VALLEY COTTAGE, N.Y., May 09, 2018 (GLOBE NEWSWIRE) -- CreditRiskMonitor (OTCQX:CRMZ) reported that for the 3 months ended March 31, 2018 revenues increased 4% to $3.37 million compared to $3.24 million in last year’s first quarter. Net loss for the quarter was approximately $255,400 compared to a net loss of approximately $244,300 in the prior year period. Cash and cash equivalents decreased approximately $15,300 since 2017 year-end, to $8.72 million, and was down $123,700 from the balance at March 31, 2017.

 Jerry Flum, CEO, said, “The Company is committed to its philosophy of investing in new products, such as private company Financial Statement Sourcing (launched 4Q 2017) and the PAYCE™ private company neural network score (launched 1Q 2018), as well as our other marketing efforts. We’re still debt free and our strong cash position will allow us to implement these marketing initiatives.”

CREDITRISKMONITOR.COM, INC.
STATEMENTS OF INCOME
FOR THE 3 MONTHS ENDED MARCH 31, 2018 AND 2017
				2018				2017
Operating revenues			$	3,371,924			$	3,236,250
Operating expenses:
	Data and product costs			1,483,991				1,396,160
	Selling, general and administrative expenses			2,188,124				2,113,245
	Depreciation and amortization			47,048				50,006
		Total operating expenses		3,719,163				3,559,411
Loss from operations				(347,239	)			(323,161	)
Other income, net				21,042				4,807
Loss before income taxes				(326,197	)			(318,354	)
Benefit from income taxes				70,761				74,061
Net loss			$	(255,436	)		$	(244,293	)
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,				December 31,
				2017				2017
			(Unaudited)
ASSETS
Current assets:
	Cash and cash equivalents		$	8,719,826			$	8,735,148
	Accounts receivable, net of allowance of $30,000			1,974,655				2,139,707
	Other current assets			504,928				530,699
		Total current assets		11,199,409				11,405,554
			.				.
Property and equipment, net				399,426				437,216
Goodwill				1,954,460				1,954,460
Other assets				49,768				23,463
		Total assets	$	13,603,063			$	13,820,693
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
	Deferred revenue		$	8,893,546			$	8,304,877
	Accounts payable			145,578				58,901
	Accrued expenses			756,506				1,344,526
		Total current liabilities		9,795,630				9,708,304
Deferred taxes on income, net				439,281				514,333
Other liabilities				15,787				15,748
		Total liabilities		10,250,698				10,238,385
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			29,585,277				29,559,784
	Accumulated deficit			(26,340,136	)			(26,084,700	)
		Total stockholders’ equity		3,352,365				3,582,308
		Total liabilities and stockholders’ equity	$	13,603,063			$	13,820,693

Overview

CreditRiskMonitor (http://www.crmz.com) is a web-based publisher of financial information that helps corporate credit and procurement professionals stay ahead of business financial risk quickly, accurately and cost effectively. The service offers comprehensive commercial credit reports and financial risk analysis covering public companies worldwide. Unlike other commercial credit bureaus like Dun & Bradstreet, CreditRiskMonitor’s primary expertise and focus is on financial analysis of public debt and equity companies.

The Company also collects more than $130 billion of trade receivable data on both public and a select group of private companies every month, to help subscribers determine payment performance. 

Over 35% of the Fortune 1000 depend on CreditRiskMonitor's timely news alerts and reports featuring detailed analyses of financial statements, ratio analysis and trend reports, peer analyses, bond agency ratings, as well as the company's proprietary FRISK® and PAYCE™ scores.

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.

Jerry Flum
845.230.3030
ir@creditriskmonitor.com

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