10-K Filing

MANHATTAN BRIDGE CAPITAL, INC CIK: 1080340 FY 2022

Filing Information

Form Type	10-K
Accession Number	`0001493152-23-007249`
Period End Date	20221231
Filing Date	20230310
Fiscal Year	2022
Fiscal Period	FY
XBRL Instance	form10-k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 63 Income Statement 32 Cash Flow Statement 55 Stockholders Equity 15

Balance Sheet 63 line items

Line Item	Tag	Value	Unit	Period
Senior secured notes, deferred financing costs	`DeferredFinanceCostsNet`	$247.16K	USD	Point-in-time
Senior secured notes, deferred financing costs	`DeferredFinanceCostsNet`	$322.24K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Loans receivable	`NotesAndLoansReceivableNetCurrent`	$65.72M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Loans receivable	`NotesAndLoansReceivableNetCurrent`	$74.48M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Interest receivable on loans	`InterestReceivable`	$1.36M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Interest receivable on loans	`InterestReceivable`	$955.44K	USD	Point-in-time
Cash	`Cash`	$103.54K	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
Cash	`Cash`	$142.55K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	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`	$59.57K	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
Operating lease right-of-use asset, net	`OperatingLeaseRightOfUseAsset`	$317.08K	USD	Point-in-time
Operating lease right-of-use asset, net	`OperatingLeaseRightOfUseAsset`	$262.22K	USD	Point-in-time
Deferred financing costs, net	`DeferredFinanceCostsGross`	$10.54K	USD	Point-in-time
Deferred financing costs, net	`DeferredFinanceCostsGross`	$7.71K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	11.76M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	11.76M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	11.49M	shares	Point-in-time
Total assets	`Assets`	$67.21M	USD	Point-in-time
Total assets	`Assets`	$76.28M	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`	$24.99M	USD	Point-in-time
Senior secured notes (net of deferred financing costs of $247,155 and $322,241, respectively)	`SecuredDebt`	$5.68M	USD	Point-in-time
Senior secured notes (net of deferred financing costs of $247,155 and $322,241, respectively)	`SecuredDebt`	$5.75M	USD	Point-in-time
Deferred origination fees	`DeferredOriginationFees`	$669.13K	USD	Point-in-time
Deferred origination fees	`DeferredOriginationFees`	$580.46K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$154.17K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$289.87K	USD	Point-in-time
Operating lease liability	`OperatingLeaseLiability`	$324.25K	USD	Point-in-time
Operating lease liability	`OperatingLeaseLiability`	$273.49K	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`	$33.42M	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; 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`	$45.54M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$45.52M	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`	$-1.89M	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`	$42.86M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$67.21M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$76.28M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Interest income from loans	`InterestAndFeeIncomeLoansAndLeases`	$5.61M	USD	Annual
Interest income from loans	`InterestAndFeeIncomeLoansAndLeases`	$6.77M	USD	Annual
Origination fees	`OriginationFees`	$1.20M	USD	Annual
Origination fees	`OriginationFees`	$1.80M	USD	Annual
Total Revenue	`Revenues`	$6.81M	USD	Annual
Total Revenue	`Revenues`	$8.57M	USD	Annual
Interest and amortization of deferred financing costs	`InterestAndAmortizationOfDeferredFinancingCosts`	$1.05M	USD	Annual
Interest and amortization of deferred financing costs	`InterestAndAmortizationOfDeferredFinancingCosts`	$1.82M	USD	Annual
Referral fees	`ReferralFees`	$7.53K	USD	Annual
Referral fees	`ReferralFees`	$4.50K	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.55M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.35M	USD	Annual
Total operating costs and expenses	`OperatingCostsAndExpenses`	$3.38M	USD	Annual
Total operating costs and expenses	`OperatingCostsAndExpenses`	$2.40M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$5.19M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$4.41M	USD	Annual
Other income	`NonoperatingIncomeExpense`	$18.00K	USD	Annual
Other income	`NonoperatingIncomeExpense`	$18.00K	USD	Annual
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$5.21M	USD	Annual
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$4.42M	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$650.00	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$647.00	USD	Annual
Net income	`NetIncomeLoss`	$4.42M	USD	Annual
Net income	`NetIncomeLoss`	$5.21M	USD	Annual
Basic	`EarningsPerShareBasic`	$0.42	USD	Annual
Basic	`EarningsPerShareBasic`	$0.45	USD	Annual
Diluted	`EarningsPerShareDiluted`	$0.45	USD	Annual
Diluted	`EarningsPerShareDiluted`	$0.42	USD	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	10.52M	shares	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	11.49M	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	10.52M	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	11.49M	shares	Annual

Cash Flow Statement 55 line items

Line Item	Tag	Value	Unit	Period
Restricted cash	`RestrictedCash`	$327.48K	USD	Point-in-time
Net income	`NetIncomeLoss`	$4.42M	USD	Annual
Net income	`NetIncomeLoss`	$5.21M	USD	Annual
Amortization of deferred financing costs	`AmortizationOfDeferredCharges`	$87.35K	USD	Annual
Amortization of deferred financing costs	`AmortizationOfDeferredCharges`	$113.74K	USD	Annual
Depreciation	`Depreciation`	$2.31K	USD	Annual
Depreciation	`Depreciation`	$2.27K	USD	Annual
Non cash compensation expense	`ShareBasedCompensation`	$13.06K	USD	Annual
Non cash compensation expense	`ShareBasedCompensation`	$13.06K	USD	Annual
Adjustment to operating lease right-of-use asset and liability	`AdjustmentToOperatingLeaseRightofuseAssetAndLiability`	$3.96K	USD	Annual
Adjustment to operating lease right-of-use asset and liability	`AdjustmentToOperatingLeaseRightofuseAssetAndLiability`	$4.10K	USD	Annual
Interest receivable on loans	`IncreaseDecreaseInAccruedInterestReceivableNet`	$128.21K	USD	Annual
Interest receivable on loans	`IncreaseDecreaseInAccruedInterestReceivableNet`	$408.06K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$443.00	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-5.74K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-14.77K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$135.70K	USD	Annual
Deferred origination fees	`IncreaseDecreaseInDeferredCharges`	$-212.82K	USD	Annual
Deferred origination fees	`IncreaseDecreaseInDeferredCharges`	$-88.67K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$5.17M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$4.60M	USD	Annual
Issuance of short term loans	`PaymentsToAcquireLoansReceivable`	$49.27M	USD	Annual
Issuance of short term loans	`PaymentsToAcquireLoansReceivable`	$60.92M	USD	Annual
Collections received from loans	`ProceedsFromCollectionOfLoansReceivable`	$41.65M	USD	Annual
Collections received from loans	`ProceedsFromCollectionOfLoansReceivable`	$52.15M	USD	Annual
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	Annual
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.87K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-8.77M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.62M	USD	Annual
Proceeds from public offering, net	`ProceedsFromIssuanceInitialPublicOffering`	-	USD	Annual
Proceeds from public offering, net	`ProceedsFromIssuanceInitialPublicOffering`	$12.35M	USD	Annual
Proceeds from (repayment of) line of credit, net	`ProceedsFromRepaymentsOfLinesOfCredit`	$9.35M	USD	Annual
Proceeds from (repayment of) line of credit, net	`ProceedsFromRepaymentsOfLinesOfCredit`	$-4.66M	USD	Annual
Dividends paid	`PaymentsOfDividends`	$4.99M	USD	Annual
Dividends paid	`PaymentsOfDividends`	$5.75M	USD	Annual
Deferred financing costs incurred	`PaymentsOfFinancingCosts`	-	USD	Annual
Deferred financing costs incurred	`PaymentsOfFinancingCosts`	$35.82K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.56M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.70M	USD	Annual
Net decrease in cash and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-39.01K	USD	Annual
Net decrease in cash and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-316.59K	USD	Annual
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`	$103.54K	USD	Point-in-time
Cash, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$142.55K	USD	Point-in-time
Cash, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$459.14K	USD	Point-in-time
Cash, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$103.54K	USD	Point-in-time
Taxes paid during the year	`IncomeTaxesPaidNet`	$647.00	USD	Annual
Taxes paid during the year	`IncomeTaxesPaidNet`	$650.00	USD	Annual
Interest paid during the year	`InterestPaidNet`	$1.58M	USD	Annual
Interest paid during the year	`InterestPaidNet`	$982.49K	USD	Annual
Operating leases paid during the year	`OperatingLeasesPaidDuringPeriod`	$63.62K	USD	Annual
Operating leases paid during the year	`OperatingLeasesPaidDuringPeriod`	$63.48K	USD	Annual
Dividend declared and payable	`DividendDeclaredAndPayable`	$1.44M	USD	Annual
Dividend declared and payable	`DividendDeclaredAndPayable`	$1.44M	USD	Annual

Stockholders Equity 15 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`	$42.86M	USD	Point-in-time
Public offering, net	`StockIssuedDuringPeriodValueNewIssues`	$12.35M	USD	Annual
Non cash compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$13.06K	USD	Annual
Non cash compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$13.06K	USD	Annual
Dividends paid	`DividendsCommonStock`	$3.93M	USD	Annual
Dividends paid	`DividendsCommonStock`	$4.31M	USD	Annual
Dividends declared and payable	`StockIssuedDuringPeriodValueStockDividend`	$1.44M	USD	Annual
Dividends declared and payable	`StockIssuedDuringPeriodValueStockDividend`	$1.44M	USD	Annual
Net income	`NetIncomeLoss`	$4.42M	USD	Annual
Net income	`NetIncomeLoss`	$5.21M	USD	Annual
Ending balance, value	`StockholdersEquity`	$43.39M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$31.96M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$42.86M	USD	Point-in-time

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