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$6.74 now...what a weird ass fucking company lol. Also I have been buying Ether on Coinbase, look into it if your into super high risk with potentially sky high reward.
Good job.. Atleast you take the profit.. That is all matter.
Cheer
IMO
I hope I do not regret it, but yesterday and today I sold all my LOAN stock. Between 6.21 and 6.25
SA 2015: "Don't Get 'Sharked' By Manhattan Bridge Capital"
Especially read the many excellent comments at the end of the article pro and con LOAN:
http://seekingalpha.com/article/2812495-dont-get-sharked-by-manhattan-bridge-capital
Microscopic company: 100 Loans, according to one SA article, is nothing. I don't see what LOAN offers that just about any other lender can't match or beat except closing speed which won't look like an advantage in a real estate crash. Four-employee business with all loans in NYC area is about the ultimate in NON-diversification.
IMO, the 6%-7% yield is WAY too low for the risk.
"Manhattan Bridge Capital (NASDAQ:LOAN) is a "hard money" lender that operates in the New York metro area. The company provides short term secured financing to real estate investors through short-term loans with conservative loan to value ratios. The typical loan is anywhere from $50k to $1.5M. The loan is secured by a senior mortgage, which the company uses as collateral. The company is currently managing approximately 100 loans."
http://seekingalpha.com/article/3989165-manhattan-bridge-capital-deal
PNS, still going on strong. Looks like a gem, isn't it? I hope you got some. Enjoy the ride. GLTY
Boom up $6.28
Is LOAN a popular stock in Israel where you are?
10K: 4 Employees
"As of December 31, 2015, we employed four full-time employees."
This is a very tiny company and totally focused on one type of loan and just in NYC.
Worrisome there's little institutional ownership, virtually all is by index funds. I'm looking for facts on this REIT not cheerleading which I see everywhere.
Hmmm: "We currently satisfy all of the requirements to be taxed as a REIT and elected to be taxed as a REIT commencing with our taxable year ended December 31, 2014. As a REIT, we are required to distribute at least 90% of our taxable income to our shareholders on an annual basis."
So they retain almost no profits in the business. Why isn't anyone mentioning that?
LOAN looks way too small to be a good investment. Furthermore their very simple business can be copied by any company, even by individuals.
I want to skim their SEC filings when I get some time.
Holding like theres no tomorrow!
IMO
Along with increasing my position in GAIN I will increase my position in LOAN....again!
Look tooo (bleep) GOOD!! Boom!
I like to hear The Sound Of Money! Lol. GLTY
PS: Impressive stock as to price history in the past 5 years.
Yeah that's what I ended up doing.
I dont know lol buy more?. Im still holding since few years.. Good pay dividend.
IMO
So...now what?
LOAN is on a tear today! New High on almost triple its normal volume.
LOAN / MONEY AVAILABLE TO LEND AT RODRIGO SANTANA FINANCIAL INVESTMENT COMPANY.
The opportunity is here for you to get what you have been looking for, the development and growth of the economy depends on investment and all business/startup needs funding to expand. It is time to move forward and establish. Rodrigo Santana Financial Investment Company is out to help investors, entrepreneur, individuals and companies get the funding they need to establish. We invest on properties/business and also offer Start-up loans, Property/Business loans, Investment loans, Agricultural Loan, Rehab/Expansion loans, Personal loans, Educational Loans, Real estate loans, Fix/Flip Loans, JV Capital/ Construction loans, Mobile home loan, Debt free loans, Equity/Refinance loans e.t.c to interested persons from any country with any credit rate. Have you been turned down by banks or lenders, Rodrigo Santana company is here to assist you archive your goal. If you are interested in a loan or need investor, do contact us through this email address and we are here to help you get what you need.
rodrigosantanaintl@gmail.com
Theres more to come.. Yuppiee!!
IMO
I don't know. All I know is I used to buy a lot of pinkies and lost a bundle over the years on them. A couple of years ago, I started buying stocks at $10.00 or below that pay dividends and I'm in the green on almost all but 2 of them, but the dividends are coming in like clockwork. I use Scottrade and use their DRIP to buy more stocks with no commission charge with the dividends. They call it "Flexible Reinvestment" and it's paying off in spades. Should have done this years ago. Sure wish I had the pinkie money I lost to invest in these dividend stocks. LOAN has been one of the good ones for me.
Cup and Handle breakout?
IMO
Nice! Let's get this to $5 and beyond.
http://finance.yahoo.com/news/manhattan-bridge-capital-inc-reports-111500712.html
Manhattan Bridge Capital, Inc. Reports Third Quarter Results
49.0% Increase in Net Income
LONG ISLAND, N.Y., Oct. 29, 2015 (GLOBE NEWSWIRE) -- Manhattan Bridge Capital, Inc. (LOAN)
Manhattan Bridge Capital, Inc. announced today that total revenues for the three month period ended September 30, 2015 were approximately $1,032,000 compared to approximately $766,000 for the three month period ended September 30, 2014, an increase of $266,000, or 34.7%. The increase in revenue represents an increase in lending operations. For the three month periods ended September 30, 2015 and 2014, approximately $871,000 and $632,000, respectively, of our revenues were attributable to interest income on the secured commercial loans that we offer to small businesses, and approximately $160,000 and $134,000, respectively, of our revenues were attributable to origination fees on such loans.
Net income for the three month period ended September 30, 2015 was approximately $639,000 or $0.09 per share, versus net income of approximately $429,000 or $0.08 per for the three month period ended September 30, 2014, an increase of $210,000 or 49.0%. This increase in net income was mainly due to an increase in operating income as a result of increased lending activity.
Total revenues for the nine month period ended September 30, 2015 were approximately $2,855,000 compared to approximately $2,005,000 for the nine month period ended September 30, 2014, an increase of $850,000, or 42.4%. The increase in revenue represents an increase in lending operations. For the nine month periods ended September 30, 2015 and 2014, revenues of approximately $2,392,000 and $1,657,000, respectively, were attributable to interest income on the secured commercial loans that we offer to small businesses, and approximately $463,000 and $348,000, respectively, were attributable to origination fees on such loans.
Net income for the nine month period ended September 30, 2015 was approximately $1,645,000 or $0.25 per basic and diluted share, versus net income of approximately $1,058,000 or $0.23 per basic share and $0.22 per diluted share for the same period in 2014, an increase of $587,000 or 55.5%. This increase in net income was mainly due to an increase in operating income as a result of increased lending activity.
As of September 30, 2015 total shareholders' equity was approximately $18,241,000 compared to approximately $18,184,000 as of June 30, 2015 and approximately 13,866,000 as of December 31, 2014.
We currently satisfy all of the requirements to be taxed as a REIT and elected to be taxed as a REIT commencing with our taxable year ended December 31, 2014. As a REIT, we are required to distribute at least 90% of our taxable income to our shareholders on an annual basis.
Assaf Ran, Chairman of the Board and CEO stated, “During the third quarter we have managed to responsibly continue our constant growth in accordance with our expectations. The numbers speak for themselves, as our plan works. The goal is to continue underwriting good loans to good borrowers while maintaining a safe equity to leverage ratio," added Mr. Ran.
About Manhattan Bridge Capital, Inc.
Manhattan Bridge Capital, Inc. offers short-term secured, non–banking loans (sometimes referred to as ‘‘hard money’’ loans) to real estate investors to fund their acquisition, renovation, rehabilitation or improvement of properties located in the New York metropolitan area. We operate the web site: http://www.manhattanbridgecapital.com
This report contains forward-looking statements within the meaning of section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements are typically identified by the words “believe,” “expect,” “intend,” “estimate” and similar expressions. Those statements appear in a number of places in this report and include statements regarding our intent, belief or current expectations or those of our directors or officers with respect to, among other things, trends affecting our financial condition and results of operations and our business and growth strategies. These forward-looking statements are not guarantees of future performance and involve risks and uncertainties. Actual results may differ materially from those projected, expressed or implied in the forward-looking statements as a result of various factors (such factors are referred to herein as “Cautionary Statements”), including but not limited to the following: (i)we may not qualify as a REIT; (ii) we have no operating history as a REIT;(iii) our loan origination activities, revenues and profits are limited by available funds (iv)we operate in a highly competitive market and competition may limit our ability to originate loans with favorable interest rates; (v) our chief executive officer is critical to our business and our future success may depend on our ability to retain him; (vi) if we overestimate the yields on our loans or incorrectly value the collateral securing the loan, we may experience losses; (vii) we may be subject to “lender liability” claims; (viii) our loan portfolio is illiquid; (ix) our due diligence may not uncover all of a borrower’s liabilities or other risks to its business; (x) borrower concentration could lead to significant losses; (xi) our management has no experience managing a REIT; and (xii) we may choose to make distributions in our own stock, in which case you may be required to pay income taxes in excess of the cash dividends you receive. The accompanying information contained in this report, including the information set forth under “Management’s Discussion and Analysis of Financial Condition and Results of Operations”, identifies important factors that could cause such differences. These forward-looking statements speak only as of the date of this report, and we caution potential investors not to place undue reliance on such statements. We undertake no obligation to update or revise any forward-looking statements. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the Cautionary Statements.
MANHATTAN BRIDGE CAPITAL, INC. AND SUBSIDIARY
CONSOLIDATED BALANCE SHEETS
September 30, 2015
December 31, 2014
Assets (unaudited) (audited)
Current assets:
Cash and cash equivalents $
61,144 $ 47,676
Short term loans receivable 15,633,990 19,138,426
Interest receivable on loans 322,582 213,766
Other current assets 54,370 26,995
Total current assets 16,072,086 19,426,863
Long term loans receivable 13,510,050 4,894,050
Property and equipment, net 17,636 19,088
Security deposit 6,816 6,816
Investment in privately held company 50,000 65,000
Deferred financing costs 116,399 32,500
Total assets $ 29,772,987 $ 24,444,317
Liabilities and Stockholders’ Equity
Current liabilities:
Short term loans $ 1,095,620 $ 2,469,465
Line of credit 10,098,083 7,700,000
Accounts payable and accrued expenses 89,591 163,622
Deferred origination fees 249,135 244,776
Total liabilities, all current 11,532,429 10,577,863
Commitments and contingencies
Stockholders’ equity:
Preferred shares - $.01 par value; 5,000,000 shares authorized; no shares issued --- ---
Common shares - $.001 par value; 25,000,000 authorized; 7,401,489 and 6,260,689 issued; 7,224,489 and 6,083,689 outstanding 7,401 6,260
Additional paid-in capital 18,395,326 14,116,183
Treasury stock, at cost – 177,000 (369,335 ) (369,335 )
Retained earnings 207,166 113,346
Total stockholders’ equity 18,240,558 13,866,454
Total liabilities and stockholders’ equity $ 29,772,987 $ 24,444,317
MANHATTAN BRIDGE CAPITAL, INC. AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited)
Three Months
Ended September 30, Nine Months
Ended September 30,
2015 2014 2015 2014
Interest income from loans $ 871,250 $ 631,640 $ 2,392,329 $ 1,657,076
Origination fees 160,456 134,080 463,092 347,637
Total Revenue 1,031,706 765,720 2,855,421 2,004,713
Operating costs and expenses:
Interest and amortization of debt service costs 159,875 144,392 493,652 383,721
Referral fees 948 665 3,260 1,049
General and administrative expenses 229,873 202,822 696,464 554,631
Total operating costs and expenses 390,696 347,879 1,193,376 939,401
Income from operations 641,010 417,841 1,662,045 1,065,312
Other income --- 6,887 --- 20,661
Loss on write-down of investment in privately held company --- --- (15,000 ) ---
Income before income tax (expense) benefit 641,010 424,728 1,647,045 1,085,973
Income tax (expense) benefit (2,005 ) 4,291 (2,005 ) (27,709 )
Net Income $ 639,005 $ 429,019 $ 1,645,040 $ 1,058,264
Basic and diluted net income per common share outstanding:
--Basic $ 0.09 $ 0.08 $ 0.25 $ 0.23
--Diluted $ 0.09 $ 0.08 $ 0.25 $ 0.22
Weighted average number of common shares outstanding
--Basic 7,223,043 5,487,494 6,597,987 4,680,340
--Diluted 7,263,017 5,526,798 6,637,755 4,727,966
MANHATTAN BRIDGE CAPITAL, INC. AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited)
Nine Months
Ended September 30,
2015 2014
Cash flows from operating activities:
Net Income $ 1,645,040 $ 1,058,264
Adjustments to reconcile net income to net cash provided by operating activities -
Amortization of deferred financing costs 27,501 ---
Depreciation 4,926 ---
Non cash compensation expense 10,248 17,799
Loss on write-down of investment in privately held company 15,000 ---
Changes in operating assets and liabilities:
Interest receivable on loans (108,815 ) (21,850 )
Other current and non current assets (27,377 ) (33,357 )
Accounts payable and accrued expenses (74,031 ) (14,409 )
Deferred origination fees 4,360 149,550
Income taxes payable --- (373,219 )
Net cash provided by operating activities 1,496,852 782,778
Cash flows from investing activities:
Issuance of short term loans (15,346,500 ) (18,827,000 )
Collections received from loans 10,234,936 10,518,616
Purchase of fixed assets (3,474 ) ---
Net cash used in investing activities (5,115,038 ) (8,308,384 )
Cash flows from financing activities:
Proceeds from loans and line of credit, net 1,024,238 2,650,000
Proceeds from public offering, net 4,237,199 4,288,765
Deferred financing costs (111,400 ) ---
Proceeds from exercise of stock options and warrants 32,838 55,230
Dividends paid (1,551,221 ) (429,329 )
Net cash provided by financing activities 3,631,654 6,564,666
Net increase (decrease) in cash and cash equivalents 13,468 (960,940 )
Cash and cash equivalents, beginning of period 47,676 1,021,023
Cash and cash equivalents, end of period $ 61,144 $ 60,083
Supplemental Cash Flow Information:
Taxes paid during the period $ 29 $ 415,928
Interest paid during the period $ 423,650 $ 383,721
Contact:
Contact:
Assaf Ran, CEO
Vanessa Kao, CFO
(516) 444-3400
Good post. Looks like near term future is promising!
$LOAN recent news/filings
bullish
hidden bullish divergence
## source: finance.yahoo.com
Sat, 29 Aug 2015 13:45:00 GMT ~ 4 Super-Safe High-Dividend Stocks to Buy Now
read full: http://www.thestreet.com/story/13270428/1/4-super-safe-high-dividend-stocks-to-buy-now.html?puc=yahoo&cm_ven=YAHOO
*********************************************************
Fri, 28 Aug 2015 16:10:35 GMT ~ Manhattan Bridge Capital, Inc. Earnings Q2, 2015
read full: http://www.capitalcube.com/blog/index.php/manhattan-bridge-capital-inc-earnings-q2-2015/
*********************************************************
Thu, 27 Aug 2015 07:33:12 GMT ~ Manhattan Bridge Capital, Inc. Announces the Buy-back of up to 150,000 of its Common Shares
[at noodls] - Press Releases Contacts: Assaf Ran, CEO (516) 444-3400 SOURCE: Manhattan Bridge Capital, Inc. Long Island, N.Y. August 26, 2015 / GLOBE Newswire -- Manhattan Bridge Capital, Inc. (NASDAQ: LOAN) announced ...
read full: http://www.noodls.com/view/A3A2B113FF9C9E38344FB5CCE0CDBF18AC3A1EF3
*********************************************************
Wed, 26 Aug 2015 11:00:00 GMT ~ Manhattan Bridge Capital, Inc. Announces the Buy-Back of up to 150,000 of Its Common Shares
[GlobeNewswire] - LONG ISLAND, N.Y., Aug. 26, 2015-- Manhattan Bridge Capital, Inc. announced that its Board of Directors has authorized a common stock repurchase allowing the buyback of up to 150,000 common shares in market ...
read full: http://finance.yahoo.com/news/manhattan-bridge-capital-inc-announces-110000855.html
*********************************************************
Sat, 08 Aug 2015 17:04:08 GMT ~ MANHATTAN BRIDGE CAPITAL, INC Financials
read full: http://finance.yahoo.com/q/is?s=loan
*********************************************************
$LOAN charts
basic chart ## source: stockcharts.com
basic chart ## source: stockscores.com
big daily chart ## source: stockcharts.com
big weekly chart ## source: stockcharts.com
$LOAN company information
## source: otcmarkets.com
Link: http://www.otcmarkets.com/stock/LOAN/company-info
Ticker: $LOAN
OTC Market Place: Not Available
CIK code: 0001080340
Company name: Manhattan Bridge Capital, Inc
Company website: http://www.nextyellow.com/
Incorporated In: NY, USA
$LOAN share structure
## source: otcmarkets.com
Market Value: $29,475,915 a/o Sep 02, 2015
Shares Outstanding: 7,224,489 a/o Jul 31, 2015
Float: Not Available
Authorized Shares: Not Available
Par Value: 0.001
$LOAN extra dd links
Company name: Manhattan Bridge Capital, Inc
Company website: http://www.nextyellow.com/
## STOCK DETAILS ##
After Hours Quote (nasdaq.com): http://www.nasdaq.com/symbol/LOAN/after-hours
Option Chain (nasdaq.com): http://www.nasdaq.com/symbol/LOAN/option-chain
Historical Prices (yahoo.com): http://finance.yahoo.com/q/hp?s=LOAN+Historical+Prices
Company Profile (yahoo.com): http://finance.yahoo.com/q/pr?s=LOAN+Profile
Industry (yahoo.com): http://finance.yahoo.com/q/in?s=LOAN+Industry
## COMPANY NEWS ##
Market Stream (nasdaq.com): http://www.nasdaq.com/symbol/LOAN/stream
Latest news (otcmarkets.com): http://www.otcmarkets.com/stock/LOAN/news - http://finance.yahoo.com/q/h?s=LOAN+Headlines
## STOCK ANALYSIS ##
Analyst Research (nasdaq.com): http://www.nasdaq.com/symbol/LOAN/analyst-research
Guru Analysis (nasdaq.com): http://www.nasdaq.com/symbol/LOAN/guru-analysis
Stock Report (nasdaq.com): http://www.nasdaq.com/symbol/LOAN/stock-report
Competitors (nasdaq.com): http://www.nasdaq.com/symbol/LOAN/competitors
Stock Consultant (nasdaq.com): http://www.nasdaq.com/symbol/LOAN/stock-consultant
Stock Comparison (nasdaq.com): http://www.nasdaq.com/symbol/LOAN/stock-comparison
Investopedia (investopedia.com): http://www.investopedia.com/markets/stocks/LOAN/?wa=0
Research Reports (otcmarkets.com): http://www.otcmarkets.com/stock/LOAN/research
Basic Tech. Analysis (yahoo.com): http://finance.yahoo.com/q/ta?s=LOAN+Basic+Tech.+Analysis
Barchart (barchart.com): http://www.barchart.com/quotes/stocks/LOAN
DTCC (dtcc.com): http://search2.dtcc.com/?q=Manhattan+Bridge+Capital%2C+Inc&x=10&y=8&sp_p=all&sp_f=ISO-8859-1
Spoke company information (spoke.com): http://www.spoke.com/search?utf8=%E2%9C%93&q=Manhattan+Bridge+Capital%2C+Inc
Corporation WIKI (corporationwiki.com): http://www.corporationwiki.com/search/results?term=Manhattan+Bridge+Capital%2C+Inc&x=0&y=0
WHOIS (domaintools.com): http://whois.domaintools.com/http://www.nextyellow.com/
Alexa (alexa.com): http://www.alexa.com/siteinfo/http://www.nextyellow.com/#
Corporate website internet archive (archive.org): http://web.archive.org/web/*/http://www.nextyellow.com/
## FUNDAMENTALS ##
Call Transcripts (nasdaq.com): http://www.nasdaq.com/symbol/LOAN/call-transcripts
Annual Report (companyspotlight.com): http://www.companyspotlight.com/library/companies/keyword/LOAN
Income Statement (nasdaq.com): http://www.nasdaq.com/symbol/LOAN/financials?query=income-statement
Revenue/EPS (nasdaq.com): http://www.nasdaq.com/symbol/LOAN/revenue-eps
SEC Filings (nasdaq.com): http://www.nasdaq.com/symbol/LOAN/sec-filings
Edgar filings (sec.gov): http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001080340&owner=exclude&count=40
Latest filings (otcmarkets.com): http://www.otcmarkets.com/stock/LOAN/filings
Latest financials (otcmarkets.com): http://www.otcmarkets.com/stock/LOAN/financials
Short Interest (nasdaq.com): http://www.nasdaq.com/symbol/LOAN/short-interest
Dividend History (nasdaq.com): http://www.nasdaq.com/symbol/LOAN/dividend-history
RegSho (regsho.com): http://www.regsho.com/tools/symbol_stats.php?sym=LOAN&search=search
OTC Short Report (otcshortreport.com): http://otcshortreport.com/index.php?index=LOAN
Short Sales (otcmarkets.com): http://www.otcmarkets.com/stock/LOAN/short-sales
Key Statistics (yahoo.com): http://finance.yahoo.com/q/ks?s=LOAN+Key+Statistics
Insider Roster (yahoo.com): http://finance.yahoo.com/q/ir?s=LOAN+Insider+Roster
Income Statement (yahoo.com): http://finance.yahoo.com/q/is?s=LOAN
Balance Sheet (yahoo.com): http://finance.yahoo.com/q/bs?s=LOAN
Cash Flow (yahoo.com): http://finance.yahoo.com/q/cf?s=LOAN+Cash+Flow&annual
## HOLDINGS ##
Major holdings (cnbc.com): http://data.cnbc.com/quotes/LOAN/tab/8.1
Insider transactions (yahoo.com): http://finance.yahoo.com/q/it?s=LOAN+Insider+Transactions
Insider transactions (secform4.com): http://www.secform4.com/insider-trading/LOAN.htm
Insider transactions (insidercrow.com): http://www.insidercow.com/history/company.jsp?company=LOAN
Ownership Summary (nasdaq.com): http://www.nasdaq.com/symbol/LOAN/ownership-summary
Institutional Holdings (nasdaq.com): http://www.nasdaq.com/symbol/LOAN/institutional-holdings
Insiders (SEC Form 4) (nasdaq.com): http://www.nasdaq.com/symbol/LOAN/insider-trades
Insider Disclosure (otcmarkets.com): http://www.otcmarkets.com/stock/LOAN/insider-transactions
## SOCIAL MEDIA AND OTHER VARIOUS SOURCES ##
PST (pennystocktweets.com): http://www.pennystocktweets.com/stocks/profile/LOAN
Market Watch (marketwatch.com): http://www.marketwatch.com/investing/stock/LOAN
Bloomberg (bloomberg.com): http://www.bloomberg.com/quote/LOAN:US
Morningstar (morningstar.com): http://quotes.morningstar.com/stock/s?t=LOAN
Bussinessweek (businessweek.com): http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?ticker=LOAN
$LOAN DD Notes ~ http://www.ddnotesmaker.com/LOAN
Manhattan Bridge Capital Authorizes Repurchase of Up to 150,000 Common Shares
07:14 AM EDT, 08/26/2015 (MT Newswires) -- Manhattan Bridge Capital, Inc (LOAN), a real estate finance company, said Wednesday that it has authorized the repurchase of up to 150,000 of common stock in market or off-market transactions at prevailing market prices.
Shares closed marginally higher on Tuesday, trading in a narrow band of $2.55 - $4.78.
Price: 3.26, Change: , Percent Change:
http://www.mtnewswires.com Copyright © 2015 MTNewswires. All rights reserved. MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.
LOAN weekly strong!!moves slow but it has long term olay written all over it
Manhattan Bridge Capital, Inc. Reports Second Quarter Results
LONG ISLAND, N.Y., July 31, 2015 (GLOBE NEWSWIRE) -- Manhattan Bridge Capital, Inc. (NASDAQ:LOAN)
Manhattan Bridge Capital, Inc. announced today that its total revenue for the three month period ended June 30, 2015 was approximately $912,000 compared to approximately $630,000 for the three month period ended June 30, 2014 , an increase of $282,000 , or 44.8%. For the three month period ended June 30, 2015 , approximately $764,000 of the Company's revenue represents interest income on the secured, commercial loans that the Company offers to small businesses compared to approximately $518,000 for the same period in 2014, and approximately $148,000 represents origination fees on such loans compared to approximately $112,000 for the same period in 2014. The increase in revenue represents an increase in lending operations.
Income from operations for the three month period ended June 30, 2015 was approximately $545,000 compared to approximately $331,000 for the same period ended June 30, 2014 , an increase of $214,000 or 64.7%. This increase in income from operations resulted mainly from an increase in revenue, offset by increases in interest and amortization of debt service costs resulting from the Company's establishment and use of its three-year $14 million Webster Credit Line , and in public relations, payroll and travel expenses.
Net income for the three month period ended June 30, 2015 was approximately $530,000 , versus approximately $421,000 for same period in 2014, an increase of $109,000 or 25.9%. This increase in net income is mainly due to an increase in income from operations. Net income per share for the three month period ended June 30, 2015 was $0.08 , versus $0.10 for the same period in 2014. This decrease mainly resulted from the Company's sale of equity securities during the second quarter. The Company had only begun to realize the significant benefit from the deployment of the proceeds during the third quarter.
Total revenue for the six month period ended June 30, 2015 was approximately $1,824,000 compared to approximately $1,239,000 for the six month period ended June 30, 2014 , an increase of $585,000 , or 47.2%. For the six month period ended June 30, 2015 , approximately $1,521,000 of the Company's revenue represents interest income on the secured, commercial loans that the Company offers to small businesses compared to approximately $1,025,000 for the same period in 2014, and approximately $303,000 represents origination fees on such loans compared to approximately $214,000 for the same period in 2014. The increase in revenue represents an increase in lending operations.
Income from operations for the six month period ended June 30, 2015 was approximately $1,021,000 compared to approximately $647,000 for the same period ended June 30, 2014 , an increase of $374,000 or 57.8%. This increase in income from operations resulted mainly from an increase in revenue, offset by increases in interest and amortization of debt service costs, and in payroll, public relations and consulting expenses, and a special bonus to officers for establishing a three-year $14 million revolving line of credit with Webster Business Credit Corporation .
Net income for the six month period ended June 30, 2015 was approximately $1,006,000 , versus approximately $629,000 for the same period in 2014, an increase of $377,000 or 59.9%. This increase in net income is mainly due to an increase in income from operations. Net income per share for the six month period ended June 30, 2015 was $0.16 , versus $0.15 for the same period in 2014. As of June 30, 2015 total shareholders' equity was approximately $18,184,000 compared to approximately $13,866,000 as of December 31, 2014 , an increase of $4,318,000 .
The Company completed a public offering of 1,015,000 common shares on May 29, 2015 , and the underwriter partially exercised its over-allotment option for an additional 105,000 common shares in June 2015 . The gross proceeds from the offering, including the partial exercise of the over-allotment option, were approximately $4.9 million and the net proceeds were approximately $4.3 million , after deducting our underwriting discounts and commissions and offering expenses.
Assaf Ran , Chairman of the Board and CEO stated, “During the second quarter, we managed to continue growing the Company responsibly and constantly. The successful public offering that was completed at the end of the quarter resulted in an increase in the number of outstanding shares while the Company had only begun to realize the significant benefit from the deployment of the proceeds of the offering during the third quarter. This factor resulted in the decrease in EPS even though net income was significantly higher than the correspond quarter of 2014," added Mr. Ran.
About Manhattan Bridge Capital, Inc. Manhattan Bridge Capital, Inc. offers short-term secured, non–banking loans (sometimes referred to as ‘‘hard money’’ loans) to real estate investors to fund their acquisition, renovation, rehabilitation or improvement of properties located in the New York metropolitan area. We operate the web site: http://www.manhattanbridgecapital.com
This report contains forward-looking statements within the meaning of section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements are typically identified by the words “believe,” “expect,” “intend,” “estimate” and similar expressions. Those statements appear in a number of places in this report and include statements regarding our intent, belief or current expectations or those of our directors or officers with respect to, among other things, trends affecting our financial condition and results of operations and our business and growth strategies. These forward-looking statements are not guarantees of future performance and involve risks and uncertainties. Actual results may differ materially from those projected, expressed or implied in the forward-looking statements as a result of various factors (such factors are referred to herein as “Cautionary Statements”), including but not limited to the following: (i)we may not qualify as a REIT; (ii) we have no operating history as a REIT;(iii) our loan origination activities, revenues and profits are limited by available funds (iv)we operate in a highly competitive market and competition may limit our ability to originate loans with favorable interest rates; (v) our chief executive officer is critical to our business and our future success may depend on our ability to retain him; (vi) if we overestimate the yields on our loans or incorrectly value the collateral securing the loan, we may experience losses; (vii) we may be subject to “lender liability” claims; (viii) our loan portfolio is illiquid; (ix) our due diligence may not uncover all of a borrower’s liabilities or other risks to its business; (x) borrower concentration could lead to significant losses; (xi) our management has no experience managing a REIT; and (xii) we may choose to make distributions in our own stock, in which case you may be required to pay income taxes in excess of the cash dividends you receive. The accompanying information contained in this report, including the information set forth under “Management’s Discussion and Analysis of Financial Condition and Results of Operations”, identifies important factors that could cause such differences. These forward-looking statements speak only as of the date of this report, and we caution potential investors not to place undue reliance on such statements. We undertake no obligation to update or revise any forward-looking statements. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the Cautionary Statements.
Ya think we will see new high in company HISTORY? Last high was $4.99 back in March 04, 2004!!! We getting close!!
IMO
07/06/15 05:17:08: Manhattan Bridge Capital to Pay Unchanged $0.08 Quarterly Dividend
07:14 AM EDT, 07/06/2015 (MT Newswires) -- Manhattan Bridge Capital (LOAN) said Monday it will pay a quarterly cash dividend on its common stock of $0.08 per share on July 15 to shareholders of record on July 10.
The real estate finance company maintained its dividend rate from the previous quarter.
Shares were unchanged pre-bell at $4.45, trading in a narrow band of $2.35 - $4.78.
Price: 4.45, Change: , Percent Change:
http://www.mtnewswires.com Copyright © 2015 MTNewswires. All rights reserved. MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.
7/06/15 05:00:00: Manhattan Bridge Capital, Inc. Announces Payment of Quarterly $0.08 Per Share Dividend
LONG ISLAND, N.Y., July 06, 2015 (GLOBE NEWSWIRE) -- Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) announced today that in accordance with the board approved dividend declared May 5, 2015 , a cash dividend of $0.08 per share will be paid to all shareholders of record on July 10, 2015 with pay date on July 15, 2015.
Contact:
Assaf Ran , CEO
(516) 444-3400
Source: Manhattan Bridge Capital, Inc.
Manhattan Bridge Capital, Inc. Announces Closing of Public Offering
GREAT NECK, N.Y. , May 29, 2015 (GLOBE NEWSWIRE) -- Manhattan Bridge Capital, Inc. (Nasdaq:LOAN), a “hard money” lender specializing in short-term loans secured by real estate, today announced the closing of its previously announced public offering of 1,015,000 common shares at a price to the public of $4.39 per share. Gross proceeds to Manhattan Bridge Capital from the offering were approximately $4,460,000 , before deducting underwriting discounts and commissions and other estimated offering expenses. Manhattan Bridge Capital has granted the underwriters a 45-day option to purchase up to 152,250 additional common shares to cover over-allotments, if any.
Aegis Capital Corp. acted as the sole book-running manager for the offering.
This offering was made pursuant to a shelf registration statement (File No. 333-203678) previously filed with the Securities and Exchange Commission (the “SEC”) and which became effective on May 18, 2015 . A preliminary prospectus supplement and accompanying prospectus relating to the offering were filed with the SEC on May 22, 2015 , and a final prospectus supplement and accompanying base prospectus was filed with the SEC on May 26 , 2015. Electronic copies of the final prospectus supplement and accompanying prospectus relating to this offering may be obtained from the SEC’s website at www.sec.gov or from Aegis Capital Corp. , 810 7th Avenue , 18th Floor, New York, NY 10019 or via telephone at 212-813-1010 or email: prospectus@aegiscap.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Assaf Ran , CEO
(516) 444-3400
Source: Manhattan Bridge Capital, Inc.
Yeah, its normal.. Rise and drop, repeat.. New lows high.. Im loading also..
Cheer
Dropped $.57 today. I think it's just a temporary dip. I'm loading up some more on LOAN while it's lower.
GLTA
RR
$LOAN hit new high AGAIN. $4.75. Going strong and I believe this will pass 5 bucks..
IMO
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