$-7.56M	USD	3 Qtrs
Repayments of short-term loans, net	`RepaymentsOfShortTermDebt`	-	USD	3 Qtrs
Repayments of short-term loans, net	`RepaymentsOfShortTermDebt`	$1.10M	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`	$9.54M	USD	3 Qtrs
Proceeds from public offerings, net	`ProceedsFromIssuanceInitialPublicOffering`	-	USD	3 Qtrs
Proceeds from public offerings, net	`ProceedsFromIssuanceInitialPublicOffering`	$5.20M	USD	Point-in-time
Deferred financing costs	`PaymentsOfFinancingCosts`	-	USD	3 Qtrs
Deferred financing costs	`PaymentsOfFinancingCosts`	$43.12K	USD	3 Qtrs
Proceeds from exercise of stock options and warrants	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$305.00K	USD	3 Qtrs
Proceeds from exercise of stock options and warrants	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$20.44K	USD	3 Qtrs
Purchase of treasury shares	`PaymentsForRepurchaseOfOtherEquity`	$172.16K	USD	3 Qtrs
Purchase of treasury shares	`PaymentsForRepurchaseOfOtherEquity`	-	USD	3 Qtrs
Dividends paid	`PaymentsOfDividends`	$2.46M	USD	3 Qtrs
Dividends paid	`PaymentsOfDividends`	$1.89M	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.62M	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$7.04M	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$15.88K	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$51.68K	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`	$112.18K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$96.30K	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`	$112.18K	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`	$106.84K	USD	Point-in-time
Taxes paid during the period	`IncomeTaxesPaidNet`	$2.97K	USD	3 Qtrs
Taxes paid during the period	`IncomeTaxesPaidNet`	$1.95K	USD	3 Qtrs
Interest paid during the period	`InterestPaidNet`	$713.43K	USD	3 Qtrs
Interest paid during the period	`InterestPaidNet`	$546.01K	USD	3 Qtrs

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