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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o
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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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o
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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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Item 2.02.
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Results of Operations and Financial Condition.
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Item 9.01
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Financial Statements and Exhibits.
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Exhibit No.
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Description
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Press Release dated March 14, 2013.
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CREDITRISKMONITOR.COM, INC.
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Date: March 14, 2013
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By:
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/s/ Lawrence Fensterstock
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Lawrence Fensterstock
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Chief Financial Officer
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(Principal Financial and Accounting Officer)
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2012
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2011
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|||||||
Operating revenues
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$ | 11,062,619 | $ | 10,154,200 | ||||
Operating expenses:
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||||||||
Data and product costs
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3,731,218 | 3,310,779 | ||||||
Selling, general and administrative expenses
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6,206,917 | 5,468,802 | ||||||
Depreciation and amortization
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150,069 | 162,482 | ||||||
Total operating expenses
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10,088,204 | 8,942,063 | ||||||
Income from operations
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974,415 | 1,212,137 | ||||||
Other income, net
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21,945 | 98,592 | ||||||
Income before income taxes
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996,360 | 1,310,729 | ||||||
Provision for income taxes
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(466,543 | ) | (402,140 | ) | ||||
Net income
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$ | 529,817 | $ | 908,589 | ||||
Net income per share of common stock:
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||||||||
Basic
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$ | 0.07 | $ | 0.11 | ||||
Diluted
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$ | 0.06 | $ | 0.11 |
2012
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2011
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|||||||
ASSETS
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||||||||
Current assets:
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||||||||
Cash and cash equivalents
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$ | 6,422,458 | $ | 6,531,204 | ||||
Marketable securities
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1,725,633 | 1,753,072 | ||||||
Accounts receivable, net of allowance of $30,000
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1,776,151 | 1,551,213 | ||||||
Other current assets
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548,838 | 451,143 | ||||||
Total current assets
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10,473,080 | 10,286,632 | ||||||
Property and equipment, net
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260,438 | 306,810 | ||||||
Goodwill
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1,954,460 | 1,954,460 | ||||||
Other assets
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21,970 | 23,232 | ||||||
Total assets
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$ | 12,709,948 | $ | 12,571,134 | ||||
LIABILITIES AND STOCKHOLDERS’ EQUITY
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||||||||
Current liabilities:
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||||||||
Deferred revenue
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$ | 6,978,797 | $ | 6,471,494 | ||||
Accounts payable
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44,097 | 60,941 | ||||||
Accrued expenses
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1,161,498 | 1,087,163 | ||||||
Total current liabilities
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8,184,392 | 7,619,598 | ||||||
Deferred taxes on income
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591,355 | 157,385 | ||||||
Other liabilities
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5,190 | 3,714 | ||||||
Total liabilities
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8,780,937 | 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, $.01 par value; authorized 25,000,000 shares; issued and outstanding 7,946,462 and 7,920,462 shares, respectively
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79,464 | 79,204 | ||||||
Additional paid-in capital
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28,795,496 | 28,597,679 | ||||||
Accumulated deficit
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(24,945,949 | ) | (23,886,446 | ) | ||||
Total stockholders’ equity
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3,929,011 | 4,790,437 | ||||||
Total liabilities and stockholders’ equity
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$ | 12,709,948 | $ | 12,571,134 |