10-Q Filing

CREDITRISKMONITOR COM INC CIK: 315958 Q3 2023

Filing Information

Form Type	10-Q
Accession Number	`0001140361-23-053144`
Period End Date	20230930
Filing Date	20231114
Fiscal Year	2023
Fiscal Period	Q3
XBRL Instance	ef20012336_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 56 Cash Flow Statement 48 Stockholders Equity 24

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$30.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.87M	USD	Point-in-time
Accounts receivable, allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$30.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.09M	USD	Point-in-time
Held-to-maturity securities - treasury bills	`HeldToMaturitySecuritiesCurrent`	$4.14M	USD	Point-in-time
Held-to-maturity securities - treasury bills	`HeldToMaturitySecuritiesCurrent`	$4.03M	USD	Point-in-time
Accounts receivable, net of allowance of $30,000	`AccountsReceivableNetCurrent`	$3.50M	USD	Point-in-time
Accounts receivable, net of allowance of $30,000	`AccountsReceivableNetCurrent`	$2.87M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$1.08M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$656.38K	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Total current assets	`AssetsCurrent`	$19.19M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$18.05M	USD	Point-in-time
Preferred stock, authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$481.80K	USD	Point-in-time
Preferred stock, issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$497.46K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Operating lease right-to-use asset	`OperatingLeaseRightOfUseAsset`	$1.66M	USD	Point-in-time
Operating lease right-to-use asset	`OperatingLeaseRightOfUseAsset`	$1.82M	USD	Point-in-time
Goodwill	`Goodwill`	$1.95M	USD	Point-in-time
Goodwill	`Goodwill`	$1.95M	USD	Point-in-time
Common stock, authorized (in shares)	`CommonStockSharesAuthorized`	32.50M	shares	Point-in-time
Common stock, authorized (in shares)	`CommonStockSharesAuthorized`	32.50M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$163.47K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$18.11K	USD	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	10.72M	shares	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	10.72M	shares	Point-in-time
Total assets	`Assets`	$22.47M	USD	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	10.72M	shares	Point-in-time
Total assets	`Assets`	$23.32M	USD	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	10.72M	shares	Point-in-time
Unexpired subscription revenue	`DeferredRevenueCurrent`	$9.98M	USD	Point-in-time
Unexpired subscription revenue	`DeferredRevenueCurrent`	$9.87M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$245.85K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$96.14K	USD	Point-in-time
Current portion of operating lease liability	`OperatingLeaseLiabilityCurrent`	$206.99K	USD	Point-in-time
Current portion of operating lease liability	`OperatingLeaseLiabilityCurrent`	$193.95K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.22M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.38M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$12.55M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$12.64M	USD	Point-in-time
Deferred taxes on income, net	`DeferredIncomeTaxLiabilitiesNet`	$332.57K	USD	Point-in-time
Deferred taxes on income, net	`DeferredIncomeTaxLiabilitiesNet`	$332.57K	USD	Point-in-time
Unexpired subscription revenue, less current portion	`DeferredRevenueNoncurrent`	$74.07K	USD	Point-in-time
Unexpired subscription revenue, less current portion	`DeferredRevenueNoncurrent`	$163.32K	USD	Point-in-time
Operating lease liability, less current portion	`OperatingLeaseLiabilityNoncurrent`	$1.61M	USD	Point-in-time
Operating lease liability, less current portion	`OperatingLeaseLiabilityNoncurrent`	$1.77M	USD	Point-in-time
Total liabilities	`Liabilities`	$14.57M	USD	Point-in-time
Total liabilities	`Liabilities`	$14.90M	USD	Point-in-time
Preferred stock, $.01 par value; authorized 5,000,000 shares; none issued	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $.01 par value; authorized 5,000,000 shares; none issued	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $.01 par value; authorized 32,500,000 shares; issued and outstanding 10,722,401 shares	`CommonStockValue`	$107.22K	USD	Point-in-time
Common stock, $.01 par value; authorized 32,500,000 shares; issued and outstanding 10,722,401 shares	`CommonStockValue`	$107.22K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$29.98M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$29.90M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-21.34M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-22.44M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$6.13M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$7.57M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$8.75M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$7.03M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$6.53M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$8.35M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$22.47M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$23.32M	USD	Point-in-time

Income Statement 56 line items

Line Item	Tag	Value	Unit	Period
Operating revenues	`Revenues`	$13.34M	USD	3 Qtrs
Operating revenues	`Revenues`	$4.79M	USD	1 Quarter
Operating revenues	`Revenues`	$4.55M	USD	1 Quarter
Operating revenues	`Revenues`	$14.07M	USD	3 Qtrs
Data and product costs	`OperatingCostsAndExpenses`	$1.95M	USD	1 Quarter
Data and product costs	`OperatingCostsAndExpenses`	$5.12M	USD	3 Qtrs
Data and product costs	`OperatingCostsAndExpenses`	$1.64M	USD	1 Quarter
Data and product costs	`OperatingCostsAndExpenses`	$5.81M	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$7.05M	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.44M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.23M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$6.86M	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$100.45K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$301.66K	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$288.30K	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$96.22K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$13.15M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$12.28M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$3.98M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$4.49M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$920.95K	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$1.05M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$572.22K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$306.15K	USD	1 Quarter
Other income	`NonoperatingIncomeExpense`	$188.08K	USD	1 Quarter
Other income	`NonoperatingIncomeExpense`	$54.58K	USD	1 Quarter
Other income	`NonoperatingIncomeExpense`	$66.37K	USD	3 Qtrs
Other income	`NonoperatingIncomeExpense`	$521.63K	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$626.80K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.12M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.44M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$494.23K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$140.82K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$337.27K	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$115.55K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$268.54K	USD	3 Qtrs
Net income	`NetIncomeLoss`	$485.98K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.11M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$378.68K	USD	1 Quarter
Net income	`NetIncomeLoss`	$849.77K	USD	3 Qtrs
Net income per share - Basic (in dollars per share)	`EarningsPerShareBasic`	$0.04	USD	1 Quarter
Net income per share - Basic (in dollars per share)	`EarningsPerShareBasic`	$0.05	USD	1 Quarter
Net income per share - Basic (in dollars per share)	`EarningsPerShareBasic`	$0.08	USD	3 Qtrs
Net income per share - Basic (in dollars per share)	`EarningsPerShareBasic`	$0.10	USD	3 Qtrs
Net income per share - Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.04	USD	1 Quarter
Net income per share - Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.10	USD	3 Qtrs
Net income per share - Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.05	USD	1 Quarter
Net income per share - Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.08	USD	3 Qtrs
Weighted average number of common shares outstanding - Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	10.72M	shares	3 Qtrs
Weighted average number of common shares outstanding - Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	10.72M	shares	3 Qtrs
Weighted average number of common shares outstanding - Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	10.72M	shares	1 Quarter
Weighted average number of common shares outstanding - Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	10.72M	shares	1 Quarter
Weighted average number of common shares outstanding - Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	10.80M	shares	3 Qtrs
Weighted average number of common shares outstanding - Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	10.76M	shares	3 Qtrs
Weighted average number of common shares outstanding - Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	10.80M	shares	1 Quarter
Weighted average number of common shares outstanding - Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	10.76M	shares	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$485.98K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.11M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$378.68K	USD	1 Quarter
Net income	`NetIncomeLoss`	$849.77K	USD	3 Qtrs
Amortization of bond discount	`AmortizationOfDebtDiscountPremium`	-	USD	3 Qtrs
Amortization of bond discount	`AmortizationOfDebtDiscountPremium`	$-121.80K	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$217.31K	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$100.45K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$301.66K	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$288.30K	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$96.22K	USD	1 Quarter
Operating lease right-to-use asset, net	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$14.79K	USD	3 Qtrs
Operating lease right-to-use asset, net	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$8.73K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$75.85K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$53.67K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$147.63K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-630.73K	USD	3 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$157.11K	USD	3 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$434.90K	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-5.53K	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	-	USD	3 Qtrs
Unexpired subscription revenue	`IncreaseDecreaseInDeferredRevenue`	$457.97K	USD	3 Qtrs
Unexpired subscription revenue	`IncreaseDecreaseInDeferredRevenue`	$-202.19K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-149.72K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-172.12K	USD	3 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-2.49K	USD	3 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$168.07K	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.42M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.37M	USD	3 Qtrs
Proceeds from held-to-maturity securities - treasury bills	`ProceedsFromSaleOfHeldToMaturitySecurities`	-	USD	3 Qtrs
Proceeds from held-to-maturity securities - treasury bills	`ProceedsFromSaleOfHeldToMaturitySecurities`	$3.63M	USD	3 Qtrs
Purchase of held-to-maturity securities - treasury bills	`PaymentsToAcquireHeldToMaturitySecurities`	$3.63M	USD	3 Qtrs
Purchase of held-to-maturity securities - treasury bills	`PaymentsToAcquireHeldToMaturitySecurities`	-	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$196.91K	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$148.26K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-196.91K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-147.00K	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.22M	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.22M	USD	3 Qtrs
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$13.61M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$9.87M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$11.09M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$12.38M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$13.61M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$9.87M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$11.09M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$12.38M	USD	Point-in-time

Stockholders Equity 24 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$6.13M	USD	Point-in-time
Balance	`StockholdersEquity`	$7.57M	USD	Point-in-time
Balance	`StockholdersEquity`	$8.75M	USD	Point-in-time
Balance	`StockholdersEquity`	$7.03M	USD	Point-in-time
Balance	`StockholdersEquity`	$6.53M	USD	Point-in-time
Balance	`StockholdersEquity`	$8.35M	USD	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	10.72M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	10.72M	shares	Point-in-time
Net income	`NetIncomeLoss`	$485.98K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.11M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$378.68K	USD	1 Quarter
Net income	`NetIncomeLoss`	$849.77K	USD	3 Qtrs
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$22.33K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$53.67K	USD	3 Qtrs
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$75.85K	USD	3 Qtrs
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$18.68K	USD	1 Quarter
Balance	`StockholdersEquity`	$6.13M	USD	Point-in-time
Balance	`StockholdersEquity`	$7.57M	USD	Point-in-time
Balance	`StockholdersEquity`	$8.75M	USD	Point-in-time
Balance	`StockholdersEquity`	$7.03M	USD	Point-in-time
Balance	`StockholdersEquity`	$6.53M	USD	Point-in-time
Balance	`StockholdersEquity`	$8.35M	USD	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	10.72M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	10.72M	shares	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.