10-Q Filing

MANHATTAN BRIDGE CAPITAL, INC CIK: 1080340 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001493152-20-006220`
Period End Date	20200331
Filing Date	20200413
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	loan-20200331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 65 Income Statement 28 Cash Flow Statement 58 Stockholders Equity 15

Balance Sheet 65 line items

Line Item	Tag	Value	Unit	Period
Senior secured notes, deferred financing costs	`DeferredFinanceCostsNet`	$453.64K	USD	Point-in-time
Senior secured notes, deferred financing costs	`DeferredFinanceCostsNet`	$472.41K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Loans receivable	`NotesReceivableNet`	$56.81M	USD	Point-in-time
Loans receivable	`NotesReceivableNet`	$53.49M	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`	$716.92K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Interest receivable on loans	`InterestReceivable`	$676.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Cash	`Cash`	$118.41K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Cash	`Cash`	$212.56K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Other assets	`OtherAssets`	$73.54K	USD	Point-in-time
Other assets	`OtherAssets`	$53.22K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Operating lease right-of-use asset, net	`OperatingLeaseRightOfUseAsset`	$87.75K	USD	Point-in-time
Operating lease right-of-use asset, net	`OperatingLeaseRightOfUseAsset`	$76.39K	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`	9.88M	shares	Point-in-time
Deferred financing costs	`DeferredFinanceCostsGross`	$22.64K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.88M	shares	Point-in-time
Deferred financing costs	`DeferredFinanceCostsGross`	$44.13K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.63M	shares	Point-in-time
Total assets	`Assets`	$54.44M	USD	Point-in-time
Total assets	`Assets`	$57.94M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.66M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	223,214.00	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	249,823.00	shares	Point-in-time
Line of credit	`LineOfCredit`	$18.86M	USD	Point-in-time
Line of credit	`LineOfCredit`	$15.23M	USD	Point-in-time
Senior secured notes (net of deferred financing costs of $453,642 and $472,413)	`SecuredDebt`	$5.55M	USD	Point-in-time
Senior secured notes (net of deferred financing costs of $453,642 and $472,413)	`SecuredDebt`	$5.53M	USD	Point-in-time
Deferred origination fees	`DeferredOriginationFees`	$454.49K	USD	Point-in-time
Deferred origination fees	`DeferredOriginationFees`	$322.12K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$151.82K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$165.29K	USD	Point-in-time
Operating lease liability	`OperatingLeaseLiability`	$79.40K	USD	Point-in-time
Operating lease liability	`OperatingLeaseLiability`	$91.03K	USD	Point-in-time
Other liabilities	`OtherLiabilities`	$15.00K	USD	Point-in-time
Other liabilities	`OtherLiabilities`	-	USD	Point-in-time
Dividends payable	`DividendsPayableCurrentAndNoncurrent`	$1.16M	USD	Point-in-time
Dividends payable	`DividendsPayableCurrentAndNoncurrent`	-	USD	Point-in-time
Total liabilities	`Liabilities`	$22.50M	USD	Point-in-time
Total liabilities	`Liabilities`	$25.11M	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; 9,882,058 issued; 9,632,235 and 9,658,844 outstanding, respectively	`CommonStockValue`	$9.88K	USD	Point-in-time
Common shares - $.001 par value; 25,000,000 shares authorized; 9,882,058 issued; 9,632,235 and 9,658,844 outstanding, respectively	`CommonStockValue`	$9.88K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$33.14M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$33.15M	USD	Point-in-time
Treasury stock, at cost - 249,823 and 223,214 shares	`TreasuryStockValue`	$750.72K	USD	Point-in-time
Treasury stock, at cost - 249,823 and 223,214 shares	`TreasuryStockValue`	$619.69K	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$425.41K	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$-590.81K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$31.94M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$33.22M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$32.08M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$32.83M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$54.44M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$57.94M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Interest income from loans	`InterestIncomeFromLoans`	$1.50M	USD	1 Quarter
Interest income from loans	`InterestIncomeFromLoans`	$1.47M	USD	1 Quarter
Origination fees	`OriginationFees`	$237.44K	USD	1 Quarter
Origination fees	`OriginationFees`	$284.97K	USD	1 Quarter
Total revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.79M	USD	1 Quarter
Total revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.71M	USD	1 Quarter
Interest and amortization of deferred financing costs	`InterestAndAmortizationOfDeferredFinancingCosts`	$352.44K	USD	1 Quarter
Interest and amortization of deferred financing costs	`InterestAndAmortizationOfDeferredFinancingCosts`	$378.88K	USD	1 Quarter
Referral fees	`ReferralFees`	$2.08K	USD	1 Quarter
Referral fees	`ReferralFees`	$542.00	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$288.74K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$344.78K	USD	1 Quarter
Total operating costs and expenses	`OperatingCostsAndExpenses`	$697.76K	USD	1 Quarter
Total operating costs and expenses	`OperatingCostsAndExpenses`	$669.70K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.12M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.01M	USD	1 Quarter
Other income	`OtherIncome`	$3.00K	USD	1 Quarter
Other income	`OtherIncome`	$3.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.12M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.02M	USD	1 Quarter
-Basic	`EarningsPerShareBasic`	$0.11	USD	1 Quarter
-Basic	`EarningsPerShareBasic`	$0.12	USD	1 Quarter
-Diluted	`EarningsPerShareDiluted`	$0.12	USD	1 Quarter
-Diluted	`EarningsPerShareDiluted`	$0.11	USD	1 Quarter
-Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	9.66M	shares	1 Quarter
-Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	9.65M	shares	1 Quarter
-Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	9.65M	shares	1 Quarter
-Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	9.66M	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.12M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.02M	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$24.38K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$23.62K	USD	1 Quarter
Adjustment to operating lease right-of-use asset and liability	`AdjustmentToOperatingLeaseRightofuseAssetAndLiability`	-	USD	1 Quarter
Adjustment to operating lease right-of-use asset and liability	`AdjustmentToOperatingLeaseRightofuseAssetAndLiability`	$-261.00	USD	1 Quarter
Depreciation	`Depreciation`	$431.00	USD	1 Quarter
Depreciation	`Depreciation`	$283.00	USD	1 Quarter
Non cash compensation expense	`ShareBasedCompensation`	$3.27K	USD	1 Quarter
Non cash compensation expense	`ShareBasedCompensation`	$3.27K	USD	1 Quarter
Interest receivable on loans	`IncreaseDecreaseInAccruedInterestReceivableNet`	$40.92K	USD	1 Quarter
Interest receivable on loans	`IncreaseDecreaseInAccruedInterestReceivableNet`	$-14.36K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$19.68K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$14.66K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-40.24K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$13.46K	USD	1 Quarter
Deferred origination fees	`IncreaseDecreaseInDeferredOriginationFees`	$-132.37K	USD	1 Quarter
Deferred origination fees	`IncreaseDecreaseInDeferredOriginationFees`	$-17.41K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.13M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.13M	USD	1 Quarter
Issuance of short term loans	`IssuanceOfShortTermLoans`	$-13.33M	USD	1 Quarter
Issuance of short term loans	`IssuanceOfShortTermLoans`	$-16.08M	USD	1 Quarter
Collections received from loans	`ProceedsFromCollectionOfLoansReceivable`	$12.75M	USD	1 Quarter
Collections received from loans	`ProceedsFromCollectionOfLoansReceivable`	$13.37M	USD	1 Quarter
Release of loan holdback relating to mortgage receivable	`PaymentsToAcquireMortgageNotesReceivable`	-	USD	1 Quarter
Release of loan holdback relating to mortgage receivable	`PaymentsToAcquireMortgageNotesReceivable`	$15.00K	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$923.00	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$42.93K	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.34M	USD	1 Quarter
Proceeds from (repayment of) line of credit, net	`ProceedsFromRepaymentsOfLinesOfCredit`	$-204.99K	USD	1 Quarter
Proceeds from (repayment of) line of credit, net	`ProceedsFromRepaymentsOfLinesOfCredit`	$3.63M	USD	1 Quarter
Dividend paid	`PaymentsOfDividends`	$1.16M	USD	1 Quarter
Dividend paid	`PaymentsOfDividends`	$1.16M	USD	1 Quarter
Purchase of treasury shares	`PaymentsForRepurchaseOfOtherEquity`	$131.04K	USD	1 Quarter
Purchase of treasury shares	`PaymentsForRepurchaseOfOtherEquity`	$5.64K	USD	1 Quarter
Deferred financing costs incurred	`PaymentsOfFinancingCosts`	$27.10K	USD	1 Quarter
Deferred financing costs incurred	`PaymentsOfFinancingCosts`	-	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	-	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$20.44K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.35M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.31M	USD	1 Quarter
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-180.44K	USD	1 Quarter
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$94.16K	USD	1 Quarter
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$118.41K	USD	Point-in-time
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$212.56K	USD	Point-in-time
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$355.06K	USD	Point-in-time
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$174.62K	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$118.41K	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$212.56K	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$355.06K	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$174.62K	USD	Point-in-time
Interest paid during the period	`InterestPaidNet`	$328.87K	USD	1 Quarter
Interest paid during the period	`InterestPaidNet`	$370.62K	USD	1 Quarter
Operating leases paid during the period	`OperatingLeasesPaidDuringYear1`	$13.60K	USD	1 Quarter
Operating leases paid during the period	`OperatingLeasesPaidDuringYear1`	$12.43K	USD	1 Quarter
Establishment of right-of-use asset and operating lease liability	`EstablishmentOfRightofuseAssetAndOperatingLeaseLiability`	$135.27K	USD	1 Quarter
Establishment of right-of-use asset and operating lease liability	`EstablishmentOfRightofuseAssetAndOperatingLeaseLiability`	-	USD	1 Quarter

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$31.94M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$33.22M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$32.08M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$32.83M	USD	Point-in-time
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$20.44K	USD	1 Quarter
Non cash compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$3.27K	USD	1 Quarter
Non cash compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$3.27K	USD	1 Quarter
Purchase of treasury shares	`TreasuryStockValueAcquiredCostMethod`	$131.04K	USD	1 Quarter
Purchase of treasury shares	`TreasuryStockValueAcquiredCostMethod`	$5.64K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.12M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.02M	USD	1 Quarter
Ending balance	`StockholdersEquity`	$31.94M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$33.22M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$32.08M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$32.83M	USD	Point-in-time

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