MANHATTAN BRIDGE CAPITAL INC
For the period ended Dec 31, 2023. Filed Mar 11, 2024.
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FY2023 · Filed Mar 11, 2024
LOAN$3.37+0.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Balance Sheets at December 31, 2023 and 2022
MANHATTAN BRIDGE CAPITAL, INC. AND SUBSIDIARY
December 31, 2023 and 2022
| 2023 | 2022 | |
|---|---|---|
| Assets | ||
| Loans receivable | $73,048,403 | $74,483,463 |
| Interest receivable on loans | 1,395,905 | 1,363,502 |
| Cash | 104,222 | 103,540 |
| Cash - restricted | 1,587,773 | — |
| Other assets | 63,636 | 59,566 |
| Operating lease right-of-use asset, net | 207,364 | 262,222 |
| Deferred financing costs, net | 27,583 | 7,708 |
| Total assets | $76,434,886 | $76,280,001 |
| Liabilities and Stockholders’ Equity | ||
| Liabilities: | ||
| Line of credit | $25,152,338 | $24,994,234 |
| Senior secured notes (net of deferred financing costs of $172,069 and $247,155, respectively) | 5,827,931 | 5,752,845 |
| Deferred origination fees | 719,019 | 669,128 |
| Accounts payable and accrued expenses | 295,292 | 289,868 |
| Operating lease liability | 220,527 | 273,485 |
| Dividends payable | 1,287,073 | 1,436,868 |
| Total liabilities | 33,502,180 | 33,416,428 |
| Commitments and contingencies | - | - |
| Stockholders’ equity: | ||
| Preferred shares - $.01 par value; 5,000,000 shares authorized; none issued | — | — |
| Common shares - $.001 par value; 25,000,000 shares authorized; 11,757,058 issued; 11,440,651 and 11,494,945 outstanding, respectively | 11,757 | 11,757 |
| Additional paid-in capital | 45,548,876 | 45,535,811 |
| Less: Treasury stock, at cost – 316,407 and 262,113 shares | (1,060,606) | (798,939) |
| Accumulated deficit | (1,567,321) | (1,885,056) |
| Total stockholders’ equity | 42,932,706 | 42,863,573 |
| Total liabilities and stockholders’ equity | $76,434,886 | $76,280,001 |
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