10-Q Filing

MANHATTAN BRIDGE CAPITAL, INC CIK: 1080340 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001493152-21-008694`
Period End Date	20210331
Filing Date	20210414
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	loan-20210331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 28 Cash Flow Statement 54 Stockholders Equity 13

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Senior secured notes, deferred financing costs	`DeferredFinanceCostsNet`	$397.33K	USD	Point-in-time
Senior secured notes, deferred financing costs	`DeferredFinanceCostsNet`	$378.56K	USD	Point-in-time
Loans receivable	`NotesReceivableNet`	$58.49M	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	`NotesReceivableNet`	$58.10M	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`	$915.13K	USD	Point-in-time
Interest receivable on loans	`InterestReceivable`	$827.24K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Cash	`Cash`	$131.65K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Cash	`Cash`	$205.83K	USD	Point-in-time
Cash - restricted	`RestrictedCash`	-	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash - restricted	`RestrictedCash`	$327.48K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Other assets	`OtherAssets`	$66.57K	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
Other assets	`OtherAssets`	$80.98K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.88M	shares	Point-in-time
Operating lease right-of-use asset, net	`OperatingLeaseRightOfUseAsset`	$356.54K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.88M	shares	Point-in-time
Operating lease right-of-use asset, net	`OperatingLeaseRightOfUseAsset`	$369.70K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.62M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.62M	shares	Point-in-time
Deferred financing costs, net	`DeferredFinanceCostsGross`	$22.81K	USD	Point-in-time
Deferred financing costs, net	`DeferredFinanceCostsGross`	$17.32K	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	262,113.00	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	262,113.00	shares	Point-in-time
Total assets	`Assets`	$59.84M	USD	Point-in-time
Total assets	`Assets`	$60.07M	USD	Point-in-time
Line of credit	`LineOfCredit`	$20.31M	USD	Point-in-time
Line of credit	`LineOfCredit`	$20.44M	USD	Point-in-time
Senior secured notes (net of deferred financing costs of $378,556 and $397,327, respectively)	`SecuredDebt`	$5.60M	USD	Point-in-time
Senior secured notes (net of deferred financing costs of $378,556 and $397,327, respectively)	`SecuredDebt`	$5.62M	USD	Point-in-time
Deferred origination fees	`DeferredOriginationFees`	$438.93K	USD	Point-in-time
Deferred origination fees	`DeferredOriginationFees`	$367.64K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$130.35K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$168.94K	USD	Point-in-time
Operating lease liability	`OperatingLeaseLiability`	$360.94K	USD	Point-in-time
Operating lease liability	`OperatingLeaseLiability`	$372.91K	USD	Point-in-time
Dividends payable	`DividendsPayableCurrentAndNoncurrent`	$1.06M	USD	Point-in-time
Dividends payable	`DividendsPayableCurrentAndNoncurrent`	-	USD	Point-in-time
Total liabilities	`Liabilities`	$26.99M	USD	Point-in-time
Total liabilities	`Liabilities`	$27.88M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock - $.01 par value; 5,000,000 shares authorized; none issued	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock - $.01 par value; 5,000,000 shares authorized; none issued	`PreferredStockValue`	-	USD	Point-in-time
Common stock - $.001 par value; 25,000,000 shares authorized; 9,882,058 issued; 9,619,945 outstanding	`CommonStockValue`	$9.88K	USD	Point-in-time
Common stock - $.001 par value; 25,000,000 shares authorized; 9,882,058 issued; 9,619,945 outstanding	`CommonStockValue`	$9.88K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$33.16M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$33.16M	USD	Point-in-time
Treasury stock, at cost - 262,113 shares	`TreasuryStockValue`	$798.94K	USD	Point-in-time
Treasury stock, at cost - 262,113 shares	`TreasuryStockValue`	$798.94K	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$702.02K	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$-403.85K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$33.07M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$31.94M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$31.96M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$32.83M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$59.84M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$60.07M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Interest income from loans	`InterestIncomeFromLoans`	$1.44M	USD	1 Quarter
Interest income from loans	`InterestIncomeFromLoans`	$1.47M	USD	1 Quarter
Origination fees	`OriginationFees`	$237.44K	USD	1 Quarter
Origination fees	`OriginationFees`	$286.47K	USD	1 Quarter
Total revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.73M	USD	1 Quarter
Total revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.71M	USD	1 Quarter
Interest and amortization of deferred financing costs	`InterestAndAmortizationOfDeferredFinancingCosts`	$317.19K	USD	1 Quarter
Interest and amortization of deferred financing costs	`InterestAndAmortizationOfDeferredFinancingCosts`	$352.44K	USD	1 Quarter
Referral fees	`ReferralFees`	$1.75K	USD	1 Quarter
Referral fees	`ReferralFees`	$542.00	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$344.78K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$308.98K	USD	1 Quarter
Total operating costs and expenses	`OperatingCostsAndExpenses`	$697.76K	USD	1 Quarter
Total operating costs and expenses	`OperatingCostsAndExpenses`	$627.92K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.10M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.01M	USD	1 Quarter
Other income	`OtherIncome`	$4.50K	USD	1 Quarter
Other income	`OtherIncome`	$3.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.11M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.02M	USD	1 Quarter
-Basic	`EarningsPerShareBasic`	$0.12	USD	1 Quarter
-Basic	`EarningsPerShareBasic`	$0.11	USD	1 Quarter
-Diluted	`EarningsPerShareDiluted`	$0.12	USD	1 Quarter
-Diluted	`EarningsPerShareDiluted`	$0.11	USD	1 Quarter
-Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	9.65M	shares	1 Quarter
-Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	9.62M	shares	1 Quarter
-Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	9.65M	shares	1 Quarter
-Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	9.62M	shares	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.11M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.02M	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$24.26K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$24.38K	USD	1 Quarter
Adjustment to operating lease right-of-use asset and liability	`AdjustmentToOperatingLeaseRightofuseAssetAndLiability`	$1.19K	USD	1 Quarter
Adjustment to operating lease right-of-use asset and liability	`AdjustmentToOperatingLeaseRightofuseAssetAndLiability`	$-261.00	USD	1 Quarter
Depreciation	`Depreciation`	$283.00	USD	1 Quarter
Depreciation	`Depreciation`	$587.00	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`	$87.90K	USD	1 Quarter
Interest receivable on loans	`IncreaseDecreaseInAccruedInterestReceivableNet`	$40.92K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$19.68K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$15.00K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$13.46K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-38.59K	USD	1 Quarter
Deferred origination fees	`IncreaseDecreaseInDeferredOriginationFees`	$-132.37K	USD	1 Quarter
Deferred origination fees	`IncreaseDecreaseInDeferredOriginationFees`	$-71.29K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.06M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.13M	USD	1 Quarter
Issuance of short term loans	`IssuanceOfShortTermLoans`	$-16.08M	USD	1 Quarter
Issuance of short term loans	`IssuanceOfShortTermLoans`	$-9.66M	USD	1 Quarter
Collections received from loans	`ProceedsFromCollectionOfLoansReceivable`	$12.75M	USD	1 Quarter
Collections received from loans	`ProceedsFromCollectionOfLoansReceivable`	$9.27M	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`	$923.00	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.34M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-392.27K	USD	1 Quarter
Proceeds from line of credit, net	`ProceedsFromLinesOfCredit`	$132.17K	USD	1 Quarter
Proceeds from line of credit, net	`ProceedsFromLinesOfCredit`	$3.63M	USD	1 Quarter
Dividend paid	`PaymentsOfDividends`	$1.16M	USD	1 Quarter
Dividend paid	`PaymentsOfDividends`	$1.06M	USD	1 Quarter
Purchase of treasury shares	`PaymentsForRepurchaseOfOtherEquity`	$131.04K	USD	1 Quarter
Purchase of treasury shares	`PaymentsForRepurchaseOfOtherEquity`	-	USD	1 Quarter
Deferred financing costs incurred	`PaymentsOfFinancingCosts`	$27.10K	USD	1 Quarter
Deferred financing costs incurred	`PaymentsOfFinancingCosts`	-	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.31M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-926.02K	USD	1 Quarter
Net (decrease) increase in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-253.30K	USD	1 Quarter
Net (decrease) increase in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$94.16K	USD	1 Quarter
Cash and restricted cash, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$459.14K	USD	Point-in-time
Cash and restricted cash, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$118.41K	USD	Point-in-time
Cash and restricted cash, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$205.83K	USD	Point-in-time
Cash and restricted cash, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$212.56K	USD	Point-in-time
Cash and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$459.14K	USD	Point-in-time
Cash and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$118.41K	USD	Point-in-time
Cash and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$205.83K	USD	Point-in-time
Cash and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$212.56K	USD	Point-in-time
Interest paid during the period	`InterestPaidNet`	$302.16K	USD	1 Quarter
Interest paid during the period	`InterestPaidNet`	$328.87K	USD	1 Quarter
Operating leases paid during the period	`OperatingLeasesPaidDuringPeriod`	$13.60K	USD	1 Quarter
Operating leases paid during the period	`OperatingLeasesPaidDuringPeriod`	$15.85K	USD	1 Quarter

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$33.07M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$31.94M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$31.96M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$32.83M	USD	Point-in-time
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
Net income	`NetIncomeLoss`	$1.11M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.02M	USD	1 Quarter
Ending balance	`StockholdersEquity`	$33.07M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$31.94M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$31.96M	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.