BIMINI CAPITAL MANAGEMENT INC
For the period ended Dec 31, 2024. Filed Mar 7, 2025.
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FY2024 · Filed Mar 7, 2025
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Consolidated Balance Sheets
BIMINI CAPITAL MANAGEMENT, INC.
CONSOLIDATED BALANCE SHEETS
December 31, 2024 and 2023
| 2024 | 2023 | |
|---|---|---|
| ASSETS: | ||
| Mortgage-backed securities, at fair value | ||
| Pledged to counterparties | $122,093,172 | $92,575,292 |
| Unpledged | 254,998 | 155,560 |
| Total mortgage-backed securities | 122,348,170 | 92,730,852 |
| Cash and cash equivalents | 5,671,347 | 3,716,386 |
| Restricted cash | 1,751,399 | 753,900 |
| Investment in Orchid Island Capital, Inc. common stock, at fair value | 4,427,372 | 4,797,269 |
| Accrued interest receivable | 601,640 | 488,660 |
| Property and equipment, net | 1,845,014 | 1,920,823 |
| Deferred tax assets, net of allowances | 15,930,953 | 19,047,680 |
| Due from affiliates | 1,167,396 | 1,013,406 |
| Other assets | 1,110,366 | 1,129,038 |
| Total Assets | $154,853,657 | $125,598,014 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| LIABILITIES: | ||
| Repurchase agreements | $117,180,999 | $86,906,999 |
| Long-term debt | 27,368,158 | 27,394,417 |
| Accrued interest payable | 474,678 | 260,413 |
| Other liabilities | 3,008,415 | 2,908,444 |
| Total Liabilities | 148,032,250 | 117,470,273 |
| 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 issued and outstanding | 10,005 | 10,005 |
| 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 | 329,815,150 |
| Accumulated deficit | (323,003,812) | (321,697,478) |
| Stockholders' Equity | 6,821,407 | 8,127,741 |
| Total Liabilities and Equity | $154,853,657 | $125,598,014 |
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.