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)

August 8, 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 August 8, 2016, CreditRiskMonitor.com, Inc. issued a press release relating to, among other things, its financial results for the three and six months ended June 30, 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 August 8, 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: August 8, 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 2Q Results

VALLEY COTTAGE, NY—August 8, 2016—CreditRiskMonitor (OTCQX: CRMZ) reported that revenues increased 2% for both the 3 and 6 months ended June 30, 2016, to $3.18 million and $6.29 million, respectively. Net loss the periods was approximately ($20,700) and ($111,000), respectively, compared net income of $135,100 and $171,600 for the comparable 2015 periods. Cash, cash equivalents and marketable securities at the end of the six-month period increased approximately $600,100 to $9.56 million from the 2015 year-end balance of $8.96 million.

Jerry Flum, CEO said, “This year’s operating results continue to be impacted by planned incremental marketing expenditures that are an integral component of our initiative to drive increased traffic to our website. Our redesigned website launched early in the second quarter and to date the results are measuring up to our expectations. We remain debt free and will continue to invest in these marketing programs.”

CREDITRISKMONITOR.COM, INC.

STATEMENTS OF OPERATIONS

FOR THE 3 AND 6 MONTHS ENDED JUNE 30, 2016 AND 2015

(Unaudited)

	3 Months Ended June 30,						6 Months Ended June 30,
	2016			2015			2016			2015
Operating revenues	$	3,175,632		$	3,107,106		$	6,292,775		$	6,177,312
Operating expenses:
Data and product costs		1,172,669			1,170,236			2,428,461			2,399,972
Selling, general and administrative expenses		2,003,244			1,639,430			3,973,683			3,370,243
Depreciation and amortization		48,506			60,438			99,132			113,185
Total operating expenses		3,224,419			2,870,104			6,501,276			5,883,400
Income (loss) from operations		(48,787	)		237,002			(208,501	)		293,912
Other income, net		16,270			738			34,181			5,694
Income (loss) before income taxes		(32,517	)		237,740			(174,320	)		299,606
Benefit from (provision for) income taxes		11,863			(102,667	)		63,340			(128,012	)
Net income (loss)	$	(20,654	)	$	135,073		$	(110,980	)	$	171,594
Net income (loss) per share:
Basic and diluted	$	(0.00	)	$	0.01		$	(0.01	)	$	0.02
Weighted average number of
shares outstanding:
Basic		10,722,321			10,612,293			10,722,321			10,546,679
Diluted		10,722,321			10,803,489			10,722,321			10,753,105

CREDITRISKMONITOR.COM, INC.

BALANCE SHEETS

JUNE 30, 2016 AND DECEMBER 31, 2015

	June 30, 2016			Dec. 31, 2015
	(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents	$	9,286,932		$	8,717,899
Marketable securities		276,587			245,474
Accounts receivable, net of allowance		1,555,259			1,927,428
Other current assets		911,709			749,925
Total current assets		12,030,487			11,640,726
Property and equipment, net		437,971			395,026
Goodwill		1,954,460			1,954,460
Other assets		51,293			33,999
Total assets	$	14,474,211		$	14,024,211
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Deferred revenue	$	7,958,319		$	7,436,764
Accounts payable		132,985			78,267
Accrued expenses		1,159,658			1,241,317
Total current liabilities		9,250,962			8,756,348
Deferred taxes on income		790,464			806,161
Other liabilities		9,490			4,314
Total liabilities		10,050,916			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		29,550,732			29,473,845
Accumulated deficit		(25,234,660	)		(25,123,680	)
Total stockholders’ equity		4,423,295			4,457,388
Total liabilities and stockholders’ equity	$	14,474,211		$	14,024,211

Overview

CreditRiskMonitor (http://www.creditriskmonitor.com) is a web-based publisher and aggregator of financial information that helps corporate credit and procurement professionals stay ahead of and manage financial risk quickly, accurately and cost effectively. The service offers comprehensive commercial credit and financial risk analysis covering public companies worldwide. Unlike other commercial credit bureaus like Dun & Bradstreet, CreditRiskMonitor’s primary expertise and focus is on financial analysis of public debt and equity companies.

Additionally, the Company collects from subscribers more than $100 billion of trade receivable data on both public and a select group of private companies every month.

Over 35% of the Fortune 1000 depends on CreditRiskMonitor's timely news alerts and reports featuring detailed analyses of financial statements, ratio analysis and trend reports, peer analyses, bond agency ratings, as well as the company's proprietary FRISK® score.

Safe Harbor Statement

Certain statements in this press release, including statements prefaced by the words "anticipates", "estimates", “believes", "expects" or words of similar meaning, 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, including, among others, those risks, uncertainties and factors referenced from time to time as "risk factors" or otherwise in the Company's Registration Statements or Securities and Exchange Commission Reports. We disclaim any intention or obligation to revise any forward-looking statements, whether as a result of new information, a future event, or otherwise.