8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported)

May 11, 2016

CreditRiskMonitor.com, Inc.

(Exact name of registrant as specified in its charter)

Nevada	1-8601	36-2972588
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

704 Executive Boulevard

Valley Cottage, NY 10989

(Address of principal executive offices, including zip code)

(845) 230-3000

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02. Results of Operations and Financial Condition.

On May 11, 2016, CreditRiskMonitor.com, Inc. issued a press release relating to, among other things, its financial results for the quarter ended March 31, 2016. This press release is filed as Exhibit 99.1 to this Current Report on Form 8-K.

The information contained in this Item 2.02 and Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.	Description
99.1	Press Release dated May 11, 2016.

SIGNATURE

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 hereunto duly authorized.

	CREDITRISKMONITOR.COM, INC.
Date: May 11, 2016	By:	/s/ Lawrence Fensterstock
		Lawrence Fensterstock
		Chief Financial Officer
		(Principal Financial and Accounting Officer)

EX-99.1

Exhibit 99.1

NEWS RELEASE

CONTACT:

CreditRiskMonitor.com, Inc.

Jerry Flum, CEO

(845) 230-3030

ir@creditriskmonitor.com

FOR IMMEDIATE RELEASE

CreditRiskMonitor Announces 1Q Results

VALLEY COTTAGE, NY—May 11, 2016—CreditRiskMonitor (OTCQX: CRMZ) reported that for the 3 months ended March 31, 2016 revenues increased 2% to $3.12 million compared to $3.07 million in last year’s first quarter. Net loss for the quarter was approximately $90,300 compared to net income of approximately $36,500 in the prior year period. Cash, cash equivalents and marketable securities decreased approximately $81,200 since 2015 year-end, to $8.88 million.

Jerry Flum, CEO, said, “The quarter was impacted by a planned increase in our marketing expenses as part of our 2016 plan to drive increased traffic to the Company’s website, and improve customers’ experience using the website. This is the Company’s first significant marketing campaign and it includes investment in a substantial redesign of our website, which was launched early in the second quarter. The Company remains debt free and our strong cash position allows us to undertake these initiatives.”

CREDITRISKMONITOR.COM, INC.

STATEMENTS OF OPERATIONS

FOR THE 3 MONTHS ENDED MARCH 31, 2016 AND 2015

(Unaudited)

	2016			2015
Operating revenues	$	3,117,143		$	3,070,206
Operating expenses:
Data and product costs		1,255,792			1,229,736
Selling, general and administrative expenses		1,970,439			1,730,813
Depreciation and amortization		50,626			52,747
Total operating expenses		3,276,857			3,013,296
Income (loss) from operations		(159,714	)		56,910
Other income, net		17,911			4,956
Income (loss) before income taxes		(141,803	)		61,866
Benefit from (provision for) income taxes		51,477			(25,345	)
Net income (loss)	$	(90,326	)	$	36,521
Net income (loss) per common share of stock:
Basic	$	(0.01	)	$	0.00
Diluted	$	(0.01	)	$	0.00
Weighted average number of common shares outstanding:
Basic		10,722,321			10,481,065
Diluted		10,722,321			10,702,721

CREDITRISKMONITOR.COM, INC.

BALANCE SHEETS

MARCH 31, 2016 AND DECEMBER 31, 2015

	March 31, 2016			Dec. 31, 2015
	(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents	$	8,620,077		$	8,717,899
Marketable securities		262,135			245,474
Accounts receivable, net of allowance		2,032,343			1,927,428
Other current assets		1,089,352			749,925
Total current assets		12,003,907			11,640,726
Property and equipment, net		469,881			395,026
Goodwill		1,954,460			1,954,460
Other assets		62,460			33,999
Total assets	$	14,490,708		$	14,024,211
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Deferred revenue	$	8,026,551		$	7,436,764
Accounts payable		60,786			78,267
Accrued expenses		1,185,154			1,241,317
Total current liabilities		9,272,491			8,756,348
Deferred taxes on income		806,161			806,161
Other liabilities		6,902			4,314
Total liabilities		10,085,554			9,566,823
Stockholders’ equity:
Preferred stock, $.01 par value; authorized 5,000,000 shares; none issued		-			-
Common stock, $.01 par value; authorized 32,500,000 shares; issued and outstanding 10,722,321 shares		107,223			107,223
Additional paid-in capital		29,511,937			29,473,845
Accumulated deficit		(25,214,006	)		(25,123,680	)
Total stockholders’ equity		4,405,154			4,457,388
Total liabilities and stockholders’ equity	$	14,490,708		$	14,024,211

Overview

CreditRiskMonitor (http://www.crmz.com) is a Web-based publisher of financial information, designed to save time and help busy corporate credit and procurement professionals manage risk. The service offers comprehensive commercial credit reports covering public companies worldwide. Over 35% of the Fortune 1,000 already use CreditRiskMonitor’s timely news alerts and reports that feature detailed analyses of financial statements, ratio analysis and trend reports, peer analyses, bond agency ratings, as well as the Company’s  proprietary FRISK^® scores, which have been proven predictive in anticipating corporate financial stress, including bankruptcy.

Safe Harbor Statement

Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, expectations or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. More information about these risks, uncertainties and factors can be found in the “Risk Factors” of the Company’s Registration Statements or Securities and Exchange Commission Reports. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, a future event, or otherwise.