10-Q Filing

MANHATTAN BRIDGE CAPITAL, INC CIK: 1080340 Q3 2018

Filing Information

Form Type	10-Q
Accession Number	`0001493152-18-014601`
Period End Date	20180930
Filing Date	20181018
Fiscal Year	2018
Fiscal Period	Q3
XBRL Instance	loan-20180930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 64 Cash Flow Statement 62

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Debt issuance costs, net (deferred financing costs)	`DeferredFinanceCostsNet`	$622.58K	USD	Point-in-time
Debt issuance costs, net (deferred financing costs)	`DeferredFinanceCostsNet`	$566.27K	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	`LoansReceivableNet`	$45.12M	USD	Point-in-time
Loans receivable	`LoansReceivableNet`	$58.51M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Interest receivable on loans	`InterestReceivable`	$642.13K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Interest receivable on loans	`InterestReceivable`	$535.04K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Cash	`Cash`	$140.72K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Cash	`Cash`	$96.30K	USD	Point-in-time
Cash	`Cash`	$112.18K	USD	Point-in-time
Cash	`Cash`	$136.44K	USD	Point-in-time
Cash - restricted	`RestrictedCash`	$1.72M	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
Cash - restricted	`RestrictedCash`	-	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Deferred financing costs	`DeferredFinanceCostsGross`	$46.89K	USD	Point-in-time
Deferred financing costs	`DeferredFinanceCostsGross`	$45.27K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.32M	shares	Point-in-time
Other assets	`OtherAssets`	$100.70K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.87M	shares	Point-in-time
Other assets	`OtherAssets`	$55.94K	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`	9.66M	shares	Point-in-time
Total assets	`Assets`	$61.16M	USD	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`	$21.72M	USD	Point-in-time
Senior secured notes (net of deferred financing costs of $566,270 and $622,584)	`SecuredDebt`	$5.43M	USD	Point-in-time
Senior secured notes (net of deferred financing costs of $566,270 and $622,584)	`SecuredDebt`	$5.38M	USD	Point-in-time
Deferred origination fees	`DeferredOriginationFees`	$298.47K	USD	Point-in-time
Deferred origination fees	`DeferredOriginationFees`	$497.85K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$167.56K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$152.39K	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`	$27.80M	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; 9,873,703 and 8,319,036 issued, respectively; 9,663,601 and 8,108,934 outstanding, respectively	`CommonStockValue`	$8.32K	USD	Point-in-time
Common shares - $.001 par value; 25,000,000 shares authorized; 9,873,703 and 8,319,036 issued, respectively; 9,663,601 and 8,108,934 outstanding, respectively	`CommonStockValue`	$9.87K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$23.17M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$33.11M	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`	$784.25K	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$-387.67K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$33.36M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$22.25M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$45.90M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$61.16M	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Interest income from loans	`InterestIncomeFromLoans`	$4.47M	USD	3 Qtrs
Interest income from loans	`InterestIncomeFromLoans`	$3.65M	USD	3 Qtrs
Interest income from loans	`InterestIncomeFromLoans`	$1.35M	USD	1 Quarter
Interest income from loans	`InterestIncomeFromLoans`	$1.62M	USD	1 Quarter
Origination fees	`OriginationFees`	$675.43K	USD	3 Qtrs
Origination fees	`OriginationFees`	$239.68K	USD	1 Quarter
Origination fees	`OriginationFees`	$274.94K	USD	1 Quarter
Origination fees	`OriginationFees`	$754.51K	USD	3 Qtrs
Total revenue	`Revenues`	$4.32M	USD	3 Qtrs
Total revenue	`Revenues`	$5.22M	USD	3 Qtrs
Total revenue	`Revenues`	$1.59M	USD	1 Quarter
Total revenue	`Revenues`	$1.89M	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`	$1.24M	USD	3 Qtrs
Interest and amortization of debt service costs	`InterestAndAmortizationOfDebtServiceCosts`	$429.42K	USD	1 Quarter
Referral fees	`ReferralFees`	$667.00	USD	3 Qtrs
Referral fees	`ReferralFees`	$250.00	USD	1 Quarter
Referral fees	`ReferralFees`	$750.00	USD	1 Quarter
Referral fees	`ReferralFees`	$2.95K	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$266.53K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$842.52K	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$862.99K	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$272.32K	USD	1 Quarter
Total operating costs and expenses	`OperatingCostsAndExpenses`	$701.99K	USD	1 Quarter
Total operating costs and expenses	`OperatingCostsAndExpenses`	$2.10M	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
Income from operations	`OperatingIncomeLoss`	$3.12M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$971.82K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$2.61M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$1.19M	USD	1 Quarter
Loss on write-down of investment in privately held company	`CostmethodInvestmentsOtherThanTemporaryImpairment`	$20.00K	USD	3 Qtrs
Loss on write-down of investment in privately held company	`CostmethodInvestmentsOtherThanTemporaryImpairment`	-	USD	1 Quarter
Loss on write-down of investment in privately held company	`CostmethodInvestmentsOtherThanTemporaryImpairment`	-	USD	3 Qtrs
Loss on write-down of investment in privately held company	`CostmethodInvestmentsOtherThanTemporaryImpairment`	$10.00K	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$961.82K	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.19M	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.59M	USD	3 Qtrs
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.12M	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$2.97K	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$642.00	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$642.00	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$1.10K	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.12M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$1.19M	USD	1 Quarter
Net income	`NetIncomeLoss`	$960.72K	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.59M	USD	3 Qtrs
--Basic	`EarningsPerShareBasic`	$0.37	USD	3 Qtrs
--Basic	`EarningsPerShareBasic`	$0.32	USD	3 Qtrs
--Basic	`EarningsPerShareBasic`	$0.12	USD	1 Quarter
--Basic	`EarningsPerShareBasic`	$0.13	USD	1 Quarter
--Diluted	`EarningsPerShareDiluted`	$0.12	USD	1 Quarter
--Diluted	`EarningsPerShareDiluted`	$0.13	USD	1 Quarter
--Diluted	`EarningsPerShareDiluted`	$0.37	USD	3 Qtrs
--Diluted	`EarningsPerShareDiluted`	$0.32	USD	3 Qtrs
--Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	8.11M	shares	1 Quarter
--Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	9.27M	shares	1 Quarter
--Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	8.12M	shares	3 Qtrs
--Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	8.50M	shares	3 Qtrs
--Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.12M	shares	1 Quarter
--Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.13M	shares	3 Qtrs
--Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	9.27M	shares	1 Quarter
--Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.51M	shares	3 Qtrs

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net Income	`NetIncomeLoss`	$3.12M	USD	3 Qtrs
Net Income	`NetIncomeLoss`	$1.19M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$960.72K	USD	1 Quarter
Net Income	`NetIncomeLoss`	$2.59M	USD	3 Qtrs
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$95.38K	USD	3 Qtrs
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$75.07K	USD	3 Qtrs
Depreciation	`Depreciation`	$3.40K	USD	3 Qtrs
Depreciation	`Depreciation`	$3.29K	USD	3 Qtrs
Non cash compensation expense	`ShareBasedCompensation`	$9.80K	USD	3 Qtrs
Non cash compensation expense	`ShareBasedCompensation`	$9.80K	USD	3 Qtrs
Loss on write-down of investment in privately held company	`CostmethodInvestmentsOtherThanTemporaryImpairment`	$20.00K	USD	3 Qtrs
Loss on write-down of investment in privately held company	`CostmethodInvestmentsOtherThanTemporaryImpairment`	-	USD	1 Quarter
Loss on write-down of investment in privately held company	`CostmethodInvestmentsOtherThanTemporaryImpairment`	-	USD	3 Qtrs
Loss on write-down of investment in privately held company	`CostmethodInvestmentsOtherThanTemporaryImpairment`	$10.00K	USD	1 Quarter
Interest receivable on loans	`IncreaseDecreaseInAccruedInterestReceivableNet`	$161.82K	USD	3 Qtrs
Interest receivable on loans	`IncreaseDecreaseInAccruedInterestReceivableNet`	$107.09K	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$15.92K	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$48.05K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$24.73K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-15.17K	USD	3 Qtrs
Deferred origination fees	`IncreaseDecreaseInDeferredOriginationFees`	$-75.33K	USD	3 Qtrs
Deferred origination fees	`IncreaseDecreaseInDeferredOriginationFees`	$-199.38K	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.24M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.64M	USD	3 Qtrs
Issuance of short term loans	`IssuanceOfShortTermLoans`	$-30.31M	USD	3 Qtrs
Issuance of short term loans	`IssuanceOfShortTermLoans`	$-42.42M	USD	3 Qtrs
Collections received from loans	`ProceedsFromCollectionOfLoansReceivable`	$20.65M	USD	3 Qtrs
Collections received from loans	`ProceedsFromCollectionOfLoansReceivable`	$29.03M	USD	3 Qtrs
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.67K	USD	3 Qtrs
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-13.39M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-9.67M	USD	3 Qtrs
Proceeds from line of credit, net	`ProceedsFromLinesOfCredit`	$9.69M	USD	3 Qtrs
Proceeds from line of credit, net	`ProceedsFromLinesOfCredit`	$4.80M	USD	3 Qtrs
Proceeds from public offering, net	`ProceedsFromIssuanceInitialPublicOffering`	-	USD	3 Qtrs
Proceeds from public offering, net	`ProceedsFromIssuanceInitialPublicOffering`	$9.88M	USD	3 Qtrs
Proceeds from exercise of stock options and warrants	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$48.73K	USD	3 Qtrs
Proceeds from exercise of stock options and warrants	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$20.44K	USD	3 Qtrs
Dividends paid	`PaymentsOfDividends`	$2.84M	USD	3 Qtrs
Dividends paid	`PaymentsOfDividends`	$2.46M	USD	3 Qtrs
Cash restricted for reduction of line of credit	`CashRestrictedForReductionOfLineOfCredit`	-	USD	3 Qtrs
Cash restricted for reduction of line of credit	`CashRestrictedForReductionOfLineOfCredit`	$1.72M	USD	3 Qtrs
Deferred financing costs	`PaymentsOfFinancingCosts`	$20.38K	USD	3 Qtrs
Deferred financing costs	`PaymentsOfFinancingCosts`	$43.12K	USD	3 Qtrs
Purchase of treasury shares	`PaymentsForRepurchaseOfOtherEquity`	-	USD	3 Qtrs
Purchase of treasury shares	`PaymentsForRepurchaseOfOtherEquity`	$172.16K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$10.16M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$7.04M	USD	3 Qtrs
Net increase in cash	`CashPeriodIncreaseDecrease`	$4.28K	USD	3 Qtrs
Net increase in cash	`CashPeriodIncreaseDecrease`	$15.88K	USD	3 Qtrs
Cash, beginning of period	`Cash`	$140.72K	USD	Point-in-time
Cash, beginning of period	`Cash`	$96.30K	USD	Point-in-time
Cash, beginning of period	`Cash`	$112.18K	USD	Point-in-time
Cash, beginning of period	`Cash`	$136.44K	USD	Point-in-time
Cash, end of period	`Cash`	$140.72K	USD	Point-in-time
Cash, end of period	`Cash`	$96.30K	USD	Point-in-time
Cash, end of period	`Cash`	$112.18K	USD	Point-in-time
Cash, end of period	`Cash`	$136.44K	USD	Point-in-time
Taxes paid during the period	`IncomeTaxesPaidNet`	$2.97K	USD	3 Qtrs
Taxes paid during the period	`IncomeTaxesPaidNet`	$642.00	USD	3 Qtrs
Interest paid during the period	`InterestPaidNet`	$713.43K	USD	3 Qtrs
Interest paid during the period	`InterestPaidNet`	$1.14M	USD	3 Qtrs

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