10-K Filing

MANHATTAN BRIDGE CAPITAL, INC CIK: 1080340 FY 2023

Filing Information

Form Type	10-K
Accession Number	`0001493152-24-009478`
Period End Date	20231231
Filing Date	20240311
Fiscal Year	2023
Fiscal Period	FY
XBRL Instance	form10-k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 32 Cash Flow Statement 55 Stockholders Equity 15

Balance Sheet 66 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`	$172.07K	USD	Point-in-time
Loans receivable	`NotesAndLoansReceivableNetCurrent`	$73.05M	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, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	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`	$1.40M	USD	Point-in-time
Interest receivable on loans	`InterestReceivable`	$1.36M	USD	Point-in-time
Cash	`Cash`	$103.54K	USD	Point-in-time
Cash	`Cash`	$104.22K	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
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash - restricted	`RestrictedCashCurrent`	$1.59M	USD	Point-in-time
Cash - restricted	`RestrictedCashCurrent`	-	USD	Point-in-time
Other assets	`OtherAssets`	$63.64K	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`	$59.57K	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
Operating lease right-of-use asset, net	`OperatingLeaseRightOfUseAsset`	$207.36K	USD	Point-in-time
Operating lease right-of-use asset, net	`OperatingLeaseRightOfUseAsset`	$262.22K	USD	Point-in-time
Deferred financing costs, net	`DeferredFinanceCostsGross`	$7.71K	USD	Point-in-time
Deferred financing costs, net	`DeferredFinanceCostsGross`	$27.58K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	11.49M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	11.44M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockCommonShares`	316,407.00	shares	Point-in-time
Treasury stock, shares	`TreasuryStockCommonShares`	262,113.00	shares	Point-in-time
Total assets	`Assets`	$76.43M	USD	Point-in-time
Total assets	`Assets`	$76.28M	USD	Point-in-time
Line of credit	`LineOfCredit`	$25.15M	USD	Point-in-time
Line of credit	`LineOfCredit`	$24.99M	USD	Point-in-time
Senior secured notes (net of deferred financing costs of $172,069 and $247,155, respectively)	`SecuredDebt`	$5.83M	USD	Point-in-time
Senior secured notes (net of deferred financing costs of $172,069 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`	$719.02K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$289.87K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$295.29K	USD	Point-in-time
Operating lease liability	`OperatingLeaseLiability`	$220.53K	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`	$1.29M	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`	$33.50M	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; 11,440,651 and 11,494,945 outstanding, respectively	`CommonStockValue`	$11.76K	USD	Point-in-time
Common shares - $.001 par value; 25,000,000 shares authorized; 11,757,058 issued; 11,440,651 and 11,494,945 outstanding, respectively	`CommonStockValue`	$11.76K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$45.55M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$45.54M	USD	Point-in-time
Less: Treasury stock, at cost 316,407 and 262,113 shares	`TreasuryStockValue`	$1.06M	USD	Point-in-time
Less: Treasury stock, at cost 316,407 and 262,113 shares	`TreasuryStockValue`	$798.94K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.89M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.57M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$42.93M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$42.86M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$43.39M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$76.28M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$76.43M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Interest income from loans	`InterestAndFeeIncomeLoansAndLeases`	$7.98M	USD	Annual
Interest income from loans	`InterestAndFeeIncomeLoansAndLeases`	$6.77M	USD	Annual
Origination fees	`OriginationFees`	$1.82M	USD	Annual
Origination fees	`OriginationFees`	$1.80M	USD	Annual
Total Revenue	`Revenues`	$8.57M	USD	Annual
Total Revenue	`Revenues`	$9.80M	USD	Annual
Interest and amortization of deferred financing costs	`InterestAndAmortizationOfDeferredFinancingCosts`	$2.53M	USD	Annual
Interest and amortization of deferred financing costs	`InterestAndAmortizationOfDeferredFinancingCosts`	$1.82M	USD	Annual
Referral fees	`ReferralFees`	$2.15K	USD	Annual
Referral fees	`ReferralFees`	$4.50K	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.55M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.83M	USD	Annual
Total operating costs and expenses	`OperatingCostsAndExpenses`	$3.38M	USD	Annual
Total operating costs and expenses	`OperatingCostsAndExpenses`	$4.35M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$5.19M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$5.44M	USD	Annual
Other income	`OtherNonoperatingIncome`	$33.88K	USD	Annual
Other income	`OtherNonoperatingIncome`	$18.00K	USD	Annual
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$5.21M	USD	Annual
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$5.48M	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$650.00	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$650.00	USD	Annual
Net income	`NetIncomeLoss`	$5.48M	USD	Annual
Net income	`NetIncomeLoss`	$5.21M	USD	Annual
Basic	`EarningsPerShareBasic`	$0.45	USD	Annual
Basic	`EarningsPerShareBasic`	$0.48	USD	Annual
Diluted	`EarningsPerShareDiluted`	$0.45	USD	Annual
Diluted	`EarningsPerShareDiluted`	$0.48	USD	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	11.47M	shares	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	11.49M	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	11.47M	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	11.49M	shares	Annual

Cash Flow Statement 55 line items

Line Item	Tag	Value	Unit	Period
Restricted cash	`RestrictedCash`	$1.59M	USD	Point-in-time
Net income	`NetIncomeLoss`	$5.48M	USD	Annual
Net income	`NetIncomeLoss`	$5.21M	USD	Annual
Amortization of deferred financing costs	`AmortizationOfDeferredCharges`	$93.40K	USD	Annual
Amortization of deferred financing costs	`AmortizationOfDeferredCharges`	$113.74K	USD	Annual
Depreciation	`Depreciation`	$2.31K	USD	Annual
Depreciation	`Depreciation`	$4.06K	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`	$1.90K	USD	Annual
Adjustment to operating lease right-of-use asset and liability	`AdjustmentToOperatingLeaseRightofuseAssetAndLiability`	$4.10K	USD	Annual
Interest receivable on loans	`IncreaseDecreaseInAccruedInterestReceivableNet`	$32.40K	USD	Annual
Interest receivable on loans	`IncreaseDecreaseInAccruedInterestReceivableNet`	$408.06K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$3.04K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-5.74K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$5.42K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$135.70K	USD	Annual
Deferred origination fees	`IncreaseDecreaseInDeferredCharges`	$-88.67K	USD	Annual
Deferred origination fees	`IncreaseDecreaseInDeferredCharges`	$-49.89K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$5.17M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$5.61M	USD	Annual
Issuance of short term loans	`PaymentsToAcquireLoansReceivable`	$56.30M	USD	Annual
Issuance of short term loans	`PaymentsToAcquireLoansReceivable`	$60.92M	USD	Annual
Collections received from loans	`ProceedsFromCollectionOfLoansReceivable`	$52.15M	USD	Annual
Collections received from loans	`ProceedsFromCollectionOfLoansReceivable`	$57.74M	USD	Annual
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.87K	USD	Annual
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.08K	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$1.43M	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-8.77M	USD	Annual
Proceeds from line of credit, net	`ProceedsFromRepaymentsOfLinesOfCredit`	$158.10K	USD	Annual
Proceeds from line of credit, net	`ProceedsFromRepaymentsOfLinesOfCredit`	$9.35M	USD	Annual
Dividends paid	`PaymentsOfDividends`	$5.75M	USD	Annual
Dividends paid	`PaymentsOfDividends`	$5.31M	USD	Annual
Purchase of treasury shares	`PaymentsForTreasuryShares`	$261.67K	USD	Annual
Purchase of treasury shares	`PaymentsForTreasuryShares`	-	USD	Annual
Deferred financing costs incurred	`PaymentsOfFinancingCosts`	$38.19K	USD	Annual
Deferred financing costs incurred	`PaymentsOfFinancingCosts`	$35.82K	USD	Annual
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-5.45M	USD	Annual
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.56M	USD	Annual
Net increase (decrease) in cash and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-39.01K	USD	Annual
Net increase (decrease) in cash and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.59M	USD	Annual
Cash, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$142.55K	USD	Point-in-time
Cash, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$103.54K	USD	Point-in-time
Cash, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.69M	USD	Point-in-time
Cash and restricted cash, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$142.55K	USD	Point-in-time
Cash and restricted cash, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$103.54K	USD	Point-in-time
Cash and restricted cash, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.69M	USD	Point-in-time
Cash paid for taxes during the year	`IncomeTaxesPaidNet`	$650.00	USD	Annual
Cash paid for taxes during the year	`IncomeTaxesPaidNet`	$650.00	USD	Annual
Cash paid for interest during the year	`InterestPaidNet`	$1.58M	USD	Annual
Cash paid for interest during the year	`InterestPaidNet`	$2.42M	USD	Annual
Cash paid for operating leases during the year	`OperatingLeasesPaidDuringPeriod`	$63.62K	USD	Annual
Cash paid for operating leases during the year	`OperatingLeasesPaidDuringPeriod`	$64.06K	USD	Annual
Dividend declared and payable	`DividendDeclaredAndPayable`	$1.29M	USD	Annual
Dividend declared and payable	`DividendDeclaredAndPayable`	$1.44M	USD	Annual

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$42.93M	USD	Point-in-time
Balance	`StockholdersEquity`	$42.86M	USD	Point-in-time
Balance	`StockholdersEquity`	$43.39M	USD	Point-in-time
Purchase of treasury shares	`StockPurchaseOfTreasurySharesValue`	$-261.67K	USD	Annual
Non-cash compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$13.06K	USD	Annual
Non-cash compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$13.06K	USD	Annual
Dividends paid	`DividendsCommonStock`	$4.31M	USD	Annual
Dividends paid	`DividendsCommonStock`	$3.87M	USD	Annual
Dividends declared and payable	`StockIssuedDuringPeriodValueStockDividend`	$1.29M	USD	Annual
Dividends declared and payable	`StockIssuedDuringPeriodValueStockDividend`	$1.44M	USD	Annual
Net income	`NetIncomeLoss`	$5.48M	USD	Annual
Net income	`NetIncomeLoss`	$5.21M	USD	Annual
Balance	`StockholdersEquity`	$42.93M	USD	Point-in-time
Balance	`StockholdersEquity`	$42.86M	USD	Point-in-time
Balance	`StockholdersEquity`	$43.39M	USD	Point-in-time

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