$LOAN
Manhattan Bridge Capital Inc

2015 Q4 Form 10-K Financial Statement

#000114420416086636 Filed on March 08, 2016

View on sec.gov

Income Statement

Concept 2015 Q4 2015 Q2 2015
Revenue $1.150M $912.0K $4.000M
YoY Change 27.78% 44.74% 37.93%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $340.0K $210.0K $1.040M
YoY Change 6.25% 16.67% 18.18%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $10.00K $0.00 $5.714K
YoY Change
% of Gross Profit
Operating Expenses $340.0K $210.0K $1.040M
YoY Change 6.25% 16.67% 18.18%
Operating Profit $545.4K
YoY Change 64.74%
Interest Expense -$200.0K -$150.0K -$690.0K
YoY Change 11.11% 25.0% 23.21%
% of Operating Profit -27.5%
Other Income/Expense, Net $0.00 $0.00 -$28.86K
YoY Change -100.0% -236.17%
Pretax Income $590.0K $530.4K $2.239M
YoY Change 47.5% 56.95% 51.06%
Income Tax $0.00 $0.00 $1.595K
% Of Pretax Income 0.0% 0.0% 0.07%
Net Earnings $590.0K $530.4K $2.238M
YoY Change 47.5% 26.0% 53.84%
Net Earnings / Revenue 51.3% 58.17% 55.94%
Basic Earnings Per Share $0.08 $0.33
Diluted Earnings Per Share $81.49K $0.08 $0.33
COMMON SHARES
Basic Shares Outstanding 7.231M shares 6.471M shares
Diluted Shares Outstanding 6.507M shares 6.787M shares

Balance Sheet

Concept 2015 Q4 2015 Q2 2015
SHORT-TERM ASSETS
Cash & Short-Term Investments $110.0K $50.00K $110.0K
YoY Change 120.0% -64.29% 120.0%
Cash & Equivalents $106.8K $45.36K $110.0K
Short-Term Investments
Other Short-Term Assets $32.87K $70.00K $30.00K
YoY Change 21.74% 40.0% 0.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $20.72M $15.27M $20.72M
YoY Change 6.66% 29.41% 6.64%
LONG-TERM ASSETS
Property, Plant & Equipment $8.771K $20.00K $10.00K
YoY Change -54.05% -50.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $50.00K $50.00K $50.00K
YoY Change -28.57% -76.19% -28.57%
Other Assets $170.0K $140.0K $170.0K
YoY Change -31.52% 325.0%
Total Long-Term Assets $10.94M $11.27M $10.94M
YoY Change 117.94% 90.05% 118.36%
TOTAL ASSETS
Total Short-Term Assets $20.72M $15.27M $20.72M
Total Long-Term Assets $10.94M $11.27M $10.94M
Total Assets $31.66M $26.54M $31.66M
YoY Change 29.5% 49.69% 29.54%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $100.0K $90.00K $100.0K
YoY Change -37.5% 80.0% -37.5%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $1.096M $1.100M $1.100M
YoY Change -55.63% -16.67% -55.47%
Long-Term Debt Due $11.82M $6.990M $11.82M
YoY Change 53.51% 5.91% 53.51%
Total Short-Term Liabilities $13.91M $8.350M $13.91M
YoY Change 31.53% 0.92% 31.47%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $13.91M $8.350M $13.91M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $13.91M $8.350M $13.91M
YoY Change 31.51% 0.97% 31.47%
SHAREHOLDERS EQUITY
Retained Earnings -$395.7K
YoY Change -449.11%
Common Stock $18.51M
YoY Change 31.05%
Preferred Stock
YoY Change
Treasury Stock (at cost) $369.3K
YoY Change 0.0%
Treasury Stock Shares 177.0K shares 177.0K shares
Shareholders Equity $17.74M $18.18M $17.74M
YoY Change
Total Liabilities & Shareholders Equity $31.66M $26.54M $31.66M
YoY Change 29.5% 49.69% 29.54%

Cashflow Statement

Concept 2015 Q4 2015 Q2 2015
OPERATING ACTIVITIES
Net Income $590.0K $530.4K $2.238M
YoY Change 47.5% 26.0% 53.84%
Depreciation, Depletion And Amortization $10.00K $0.00 $5.714K
YoY Change
Cash From Operating Activities $620.0K $480.0K $2.120M
YoY Change 24.0% 20.0% 65.63%
INVESTING ACTIVITIES
Capital Expenditures -$10.00K $0.00 $9.260K
YoY Change -50.0% -51.49%
Acquisitions
YoY Change
Other Investing Activities -$1.760M -$2.140M -$6.870M
YoY Change 100.0% 58.52% -25.24%
Cash From Investing Activities -$1.760M -$2.150M -$6.880M
YoY Change 95.56% 59.26% -25.3%
FINANCING ACTIVITIES
Cash Dividend Paid $2.129M
YoY Change 149.46%
Common Stock Issuance & Retirement, Net $4.240M $4.237M
YoY Change -1.2%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.190M 1.450M 4.820M
YoY Change 197.5% 34.26% -30.75%
NET CHANGE
Cash From Operating Activities 620.0K 480.0K 2.120M
Cash From Investing Activities -1.760M -2.150M -6.880M
Cash From Financing Activities 1.190M 1.450M 4.820M
Net Change In Cash 50.00K -220.0K 60.00K
YoY Change -85899345920001900.0% -269.23% -106.19%
FREE CASH FLOW
Cash From Operating Activities $620.0K $480.0K $2.120M
Capital Expenditures -$10.00K $0.00 $9.260K
Free Cash Flow $630.0K $480.0K $2.111M
YoY Change 21.15% 67.4%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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CY2015 us-gaap Use Of Estimates
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<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><i>Use of Estimates</i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px 0pt 45pt; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Management will base the use of estimates on (a) a preset number of assumptions that consider past experience, (b) future projections, and (c) general financial market condition. Actual amounts could differ from those estimates.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2015 us-gaap Concentration Risk Credit Risk
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WeightedAverageNumberDilutedSharesOutstandingAdjustment
29776 shares
CY2015Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 USD
CY2015 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
77778 shares
CY2014 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
51224 shares
CY2015 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
42000 USD
CY2014 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
42000 USD
CY2011 loan Operating Lease Term Of Lease
OperatingLeaseTermOfLease
five years and two months
CY2014Q4 us-gaap Loans And Leases Receivable Gross Carrying Amount Commercial
LoansAndLeasesReceivableGrossCarryingAmountCommercial
24032476 USD
CY2014Q4 loan Jointly Funded Loans Total
JointlyFundedLoansTotal
5105000 USD
CY2014Q4 loan Jointly Funded Loans
JointlyFundedLoans
2665000 USD
CY2015 us-gaap Impaired Assets To Be Disposed Of By Method Other Than Sale Amount Of Impairment Loss
ImpairedAssetsToBeDisposedOfByMethodOtherThanSaleAmountOfImpairmentLoss
13863 USD
CY2015Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
35000 shares
CY2015Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
1.92
CY2015 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P2Y4M6D
CY2015Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
35000 shares
CY2015Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
1.92
CY2015 loan Sharebased Compensation Arrangement By Sharebased Payment Award Award Vesting Rights For Employee And Nonemployee Directors
SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsForEmployeeAndNonemployeeDirectors
Historically, until the year ended December 31, 2014, each non-employee director of the Company was granted an option for 7,000 common shares upon first taking office, andreceived an annual option grant for an additional 7,000 common shares for each additional year in office. Generally, options outstanding vest over periods not exceeding four years and are exercisable for up to five years from the grant date.
CY2011Q3 loan Fair Value Of Restricted Shares Amortization Period
FairValueOfRestrictedSharesAmortizationPeriod
P15Y
CY2014 us-gaap Impaired Assets To Be Disposed Of By Method Other Than Sale Amount Of Impairment Loss
ImpairedAssetsToBeDisposedOfByMethodOtherThanSaleAmountOfImpairmentLoss
0 USD
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised
17550 shares
CY2015Q2 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
4240000 USD
CY2014Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
177000 shares
CY2015Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
1095620 USD
CY2015Q4 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.12 pure
CY2014 us-gaap Repayments Of Debt
RepaymentsOfDebt
1000000 USD
CY2014Q4 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.12 pure
CY2014Q3 us-gaap Stock And Warrants Issued During Period Value Preferred Stock And Warrants
StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants
42224 USD
CY2014Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
2469465 USD
CY2015Q4 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
11821099 USD
CY2014Q4 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
7700000 USD
CY2011Q3 loan Fair Value Of Restricted Shares Granted
FairValueOfRestrictedSharesGranted
195968 USD
CY2015 loan Short Term Loans Receivable Limitation On Face Amount Description
ShortTermLoansReceivableLimitationOnFaceAmountDescription
the lower of (i) 9.9% of the aggregate amount of our loan portfolio (not including the loan under consideration) and (ii) $1.5 million.
CY2015Q2 loan Proceeds From Issuance Of Common Stock Gross
ProceedsFromIssuanceOfCommonStockGross
4920000 USD
CY2015Q2 us-gaap Stock And Warrants Issued During Period Value Preferred Stock And Warrants
StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants
54928 USD

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