VALLEY COTTAGE, N.Y., Nov. 12, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- CreditRiskMonitor (OTCQX: CRMZ) reported that revenues were $3.67 million and $10.74 million for the 3 and 9 months ended September 30, 2019, respectively, an increase of 5.5% and 3.9% over the comparable periods last year. For the same periods, the Company reported net income of approximately $203,600 and $55,600, respectively, versus a net loss of approximately ($11,100) and ($353,400) for the comparable 2018 periods. Cash and cash equivalents at the end of the nine-month period increased $501,500 to $8.57 million versus the 2018 year-end balance of $8.07 million.

Jerry Flum, CEO, said, “While our operating profitability improved we will continue to invest in our service and people to build a dynamic company even though the market for our services is impacted by a difficult environment for the sale of credit/debt/loan risk analysis. Our development plan is made possible in these difficult circumstances because we are debt-free and generate free cash flow. Assuming that business cycles have not been permanently banished from the earth, a simple return towards historical norms and the associated credit concerns should reward our investments. I believe that we are in those rarest of times where being a company with contra-cyclical products is viewed as a negative by some within the investment community.

“There is no line item on our balance sheet to reflect the value of our collecting and processing approximately $2 TRILLION of trade receivable data on an annualized basis on both public and private companies which allows us to extend our company coverage and maintain our commitment of having the most accurate risk scores available. Over 35% of the Fortune 1000 and over 1,000 other large companies worldwide depend on CreditRiskMonitor’s timely news alerts and reports featuring detailed analyses of financial statements, ratio analysis and trend reports, bond rating agencies, crowd sourcing in real-time of thousands of risk professionals as well as our proprietary FRISK® and PAYCE® scores.”

CREDITRISKMONITOR.COM, INC.
STATEMENTS OF OPERATIONS
FOR THE 3 AND 9 MONTHS ENDED SEPTEMBER 30, 2019 AND 2018
(Unaudited)
				3 Months Ended								9 Months Ended
				September 30,								September 30,
					2019				2018				2019				2018
Operating revenues				$	3,673,241			$	3,481,359			$	10,736,581			$	10,331,106
Operating expenses:
	Data and product costs				1,421,290				1,416,783				4,316,780				4,314,468
	Selling, general and administrative expenses				1,962,150				2,060,322				6,277,294				6,398,936
	Depreciation and amortization				52,667				49,583				153,701				138,670
		Total operating expenses			3,436,107				3,526,688				10,747,775				10,852,074
Income (loss) from operations					237,134				(45,329	)			(11,194	)			(520,968	)
Other income, net					40,223				36,710				124,322				88,354
Income (loss) before income taxes					277,357				(8,619	)			113,128				(432,614	)
Benefit from (provision for) income taxes					(73,767	)			(2,527	)			(57,536	)			79,195
Net income (loss)				$	203,590			$	(11,146	)		$	55,592			$	(353,419	)
Net income (loss) per share:
	Basic and diluted			$	0.02			$	-			$	0.01			$	(0.03	)

CREDITRISKMONITOR.COM, INC.
BALANCE SHEETS
SEPTEMBER 30, 2019 AND DECEMBER 31, 2018
			September 30,				December 31,
			2019				2018
			(Unaudited)
ASSETS
Current assets:
	Cash and cash equivalents		$	8,568,350			$	8,066,899
	Accounts receivable, net of allowance			1,845,325				2,454,585
	Other current assets			522,645				561,861
		Total current assets		10,936,320				11,083,345
Property and equipment, net				514,917				543,762
Operating lease right-of-use asset				2,425,195				--
Goodwill				1,954,460				1,954,460
Other assets				48,654				35,613
		Total assets	$	15,879,546			$	13,617,180
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
	Unexpired subscription revenue		$	8,358,081			$	8,560,316
	Accounts payable			25,970				94,767
	Current portion of operating lease liability			143,694				--
	Accrued expenses			1,234,271				1,311,218
		Total current liabilities		9,762,016				9,966,301
Deferred taxes on income, net				511,656				490,381
Unexpired subscription revenue, less current portion				213,955				178,129
Operating lease liability, less current portion				2,337,973				--
Other liabilities				--				24,537
		Total liabilities		12,825,600				10,659,348
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			29,691,282				29,650,760
	Accumulated deficit			(26,744,560	)			(26,800,152	)
		Total stockholders’ equity		3,053,946				2,957,832
		Total liabilities and stockholders’ equity	$	15,879,546			$	13,617,180

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, such as Dun & Bradstreet, CreditRiskMonitor’s primary expertise and focus is on financial analysis of public debt and equity companies.

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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