10-Q

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

x  QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2009

o  TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT

For the transition period from to

Commission file number 1-8601

CreditRiskMonitor.com, Inc.

(Exact name of registrant as specified in its charter)

Nevada	36-2972588
(State or other jurisdiction of  incorporation or organization)	(I.R.S. Employer Identification No.)
704 Executive Boulevard, Suite A Valley Cottage, New York	10989
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (845) 230-3000

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes x   No o

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). 

Yes o   No o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a small reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

 Large accelerated filer o Accelerated filero

 Non-accelerated filer o   Smaller reporting companyx

Indicate by check mark whether the registrant is a shell company (as defined by Rule 12b-2 of the Exchange Act).

Yes o   No x

APPLICABLE ONLY TO CORPORATE ISSUERS

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practical date:

Common stock $.01 par value -- 7,849,462 shares outstanding as of August 7, 2009.

CREDITRISKMONITOR.COM, INC.

INDEX

	Page
PART I. FINANCIAL INFORMATION
Item 1. Financial Statements
Balance Sheets – June 30, 2009 (Unaudited) and December 31, 2008	2
Statements of Operations for the Three Months Ended June 30, 2009 and 2008 (Unaudited)	3
Statements of Operations for the Six Months Ended June 30, 2009 and 2008 (Unaudited)	4
Statements of Cash Flows for the Six Months Ended June 30, 2009 and 2008 (Unaudited)	5
Condensed Notes to Financial Statements	6
Item 2.       Management's Discussion and Analysis of Financial Condition and Results of Operations	9
Item 4T.     Controls and Procedures	13
PART II. OTHER INFORMATION
Item 6.        Exhibits	14
SIGNATURES	15
EXHIBITS
31.1    Certification of Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002	16
31.2    Certification of Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002	17
32.1    Certification of Chief Executive Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002	18
32.2    Certification of Chief Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002	19

1

PART I. FINANCIAL INFORMATION

Item 1. Financial Statements

CREDITRISKMONITOR.COM, INC.

BALANCE SHEETS

JUNE 30, 2009 AND DECEMBER 31, 2008

	June 30,			Dec. 31,
	2009			2008
	(Unaudited)			(Note 1)
ASSETS
Current assets:
Cash and cash equivalents	$	4,741,583		$	912,591
Marketable securities		—			2,958,996
Accounts receivable, net of allowance		881,222			1,146,066
Other current assets		160,339			237,883
Total current assets		5,783,144			5,255,536
Property and equipment, net		245,110			213,142
Goodwill		1,954,460			1,954,460
Prepaid and other assets		36,057			28,109
Total assets	$	8,018,771		$	7,451,247
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Deferred revenue	$	5,046,658		$	4,394,803
Accounts payable		26,625			52,758
Accrued expenses		509,108			610,748
Total current liabilities		5,582,391			5,058,309
Other liabilities		489			3,424
Total liabilities		5,582,880			5,061,733
Stockholders’ equity:
Preferred stock, $.01 par value; authorized
5,000,000 shares; none issued		—			—
Common stock, $.01 par value; authorized 25,000,000
shares; issued and outstanding 7,849,462 shares		78,494			78,494
Additional paid-in capital		28,306,217			28,279,268
Accumulated deficit		(25,948,820	)		(25,968,248	)
Total stockholders’ equity		2,435,891			2,389,514
Total liabilities and stockholders’ equity	$	8,018,771		$	7,451,247

See accompanying condensed notes to financial statements.

2

CREDITRISKMONITOR.COM, INC.

STATEMENTS OF OPERATIONS

FOR THE THREE MONTHS ENDED JUNE 30, 2009 AND 2008

(Unaudited)

	2009			2008
Operating revenues	$	1,922,437		$	1,404,450
Operating expenses:
Data and product costs		565,056			447,743
Selling, general and administrative expenses		1,304,604			921,497
Depreciation and amortization		25,337			20,471
Total operating expenses		1,894,997			1,389,711
Income from operations		27,440			14,739
Other income (expense)		(12,199	)		8,738
Interest expense		(7	)		(2,528	)
Income before income taxes		15,234			20,949
Provision for income taxes		1,030			467
Net income	$	14,204		$	20,482
Net income per share of common stock:
Basic	$	0.00		$	0.00
Diluted	$	0.00		$	0.00
Weighted average number of common shares
outstanding:
Basic		7,849,462			7,694,473
Diluted		8,089,622			8,058,513

See accompanying condensed notes to financial statements.

3

CREDITRISKMONITOR.COM, INC.

STATEMENTS OF OPERATIONS

FOR THE SIX MONTHS ENDED JUNE 30, 2009 AND 2008

(Unaudited)

		2009			2008
Operating revenues	$	3,665,563		$	2,769,640
Operating expenses:
Data and product costs		1,065,498			878,971
Selling, general and administrative expenses		2,539,495			1,813,743
Depreciation and amortization		48,992			38,010
Total operating expenses		3,653,985			2,730,724
Income from operations		11,578			38,916
Other income		10,350			33,464
Interest expense		(7	)		(9,773	)
Income before income taxes		21,921			62,607
Provision for income taxes		2,493			2,357
Net income	$	19,428		$	60,250
Net income per share of common stock:
Basic	$	0.00			$0.01
Diluted	$	0.00			$0.01
Weighted average number of common shares
outstanding:
Basic		7,849,462			7,694,467
Diluted		8,006,626			8,086,241

See accompanying condensed notes to financial statements.

4

CREDITRISKMONITOR.COM, INC.

STATEMENTS OF CASH FLOWS

FOR THE SIX MONTHS ENDED JUNE 30, 2009 AND 2008

(Unaudited)

	2009			2008
Cash flows from operating activities:
Net income	$	19,428		$	60,250
Adjustments to reconcile net income to net
cash provided by operating activities:
Depreciation and amortization		48,992			38,010
Deferred rent		(2,935	)		(1,424	)
Stock-based compensation		26,949			26,948
Realized loss on marketable securities		28,224			-
Changes in operating assets and liabilities:
Accounts receivable		264,844			46,119
Other current assets		77,544			108,483
Prepaid and other assets		(7,948	)		(6,273	)
Deferred revenue		651,855			398,312
Accounts payable		(26,133	)		9,470
Accrued expenses		(101,640	)		(15,143	)
Other liabilities		-			(58,890	)
Net cash provided by operating activities		979,180			605,862
Cash flows from investing activities:
Purchase of marketable securities		(433,761	)		-
Sale of marketable securities		3,364,533			-
Purchase of property and equipment		(80,960	)		(60,573	)
Net cash provided by (used in) investing activities		2,849,812			(60,573	)
Cash flows from financing activities:
Proceeds from exercise of stock options		-			5,000
Payments on long-term debt		-			(286,940	)
Net cash used in financing activities		-			(281,940	)
Net increase in cash and cash equivalents		3,828,992			263,349
Cash and cash equivalents at beginning of period		912,591			2,973,263
Cash and cash equivalents at end of period	$	4,741,583		$	3,236,612

See accompanying condensed notes to financial statements.

5

CREDITRISKMONITOR.COM, INC.

CONDENSED NOTES TO FINANCIAL STATEMENTS

(Unaudited)

(1) Basis of Presentation

The accompanying unaudited condensed financial statements of CreditRiskMonitor.com, Inc. (the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Certain information and footnote disclosure required by generally accepted accounting principles (“GAAP”) in the United States for complete financial statements have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). In the opinion of management, the accompanying unaudited financial statements reflect all material adjustments, including normal recurring accruals, necessary to present fairly the Company’s financial position, results of operations and cash flows for the periods presented, and have been prepared in a manner consistent with the audited financial statements for the fiscal year ended December 31, 2008.

The results of operations for the three and six months ended June 30, 2009 are not necessarily indicative of the results of a full fiscal year.

The December 31, 2008 balance sheet has been derived from the audited financial statements at that date, but does not include all disclosures required by GAAP. These financial statements should be read in conjunction with the audited financial statements and the footnotes for the fiscal year ended December 31, 2008 included in the Company’s Annual Report on Form 10-K.

In May 2009, the Financial Accounting Standards Board issued Financial Accounting Standards (“SFAS”) No. 165, “Subsequent Events” (“SFAS 165”). This standard is intended to establish general standards of accounting for and disclosure of events that occur after the balance sheet date but before financial statements are issued or are available to be issued. Specifically, this standard sets forth the period after the balance sheet date during which management of a reporting entity should evaluate events or transactions that may occur for potential recognition or disclosure in the financial statements, the circumstances under which an entity should recognize events or transactions occurring after the balance sheet date in its financial statements, and the disclosures that an entity should make about events or transactions that occurred after the balance sheet date. SFAS 165 is effective for fiscal years and interim periods ended after June 15, 2009. We adopted this standard effective June 15, 2009 and have evaluated any subsequent events through the date of this filing. We do not believe there are any material subsequent events which would require further disclosure.

(2) Stock-Based Compensation

The Company applies SFAS No. 123 (revised 2004), “Share-Based Payment” (“SFAS 123R”) to account for stock-based compensation.

6

The following table summarizes the stock-based compensation expense for stock options that was recorded in the Company’s results of operations in accordance with SFAS 123R for the three and six months ended June 30:

	3 Months Ended				6 Months Ended
	June 30,				June 30,
	2009		2008		2009		2008
Data and product costs	$	1,952	$	1,952	$	3,905	$	3,905
Selling, general and administrative expenses		11,522		11,522		23,044		23,043
	$	13,474	$	13,474	$	26,949	$	26,948

(3) Other Recently Issued Accounting Standards

The Financial Accounting Standards Board and the SEC had issued certain accounting pronouncements as of June 30, 2009 that will become effective in subsequent periods; however, management does not believe that any of those pronouncements would have significantly affected our financial accounting measurements or disclosures had they been in effect during the interim periods for which financial statements are included in this quarterly report. Management also believes those pronouncements will not have a significant effect on our future financial position or results of operations.

(4) Fair Value Measurements

The Company records its financial instruments that are accounted for under SFAS No. 115, “Accounting for Certain Investments in Debt and Equity Securities” at fair value. The determination of fair value is based upon the fair value framework established by SFAS No. 157, “Fair Value Measurements” (“SFAS 157”). SFAS 157 provides that a fair value measurement assumes that the transaction to sell an asset or transfer a liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability. The fair value hierarchy is broken down into three levels based on the source of inputs as follows: (a) Level 1 – valuations based on unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; (b) Level 2 – valuations based on quoted prices in markets that are not active, or financial instruments for which all significant inputs are observable; either directly or indirectly; and (c) Level 3 – valuations based on prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable; thus, reflecting assumptions about the market participants.

The Company’s cash and cash equivalents are stated at fair value. The carrying value of accounts receivable, other current assets, accounts payable and other current liabilities approximates fair market value because of the short maturity of these financial instruments.

The Company’s cash equivalents are generally classified within level 1 of the fair value hierarchy because they are valued using quoted market prices. These instruments include money market securities.

7

The table below sets forth the Company’s cash and cash equivalents as of June 30, 2009, which are measured at fair value on a recurring basis by level within the fair value hierarchy.

	Level 1		Level 2		Level 3		Total fair value
Cash and cash equivalents	$	4,741,583	$	-	$	-	$	4,741,583
Total	$	4,741,583	$	-	$	-	$	4,741,583

The Company did not hold financial assets and liabilities which were recorded at fair value in the Level 2 or 3 categories as of June 30, 2009.

Effective January 1, 2009, the Company fully adopted the provisions of SFAS 157 by adopting the provisions relating to its nonfinancial assets and liabilities. The Company adopted the provisions relating to financial assets and liabilities in the prior year and its adoption of SFAS 157 relating to nonfinancial assets and liabilities did not have a material impact on its financial position or results of operations.

(5) Net Income Per Share

Basic net income per share is based on the weighted average number of common shares outstanding. Diluted net income per share is based on the weighted average number of common shares outstanding and the dilutive effect of outstanding stock options:

	3 Months Ended June30,						6 Months Ended June30,
	2009			2008			2009			2008
Weighted average shares outstanding – basic		7,849,462			7,694,473			7,849,462			7,694,467
Potential shares exercisable  under stock option plans		527,500			677,500			483,000			707,500
LESS: Shares which could be repurchased under treasury  stock method		(287,340	)		(313,460	)		(325,836	)		(315,726	)
Weighted average shares outstanding – diluted		8,089,622			8,058,513			8,006,626			8,086,241

The diluted earnings per share calculation for the three and six months ended June 30, 2009 and for the three months ended June 30, 2008 excluded 55,000, 99,500 and 55,000 shares, respectively, related to stock options as the exercise price of these options was greater than the average market price of the underlying securities, which would result in an anti-dilutive effect on diluted earnings per share.

8

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

BUSINESS ENVIRONMENT

The continuing uncertainty in the worldwide financial system has negatively impacted general business conditions. It is possible that a weakening economy could adversely affect our clients’ need for credit information, or even their solvency, but we cannot predict whether or to what extent this will occur. To the contrary, monthly bookings of new business subscriptions for first half of 2009 were the highest in the Company’s history, supporting our belief that the need for credit information is non-cyclical (see discussion on “Non-cyclical” found on page 5 of our 2008 Form 10-K).

FINANCIAL CONDITION, LIQUIDITY AND CAPITAL RESOURCES

The following table presents selected financial information and statistics as of June 30, 2009 and December 31, 2008 (dollars in thousands):

	June 30,		December 31,
	2009		2008
Cash, cash equivalents, and marketable securities	$	4,742	$	3,872
Accounts receivable, net	$	881	$	1,146
Working capital	$	201	$	197
Cash ratio		0.85		0.77
Quick ratio		1.01		0.99
Current ratio		1.04		1.04

The Company has invested most of its excess cash in debt instruments of the United States Government. All highly liquid investments with an original maturity of three months or less are considered cash equivalents, while those with maturities in excess of three months are reflected as marketable securities.

As of June 30, 2009, the Company had $4.74 million in cash, cash equivalents, and marketable securities, an increase of $870,000 from December 31, 2008, and an increase of $1.51 million from the cash and cash equivalents balance reported at June 30, 2008. The principal component of this net increase for the last six months was the cash generated by operating activities of $979,000.

The Company’s cash generated by operating activities significantly exceeded its net income due primarily to the increase in deferred revenue.Additionally, the main component of current liabilities at June 30, 2009 is deferred revenue of $5.05 million, which should not require significant future cash outlay other than the cost of preparation and delivery of the applicable commercial credit reports which cost much less than the deferred revenue shown. The deferred revenue is recognized as income over the subscription term, which approximates twelve months. The Company has no bank lines of credit or other currently available credit sources.

The Company believes that its existing balances of cash and cash equivalents will be sufficient resources to meet its working capital and capital expenditure needs for the foreseeable future.

9

OFF-BALANCE SHEET ARRANGEMENTS

The Company is not a party to any off-balance sheet arrangements.

RESULTS OF OPERATIONS

	3 Months Ended June 30,
	2009						2008
				% of Total						% of Total
				Operating						Operating
	Amount			Revenues			Amount			Revenues
Operating revenues	$	1,922,437			100.00	%	$	1,404,450			100.00	%
Operating expenses:
Data and product costs		565,056			29.39	%		447,743			31.88	%
Selling, general and administrative expenses		1,304,604			67.86	%		921,497			65.61	%
Depreciation and amortization		25,337			1.32	%		20,471			1.46	%
Total operating expenses		1,894,997			98.57	%		1,389,711			98.95	%
Income from operations		27,440			1.43	%		14,739			1.05	%
Other income (expense)		(12,199	)		(0.64	%)		8,738			0.62	%
Interest expense		(7	)		0.00	%		(2,528	)		(0.18	%)
Income before income taxes		15,234			0.79	%		20,949			1.49	%
Provision for income taxes		1,030			0.05	%		467			0.03	%
Net income	$	14,204			0.74	%	$	20,482			1.46	%

Operating revenues increased 37% for the three months ended June 30, 2009. This increase was primarily due to an increase in the number of subscribers and increased revenue from existing subscribers to the Company’s Internet subscription service as the market became more aware of the Company’s enhanced service, offset in part by a decrease in the number of subscribers to the Company’s third-party international credit report subscription service.

Data and product costs increased 26% for the second quarter of 2009 compared to the same period of fiscal 2008. This increase was primarily due to higher consulting fees, higher salary and related employee benefits, including the hiring of an additional senior programmer, and the higher cost of third-party content due to the addition of new sources.

Selling, general and administrative expenses increased 42% for the second quarter of fiscal 2009 compared to the same period of fiscal 2008. This increase was primarily due to higher marketing expenses and higher salary and related employee benefit costs, resulting from an increase in commission expense and in the Company’s sales force during the past 12 months. The commissions increase is related to (i) new sales bookings increasing at a much faster rate than the reported increase in operating revenue for this year’s second quarter versus for last year’s second quarter, and (ii) a higher commission rate on new sales under a new commission plan implemented at the beginning of the second quarter of 2008. The Company records the full commission expense at the beginning of new or renewal contracts but reflects operating revenue ratably over the term of the contract.

Depreciation and amortization increased 24% for the second quarter of fiscal 2009 compared to the same period of fiscal 2008. This increase is due to a higher depreciable asset base reflecting the replacement of computer equipment that had been in operation past its depreciable life.

10

Other income decreased 240% for second quarter of fiscal 2009 compared to the same period last year. This decrease was due to a negative mark-to-market adjustment for marketable securities owned during the quarter and a decrease in interest rates.

Interest expense decreased 100% for the second quarter of fiscal 2009 compared to the same period of fiscal 2008 due to the Company prepaying its long-term debt in April 2008.

	Six Months Ended June 30,
	2009						2008
				% of Total						% of Total
				Operating						Operating
	Amount			Revenues			Amount			Revenues
Operating revenues	$	3,665,563			100.00	%	$	2,769,640			100.00	%
Operating expenses:
Data and product costs		1,065,498			29.07	%		878,971			31.73	%
Selling, general and administrative expenses		2,539,495			69.28	%		1,813,743			65.49	%
Depreciation and amortization		48,992			1.33	%		38,010			1.37	%
Total operating expenses		3,653,985			99.68	%		2,730,724			98.59	%
Income from operations		11,578			0.32	%		38,916			1.41	%
Other income		10,350			0.28	%		33,464			1.21	%
Interest expense		(7	)		(0.00	%)		(9,773	)		(0.35	%)
Income before income taxes		21,921			0.60	%		62,607			2.27	%
Provision for income taxes		2,493			0.07	%		2,357			0.09	%
Net income	$	19,428			0.53	%	$	60,250			2.18	%

Operating revenues increased 32% for the six months ended June 30, 2009 versus the first six months of 2008. This increase was primarily due to an increase in the number of subscribers and increased revenue from existing subscribers to the Company’s Internet subscription service as the market became more aware of the Company’s enhanced service, offset in part by a decrease in the number of subscribers to the Company’s third-party international credit report subscription service.

Data and product costs increased 21% for the first six months of fiscal 2009 compared to the same period of fiscal 2008. This increase was primarily due to higher salary and related employee benefits, including the hiring of an additional senior programmer, higher consulting fees as well as the cost of new third-party content added to the Company’s website.

Selling, general and administrative expenses increased 40% for the first six months of fiscal 2009 compared to the same period of fiscal 2008. This increase was primarily due to higher marketing expenses and higher salary and related employee benefit costs, resulting from an increase in commission expense and in the Company’s sales force during the past 12 months. The commissions increase is related to (i) new sales bookings increasing at a much faster rate than the reported increase in operating revenue for this year’s year-to-date period versus for last year’s year-to-date period, and (ii) a higher commission rate on new sales under a new commission plan implemented at the beginning of the second quarter of 2008. The Company records the full commission expense at the beginning of new or renewal contracts but reflects operating revenue ratably over the term of the contract.

11

Depreciation and amortization increased by 29% for the first six months of fiscal 2009 compared to the same period of fiscal 2008. This increase is due to a higher depreciable asset base reflecting the replacement of computer equipment that had been in operation past its depreciable life.

Other income decreased 69% for the first six months of fiscal 2009 compared to the same period last year. This decrease was due to a negative mark-to-market adjustment for marketable securities owned during the period and a decrease in interest rates.

Interest expense decreased 100% for the first six months of fiscal 2009 compared to the same period of fiscal 2008. This decrease was primarily due to the Company prepaying its long-term debt in April 2008.

FUTURE OPERATIONS

The Company over time intends to expand its operations by expanding the breadth and depth of its product and service offerings and introducing new and complementary products. Gross margins attributable to new business areas may be lower than those associated with the Company’s existing business activities.

Due to the evolving nature of the markets in which it competes, the Company’s ability to accurately forecast its revenues, gross profits and operating expenses as a percentage of net sales is limited. The Company’s current and future expense levels are based largely on its investment plans and estimates of future revenues. To a large extent these costs do not vary with revenue. Sales and operating results generally depend on the Company’s ability to attract and retain customers and the volume of and timing of customer subscriptions for the Company’s services, which are difficult to forecast. The Company may be unable to adjust spending in a timely manner to compensate for any unexpected revenue shortfall. Accordingly, any significant shortfall in revenues in relation to the Company’s planned expenditures would have an immediate adverse effect on the Company’s business, prospects, financial condition and results of operations. Further, as a strategic response to changes in the competitive environment, the Company may from time to time make certain pricing, service, marketing or acquisition decisions that could have a material adverse effect on its business, prospects, financial condition and results of operations.

Achieving greater profitability depends on the Company’s ability to generate and sustain increased revenue levels. The Company believes that its success will depend in large part on its ability to (i) increase its brand awareness, (ii) provide its customers with outstanding value, thus encouraging customer renewals, and (iii) achieve sufficient sales volume to realize economies of scale. Accordingly, the Company intends to continue to increase the size of its sales force, invest in product development, operating infrastructure, marketing and promotion. There can be no assurance that the Company will be able to achieve these objectives within a meaningful time frame.

The Company expects to experience significant fluctuations in its future quarterly operating results due to a variety of factors, some of which are outside the Company’s control. Factors that may adversely affect the Company’s quarterly operating results include, among others, (i) the Company’s ability to retain existing customers, attract new customers at a steady rate and maintain customer satisfaction, (ii) the Company’s ability to maintain gross margins in its existing business and in future product lines and markets, (iii) the development of new services and products by the Company and its competitors, (iv) price competition, (v) the level of use of the Internet and online services and increasing acceptance of the Internet and other online services for the purchase of products such as those offered by the Company, (vi) the Company’s ability to upgrade and develop its systems and infrastructure, (vii) the Company’s ability to attract new personnel in a timely and effective manner, (viii) the level of traffic on the Company’s website, (ix) the Company’s ability to manage effectively its development of new business segments and markets, (x) the Company’s ability to successfully manage the integration of operations and technology of acquisitions or other business combinations, (xi) technical difficulties, system downtime or Internet brownouts, (xii) the amount and timing of operating costs and capital expenditures relating to expansion of the Company’s business, operations and infrastructure, (xiii) governmental regulation and taxation policies, (xiv) disruptions in service by common carriers due to strikes or otherwise, (xv) risks of fire or other casualty, (xvi) litigation costs or other unanticipated expenses, (xvii) interest rate risks and inflationary pressures, and (xviii) general economic conditions and economic conditions specific to the Internet and online commerce.

12

Due to the foregoing factors and the Company’s limited forecasting abilities, the Company believes that period-to-period comparisons of its revenues and operating results are not necessarily meaningful and should not be relied on as an indication of future performance.

FORWARD-LOOKING STATEMENTS

This Quarterly Report on Form 10-Q may contain forward-looking statements, including statements regarding future prospects, industry trends, competitive conditions and litigation issues. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, the words “believes”, “expects”, “anticipates”, “plans” or words of similar meaning are intended to identify forward-looking statements. This notice is intended to take advantage of the “safe harbor” provided by the Private Securities Litigation Reform Act of 1995 with respect to such forward-looking statements. These forward-looking statements involve a number of risks and uncertainties. Among others, factors that could cause actual results to differ materially from the Company’s beliefs or expectations are those listed under “Results of Operations” and other factors referenced herein or from time to time as “risk factors” or otherwise in the Company’s Registration Statements or Securities and Exchange Commission reports.

Item 4T. Controls and Procedures

The Company’s management, with the participation of the Company’s Chief Executive Officer and Chief Financial Officer, has evaluated the effectiveness of the Company’s disclosure controls and procedures (as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended) as of the end of the period covered by this report. Based on that evaluation, the Company’s Chief Executive Officer and Chief Financial Officer have concluded that, as of the end of such period, the Company’s disclosure controls and procedures are effective.

There have not been any changes in the Company’s internal control over financial reporting (as such term is defined in Rules 13a-15(f) and 15d-15(f) under the Securities Exchange Act of 1934, as amended) during our most recent fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting.

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PART II. OTHER INFORMATION

Item 6. Exhibits

31.1 Certification of Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

31.2 Certification of Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

32.1 Certification of Chief Executive Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

32.2 Certification of Chief Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	CREDITRISKMONITOR.COM, INC.
	(REGISTRANT)
Date: August 7, 2009	By:	/s/ Lawrence Fensterstock
		Lawrence Fensterstock
		Chief Financial Officer

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EX-31.1

EXHIBIT 31.1

CERTIFICATION OF CHIEF EXECUTIVE OFFICER PURSUANT

TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Jerome S. Flum, certify that:

1.   I have reviewed this quarterly report on Form 10-Q of CreditRiskMonitor.com, Inc.;

2.   Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.   Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.   The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rule 13a-15(f) and 15d-15(f) for the registrant and have:

a)   Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)   Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c)   Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d)   Disclosed in this report any change in the registrant’s internal controls over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.   The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent function):

a)   All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b)   Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal controls over financial reporting.

Date:August 7, 2009	By:	/s/	Jerome S. Flum
			Jerome S. Flum
			Chief Executive Officer

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EX-31.2

EXHIBIT 31.2

CERTIFICATION OF CHIEF FINANCIAL OFFICER PURSUANT

TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Lawrence Fensterstock, certify that:

1.   I have reviewed this quarterly report on Form 10-Q of CreditRiskMonitor.com, Inc.;

2.   Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.   Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.   The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rule 13a-15(f) and 15d-15(f) for the registrant and have:

a)   Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

a)   Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

b)   Disclosed in this report any change in the registrant’s internal controls over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent function):

a)   All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b)   Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal controls over financial reporting.

Date:August 7, 2009	By:	/s/	Lawrence Fensterstock
			Lawrence Fensterstock
			Chief Financial Officer

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EX-32.1

EXHIBIT 32.1

CERTIFICATION OF CHIEF EXECUTIVE OFFICER PURSUANT TO

18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of CreditRiskMonitor.com, Inc. (“CRM”) on Form 10-Q for the period ended June 30, 2009, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Jerome S. Flum, Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge:

(1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

By:	/s/	Jerome S. Flum
		Jerome S. Flum
		Chief Executive Officer

August 7, 2009

This certification is being furnished to the SEC with this Report pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and shall not, except to the extent required by such Act, be deemed filed by the Company for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to liability of that section.

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EX-32.2

EXHIBIT 32.2

CERTIFICATION OF CHIEF FINANCIAL OFFICER PURSUANT TO

18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of CreditRiskMonitor.com, Inc. (“CRM”) on Form 10-Q for the period ended June 30, 2009, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Lawrence Fensterstock, Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge:

(1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

By:	/s/	Lawrence Fensterstock
		Lawrence Fensterstock
		Chief Financial Officer

August 7, 2009

This certification is being furnished to the SEC with this Report pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and shall not, except to the extent required by such Act, be deemed filed by the Company for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to liability of that section.

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