$CRMZ
CREDITRISKMONITOR COM INC

2019 Q4 Form 10-K Financial Statement

#000114036121009951 Filed on March 25, 2021

View on sec.gov

Income Statement

Concept 2019 Q4 2019 2018 Q4
Revenue $3.765M $14.50M $3.560M
YoY Change 5.75% 4.39% 4.09%
Cost Of Revenue $1.443M $5.760M $1.450M
YoY Change -0.5% -0.08% 5.84%
Gross Profit $2.322M $8.742M $2.110M
YoY Change 10.04% 7.57% 2.92%
Gross Profit Margin 61.67% 60.28% 59.27%
Selling, General & Admin $2.070M $8.347M $1.859M
YoY Change 11.36% 1.08% 1.02%
% of Gross Profit 89.15% 95.49% 88.1%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $53.52K $207.2K $51.49K
YoY Change 3.94% 8.97% 2.98%
% of Gross Profit 2.31% 2.37% 2.44%
Operating Expenses $2.123M $14.31M $1.910M
YoY Change 11.16% 0.72% 1.07%
Operating Profit $198.4K $187.2K $199.7K
YoY Change -0.63% -158.26% 24.79%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $31.53K $155.9K $40.76K
YoY Change -22.64% 20.71% 103.8%
Pretax Income $229.9K $343.1K $240.4K
YoY Change -4.36% -278.49% 33.57%
Income Tax $67.93K $125.5K $66.33K
% Of Pretax Income 29.54% 36.57% 27.59%
Net Earnings $162.0K $217.6K $174.1K
YoY Change -6.94% -221.34% -51.64%
Net Earnings / Revenue 4.3% 1.5% 4.89%
Basic Earnings Per Share $0.02
Diluted Earnings Per Share $15.11K $0.02 $16.24K
COMMON SHARES
Basic Shares Outstanding 10.72M 10.72M
Diluted Shares Outstanding 10.72M

Balance Sheet

Concept 2019 Q4 2019 2018 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.276M $8.276M $8.067M
YoY Change 2.59% 2.59% -7.7%
Cash & Equivalents $8.276M $7.624M $8.067M
Short-Term Investments $0.00
Other Short-Term Assets $549.8K $549.8K $561.9K
YoY Change -2.14% -2.14% 6.01%
Inventory
Prepaid Expenses
Receivables $2.288M $2.288M $2.455M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $11.11M $11.11M $11.08M
YoY Change 0.27% 0.27% -2.86%
LONG-TERM ASSETS
Property, Plant & Equipment $478.0K $2.859M $543.8K
YoY Change -12.1% 425.77% 23.58%
Goodwill $1.954M $1.954M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $35.72K $35.72K $35.61K
YoY Change 0.31% 0.31% 78.07%
Total Long-Term Assets $4.849M $4.849M $2.534M
YoY Change 91.38% 91.38% 5.14%
TOTAL ASSETS
Total Short-Term Assets $11.11M $11.11M $11.08M
Total Long-Term Assets $4.849M $4.849M $2.534M
Total Assets $15.96M $15.96M $13.62M
YoY Change 17.22% 17.22% -1.47%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $137.5K $137.5K $94.77K
YoY Change 45.09% 45.09% 57.95%
Accrued Expenses $1.345M $1.492M $1.311M
YoY Change 2.54% 13.77% -2.15%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $10.28M $10.28M $9.966M
YoY Change 3.16% 3.16% 2.64%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $2.466M $24.54K
YoY Change -100.0% 1116.56% 22.69%
Total Long-Term Liabilities $0.00 $2.466M $24.54K
YoY Change -100.0% 1116.56% 22.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.28M $10.28M $9.966M
Total Long-Term Liabilities $0.00 $2.466M $24.54K
Total Liabilities $13.27M $13.27M $10.66M
YoY Change 24.48% 24.48% 4.1%
SHAREHOLDERS EQUITY
Retained Earnings -$27.12M -$26.80M
YoY Change 1.19%
Common Stock $107.2K $107.2K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.694M $2.694M $2.958M
YoY Change
Total Liabilities & Shareholders Equity $15.96M $15.96M $13.62M
YoY Change 17.22% 17.22% -1.47%

Cashflow Statement

Concept 2019 Q4 2019 2018 Q4
OPERATING ACTIVITIES
Net Income $162.0K $217.6K $174.1K
YoY Change -6.94% -221.34% -51.64%
Depreciation, Depletion And Amortization $53.52K $207.2K $51.49K
YoY Change 3.94% 8.97% 2.98%
Cash From Operating Activities $260.2K $886.5K $39.28K
YoY Change 562.37% 438.66% -56.36%
INVESTING ACTIVITIES
Capital Expenditures -$16.58K $141.4K -$42.71K
YoY Change -61.18% -52.33% -57.29%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$16.58K -$141.4K -$42.71K
YoY Change -61.18% -52.33% -57.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -536.1K -536.1K 0.000
YoY Change 0.0% -100.0%
NET CHANGE
Cash From Operating Activities 260.2K 886.5K 39.28K
Cash From Investing Activities -16.58K -141.4K -42.71K
Cash From Financing Activities -536.1K -536.1K 0.000
Net Change In Cash -292.5K 208.9K -3.430K
YoY Change 8428.28% -131.27% -99.38%
FREE CASH FLOW
Cash From Operating Activities $260.2K $886.5K $39.28K
Capital Expenditures -$16.58K $141.4K -$42.71K
Free Cash Flow $276.8K $745.1K $81.99K
YoY Change 237.55% -663.89% -56.85%

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<div style="font-family: 'Times New Roman'; font-size: 10pt;"><div style="text-align: justify; font-weight: bold;">Concentrations of Credit Risk</div><div><br /></div><div style="text-align: justify;">Financial instruments that potentially subject the Company to concentrations of credit risk principally consist of cash, cash equivalents, available-for-sale securities and accounts receivable. The Company maintains its cash and cash equivalents in bank deposit and other accounts, the balances of which, at times, may exceed federally insured limits. Exposure to credit risk is reduced by placing such deposits in high credit quality financial institutions.</div><div><br /></div><div style="text-align: justify;">The Company closely monitors the extension of credit to its customers. The Company&#8217;s accounts receivable balance is net of an allowance for doubtful accounts. The Company does not require collateral or other security to support credit sales, but provides an allowance for doubtful accounts of $30,000 as of December, 31, 2021 and 2019, based on historical experience and specifically identified risks. Accounts receivable are charged off against the allowance for doubtful accounts when management determines that recovery is unlikely and the Company ceases collection efforts. The Company does not believe that significant credit risk existed at December 31, 2020 nor 2019.</div></div>
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CY2019 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-141435
CY2020 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-746291
CY2019 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-536120
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1561500
CY2020 us-gaap Operating Expenses
OperatingExpenses
15970493
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2200031
CY2019Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2380974
CY2020 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
33715
CY2019 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
41151
CY2019 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
155852
CY2020 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
26774
CY2020 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
2299433
CY2020 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
6026464
CY2019 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
5759660
CY2019 us-gaap Operating Income Loss
OperatingIncomeLoss
187206
CY2020 us-gaap Operating Income Loss
OperatingIncomeLoss
-238127
CY2019Q4 us-gaap Other Assets Current
OtherAssetsCurrent
549821
CY2020Q4 us-gaap Other Assets Current
OtherAssetsCurrent
589072
CY2020Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
84892
CY2019Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
35723
CY2020 us-gaap Payments Of Ordinary Dividends
PaymentsOfOrdinaryDividends
0
CY2019 us-gaap Payments Of Ordinary Dividends
PaymentsOfOrdinaryDividends
536120
CY2019 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
0
CY2020 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
458742
CY2019 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
141435
CY2020 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
287549
CY2019Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2020Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2020Q4 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2019Q4 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2020Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2019Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2019Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2020Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2020 us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
1561500
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2502530
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2233410
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
477973
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
545675
CY2020Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-27166106
CY2019Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-27118678
CY2020 us-gaap Revenues
Revenues
15732366
CY2019 us-gaap Revenues
Revenues
14501173
CY2020Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
3.30
CY2020Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
2.17
CY2020 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P6Y6M11D
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P9Y
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P7Y2M1D
CY2020 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2020 dei Document Type
DocumentType
10-K
CY2020 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2020 dei Entity Registrant Name
EntityRegistrantName
CREDITRISKMONITOR COM INC
CY2020 dei Entity Central Index Key
EntityCentralIndexKey
0000315958
CY2021Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
10722401
CY2020 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2020
CY2019 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
8347083
CY2020 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
9724182
CY2020 us-gaap Share Based Compensation
ShareBasedCompensation
54860
CY2019 us-gaap Share Based Compensation
ShareBasedCompensation
54913
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0005
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0005
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.6400
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.7257
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
575750
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
456870
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0178
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0026
CY2020Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
575750
CY2020Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
89900
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
2701651
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
2694219
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
2957832
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10722401
CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10722401
CY2019 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10724539
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10722401
CY2020 dei Amendment Flag
AmendmentFlag
false
CY2020 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2020 dei Document Period End Date
DocumentPeriodEndDate
2020-12-31
CY2020 dei Entity Address State Or Province
EntityAddressStateOrProvince
NY
CY2020 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2020 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2020 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2020 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2020Q2 dei Entity Public Float
EntityPublicFloat
6327730
CY2020 dei Entity Shell Company
EntityShellCompany
false
CY2020 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2020 dei Entity Small Business
EntitySmallBusiness
true
CY2020 crmz Effective Income Tax Rate Reconciliation True Up Current Taxes
EffectiveIncomeTaxRateReconciliationTrueUpCurrentTaxes
-25916
CY2019 crmz Effective Income Tax Rate Reconciliation True Up Current Taxes
EffectiveIncomeTaxRateReconciliationTrueUpCurrentTaxes
4763
CY2019 crmz Income Tax Reconciliation Permanent Differrences
IncomeTaxReconciliationPermanentDifferrences
25619
CY2020 crmz Income Tax Reconciliation Permanent Differrences
IncomeTaxReconciliationPermanentDifferrences
11516
CY2019 crmz Effective Income Tax Rate Reconciliation True Up Deferred Taxes
EffectiveIncomeTaxRateReconciliationTrueUpDeferredTaxes
11014
CY2020 crmz Effective Income Tax Rate Reconciliation True Up Deferred Taxes
EffectiveIncomeTaxRateReconciliationTrueUpDeferredTaxes
11644
CY2020Q4 crmz Number Of Stock Option Plans
NumberOfStockOptionPlans
2
CY2020 crmz Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGrantDateFairValue
206087
CY2019 crmz Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGrantDateFairValue
125832

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