CreditRiskMonitor Announces Q2 Results

CreditRiskMonitor (OTCQX:CRMZ) has announced an increase in revenue of 5 percent for the 3 and 6 months ended June 30, 2017 to $3.34 million and $6.58 million.
As quoted in the press release:

Net loss in the periods was approximately ($83,700) and ($328,000), respectively, compared to net losses of ($20,700) and ($111,000) for the comparable 2016 periods. Cash and cash equivalents at the end of the six-month period decreased approximately $23,800 to $9.20 million from the 2016 year-end balance of $9.22 million.
Jerry Flum, CEO said, “Our operating results reflect the negative impact on earnings of our continuing investment in our marketing infrastructure and programs as this effort was slowed by employee turnover in late 2016 and early 2017. We expect to see traction for these efforts in 2018. We remain debt free and will continue to invest in these marketing programs, as well as enhancements to our product offering.”

CREDITRISKMONITOR.COM, INC.
STATEMENTS OF OPERATIONS
FOR THE 3 AND 6 MONTHS ENDED JUNE 30, 2017 AND 2016
(Unaudited)
3 Months Ended						6 Months Ended
June 30,						June 30,
2017		2016		2017		2016
Operating revenues			$	3,341,476	$	3,175,632	$	6,577,726	$	6,292,775
Operating expenses:
Data and product costs		1,330,021	1,172,669	2,726,181	2,428,461
Selling, general and administrative expenses		2,073,311	2,003,244	4,186,556	3,973,683
Depreciation and amortization		49,716	48,506	99,722	99,132
Total operating expenses	3,453,048	3,224,419	7,012,459	6,501,276
Loss from operations			(111,572	)	(48,787	)	(434,733	)	(208,501	)
Other income, net			9,763	16,270	14,570	34,181
Loss before income taxes			(101,809	)	(32,517	)	(420,163	)	(174,320	)
Benefit from income taxes			18,122	11,863	92,183	63,340
Net loss			$	(83,687	)	$	(20,654	)	$	(327,980	)	$	(110,980	)
Net loss per share:
Basic and diluted		$	(0.01	)	$	–	$	(0.03	)	$	(0.01	)
Weighted average number of shares outstanding:
Basic and diluted		10,722,401	10,722,321	10,722,401	10,722,321

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