10-Q Filing

MANHATTAN BRIDGE CAPITAL, INC CIK: 1080340 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001493152-23-012914`
Period End Date	20230331
Filing Date	20230419
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	form10-q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 28 Cash Flow Statement 54 Stockholders Equity 14

Balance Sheet 67 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`	$228.38K	USD	Point-in-time
Loans receivable	`NotesAndLoansReceivableNetCurrent`	$71.95M	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`	$74.48M	USD	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`	$1.26M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash	`Cash`	$75.19K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash	`Cash`	$103.54K	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, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Other assets	`OtherAssets`	$98.95K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Operating lease right-of-use asset, net	`OperatingLeaseRightOfUseAsset`	$262.22K	USD	Point-in-time
Operating lease right-of-use asset, net	`OperatingLeaseRightOfUseAsset`	$248.51K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Deferred financing costs, net	`DeferredFinanceCostsGross`	$7.71K	USD	Point-in-time
Deferred financing costs, net	`DeferredFinanceCostsGross`	$37.13K	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
Total assets	`Assets`	$76.28M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	11.49M	shares	Point-in-time
Total assets	`Assets`	$73.67M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	11.49M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockCommonShares`	262,113.00	shares	Point-in-time
Treasury stock, shares	`TreasuryStockCommonShares`	262,113.00	shares	Point-in-time
Line of credit	`LineOfCredit`	$22.58M	USD	Point-in-time
Line of credit	`LineOfCredit`	$24.99M	USD	Point-in-time
Senior secured notes (net of deferred financing costs of $228,384 and $247,155, respectively)	`SecuredDebt`	$5.77M	USD	Point-in-time
Senior secured notes (net of deferred financing costs of $228,384 and $247,155, respectively)	`SecuredDebt`	$5.75M	USD	Point-in-time
Deferred origination fees	`DeferredOriginationFees`	$669.13K	USD	Point-in-time
Deferred origination fees	`DeferredOriginationFees`	$650.86K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$261.82K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$289.87K	USD	Point-in-time
Operating lease liability	`OperatingLeaseLiability`	$273.49K	USD	Point-in-time
Operating lease liability	`OperatingLeaseLiability`	$260.45K	USD	Point-in-time
Loan holdback	`LoanHoldbackRelatingToMortgageReceivableCurrentAndNoncurrent`	-	USD	Point-in-time
Loan holdback	`LoanHoldbackRelatingToMortgageReceivableCurrentAndNoncurrent`	$17.50K	USD	Point-in-time
Dividends payable	`DividendsPayableCurrentAndNoncurrent`	$1.44M	USD	Point-in-time
Dividends payable	`DividendsPayableCurrentAndNoncurrent`	$1.29M	USD	Point-in-time
Dividends payable	`DividendsPayableCurrentAndNoncurrent`	$1.29M	USD	Point-in-time
Total liabilities	`Liabilities`	$33.42M	USD	Point-in-time
Total liabilities	`Liabilities`	$30.84M	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`	$45.54M	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`	$-1.92M	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`	$42.83M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$43.38M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$42.86M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$73.67M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$76.28M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Interest income from loans	`InterestAndFeeIncomeLoansAndLeases`	$1.95M	USD	1 Quarter
Interest income from loans	`InterestAndFeeIncomeLoansAndLeases`	$1.64M	USD	1 Quarter
Origination fees	`OriginationFees`	$443.97K	USD	1 Quarter
Origination fees	`OriginationFees`	$471.27K	USD	1 Quarter
Total revenue	`Revenues`	$2.40M	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`	$646.26K	USD	1 Quarter
Referral fees	`ReferralFees`	$291.00	USD	1 Quarter
Referral fees	`ReferralFees`	$1.36K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$496.10K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$361.49K	USD	1 Quarter
Total operating costs and expenses	`OperatingCostsAndExpenses`	$1.14M	USD	1 Quarter
Total operating costs and expenses	`OperatingCostsAndExpenses`	$694.70K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.26M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.42M	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`	$1.26M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.11	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.12	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.11	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.12	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	11.49M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	11.49M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	11.49M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	11.49M	shares	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.42M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.26M	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfDeferredCharges`	$27.54K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfDeferredCharges`	$24.02K	USD	1 Quarter
Adjustment to operating lease right-of-use asset and liability	`AdjustmentToOperatingLeaseRightofuseAssetAndLiability`	$685.00	USD	1 Quarter
Adjustment to operating lease right-of-use asset and liability	`AdjustmentToOperatingLeaseRightofuseAssetAndLiability`	$1.22K	USD	1 Quarter
Depreciation	`Depreciation`	$469.00	USD	1 Quarter
Depreciation	`Depreciation`	$892.00	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`	$-104.45K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$35.19K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$27.28K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-5.96K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-28.04K	USD	1 Quarter
Deferred origination fees	`IncreaseDecreaseInDeferredCharges`	$18.27K	USD	1 Quarter
Deferred origination fees	`IncreaseDecreaseInDeferredCharges`	$-107.77K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.45M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.31M	USD	1 Quarter
Issuance of short term loans	`PaymentsToAcquireLoansReceivable`	$13.73M	USD	1 Quarter
Issuance of short term loans	`PaymentsToAcquireLoansReceivable`	$18.30M	USD	1 Quarter
Collections received from loans	`ProceedsFromCollectionOfLoansReceivable`	$15.57M	USD	1 Quarter
Collections received from loans	`ProceedsFromCollectionOfLoansReceivable`	$16.29M	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.08K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$2.55M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.72M	USD	1 Quarter
(Repayment of) proceeds from line of credit, net	`ProceedsFromRepaymentsOfLinesOfCredit`	$2.74M	USD	1 Quarter
(Repayment of) proceeds from line of credit, net	`ProceedsFromRepaymentsOfLinesOfCredit`	$-2.41M	USD	1 Quarter
Dividend paid	`PaymentsOfDividends`	$1.44M	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`	$38.19K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.27M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.89M	USD	1 Quarter
Net (decrease) increase in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$2.82K	USD	1 Quarter
Net (decrease) increase in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-28.35K	USD	1 Quarter
Cash, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$75.19K	USD	Point-in-time
Cash, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$145.37K	USD	Point-in-time
Cash, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$103.54K	USD	Point-in-time
Cash, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$142.55K	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$75.19K	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$145.37K	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$103.54K	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$142.55K	USD	Point-in-time
Interest paid during the period	`InterestPaidNet`	$277.76K	USD	1 Quarter
Interest paid during the period	`InterestPaidNet`	$636.99K	USD	1 Quarter
Operating leases paid during the period	`OperatingLeasesPaidDuringPeriod`	$15.92K	USD	1 Quarter
Operating leases paid during the period	`OperatingLeasesPaidDuringPeriod`	$15.88K	USD	1 Quarter
Dividend declared and payable	`DividendDeclaredAndPayable`	$1.29M	USD	1 Quarter
Dividend declared and payable	`DividendDeclaredAndPayable`	$1.44M	USD	1 Quarter
Loan holdback relating to mortgage receivable	`LoanHoldbackRelatingToMortgageReceivable`	-	USD	1 Quarter
Loan holdback relating to mortgage receivable	`LoanHoldbackRelatingToMortgageReceivable`	$17.50K	USD	1 Quarter

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$43.39M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$42.83M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$43.38M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$42.86M	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
Dividends declared and payable	`StockIssuedDuringPeriodValueStockDividend`	$1.29M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.42M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.26M	USD	1 Quarter
Ending balance, value	`StockholdersEquity`	$43.39M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$42.83M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$43.38M	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.