KORTH DIRECT MORTGAGE INC. Financial Statements (2024 and earlier)
Company Profile
| Business Address |
135 SAN LORENZO AVE CORAL GABLES, FL 33146 |
| State of Incorp. | FL |
| Fiscal Year End | December 31 |
| Industry (SIC) | 6162 - Mortgage Bankers and Loan Correspondents (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 9/30/2023 MRQ | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 18,360 | 19,481 | 2,037 | 2,379 | 15 | 20 | |||
| Cash and cash equivalents | 18,360 | 19,481 | 2,037 | 2,379 | 15 | 20 | |||
| Receivables | 4 | 20 | 63 | ||||||
| Deposits current assets | 136 | 140 | |||||||
| Total current assets: | 18,360 | 19,621 | 2,197 | 2,441 | 15 | 20 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 723 | 935 | 1,031 | ✕ | ✕ | ||||
| Property, plant and equipment | 18,172 | 304 | 187 | ||||||
| Intangible assets, net (including goodwill) | 110 | 110 | 110 | ||||||
| Goodwill | 110 | 110 | 110 | ||||||
| Total noncurrent assets: | 19,005 | 1,350 | 1,328 | ||||||
| Other undisclosed assets | 470,183 | 351,075 | 188,333 | 91,747 | 13,561 | 2,066 | |||
| TOTAL ASSETS: | 507,549 | 372,046 | 191,858 | 94,189 | 13,576 | 2,086 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Deferred revenue | 1,594 | 1,158 | 500 | 290 | ✕ | ✕ | |||
| Debt | |||||||||
| Securities loaned | 454,883 | ||||||||
| Total current liabilities: | 456,477 | 1,158 | 500 | 290 | |||||
| Noncurrent Liabilities | |||||||||
| Liabilities, other than long-term debt | 3,337 | 2,050 | 641 | 380 | |||||
| Deferred income tax liabilities | 3,337 | 2,050 | 641 | 380 | ✕ | ✕ | |||
| Total noncurrent liabilities: | 3,337 | 2,050 | 641 | 380 | |||||
| Other undisclosed liabilities | 15,371 | 338,228 | 184,330 | 87,094 | 13,844 | 2,404 | |||
| Total liabilities: | 475,185 | 341,436 | 185,471 | 87,764 | 13,844 | 2,404 | |||
| Equity | |||||||||
| Equity, attributable to parent, including: | 32,125 | 30,610 | 6,387 | 6,425 | (271) | (322) | |||
| Preferred stock | 0 | 0 | |||||||
| Common stock | 5 | 5 | 1 | 1 | |||||
| Additional paid in capital | 25,627 | 25,719 | 5,021 | 5,485 | |||||
| Retained earnings (accumulated deficit) | 6,493 | 4,885 | 1,366 | 939 | (271) | (322) | |||
| Other undisclosed equity, attributable to parent | 0 | ||||||||
| Equity, attributable to noncontrolling interest | 239 | ||||||||
| Other undisclosed equity | 0 | 4 | 4 | ||||||
| Total equity: | 32,364 | 30,610 | 6,387 | 6,425 | (268) | (318) | |||
| TOTAL LIABILITIES AND EQUITY: | 507,549 | 372,046 | 191,858 | 94,189 | 13,576 | 2,086 | |||
Income Statement (P&L) ($ in thousands)
| 9/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 9,862 | 7,421 | 2,773 | 590 | 452 | 46 | ||
| Net investment income | 5,429 | 4,226 | 2,617 | 18 | 0 | |||
| Cost of revenue | (3,072) | (2,007) | (808) | (293) | (233) | (56) | ||
| Cost of goods and services sold | (18) | |||||||
| Other undisclosed gross profit | ||||||||
| Gross profit: | 6,790 | 5,414 | 1,964 | 297 | 219 | (10) | ||
| Operating expenses | (6,048) | (5,325) | (2,240) | (910) | (384) | (234) | ||
| Operating income (loss): | 742 | 89 | (276) | (613) | (165) | (244) | ||
| Nonoperating income | 4,132 | 5,797 | 1,263 | 2,929 | 215 | |||
| Interest and debt expense | (1,345) | (120) | (17) | 549 | ||||
| Other undisclosed loss from continuing operations before equity method investments, income taxes | (2,674) | |||||||
| Income (loss) from continuing operations before equity method investments, income taxes: | 3,529 | 5,766 | 970 | 191 | 50 | (244) | ||
| Other undisclosed income from continuing operations before income taxes | 1,345 | 120 | 17 | 2,126 | ||||
| Income (loss) from continuing operations before income taxes: | 4,874 | 5,885 | 987 | 2,317 | 50 | (244) | ||
| Income tax expense | (1,287) | (1,459) | (261) | (380) | ||||
| Other undisclosed loss from continuing operations | (2,563) | (3,191) | (936) | (2,423) | ||||
| Income (loss) from continuing operations: | 1,023 | 1,236 | (210) | (487) | 50 | (244) | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | ✕ | 1,236 | (210) | (487) | 50 | (244) | |
| Other undisclosed net income | 2,563 | |||||||
| Net income (loss): | 3,586 | 1,236 | (210) | (487) | 50 | (244) | ||
| Net loss attributable to noncontrolling interest | (239) | |||||||
| Other undisclosed net income (loss) attributable to parent | 3,191 | 936 | 2,423 | |||||
| Net income (loss) attributable to parent: | 3,348 | 4,427 | 726 | 1,936 | 50 | (244) | ||
| Preferred stock dividends and other adjustments | (450) | (338) | (300) | (78) | ||||
| Other undisclosed net loss available to common stockholders, basic | (1,290) | (569) | ||||||
| Net income (loss) available to common stockholders, diluted: | 1,608 | 3,520 | 426 | 1,859 | 50 | (244) | ||
Comprehensive Income ($ in thousands)
| 9/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | 3,586 | 1,236 | (210) | (487) | 50 | (244) | ||
| Comprehensive income (loss): | 3,586 | 1,236 | (210) | (487) | 50 | (244) | ||
| Comprehensive loss, net of tax, attributable to noncontrolling interest | (239) | |||||||
| Other undisclosed comprehensive loss, net of tax, attributable to parent | ||||||||
| Comprehensive income (loss), net of tax, attributable to parent: | 3,348 | 1,236 | (210) | (487) | 50 | (244) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.