SEC Info℠ | Home | Search | My Interests | Help | Sign In | Please Sign In | ||||||||||||||||||||
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 8/14/19 Creditriskmonitor Com Inc 10-Q 6/30/19 34:1.6M Broadridge Fin’l So… Inc |
Document/Exhibit Description Pages Size 1: 10-Q Quarterly Report HTML 239K 2: EX-31.1 Certification -- §302 - SOA'02 HTML 19K 3: EX-31.2 Certification -- §302 - SOA'02 HTML 19K 4: EX-32.1 Certification -- §906 - SOA'02 HTML 13K 5: EX-32.2 Certification -- §906 - SOA'02 HTML 13K 12: R1 Document and Entity Information HTML 46K 13: R2 Balance Sheets (Unaudited) HTML 85K 14: R3 Balance Sheets (Unaudited) (Parenthetical) HTML 29K 15: R4 Statements of Operations (Unaudited) HTML 49K 16: R5 Statements of Stockholders' Equity (Unaudited) HTML 37K 17: R6 Statements of Cash Flows (Unaudited) HTML 65K 18: R7 Basis of Presentation HTML 17K 19: R8 Adoption of ASC 842 HTML 38K 20: R9 Recently Issued Accounting Standards HTML 15K 21: R10 Revenue Recognition HTML 15K 22: R11 Stock-Based Compensation HTML 27K 23: R12 Fair Value Measurements HTML 24K 24: R13 Net Loss per Share HTML 15K 25: R14 Related Party Transaction HTML 15K 26: R15 Adoption of ASC 842 (Tables) HTML 37K 27: R16 Stock-Based Compensation (Tables) HTML 28K 28: R17 Fair Value Measurements (Tables) HTML 21K 29: R18 Adoption of ASC 842 (Details) HTML 62K 30: R19 Stock-Based Compensation (Details) HTML 21K 31: R20 Fair Value Measurements (Details) HTML 22K 33: XML IDEA XML File -- Filing Summary XML 49K 32: EXCEL IDEA Workbook of Financial Reports XLSX 25K 6: EX-101.INS XBRL Instance -- crmz-20190630 XML 375K 8: EX-101.CAL XBRL Calculations -- crmz-20190630_cal XML 95K 9: EX-101.DEF XBRL Definitions -- crmz-20190630_def XML 93K 10: EX-101.LAB XBRL Labels -- crmz-20190630_lab XML 460K 11: EX-101.PRE XBRL Presentations -- crmz-20190630_pre XML 293K 7: EX-101.SCH XBRL Schema -- crmz-20190630 XSD 45K 34: ZIP XBRL Zipped Folder -- 0001140361-19-014997-xbrl Zip 51K
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 | ☐ |
Page
|
|||
PART I. FINANCIAL INFORMATION
|
|||
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
|
$
|
8,403,179
|
$
|
8,066,899
|
||||
Accounts receivable, net of allowance
|
1,928,960
|
2,454,585
|
||||||
Other current assets
|
832,965
|
561,861
|
||||||
Total current assets
|
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
|
2019
|
2018
|
|||||||
Operating revenues
|
$
|
3,567,531
|
$
|
3,477,823
|
||||
Operating expenses:
|
||||||||
Data and product costs
|
1,426,497
|
1,413,694
|
||||||
Selling, general and administrative expenses
|
2,147,733
|
2,150,490
|
||||||
Depreciation and amortization
|
50,045
|
42,039
|
||||||
Total operating expenses
|
3,624,275
|
3,606,223
|
||||||
Loss from operations
|
(56,744
|
)
|
(128,400
|
)
|
||||
Other income, net
|
43,209
|
30,602
|
||||||
Loss before income taxes
|
(13,535
|
)
|
(97,798
|
)
|
||||
Benefit from income taxes
|
2,005
|
10,961
|
||||||
Net loss
|
$
|
(11,530
|
)
|
$
|
(86,837
|
)
|
||
Net loss per share – Basic and diluted
|
$
|
(0.00
|
)
|
$
|
(0.01
|
)
|
||
Weighted average number of common shares outstanding –
|
|
|
||||||
Basic and diluted
|
10,722,401
|
10,722,401
|
2019
|
2018
|
|||||||
Operating revenues
|
$
|
7,063,340
|
$
|
6,849,747
|
||||
Operating expenses:
|
||||||||
Data and product costs
|
2,895,490
|
2,897,685
|
||||||
Selling, general and administrative expenses
|
4,315,144
|
4,338,614
|
||||||
Depreciation and amortization
|
101,034
|
89,087
|
||||||
Total operating expenses
|
7,311,668
|
7,325,386
|
||||||
Loss from operations
|
(248,328
|
)
|
(475,639
|
)
|
||||
Other income, net
|
84,099
|
51,644
|
||||||
Loss before income taxes
|
(164,229
|
)
|
(423,995
|
)
|
||||
Benefit from income taxes
|
16,231
|
81,722
|
||||||
Net loss
|
$
|
(147,998
|
)
|
$
|
(342,273
|
)
|
||
Net loss per share – Basic and diluted
|
$
|
(0.01
|
)
|
$
|
(0.03
|
)
|
||
Weighted average number of common shares outstanding –
|
|
|
||||||
Basic and diluted
|
10,722,401
|
10,722,401
|
Common Stock
|
Additional
Paid-in
|
Accumulated
Deficit
|
Total
Stockholders’
Equity
|
|||||||||||||||||
Shares
|
Amount
|
Capital | ||||||||||||||||||
Balance April 1, 2018
|
10,722,401
|
$
|
107,224
|
$
|
29,585,277
|
$
|
(26,340,136
|
)
|
$
|
3,352,365
|
||||||||||
Net loss
|
-
|
-
|
-
|
(86,837
|
)
|
(86,837
|
)
|
|||||||||||||
Stock-based compensation
|
-
|
-
|
25,494
|
-
|
25,494
|
|||||||||||||||
Balance June 30, 2018
|
10,722,401
|
$
|
107,224
|
$
|
29,610,771
|
$
|
(26,426,973
|
)
|
$
|
3,291,022
|
||||||||||
Balance April 1, 2019
|
10,722,401
|
$
|
107,224
|
$
|
29,665,024
|
$
|
(26,936,620
|
)
|
$
|
2,835,628
|
||||||||||
Net loss
|
-
|
-
|
-
|
(11,530
|
)
|
(11,530
|
)
|
|||||||||||||
Stock-based compensation
|
-
|
-
|
13,793
|
-
|
13,793
|
|||||||||||||||
Balance June 30, 2019
|
10,722,401
|
$
|
107,224
|
$
|
29,678,817
|
$
|
(26,948,150
|
)
|
$
|
2,837,891
|
Common Stock
|
Additional
Paid-in
|
Accumulated
Deficit
|
Total
Stockholders’
Equity
|
|||||||||||||||||
Shares
|
Amount
|
Capital | ||||||||||||||||||
Balance January 1, 2018
|
10,722,401
|
$
|
107,224
|
$
|
29,559,784
|
$
|
(26,084,700
|
)
|
$
|
3,582,308
|
||||||||||
Net loss
|
-
|
-
|
- |
(342,273
|
)
|
(342,273
|
)
|
|||||||||||||
Stock-based compensation
|
-
|
-
|
50,987
|
-
|
50,987
|
|||||||||||||||
Balance June 30, 2018
|
10,722,401
|
$
|
107,224
|
$
|
29,610,771
|
$
|
(26,426,973
|
)
|
$
|
3,291,022
|
||||||||||
Balance January 1, 2019
|
10,722,401
|
$
|
107,224
|
$
|
29,650,760
|
$
|
(26,800,152
|
)
|
$
|
2,957,832
|
||||||||||
Net loss
|
-
|
-
|
-
|
(147,998
|
)
|
(147,998
|
)
|
|||||||||||||
Stock-based compensation
|
-
|
-
|
28,057
|
-
|
28,057
|
|||||||||||||||
Balance June 30, 2019
|
10,722,401
|
$
|
107,224
|
$
|
29,678,817
|
$
|
(26,948,150
|
)
|
$
|
2,837,891
|
2019
|
2018
|
|||||||
Cash flows from operating activities:
|
||||||||
Net loss
|
$
|
(147,998
|
)
|
$
|
(342,273
|
)
|
||
Adjustments to reconcile net loss to net cash provided by operating activities:
|
||||||||
Deferred income taxes
|
(17,187
|
)
|
(89,092
|
)
|
||||
Depreciation and amortization
|
101,034
|
89,087
|
||||||
Deferred rent
|
--
|
78
|
||||||
Operating lease right-of-use asset, net
|
22,106
|
--
|
||||||
Stock-based compensation
|
28,057
|
50,987
|
||||||
Changes in operating assets and liabilities:
|
||||||||
Accounts receivable
|
525,625
|
334,443
|
||||||
Other current assets
|
(271,104
|
)
|
(339,433
|
)
|
||||
Other assets
|
4,006
|
(15,855
|
)
|
|||||
Unexpired subscription revenue
|
351,916
|
453,520
|
||||||
Accounts payable
|
31,786
|
38,095
|
||||||
Accrued expenses
|
(179,869
|
)
|
(138,024
|
)
|
||||
Net cash provided by operating activities
|
448,372
|
41,533
|
||||||
Cash flows from investing activities:
|
||||||||
Purchase of property and equipment
|
(112,092
|
)
|
(12,435
|
)
|
||||
Net cash used in investing activities
|
(112,092
|
)
|
(12,435
|
)
|
||||
Net increase in cash and cash equivalents
|
336,280
|
29,098
|
||||||
Cash and cash equivalents at beginning of period
|
8,066,899
|
8,735,148
|
||||||
Cash and cash equivalents at end of period
|
$
|
8,403,179
|
$
|
8,764,246
|
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
|
$
|
125,468
|
||
2020
|
255,311
|
|||
2021
|
262,970
|
|||
2022
|
270,859
|
|||
2023
|
278,985
|
|||
2024
|
287,355
|
|||
Thereafter
|
1,769,054
|
|||
Total undiscounted lease payments
|
3,250,002
|
|||
LESS: Imputed interest at 4.54%
|
(734,334
|
)
|
||
Present value of lease payments
|
$
|
2,515,668
|
||
Current portion of operating lease liability
|
$
|
140,217
|
||
Operating lease liability
|
2,375,451
|
|||
$
|
2,515,668
|
3 Months Ended
June 30,
|
6 Months Ended
|
|||||||||||||||
2019 |
2018
|
|
2019 |
|
2018 | |||||||||||
Data and product costs
|
$
|
5,969
|
$
|
8,914
|
$
|
12,409
|
$
|
17,828
|
||||||||
Selling, general and administrative expenses
|
7,824
|
16,580
|
15,648
|
33,159
|
||||||||||||
$
|
13,793
|
$
|
25,494
|
$
|
28,057
|
$
|
50,987
|
Level 1
|
Level 2
|
Level 3
|
Total
|
Total
|
||||||||||||||||
Cash and cash equivalents
|
$
|
8,403,179
|
$
|
-
|
$
|
-
|
$
|
8,403,179
|
$
|
8,066,899
|
|
||||||||
Cash and cash equivalents
|
$
|
8,403
|
$
|
8,067
|
||||
Accounts receivable, net
|
$
|
1,929
|
$
|
2,455
|
||||
Working capital
|
$
|
906
|
$
|
1,117
|
||||
Cash ratio
|
0.82
|
0.81
|
||||||
Quick ratio
|
1.01
|
1.06
|
||||||
Current ratio
|
1.09
|
1.11
|
3 Months Ended June 30,
|
||||||||||||||||
2018
|
||||||||||||||||
Amount
|
% of Total
Operating
Revenues
|
Amount
|
% of Total
Operating
Revenues
|
|||||||||||||
Operating revenues
|
$
|
3,567,531
|
100.00
|
%
|
$
|
3,477,823
|
100.00
|
%
|
||||||||
Operating expenses:
|
||||||||||||||||
Data and product costs
|
1,426,497
|
39.99
|
%
|
1,413,694
|
40.65
|
%
|
||||||||||
Selling, general and administrative expenses
|
2,147,733
|
60.20
|
%
|
2,150,490
|
61.83
|
%
|
||||||||||
Depreciation and amortization
|
50,045
|
1.40
|
%
|
42,039
|
1.21
|
%
|
||||||||||
Total operating expenses
|
3,624,275
|
101.59
|
%
|
3,606,223
|
103.69
|
%
|
||||||||||
Loss from operations
|
(56,744
|
)
|
(1.59
|
%)
|
(128,400
|
)
|
(3.69
|
%)
|
||||||||
Other income, net
|
43,209
|
1.21
|
%
|
30,602
|
0.88
|
%
|
||||||||||
Loss before income taxes
|
(13,535
|
)
|
(0.38
|
%)
|
(97,798
|
)
|
(2.81
|
%)
|
||||||||
Benefit from income taxes
|
2,005
|
0.06
|
%
|
|
10,961
|
0.31
|
%
|
|||||||||
Net loss
|
$
|
(11,530
|
)
|
(0.32
|
%)
|
$ |
(86,837
|
)
|
(2.50
|
%)
|
6 Months Ended June 30,
|
||||||||||||||||
2018
|
||||||||||||||||
Amount
|
% of Total
Operating
Revenues
|
Amount
|
% of Total
Operating
Revenues
|
|||||||||||||
Operating revenues
|
$
|
7,063,340
|
100.00
|
%
|
$
|
6,849,747
|
100.00
|
%
|
||||||||
Operating expenses:
|
||||||||||||||||
Data and product costs
|
2,895,490
|
41.00
|
%
|
2,897,685
|
42.30
|
%
|
||||||||||
Selling, general and administrative expenses
|
4,315,144
|
61.09
|
%
|
4,338,614
|
63.34
|
%
|
||||||||||
Depreciation and amortization
|
101,034
|
1.43
|
%
|
89,087
|
1.30
|
%
|
||||||||||
Total operating expenses
|
7,311,668
|
103.52
|
%
|
7,325,386
|
106.94
|
%
|
||||||||||
Loss from operations
|
(248,328
|
)
|
(3.52
|
%)
|
(475,639
|
)
|
(6.94
|
%)
|
||||||||
Other income, net
|
84,099
|
1.19
|
%
|
51,644
|
0.75
|
%
|
||||||||||
Loss before income taxes
|
(164,229
|
)
|
(2.33
|
%)
|
(423,995
|
)
|
(6.19
|
%)
|
||||||||
Benefit from income taxes
|
16,231
|
0.23
|
%
|
81,722
|
1.19
|
%
|
||||||||||
Net loss
|
$
|
(147,998
|
)
|
(2.10
|
%)
|
$
|
(342,273
|
)
|
(5.00
|
%)
|
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: August 14, 2019
|
By: /s/
|
Lawrence Fensterstock
|
Lawrence Fensterstock
|
||
Chief Financial Officer &
|
||
Principal Accounting Officer
|
This ‘10-Q’ Filing | Date | Other Filings | ||
---|---|---|---|---|
Filed on: | 8/14/19 | |||
8/6/19 | 8-K | |||
For Period end: | 6/30/19 | |||
6/2/19 | ||||
4/1/19 | ||||
1/1/19 | ||||
12/31/18 | 10-K | |||
6/30/18 | 10-Q | |||
6/4/18 | ||||
4/1/18 | ||||
1/1/18 | ||||
List all Filings |