10QSB

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-QSB

x QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended: September  30, 2007

o TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT

For the transition period from________to_______

Commission file number 1-8601

CREDITRISKMONITOR.COM, INC.

(Exact name of small business issuer as specified in its charter)

Nevada	36-2972588
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

704 Executive Boulevard, Suite A
Valley Cottage, New York 10989

(Address of principal executive offices)

(845) 230-3000

(Issuer’s telephone number)

Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes x   No o

Indicate by check mark whether the registrant is a shell company (as defined by Rule 12b-2 of the Exchange Act).

Yes o    No x

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY

PROCEEDINGS DURING THE PRECEDING FIVE YEARS

Check whether the registrant filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Exchange Act after the distribution of securities under a plan confirmed by a court.

Yes o   No o

APPLICABLE ONLY TO CORPORATE ISSUERS

State the number of shares outstanding of each of the issuer’s classes of common equity, as of the latest practical date:

Common stock $.01 par value — 7,694,462 shares outstanding as of  October  31, 2007.

Transitional Small Business Disclosure Format (check one): Yes o   No x

CREDITRISKMONITOR.COM, INC.

INDEX

Page

PART I. FINANCIAL INFORMATION

Balance Sheets –  September 30, 2007 (Unaudited) and

December 31, 2006 2

September 30, 2007 and 2006 (Unaudited) 3

Sepetmber  30, 2007 and 2006 (Unaudited) 4

September 30, 2007 and 2006 (Unaudited) 5

Condensed Notes to Financial Statements 6

and Results of Operations 9

Item 3. Controls and Procedures 13

PART II. OTHER INFORMATION

Item 6. Exhibits 14

SIGNATURES 15

EXHIBITS

31.1 Certification of Chief Executive Officer Pursuant to

Section 302 of the Sarbanes-Oxley Act of 2002 16

31.2 Certification of Chief Financial Officer Pursuant to

Section 302 of the Sarbanes-Oxley Act of 2002 18

32.1 Certification of Chief Executive Officer Pursuant to

906 of the Sarbanes-Oxley Act of 2002 20

32.2 Certification of Chief Financial Officer Pursuant to

906 of the Sarbanes-Oxley Act of 2002 21

1

PART I. FINANCIAL INFORMATION

Item 1. Financial Statements

CREDITRISKMONITOR.COM, INC.

BALANCE SHEETS

SEPTEMBER 30, 2007 AND DECEMBER 31, 2006

	Sept.  30, 2007 (Unaudited)			Dec. 31, 2006 (Note 1)
ASSETS
Current assets:
Cash and cash equivalents	$	2,954,452		$	2,467,520
Accounts receivable, net of allowance		633,077			647,484
Other current assets		132,744			297,267
Total current assets		3,720,273			3,412,271
Property and equipment, net		90,051			131,211
Goodwill		1,954,460			1,954,460
Prepaid and other assets		26,196			27,753
Total assets	$	5,790,980		$	5,525,695
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Deferred revenue	$	3,263,004		$	2,985,724
Accounts payable		81,274			78,364
Accrued expenses		243,916			415,645
Current portion of long-term debt		132,694			122,870
Current portion of capitalized lease obligations		—			18,437
Total current liabilities		3,720,888			3,621,040
Long-term debt, net of current portion		186,154			286,940
Other liabilities		67,134			73,392
Total liabilities		3,974,176			3,981,372
Stockholders’ equity:
Preferred stock, $.01 par value; authorized
5,000,000 shares; none issued		—			—
Common stock, $.01 par value; authorized 25,000,000
shares; issued and outstanding 7,694,462 shares		76,944			76,944
Additional paid-in capital		28,208,700			28,177,684
Accumulated deficit		(26,468,840	)		(26,710,305	)
Total stockholders’ equity		1,816,804			1,544,323
Total liabilities and stockholders’ equity	$	5,790,980		$	5,525,695

See accompanying condensed notes to financial statements.

2

CREDITRISKMONITOR.COM, INC.

STATEMENTS OF OPERATIONS

FOR THE THREE MONTHS ENDED SEPTEMBER  30, 2007 AND 2006

(Unaudited)

	2007			2006
Operating revenues	$	1,273,983		$	1,084,838
Operating expenses:
Data and product costs		367,944			316,397
Selling, general and administrative expenses		738,751			678,013
Depreciation and amortization		16,089			16,794
Total operating expenses		1,122,784			1,011,204
Income from operations		151,199			73,634
Other income		25,220			18,349
Interest expense		(8,858	)		(12,674	)
Income before income taxes		167,561			79,309
Provision for income taxes		4,129			517
Net income	$	163,432		$	78,792
Net income per share of common stock:
Basic	$	0.02		$	0.01
Diluted	$	0.02		$	0.01
Weighted average number of common shares
outstanding:
Basic		7,694,462			7,679,462
Diluted		8,144,281			7,933,052

See accompanying condensed notes to financial statements.

3

CREDITRISKMONITOR.COM, INC.

STATEMENTS OF OPERATIONS

FOR THE NINE  MONTHS ENDED SEPTEMBER  30, 2007 AND 2006

(Unaudited)

	2007			2006
Operating revenues	$	3,665,960		$	3,171,089
Operating expenses:
Data and product costs		1,197,246			1,009,400
Selling, general and administrative expenses		2,195,938			2,169,792
Depreciation and amortization		49,416			49,997
Total operating expenses		3,442,600			3,229,189
Income (loss) from operations		223,360			(58,100	)
Other income		62,000			49,713
Interest expense		(29,584	)		(40,824	)
Income (loss) before income taxes		255,776			(49,211	)
Provision for income taxes		14,311			4,262
Net income (loss)	$	241,465		$	(53,473	)
Net income (loss) per share of common stock:
Basic	$	0.03		$	(0.01	)
Diluted	$	0.03		$	(0.01	)
Weighted average number of common shares
outstanding:
Basic		7,694,462			7,679,462
Diluted		8,129,875			7,679,462

See accompanying condensed notes to financial statements.

4

CREDITRISKMONITOR.COM, INC.

STATEMENTS OF CASH FLOWS

FOR THE NINE  MONTHS ENDED SEPTEMBER  30, 2007 AND 2006

(Unaudited)

	2007			2006
Cash flows from operating activities:
Net income (loss)	$	241,465		$	(53,473	)
Adjustments to reconcile net income (loss) to
net cash provided (used) by operating activities:
Depreciation		49,416			49,997
Deferred rent		(426	)		1,725
Stock-based compensation		31,016			22,701
Changes in operating assets and liabilities:
Accounts receivable		14,407			191,171
Other current assets		164,523			31,306
Prepaid and other assets		1,557			7,797
Deferred revenue		277,280			143,940
Accounts payable		2,910			(62,669	)
Accrued expenses		(171,729	)		47,586
Other liabilities		(5,832	)		—
Net cash provided by operating activities		604,587			380,081
Cash flows from investing activities:
Purchase of property and equipment		(8,256	)		(22,976	)
Net cash used in investing activities		(8,256	)		(22,976	)
Cash flows from financing activities:
Payments on long-term debt		(90,962	)		(82,095	)
Payments on capitalized lease obligations		(18,437	)		(19,580	)
Net cash used in financing activities		(109,399	)		(101,675	)
Net increase in cash and cash equivalents		486,932			255,430
Cash and cash equivalents at beginning of
period		2,467,520			2,034,786
Cash and cash equivalents at end of period	$	2,954,452		$	2,290,216

See accompanying condensed notes to financial statements.

5

CREDITRISKMONITOR.COM, INC.

CONDENSED NOTES TO FINANCIAL STATEMENTS

(Unaudited)

(1) Basis of Presentation

The condensed financial statements included herein have been prepared by CreditRiskMonitor.com, Inc. (the “Company” or “CRM”), without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures herein are adequate to make the information presented not misleading. The December 31, 2006 balance sheet has been derived from the audited financial statements at that date, but does not include all disclosures required by GAAP. These financial statements should be read in conjunction with the audited financial statements and the notes thereto in the Company’s annual report on Form 10-KSB for the year ended December 31, 2006.
 

In the opinion of the Company, the unaudited financial statements reflect all adjustments (consisting of normal recurring adjustments) considered necessary to present fairly the Company’s financial position, results of operations and cash flows for the periods presented. Results of operations for the three and nine months ended September 30, 2007 are not necessarily indicative of the results that may be expected for the full year.

During the first quarter of 2007, the Company filed documents to dissolve Barbito Corp., its inactive wholly-owned subsidiary.
 

(2) Stock-Based Compensation

The Company applies Statement of Financial Accounting Standards (“SFAS”) No. 123 (revised 2004), “Share-Based Payment” (“SFAS 123R”) to account for stock-based compensation.
 

The following table summarizes the stock-based compensation expense for stock options that was recorded in the Company’s results of operations in accordance with SFAS 123R for the three and nine months ended September 30:

	3 Months Ended Sept.  30,				9  Months Ended Sept.  30,
	2007		2006		2007		2006
Data and product costs	$	1,953	$	1,682	$	5,858	$	5,047
Selling, general and administrative
expenses		8,929		5,885		25,158		17,654
	$	10,882	$	7,567	$	31,016	$	22,701

6

The following table summarizes information about stock option activity for the nine  months ended September  30, 2007:

	Shares		Weighted- Average Exercise Price		Weighted Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value
Outstanding at beginning of period		695,500	$	0.8372		6.11	$	1,073,025
Granted		50,000		2.3800		9.95		—
Exercised		—		—
Cancelled		—		—
Outstanding at end of period		745,500	$	0.9407		5.90	$	1,073,025
Exercisable at end of period		155,000	$	0.0324		0.90	$	363,885

As of September  30, 2007, there was $336,389 of total unrecognized compensation cost related to non-vested stock option awards, which is expected to be recognized over a weighted-average period of 4.13 years.

The Company adopted the alternative transition method provided in FASB Staff Position No. FAS 123R-3, “Transition Election Related to Accounting for the Tax Effects of Share-Based Payment Awards”, for calculating the tax effects of stock-based compensation. The alternative transition method includes simplified methods to establish the beginning balance of the additional paid-in capital pool (“APIC pool”) related to the tax effects of employee stock-based compensation, and to determine the subsequent impact on the APIC pool and statements of cash flows of the tax effects of employee stock-based compensation awards that were outstanding upon adoption of SFAS 123R.

(3) Other Recently Issued Accounting Standards

The FASB and the SEC had issued certain accounting pronouncements as of  September 30, 2007 that will become effective in subsequent periods; however, management does not believe that any of those pronouncements would have significantly affected our financial accounting measurements or disclosures had they been in effect during the interim periods for which financial statements are included in this quarterly report. Management also believes those pronouncements will not have a significant effect on our future financial position or results of operations.

(4) Net Income (Loss) Per Share

Basic net income (loss) per share is based on the weighted average number of common shares outstanding. Diluted net income (loss) per share is based on the weighted average number of common shares outstanding and the dilutive effect of outstanding stock options.

For the nine months ended September 30, 2006, the computation of diluted net loss per share excludes the effects of the assumed exercise of 710,500 options since their inclusion would be anti-dilutive as the Company had a loss in this period.

7

(5) Income Taxes

In June 2006, the FASB issued FASB Interpretation 48, “Accounting for Uncertainty in Income Taxes – an interpretation of FASB Statement No. 109” (“FIN 48”). FIN 48 clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements in accordance with SFAS 109, “Accounting for Income Taxes,” and prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. FIN 48 also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. The Company adopted FIN 48 during the first quarter of fiscal 2007 and the impact of adoption was not material to its financial position or results of operations.

8

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

FINANCIAL CONDITION, LIQUIDITY AND CAPITAL RESOURCES

At September 30, 2007, the Company had cash and cash equivalents of $2.95 million compared to $2.47 million at December 31, 2006. The Company’s working capital deficit at September 30, 2007 was approximately $1,000 compared to a working capital deficit of approximately $209,000 at December 31, 2006. The Company’s cash ratio (which measures a company’s ability to pay its current bills and is computed by dividing cash and cash equivalents by total current liabilities) improved from 0.68 at December 31, 2006 to 0.79 at September 30, 2007 and its current ratio (which measures a company’s ability to meet its current obligations and is computed by dividing total current assets by total current liabilities) went from 0.94 at December 31, 2006 to 1.00 at September 30, 2007. Additionally, the working capital deficit at September 30, 2007 is mainly derived from $3.26 million in deferred revenue, which does not require any future cash outlay other than the costs of acquiring the raw data and electronically preparing and delivering the applicable commercial credit reports. The deferred revenue is recognized as income over the subscription term, which approximates twelve months. The Company has no bank lines of credit or other currently available credit sources.

The Company believes that it will have sufficient resources to meet its working capital and capital expenditure needs, including debt service, for the foreseeable future.

OFF-BALANCE SHEET ARRANGEMENTS

The Company is not a party to any off-balance sheet arrangements.

RESULTS OF OPERATIONS

	3 Months Ended September  30,
	2007						2006
	Amount			% of Total Operating Revenues			Amount			% of Total Operating Revenues
Operating revenues	$	1,273,983			100.00	%	$	1,084,838			100.00	%
Operating expenses:
Data and product costs		367,944			28.88	%		316,397			29.16	%
Selling, general and administrative		738,751			57.99	%		678,013			62.50	%
Depreciation and amortization		16,089			1.26	%		16,794			1.55	%
Total operating expenses		1,122,784			88.13	%		1,011,204			93.21	%
Income from operations		151,199			11.87	%		73,634			6.79	%
Other income		25,220			1.98	%		18,349			1.69	%
Interest expense		(8,858	)		-0.70	%		(12,674	)		-1.17	%
Income  before income taxes		167,561			13.15	%		79,309			7.31	%
Provision for income taxes		4,129			0.32	%		517			0.05	%
Net income	$	163,432			12.83	%	$	78,792			7.26	%

Operating revenues increased 17% for the three months ended September 30, 2007. This increase was primarily due to an increase in the number of subscribers to the Company’s Internet subscription service as the market became more aware of the Company’s enhanced service as well as sales from the Company’s new credit limit service introduced during the first quarter.

9

Data and product costs increased 16% for the third quarter of 2007 compared to the same period of fiscal 2006. This increase was primarily due to higher salary and related employee benefits, including the hiring of additional quality control personnel, as well as the cost of new third-party content added to the Company’s website offset in part by lower consulting fees.
 

Selling, general and administrative expenses increased 9% for the third quarter of fiscal 2007 compared to the same period of fiscal 2006. This increase was primarily due to higher salary and related employee benefit costs, resulting from an increase in the Company’s sales force during the past 12 months, and an increase in professional fees, primarily for outside assistance in complying with the requirements of the Sarbanes-Oxley Act of 2002, partially offset by a decrease in marketing expenses.

Depreciation and amortization decreased 4% for the third quarter of fiscal 2007 compared to the same period of fiscal 2006. This decrease was due to a lower depreciable asset base reflecting the continued use of certain items that have been fully depreciated.

Other income increased 37% for third quarter of fiscal 2007 compared to the same period last year. This increase was due to a higher level of funds invested in interest bearing accounts as well as a higher interest rate received on such funds during the current period compared to the same period last year.

Interest expense decreased 30% for the third quarter of fiscal 2007 compared to the same period of fiscal 2006. This decrease was primarily due to a lower outstanding long-term debt balance.
 

The Company reported net income of $163,000 versus net income of $79,000 for the three months ended September 30, 2007 and 2006, respectively.

	Nine Months Ended  September 30,
	2007						2006
	Amount			% of Total Operating Revenues			Amount			% of Total Operating Revenues
Operating revenues	$	3,665,960			100.00	%	$	3,171,089			100.00	%
Operating expenses:
Data and product costs		1,197,246			32.66	%		1,009,400			31.83	%
Selling, general and administrative		2,195,938			59.90	%		2,169,792			68.42	%
Depreciation and amortization		49,416			1.35	%		49,997			1.58	%
Total operating expenses		3,442,600			93.91	%		3,229,189			101.83	%
Income (loss) from operations		223,360			6.09	%		(58,100	)		-1.83	%
Other income		62,000			1.70	%		49,713			1.57	%
Interest expense		(29,584	)		-0.81	%		(40,824	)		-1.29	%
Income (loss) before income taxes		255,776			6.98	%		(49,211	)		-1.55	%
Provision for income taxes		14,311			0.39	%		4,262			0.14	%
Net income (loss)	$	241,465			6.59	%	$	(53,473	)		-1.69	%

Operating revenues increased 16% for the nine months ended September 30, 2007 versus the first nine months of 2006. This increase was primarily due to an increase in the number of subscribers to the Company’s Internet subscription service as well as sales from the Company’s new credit limit service introduced during the first quarter, offset in part by a decrease in the

10

number of subscribers to the Company’s subscription service for third-party international credit reports.

Data and product costs increased 19% for the first nine months of fiscal 2007 compared to the same period of fiscal 2006. This increase was primarily due to higher salary and related employee benefits, including the hiring of additional quality control personnel, as well as the cost of new third-party content added to the Company’s website offset in part by lower consulting fees.
 
Selling, general and administrative expenses increased 1% for the first nine months of fiscal 2007 compared to the same period of fiscal 2006. This increase was primarily due to an increase in professional fees, principally for outside assistance in complying with the requirements of the Sarbanes-Oxley Act of 2002, partially offset by lower salary and related employee benefit costs, as the result of the Company’s change in benefits provider effective January 1, 2007, and a decrease in marketing expenses.
 
Depreciation and amortization decreased by 1% for the first nine months of fiscal 2007 compared to the same period of fiscal 2006. This decrease was due to a lower depreciable asset base reflecting the continued use of certain items that have been fully depreciated.

Other income increased 25% for the first nine months of fiscal 2007 compared to the same period last year. This increase was due to a higher level of funds invested in interest bearing accounts as well as a higher interest rate received on such funds during the current period compared to the same period last year.

Interest expense decreased 28% for the first nine months of fiscal 2007 compared to the same period of fiscal 2006. This decrease was due to a lower outstanding long-term debt balance.
 

The Company reported net income of $241,000 versus a net loss of $53,000 for the nine months ended September 30, 2007 and 2006, respectively.

FUTURE OPERATIONS

The Company over time intends to expand its operations by expanding the breadth and depth of its product and service offerings and introducing new and complementary products. Gross margins attributable to new business areas may be lower than those associated with the Company’s existing business activities.

Due to the evolving nature of the markets in which it competes, the Company’s ability to accurately forecast its revenues, gross profits and operating expenses as a percentage of net sales is limited. The Company’s current and future expense levels are based largely on its investment plans and estimates of future revenues. To a large extent these costs do not vary with revenue. Sales and operating results generally depend on the Company’s ability to attract and retain customers and the volume of and timing of their subscriptions for the Company’s services, which are difficult to forecast. The Company may be unable to adjust spending in a timely manner to compensate for any unexpected revenue shortfall. Accordingly, any significant shortfall in revenues in relation to the Company’s planned expenditures would have an immediate adverse effect on the Company’s business, prospects, financial condition and results of operations. Further, as a strategic response to

11

changes in the competitive environment, the Company may from time to time make certain pricing, service, marketing or acquisition decisions that could have a material adverse effect on its business, prospects, financial condition and results of operations.

Maintaining profitability depends on the Company’s ability to generate and sustain increased revenue levels. The Company believes that its success will depend in large part on its ability to (i) increase its brand awareness, (ii) provide its customers with outstanding value, thus encouraging customer renewals, and (iii) achieve sufficient sales volume to realize economies of scale. Accordingly, the Company intends to continue to invest in marketing and promotion, product development and technology and operating infrastructure development. There can be no assurance that the Company will be able to achieve these objectives within a meaningful time frame.

The Company expects to experience significant fluctuations in its future quarterly operating results due to a variety of factors, some of which are outside the Company’s control. Factors that may adversely affect the Company’s quarterly operating results include, among others, (i) the Company’s ability to retain existing customers, attract new customers at a steady rate and maintain customer satisfaction, (ii) the Company’s ability to maintain gross margins in its existing business and in future product lines and markets, (iii) the development of new services and products by the Company and its competitors, (iv) price competition, (v) the level of use of the Internet and online services and increasing acceptance of the Internet and other online services for the purchase of products such as those offered by the Company, (vi) the Company’s ability to upgrade and develop its systems and infrastructure, (vii) the Company’s ability to attract new personnel in a timely and effective manner, (viii) the level of traffic on the Company’s Web site, (ix) the Company’s ability to manage effectively its development of new business segments and markets, (x) the Company’s ability to successfully manage the integration of operations and technology of acquisitions or other business combinations, (xi) technical difficulties, system downtime or Internet brownouts, (xii) the amount and timing of operating costs and capital expenditures relating to expansion of the Company’s business, operations and infrastructure, (xiii) governmental regulation and taxation policies, (xiv) disruptions in service by common carriers due to strikes or otherwise, (xv) risks of fire or other casualty, (xvi) litigation costs or other unanticipated expenses, (xvii) interest rate risks and inflationary pressures, and (xviii) general economic conditions and economic conditions specific to the Internet and online commerce.

Due to the foregoing factors and the Company’s limited forecasting abilities, the Company believes that period-to-period comparisons of its revenues and operating results are not necessarily meaningful and should not be relied on as an indication of future performance.

FORWARD-LOOKING STATEMENTS

This Quarterly Report on Form 10-QSB may contain forward-looking statements, including statements regarding future prospects, industry trends, competitive conditions and litigation issues. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, the words “believes”, “expects”, “anticipates”, “plans” or words of similar meaning are intended to identify forward-looking

12

statements. This notice is intended to take advantage of the “safe harbor” provided by the Private Securities Litigation Reform Act of 1995 with respect to such forward-looking statements. These forward-looking statements involve a number of risks and uncertainties. Among others, factors that could cause actual results to differ materially from the Company’s beliefs or expectations are those listed under “Results of Operations” and other factors referenced herein or from time to time as “risk factors” or otherwise in the Company’s Registration Statements or Securities and Exchange Commission reports.

Item 3. Controls and Procedures

The Company’s management, with the participation of the Company’s Chief Executive Officer and Chief Financial Officer, has evaluated the effectiveness of the Company’s disclosure controls and procedures (as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended) as of the end of the period covered by this report. Based on that evaluation, the Company’s Chief Executive Officer and Chief Financial Officer have concluded that, as of the end of such period, the Company’s disclosure controls and procedures are effective.
 

There have not been any changes in the Company’s internal control over financial reporting (as such term is defined in Rules 13a-15(f) and 15d-15(f) under the Securities Exchange Act of 1934, as amended) during our most recent fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting. Management is aware that there is a lack of segregation of duties due to the small number of employees dealing with general administrative and financial matters. However, management has decided that considering the employees involved and the control procedures in place, risks associated with such lack of segregation are insignificant and the potential benefit of adding employees to clearly segregate duties do not justify the expenses associated with such increase.

13

PART II. OTHER INFORMATION

Item 6. Exhibits

31.1 Certification of Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

31.2 Certification of Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

32.1 Certification of Chief Executive Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

32.2 Certification of Chief Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

14

SIGNATURES

In accordance with the requirements of the Exchange Act, the Registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

CREDITRISKMONITOR.COM, INC.

(REGISTRANT)

Date: November 12, 2007 By:  /s/ Lawrence Fensterstock

Lawrence Fensterstock

Chief Financial Officer

15

EX-31.1

EXHIBIT 31.1

CERTIFICATION OF CHIEF EXECUTIVE OFFICER PURSUANT

TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Jerome S. Flum, certify that:

1. I have reviewed this quarterly report on Form 10-QSB of CreditRiskMonitor.com, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the small business issuer as of, and for, the periods presented in this report;

4. The small business issuer’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) [***Omitted pursuant to extended compliance period] for the small business issuer and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the small business issuer, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) [***Omitted pursuant to extended compliance period];

c) Evaluated the effectiveness of the small business issuer’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the small business issuer’s internal controls over financial reporting that occurred during the small business issuer’s most recent fiscal quarter (the small business issuer’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the small business issuer’s internal control over financial reporting; and

5. The small business issuer’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the small business issuer’s auditors and the

16

audit committee of the small business issuer’s board of directors (or persons performing the equivalent function):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the small business issuer’s ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the small business issuer’s internal controls over financial reporting.

Date:  November 12, 2007 By:  /s/ Jerome S. Flum

Jerome S. Flum

Chief Executive Officer

17

EX-31.2

EXHIBIT 31.2

CERTIFICATION OF CHIEF FINANCIAL OFFICER PURSUANT

TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Lawrence Fensterstock, certify that:

1. I have reviewed this quarterly report on Form 10-QSB of CreditRiskMonitor.com, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the small business issuer as of, and for, the periods presented in this report;

4. The small business issuer’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) [***Omitted pursuant to extended compliance period] for the small business issuer and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the small business issuer, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) [***Omitted pursuant to extended compliance period];

c) Evaluated the effectiveness of the small business issuer’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the small business issuer’s internal controls over financial reporting that occurred during the small business issuer’s most recent fiscal quarter (the small business issuer’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the small business issuer’s internal control over financial reporting; and

5. The small business issuer’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the small business issuer’s auditors and the

18

audit committee of the small business issuer’s board of directors (or persons performing the equivalent function):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the small business issuer’s ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the small business issuer’s internal controls over financial reporting.

Date: November 12, 2007 By:  /s/ Lawrence Fensterstock

Lawrence Fensterstock

Chief Financial Officer

19

EX-32.1

EXHIBIT 32.1

CERTIFICATION OF CHIEF EXECUTIVE OFFICER PURSUANT TO

18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of CreditRiskMonitor.com, Inc. (“CRM”) on Form 10-QSB for the period ended September 30, 2007, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Jerome S. Flum, Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge:

(1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

By:  /s/ Jerome S. Flum

Jerome S. Flum

Chief Executive Officer

November 12, 2007

20

EX-32.2

EXHIBIT 32.2

CERTIFICATION OF CHIEF FINANCIAL OFFICER PURSUANT TO

18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of CreditRiskMonitor.com, Inc. (“CRM”) on Form 10-QSB for the period ended September 30, 2007, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Lawrence Fensterstock, Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge:

(1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

By:  /s/ Lawrence Fensterstock

Lawrence Fensterstock

Chief Financial Officer

November 12, 2007

21