Current Report Filing (8-k)
2020年11月13日 - 6:13AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 29, 2020
CreditRiskMonitor.com, Inc.
(Exact name of registrant as specified in its charter)
Nevada
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1-8601
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36-2972588
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(State or other jurisdiction of incorporation)
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(Commission File Number)
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(IRS Employer Identification No.)
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704 Executive Boulevard
Valley Cottage, NY 10989
(Address of principal executive offices, including zip code)
(845) 230-3000
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant to Section 12(b) of the Act:
Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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Common Stock, par value $.01
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CRMZ
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OTC Markets OTCQX U.S.
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934
(§240.12b-2 of this chapter).
Emerging growth company
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange
Act. ☐
Item 2.02
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Results of Operation and Financial Condition
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On November 12, 2020, CreditRiskMonitor.com, Inc. issued a press release relating to, among other things, its financial results for the three and nine months ended September 30,
2020. This press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
The information contained in this Item 2.02 and Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it
be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.
Item 5.02
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
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On October 29, 2020, the Board of Directors of the Company promoted Michael I. Flum to the position of President. Mr. Flum joined the Company in June 2018 as Vice President of Operations & Alternative Data. He was elected Senior Vice President and Chief Operating Officer on October 24, 2019 and in that position was responsible for operational strategy and
implementation, leveraging technology to improve the efficiency of human capital and work processes. Prior to joining CreditRiskMonitor, Mr. Flum served as Vice President of Operations at Gullett & Associates, Inc., a Houston-based midstream
oil & gas survey and drafting services firm from 2016 to 2017. Mr. Flum held various engineering and project management roles at Enterprise Products Partners, a Houston-based oil & gas pipeline owner/operator from 2009 to 2016. Mr. Flum
holds a BS in Mechanical Engineering and a BA in Religious Studies from Rice University as well as an MBA from Columbia Business School.
On October 29, 2020, Due to the economic crisis, the Board of Directors of the Company determined that the appropriate thing to do would be to postpone any declaration or payment of the Company’s annual dividend until
the Company sees an increased stability in marketplace. The Board’s determination was based on review of world-record corporate debt-to-GDP levels, increased default rates, and the challenging economic environment, including the continued
uncertainty regarding financial stability of the Company’s subscribers and a mounting second wave of COVID-19 infections. The Company is dedicated to ensuring the safety and safeguarding the jobs of our employees. The company retained its payroll
levels and employees throughout the year. We will continue to invest in strengthening our staff, service model, and product to meet our client’s credit risk needs. Therefore, preservation of liquidity until there is evincible data to suggest
control of the pandemic is paramount. The Board expects to review this determination periodically throughout 2021.
Item 9.01
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Financial Statements and Exhibits.
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Exhibit No.
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Description
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Press Release dated November 12, 2020
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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CREDITRISKMONITOR.COM, INC.
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By: /s/ Steven Gargano
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Steven Gargano
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Chief Financial Officer
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(Principal Financial and Accounting Officer)
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Credit Risk Monitor Com (QX) (USOTC:CRMZ)
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から 5 2023 まで 5 2024
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