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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 11/14/19 Creditriskmonitor Com Inc 10-Q 9/30/19 38:1.8M Broadridge Fin’l So… Inc |
Document/Exhibit Description Pages Size 1: 10-Q Quarterly Report HTML 250K 2: EX-31.1 Certification -- §302 - SOA'02 HTML 20K 3: EX-31.2 Certification -- §302 - SOA'02 HTML 20K 4: EX-32.1 Certification -- §906 - SOA'02 HTML 14K 5: EX-32.2 Certification -- §906 - SOA'02 HTML 14K 13: R1 Document and Entity Information HTML 43K 30: R2 Balance Sheets (Unaudited) HTML 85K 37: R3 Balance Sheets (Unaudited) (Parenthetical) HTML 30K 21: R4 Statements of Operations (Unaudited) HTML 54K 14: R5 Statements of Stockholders' Equity (Unaudited) HTML 38K 31: R6 Statements of Cash Flows (Unaudited) HTML 69K 38: R7 Basis of Presentation HTML 18K 20: R8 Adoption of ASC 842 HTML 37K 15: R9 Recently Issued Accounting Standards HTML 16K 16: R10 Revenue Recognition HTML 16K 23: R11 Stock-Based Compensation HTML 26K 35: R12 Fair Value Measurements HTML 25K 27: R13 Net Income (Loss) per Share HTML 29K 17: R14 Related Party Transaction HTML 16K 24: R15 Subsequent Event HTML 16K 36: R16 Adoption of ASC 842 (Tables) HTML 36K 28: R17 Stock-Based Compensation (Tables) HTML 28K 18: R18 Fair Value Measurements (Tables) HTML 22K 22: R19 Net Income (Loss) per Share (Tables) HTML 28K 33: R20 Adoption of ASC 842 (Details) HTML 67K 32: R21 Stock-Based Compensation (Details) HTML 21K 12: R22 Fair Value Measurements (Details) HTML 22K 25: R23 Net Income (Loss) per Share (Details) HTML 31K 34: R24 Subsequent Event (Details) HTML 23K 19: XML IDEA XML File -- Filing Summary XML 57K 26: EXCEL IDEA Workbook of Financial Reports XLSX 28K 6: EX-101.INS XBRL Instance -- crmz-20190930 XML 434K 8: EX-101.CAL XBRL Calculations -- crmz-20190930_cal XML 101K 9: EX-101.DEF XBRL Definitions -- crmz-20190930_def XML 127K 10: EX-101.LAB XBRL Labels -- crmz-20190930_lab XML 503K 11: EX-101.PRE XBRL Presentations -- crmz-20190930_pre XML 320K 7: EX-101.SCH XBRL Schema -- crmz-20190930 XSD 52K 29: ZIP XBRL Zipped Folder -- 0001140361-19-020509-xbrl Zip 57K
Nevada
|
36-2972588 | |
(State or other jurisdiction of incorporation or organization)
|
(I.R.S. Employer Identification No.) |
704 Executive Boulevard, Suite A
|
||
(Address of principal executive offices, including zip code)
|
Title of each class
|
Trading Symbol(s)
|
Name of each exchange on which registered
|
None
|
N/A
|
N/A
|
Large accelerated filer
|
☐ | Accelerated filer |
☐ | ||
Non-accelerated filer
|
☑ | Smaller reporting company |
☑ | Emerging growth company |
☐ |
PART I. FINANCIAL INFORMATION
|
Page
|
Item 1. Financial Statements
|
||
2
|
|||
3
|
|||
4
|
|||
5
|
|||
6
|
|||
7
|
|||
8
|
|||
12
|
||
Item 4. Controls and Procedures
|
16
|
|
PART II. OTHER INFORMATION
|
|
Item 6. Exhibits
|
16
|
|
17
|
(Unaudited)
|
(Note 1)
|
|||||||
ASSETS
|
||||||||
Current assets:
|
||||||||
Cash and cash equivalents
|
$
|
8,568,350
|
$
|
8,066,899
|
||||
Accounts receivable, net of allowance
|
1,845,325
|
2,454,585
|
||||||
Other current assets
|
522,645
|
561,861
|
||||||
Total current assets
|
10,936,320
|
11,083,345
|
||||||
Property and equipment, net
|
514,917
|
543,762
|
||||||
Operating lease right-of-use asset
|
2,425,195
|
--
|
||||||
Goodwill
|
1,954,460
|
1,954,460
|
||||||
Other assets
|
48,654
|
35,613
|
||||||
Total assets
|
$
|
15,879,546
|
$
|
13,617,180
|
||||
LIABILITIES AND STOCKHOLDERS’ EQUITY
|
||||||||
Current liabilities:
|
||||||||
Unexpired subscription revenue
|
$
|
8,358,081
|
$
|
8,560,316
|
||||
Accounts payable
|
25,970
|
94,767
|
||||||
Current portion of operating lease liability
|
143,694
|
--
|
||||||
Accrued expenses
|
1,234,271
|
1,311,218
|
||||||
Total current liabilities
|
9,762,016
|
9,966,301
|
||||||
Deferred taxes on income, net
|
511,656
|
490,381
|
||||||
Unexpired subscription revenue, less current portion
|
213,955
|
178,129
|
||||||
Operating lease liability, less current portion
|
2,337,973
|
--
|
||||||
Other liabilities
|
--
|
24,537
|
||||||
Total liabilities
|
12,825,600
|
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
|
29,691,282
|
29,650,760
|
||||||
Accumulated deficit
|
(26,744,560
|
)
|
(26,800,152
|
)
|
||||
Total stockholders’ equity
|
3,053,946
|
2,957,832
|
||||||
Total liabilities and stockholders’ equity
|
$
|
15,879,546
|
$
|
13,617,180
|
2019
|
2018
|
|||||||
Operating revenues
|
$
|
3,673,241
|
$
|
3,481,359
|
||||
Operating expenses:
|
||||||||
Data and product costs
|
1,421,290
|
1,416,783
|
||||||
Selling, general and administrative expenses
|
1,962,150
|
2,060,322
|
||||||
Depreciation and amortization
|
52,667
|
49,583
|
||||||
Total operating expenses
|
3,436,107
|
3,526,688
|
||||||
Income (loss) from operations
|
237,134
|
(45,329
|
)
|
|||||
Other income, net
|
40,223
|
36,710
|
||||||
Income (loss) before income taxes
|
277,357
|
(8,619
|
)
|
|||||
Provision for income taxes
|
(73,767
|
)
|
(2,527
|
)
|
||||
Net income (loss)
|
$
|
203,590
|
$
|
(11,146
|
)
|
|||
Net income (loss) per share – Basic and diluted
|
$
|
0.02
|
$
|
(0.00
|
)
|
|||
Weighted average number of common shares outstanding –
|
||||||||
Basic and diluted
|
10,722,401
|
10,722,401
|
2019
|
2018
|
|||||||
Operating revenues
|
$
|
10,736,581
|
$
|
10,331,106
|
||||
Operating expenses:
|
||||||||
Data and product costs
|
4,316,780
|
4,314,468
|
||||||
Selling, general and administrative expenses
|
6,277,294
|
6,398,936
|
||||||
Depreciation and amortization
|
153,701
|
138,670
|
||||||
Total operating expenses
|
10,747,775
|
10,852,074
|
||||||
Loss from operations
|
(11,194
|
)
|
(520,968
|
)
|
||||
Other income, net
|
124,322
|
88,354
|
||||||
Income (loss) before income taxes
|
113,128
|
(432,614
|
)
|
|||||
Benefit (provision) for income taxes
|
(57,536
|
)
|
79,195
|
|||||
Net income (loss)
|
$
|
55,592
|
$
|
(353,419
|
)
|
|||
Net income (loss) per share – Basic and diluted
|
$
|
0.01
|
$
|
(0.03
|
)
|
|||
Weighted average number of common shares outstanding –
|
||||||||
Basic
|
10,722,401
|
10,722,401
|
||||||
Diluted
|
10,725,252
|
10,722,401
|
Additional
Paid-in
|
Accumulated
|
Total
Stockholders’
|
||||||||||||||||||
Common Stock
|
||||||||||||||||||||
Shares
|
Amount
|
Capital
|
Deficit
|
Equity
|
||||||||||||||||
Balance July 1, 2018
|
10,722,401
|
$
|
107,224
|
$
|
29,610,771
|
$
|
(26,426,973
|
)
|
$
|
3,291,022
|
||||||||||
Net loss
|
--
|
--
|
--
|
(11,146
|
)
|
(11,146
|
)
|
|||||||||||||
Stock-based compensation
|
--
|
--
|
21,200
|
--
|
21,200
|
|||||||||||||||
Balance September 30, 2018
|
10,722,401
|
$
|
107,224
|
$
|
29,631,971
|
$
|
(26,438,119
|
)
|
$
|
3,301,076
|
||||||||||
Balance July 1, 2019
|
10,722,401
|
$
|
107,224
|
$
|
29,678,817
|
$
|
(26,948,150
|
)
|
$
|
2,837,891
|
||||||||||
Net income
|
--
|
--
|
--
|
203,590
|
203,590
|
|||||||||||||||
Stock-based compensation
|
--
|
--
|
12,465
|
--
|
12,465
|
|||||||||||||||
Balance September 30, 2019
|
10,722,401
|
$
|
107,224
|
$
|
29,691,282
|
$
|
(26,744,560
|
)
|
$
|
3,053,946
|
Common Stock
|
Additional
Paid-in
|
Accumulated
|
Total
Stockholders’
|
|||||||||||||||||
Shares
|
Amount
|
Capital
|
Deficit
|
Equity
|
||||||||||||||||
Balance January 1, 2018
|
10,722,401
|
$
|
107,224
|
$
|
29,559,784
|
$
|
(26,084,700
|
)
|
$
|
3,582,308
|
||||||||||
Net loss
|
-
|
-
|
-
|
(353,419
|
)
|
(353,419
|
)
|
|||||||||||||
Stock-based compensation
|
-
|
-
|
72,187
|
-
|
72,187
|
|||||||||||||||
Balance September 30, 2018
|
10,722,401
|
$
|
107,224
|
$
|
29,631,971
|
$
|
(26,438,119
|
)
|
$
|
3,301,076
|
||||||||||
Balance January 1, 2019
|
10,722,401
|
$
|
107,224
|
$
|
29,650,760
|
$
|
(26,800,152
|
)
|
$
|
2,957,832
|
||||||||||
Net income
|
-
|
-
|
-
|
55,592
|
55,592
|
|||||||||||||||
Stock-based compensation
|
-
|
-
|
40,522
|
-
|
40,522
|
|||||||||||||||
Balance September 30, 2019
|
10,722,401
|
$
|
107,224
|
$
|
29,691,282
|
$
|
(26,744,560
|
)
|
$
|
3,053,946
|
2019
|
2018
|
|||||||
Cash flows from operating activities:
|
||||||||
Net income (loss)
|
$
|
55,592
|
$
|
(353,419
|
)
|
|||
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
|
||||||||
Deferred income taxes
|
74,099
|
(88,457
|
)
|
|||||
Depreciation and amortization
|
153,701
|
138,670
|
||||||
Deferred rent
|
--
|
3,562
|
||||||
Operating lease right-of-use asset, net
|
31,935
|
--
|
||||||
Stock-based compensation
|
40,522
|
72,187
|
||||||
Changes in operating assets and liabilities:
|
||||||||
Accounts receivable
|
609,260
|
569,471
|
||||||
Other current assets
|
39,216
|
136
|
||||||
Other assets
|
(13,041
|
)
|
(24,819
|
)
|
||||
Unexpired subscription revenue
|
(166,409
|
)
|
(94,385
|
)
|
||||
Accounts payable
|
(68,797
|
)
|
86,561
|
|||||
Accrued expenses
|
(129,771
|
)
|
(184,213
|
)
|
||||
Net cash provided by operating activities
|
626,307
|
125,294
|
||||||
Cash flows from investing activities:
|
||||||||
Purchase of property and equipment
|
(124,856
|
)
|
(253,992
|
)
|
||||
Net cash used in investing activities
|
(124,856
|
)
|
(253,992
|
)
|
||||
Net increase (decrease) in cash and cash equivalents
|
501,451
|
(128,698
|
)
|
|||||
Cash and cash equivalents at beginning of period
|
8,066,899
|
8,735,148
|
||||||
Cash and cash equivalents at end of period
|
$
|
8,568,350
|
$
|
8,606,450
|
||||
Supplemental disclosure of cash flow information:
|
||||||||
Cash paid (refunded), net for:
|
||||||||
Income taxes
|
$
|
5,956
|
$
|
(103,812
|
)
|
As reported
|
Adoption of
ASC 842
Increase
|
Balance
|
||||||||||
Operating lease right-to-use asset
|
$
|
-
|
$
|
2,589,875
|
$
|
2,589,875
|
||||||
Total assets
|
13,617,180
|
2,589,875
|
16,207,055
|
|||||||||
Current portion of operating lease liability
|
-
|
143,213
|
143,213
|
|||||||||
Operating lease liability
|
-
|
2,446,662
|
2,446,662
|
|||||||||
Total liabilities and stockholders’ equity
|
13,617,180
|
2,589,875
|
16,207,055
|
2019 Remainder
|
$
|
63,040
|
||
2020
|
255,311
|
|||
2021
|
262,970
|
|||
2022
|
270,859
|
|||
2023
|
278,985
|
|||
2024
|
287,355
|
|||
Thereafter
|
1,769,054
|
|||
Total undiscounted lease payments
|
3,187,574
|
|||
LESS: Imputed interest at 4.54%
|
(705,907
|
)
|
||
Present value of lease payments
|
$
|
2,481,667
|
||
Current portion of operating lease liability
|
$
|
143,694
|
||
Operating lease liability
|
2,337,973
|
|||
$
|
2,481,667
|
3 Months Ended
September 30,
|
9 Months Ended
|
|||||||||||||||
2018
|
2019
|
2018
|
||||||||||||||
Data and product costs
|
$
|
4,789
|
$
|
8,914
|
$
|
17,198
|
$
|
26,742
|
||||||||
Selling, general and administrative expenses
|
7,676
|
12,286
|
23,324
|
45,445
|
||||||||||||
$
|
12,465
|
$
|
21,200
|
$
|
40,522
|
$
|
72,187
|
Level 1
|
Level 2
|
Level 3
|
Total
|
Total
|
||||||||||||||||
Cash and cash equivalents
|
$
|
8,568,350
|
$
|
-
|
$
|
-
|
$
|
8,568,350
|
$
|
8,066,899
|
3 Months Ended
September 30,
|
9 Months Ended
|
|||||||||||||||
2018
|
2019
|
2018
|
||||||||||||||
Weighted average number of common shares outstanding – basic
|
10,722,401
|
10,722,401
|
10,722,401
|
10,722,401
|
||||||||||||
Potential shares exercisable under stock option plans
|
--
|
--
|
36,533
|
--
|
||||||||||||
LESS: Shares which could be repurchased under treasury stock method
|
--
|
--
|
(33,682
|
)
|
--
|
|||||||||||
Weighted average number of common shares outstanding – diluted
|
10,722,401
|
10,722,401
|
10,725,252
|
10,722,401
|
Cash and cash equivalents
|
$
|
8,568
|
$
|
8,067
|
||||
Accounts receivable, net
|
$
|
1,845
|
$
|
2,455
|
||||
Working capital
|
$
|
1,174
|
$
|
1,117
|
||||
Cash ratio
|
0.88
|
0.81
|
||||||
Quick ratio
|
1.07
|
1.06
|
||||||
Current ratio
|
1.12
|
1.11
|
3 Months Ended September 30,
|
||||||||||||||||
2018
|
||||||||||||||||
Amount
|
% of Total
Operating
Revenues
|
Amount
|
% of Total
Operating
Revenues
|
|||||||||||||
Operating revenues
|
$
|
3,673,241
|
100.00
|
%
|
$
|
3,481,359
|
100.00
|
%
|
||||||||
Operating expenses:
|
||||||||||||||||
Data and product costs
|
1,421,290
|
38.69
|
%
|
1,416,783
|
40.70
|
%
|
||||||||||
Selling, general and administrative expenses
|
1,962,150
|
53.42
|
%
|
2,060,322
|
59.18
|
%
|
||||||||||
Depreciation and amortization
|
52,667
|
1.43
|
%
|
49,583
|
1.42
|
%
|
||||||||||
Total operating expenses
|
3,436,107
|
93.54
|
%
|
3,526,688
|
101.30
|
%
|
||||||||||
Income (loss) from operations
|
237,134
|
6.46
|
%
|
(45,329
|
)
|
(1.30
|
%)
|
|||||||||
Other income, net
|
40,223
|
1.09
|
%
|
36,710
|
1.05
|
%
|
||||||||||
Income (loss) before income taxes
|
277,357
|
7.55
|
%
|
(8,619
|
)
|
(0.25
|
%)
|
|||||||||
Provision for income taxes
|
(73,767
|
)
|
(2.01
|
%)
|
(2,527
|
)
|
(0.07
|
%)
|
||||||||
Net income (loss)
|
$
|
203,590
|
5.54
|
%
|
$
|
(11,146
|
)
|
(0.32
|
%)
|
9 Months Ended September 30,
|
||||||||||||||||
2018
|
||||||||||||||||
Amount
|
% of Total
Operating
Revenues
|
Amount
|
% of Total
Operating
Revenues
|
|||||||||||||
Operating revenues
|
$
|
10,736,581
|
100.00
|
%
|
$
|
10,331,106
|
100.00
|
%
|
||||||||
Operating expenses:
|
||||||||||||||||
Data and product costs
|
4,316,780
|
40.20
|
%
|
4,314,468
|
41.76
|
%
|
||||||||||
Selling, general and administrative expenses
|
6,277,294
|
58.47
|
%
|
6,398,936
|
61.94
|
%
|
||||||||||
Depreciation and amortization
|
153,701
|
1.43
|
%
|
138,670
|
1.34
|
%
|
||||||||||
Total operating expenses
|
10,747,775
|
100.10
|
%
|
10,852,074
|
105.04
|
%
|
||||||||||
Loss from operations
|
(11,194
|
)
|
(0.10
|
%)
|
(520,968
|
)
|
(5.04
|
%)
|
||||||||
Other income, net
|
124,322
|
1.15
|
%
|
88,354
|
0.85
|
%
|
||||||||||
Income (loss) before income taxes
|
113,128
|
1.05
|
%
|
(432,614
|
)
|
(4.19
|
%)
|
|||||||||
Benefit (provision) for income taxes
|
(57,536
|
)
|
(0.53
|
%)
|
79,195
|
0.77
|
%
|
|||||||||
Net income (loss)
|
$
|
55,592
|
(0.52
|
%)
|
$
|
(353,419
|
)
|
(3.42
|
%)
|
Certification of Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
|
||
Certification of Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
|
||
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
|
||
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
|
||
101.INS
|
XBRL Instance Document
|
|
101.SCH
|
XBRL Taxonomy Extension Schema Document
|
|
101.CAL
|
XBRL Taxonomy Extension Calculation Linkbase Document
|
|
101.DEF
|
XBRL Taxonomy Extension Definition Linkbase Document
|
|
101.LAB
|
XBRL Taxonomy Extension Label Linkbase Document
|
|
101.PRE
|
XBRL Taxonomy Extension Presentation Linkbase Document
|
CREDITRISKMONITOR.COM, INC.
|
||
(REGISTRANT)
|
||
Date: November 14, 2019
|
By: /s/ |
Lawrence Fensterstock
|
Lawrence Fensterstock
|
||
Chief Financial Officer &
|
||
Principal Accounting Officer
|
This ‘10-Q’ Filing | Date | Other Filings | ||
---|---|---|---|---|
12/2/19 | ||||
Filed on: | 11/14/19 | 3 | ||
11/4/19 | ||||
10/24/19 | 3, 8-K | |||
For Period end: | 9/30/19 | |||
7/1/19 | ||||
6/2/19 | ||||
1/1/19 | ||||
12/31/18 | 10-K | |||
9/30/18 | 10-Q | |||
8/3/18 | ||||
7/1/18 | ||||
6/4/18 | ||||
1/1/18 | ||||
List all Filings |