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)

March 20, 2017

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)

Not Applicable

(Former name or former address, if changed since last report)

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 March 20, 2017, CreditRiskMonitor.com, Inc. issued a press release relating to, among other things, its financial results for the year ended December 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 March 20, 2017.

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: March 20, 2017	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 2016 Operating Results

VALLEY COTTAGE, NY—March 20, 2017—CreditRiskMonitor (OTCQX: CRMZ) reported that revenues for the year ended December 31, 2016 increased 3% to $12.81 million compared to fiscal 2015. Net income for fiscal 2016 was approximately $52,400 compared to $513,200 in the prior year. Cash, cash equivalents and marketable securities at the end of 2016 increased to $9.22 million from the 2015 year-end balance of $8.96 million.

Jerry Flum, CEO, said, “2016’s reported earnings were negatively impacted by our decision to increase our investment in new marketing infrastructure and programs. The head of this marketing effort resigned mid-year, and this initiative fell short of our 2016 plans. We have hired a new marketing leader, and expect to see the positive impact of this investment in 2018. We’re still debt-free and our strong balance sheet provides us with financial flexibility to manage our company for long-term results.”

CREDITRISKMONITOR.COM, INC.

STATEMENTS OF INCOME

FOR THE YEARS ENDED DECEMBER 31, 2016 AND 2015

	2016			2015
Operating revenues	$	12,814,390		$	12,486,316
Operating expenses:
Data and product costs		4,944,053			4,665,360
Selling, general and administrative expenses		7,495,742			6,685,528
Depreciation and amortization		200,136			218,621
Total operating expenses		12,639,931			11,569,509
Income from operations		174,459			916,807
Other income, net		27,183			2,344
Income before income taxes		201,642			919,151
Provision for income taxes		(149,199	)		(405,965	)
Net income	$	52,443		$	513,186
Net income per share of common stock:
Basic	$	0.00		$	0.05
Diluted	$	0.00		$	0.05

CREDITRISKMONITOR.COM, INC.

BALANCE SHEETS

DECEMBER 31, 2016 AND 2015

	2016			2015
ASSETS
Current assets:
Cash and cash equivalents	$	9,222,343		$	8,717,899
Marketable securities		--			245,474
Accounts receivable, net of allowance of $30,000		2,090,676			1,927,428
Other current assets		487,257			555,871
Total current assets		11,800,276			11,446,672
Property and equipment, net		430,324			395,026
Goodwill		1,954,460			1,954,460
Other assets		23,763			33,999
Total assets	$	14,208,823		$	13,830,157
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Deferred revenue	$	8,088,958		$	7,436,764
Accounts payable		96,725			78,267
Accrued expenses		1,282,126			1,241,317
Total current liabilities		9,467,809			8,756,348
Deferred taxes on income, net		762,403			759,454
Other liabilities		12,574			4,314
Total liabilities		10,242,786			9,520,116
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 10,722,401 and  10,722,321 shares, respectively		107,224			107,223
Additional paid-in capital		29,419,463			29,279,791
Accumulated deficit		(25,560,650	)		(25,076,973	)
Total stockholders’ equity		3,966,037			4,310,041
Total liabilities and stockholders’ equity	$	14,208,823		$	13,830,157

About CreditRiskMonitor

CreditRiskMonitor (http://www.crmz.com) is a web-based publisher of financial information that helps corporate credit and procurement professionals stay ahead of business financial risk quickly, accurately and cost effectively. The service offers comprehensive commercial credit reports 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.

The Company also collects more than $100 billion of trade receivable data on both public and a select group of private companies every month, to help subscribers determine payment performance.

Over 35% of the Fortune 1000 depend 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.