Manhattan Bridge Capital Inc

NASDAQ:LOANUnited States

Apr 23, 2024

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• -- Earnings Flash (LOAN) MANHATTAN BRIDGE CAPITAL Reports Q1 EPS $0.13, from 7:07AM ET on Tuesday Apr 23, 2024 by MT Newswires

  7:07AM ET on Tuesday Apr 23, 2024 by MT Newswires
  Companies Mentioned: LOAN
  07:07 AM EDT, 04/23/2024 (MT Newswires) -- ...

• -- Earnings Flash (LOAN) MANHATTAN BRIDGE CAPITAL Posts Q1 Revenue $2.6M, from 7:06AM ET on Tuesday Apr 23, 2024 by MT Newswires

  7:06AM ET on Tuesday Apr 23, 2024 by MT Newswires
  Companies Mentioned: LOAN
  07:06 AM EDT, 04/23/2024 (MT Newswires) -- ...

• Manhattan Bridge Capital, Inc. Reports First Quarter Results for 2024, from 7:05AM ET on Tuesday Apr 23, 2024 by GlobeNewswire

  7:05AM ET on Tuesday Apr 23, 2024 by GlobeNewswire
  Companies Mentioned: LOAN

• Manhattan Bridge Capital, Inc. Reports First Quarter Results for 2024, from 7:05AM ET on Tuesday Apr 23, 2024 by Dow Jones

  7:05AM ET on Tuesday Apr 23, 2024 by Dow Jones
  Companies Mentioned: LOAN
  2024 11,757,058 $11,757 $45,552,142 318,407 $(1,070,406) $(1,406,555) $43,086,938 ------------- ---------- -------- ----------- -------- ----------- ----------- ------------ FOR THE THREE MONTHS ENDED MARCH 31, 2023 ------------------------------------------------------------------------------------------------------ Additional Paid-in Accumulated Common Shares Capital Treasury Stock Deficit Totals ------------- -------------------- ----------- -------------------- ------------- --------------- Shares Amount Shares Cost ------------- ---------- -------- ----------- -------- ---------- ------------- --------------- Balance, January 1, 2023 11,757,058 $11,757 $45,535,811 262,113 $(798,939) $ (1,885,056) $ 42,863,573 ------------- ---------- -------- ----------- -------- --------- ------------ ------------ Non-cash compensation 3,266 3,266 ------------- ---------- -------- ----------- -------- ---------- ------------- ------------ Dividends declared and payable (1,293,181) (1,293,181) ------------- ---------- -------- ----------- -------- ---------- ------------ ------------ Net income ________ ________ ________ ________ ________ 1,259,642 1,259,642 ------------- ---------- -------- ----------- -------- ---------- ------------ ------------ Balance, March 31, 2023 11,757,058 $11,757 $45,539,077 262,113 $(798,939) $(1,918,595) $42,833,300 ------------- ---------- -------- ----------- -------- --------- ------------ ------------ MANHATTAN BRIDGE CAPITAL, INC. AND SUBSIDIARY CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) Three Months Ended March 31, ----------------------------- 2024 2023 Cash flows from operating activities: Net income $ 1,476,211 $ 1,259,642 Adjustments to reconcile net income to net cash provided by operating activities - Amortization of deferred financing costs 21,954 27,540 Adjustment to operating lease right-of-use asset and liability 121 685 Depreciation 1,055 892 Non-cash compensation expense 3,266 3,266 Changes in operating assets and liabilities: Interest receivable on loans (118,931) 104,455 Other assets (35,153) (35,189) Accounts payable and accrued expenses (31,600) (28,043) Deferred origination fees (63,996) (18,272) Net cash provided by operating activities 1,252,927 1,314,976 ---------- ----------- Cash flows from investing activities: Issuance of short-term loans (9,650,271) (13,734,803) Collections received from loans 10,102,525 16,285,581 Purchase of fixed assets --- (5,085) Net cash provided by investing activities 452,254 2,545,693 ---------- ----------- Cash flows from financing activities: Repayment of line of credit, net (1,701,661) (2,413,957) Dividend paid (1,287,073) (1,436,868) Purchase of treasury shares (9,800) --- Deferred financing costs incurred --- (38,192) Net cash used in financing activities (2,998,534) (3,889,017) ---------- ----------- Net decrease in cash (1,293,353) (28,348) Cash and cash - restricted, beginning of period 1,691,995 103,540 ---------- ----------- Cash and cash - restricted, end of period $ 398,642 $ 75,192 ========== =========== Supplemental Disclosure of Cash Flow Information Cash paid during the period for interest $ 667,488 $ 636,990 Cash paid during the period for operating leases $ 16,370 $ 15,917 ========= ========= Supplemental Schedule of Noncash Financing Activities: Dividend declared and payable $1,315,445 $1,293,181 ========= ========= Loan holdback relating to mortgage receivable $ --- $ 17,500 ========= ========= The components of cash and cash - restricted are as follows: Cash $ 87,097 $75,192 Cash - restricted $311,545 $ --- ======= ====== Contact: Assaf Ran, CEO Vanessa Kao, CFO (516) 444-3400 SOURCE: Manhattan Bridge Capital, Inc.
  

• *DJ Manhattan Bridge Capital 1Q EPS 13c >LOAN, from 7:05AM ET on Tuesday Apr 23, 2024 by Dow Jones

  7:05AM ET on Tuesday Apr 23, 2024 by Dow Jones
  Companies Mentioned: LOAN