MANHATTAN BRIDGE CAPITAL, INC

Listed Company

LOANCIK 0001080340NasdaqNon-AcceleratedSmaller ReportingReal Estate Investment TrustsNew YorkFY ends Dec 31

Period

FY 2025

Revenue

$8.67M

Net Income

$5.11M

Total Assets

$62.35M

Equity

$43.10M

Shares Out

11.43M

Op. Cash Flow

$4.93M

Business

MANHATTAN BRIDGE CAPITAL, INC is a real estate finance company that originates, services and manages a portfolio of first mortgage loans. It offers short-term, secured non-bank (“hard money”) loans, typically with origination and extension fees, interest income and personal guarantees, and provides loan servicing and portfolio management. The company operates through integrated origination, underwriting and servicing functions performed by its internal management team and supported by external legal, appraisal and title professionals. It primarily lends in the New York metropolitan area (including New Jersey and Connecticut) and in Florida, sourcing transactions from repeat borrowers, real estate and mortgage brokers, and limited advertising.

Summary from filing dated 2025-03-12

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Interest income from loans	7	8	8	7	6
Origination fees	1	2	2	2	1
Total Revenue	9	10	10	9	7
Interest and amortization of deferred financing costs	2	2	3	2	1
Referral fees	3,257	1,847	2,153	4,500	7,532
General and administrative expenses	2	2	2	2	1
Total operating costs and expenses	4	4	4	3	2
Income from operations	5	6	5	5	4
Other income	18,000	18,000	33,880	18,000	—
Income before income tax expense	5	6	5	5	4
Income tax expense	−1,210	−650	−650	−650	−647
Net income	5	6	5	5	4
Basic (per share)	0.45	0.49	0.48	0.45	0.42
Diluted (per share)	0.45	0.49	0.48	0.45	0.42
Basic (shares)	11	11	11	11	11
Diluted (shares)	11	11	11	11	11

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2025 2025-10-31	FY 2024 2024-12-31	FY 2024 2024-11-30	FY 2023 2023-12-31
Loans receivable, net of deferred origination and other fees	60	—	65	—	73
Interest and other fees receivable on loans	2	—	2	—	1
Cash	204,889	—	178,012	—	104,222
Cash restricted	23,350	—	23,750	—	2
Other assets	60,742	—	62,080	—	63,636
Right-of-use asset operating lease, net	101,226	—	154,039	—	207,364
Deferred financing costs, net	98,858	—	16,171	—	27,583
Total assets	62	—	67	—	76
Lines of credit	18	—	16	—	25
Senior secured notes (net of deferred financing costs of $96,985)	—	—	6	—	6
Accounts payable and accrued expenses	173,247	—	232,236	—	295,292
Operating lease liability	112,076	—	167,119	—	220,527
Loan holdback	50,000	—	50,000	—	—
Dividends payable	1	1	1	1	1
Total liabilities	19	—	24	—	34
Preferred shares - $.01 par value; 5,000,000 shares authorized; none issued and outstanding	—	—	—	—	—
Common shares - $.001 par value; 25,000,000 shares authorized; 11,757,058 issued; 11,432,451 and 11,438,651 outstanding, respectively	11,757	—	11,757	—	11,757
Additional paid-in capital	46	—	46	—	46
Less: Treasury shares, at cost 324,607 and 318,407 shares, respectively	−1	—	−1	—	−1
Accumulated deficit	−1	—	−1	—	−2
Total stockholders equity	43	—	43	—	43
Total liabilities and stockholders equity	62	—	67	—	76

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Amortization of deferred financing costs	112,900	88,664	93,403	113,736	87,353
Depreciation	4,983	4,870	4,057	2,307	2,265
Non-cash compensation expense	13,065	13,065	13,065	13,065	13,065
Adjustment to right-of-use asset - operating lease and liability	−2,230	−84	1,900	—	—
Interest and other fees receivable on loans	−134,914	−552,755	−245,868	—	—
Other assets	−3,226	705	−3,042	5,742	−443
Accounts payable and accrued expenses	−58,989	−63,057	5,424	135,699	−14,771
Deferred origination fees	−113,500	−150,485	49,891	88,667	212,823
Net cash provided by operating activities	5	5	5	5	5
Issuance of short-term loans	−35	−42	−56	−61	−49
Collections received from loans	41	49	58	52	42
Purchase of fixed assets	−418	−4,018	−5,085	−2,871	—
Net cash provided by investing activities	5	8	2	−9	−8
Repayment of lines of credit	−47	−55	—	—	—
Proceeds from lines of credit	49	46	—	—	—
Repayment of senior secured notes	−6	—	—	—	—
Dividends paid	−5	−5	−5	−6	−5
Purchase of treasury shares	−28,558	−9,800	−261,667	—	—
Deferred financing costs incurred	−98,603	−2,167	−38,192	−35,819	—
Net cash used in financing activities	−10	−14	−5	4	3
Net increase (decrease) in cash and restricted cash	26,477	−1	2	−39,006	−316,591
Cash paid during the period for taxes	1,210	650	650	650	647
Cash paid during the period for interest	2	2	2	2	982,491
Cash paid during the period for operating leases	64,253	63,084	64,055	—	—
Supplemental Schedule of Noncash Financing Activities: Dividend declared and payable	1	1	1	1	1
Loan holdback relating to mortgage receivable	—	50,000	—	—	—
Reduction in interest receivable in connection with the increase in loans receivable	13,122	427,627	213,465	—	—

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