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 9, 2018

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))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17CFR §240.12b-2).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

Item 2.02. Results of Operations and Financial Condition.

On May 9, 2018, CreditRiskMonitor.com, Inc. issued a press release relating to, among other things, its financial results for the quarter ended March 31, 2018. 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 9, 2018.

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 9, 2018	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 9, 2017—CreditRiskMonitor (OTCQX: CRMZ) reported that for the 3 months ended March 31, 2018 revenues increased 4% to $3.37 million compared to $3.24 million in last year’s first quarter. Net loss for the quarter was approximately $255,400 compared to a net loss of approximately $244,300 in the prior year period. Cash and cash equivalents decreased approximately $15,300 since 2017 year-end, to $8.72 million, and was down $123,700 from the balance at March 31, 2017.

Jerry Flum, CEO, said, “The Company is committed to its philosophy of investing in new products, such as private company Financial Statement Sourcing (launched 4Q 2017) and the PAYCE™ private company neural network score (launched 1Q 2018), as well as our other marketing efforts. We’re still debt free and our strong cash position will allow us to implement these marketing initiatives.”

CREDITRISKMONITOR.COM, INC.

STATEMENTS OF OPERATIONS

FOR THE 3 MONTHS ENDED MARCH 31, 2018 AND 2017

(Unaudited)

	2018			2017
Operating revenues	$	3,371,924		$	3,236,250
Operating expenses:
Data and product costs		1,483,991			1,396,160
Selling, general and administrative expenses		2,188,124			2,113,245
Depreciation and amortization		47,048			50,006
Total operating expenses		3,719,163			3,559,411
Loss from operations		(347,239	)		(323,161	)
Other income, net		21,042			4,807
Loss before income taxes		(326,197	)		(318,354	)
Benefit from income taxes		70,761			74,061
	$	(255,436	)	$	(244,293	)
Net loss
Net loss per common share of stock:
Basic and diluted	$	(0.02	)	$	(0.02	)
Weighted average number of common shares outstanding:
Basic and diluted		10,722,401			10,722,401

CREDITRISKMONITOR.COM, INC.

BALANCE SHEETS

MARCH 31, 2018 AND DECEMBER 31, 2017

	March 31, 2018			Dec. 31, 2017
	(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents	$	8,719,826		$	8,735,148
Accounts receivable, net of allowance		1,974,655			2,139,707
Other current assets		504,928			530,699
Total current assets		11,199,409			11,405,554
Property and equipment, net		399,426			437,216
Goodwill		1,954,460			1,954,460
Other assets		49,768			23,463
Total assets	$	13,603,063		$	13,820,693
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Deferred revenue	$	8,893,546		$	8,304,877
Accounts payable		145,578			58,901
Accrued expenses		756,506			1,344,526
Total current liabilities		9,795,630			9,708,304
Deferred taxes on income, net		439,281			514,333
Other liabilities		15,787			15,748
Total liabilities		10,250,698			10,238,385
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 shares		107,224			107,224
Additional paid-in capital		29,585,277			29,559,784
Accumulated deficit		(26,340,136	)		(26,084,700	)
Total stockholders’ equity		3,352,365			3,582,308
Total liabilities and stockholders’ equity	$	13,603,063		$	13,820,693

Overview

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 $130 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® and PAYCE^TM scores.

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.