XML 59 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Balance Sheets (USD $)
Sep. 30, 2013
Dec. 31, 2012
ASSETS    
Available-for-sale securities, at fair value (includes pledged securities of $417,552,903 and $66,337,080 for September 30, 2013 and December 31, 2012, respectively) $ 417,552,903 $ 81,027,998
Linked transactions, net, at fair value 23,205,354 8,612,753
Cash and cash equivalents 16,344,488 3,608,759
Restricted cash 13,691,658 1,933,390
Deferred offering costs 0 1,664,796
Accrued interest receivable 1,009,688 189,364
Paydown receivable 238,679 0
Derivative assets, at fair value 1,541,494 12,062
Other assets 143,978 0
Total assets 473,728,242 97,049,122
LIABILITIES AND STOCKHOLDERS' EQUITY    
Repurchase agreements 377,044,000 [1] 63,423,000 [2]
Derivative liabilities, at fair value 4,509,929 283,754
Accrued interest payable 108,167 65,820
Dividends payable 0 220,833
Fees and expenses payable to Manager 337,721 32,721
Other accounts payable and accrued expenses 240,306 754,274
Total liabilities 382,240,123 64,780,402
STOCKHOLDERS' EQUITY:    
Preferred Stock: par value $0.01 per share; 50,000,000 shares authorized, none outstanding   0
Common Stock: par value $0.01 per share; 450,000,000 shares authorized, 7,389,250 and 1,656,250 shares issued and outstanding, at September 30, 2013 and December 31, 2012, respectively 73,563 265,000
Additional paid-in capital 110,092,760 25,912,089
Accumulated other comprehensive income (loss) (7,505,535) 2,433,997
Cumulative distributions to stockholders (8,475,901) (1,161,672)
Accumulated earnings (deficit) (2,696,768) 4,819,306
Total stockholders' equity 91,488,119 32,268,720
Total liabilities and stockholders' equity $ 473,728,242 $ 97,049,122
[1] At September 31, 2013, the Company had repurchase agreements of $42,548,000 that were linked to Non-Agency RMBS purchases and were accounted for as Linked Transactions, and as such, the linked repurchase agreements are not included in the above table. (See Note 3)
[2] At December 31, 2012, the Company had repurchase agreements of $13,989,000 that were linked to Non-Agency RMBS purchases and were accounted for as Linked Transactions, and as such, the linked repurchase agreements are not included in the above table. (See Note 3)