10-Q Filing

ELLINGTON CREDIT CO CIK: 1560672 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0001560672-13-000006`
Period End Date	20130331
Filing Date	20130611
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	earn-20130331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 46 Income Statement 13 Cash Flow Statement 19 Stockholders Equity 5

Balance Sheet 46 line items

Line Item	Tag	Value	Unit	Period
Non-Agency, Cost	`InvestmentOwnedAtCost`	$12.10M	USD	Point-in-time
Non-Agency, Cost	`InvestmentOwnedAtCost`	$13.49M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.16M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$20.10M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Non-Agency (Cost$12,099 and $13,490)	`FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesAtFairValue`	$13.60M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Non-Agency (Cost$12,099 and $13,490)	`FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesAtFairValue`	$12.36M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	1.63M	shares	Point-in-time
Deferred offering costs	`DeferredOfferingCosts`	$439.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	1.63M	shares	Point-in-time
Deferred offering costs	`DeferredOfferingCosts`	$360.00K	USD	Point-in-time
Interest receivable	`InterestReceivable`	$39.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	1.63M	shares	Point-in-time
Interest receivable	`InterestReceivable`	$43.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	1.63M	shares	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Total Assets	`Assets`	$32.94M	USD	Point-in-time
Total Assets	`Assets`	$32.16M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$728.00K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$1.08M	USD	Point-in-time
Management fee payable	`ManagementFeePayable`	$119.00K	USD	Point-in-time
Management fee payable	`ManagementFeePayable`	$116.00K	USD	Point-in-time
Total Liabilities	`Liabilities`	$847.00K	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.19M	USD	Point-in-time
Preferred shares, par value $0.01 per share, 100,000,000 shares authorized; (0 shares issued and outstanding, respectively)	`PreferredStockValue`	-	USD	Point-in-time
Preferred shares, par value $0.01 per share, 100,000,000 shares authorized; (0 shares issued and outstanding, respectively)	`PreferredStockValue`	-	USD	Point-in-time
Common shares, par value $0.01 per share, 500,000,000 shares authorized; (1,633,378 shares issued and outstanding, respectively)	`CommonStockValue`	$16.00K	USD	Point-in-time
Common shares, par value $0.01 per share, 500,000,000 shares authorized; (1,633,378 shares issued and outstanding, respectively)	`CommonStockValue`	$16.00K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$32.67M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$32.67M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.73M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-597.00K	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$32.09M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$30.96M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$32.94M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$32.16M	USD	Point-in-time

Income Statement 13 line items

Line Item	Tag	Value	Unit	Period
Interest income	`InterestIncomeOperating`	$283.00K	USD	1 Quarter
Total interest income	`InterestIncomeOperating`	$283.00K	USD	1 Quarter
Management fees	`ManagementFees`	$119.00K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$32.00K	USD	1 Quarter
Custody and other fees	`CustodyFees`	$26.00K	USD	1 Quarter
Agency and administration fees	`CostOfServices`	$13.00K	USD	1 Quarter
Organizational expenses	`OrganizationalExpenses`	$7.00K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$197.00K	USD	1 Quarter
Net realized gains on real estate securities	`GainLossOnSalesOfMortgageBackedSecuritiesMBS`	$888.00K	USD	1 Quarter
Change in net unrealized gains on real estate securities	`UnrealizedGainLossOnSecurities`	$155.00K	USD	1 Quarter
Total other income	`OtherIncome`	$1.04M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$1.13M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.69	USD	1 Quarter

Cash Flow Statement 19 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.13M	USD	1 Quarter
Net realized gains on real estate securities	`GainLossOnSalesOfMortgageBackedSecuritiesMBS`	$888.00K	USD	1 Quarter
Change in net unrealized gains on real estate securities	`UnrealizedGainLossOnSecurities`	$155.00K	USD	1 Quarter
Amortization of premiums and accretion of discounts (net)	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$139.00K	USD	1 Quarter
Interest receivable	`IncreaseDecreaseInAccruedInterestReceivableNet`	$4.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-299.00K	USD	1 Quarter
Management fees payable	`IncreaseDecreaseInManagementFeePayable`	$3.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-353.00K	USD	1 Quarter
Purchases of real estate securities	`PaymentsToAcquireInvestments`	$3.33M	USD	1 Quarter
Proceeds from sale of real estate securities	`ProceedsFromSaleOfOtherInvestments`	$5.31M	USD	1 Quarter
Principal repayments of real estate securities	`PrincipalRepaymentsOfSecurities`	$440.00K	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$2.42M	USD	1 Quarter
Offering costs paid	`PaymentsOfStockIssuanceCosts`	$128.00K	USD	1 Quarter
Cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-128.00K	USD	1 Quarter
NET INCREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.94M	USD	1 Quarter
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$18.16M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$20.10M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$18.16M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$20.10M	USD	Point-in-time

Stockholders Equity 5 line items

Line Item	Tag	Value	Unit	Period
BALANCE, December 31, 2012	`StockholdersEquity`	$32.09M	USD	Point-in-time
BALANCE, December 31, 2012	`StockholdersEquity`	$30.96M	USD	Point-in-time
Net income	`NetIncomeLoss`	$1.13M	USD	1 Quarter
BALANCE, March 31, 2013	`StockholdersEquity`	$32.09M	USD	Point-in-time
BALANCE, March 31, 2013	`StockholdersEquity`	$30.96M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.