SEC Info℠ | Home | Search | My Interests | Help | Sign In | Please Sign In | ||||||||||||||||||||
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 5/12/23 Creditriskmonitor Com Inc. 10-Q 3/31/23 41:2.2M Broadridge Fin’l So… Inc |
Document/Exhibit Description Pages Size 1: 10-Q Quarterly Report HTML 507K 2: EX-31.1 Certification -- §302 - SOA'02 HTML 18K 3: EX-31.2 Certification -- §302 - SOA'02 HTML 18K 4: EX-32.1 Certification -- §906 - SOA'02 HTML 14K 5: EX-32.2 Certification -- §906 - SOA'02 HTML 14K 11: R1 Document and Entity Information HTML 62K 12: R2 Condensed Balance Sheets HTML 104K 13: R3 Condensed Balance Sheets (Parenthetical) HTML 32K 14: R4 Condensed Statements of Operations HTML 76K 15: R5 Condensed Statements of Stockholders' Equity HTML 39K 16: R6 Condensed Statements of Cash Flows HTML 74K 17: R7 Basis of Presentation HTML 19K 18: R8 Recently Issued Accounting Standards HTML 27K 19: R9 Revenue Recognition HTML 20K 20: R10 Stock-Based Compensation HTML 31K 21: R11 Fair Value Measurements HTML 50K 22: R12 Marketable Securities HTML 27K 23: R13 Net Income per Share HTML 32K 24: R14 Commitments and Contingencies HTML 16K 25: R15 Related Party Transactions HTML 16K 26: R16 Supplemental Disclosures of Noncash Investing HTML 15K Activities 27: R17 Stock-Based Compensation (Tables) HTML 27K 28: R18 Fair Value Measurements (Tables) HTML 44K 29: R19 Marketable Securities (Tables) HTML 26K 30: R20 Net Income per Share (Tables) HTML 28K 31: R21 Stock-Based Compensation (Details) HTML 19K 32: R22 Fair Value Measurements (Details) HTML 29K 33: R23 Marketable Securities, Cost and Fair Value of HTML 24K Marketable Securities (Details) 34: R24 Marketable Securities, Maturities of Marketable HTML 18K Securities (Details) 35: R25 Net Income per Share (Details) HTML 30K 36: R26 Supplemental Disclosures of Noncash Investing HTML 15K Activities (Details) 39: XML IDEA XML File -- Filing Summary XML 63K 37: XML XBRL Instance -- brhc20052520_10q_htm XML 381K 38: EXCEL IDEA Workbook of Financial Reports XLSX 43K 7: EX-101.CAL XBRL Calculations -- crmz-20230331_cal XML 85K 8: EX-101.DEF XBRL Definitions -- crmz-20230331_def XML 106K 9: EX-101.LAB XBRL Labels -- crmz-20230331_lab XML 478K 10: EX-101.PRE XBRL Presentations -- crmz-20230331_pre XML 306K 6: EX-101.SCH XBRL Schema -- crmz-20230331 XSD 50K 40: JSON XBRL Instance as JSON Data -- MetaLinks 184± 260K 41: ZIP XBRL Zipped Folder -- 0001140361-23-024303-xbrl Zip 109K
i Nevada
|
i 36-2972588
|
|
(State or other jurisdiction of incorporation or organization
|
(I.R.S. Employer Identification No.)
|
i 704 Executive Boulevard, i Suite A
|
i Valley Cottage, i New York i 10989
|
(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
|
☐
|
||
i Non-accelerated filer ☑
|
Smaller reporting company
|
i ☑
|
Emerging growth company i ☐
|
|
Page
|
||
PART I. FINANCIAL INFORMATION
|
|
||
|
|
|
|
|
Item 1.
|
Financial Statements
|
|
|
|
|
|
|
|
2
|
|
|
|
|
|
|
|
3
|
|
|
|
|
|
|
|
4
|
|
|
|
|
|
|
|
5
|
|
|
|
|
|
|
|
6
|
|
|
|
|
|
|
Item 2.
|
10 | |
|
|
|
|
|
Item 4.
|
13 | |
|
|
|
|
PART II. OTHER INFORMATION
|
|
||
|
|
|
|
|
Item 6.
|
14 | |
|
|
|
|
15 |
Item 1.
|
Financial Statements
|
(Unaudited)
|
(Note 1)
|
|||||||
ASSETS
|
||||||||
Current assets:
|
||||||||
Cash and cash equivalents
|
$
|
i 9,643,897
|
$
|
i 9,866,628
|
||||
Held-to-maturity securities – treasury bills
|
i 4,054,252 | i 4,028,565 | ||||||
Accounts receivable, net of allowance of $ i i 30,000 /
|
i 3,412,135
|
i 3,500,259
|
||||||
Other current assets
|
i 656,501
|
i 656,379
|
||||||
Total current assets
|
i 17,766,785
|
i 18,051,831
|
||||||
Property and equipment, net
|
i 593,644
|
i 481,804
|
||||||
Operating lease right-to-use asset
|
i 1,766,319
|
i 1,816,505
|
||||||
Goodwill
|
i 1,954,460
|
i 1,954,460
|
||||||
Other assets
|
i 18,110
|
i 163,470
|
||||||
Total assets
|
$
|
i 22,099,318
|
$
|
i 22,468,070
|
||||
LIABILITIES AND STOCKHOLDERS’ EQUITY
|
||||||||
Current liabilities:
|
||||||||
Unexpired subscription revenue
|
$
|
i 10,496,126
|
$
|
i 9,980,092
|
||||
Accounts payable
|
i 122,095
|
i 245,854
|
||||||
Current portion of operating lease liability
|
i 198,237
|
i 193,953
|
||||||
Accrued expenses
|
i 1,193,657
|
i 2,216,376
|
||||||
Total current liabilities
|
i 12,010,115
|
i 12,636,275
|
||||||
Deferred taxes on income, net
|
i 332,566
|
i 332,566
|
||||||
Unexpired subscription revenue, less current portion
|
i 168,646
|
i 163,320
|
||||||
Operating lease liability, less current portion
|
i 1,715,075
|
i 1,766,174
|
||||||
Total liabilities
|
i 14,226,402
|
i 14,898,335
|
||||||
Stockholders’ equity:
|
||||||||
Preferred stock, $ i i 0.01 /
par value; authorized i i 5,000,000 / shares; i i no / ne
issued
|
i -
|
i -
|
||||||
Common stock, $ i i 0.01 /
par value; authorized i i 32,500,000 / shares; issued and outstanding i i i i 10,722,401 / / /
shares
|
i 107,224
|
i 107,224
|
||||||
Additional paid-in capital
|
i 29,932,576
|
i 29,904,675
|
||||||
Accumulated deficit
|
( i 22,166,884
|
)
|
( i 22,442,164
|
)
|
||||
Total stockholders’ equity
|
i 7,872,916
|
i 7,569,735
|
||||||
Total liabilities and stockholders’ equity
|
$
|
i 22,099,318
|
$
|
i 22,468,070
|
2023
|
2022
|
|||||||
Operating revenues
|
$
|
i 4,590,744
|
$
|
i 4,338,202
|
||||
Operating expenses:
|
||||||||
Data and product costs
|
i 1,920,371
|
i 1,748,164
|
||||||
Selling, general and administrative expenses
|
i 2,359,041
|
i 2,300,849
|
||||||
Depreciation and amortization
|
i 97,521
|
i 94,209
|
||||||
Total operating expenses
|
i 4,376,933
|
i 4,143,222
|
||||||
Income from operations
|
i 213,811
|
i 194,980
|
||||||
Other income
|
i 140,978
|
i 697
|
||||||
Income before income taxes
|
i 354,789
|
i 195,677
|
||||||
Provision for income taxes
|
( i 79,509
|
)
|
( i 44,556
|
)
|
||||
Net income
|
$
|
i 275,280
|
$
|
i 151,121
|
||||
Net income per share – Basic and diluted
|
$
|
i i 0.03 /
|
$
|
i i 0.01 /
|
||||
Weighted average number of common shares outstanding –
|
||||||||
Basic
|
i 10,722,401
|
i 10,722,401
|
||||||
Diluted
|
i 10,797,101
|
i 10,748,568
|
Common Stock
|
Additional
Paid-in
Capital
|
Accumulated
Deficit
|
Total
Stockholders’
Equity |
|||||||||||||||||
Shares | Amount |
|||||||||||||||||||
Balance January 1, 2022
|
i 10,722,401
|
$
|
i 107,224
|
$
|
i 29,824,242
|
$
|
( i 23,802,402
|
)
|
$
|
i 6,129,064
|
||||||||||
Net income
|
-
|
i -
|
i -
|
i 151,121
|
i 151,121
|
|||||||||||||||
Stock-based compensation
|
-
|
i -
|
i 19,332
|
i -
|
i 19,332
|
|||||||||||||||
Balance March 31, 2022
|
i 10,722,401
|
$
|
i 107,224
|
$
|
i 29,843,574
|
$
|
( i 23,651,281
|
)
|
$
|
i 6,299,517
|
||||||||||
Balance January 1, 2023
|
i 10,722,401
|
$
|
i 107,224
|
$
|
i 29,904,675
|
$
|
( i 22,442,164
|
)
|
$
|
i 7,569,735
|
||||||||||
Net income
|
-
|
i -
|
i -
|
i 275,280
|
i 275,280
|
|||||||||||||||
Stock-based compensation
|
-
|
i -
|
i 27,901
|
i -
|
i 27,901
|
|||||||||||||||
Balance March 31, 2023
|
i 10,722,401
|
$
|
i 107,224
|
$
|
i 29,932,576
|
$
|
( i 22,166,884
|
)
|
$
|
i 7,872,916
|
2023
|
2022
|
|||||||
Cash flows from operating activities:
|
||||||||
Net income
|
$
|
i 275,280
|
$
|
i 151,121
|
||||
Adjustments to reconcile net income to net cash used in operating activities:
|
||||||||
Amortization of bond discount
|
( i 36,932 | ) | i - | |||||
Deferred income taxes
|
i -
|
( i 6,675
|
)
|
|||||
Depreciation and amortization
|
i 97,521
|
i 94,209
|
||||||
Operating lease right-to-use asset, net
|
i 3,371
|
i 5,377
|
||||||
Stock-based compensation
|
i 27,901
|
i 19,332
|
||||||
Changes in operating assets and liabilities:
|
||||||||
Accounts receivable
|
i 93,364
|
( i 315,035
|
)
|
|||||
Other current assets
|
( i 10,461
|
)
|
i 58,939
|
|||||
Other assets
|
i -
|
i 9,330
|
||||||
Unexpired subscription revenue
|
i 521,358
|
i 598,907
|
||||||
Accounts payable
|
( i 123,759
|
)
|
( i 187,560
|
)
|
||||
Accrued expenses
|
( i 1,022,718
|
)
|
( i 543,714
|
)
|
||||
Net cash used in operating activities
|
( i 175,075
|
)
|
( i 115,769
|
)
|
||||
Cash flows from investing activities:
|
||||||||
Proceeds from held-to-maturity securities – treasury bills
|
i 1,450,000 | i - | ||||||
Purchase of held-to-maturity securities – treasury bills
|
( i 1,443,995 | ) | i - | |||||
Purchase of property and equipment
|
( i 53,661
|
)
|
( i 70,362
|
)
|
||||
Net cash used in investing activities
|
( i 47,656
|
)
|
( i 70,362
|
)
|
||||
Net decrease in cash and cash equivalents
|
( i 222,731
|
)
|
( i 186,131
|
)
|
||||
Cash and cash equivalents at beginning of period
|
i 9,866,628
|
i 12,381,521
|
||||||
Cash and cash equivalents at end of period
|
$
|
i 9,643,897
|
$
|
i 12,195,390
|
3 Months Ended
|
||||||||
2022
|
||||||||
Data and product
costs
|
$
|
i 10,272
|
$
|
i 7,288
|
||||
Selling, general
and administrative expenses
|
i 17,629
|
i 12,044
|
||||||
$
|
i 27,901
|
$
|
i 19,332
|
March 31, 2023
|
||||||||||||||||
Level 1
|
Level 2
|
Level 3
|
Total
|
|||||||||||||
Cash and cash equivalents
|
$
|
i 9,643,897
|
$
|
i -
|
$
|
i -
|
$
|
i 9,643,897
|
||||||||
Held-to-maturity securities |
i 4,054,252 | i - | i - | i 4,054,252 | ||||||||||||
$ |
i 13,698,149 | $ |
i - | $ |
i - | $ |
i 13,698,149 |
Level 1
|
Level 2
|
Level 3
|
Total
|
|||||||||||||
Cash and cash equivalents
|
$
|
i 9,866,628
|
$
|
i -
|
$
|
i -
|
$
|
i 9,866,628
|
||||||||
Held-to-maturity securities | i 4,028,565 | i - | i - | i 4,028,565 | ||||||||||||
$ |
i 13,895,193 | $ |
i - | $ |
i - | $ |
i 13,895,193 |
Amortized Cost
|
Gross Unrealized Gain (Loss)
|
Fair Value
|
||||||||||
Held-to-maturity securities
|
||||||||||||
US Treasuries
|
$ |
i 4,054,252
|
$ |
i 75,748
|
$ |
i 4,130,000
|
Held-to-maturity securities
|
||||
Due in one year or less
|
$
|
i 4,054,252
|
3 Months Ended
|
||||||||
2022
|
||||||||
Weighted average
number of common shares outstanding – basic
|
i 10,722,401
|
i 10,722,401
|
||||||
Potential shares
exercisable under stock option plans
|
i 306,650
|
i 239,100
|
||||||
LESS: Shares which
could be repurchased under treasury stock method
|
( i 231,950
|
)
|
( i 212,933
|
)
|
||||
Weighted average
number of common shares outstanding – diluted
|
i 10,797,101
|
i 10,748,568
|
Item 2. |
Management’s Discussion and Analysis of Financial Condition and Results of Operations
|
Cash and cash equivalents
|
$
|
9,644
|
$
|
9,867
|
||||
Held-to-maturity securities
|
$
|
4,054
|
$
|
4,028
|
||||
Accounts receivable, net
|
$
|
3,412
|
$
|
3,500
|
||||
Working capital
|
$
|
5,757
|
$
|
5,416
|
||||
Cash ratio
|
0.80
|
0.78
|
||||||
Quick ratio
|
1.42
|
1.38
|
||||||
Current ratio
|
1.48
|
1.43
|
3 Months Ended March 31,
|
||||||||||||||||
2022
|
||||||||||||||||
Amount
|
% of Total
Operating
Revenues
|
Amount
|
% of Total
Operating
Revenues
|
|||||||||||||
Operating revenues
|
$
|
4,590,744
|
100
|
%
|
$
|
4,338,202
|
100
|
%
|
||||||||
Operating expenses:
|
||||||||||||||||
Data and product costs
|
1,920,371
|
42
|
%
|
1,748,164
|
40
|
%
|
||||||||||
Selling, general and administrative expenses
|
2,359,041
|
51
|
%
|
2,300,849
|
53
|
%
|
||||||||||
Depreciation and amortization
|
97,521
|
2
|
%
|
94,209
|
2
|
%
|
||||||||||
Total operating expenses
|
4,376,933
|
95
|
%
|
4,143,222
|
95
|
%
|
||||||||||
Income from operations
|
213,811
|
5
|
%
|
194,980
|
5
|
%
|
||||||||||
Other income, net
|
140,978
|
3
|
%
|
697
|
0
|
%
|
||||||||||
Income before income taxes
|
354,789
|
8
|
%
|
195,677
|
5
|
%
|
||||||||||
Provision for income taxes
|
(79,509
|
)
|
(2
|
%)
|
(44,556
|
)
|
(1
|
%)
|
||||||||
Net income
|
$
|
275,280
|
6
|
%
|
$
|
151,121
|
4
|
%
|
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: May 12, 2023
|
By:
|
/s/ Steven Gargano
|
Senior Vice President & Chief Financial Officer
|
||
(Principal Accounting Officer)
|
This ‘10-Q’ Filing | Date | Other Filings | ||
---|---|---|---|---|
Filed on: | 5/12/23 | |||
5/1/23 | 8-K | |||
For Period end: | 3/31/23 | |||
1/1/23 | ||||
12/31/22 | 10-K | |||
6/30/22 | 10-Q | |||
3/31/22 | 10-Q | |||
1/1/22 | ||||
List all Filings |