10-Q Filing

MANHATTAN BRIDGE CAPITAL, INC CIK: 1080340 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001493152-22-009877`
Period End Date	20220331
Filing Date	20220414
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	form10-q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 65 Income Statement 28 Cash Flow Statement 51 Stockholders Equity 13

Balance Sheet 65 line items

Line Item	Tag	Value	Unit	Period
Senior secured notes, deferred financing costs	`DeferredFinanceCostsNet`	$322.24K	USD	Point-in-time
Senior secured notes, deferred financing costs	`DeferredFinanceCostsNet`	$303.47K	USD	Point-in-time
Loans receivable	`NotesAndLoansReceivableNetCurrent`	$68.44M	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	`NotesAndLoansReceivableNetCurrent`	$65.72M	USD	Point-in-time
Interest receivable on loans	`InterestReceivable`	$955.44K	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`	$1.03M	USD	Point-in-time
Cash	`Cash`	$142.55K	USD	Point-in-time
Cash	`Cash`	$145.37K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Other assets	`OtherAssets`	$64.75K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Other assets	`OtherAssets`	$91.56K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Operating lease right-of-use asset, net	`OperatingLeaseRightOfUseAsset`	$317.08K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Operating lease right-of-use asset, net	`OperatingLeaseRightOfUseAsset`	$303.37K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	11.76M	shares	Point-in-time
Deferred financing costs, net	`DeferredFinanceCostsGross`	$10.54K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	11.76M	shares	Point-in-time
Deferred financing costs, net	`DeferredFinanceCostsGross`	$41.12K	USD	Point-in-time
Total assets	`Assets`	$67.21M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	11.49M	shares	Point-in-time
Total assets	`Assets`	$70.05M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	11.49M	shares	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
Line of credit	`LineOfCredit`	$15.65M	USD	Point-in-time
Line of credit	`LineOfCredit`	$18.39M	USD	Point-in-time
Senior secured notes (net of deferred financing costs of $303,470 and $322,241, respectively)	`SecuredDebt`	$5.70M	USD	Point-in-time
Senior secured notes (net of deferred financing costs of $303,470 and $322,241, respectively)	`SecuredDebt`	$5.68M	USD	Point-in-time
Deferred origination fees	`DeferredOriginationFees`	$688.23K	USD	Point-in-time
Deferred origination fees	`DeferredOriginationFees`	$580.46K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$148.21K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$154.17K	USD	Point-in-time
Operating lease liability	`OperatingLeaseLiability`	$324.25K	USD	Point-in-time
Operating lease liability	`OperatingLeaseLiability`	$311.76K	USD	Point-in-time
Dividends payable	`DividendsPayableCurrentAndNoncurrent`	$1.44M	USD	Point-in-time
Dividends payable	`DividendsPayableCurrentAndNoncurrent`	$1.44M	USD	Point-in-time
Dividends payable	`DividendsPayableCurrentAndNoncurrent`	$1.44M	USD	Point-in-time
Total liabilities	`Liabilities`	$23.82M	USD	Point-in-time
Total liabilities	`Liabilities`	$26.67M	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 shares - $.001 par value; 25,000,000 shares authorized; 11,757,058 issued; 11,494,945 outstanding	`CommonStockValue`	$11.76K	USD	Point-in-time
Common shares - $.001 par value; 25,000,000 shares authorized; 11,757,058 issued; 11,494,945 outstanding	`CommonStockValue`	$11.76K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$45.52M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$45.53M	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
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.35M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.36M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$43.39M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$31.96M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$43.38M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$33.07M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$70.05M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$67.21M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Interest income from loans	`InterestAndFeeIncomeLoansAndLeases`	$1.44M	USD	1 Quarter
Interest income from loans	`InterestAndFeeIncomeLoansAndLeases`	$1.64M	USD	1 Quarter
Origination fees	`OriginationFees`	$471.27K	USD	1 Quarter
Origination fees	`OriginationFees`	$286.47K	USD	1 Quarter
Total revenue	`Revenues`	$1.73M	USD	1 Quarter
Total revenue	`Revenues`	$2.12M	USD	1 Quarter
Interest and amortization of deferred financing costs	`InterestAndAmortizationOfDeferredFinancingCosts`	$331.85K	USD	1 Quarter
Interest and amortization of deferred financing costs	`InterestAndAmortizationOfDeferredFinancingCosts`	$317.19K	USD	1 Quarter
Referral fees	`ReferralFees`	$1.36K	USD	1 Quarter
Referral fees	`ReferralFees`	$1.75K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$361.49K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$308.98K	USD	1 Quarter
Total operating costs and expenses	`OperatingCostsAndExpenses`	$627.92K	USD	1 Quarter
Total operating costs and expenses	`OperatingCostsAndExpenses`	$694.70K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.42M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.10M	USD	1 Quarter
Other income	`NonoperatingIncomeExpense`	$4.50K	USD	1 Quarter
Other income	`NonoperatingIncomeExpense`	$4.50K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.42M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.11M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.12	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.12	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.12	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.12	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	9.62M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	11.49M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	11.49M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	9.62M	shares	1 Quarter

Cash Flow Statement 51 line items

Line Item	Tag	Value	Unit	Period
Restricted Cash	`RestrictedCash`	$327.48K	USD	Point-in-time
Net income	`NetIncomeLoss`	$1.42M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.11M	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfDeferredCharges`	$24.02K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfDeferredCharges`	$24.26K	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`	$1.22K	USD	1 Quarter
Depreciation	`Depreciation`	$587.00	USD	1 Quarter
Depreciation	`Depreciation`	$469.00	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`	$73.47K	USD	1 Quarter
Interest receivable on loans	`IncreaseDecreaseInAccruedInterestReceivableNet`	$87.90K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$15.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$27.28K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-38.59K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-5.96K	USD	1 Quarter
Deferred origination fees	`IncreaseDecreaseInDeferredCharges`	$-107.77K	USD	1 Quarter
Deferred origination fees	`IncreaseDecreaseInDeferredCharges`	$-71.29K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.06M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.45M	USD	1 Quarter
Issuance of short term loans	`PaymentsToAcquireLoansReceivable`	$18.30M	USD	1 Quarter
Issuance of short term loans	`PaymentsToAcquireLoansReceivable`	$9.66M	USD	1 Quarter
Collections received from loans	`ProceedsFromCollectionOfLoansReceivable`	$9.27M	USD	1 Quarter
Collections received from loans	`ProceedsFromCollectionOfLoansReceivable`	$15.57M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.72M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-392.27K	USD	1 Quarter
Proceeds from line of credit, net	`ProceedsFromLinesOfCredit`	$2.74M	USD	1 Quarter
Proceeds from line of credit, net	`ProceedsFromLinesOfCredit`	$132.17K	USD	1 Quarter
Dividend paid	`PaymentsOfDividends`	$1.06M	USD	1 Quarter
Dividend paid	`PaymentsOfDividends`	$1.44M	USD	1 Quarter
Deferred financing costs incurred	`PaymentsOfFinancingCosts`	$35.82K	USD	1 Quarter
Deferred financing costs incurred	`PaymentsOfFinancingCosts`	-	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-926.02K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.27M	USD	1 Quarter
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$2.82K	USD	1 Quarter
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-253.30K	USD	1 Quarter
Cash and restricted cash, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$205.83K	USD	Point-in-time
Cash and restricted cash, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$142.55K	USD	Point-in-time
Cash and restricted cash, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$459.14K	USD	Point-in-time
Cash and restricted cash, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$145.37K	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`	$142.55K	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`	$145.37K	USD	Point-in-time
Interest paid during the period	`InterestPaidNet`	$302.16K	USD	1 Quarter
Interest paid during the period	`InterestPaidNet`	$277.76K	USD	1 Quarter
Operating leases paid during the period	`OperatingLeasesPaidDuringPeriod`	$15.85K	USD	1 Quarter
Operating leases paid during the period	`OperatingLeasesPaidDuringPeriod`	$15.88K	USD	1 Quarter
Dividend declared and payable	`DividendDeclaredAndPayable`	-	USD	1 Quarter
Dividend declared and payable	`DividendDeclaredAndPayable`	$1.44M	USD	1 Quarter

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$43.39M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$31.96M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$43.38M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$33.07M	USD	Point-in-time
Non-cash compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$3.27K	USD	1 Quarter
Non-cash compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$3.27K	USD	1 Quarter
Dividends declared and payable	`StockIssuedDuringPeriodValueStockDividend`	$1.44M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.42M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.11M	USD	1 Quarter
Ending balance, value	`StockholdersEquity`	$43.39M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$31.96M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$43.38M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$33.07M	USD	Point-in-time

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