BIMINI CAPITAL MANAGEMENT INC
For the period ended Dec 31, 2023. Filed Mar 8, 2024.
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FY2023 · Filed Mar 8, 2024
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Consolidated Balance Sheets
BIMINI CAPITAL MANAGEMENT, INC.
CONSOLIDATED BALANCE SHEETS
December 31, 2023 and 2022
| 2023 | 2022 | |
|---|---|---|
| ASSETS: | ||
| Mortgage-backed securities, at fair value | ||
| Pledged to counterparties | $92,575,292 | $45,716,793 |
| Unpledged | 155,560 | 176,643 |
| Total mortgage-backed securities | 92,730,852 | 45,893,436 |
| Cash and cash equivalents | 3,716,386 | 6,010,799 |
| Restricted cash | 753,900 | 763,000 |
| Investment in Orchid Island Capital, Inc. common stock, at fair value | 4,797,269 | 5,975,248 |
| Accrued interest receivable | 488,660 | 204,018 |
| Property and equipment, net | 1,920,823 | 1,997,313 |
| Deferred tax assets, net of allowances | 19,047,680 | 23,178,243 |
| Due from affiliates | 1,013,406 | 1,130,713 |
| Other assets | 1,129,038 | 1,164,181 |
| Total Assets | $125,598,014 | $86,316,951 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| LIABILITIES: | ||
| Repurchase agreements | $86,906,999 | $43,817,999 |
| Long-term debt | 27,394,417 | 27,416,239 |
| Accrued interest payable | 260,413 | 194,629 |
| Other liabilities | 2,908,444 | 2,764,005 |
| Total Liabilities | 117,470,273 | 74,192,872 |
| Commitments and Contingencies (Note 11) | ||
| STOCKHOLDERS' EQUITY: | ||
| Preferred stock, $0.001 par value; 10,000,000 shares authorized; 100,000 shares designated Series A Junior Preferred Stock, 9,900,000 shares undesignated; no shares issued and outstanding | - | - |
| Class A Common stock, $0.001 par value; 98,000,000 shares designated: 10,005,457 shares and 10,019,888 shares issued and outstanding, respectively | 10,005 | 10,020 |
| Class B Common stock, $0.001 par value; 1,000,000 shares designated, 31,938 shares issued and outstanding | 32 | 32 |
| Class C Common stock, $0.001 par value; 1,000,000 shares designated, 31,938 shares issued and outstanding | 32 | 32 |
| Additional paid-in capital | 329,815,150 | 329,828,268 |
| Accumulated deficit | (321,697,478) | (317,714,273) |
| Stockholders' Equity | 8,127,741 | 12,124,079 |
| Total Liabilities and Equity | $125,598,014 | $86,316,951 |
See Notes to Consolidated Financial Statements
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.