CreditRiskMonitor Announces 2Q Results

VALLEY COTTAGE, NY -- (Marketwired) -- 08/14/17 -- CreditRiskMonitor (OTCQX: CRMZ) reported that revenues increased 5% for both the 3 and 6 months ended June 30, 2017, to $3.34 million and $6.58 million, respectively. Net loss in the periods was approximately ($83,700) and ($328,000), respectively, compared to net losses of ($20,700) and ($111,000) for the comparable 2016 periods. Cash and cash equivalents at the end of the six-month period decreased approximately $23,800 to $9.20 million from the 2016 year-end balance of $9.22 million.

Jerry Flum, CEO said, "Our operating results reflect the negative impact on earnings of our continuing investment in our marketing infrastructure and programs as this effort was slowed by employee turnover in late 2016 and early 2017. We expect to see traction for these efforts in 2018. We remain debt free and will continue to invest in these marketing programs, as well as enhancements to our product offering."

                        CREDITRISKMONITOR.COM, INC.
                          STATEMENTS OF OPERATIONS
            FOR THE 3 AND 6 MONTHS ENDED JUNE 30, 2017 AND 2016
                                (Unaudited)

                              3 Months Ended            6 Months Ended
                                 June 30,                  June 30,
                         ------------------------  ------------------------
                             2017         2016         2017         2016
                         -----------  -----------  -----------  -----------

Operating revenues       $ 3,341,476  $ 3,175,632  $ 6,577,726  $ 6,292,775
                         -----------  -----------  -----------  -----------

Operating expenses:
 Data and product costs    1,330,021    1,172,669    2,726,181    2,428,461
 Selling, general and
  administrative expenses  2,073,311    2,003,244    4,186,556    3,973,683
 Depreciation and
  amortization                49,716       48,506       99,722       99,132
                         -----------  -----------  -----------  -----------

  Total operating
   expenses                3,453,048    3,224,419    7,012,459    6,501,276
                         -----------  -----------  -----------  -----------

Loss from operations        (111,572)     (48,787)    (434,733)    (208,501)
Other income, net              9,763       16,270       14,570       34,181
                         -----------  -----------  -----------  -----------

Loss before income taxes    (101,809)     (32,517)    (420,163)    (174,320)
Benefit from income taxes     18,122       11,863       92,183       63,340
                         -----------  -----------  -----------  -----------

Net loss                 $   (83,687) $   (20,654) $  (327,980) $  (110,980)
                         -----------  -----------  -----------  -----------

Net loss per share:
 Basic and diluted       $     (0.01) $         -  $     (0.03) $     (0.01)

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


                        CREDITRISKMONITOR.COM, INC.
                               BALANCE SHEETS
                    JUNE 30, 2017 AND DECEMBER 31, 2016

                                                June 30,        Dec. 31,
                                                  2017            2016
                                             --------------  --------------
                                               (Unaudited)

ASSETS
Current assets:
  Cash and cash equivalents                  $    9,198,532  $    9,222,343
  Accounts receivable, net of allowance           1,793,306       2,090,676
  Other current assets                              652,740         487,257
                                             --------------  --------------

    Total current assets                         11,644,578      11,800,276

Property and equipment, net                         399,394         430,324
Goodwill                                          1,954,460       1,954,460
Other assets                                         38,636          23,763
                                             --------------  --------------

    Total assets                             $   14,037,068  $   14,208,823
                                             --------------  --------------


LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
  Deferred revenue                           $    8,315,877  $    8,088,958
  Accounts payable                                   82,661          96,725
  Accrued expenses                                1,253,389       1,282,126
                                             --------------  --------------

    Total current liabilities                     9,651,927       9,467,809

Deferred taxes on income                            661,578         762,403
Other liabilities                                    15,240          12,574
                                             --------------  --------------

    Total liabilities                            10,328,745      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                     29,489,729      29,419,463
  Accumulated deficit                           (25,888,630)    (25,560,650)
                                             --------------  --------------

    Total stockholders' equity                    3,708,323       3,966,037
                                             --------------  --------------

    Total liabilities and stockholders'
     equity                                  $   14,037,068  $   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, 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. We disclaim any intention or obligation to revise any forward-looking statements, whether as a result of new information, a future event, or otherwise.

CREDITRISKMONITOR.COM, INC.

Jerry Flum
845.230.3030
[email protected]

Source: CreditRiskMonitor

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