Nevada
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1-8601
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36-2972588
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(State or other jurisdiction of incorporation)
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(Commission File Number)
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(IRS Employer Identification No.)
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o
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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o
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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CREDITRISKMONITOR.COM, INC. | |||
Date: November 8, 2012
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By:
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/s/ Lawrence Fensterstock | |
Lawrence Fensterstock
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Chief Financial Officer
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(Principal Financial and
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Accounting Officer)
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3 Months Ended
September 30,
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9 Months Ended
September 30,
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2012
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2011
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2012
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2011
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Operating revenues
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$ | 2,822,056 | $ | 2,580,339 | $ | 8,207,538 | $ | 7,559,650 | ||||||||
Operating expenses:
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||||||||||||||||
Data and product costs
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914,186 | 716,226 | 2,777,343 | 2,196,463 | ||||||||||||
Selling, general and administrative expenses
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1,427,830 | 1,572,311 | 4,591,402 | 4,502,063 | ||||||||||||
Depreciation and amortization
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37,880 | 42,753 | 114,436 | 125,482 | ||||||||||||
Total operating expenses
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2,379,896 | 2,331,290 | 7,483,181 | 6,824,008 | ||||||||||||
Income from operations
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442,160 | 249,049 | 724,357 | 735,642 | ||||||||||||
Other income, net
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13,851 | 52,096 | 26,468 | 87,015 | ||||||||||||
Income before income taxes
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456,011 | 301,145 | 750,825 | 822,657 | ||||||||||||
Provision for income taxes
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(182,473 | ) | (72,260 | ) | (312,352 | ) | (254,711 | ) | ||||||||
Net income
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$ | 273,538 | $ | 228,885 | $ | 438,473 | $ | 567,946 | ||||||||
Net income per share:
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Basic
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$ | 0.03 | 0.03 | $ | $0.06 | $ | 0.07 | |||||||||
Diluted
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$ | 0.03 | $ | 0.03 | $ | 0.05 | $ | 0.07 |
Sept. 30,
2012
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Dec. 31,
2011
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(Unaudited)
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ASSETS
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Current assets:
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Cash and cash equivalents
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$ | 7,689,332 | $ | 6,531,204 | ||||
Marketable securities
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1,754,534 | 1,753,072 | ||||||
Accounts receivable, net of allowance
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1,244,477 | 1,551,213 | ||||||
Other current assets
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264,705 | 451,143 | ||||||
Total current assets
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10,953,048 | 10,286,632 | ||||||
Property and equipment, net
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281,599 | 306,810 | ||||||
Goodwill
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1,954,460 | 1,954,460 | ||||||
Prepaid and other assets
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51,892 | 23,232 | ||||||
Total assets
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$ | 13,240,999 | $ | 12,571,134 | ||||
LIABILITIES AND STOCKHOLDERS’ EQUITY
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Current liabilities:
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Deferred revenue
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$ | 6,620,644 | $ | 6,471,494 | ||||
Accounts payable
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86,022 | 60,941 | ||||||
Accrued expenses
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735,901 | 1,087,163 | ||||||
Accrued income taxes
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430,676 | 157,385 | ||||||
Total current liabilities
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7,873,243 | 7,776,983 | ||||||
Other liabilities
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5,108 | 3,714 | ||||||
Total liabilities
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7,878,351 | 7,780,697 | ||||||
Stockholders’ equity:
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||||||||
Preferred stock, $.01 par value; authorized 5,000,000 shares; none issued
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-- | -- | ||||||
Common stock, $.01 par value; authorized 25,000,000 shares; issued and outstanding 7,943,462 and 7,920,462 shares, respectively
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79,434 | 79,204 | ||||||
Additional paid-in capital
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28,731,187 | 28,597,679 | ||||||
Accumulated deficit
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(23,447,973 | ) | (23,886,446 | ) | ||||
Total stockholders’ equity
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5,362,648 | 4,790,437 | ||||||
Total liabilities and stockholders’ equity
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$ | 13,240,999 | $ | 12,571,134 |