/EINPresswire.com/ -- VALLEY COTTAGE, NY -- (Marketwired) -- 05/11/16 -- CreditRiskMonitor (OTCQX: CRMZ) reported that for the 3 months ended March 31, 2016, revenues increased 2% to $3.12 million compared to $3.07 million in last year's first quarter. Net loss for the quarter was approximately $90,300 compared to net income of approximately $36,500 in the prior year period. Cash, cash equivalents and marketable securities decreased approximately $81,200 since 2015 year-end, to $8.88 million.

Jerry Flum, CEO, said, "The quarter was impacted by a planned increase in our marketing expenses as part of our 2016 plan to drive increased traffic to the Company's website, and improve customers' experience using the website. This is the Company's first significant marketing campaign and it includes investment in a substantial redesign of our website, which was launched early in the second quarter. The Company remains debt free and our strong cash position allows us to undertake these initiatives."

                        CREDITRISKMONITOR.COM, INC.
                          STATEMENTS OF OPERATIONS
               FOR THE 3 MONTHS ENDED MARCH 31, 2016 AND 2015
                                (Unaudited)

                                                 2016             2015

Operating revenues                         $     3,117,143  $     3,070,206
                                           ---------------  ---------------

Operating expenses:
  Data and product costs                         1,255,792        1,229,736
  Selling, general and administrative
   expenses                                      1,970,439        1,730,813
  Depreciation and amortization                     50,626           52,747
                                           ---------------  ---------------

   Total operating expenses                      3,276,857        3,013,296
                                           ---------------  ---------------

Income (loss) from operations                     (159,714)          56,910
Other income, net                                   17,911            4,956
                                           ---------------  ---------------

Income (loss) before income taxes                 (141,803)          61,866
Benefit from (provision for) income taxes           51,477          (25,345)
                                           ---------------  ---------------

Net income (loss)                          $       (90,326) $        36,521
                                           ===============  ===============

Net income (loss) per common share of
 stock:
  Basic                                    $         (0.01) $          0.00
                                           ===============  ===============
  Diluted                                  $         (0.01) $          0.00
                                           ===============  ===============

Weighted average number of common shares
 outstanding:
  Basic                                         10,722,321       10,481,065
  Diluted                                       10,722,321       10,702,721


                        CREDITRISKMONITOR.COM, INC.
                               BALANCE SHEETS
                    MARCH 31, 2016 AND DECEMBER 31, 2015

                                              March 31,         Dec. 31,
                                                 2016             2015
                                             (Unaudited)

ASSETS
Current assets:
  Cash and cash equivalents                $     8,620,077  $     8,717,899
  Marketable securities                            262,135          245,474
  Accounts receivable, net of allowance          2,032,343        1,927,428
  Other current assets                           1,089,352          749,925
                                           ---------------  ---------------

   Total current assets                         12,003,907       11,640,726

Property and equipment, net                        469,881          395,026
Goodwill                                         1,954,460        1,954,460
Other assets                                        62,460           33,999
                                           ---------------  ---------------

   Total assets                            $    14,490,708  $    14,024,211
                                           ===============  ===============


LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
  Deferred revenue                         $     8,026,551  $     7,436,764
  Accounts payable                                  60,786           78,267
  Accrued expenses                               1,185,154        1,241,317
                                           ---------------  ---------------

   Total current liabilities                     9,272,491        8,756,348

Deferred taxes on income                           806,161          806,161
Other liabilities                                    6,902            4,314
                                           ---------------  ---------------

   Total liabilities                            10,085,554        9,566,823
                                           ---------------  ---------------

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 10,722,321 shares                   107,223          107,223
  Additional paid-in capital                    29,511,937       29,473,845
  Accumulated deficit                          (25,214,006)     (25,123,680)
                                           ---------------  ---------------

   Total stockholders' equity                    4,405,154        4,457,388
                                           ---------------  ---------------

   Total liabilities and stockholders'
    equity                                 $    14,490,708  $    14,024,211
                                           ===============  ===============

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 1,000 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, whether as a result of new information, a future event, or otherwise.

CreditRiskMonitor
Jerry Flum
845.230.3030
ir@creditriskmonitor.com

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