10-Q Filing

MANHATTAN BRIDGE CAPITAL, INC CIK: 1080340 Q2 2018

Filing Information

Form Type	10-Q
Accession Number	`0001493152-18-010553`
Period End Date	20180630
Filing Date	20180727
Fiscal Year	2018
Fiscal Period	Q2
XBRL Instance	loan-20180630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 64 Cash Flow Statement 62

Balance Sheet 64 line items

Line Item	Tag	Value	Unit	Period
Debt issuance costs, net (deferred financing costs)	`DeferredFinanceCostsNet`	$585.04K	USD	Point-in-time
Debt issuance costs, net (deferred financing costs)	`DeferredFinanceCostsNet`	$622.58K	USD	Point-in-time
Loans receivable	`LoansReceivableNet`	$45.12M	USD	Point-in-time
Loans receivable	`LoansReceivableNet`	$51.85M	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
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Interest receivable on loans	`InterestReceivable`	$570.80K	USD	Point-in-time
Interest receivable on loans	`InterestReceivable`	$535.04K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$125.03K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$129.49K	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`	$136.44K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$96.30K	USD	Point-in-time
Deferred financing costs	`DeferredFinanceCostsGross`	$31.36K	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
Deferred financing costs	`DeferredFinanceCostsGross`	$45.27K	USD	Point-in-time
Other assets	`OtherAssets`	$142.06K	USD	Point-in-time
Other assets	`OtherAssets`	$55.94K	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
Common stock, shares issued	`CommonStockSharesIssued`	8.33M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.32M	shares	Point-in-time
Total assets	`Assets`	$52.72M	USD	Point-in-time
Total assets	`Assets`	$45.90M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.11M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.12M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	210,102.00	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	210,102.00	shares	Point-in-time
Line of credit	`LineOfCredit`	$16.91M	USD	Point-in-time
Line of credit	`LineOfCredit`	$20.00M	USD	Point-in-time
Short term loans - related party	`OtherShortTermBorrowings`	$2.43M	USD	Point-in-time
Short term loans - related party	`OtherShortTermBorrowings`	-	USD	Point-in-time
Short term loan	`ShortTermBorrowings`	-	USD	Point-in-time
Short term loan	`ShortTermBorrowings`	$1.00M	USD	Point-in-time
Senior secured notes (net of deferred financing costs of $585,041 and $622,584)	`SecuredDebt`	$5.41M	USD	Point-in-time
Senior secured notes (net of deferred financing costs of $585,041 and $622,584)	`SecuredDebt`	$5.38M	USD	Point-in-time
Deferred origination fees	`DeferredOriginationFees`	$298.47K	USD	Point-in-time
Deferred origination fees	`DeferredOriginationFees`	$428.58K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$167.56K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$187.51K	USD	Point-in-time
Dividends payable	`DividendsPayableCurrentAndNoncurrent`	-	USD	Point-in-time
Dividends payable	`DividendsPayableCurrentAndNoncurrent`	$891.98K	USD	Point-in-time
Total liabilities	`Liabilities`	$23.65M	USD	Point-in-time
Total liabilities	`Liabilities`	$29.46M	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; none issued	`PreferredStockValue`	-	USD	Point-in-time
Preferred shares - $.01 par value; 5,000,000 shares authorized; none issued	`PreferredStockValue`	-	USD	Point-in-time
Common shares - $.001 par value; 25,000,000 shares authorized; 8,327,917 and 8,319,036 issued, respectively; 8,117,815 and 8,108,934 outstanding, respectively	`CommonStockValue`	$8.32K	USD	Point-in-time
Common shares - $.001 par value; 25,000,000 shares authorized; 8,327,917 and 8,319,036 issued, respectively; 8,117,815 and 8,108,934 outstanding, respectively	`CommonStockValue`	$8.33K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$23.22M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$23.17M	USD	Point-in-time
Treasury stock, at cost - 210,102 shares	`TreasuryStockValue`	$541.49K	USD	Point-in-time
Treasury stock, at cost - 210,102 shares	`TreasuryStockValue`	$541.49K	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$-387.67K	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$569.57K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$23.26M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$22.25M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$52.72M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$45.90M	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Interest income from loans	`InterestIncomeFromLoans`	$2.85M	USD	2 Qtrs
Interest income from loans	`InterestIncomeFromLoans`	$1.42M	USD	1 Quarter
Interest income from loans	`InterestIncomeFromLoans`	$1.19M	USD	1 Quarter
Interest income from loans	`InterestIncomeFromLoans`	$2.29M	USD	2 Qtrs
Origination fees	`OriginationFees`	$435.76K	USD	2 Qtrs
Origination fees	`OriginationFees`	$244.35K	USD	1 Quarter
Origination fees	`OriginationFees`	$212.33K	USD	1 Quarter
Origination fees	`OriginationFees`	$479.57K	USD	2 Qtrs
Total Revenue	`Revenues`	$1.40M	USD	1 Quarter
Total Revenue	`Revenues`	$1.67M	USD	1 Quarter
Total Revenue	`Revenues`	$3.33M	USD	2 Qtrs
Total Revenue	`Revenues`	$2.73M	USD	2 Qtrs
Interest and amortization of debt service costs	`InterestAndAmortizationOfDebtServiceCosts`	$277.65K	USD	1 Quarter
Interest and amortization of debt service costs	`InterestAndAmortizationOfDebtServiceCosts`	$810.78K	USD	2 Qtrs
Interest and amortization of debt service costs	`InterestAndAmortizationOfDebtServiceCosts`	$413.07K	USD	1 Quarter
Interest and amortization of debt service costs	`InterestAndAmortizationOfDebtServiceCosts`	$509.23K	USD	2 Qtrs
Referral fees	`ReferralFees`	$416.00	USD	2 Qtrs
Referral fees	`ReferralFees`	$2.20K	USD	2 Qtrs
Referral fees	`ReferralFees`	$83.00	USD	1 Quarter
Referral fees	`ReferralFees`	$841.00	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$590.67K	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$575.99K	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$270.47K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$305.15K	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
Total operating costs and expenses	`OperatingCostsAndExpenses`	$1.40M	USD	2 Qtrs
Total operating costs and expenses	`OperatingCostsAndExpenses`	$718.31K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$949.39K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.93M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$851.94K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.64M	USD	2 Qtrs
Loss on write-down of investment in privately held company	`CostmethodInvestmentsOtherThanTemporaryImpairment`	-	USD	2 Qtrs
Loss on write-down of investment in privately held company	`CostmethodInvestmentsOtherThanTemporaryImpairment`	$10.00K	USD	1 Quarter
Loss on write-down of investment in privately held company	`CostmethodInvestmentsOtherThanTemporaryImpairment`	$10.00K	USD	2 Qtrs
Loss on write-down of investment in privately held company	`CostmethodInvestmentsOtherThanTemporaryImpairment`	-	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$841.94K	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$949.39K	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.63M	USD	2 Qtrs
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.93M	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$1.87K	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$1.87K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.63M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$949.39K	USD	1 Quarter
Net income	`NetIncomeLoss`	$840.07K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.93M	USD	2 Qtrs
--Basic	`EarningsPerShareBasic`	$0.20	USD	2 Qtrs
--Basic	`EarningsPerShareBasic`	$0.24	USD	2 Qtrs
--Basic	`EarningsPerShareBasic`	$0.12	USD	1 Quarter
--Basic	`EarningsPerShareBasic`	$0.10	USD	1 Quarter
--Diluted	`EarningsPerShareDiluted`	$0.20	USD	2 Qtrs
--Diluted	`EarningsPerShareDiluted`	$0.10	USD	1 Quarter
--Diluted	`EarningsPerShareDiluted`	$0.24	USD	2 Qtrs
--Diluted	`EarningsPerShareDiluted`	$0.12	USD	1 Quarter
--Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	8.11M	shares	1 Quarter
--Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	8.12M	shares	1 Quarter
--Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	8.11M	shares	2 Qtrs
--Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	8.13M	shares	2 Qtrs
--Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.13M	shares	1 Quarter
--Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.12M	shares	1 Quarter
--Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.12M	shares	2 Qtrs
--Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.14M	shares	2 Qtrs

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net Income	`NetIncomeLoss`	$1.63M	USD	2 Qtrs
Net Income	`NetIncomeLoss`	$949.39K	USD	1 Quarter
Net Income	`NetIncomeLoss`	$840.07K	USD	1 Quarter
Net Income	`NetIncomeLoss`	$1.93M	USD	2 Qtrs
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$61.62K	USD	2 Qtrs
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$51.45K	USD	2 Qtrs
Depreciation	`Depreciation`	$2.19K	USD	2 Qtrs
Depreciation	`Depreciation`	$2.27K	USD	2 Qtrs
Non cash compensation expense	`ShareBasedCompensation`	$6.53K	USD	2 Qtrs
Non cash compensation expense	`ShareBasedCompensation`	$6.53K	USD	2 Qtrs
Loss on write-down of investment in privately held company	`CostmethodInvestmentsOtherThanTemporaryImpairment`	-	USD	2 Qtrs
Loss on write-down of investment in privately held company	`CostmethodInvestmentsOtherThanTemporaryImpairment`	$10.00K	USD	1 Quarter
Loss on write-down of investment in privately held company	`CostmethodInvestmentsOtherThanTemporaryImpairment`	$10.00K	USD	2 Qtrs
Loss on write-down of investment in privately held company	`CostmethodInvestmentsOtherThanTemporaryImpairment`	-	USD	1 Quarter
Interest receivable on loans	`IncreaseDecreaseInAccruedInterestReceivableNet`	$35.76K	USD	2 Qtrs
Interest receivable on loans	`IncreaseDecreaseInAccruedInterestReceivableNet`	$110.60K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$35.11K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$76.10K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$19.95K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-4.05K	USD	2 Qtrs
Deferred origination fees	`IncreaseDecreaseInDeferredOriginationFees`	$-130.10K	USD	2 Qtrs
Deferred origination fees	`IncreaseDecreaseInDeferredOriginationFees`	$-46.11K	USD	2 Qtrs
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$25.00K	USD	2 Qtrs
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	-	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.63M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.03M	USD	2 Qtrs
Issuance of short term loans	`IssuanceOfShortTermLoans`	$27.79M	USD	2 Qtrs
Issuance of short term loans	`IssuanceOfShortTermLoans`	$20.60M	USD	2 Qtrs
Collections received from loans	`ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment`	$21.07M	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`	-	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.72M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.49M	USD	2 Qtrs
Proceeds from line of credit, net	`ProceedsFromLinesOfCredit`	$3.09M	USD	2 Qtrs
Proceeds from line of credit, net	`ProceedsFromLinesOfCredit`	$6.68M	USD	2 Qtrs
Proceeds from short-term loans, net	`ProceedsFromShortTermDebt`	$3.43M	USD	2 Qtrs
Proceeds from short-term loans, net	`ProceedsFromShortTermDebt`	-	USD	2 Qtrs
Dividend paid	`PaymentsOfDividends`	$1.63M	USD	2 Qtrs
Dividend paid	`PaymentsOfDividends`	$1.87M	USD	2 Qtrs
Purchase of treasury shares	`PaymentsForRepurchaseOfOtherEquity`	$172.16K	USD	2 Qtrs
Purchase of treasury shares	`PaymentsForRepurchaseOfOtherEquity`	-	USD	2 Qtrs
Capital raising costs	`PaymentsForCapitalRaisingCosts`	$12.30K	USD	2 Qtrs
Capital raising costs	`PaymentsForCapitalRaisingCosts`	-	USD	2 Qtrs
Proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	$48.73K	USD	2 Qtrs
Proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	-	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$4.88M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$4.69M	USD	2 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-6.95K	USD	2 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$28.73K	USD	2 Qtrs
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$125.03K	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$129.49K	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$136.44K	USD	Point-in-time
Cash and cash equivalents, beginning of year	`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`	$129.49K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$136.44K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$96.30K	USD	Point-in-time
Taxes paid during the period	`IncomeTaxesPaidNet`	-	USD	2 Qtrs
Taxes paid during the period	`IncomeTaxesPaidNet`	$1.87K	USD	2 Qtrs
Interest paid during the period	`InterestPaidNet`	$415.27K	USD	2 Qtrs
Interest paid during the period	`InterestPaidNet`	$733.22K	USD	2 Qtrs

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