CreditRiskMonitor Announces 1Q Results

VALLEY COTTAGE, NY -- (Marketwired) -- 05/09/17 -- CreditRiskMonitor (OTCQX: CRMZ) reported that for the 3 months ended March 31, 2017 revenues increased 4% to $3.24 million compared to $3.12 million in last year's first quarter. Net loss for the quarter was approximately $244,300 compared to a net loss of approximately $90,300 in the prior year period. Cash and cash equivalents decreased approximately $378,900 since 2016 year-end, to $8.84 million, and was down $39,000 from the balance at March 31, 2016.

Jerry Flum, CEO, said, "Our quarterly results were negatively impacted primarily by a planned increase in our staff to support new product and marketing efforts. The Company had a change in our marketing leadership in early 2017 resulting in a deferral of planned programs. We have hired a new Chief Marketing Officer who is currently reviewing our 2017 marketing plans. We're still debt free and our strong cash position will allow us to implement these marketing initiatives."

                         CREDITRISKMONITOR.COM, INC.
                          STATEMENTS OF OPERATIONS
               FOR THE 3 MONTHS ENDED MARCH 31, 2017 AND 2016


                                                    2017           2016
                                               -------------  -------------


Operating revenues                             $   3,236,250  $   3,117,143

Operating expenses:
  Data and product costs                           1,396,160      1,255,792
  Selling, general and administrative expenses     2,113,245      1,970,439
  Depreciation and amortization                       50,006         50,626
                                               -------------  -------------

    Total operating expenses                       3,559,411      3,276,857
                                               -------------  -------------

Loss from operations                                (323,161)      (159,714)
Other income, net                                      4,807         17,911
                                               -------------  -------------

Loss before income taxes                            (318,354)      (141,803)
Benefit from income taxes                             74,061         51,477
                                               -------------  -------------

Net loss                                       $    (244,293) $     (90,326)
                                               =============  =============

Net loss per share of common stock:
  Basic and diluted                            $       (0.02) $       (0.01)

Weighted average number of common shares
 outstanding:
  Basic and diluted                               10,722,401     10,722,321


                         CREDITRISKMONITOR.COM, INC.
                               BALANCE SHEETS
                    MARCH 31, 2017 AND DECEMBER 31, 2016


                                                 March 31,       Dec. 31,
                                                    2017           2016
                                               -------------  -------------
                                                (Unaudited)
ASSETS
Current assets:
  Cash and cash equivalents                    $   8,843,482  $   9,222,343
  Accounts receivable, net of allowance of
   $30,000                                         1,921,864      2,090,676
  Other current assets                               359,962        487,257
                                               -------------  -------------

    Total current assets                          11,125,308     11,800,276

Property and equipment, net                          438,493        430,324
Goodwill                                           1,954,460      1,954,460
Other assets                                          48,762         23,763
                                               -------------  -------------

    Total assets                               $  13,567,023  $  14,208,823
                                               =============  =============


LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
  Deferred revenue                             $   8,283,321  $   8,088,958
  Accounts payable                                    66,983         96,725
  Accrued expenses                                   764,869      1,282,126
                                               -------------  -------------

    Total current liabilities                      9,115,173      9,467,809

Deferred taxes on income                             681,198        762,403
Other liabilities                                     13,907         12,574
                                               -------------  -------------

    Total liabilities                              9,810,278     10,242,786
                                               -------------  -------------

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                      29,454,464     29,419,463
  Accumulated deficit                            (25,804,943)   (25,560,650)
                                               -------------  -------------

    Total stockholders' equity                     3,756,745      3,966,037
                                               -------------  -------------

    Total liabilities and stockholders' equity $  13,567,023  $  14,208,823
                                               =============  =============

Overview

CreditRiskMonitor (http://www.crmz.com) is a Web-based publisher of financial information, designed to save time and help busy corporate credit and procurement professionals manage risk. The service offers comprehensive commercial credit reports covering public companies worldwide. Over 35% of the Fortune 1000 already use CreditRiskMonitor's timely news alerts and reports that feature detailed analyses of financial statements, ratio analysis and trend reports, peer analyses, bond agency ratings, as well as the Company's proprietary FRISK® scores, which have been proven predictive in anticipating corporate financial stress, including bankruptcy.

Safe Harbor Statement

Certain statements in this press release may 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. More information about these risks, uncertainties and factors can be found in the "Risk Factors" of the Company's Registration Statements or Securities and Exchange Commission Reports. We disclaim any intention or obligation to update or revise any forward-looking statements.

CreditRiskMonitor

Jerry Flum
845-230-3030
[email protected]

Source: CreditRiskMonitor

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