-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, VLXyHiCFg/lontXR0JzDbr/Wpfnml5QUofzCVVQ8o7QRoIYZnu+wSm9oCO2NQ6pn DhVWGIJl9dloj8LkDEbWjg== 0001169232-09-001595.txt : 20090317 0001169232-09-001595.hdr.sgml : 20090317 20090317172940 ACCESSION NUMBER: 0001169232-09-001595 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20090317 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20090317 DATE AS OF CHANGE: 20090317 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CREDITRISKMONITOR COM INC CENTRAL INDEX KEY: 0000315958 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-CONSUMER CREDIT REPORTING, COLLECTION AGENCIES [7320] IRS NUMBER: 362972588 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-08601 FILM NUMBER: 09689045 BUSINESS ADDRESS: STREET 1: 704 EXECUTIVE BOULEVARD STREET 2: SUITE A CITY: VALLEY COTTAGE STATE: NY ZIP: 10989 BUSINESS PHONE: 845-230-3000 MAIL ADDRESS: STREET 1: 704 EXECUTIVE BOULEVARD STREET 2: SUITE A CITY: VALLEY COTTAGE STATE: NY ZIP: 10989 FORMER COMPANY: FORMER CONFORMED NAME: NEW GENERATION FOODS INC DATE OF NAME CHANGE: 19920703 8-K 1 d76485_8-k.htm CURRENT REPORT

 

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 17, 2009

 

____________

 

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 (see General Instruction A.2. below):

 

o

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o

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 17, 2009, CreditRiskMonitor.com, Inc. issued a press release relating to, among other things, its financial results for the year ended December 31, 2008. 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

 

 

 

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 17, 2009

By: /s/ Lawrence Fensterstock   

 

Lawrence Fensterstock

 

Chief Financial Officer

 

 

 EX-99.1 2 d76485_ex99-1.htm PRESS RELEASE

Exhibit 99.1

 

NEWS RELEASE

 

CONTACT:

CreditRiskMonitor.com, Inc.

Jerry Flum, CEO

(845) 230-3030

info@creditriskmonitor.com

 

FOR IMMEDIATE RELEASE

 

CreditRiskMonitor Reports Record Sales for 2008

 

VALLEY COTTAGE, NY—March 17, 2009—CreditRiskMonitor (Symbol: CRMZ) announced that for the year ended December 31, 2008 revenues increased 18% to $5.87 million and net income was $372,000 versus $370,000 last year.

 

Jerry Flum, CEO, said, “2008 was another record sales year for our company in spite of the powerful economic contraction being experienced globally. Our belief that corporate credit analysis and monitoring has a counter-cyclical component has been borne out in our monthly sales results since September of 2008. Awareness of the need for these services grows during economic turbulence. Monthly bookings of new business subscriptions for the six months ended February 2009 were the highest for any comparable period in our history. We intend to continue to improve our service over the coming year, while keeping our prices low. Our cash and marketable securities of nearly $4 million, or approximately 50¢ per share, supports a debt free balance sheet and gives our Company stability in these turbulent times.”

 

CREDITRISKMONITOR.COM, INC.

STATEMENTS OF INCOME

FOR THE YEARS ENDED DECEMBER 31, 2008 AND 2007

 

 

 

2008

 

2007

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating revenues

 

$

5,872,996

 

$

4,989,177

 

 

 

 

 

 

 

 

 

Operating expenses:

 

 

 

 

 

 

 

Data and product costs

 

 

1,753,338

 

 

1,651,606

 

Selling, general and administrative expenses

 

 

3,795,232

 

 

2,953,648

 

Depreciation and amortization

 

 

81,531

 

 

65,895

 

 

 

 

 

 

 

 

 

Total operating expenses

 

 

5,630,101

 

 

4,671,149

 

 

 

 

 

 

 

 

 

Income from operations

 

 

242,895

 

 

318,028

 

Other income

 

 

142,923

 

 

93,344

 

Interest expense

 

 

(9,875

)

 

(37,535

)

 

 

 

 

 

 

 

 

Income before income taxes

 

 

375,943

 

 

373,837

 

Provision for state and local income taxes

 

 

4,117

 

 

3,606

 

 

 

 

 

 

 

 

 

Net income

 

$

371,826

 

$

370,231

 

 

 

 

 

 

 

 

 

Net income per share of common stock:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted

 

$

0.05

 

$

0.05

 

 

 

 

CREDITRISKMONITOR.COM, INC.

BALANCE SHEETS

DECEMBER 31, 2008 AND 2007

 

 

 

 

2008

 

2007

 

ASSETS

 

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

912,591

 

$

2,973,263

 

Marketable securities

 

 

2,958,996

 

 

—

 

Accounts receivable, net of allowance of $30,000

 

 

1,146,066

 

 

737,436

 

Other current assets

 

 

237,883

 

 

260,657

 

 

 

 

 

 

 

 

 

Total current assets

 

 

5,255,536

 

 

3,971,356

 

 

 

 

 

 

 

 

 

Property and equipment, net

 

 

213,142

 

 

149,773

 

Goodwill

 

 

1,954,460

 

 

1,954,460

 

Other assets

 

 

28,109

 

 

27,753

 

 

 

 

 

 

 

 

 

Total assets

 

$

7,451,247

 

$

6,103,342

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

LIABILITIES AND STOCKHOLDERS' EQUITY

 

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

 

Deferred revenue

 

$

4,394,803

 

$

3,391,339

 

Accounts payable

 

 

52,758

 

 

51,119

 

Accrued expenses

 

 

610,748

 

 

348,745

 

Current portion of long-term debt

 

 

—

 

 

136,141

 

 

 

 

 

 

 

 

 

Total current liabilities

 

 

5,058,309

 

 

3,927,344

 

 

 

 

 

 

 

 

 

Long-term debt, net of current portion

 

 

—

 

 

150,799

 

Other liabilities

 

 

3,424

 

 

66,422

 

 

 

 

 

 

 

 

 

Total liabilities

 

 

5,061,733

 

 

4,144,565

 

 

 

 

 

 

 

 

 

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 7,849,462 and

 

 

 

 

 

 

 

7,694,462 shares, respectively

 

 

78,494

 

 

76,944

 

Additional paid-in capital

 

 

28,279,268

 

 

28,221,907

 

Accumulated deficit

 

 

(25,968,248

)

 

(26,340,074

)

 

 

 

 

 

 

 

 

Total stockholders’ equity

 

 

2,389,514

 

 

1,958,777

 

 

 

 

 

 

 

 

 

Total liabilities and stockholders’ equity

 

$

7,451,247

 

$

6,103,342

 

 

CreditRiskMonitor (http://www.crmz.com) is an Internet-based publisher of financial information, designed to save time for busy corporate credit professionals that competes with Dun & Bradstreet, Equifax and Experian.

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.

 

 

 

 

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