Nevada | 36-2972588 | |
(State or other jurisdiction of incorporation or organization | (I.R.S. Employer Identification No.) |
704 Executive Boulevard, Suite A |
Valley Cottage, New York 10989 |
(Address of principal executive offices, including zip code) |
Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
None | N/A | N/A |
Large accelerated filer ☐ | Accelerated filer | ☐ | ||
Non-accelerated filer ☑ | Smaller reporting company | ☑ | Emerging growth company ☐ |
Page | |||||
PART I. FINANCIAL INFORMATION | |||||
Item 1. | Financial Statements | ||||
2 | |||||
3 | |||||
Condensed Statements of Operations for the Six Months Ended June 30, | 4 | ||||
5 | |||||
Condensed Statements of Stockholders’ Equity for the Six Months Ended June 30, | 6 | ||||
7 | |||||
8 | |||||
Item 2. | |||||
Item 4. | |||||
PART II. OTHER INFORMATION | |||||
Item 6. | |||||
Item 1. | Financial Statements |
June 30, 2021 | December 31, 2020 | June 30, 2022 | December 31, 2021 | |||||||||||||
(Unaudited) | (Note 1) | (Unaudited) | (Note 1) | |||||||||||||
ASSETS | ||||||||||||||||
Current assets: | ||||||||||||||||
Cash and cash equivalents | $ | 10,903,794 | $ | 10,302,732 | $ | 12,627,763 | $ | 12,381,521 | ||||||||
Available-for-sale securities – municipal bonds | 0 | 458,237 | ||||||||||||||
Accounts receivable, net of allowance of $30,000 | 2,945,382 | 2,557,443 | 3,447,149 | 2,803,236 | ||||||||||||
Other current assets | 804,329 | 589,072 | 810,289 | 581,149 | ||||||||||||
Total current assets | 14,653,505 | 13,907,484 | 16,885,201 | 15,765,906 | ||||||||||||
Property and equipment, net | 597,393 | 545,675 | 572,615 | 606,193 | ||||||||||||
Operating lease right-to-use asset | 2,106,977 | 2,200,031 | 1,915,302 | 2,012,155 | ||||||||||||
Goodwill | 1,954,460 | 1,954,460 | 1,954,460 | 1,954,460 | ||||||||||||
Other assets | 41,611 | 84,892 | 49,136 | 86,714 | ||||||||||||
Total assets | $ | 19,353,946 | $ | 18,692,542 | $ | 21,376,714 | $ | 20,425,428 | ||||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||||||||||
Current liabilities: | ||||||||||||||||
Unexpired subscription revenue | $ | 9,972,001 | $ | 9,646,407 | $ | 10,398,984 | $ | 9,520,226 | ||||||||
Accounts payable | 181,914 | 130,089 | 225,447 | 358,307 | ||||||||||||
Current portion of operating lease liability | 169,516 | 161,874 | 185,549 | 177,485 | ||||||||||||
Current portion of bank loan | 1,561,500 | 1,299,007 | ||||||||||||||
Accrued expenses | 1,687,076 | 1,822,485 | 1,461,163 | 1,745,290 | ||||||||||||
Total current liabilities | 13,572,007 | 13,059,862 | 12,271,143 | 11,801,308 | ||||||||||||
Deferred taxes on income, net | 332,897 | 333,432 | 484,296 | 407,805 | ||||||||||||
Unexpired subscription revenue, less current portion | 159,066 | 197,545 | 227,467 | 127,124 | ||||||||||||
Bank loan, less current portion | 0 | 262,493 | ||||||||||||||
Operating lease liability, less current portion | 2,051,513 | 2,137,559 | 1,865,964 | 1,960,127 | ||||||||||||
Total liabilities | 16,115,483 | 15,990,891 | 14,848,870 | 14,296,364 | ||||||||||||
Stockholders’ equity: | ||||||||||||||||
Preferred stock, $0.01 par value; authorized 5,000,000 shares; 0ne issued | 0 | 0 | 0 | 0 | ||||||||||||
Common stock, $0.01 par value; authorized 32,500,000 shares; issued and outstanding 10,722,401 shares | 107,224 | 107,224 | 107,224 | 107,224 | ||||||||||||
Additional paid-in capital | 29,786,923 | 29,760,533 | 29,859,233 | 29,824,242 | ||||||||||||
Accumulated deficit | (26,655,684 | ) | (27,166,106 | ) | (23,438,613 | ) | (23,802,402 | ) | ||||||||
Total stockholders’ equity | 3,238,463 | 2,701,651 | 6,527,844 | 6,129,064 | ||||||||||||
Total liabilities and stockholders’ equity | $ | 19,353,946 | $ | 18,692,542 | $ | 21,376,714 | $ | 20,425,428 |
2021 | 2020 | 2022 | 2021 | |||||||||||||
Operating revenues | $ | 4,248,179 | $ | 3,852,003 | $ | 4,450,017 | $ | 4,248,179 | ||||||||
Operating expenses: | ||||||||||||||||
Data and product costs | 1,573,686 | 1,515,469 | 1,715,574 | 1,573,686 | ||||||||||||
Selling, general and administrative expenses | 2,190,382 | 2,394,266 | 2,342,699 | 2,190,382 | ||||||||||||
Depreciation and amortization | 66,503 | 53,693 | 107,000 | 66,503 | ||||||||||||
Total operating expenses | 3,830,571 | 3,963,428 | 4,165,273 | 3,830,571 | ||||||||||||
Income (loss) from operations | 417,608 | (111,425 | ) | |||||||||||||
Income from operations | 284,744 | 417,608 | ||||||||||||||
Other income | 246 | 3,417 | 11,090 | 246 | ||||||||||||
Income (loss) before income taxes | 417,854 | (108,008 | ) | |||||||||||||
(Provision for) benefit from income taxes | (95,146 | ) | 136,929 | |||||||||||||
Income before income taxes | 295,834 | 417,854 | ||||||||||||||
Provision for income taxes | (83,166 | ) | (95,146 | ) | ||||||||||||
Net income | $ | 322,708 | $ | 28,921 | $ | 212,668 | $ | 322,708 | ||||||||
Net income per share – Basic and diluted | $ | 0.03 | $ | 0.00 | $ | 0.02 | $ | 0.03 | ||||||||
Weighted average number of common shares outstanding – | ||||||||||||||||
Basic | 10,722,401 | 10,722,401 | 10,722,401 | 10,722,401 | ||||||||||||
Diluted | 10,792,744 | 10,722,401 | 10,775,373 | 10,792,744 |
2021 | 2020 | 2022 | 2021 | |||||||||||||
Operating revenues | $ | 8,381,081 | $ | 7,560,754 | $ | 8,788,220 | $ | 8,381,081 | ||||||||
Operating expenses: | ||||||||||||||||
Data and product costs | 3,201,472 | 3,041,797 | 3,473,486 | 3,201,472 | ||||||||||||
Selling, general and administrative expenses | 4,391,174 | 4,809,524 | 4,633,801 | 4,391,174 | ||||||||||||
Depreciation and amortization | 131,016 | 107,805 | 201,209 | 131,016 | ||||||||||||
Total operating expenses | 7,723,662 | 7,959,126 | 8,308,496 | 7,723,662 | ||||||||||||
Income (loss) from operations | 657,419 | (398,372 | ) | |||||||||||||
Income from operations | 479,724 | 657,419 | ||||||||||||||
Other income | 3,494 | 26,101 | 11,787 | 3,494 | ||||||||||||
Income (loss) before income taxes | 660,913 | (372,271 | ) | |||||||||||||
(Provision for) benefit from income taxes | (150,491 | ) | 202,844 | |||||||||||||
Income before income taxes | 491,511 | 660,913 | ||||||||||||||
Provision for income taxes | (127,722 | ) | (150,491) | |||||||||||||
Net income | $ | 510,422 | $ | (169,427 | ) | $ | 363,789 | $ | 510,422 | |||||||
Net income per share – Basic and diluted | $ | 0.05 | $ | (0.02 | ) | $ | 0.03 | $ | 0.05 | |||||||
Weighted average number of common shares outstanding – | ||||||||||||||||
Basic | 10,722,401 | 10,722,401 | 10,722,401 | 10,722,401 | ||||||||||||
Diluted | 10,779,726 | 10,722,401 | 10,761,851 | 10,779,726 |
Additional | Total | Additional | Total | |||||||||||||||||||||||||||||||||||||
Common Stock | Paid-in Capital | Accumulated Deficit | Stockholders’ Equity | Common Stock | Paid-in Capital | Accumulated Deficit | Stockholders’ Equity | |||||||||||||||||||||||||||||||||
Shares | Amount | |||||||||||||||||||||||||||||||||||||||
Balance April 1, 2020 | 10,722,401 | $ | 107,224 | $ | 29,720,901 | $ | (27,317,026 | ) | $ | 2,511,099 | ||||||||||||||||||||||||||||||
Net income | - | 0 | 0 | 28,921 | 28,921 | |||||||||||||||||||||||||||||||||||
Stock-based compensation | - | 0 | 15,228 | 0 | 15,228 | |||||||||||||||||||||||||||||||||||
Balance June 30, 2020 | 10,722,401 | $ | 107,224 | $ | 29,736,129 | $ | (27,288,105 | ) | $ | 2,555,248 | ||||||||||||||||||||||||||||||
Shares | Amount | Paid-in Capital | Accumulated Deficit | Stockholders’ Equity | ||||||||||||||||||||||||||||||||||||
Balance April 1, 2021 | 10,722,401 | $ | 107,224 | $ | 29,769,955 | $ | (26,978,392 | ) | $ | 2,898,787 | 10,722,401 | $ | 107,224 | |||||||||||||||||||||||||||
Net income | - | 0 | 0 | 322,708 | 322,708 | - | 0 | 0 | 322,708 | 322,708 | ||||||||||||||||||||||||||||||
Stock-based compensation | - | 0 | 16,968 | 0 | 16,968 | - | 0 | 16,968 | 0 | 16,968 | ||||||||||||||||||||||||||||||
Balance June 30, 2021 | 10,722,401 | $ | 107,224 | $ | 29,786,923 | $ | (26,655,684 | ) | $ | 3,238,463 | 10,722,401 | $ | 107,224 | $ | 29,786,923 | $ | (26,655,684 | ) | $ | 3,238,463 | ||||||||||||||||||||
Balance April 1, 2022 | 10,722,401 | $ | 107,224 | $ | 29,843,574 | $ | (23,651,281 | ) | $ | 6,299,517 | ||||||||||||||||||||||||||||||
Net income | - | 0 | 0 | 212,668 | 212,668 | |||||||||||||||||||||||||||||||||||
Stock-based compensation | - | 0 | 15,659 | 0 | 15,659 | |||||||||||||||||||||||||||||||||||
Balance June 30, 2022 | 10,722,401 | $ | 107,224 | $ | 29,859,233 | $ | (23,438,613 | ) | $ | 6,527,844 |
Additional | Total | Additional | Total | |||||||||||||||||||||||||||||||||||||
Common Stock | Paid-in Capital | Accumulated Deficit | Stockholders’ Equity | Common Stock | Paid-in Capital | Accumulated Deficit | Stockholders’ Equity | |||||||||||||||||||||||||||||||||
Shares | Amount | |||||||||||||||||||||||||||||||||||||||
Balance January 1, 2020 | 10,722,401 | $ | 107,224 | $ | 29,705,673 | $ | (27,118,678 | ) | $ | 2,694,219 | ||||||||||||||||||||||||||||||
Net loss | - | 0 | 0 | (169,427 | ) | (169,427 | ) | |||||||||||||||||||||||||||||||||
Stock-based compensation | - | 0 | 30,456 | 0 | 30,456 | |||||||||||||||||||||||||||||||||||
Balance June 30, 2020 | 10,722,401 | $ | 107,224 | $ | 29,736,129 | $ | (27,288,105 | ) | $ | 2,555,248 | ||||||||||||||||||||||||||||||
Shares | Amount | Paid-in Capital | Accumulated Deficit | Stockholders’ Equity | ||||||||||||||||||||||||||||||||||||
Balance January 1, 2021 | 10,722,401 | $ | 107,224 | $ | 29,760,533 | $ | (27,166,106 | ) | $ | 2,701,651 | 10,722,401 | $ | 107,224 | |||||||||||||||||||||||||||
Net income | - | 0 | 0 | 510,422 | 510,422 | - | 0 | 0 | 510,422 | 510,422 | ||||||||||||||||||||||||||||||
Stock-based compensation | - | 0 | 26,390 | 0 | 26,390 | - | 0 | 26,390 | 0 | 26,390 | ||||||||||||||||||||||||||||||
Balance June 30, 2021 | 10,722,401 | $ | 107,224 | $ | 29,786,923 | $ | (26,655,684 | ) | $ | 3,238,463 | 10,722,401 | $ | 107,224 | $ | 29,786,923 | $ | (26,655,684 | ) | $ | 3,238,463 | ||||||||||||||||||||
Balance January 1, 2022 | 10,722,401 | $ | 107,224 | $ | 29,824,242 | $ | (23,802,402 | ) | $ | 6,129,064 | ||||||||||||||||||||||||||||||
Net income | - | 0 | 0 | 363,789 | 363,789 | |||||||||||||||||||||||||||||||||||
Stock-based compensation | - | 0 | 34,991 | 0 | 34,991 | |||||||||||||||||||||||||||||||||||
Balance June 30, 2022 | 10,722,401 | $ | 107,224 | $ | 29,859,233 | $ | (23,438,613 | ) | $ | 6,527,844 |
2021 | 2020 | 2022 | 2021 | |||||||||||||
Cash flows from operating activities: | ||||||||||||||||
Net income (loss) | $ | 510,422 | $ | (169,427 | ) | |||||||||||
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||||||||||||||
Net income | $ | 363,789 | $ | 510,422 | ||||||||||||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||||||
Deferred income taxes | (535 | ) | (203,657 | ) | 76,491 | (535 | ) | |||||||||
Depreciation and amortization | 131,016 | 107,805 | 201,209 | 131,016 | ||||||||||||
Operating lease right-to-use asset, net | 14,652 | 18,434 | 10,755 | 14,652 | ||||||||||||
Stock-based compensation | 26,390 | 30,456 | 34,991 | 26,390 | ||||||||||||
Changes in operating assets and liabilities: | ||||||||||||||||
Accounts receivable | (387,939 | ) | 17,895 | (643,913 | ) | (387,939 | ) | |||||||||
Other current assets | (215,261) | (248,805 | ) | (229,139 | ) | (215,261 | ) | |||||||||
Other assets | 43,282 | 2,273 | 37,576 | 43,282 | ||||||||||||
Unexpired subscription revenue | 287,115 | 748,936 | 979,101 | 287,115 | ||||||||||||
Accounts payable | 51,826 | (50,131) | (132,860 | ) | 51,826 | |||||||||||
Accrued expenses | (135,409 | ) | (66,334 | ) | (284,127 | ) | (135,409 | ) | ||||||||
Net cash provided by operating activities | 325,559 | 187,445 | 413,873 | 325,559 | ||||||||||||
Cash flows from investing activities: | ||||||||||||||||
Sale of available-for-sale securities – municipal bonds | 458,237 | 0 | 0 | 458,237 | ||||||||||||
Purchase of property and equipment | (182,734 | ) | (69,131 | ) | (167,631 | ) | (182,734 | ) | ||||||||
Net cash provided by (used in) investing activities | 275,503 | (69,131 | ) | |||||||||||||
Net cash (used in) provided by investing activities | (167,631 | ) | 275,503 | |||||||||||||
Cash flows from financing activities: | ||||||||||||||||
Proceeds from bank loan | 0 | 1,561,500 | ||||||||||||||
Net cash provided by financing activities | 0 | 1,561,500 | ||||||||||||||
Net increase in cash and cash equivalents | 601,062 | 1,679,814 | 246,242 | 601,062 | ||||||||||||
Cash and cash equivalents at beginning of period | 10,302,732 | 8,275,836 | 12,381,521 | 10,302,732 | ||||||||||||
Cash and cash equivalents at end of period | $ | 10,903,794 | $ | 9,955,650 | $ | 12,627,763 | $ | 10,903,794 |
3 Months Ended June 30, | 6 Months Ended June 30, | |||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||
Data and product costs | $ | 5,393 | $ | 5,583 | $ | 9,245 | $ | 11,166 | ||||||||
Selling, general and administrative expenses | 11,575 | 9,645 | 17,145 | 19,290 | ||||||||||||
$ | 16,968 | $ | 15,228 | $ | 26,390 | $ | 30,456 |
3 Months Ended June 30, | 6 Months Ended June 30, | |||||||||||||||
2022 | 2021 | 2022 | 2021 | |||||||||||||
Data and product costs | $ | 3,754 | $ | 5,393 | $ | 11,041 | $ | 9,245 | ||||||||
Selling, general and administrative expenses | 11,905 | 11,575 | 23,950 | 17,145 | ||||||||||||
$ | 15,659 | $ | 16,968 | $ | 34,991 | $ | 26,390 |
June 30, 2021 | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Cash and cash equivalents | $ | 10,903,794 | $ | 0 | $ | 0 | $ | 10,903,794 |
June 30, 2022 | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Cash and cash equivalents | $ | 12,627,763 | $ | 0 | $ | 0 | $ | 12,627,763 |
December 31, 2020 | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Cash and cash equivalents | $ | 10,302,732 | $ | 0 | $ | 0 | $ | 10,302,732 | ||||||||
Available-for-sale securities | $ | - | $ | 458,237 | $ | 0 | $ | 458,237 |
December 31, 2021 | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Cash and cash equivalents | $ | 12,381,521 | $ | 0 | $ | 0 | $ | 12,381,521 |
3 Months Ended June 30, | 6 Months Ended June 30, | 3 Months Ended June 30, | 6 Months Ended June 30, | |||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||||||
Weighted average number of common shares outstanding – basic | 10,722,401 | 10,722,401 | 10,722,401 | 10,722,401 | 10,722,401 | 10,722,401 | 10,722,401 | 10,722,401 | ||||||||||||||||||||||||
Potential shares exercisable under stock option plans | 278,100 | 0 | 278,100 | 0 | 277,300 | 278,100 | 276,391 | 278,100 | ||||||||||||||||||||||||
LESS: Shares which could be repurchased under treasury stock method | (207,757 | ) | 0 | (220,775 | ) | 0 | (224,328 | ) | (207,757 | ) | (236,941 | ) | (220,775 | ) | ||||||||||||||||||
Weighted average number of common shares outstanding – diluted | 10,792,744 | 10,722,401 | 10,779,726 | 10,722,401 | 10,775,373 | 10,792,744 | 10,761,851 | 10,779,726 |
Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |
June 30, 2021 | December 31, 2020 | |||||||
Cash and cash equivalents | $ | 10,904 | $ | 10,303 | ||||
Accounts receivable, net | $ | 2,945 | $ | 2,557 | ||||
Working capital | $ | 1,081 | $ | 848 | ||||
Cash ratio | 0.80 | 0.79 | ||||||
Quick ratio | 1.02 | 0.98 | ||||||
Current ratio | 1.08 | 1.06 |
June 30, 2022 | December 31, 2021 | |||||||
Cash and cash equivalents | $ | 12,628 | $ | 12,382 | ||||
Accounts receivable, net | $ | 3,447 | $ | 2,803 | ||||
Working capital | $ | 4,614 | $ | 3,964 | ||||
Cash ratio | 1.03 | 1.05 | ||||||
Quick ratio | 1.31 | 1.29 | ||||||
Current ratio | 1.38 | 1.34 |
3 Months Ended June 30, | ||||||||||||||||||||||||||||||||
2021 | 2020 | 3 Months Ended June 30, | ||||||||||||||||||||||||||||||
Amount | % of Total Operating Revenues | Amount | % of Total Operating Revenues | 2022 | 2021 | |||||||||||||||||||||||||||
Amount | % of Total Operating Revenues | Amount | % of Total Operating Revenues | |||||||||||||||||||||||||||||
Operating revenues | $ | 4,248,179 | 100.00 | % | $ | 3,852,003 | 100.00 | % | $ | 4,450,017 | 100 | % | $ | 4,248,179 | 100 | % | ||||||||||||||||
Operating expenses: | ||||||||||||||||||||||||||||||||
Data and product costs | 1,573,686 | 37.04 | % | 1,515,469 | 39.34 | % | 1,715,574 | 39 | % | 1,573,686 | 37 | % | ||||||||||||||||||||
Selling, general and administrative expenses | 2,190,382 | 51.56 | % | 2,394,266 | 62.16 | % | 2,342,699 | 52 | % | 2,190,382 | 52 | % | ||||||||||||||||||||
Depreciation and amortization | 66,503 | 1.57 | % | 53,693 | 1.39 | % | 107,000 | 2 | % | 66,503 | 1 | % | ||||||||||||||||||||
Total operating expenses | 3,830,571 | 90.17 | % | 3,963,428 | 102.89 | % | 4,165,273 | 93 | % | 3,830,571 | 90 | % | ||||||||||||||||||||
Income (loss) from operations | 417,608 | 9.83 | % | (111,425 | ) | (2.89 | %) | |||||||||||||||||||||||||
Income from operations | 284,744 | 7 | % | 417,608 | 10 | % | ||||||||||||||||||||||||||
Other income, net | 246 | 0.01 | % | 3,417 | 0.09 | % | 11,090 | 0 | % | 246 | 0 | % | ||||||||||||||||||||
Income (loss) before income taxes | 417,854 | 9.84 | % | (108,008 | ) | (2.80 | %) | |||||||||||||||||||||||||
Income before income taxes | 295,834 | 7 | % | 417,854 | 10 | % | ||||||||||||||||||||||||||
Provision for income taxes | (95,146 | ) | (2.24 | %) | 136,929 | 3.55 | % | (83,166 | ) | (2 | %) | (95,146 | ) | (2 | %) | |||||||||||||||||
Net income | $ | 322,708 | 7.60 | % | $ | 28,921 | 0.75 | % | $ | 212,668 | 5 | % | $ | 322,708 | 8 | % |
6 Months Ended June 30, | ||||||||||||||||
2022 | 2021 | |||||||||||||||
Amount | % of Total Operating Revenues | Amount | % of Total Operating Revenues | |||||||||||||
Operating revenues | $ | 8,788,220 | 100 | % | $ | 8,381,081 | 100 | % | ||||||||
Operating expenses: | ||||||||||||||||
Data and product costs | 3,473,486 | 40 | % | 3,201,472 | 38 | % | ||||||||||
Selling, general and administrative expenses | 4,633,801 | 53 | % | 4,391,174 | 52 | % | ||||||||||
Depreciation and amortization | 201,209 | 2 | % | 131,016 | 2 | % | ||||||||||
Total operating expenses | 8,308,496 | 95 | % | 7,723,662 | 92 | % | ||||||||||
Income from operations | 479,724 | 5 | % | 657,419 | 8 | % | ||||||||||
Other income, net | 11,787 | 0 | % | 3,494 | 0 | % | ||||||||||
Income before income taxes | 491,511 | 5 | % | 660,913 | 8 | % | ||||||||||
Provision for income taxes | (127,722 | ) | (1 | %) | (150,491 | ) | (2 | %) | ||||||||
Net income | $ | 363,789 | 4 | % | $ | 510,422 | 6 | % |
6 Months Ended June 30, | ||||||||||||||||
2021 | 2020 | |||||||||||||||
Amount | % of Total Operating Revenues | Amount | % of Total Operating Revenues | |||||||||||||
Operating revenues | $ | 8,381,081 | 100.00 | % | $ | 7,560,754 | 100.00 | % | ||||||||
Operating expenses: | ||||||||||||||||
Data and product costs | 3,201,472 | 38.20 | % | 3,041,797 | 40.23 | % | ||||||||||
Selling, general and administrative expenses | 4,391,174 | 52.39 | % | 4,809,524 | 63.61 | % | ||||||||||
Depreciation and amortization | 131,016 | 1.56 | % | 107,805 | 1.43 | % | ||||||||||
Total operating expenses | 7,723,662 | 92.16 | % | 7,959,126 | 105.27 | % | ||||||||||
Income (loss) from operations | 657,419 | 7.84 | % | (398,372 | ) | (5.27 | %) | |||||||||
Other income, net | 3,494 | 0.04 | % | 26,101 | 0.35 | % | ||||||||||
Income (loss) before income taxes | 660,913 | 7.89 | % | (372,271 | ) | (4.92 | %) | |||||||||
Provision for income taxes | (150,491 | ) | (1.80 | %) | 202,844 | 2.68 | % | |||||||||
Net income (loss) | $ | 510,422 | 6.09 | % | $ | (169,427 | ) | (2.24 | %) |
Item 4. | Controls and Procedures |
Item 6. | Exhibits |
Certification of Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 | ||
Certification of Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 | ||
Certification of Chief Executive Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 | ||
Certification of Chief Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 | ||
101.INS | XBRL Instance Document | |
101.SCH | XBRL Taxonomy Extension Schema Document | |
101.CAL | XBRL Taxonomy Extension Calculation Linkbase Document | |
101.DEF | XBRL Taxonomy Extension Definition Linkbase Document | |
101.LAB | XBRL Taxonomy Extension Label Linkbase Document | |
101.PRE | XBRL Taxonomy Extension Presentation Linkbase Document |
CREDITRISKMONITOR.COM, INC. | |||
(REGISTRANT) | |||
Date: August | By: /s/ | Steven Gargano | |
Steven Gargano | |||
Senior Vice President & Chief Financial Officer | |||
(Principal |