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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☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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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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☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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Common Stock, par value $.01
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CRMZ
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OTC Markets OTCQX U.S.
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Item 2.02 |
Results of Operations and Financial Condition.
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Item 9.01 |
Financial Statements and Exhibits.
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Exhibit No.
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Description
|
|
Press Release dated August 6, 2019.
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CREDITRISKMONITOR.COM, INC.
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||||
Date: August 6, 2019
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By:
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/s/
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Lawrence Fensterstock | |
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Lawrence Fensterstock
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|||
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Chief Financial Officer
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|||
(Principal Financial and Accounting Officer)
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3 Months Ended
June 30,
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6 Months Ended
June 30,
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|||||||||||||||
2019
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2018
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2019
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2018
|
|||||||||||||
Operating revenues
|
$
|
3,567,531
|
$
|
3,477,823
|
$
|
7,063,340
|
$
|
6,849,747
|
||||||||
Operating expenses:
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||||||||||||||||
Data and product costs
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1,426,497
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1,413,694
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2,895,490
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2,897,685
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||||||||||||
Selling, general and administrative expenses
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2,147,733
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2,150,490
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4,315,144
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4,338,614
|
||||||||||||
Depreciation and amortization
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50,045
|
42,039
|
101,034
|
89,087
|
||||||||||||
Total operating expenses
|
3,624,275
|
3,606,223
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7,311,668
|
7,325,386
|
||||||||||||
Loss from operations
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(56,744
|
)
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(128,400
|
)
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(248,328
|
)
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(475,639
|
)
|
||||||||
Other income, net
|
43,209
|
30,602
|
84,099
|
51,644
|
||||||||||||
Loss before income taxes
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(13,535
|
)
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(97,798
|
)
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(164,229
|
)
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(423,995
|
)
|
||||||||
Benefit from income taxes
|
2,005
|
10,961
|
16,231
|
81,722
|
||||||||||||
Net loss
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$
|
(11,530
|
)
|
$
|
(86,837
|
)
|
$
|
(147,998
|
)
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$
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(342,273
|
)
|
||||
Net loss per share:
|
||||||||||||||||
Basic and diluted
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$
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(0.00
|
)
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$
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(0.01
|
)
|
$
|
(0.01
|
)
|
$
|
(0.03
|
)
|
June 30,
2019
|
December 31,
2018
|
|||||||
(Unaudited)
|
||||||||
ASSETS
|
||||||||
Current assets:
|
||||||||
Cash and cash equivalents
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$
|
8,403,179
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$
|
8,066,899
|
||||
Accounts receivable, net of allowance
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1,928,960
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2,454,585
|
||||||
Other current assets
|
832,965
|
561,861
|
||||||
Total current assets
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11,165,104
|
11,083,345
|
||||||
Property and equipment, net
|
554,820
|
543,762
|
||||||
Operating lease right-of-use asset
|
2,469,025
|
--
|
||||||
Goodwill
|
1,954,460
|
1,954,460
|
||||||
Other assets
|
31,607
|
35,613
|
||||||
Total assets
|
$
|
16,175,016
|
$
|
13,617,180
|
||||
LIABILITIES AND STOCKHOLDERS’ EQUITY
|
||||||||
Current liabilities:
|
||||||||
Unexpired subscription revenue
|
$
|
8,860,837
|
$
|
8,560,316
|
||||
Accounts payable
|
126,553
|
94,767
|
||||||
Current portion of operating lease liability
|
140,217
|
--
|
||||||
Accrued expenses
|
1,131,349
|
1,311,218
|
||||||
Total current liabilities
|
10,258,956
|
9,966,301
|
||||||
Deferred taxes on income, net
|
473,194
|
490,381
|
||||||
Unexpired subscription revenue, less current portion
|
229,524
|
178,129
|
||||||
Operating lease liability, less current portion
|
2,375,451
|
--
|
||||||
Other liabilities
|
--
|
24,537
|
||||||
Total liabilities
|
13,337,125
|
10,659,348
|
||||||
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
|
29,678,817
|
29,650,760
|
||||||
Accumulated deficit
|
(26,948,150
|
)
|
(26,800,152
|
)
|
||||
Total stockholders’ equity
|
2,837,891
|
2,957,832
|
||||||
|
||||||||
Total liabilities and stockholders’ equity
|
$
|
16,175,016
|
$
|
13,617,180
|