UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB

|X|   QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
      OF 1934

               For the quarterly period ended: September 30, 2004

|_|   TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT

            For the transition period from ___________ to ___________

                          Commission file number 1-8601

                           CREDITRISKMONITOR.COM, INC.
        (Exact name of small business issuer as specified in its charter)

               Nevada                                    36-2972588
 (State or other jurisdiction of           (I.R.S. Employer Identification No.)
  incorporation or organization)

                          704 Executive Drive, Suite A
                         Valley Cottage, New York 10989
                    (Address of principal executive offices)

                                 (845) 230-3000
                           (Issuer's telephone number)

Check whether the issuer (1) has filed all reports required to be filed by
Section 13 or 15(d) of the Securities and Exchange Act of 1934 during the
preceding 12 months (or for such shorter period that the issuer was required to
file such reports), and (2) has been subject to such filing requirements for the
past 90 days.

                                 Yes |X|   No |_|

                APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
                     PROCEEDINGS DURING THE PAST FIVE YEARS

Check whether the registrant filed all documents and reports required to be
filed by Sections 12, 13 or 15(d) of the Exchange Act after the distribution of
securities under a plan confirmed by a court.

                                 Yes |_|   No |_|

                      APPLICABLE ONLY TO CORPORATE ISSUERS

State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest practical date:

Common stock $.01 par value -- 7,679,462 shares outstanding as of October 29,
2004.

Transitional Small Business Disclosure Format (check one): Yes |_|  No |X|

<PAGE>

                   CREDITRISKMONITOR.COM, INC. AND SUBSIDIARY
                                      INDEX

                                                                            Page
                                                                            ----

PART I. FINANCIAL INFORMATION

     Item 1. Financial Statements

         Consolidated Balance Sheets - September 30, 2004 (Unaudited)
         and December 31, 2003.................................................2

         Consolidated Statements of Operations for the Three Months
         Ended September 30, 2004 and 2003 (Unaudited).........................3

         Consolidated Statements of Operations for the Nine Months
         Ended September 30, 2004 and 2003 (Unaudited).........................4

         Consolidated Statements of Cash Flows for the Nine Months
         Ended September 30, 2004 and 2003 (Unaudited).........................5

         Condensed Notes to Consolidated Financial Statements..................6

     Item 2. Management's Discussion and Analysis of Financial Condition
         and Results of Operations.............................................9

     Item 3. Controls and Procedures..........................................15

PART II. OTHER INFORMATION

     Item 1. Legal Proceedings................................................16

     Item 2. Changes in Securities and Small Business Issuer Purchases
         of Equity Securities.................................................16

     Item 6. Exhibits and Reports on Form 8-K.................................16

SIGNATURES....................................................................18

EXHIBITS

     31.1   Certification of Chief Executive Officer Pursuant to
            Section 302 of the Sarbanes-Oxley Act of 2002.....................19

     31.2   Certification of Chief Financial Officer Pursuant to
            Section 302 of the Sarbanes-Oxley Act of 2002.....................21

     32.1   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.............................23

     32.2   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.............................24


                                       1
<PAGE>

PART I. FINANCIAL INFORMATION

Item 1. Financial Statements

                   CREDITRISKMONITOR.COM, INC. AND SUBSIDIARY
                           CONSOLIDATED BALANCE SHEETS
                    SEPTEMBER 30, 2004 AND DECEMBER 31, 2003

<TABLE>
<CAPTION>
                                                            Sept. 30,          Dec. 31,
                                                              2004                2003
                                                              ----                ----
                                                           (Unaudited)
<S>                                                        <C>                <C>
ASSETS
Current assets:
     Cash and cash equivalents                             $    943,806       $  1,138,447
     Accounts receivable, net of allowance                      481,681            504,591
     Other current assets                                       108,750            102,602
                                                           ------------       ------------

         Total current assets                                 1,534,237          1,745,640

Property and equipment, net                                     119,734             80,000
Goodwill, net                                                 1,954,460          1,954,460
Prepaid and other assets                                         38,621             18,880
                                                           ------------       ------------

         Total assets                                      $  3,647,052       $  3,798,980
                                                           ============       ============

LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
     Deferred revenue                                      $  2,020,450       $  2,032,478
     Accounts payable                                           214,576            208,065
     Accrued expenses                                           172,029            112,418
     Current portion of long-term debt                           97,550             90,328
     Current portion of capitalized lease obligations            12,687             10,873
                                                           ------------       ------------

         Total current liabilities                            2,517,292          2,454,162
                                                           ------------       ------------

Long-term debt, net of current portion:
     Promissory note                                            546,694            620,787
     Capitalized lease obligations                               17,131              2,757
                                                           ------------       ------------
                                                                563,825            623,544
Deferred rent payable                                             1,913              5,295
Deferred compensation                                            88,890            238,750
                                                           ------------       ------------

         Total liabilities                                    3,171,920          3,321,751
                                                           ------------       ------------

Stockholders' equity:
     Common stock                                                76,794             74,074
     Additional paid-in capital                              28,122,383         28,035,096
     Accumulated deficit                                    (27,724,045)       (27,631,941)
                                                           ------------       ------------

         Total stockholders' equity                             475,132            477,229
                                                           ------------       ------------

         Total liabilities and stockholders' equity        $  3,647,052       $  3,798,980
                                                           ============       ============
</TABLE>

     See accompanying condensed notes to consolidated financial statements.


                                       2
<PAGE>

                   CREDITRISKMONITOR.COM, INC. AND SUBSIDIARY
                      CONSOLIDATED STATEMENTS OF OPERATIONS
             FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2004 AND 2003
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                               2004              2003
                                                               ----              ----
<S>                                                        <C>               <C>
Operating revenues                                         $   851,231       $   756,999

Operating expenses:
     Data and product costs                                    282,366           290,896
     Selling, general and administrative expenses              530,357           620,271
     Depreciation and amortization                              15,499            22,195
                                                           -----------       -----------

         Total operating expenses                              828,222           933,362
                                                           -----------       -----------

Income (loss) from operations                                   23,009          (176,363)
Other income                                                     2,193             1,010
Interest expense                                               (18,183)          (20,001)
Loss on retirement of fixed assets                                (267)               --
                                                           -----------       -----------

Income (loss) before income taxes                                6,752          (195,354)
Provision for state and local income taxes                          --              (282)
                                                           -----------       -----------

Net income (loss)                                          $     6,752       $  (195,636)
                                                           ===========       ===========

Net income (loss) per share of common stock:

     Basic and diluted                                     $      0.00       $     (0.04)
                                                           ===========       ===========

Weighted average number of common shares outstanding:

     Basic and diluted                                       7,559,649         5,512,879
                                                           ===========       ===========
</TABLE>

     See accompanying condensed notes to consolidated financial statements.


                                       3
<PAGE>

                   CREDITRISKMONITOR.COM, INC. AND SUBSIDIARY
                      CONSOLIDATED STATEMENTS OF OPERATIONS
              FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2004 AND 2003
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                               2004              2003
                                                               ----              ----
<S>                                                        <C>               <C>
Operating revenues                                         $ 2,484,855       $ 2,210,493

Operating expenses:
     Data and product costs                                    801,120           934,580
     Selling, general and administrative expenses            1,678,074         1,811,675
     Depreciation and amortization                              47,759            69,469
                                                           -----------       -----------

         Total operating expenses                            2,526,953         2,815,724
                                                           -----------       -----------

Loss from operations                                           (42,098)         (605,231)
Other income                                                     5,779             5,428
Interest expense                                               (55,292)          (61,854)
Loss on retirement of fixed assets                                (267)               --
                                                           -----------       -----------

Loss before income taxes                                       (91,878)         (661,657)
Provision for state and local income taxes                        (226)             (982)
                                                           -----------       -----------

Net loss                                                   $   (92,104)      $  (662,639)
                                                           ===========       ===========

Net loss per share of common stock:

     Basic and diluted                                     $     (0.01)      $     (0.12)
                                                           ===========       ===========

Weighted average number of common shares outstanding:

     Basic and diluted                                       7,458,191         5,450,379
                                                           ===========       ===========
</TABLE>

     See accompanying condensed notes to consolidated financial statements.


                                       4
<PAGE>

                   CREDITRISKMONITOR.COM, INC. AND SUBSIDIARY
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
              FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2004 AND 2003
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                              2004             2003
                                                                              ----             ----
<S>                                                                       <C>               <C>
Cash flows from operating activities:
     Net loss                                                             $   (92,104)      $  (662,639)
     Adjustments to reconcile net loss to net
         cash used in operating activities:
              Depreciation                                                     47,759            69,469
              Deferred compensation                                                --            12,500
              Deferred rent                                                    (3,382)           (2,102)
              Loss on retirement of fixed assets                                  267                --
     Changes in operating assets and liabilities:
         Accounts receivable                                                   22,910           111,272
         Other current assets                                                  (6,148)           13,435
         Prepaid and other assets                                             (19,741)           (3,643)
         Deferred revenue                                                     (12,028)          (24,246)
         Accounts payable                                                       6,511           112,819
         Accrued expenses                                                        (249)           18,390
                                                                          -----------       -----------

Net cash used in operating activities                                         (56,205)         (354,745)
                                                                          -----------       -----------

Cash flows from investing activities:
     Purchase of fixed assets                                                 (61,365)           (6,562)
                                                                          -----------       -----------

Net cash used in investing activities                                         (61,365)           (6,562)
                                                                          -----------       -----------

Cash flows from financing activities:
     Issuance of common stock                                                      --            19,800
     Proceeds from exercise of stock options                                        7                 8
     Payments on promissory note                                              (66,871)          (53,415)
     Payments on capital lease obligations                                    (10,207)           (7,851)
                                                                          -----------       -----------

Net cash used in financing activities                                         (77,071)          (41,458)
                                                                          -----------       -----------

Net decrease in cash and cash equivalents                                    (194,641)         (402,765)
Cash and cash equivalents at beginning of
     period                                                                 1,138,447           988,427
                                                                          -----------       -----------

Cash and cash equivalents at end of period                                $   943,806       $   585,662
                                                                          ===========       ===========

Supplemental schedule of noncash investing and
     financing activities:
         Acquisition of computer equipment under
              capital lease                                               $    26,395       $        --
                                                                          ===========       ===========
</TABLE>

     See accompanying condensed notes to consolidated financial statements.


                                       5
<PAGE>

                   CREDITRISKMONITOR.COM, INC. AND SUBSIDIARY
              CONDENSED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)

(1) Basis of Presentation

The consolidated financial statements included herein have been prepared by
CreditRiskMonitor.com, Inc. (the "Company" or "CRM"), without audit, pursuant to
the rules and regulations of the Securities and Exchange Commission. Certain
information and footnote disclosures normally included in consolidated financial
statements prepared in accordance with accounting principles generally accepted
in the United States have been condensed or omitted pursuant to such rules and
regulations, although the Company believes that the disclosures herein are
adequate to make the information presented not misleading. These financial
statements should be read in conjunction with the financial statements and the
notes thereto in the Company's annual report on Form 10-KSB for the year ended
December 31, 2003.

In the opinion of the Company, the unaudited consolidated financial statements
reflect all adjustments (consisting of normal recurring accruals) considered
necessary to present fairly the Company's financial position as of September 30,
2004 and the results of its operations and its cash flows for the nine-month
periods ended September 30, 2004 and 2003.

Results of operations for the three and nine-month periods ended September 30,
2004 and 2003 are not necessarily indicative of the results of a full year.

Certain prior year amounts have been reclassified to conform with the fiscal
2004 presentation.

(2) Stock-Based Compensation

The Company accounts for its stock-based employee compensation plan in
accordance with the provisions of APB No. 25, "Accounting for Stock Issued to
Employees" and related Interpretations. No stock-based employee compensation
cost is reflected in net loss, as all options granted under this plan had an
exercise price equal to or greater than the market value of the underlying
common stock on the date of grant.

The following table illustrates the effect on net income (loss) and net income
(loss) per share had the Company applied the fair value recognition provisions
of Statement of Financial Accounting Standards ("SFAS") No. 123, "Accounting for
Stock-Based Compensation", to its stock-based employee compensation plan for
periods noted:


                                       6
<PAGE>

<TABLE>
<CAPTION>
                                                   3 Months Ended                   9 Months Ended
                                                    September 30,                    September 30,
                                                    -------------                    -------------
                                                2004             2003            2004           2003
                                                ----             ----            ----           ----
<S>                                           <C>             <C>             <C>             <C>
Net income (loss)
     As reported                              $   6,752       $(195,636)      $ (92,104)      $(662,639)
     Less: Total stock-based employee
         compensation expense determined
         under fair value based method
         for all awards, net of related
         tax benefits or effects                  8,275          (1,324)            958          (7,944)
                                              ---------       ---------       ---------       ---------

     Pro forma                                $  15,027       $(196,960)      $ (91,146)      $(670,583)
                                              =========       =========       =========       =========
Net loss per share - basic and
     diluted
         As reported                          $   (0.00)      $   (0.04)      $   (0.01)      $   (0.12)
         Pro forma                            $   (0.00)      $   (0.04)      $   (0.01)      $   (0.12)
</TABLE>

(3) Recently Issued Accounting Standards

In January 2003, the FASB issued Financial Interpretation No. 46, "Consolidation
of Variable Interest Entities" ("FIN 46"), which addresses consolidation by
business enterprises of variable interest entities ("VIEs"). The accounting
provisions and disclosure requirements of FIN 46 are effective immediately for
VIEs created after January 31, 2003, and are effective for the Company's fiscal
period ending March 31, 2004, for VIEs created prior to February 1, 2003. In
December 2003, the FASB published a revision to FIN 46 ("FIN 46R") to clarify
some of the provisions of the interpretation and to defer the effective date of
implementation for certain entities. Under the guidance of FIN 46R, public
companies that have interests in VIE's that are commonly referred to as special
purpose entities are required to apply the provisions of FIN 46R for periods
ending after December 15, 2003. A public company that does not have any
interests in special purpose entities but does have a variable interest in a VIE
created before February 1, 2003, must apply the provisions of FIN 46R by the end
of the first interim or annual reporting period ending after March 14, 2004. The
Company holds no interest in variable interest entities, thus the adoption of
the provisions of these pronouncements did not have a material effect on the
Company's financial statements.

(4) Deferred Compensation

Beginning January 20, 1999 and continuing through June 30, 2003, the Company's
Chief Executive Officer agreed to defer a portion of his annual salary. The
cumulative amount deferred of $238,750 is non-interest bearing and is payable at
the earlier of (a) the attainment of sustainable cash flow breakeven and (b) the
repayment in full of the revised promissory note issued in connection with the
Company's acquisition of the assets of CRM from Market Guide Inc. In July 2004,
the Company's Board of Directors agreed to issue 200,000 shares of the Company's
common stock with a fair value of $90,000 as partial payment of this liability
as well as paying to the Chief Executive Officer the tax "gross-up" on this
stock award, thereby reducing the cumulative deferred amount by a total of
$150,000.

(5) Legal Proceedings

As previously reported, in November, 2001, the Company commenced the Contempt
Proceedings against Samuel Fensterstock and a competitor (collectively the


                                       7
<PAGE>

"Defendants") in the Supreme Court of the State of New York, Nassau County; on
August 9, 2004, the Court issued a Decision finding that Defendants violated the
Settlement Agreement and were in contempt of the July 2001 Order, and awarded
compensatory and punitive damages against the Defendants aggregating $821,044,
plus attorney fees and legal costs in an amount to be determined. On August 24,
2004, the Court entered a Judgment providing for the enforcement of its award
and assigned a Referee to conduct a hearing concerning the amount of attorneys'
fees and costs to be awarded. On August 30, 2004, Defendants filed a Notice of
Appeal and posted a $900,000 bond to secure the compensatory and punitive
damages awarded in the Judgment. On September 10, 2004 the competitor and Samuel
Fensterstock served separate Motions to Reargue.

In the Company's action against Decision Strategies LLC ("Decision Strategies"),
previously reported, Decision Strategies has moved to dismiss the Company's
complaint, which Motion is returnable on November 16, 2004.

(6) Earnings Per Share

The computation of diluted earnings per share excludes all options since their
inclusion would be anti-dilutive. During the three months ended September 30,
2004, 483,000 options were excluded. During the three months ended September 30,
2003, 566,000 options were excluded.


                                       8
<PAGE>

Item 2. Management's Discussion and Analysis of Financial Condition and Results
of Operations

FINANCIAL CONDITION, LIQUIDITY AND CAPITAL RESOURCES

In December 2003, the Company augmented its working capital by raising $834,000
through the sale of approximately 1.85 million common shares at $0.45 per share
in a private placement.

At September 30, 2004, the Company had cash, cash equivalents and other liquid
assets of $944,000 compared to $1.14 million at December 31, 2003. The Company's
working capital deficit at September 30, 2004 was approximately $983,000
compared to a working capital deficit of approximately $709,000 at December 31,
2003. This decrement was due primarily to a decrease of $195,000 in cash and
cash equivalents and a $60,000 increase in accrued expenses. Additionally, the
working capital deficit is mainly derived from the $2.02 million in deferred
revenue, which should not require any future cash outlay other than the cost of
preparation and delivery of the applicable commercial credit reports. The
deferred revenue is taken into income over the subscription term, which
approximates twelve months. The Company has no bank lines of credit or other
currently available credit sources.

For the nine months ended September 30, 2004, the Company reported a $195,000
decrease in cash and cash equivalents compared to a $403,000 decrease for the
same period in the prior fiscal year. Excluding payment of expenses incurred in
connection with the Contempt Proceeding, the Competitor Action and the other
litigation described in Part II, Item 1 (collectively, the "Litigation") the
Company had positive cash flow of $34,000 for the nine months ended September
30, 2004 versus a cash flow deficit of $77,000 (also excluding payment of
Litigation expenses) for the comparable period in fiscal 2003.

The Company believes that its legal fees are likely to continue to be
significant as a result of (i) Defendants' motion to reargue in the Contempt
Proceedings, (ii) a decision by Defendants to appeal in the Contempt Proceedings
if its motion to reargue is denied, (iii) the proceeding before the Referee to
determine legal fees and court costs, and (iv) the ongoing litigation involving
Decision Strategies. Nevertheless, the Company believes that in the aggregate
such legal fees will be materially reduced from their prior level during the
Hearing in the Contempt Proceedings (which concluded in November 2003).
Additionally, the appellants have posted a bond that will secure the damages
awarded by the court.

The Company further believes that in the Contempt Proceedings the substantial
award of actual and punitive damages as well as its court costs and legal fees
should benefit its cash position. In addition, the Defendants should no longer
be able to engage in anti-competitive activities which violate the Settlement
Agreement, in which event the Company's ability to retain and/or obtain
customers should be improved. Moreover, the Company believes that the court, in
its discretion, may also award legal fees and court costs incurred in connection
with the motions to reargue, Defendants' appeal and the proceeding before the
Referee. There can be no assurance that any of the above results will be
achieved, or that any amounts awarded in excess of the bond posted by Defendants
will be collectible in whole or in part.

The parties currently are engaged in discovery in connection with the Competitor
Action. The Company believes that (a) the competitor's claims are


                                       9
<PAGE>

without merit, (b) in any event, the Company's counterclaims should reduce or
eliminate the effect of any recovery the competitor may obtain, and (c) even if
the competitor pursues the Competitor Action, the Company's ongoing legal fees
nevertheless should be materially reduced. There can be no assurance that any of
the above results will be achieved.

The Company believes that Decision Strategies' claims are without merit and
intends to vigorously prosecute its action and defend Decision Strategies'
action.

Although the negative cash flow impact of the Company's legal fees has been
materially reduced to date in 2004, the Company nevertheless may be cash flow
negative, after debt service, during 2004. This is due to incurrence of certain
non-recurring capital expenditures in connection with its move to its new leased
facility and the Company's decision to co-locate its production servers at an
offsite location, both of which occurred in the third quarter of 2004. However,
the Company believes that it will have sufficient resources to meet its working
capital and capital expenditure needs, including debt service, for at least the
next 12 months and, if it is correct in its assessment of the effect of the
Litigation on the improvement of its cash flow and gross revenues, for the
longer term as well.

OFF-BALANCE SHEET ARRANGEMENTS

The Company is not a party to any off-balance sheet arrangements.

RESULTS OF OPERATIONS

<TABLE>
<CAPTION>
                                                        3 Months Ended September 30,
                                                        ----------------------------
                                                     2004                           2003
                                                     ----                           ----
                                                          % of Total                      % of Total
                                            Amount          Income          Amount          Income
                                            ------          ------          ------          ------
<S>                                       <C>                <C>          <C>                <C>
Operating revenues                        $ 851,231          100.00%      $ 756,999          100.00%

Operating expenses:
   Data and product costs                   282,366           33.17%        290,896           38.43%
   Selling, general & administrative        530,357           62.30%        620,271           81.94%
   Depreciation and amortization             15,499            1.82%         22,195            2.93%
                                          ---------       ---------       ---------       ---------
     Total operating expenses               828,222           97.30%        933,362          123.30%
                                          ---------       ---------       ---------       ---------

Income (loss) from operations                23,009            2.70%       (176,363)         -23.30%
Other income                                  2,193            0.26%          1,010            0.13%
Interest expense                            (18,183)          -2.14%        (20,001)          -2.64%
Loss on retirement of fixed assets             (267)          -0.03%             --            0.00%
                                          ---------       ---------       ---------       ---------

Income (loss) before income taxes             6,752            0.79%       (195,354)         -25.81%
Provision for income taxes                       --            0.00%           (282)          -0.04%
                                          ---------       ---------       ---------       ---------

Net income (loss)                         $   6,752            0.79%      $(195,636)         -25.84%
                                          =========       =========       =========       =========
</TABLE>

Operating revenues increased 12% for the three months ended September 30, 2004.
This increase was primarily due to an increase in the number of subscribers to
the Company's Internet subscription service offset in part by a decrease in the
number of subscribers to the Company's subscription service for third-party
international credit reports.

Data and product costs decreased 3% for the third quarter of 2004 compared to
the same period of fiscal 2003. This decrease was primarily due to the lower
cost of acquiring third-party international credit reports, and lower salary and
related employee benefits resulting from a decrease in headcount, offset


                                       10
<PAGE>

partially by the cost of the co-location facility and consultant fees incurred
in connection with the moves described above.

Selling, general and administrative expenses decreased 14% for the third quarter
of fiscal 2004 compared to the same period of fiscal 2003. This decrease was
primarily due to a decrease in legal fees incurred in connection with the
Litigation, partially offset by an increase in rent expense due to the
incurrence of rental payments on both the Company's old and new leased
facilities as well as slightly higher salary and related employee benefit costs
due to an increase in the Company's sales force during the past 12 months.

Depreciation and amortization decreased 30% for the third quarter of fiscal 2004
compared to the same period of fiscal 2003. This decrease was due to a lower
depreciable asset base during most of the quarter, as certain items have been
fully depreciated but are still in use, offset by depreciation expense recorded
for the assets either purchased or leased in connection with the Company's move
and the decision to co-locate its production servers.

Other income increased 117% for third quarter of fiscal 2004 compared to the
same period last year. This increase was due to a higher level of funds invested
in interest bearing accounts during the current quarter compared to the same
period last year due to the funds raised in the December 2003 private placement.

Interest expense decreased 9% for the third quarter of fiscal 2004 compared to
the same period of fiscal 2003. This decrease was due to a lower outstanding
promissory note balance.

The Company reported net income of $7,000 versus a net loss of $196,000 for the
three months ended September 30, 2004 and 2003, respectively. Excluding the
Litigation expenses of $29,000 and $187,000 for the three months ended September
30, 2004 and 2003, respectively, the Company would have reported net income
(loss) of $36,000 and ($9,000) for the three months ended September 30, 2004 and
2003, respectively.

<TABLE>
<CAPTION>
                                                         9 Months Ended September 30,
                                                         ----------------------------
                                                      2004                             2003
                                                      ----                             ----
                                                           % of Total                        % of Total
                                            Amount            Income          Amount           Income
                                            ------            ------          ------           ------
<S>                                       <C>                  <C>         <C>                  <C>
Operating revenues                        $ 2,484,855          100.00%     $ 2,210,493          100.00%

Operating expenses:
   Data and product costs                     801,120           32.24%         934,580           42.28%
   Selling, general & administrative        1,678,074           67.53%       1,811,675           81.96%
   Depreciation and amortization               47,759            1.92%          69,469            3.14%
                                          -----------       ---------      -----------       ---------
     Total operating expenses               2,526,953          101.69%       2,815,724          127.38%
                                          -----------       ---------      -----------       ---------

Loss from operations                          (42,098)          -1.69%        (605,231)         -27.38%
Other income                                    5,779            0.23%           5,428            0.25%
Interest expense                              (55,292)          -2.23%         (61,854)          -2.80%
Loss on retirement of fixed assets               (267)          -0.01%              --            0.00%
                                          -----------       ---------      -----------       ---------

Loss before income taxes                      (91,878)          -3.70%        (661,657)         -29.93%
Provision for income taxes                       (226)          -0.01%            (982)          -0.04%
                                          -----------       ---------      -----------       ---------

Net loss                                  $   (92,104)          -3.71%     $  (662,639)         -29.98%
                                          ===========       =========      ===========       =========
</TABLE>

Operating revenues increased 12% for the nine months ended September 30, 2004.
This increase was primarily due to an increase in the number of subscribers


                                       11
<PAGE>

to the Company's Internet subscription service offset in part by a decrease in
the number of subscribers to the Company's subscription service for third-party
international credit reports.

Data and product costs decreased 14% for the first nine months of fiscal 2004
compared to the same period of fiscal 2003. This decrease was primarily due to
the lower cost of acquiring third-party international credit reports, and lower
salary and related employee benefits resulting from a decrease in headcount.

Selling, general and administrative expenses decreased 7% for the first nine
months of fiscal 2004 compared to the same period of fiscal 2003. This decrease
was primarily due to a decrease in legal fees incurred in connection with the
Litigation offset somewhat by higher salary and related employee benefit costs
due to an increase in commission expense.

Depreciation and amortization decreased 31% for the first nine months of fiscal
2004 compared to the same period of fiscal 2003. This decrease is due to a lower
depreciable asset base as certain items have been fully depreciated but are
still in use.

Other income increased 6% for the nine months ended September 30, 2004 compared
to the same period last year. This increase was due to a higher level of funds
invested in interest bearing accounts during the current quarter compared to the
same period last year due to the funds raised in the December 2003 private
placement.

Interest expense decreased 11% for the first nine months of fiscal 2004 compared
to the same period of fiscal 2003. This decrease was due to a lower outstanding
promissory note balance.

The Company incurred a net loss of $92,000 and $662,000 for the nine months
ended September 30, 2004 and 2003, respectively. Excluding the Litigation
expenses of $192,000 and $409,000 for the nine months ended September 30, 2004
and 2003, respectively, the Company would have reported net income (loss) of
$100,000 and ($253,000) for the nine months ended September 30, 2004 and 2003,
respectively.

CRITICAL ACCOUNTING POLICIES, ESTIMATES AND JUDGMENTS

The Company's consolidated financial statements are prepared in accordance with
accounting principles that are generally accepted in the United States. The
preparation of these consolidated financial statements require management to
make estimates and judgments that affect the reported amounts of assets and
liabilities and disclosure of contingent assets and liabilities at the date of
the consolidated financial statements and the reported amounts of revenues and
expenses during the reporting period. Management bases its estimates and
judgments on historical experience and other factors that are believed to be
reasonable under the circumstances. Actual results may differ from these
estimates. Management continually evaluates its estimates and judgments, the
most critical of which are those related to:

      Revenue recognition -- CRM's domestic and international service is sold on
      a subscription basis pursuant to customer contracts that span varying
      periods of time, but are generally for a period of one year. The Company
      initially records accounts receivable and defers the related revenue when
      persuasive evidence of an arrangement exists, fees


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<PAGE>

      are fixed or determinable, and collection is reasonably assured. Revenues
      are recognized ratably over the related subscription period. Revenue from
      the Company's third-party international credit report service is
      recognized as information is delivered and products and services are used
      by customers.

      Valuation of goodwill -- Goodwill is reviewed for impairment annually, or
      more frequently if events or changes in circumstances warrant. If the
      carrying value of this asset exceeds its estimated fair value, the Company
      will record an impairment loss to write the asset down to its estimated
      fair value.

      Income taxes -- The Company provides for deferred income taxes resulting
      from temporary differences between financial statement and income tax
      reporting. Temporary differences are differences between the amounts of
      assets and liabilities reported for financial statement purposes and their
      tax bases. Deferred tax liabilities are recognized for temporary
      differences that will be taxable in future years' tax returns. Deferred
      tax assets are recognized for temporary differences that will be
      deductible in future years' tax returns and for operating loss and tax
      credit carryforwards. Deferred tax assets are reduced by a valuation
      allowance if it is deemed more likely than not that some or all of the
      deferred tax assets will not be realized.

FUTURE OPERATIONS

The Company over time intends to expand its operations by expanding the breadth
and depth of its product and service offerings and the introduction of new or
complementary products. Gross margins attributable to new business areas may be
lower than those associated with the Company's existing business activities.

As a result of the Company's limited operating history and the emerging nature
of the markets in which it competes, the Company's ability to accurately
forecast its revenues, gross profits and operating expenses as a percentage of
net sales is limited. The Company's current and future expense levels are based
largely on its investment plans and estimates of future revenues and to a large
extent are fixed. Sales and operating results generally depend on the Company's
ability to attract and retain customers and the volume of and timing of their
subscriptions for the Company's services, which are difficult to forecast. The
Company may be unable to adjust spending in a timely manner to compensate for
any unexpected revenue shortfall. Accordingly, any significant shortfall in
revenues in relation to the Company's planned expenditures would have an
immediate adverse effect on the Company's business, prospects, financial
condition and results of operations. Further, as a strategic response to changes
in the competitive environment, the Company may from time to time make certain
pricing, service, marketing or acquisition decisions that could have a material
adverse effect on its business, prospects, financial condition and results of
operations.

Achieving profitability depends on the Company's ability to generate and sustain
increased revenue levels. The Company believes that its success will depend in
large part on its ability to (i) extend its brand position, (ii) provide its
customers with outstanding value, and (iii) achieve sufficient sales volume to
realize economies of scale. Accordingly, the Company intends to continue to
invest in marketing and promotion, product development and technology and
operating infrastructure development. There can be no


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<PAGE>

assurance that the Company will be able to achieve these objectives within a
meaningful time frame.

The Company expects to experience significant fluctuations in its future
quarterly operating results due to a variety of factors, some of which are
outside the Company's control. Factors that may adversely affect the Company's
quarterly operating results include, among others, (i) the Company's ability to
retain existing customers, attract new customers at a steady rate and maintain
customer satisfaction, (ii) the Company's ability to maintain gross margins in
its existing business and in future product lines and markets, (iii) the
development of new services and products by the Company and its competitors,
(iv) price competition, (v) the level of use of the Internet and online services
and increasing acceptance of the Internet and other online services for the
purchase of products such as those offered by the Company, (vi) the Company's
ability to upgrade and develop its systems and infrastructure, (vii) the
Company's ability to attract new personnel in a timely and effective manner,
(viii) the level of traffic on the Company's Web site, (ix) the Company's
ability to manage effectively its development of new business segments and
markets, (x) the Company's ability to successfully manage the integration of
operations and technology of acquisitions or other business combinations, (xi)
technical difficulties, system downtime or Internet brownouts, (xii) the amount
and timing of operating costs and capital expenditures relating to expansion of
the Company's business, operations and infrastructure, (xiii) governmental
regulation and taxation policies, (xiv) disruptions in service by common
carriers due to strikes or otherwise, (xv) risks of fire or other casualty,
(xvi) continued litigation costs or other unanticipated expenses, and (xvii)
general economic conditions and economic conditions specific to the Internet and
online commerce.

Due to the foregoing factors and the Company's limited forecasting abilities,
the Company believes that period-to-period comparisons of its revenues and
operating results are not necessarily meaningful and should not be relied on as
an indication of future performance.

FORWARD-LOOKING STATEMENTS

This Quarterly Report on Form 10-QSB may contain forward-looking statements,
including statements regarding future prospects, industry trends, competitive
conditions and litigation issues. Any statements contained herein that are not
statements of historical fact may be deemed to be forward-looking statements.
Without limiting the foregoing, the words "believes", "expects", "anticipates",
"plans" or words of similar meaning are intended to identify forward-looking
statements. This notice is intended to take advantage of the "safe harbor"
provided by the Private Securities Litigation Reform Act of 1995 with respect to
such forward-looking statements. These forward-looking statements involve a
number of risks and uncertainties. Among others, factors that could cause actual
results to differ materially from the Company's beliefs or expectations are
those listed under "Results of Operations" and other factors referenced herein
or from time to time as "risk factors" or otherwise in the Company's
Registration Statements or Securities and Exchange Commission reports.


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<PAGE>

Item 3. Controls and Procedures

The Company's management, with the participation of the Company's Chief
Executive Officer and Chief Financial Officer, has evaluated the effectiveness
of the Company's disclosure controls and procedures (as such term is defined in
Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as
amended) as of the end of the period covered by this report. Based on that
evaluation, the Company's Chief Executive Officer and Chief Financial Officer
have concluded that, as of the end of such period, the Company's disclosure
controls and procedures are effective.

There have not been any changes in the Company's internal control over financial
reporting (as such term is defined in Rules 13a-15(f) and 15d-15(f) under the
Securities Exchange Act of 1934, as amended) during our most recent fiscal
quarter that have materially affected, or are reasonably likely to materially
affect, the Company's internal control over financial reporting.


                                       15
<PAGE>

PART II. OTHER INFORMATION

Item 1. Legal Proceedings

As previously reported, in November, 2001, the Company commenced the Contempt
Proceedings against Samuel Fensterstock and a competitor (collectively the
"Defendants") in the Supreme Court of the State of New York, Nassau County; on
August 9, 2004, the Court issued a Decision finding that Defendants violated the
Settlement Agreement and were in contempt of the July 2001 Order, and awarded
compensatory and punitive damages against the Defendants aggregating $821,044,
plus attorney fees and legal costs in an amount to be determined. On August 24,
2004, the Court entered a Judgment providing for the enforcement of its award
and assigned a Referee to conduct a hearing concerning the amount of attorneys'
fees and costs to be awarded. On August 30, 2004, Defendants filed a Notice of
Appeal and posted a $900,000 bond to secure the compensatory and punitive
damages awarded in the Judgment. On September 10, 2004 the competitor and Samuel
Fensterstock served separate Motions to Reargue.

In the Company's action against Decision Strategies LLC ("Decision Strategies"),
previously reported, Decision Strategies has moved to dismiss the Company's
complaint, which Motion is returnable on November 16, 2004.

Item 2. Changes in Securities and Small Business Issuer Purchases of Equity
Securities

The Company is prohibited from paying dividends pursuant to the Loan Security
Agreement that secures its Secured Promissory Note with Market Guide Inc.

Item 6. Exhibits and Reports on Form 8-K

(a)   Exhibits

      31.1  Certification of Chief Executive Officer Pursuant to Section 302 of
            the Sarbanes-Oxley Act of 2002.

      31.2  Certification of Chief Financial Officer Pursuant to Section 302 of
            the Sarbanes-Oxley Act of 2002.

      32.1  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.

      32.2  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.

(b)   Reports on Form 8-K

      o     On August 11, 2004, we furnished a Current Report on Form 8-K
            pursuant to "Item 5. Other Events and Regulation FD Disclosure"
            attaching our press release dated August 11, 2004 that announced the
            Company was awarded in excess of $820,000 in compensatory and
            punitive damages, plus its legal fees and costs (the amount of which
            will be decided in a separate hearing), in its long-pending
            litigation against its competitor and a former Vice President.


                                       16
<PAGE>

      o     On September 1, 2004, we furnished a Current Report on Form 8-K
            pursuant to "Item 8.01. Other Events" attaching our press releases
            dated August 31, 2004 and August 26, 2004 that deal with the posting
            of a $900,000 bond by its competitor to stay execution by the
            Company of its previously reported judgment.

      o     On September 30, 2004, we furnished a Current Report on Form 8-K
            pursuant to "Item 4.01. Changes in Registrant's Certifying
            Accountant" noting that the Audit Committee of the Company's Board
            of Directors dismissed BDO Seidman, LLP and engaged J.H. Cohn LLP as
            the Company's independent registered public accounting firm.


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                                   SIGNATURES

In accordance with the requirements of the Exchange Act, the Registrant caused
this report to be signed on its behalf by the undersigned, thereunto duly
authorized.

                                          CREDITRISKMONITOR.COM, INC.
                                                 (REGISTRANT)


Date: November 15, 2004                   By: /s/ Lawrence Fensterstock
                                                  Lawrence Fensterstock
                                                  Chief Financial Officer


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