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: June 30, 1999


[ ] 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)

                         2001 Marcus Avenue, Suite W290
                          Lake Success, New York 11042
                    (Address of principal executive offices)

                                 (516) 327-2400
                           (Issuer's telephone number)

Check whether the registrant  (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 registrant 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 -- 5,300,129 shares outstanding as of July 31, 1999.


Transitional Small Business Disclosure Format (check one):  Yes [ ]   No [X]


<PAGE>


                  CREDITRISKMONITOR.COM, INC. AND SUBSIDIARIES
                                      INDEX

                                                                            Page
                                                                            ----

PART I. FINANCIAL INFORMATION

     Item 1. Financial Statements

         Consolidated Balance Sheets - June 30, 1999 (Unaudited)
         and December 31, 1998 (Audited)...................................... 3

         Consolidated Statements of Operations for the Three Months
         Ended June 30, 1999 and 1998 (Unaudited)............................. 4

         Consolidated Statements of Operations for the Six Months
         Ended June 30, 1999 and 1998 (Unaudited)............................. 5

         Consolidated Statements of Cash Flows for the Six Months
         Ended June 30, 1999 and 1998 (Unaudited)............................. 6

         Condensed Notes to Consolidated Financial Statements................. 7

     Item 2. Management's Discussion and Analysis of Financial Condition
         and Results of Operations........................................... 10


PART II. OTHER INFORMATION

     Item 4. Submission of Matters to a Vote of Security Holders............. 13

     Item 6. Exhibits and Reports on Form 8-K................................ 13


SIGNATURES................................................................... 15



                                      -2-
<PAGE>


PART I. FINANCIAL INFORMATION

Item 1. Financial Statements

                  CREDITRISKMONITOR.COM, INC. AND SUBSIDIARIES
                           CONSOLIDATED BALANCE SHEETS
                       JUNE 30, 1999 AND DECEMBER 31, 1998


<TABLE>
<CAPTION>
                                                                   June 30,           Dec. 31,
                                                                     1999               1998
                                                                  (Unaudited)         (Audited)
<S>                                                               <C>             <C>
                                     ASSETS
Curent assets:
     Cash and cash equivalents                                    $  1,644,421    $     13,400
     Accounts receivable                                               379,214            --
     Purchase Option                                                      --           115,000
     Other                                                              12,446            --
                                                                  ------------    ------------
         Total current assets                                        2,036,081         128,400

Fixed assets:
     Fixed assets                                                      267,932            --
     Less: Accumulated depreciation                                    (24,526)           --
                                                                  ------------    ------------
         Total fixed assets                                            243,406            --

Other assets:
     Goodwill                                                        2,240,479            --
     Other                                                               6,349            --
                                                                  ------------    ------------
         Total other assets                                          2,246,828            --
                                                                  ------------    ------------

TOTAL ASSETS                                                      $  4,526,315    $    128,400
                                                                  ============    ============


                 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Current liabilities:
     Unearned income                                              $    895,662    $       --
     Accounts payable                                                   52,208           5,908
     Accrued liabilities                                                71,906          86,364
     Other                                                               9,534           5,500
                                                                  ------------    ------------
         Total current liabilities                                   1,029,310          97,772

Deferred salary                                                         41,250            --
Secured Promissory Note                                                792,908            --
Expense Promissory Note                                                101,688            --
                                                                  ------------    ------------

         Total liabilities                                           1,965,156          97,772

Redeemable convertible voting senior preferred stock                      --         1,100,000

Stockholders' equity (deficit):
     Common stock                                                       53,001           3,998
     Additional paid-in capital                                     27,063,500      22,818,930
     Accumulated deficit                                           (24,555,342)    (23,892,300)
                                                                  ------------    ------------
         Total stockholders' equity (deficit)                        2,561,159      (1,069,372)
                                                                  ------------    ------------

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)              $  4,526,315    $    128,400
                                                                  ============    ============
</TABLE>



     See accompanying condensed notes to consolidated financial statements.


                                      -3-
<PAGE>


                  CREDITRISKMONITOR.COM, INC. AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                FOR THE THREE MONTHS ENDED JUNE 30, 1999 AND 1998
                                   (Unaudited)


                                                        1999            1998
                                                     -----------    -----------

Revenues:
     Subscription income                             $   286,386    $      --
     Total other income                                   16,814          1,265
                                                     -----------    -----------
         Total revenues                                  303,200          1,265

Expenses:
     Salaries and employee benefits                      345,384           --
     Data and product costs                              106,468           --
     Selling, general and administrative expenses         87,331         23,980
     Depreciation and amortization                        44,246           --
     Interest expense                                     21,148           --
     Loss on sale of fixed assets                          3,191           --
                                                     -----------    -----------
         Total expenses                                  607,768         23,980
                                                     -----------    -----------

Income (loss) before income taxes                       (304,568)       (22,715)
Provision for income taxes                                  --             --
                                                     -----------    -----------

Net income (loss)                                    $  (304,568)   $   (22,715)
                                                     ===========    ===========


Net income (loss) per share of common stock:

     Basic                                           $     (0.06)   $     (0.06)
                                                     ===========    ===========

     Diluted                                         $     (0.06)   $     (0.06)
                                                     ===========    ===========

Weighted average number of common shares
outstanding:

     Basic                                             5,300,129        399,830
                                                     ===========    ===========

     Diluted                                           5,300,129        399,830
                                                     ===========    ===========


     See accompanying condensed notes to consolidated financial statements.


                                      -4-
<PAGE>


                  CREDITRISKMONITOR.COM, INC. AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                 FOR THE SIX MONTHS ENDED JUNE 30, 1999 AND 1998
                                   (Unaudited)


                                                       1999             1998
                                                     -----------    -----------

Revenues:
     Subscription income                             $   561,025    $      --
     Total other income                                   37,928          6,504
                                                     -----------    -----------
         Total revenues                                  598,953          6,504

Expenses:
     Salaries and employee benefits                      623,385           --
     Data and product costs                              163,497           --
     Selling, general and administrative expenses        227,299         25,693
     Depreciation and amortization                        72,479           --
     Interest expense                                     38,048           --
     Write-off of intangible assets                      134,076           --
     Loss on sale of fixed assets                          3,191           --
                                                     -----------    -----------
         Total expenses                                1,261,975         25,693
                                                     -----------    -----------

Income (loss) before income taxes                       (663,022)       (19,189)
Provision for income taxes                                  --              375
                                                     -----------    -----------

Net income (loss)                                    $  (663,022)   $   (19,564)
                                                     ===========    ===========


Net income (loss) per share of common stock:

     Basic                                           $     (0.13)   $     (0.05)
                                                     ===========    ===========

     Diluted                                         $     (0.13)   $     (0.05)
                                                     ===========    ===========

Weighted average number of common shares
outstanding:

     Basic                                             5,300,129        399,830
                                                     ===========    ===========

     Diluted                                           5,300,129        399,830
                                                     ===========    ===========


     See accompanying condensed notes to consolidated financial statements.


                                      -5-
<PAGE>


                  CREDITRISKMONITOR.COM, INC. AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                 FOR THE SIX MONTHS ENDED JUNE 30, 1999 AND 1998
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                          1999            1998
                                                                       -----------    -----------
<S>                                                                    <C>            <C>
Cash flows from operating activities:
     Net income (loss)                                                 $  (663,022)   $   (19,564)
     Adjustments to reconcile net income
         (loss) to net cash provided (used)
         by operations:
              Write-off of intangible assets                               134,076           --
              Loss on sale of fixed assets                                   3,191           --
              Depreciation and amortization                                 72,479           --
              Amortization of debt discount                                 34,522           --
              Deferred interest expense                                      3,526           --
              Deferred salary                                               41,250           --
              Gain on marketable investment securities                        --              (15)
     Changes in assets and liabilities, net of business acquisition:
              Decrease in accounts receivable                               29,264           --
              Increase in other current assets                             (12,446)          --
              Decrease in Purchase Option                                  115,000           --
              Increase in unearned income                                   99,309           --
              Increase (decrease) in accounts payable                       46,300     (1,300,000)
              Decrease in accrued liabilities                              (14,458)          --
              Increase in other current liabilities                          4,034           --
                                                                       -----------    -----------
Net cash provided (used) by operating
     activities                                                           (106,975)    (1,319,579)
                                                                       -----------    -----------

Cash flows from investing activities:
     Payment for purchase of assets from Market
         Guide Inc., net of debt issued                                 (1,393,492)          --
     Purchase of fixed assets                                              (55,716)          --
     Increase in other assets                                               (6,349)          --
                                                                       -----------    -----------
Net cash used by investing activities                                   (1,455,557)          --
                                                                       -----------    -----------

Cash flows from financing activities:
     Proceeds from private offering, net of
         offering expenses                                               3,193,553           --
                                                                       -----------    -----------
Net cash provided by financing activities                                3,193,553           --
                                                                       -----------    -----------

Net increase (decrease) in cash and cash
     equivalents                                                         1,631,021     (1,319,579)
Cash and cash equivalents at beginning of
     period                                                                 13,400      1,399,274
                                                                       -----------    -----------

Cash and cash equivalents at end of period                             $ 1,644,421    $    79,695
                                                                       ===========    ===========


SUPPLEMENTAL DISCLOSURE OF NONCASH
     FINANCING ACTIVITIES:
         Issuance of Promissory Notes                                  $   856,548    $      --
                                                                       ===========    ===========
</TABLE>

     See accompanying condensed notes to consolidated financial statements.


                                      -6-
<PAGE>


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


(1)  Name Change

The  Company  (formerly  New  Generation  Foods,   Inc.)  changed  its  name  to
CreditRiskMonitor.com, Inc. effective May 11, 1999.

(2)  Basis of Presentation

The consolidated  financial statements included herein have been prepared by the
Company,  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
generally accepted accounting principles have been condensed or omitted pursuant
to  such  rules  and  regulations,   although  the  Company  believes  that  the
disclosures are adequate to make the information presented not misleading. These
consolidated  financial  statements  should  be read  in  conjunction  with  the
consolidated  financial statements and the notes thereto in the Company's annual
report on Form 10-KSB for the year ended December 31, 1998.

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 June 30, 1999
and the results of its  operations  and its cash flows for the six month periods
ended June 30, 1999 and 1998.

Results of operations for the six month periods ended June 30, 1999 and 1998 are
not necessarily indicative of the results of a full year.

Certain  prior year  amounts have been  reclassified  to conform with the fiscal
1999 presentation.

(3)  Purchase of CreditRisk Monitor and Capital Transactions

In September 1998, the Company  entered into an option  agreement (the "Purchase
Option")  to  purchase  the  assets of the  CreditRisk  Monitor  ("CRM")  credit
information  service from Market Guide Inc.  ("MGI").  CRM is an Internet  based
service  providing credit reports to corporate  personnel on retailing and other
companies  incorporating  MGI developed  financial  information,  peer and trend
analysis,  news, alert notifications,  and other vital information.  The Company
paid $60,000 for the Purchase  Option in addition to paid and accrued legal fees
totaling  $55,000.  On  December  29,  1998,  the  Company  notified  MGI of its
intention to exercise this Purchase Option, which was consummated on January 19,
1999.

On January 19, 1999, the Company  exercised its option to purchase the assets of
CRM. The assets purchased included customer contracts,  receivables,  equipment,
software,  and  intangibles.  The net present  value of the  purchase  price was
approximately  $2,150,000 (inclusive of the $60,000 paid for the Purchase Option
in September  1998),  of which $1.23 million was paid at closing and the balance
is represented by two secured  promissory notes (one for approximately  $100,000
and the other for $760,000,  net of $240,000


                                      -7-
<PAGE>


discount).  These  promissory  notes  provide  for  the  deferral  of  principal
amortization  until February 2001 (for the $100,000 note which bears interest at
8.5 percent) and July 2001 (for the $1.0 million note which bears  interest at 6
percent),  respectively.  Both  notes are then  payable  over 24 months  and are
secured  by the  assets  purchased  and  substantially  all other  assets of the
Company.  The $1.0 million note provides for no interest  through June 30, 2001,
while the other note provides for the deferral of interest  until debt servicing
commences.

Concurrently,  the Company  completed a private placement of 1,300,000 shares of
its common stock to approximately 25 "accredited  investors" at a purchase price
of $2.50 per share, for gross proceeds of $3.25 million.  The proceeds from this
offering  were used to finance the cash portion of the CRM  acquisition  and the
remainder will be used for future working capital needs.  These  securities were
subsequently   registered   under  a   Registration   Statement   on  Form  SB-2
(Registration No. 333-77727)  declared  effective by the Securities and Exchange
Commission on May 17, 1999.

In anticipation of the exercise of the option,  in November 1998, Flum Partners,
a related party,  provided the Company with a line of credit of up to $20,000 of
which only  $5,500 was drawn upon and,  in  consideration  thereof,  the Company
agreed to issue to Flum Partners 2,000 shares of common stock.  As a participant
in the private  placement,  Flum  Partners  purchased  160,000  shares of common
stock.  In addition,  as a condition  to the private  placement,  Flum  Partners
agreed to convert all of its  1,100,000  shares of senior  preferred  stock into
3,598,299  shares  of common  stock on or prior to the  closing  of the  private
placement. This conversion was effected as of January 19, 1999.

This  acquisition  was  accounted for using the purchase  method of  accounting.
Accordingly,  a portion of the purchase  price was allocated to net tangible and
intangible  assets acquired based on their estimated fair values.  A portion was
also  allocated to in-process  research and  development  projects that have not
reached technological  feasibility and have no probable alternative future uses.
This amount ($134,076) was written-off in the first quarter of 1999. The balance
of the purchase price was recorded as goodwill,  and is being  amortized over 20
years.

The following unaudited pro forma summary for the six months ended June 30, 1998
presents the  consolidated  results of operations as if the acquisition had been
made at the beginning of 1998.  These results do not purport to be indicative of
what would have occurred had the acquisition actually been made as of January 1,
1998 or the results which may occur in the future.

Revenues                                                            $   335,138
                                                                    ===========
Net income (loss)                                                   $  (838,338)
                                                                    ===========
Net income (loss) per share - basic                                 $     (0.16)
                                                                    ===========
Net income (loss) per share - diluted                               $     (0.16)
                                                                    ===========

Net income  (loss) per share was computed on a pro forma basis giving  effect to
the issuance of 1,300,000 common shares,  the conversion of the 1,100,000 shares
of redeemable  preferred stock into 3,598,299 common shares, and the issuance of

                                      -8-
<PAGE>


2,000  common  shares to Flum  Partners.  All of these stock  transactions  were
related to the acquisition.

(4)  Net Income (Loss) Per Share

In February 1997, the Financial  Accounting Standards Board issued SFAS No. 128,
"Earnings  Per Share." SFAS No. 128  establishes  standards  for  computing  and
presenting  earnings  per  share  ("EPS").   SFAS  No.  128  requires  the  dual
presentation  of basic and diluted EPS on the face of the  statement  of income.
Basic EPS  excludes  dilution  and is computed by dividing  income  available to
common  shareholders by the weighted average number of common shares outstanding
for the period.  Diluted EPS reflects the potential dilution that could occur if
securities or other  contracts to issue common stock were exercised or converted
into common stock. The Company adopted SFAS No. 128 during fiscal 1997.



                                      -9-
<PAGE>

ITEM 2. MANAGEMENT'S  DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS


Results of Operations

     The Company  terminated its business as a food  manufacturer on October 22,
1993, when it sold its natural foods  distribution  business to American Pacific
Financial  Corporation (the "Asset Sale"). It conducted no operations during the
six months ended June 30, 1998. Results for this period reflect selling, general
and administrative expenses in excess of interest and dividend income.

     In January  1999,  the  Company  acquired  the assets of CRM and  commenced
operations.  Accordingly,  the three and six month  periods  ended June 30, 1999
reflects the  operating  results of the  Company's  credit  information  service
business.  This business began selling its product in April 1997 and is still in
its early stages of development.  As a start-up  business,  the Company incurred
net losses of $304,568  and $663,022 for the three and six months ended June 30,
1999,  respectively.  Included is a write-off of $134,076 representing a portion
of the purchase price paid for the CRM assets  allocated to in-process  research
and  development  projects that have not reached  technological  feasibility and
have no probable alternative future uses.

     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 market in which it competes,  the Company is unable to  accurately
forecast its revenues.  However,  the Company expects that cash receipts will be
approximately  $1.6 million for 1999.  The Company's  current and future expense
levels  are  based  largely  on its  investment  plans and  estimates  of future
revenues and are to a large extent fixed.  Sales and operating results generally
depend on the volume of,  timing of and ability to sign new  subscribers,  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,  purchasing,  service,  marketing  or
acquisition decisions that could have a material adverse effect on its business,
prospects, financial condition and results of operations.

     Factors that may adversely affect the Company's quarterly operating results
include, among others, (i) the Company's ability to retain existing subscribers,
attract new subscribers at a steady rate and maintain  subscriber  satisfaction,
(ii) the development,  announcement or introduction of new services and products
by the Company and its competitors, (iii) price competition, (iv) the increasing
acceptance of the Internet for the purchase of credit  information  such as that
offered by the  Company,  (v) the  Company's  ability to upgrade and develop its
systems and infrastructure,  (vi) the Company's ability to attract new personnel
in a timely  and  effective  manner,  (vii)  the  Company's  ability  to  manage
effectively  the  broadening  of its


                                      -10-
<PAGE>


product to encompass  additional  companies monitored and the development of new
products, (viii) the Company's ability to successfully manage the integration of
third-party  data into its Internet site,  (ix) technical  difficulties,  system
downtime or Internet brownouts, (x) the amount and timing of operating costs and
capital expenditures relating to expansion of the Company's business, operations
and infrastructure, and (xi) general economic conditions and economic conditions
specific to the Internet and the credit information industry.

LIQUIDITY AND CAPITAL RESOURCES

     From October 1993,  when it sold its previous  natural  foods  distribution
business, through the end of 1998 the Company had no revenues from operations.

     During this period,  the Company received  revenues from notes issued to it
in connection with its 1993 Asset Sale. During 1998 the Company was required, by
the terms of its then  outstanding  Series A and Series B Preferred Stock (which
required  payment  of  liquidation  preferences  upon  a  sale  or  transfer  of
substantially  all  the  assets  of the  Company)  to  pay  out  the  applicable
liquidation preferences to Flum Partners, the holder of those series.

     As previously  reported,  the Company issued to Flum Partners at the end of
1997 and in the first  quarter  of 1998 a total of $1.8  million  of cash,  plus
1,100,000 shares of its new Senior Preferred Stock  (convertible  into 3,598,299
shares of Common Stock) in payment of the  liquidation  preferences  and accrued
dividends  on the Series A Preferred  Stock and Series B Preferred  Stock.  This
cash payment effectively dissipated all of the Company's liquid assets as at the
end of 1997 and the share  issuance gave Flum Partners the right to own and vote
90% of the Company's outstanding equity shares.

     Jerome Flum's employment contract was terminated effective December 1, 1997
and he agreed, for a twelve-month  period, to attempt to identify and consummate
a transaction which would increase the value of the Company.

     During 1998 the Company  located,  investigated and negotiated the purchase
of the CRM business then owned by MGI. In September  1998 the Company  purchased
an option to purchase the assets of the CRM business and it exercised its option
on December 29, 1998. The transaction closed effective January 19, 1999.

     In order to  raise  funds to pay the  $1.23  million  cash  portion  of the
purchase  price for the CRM  assets,  the costs of the  acquisition  and to have
sufficient  working  capital to continue to develop and run that  business,  the
Company completed a private placement of 1,300,000 shares on January 19, 1999 of
its Common Stock to approximately 25 "accredited  investors" at a purchase price
of $2.50 per share,  for gross  proceeds of $3.25 million.  Management  believes
that the proceeds of this offering will provide adequate working capital to fund
operating losses of CRM until cash breakeven has been achieved.

     The transactions  described above,  along with the issuance of 2,000 shares
of Common  Stock to Flum  Partners  in  November  1998 in  consideration  of its
provision to the Company of a line of credit and the conversion by Flum Partners
of its Senior  Preferred  shares into Common Stock on or about January 19, 1999,
resulted in Flum Partners owning almost 72% of the Company's  outstanding Common
Stock (which is its only equity security now outstanding) after the 1998 Private
Placement.


                                      -11-
<PAGE>


     At June 30, 1999, the Company had cash,  cash  equivalents and other liquid
assets of $1,644,421  compared to $13,400 of liquid assets at December 31, 1998,
and had working capital of $1,006,771, compared to working capital of $30,628 at
December  31, 1998.  The Company has no bank lines of credit or other  currently
available credit sources.

     Funds from the 1998 Private Placement became available to the Company on or
about  January 19, 1999,  at which date the Company paid the cash portion of the
purchase price for the CRM assets, paid the expenses of the purchase transaction
and retained the remaining proceeds for use as working capital over the next two
years.

YEAR 2000 PLANNING

     The  Company  has  implemented  a Year  2000  program  to  ensure  that the
Company's and the Company's vendors' and business partners' computer systems and
applications will function properly beyond 1999. The Company's current principal
supplier of data for use in the  preparation  of the Company's  credit  analyses
reports is MGI. Pursuant to the outstanding Database License Agreement,  MGI has
agreed to  furnish  data  which is year 2000  compliant.  The  Company  has also
identified  vendor and business  partner  software with which it  electronically
interacts,  and has requested Year 2000 compliance  certifications.  The Company
has received  assurances from those vendors and business  partners whose systems
are not currently Year 2000 compliant that the necessary  modifications,  or new
versions of software,  will be made  available by 2000. The Company has reviewed
and  tested  all  of its  computers  systems  and  Internet-based  products  and
determined that they are all Year 2000 Compliant. The Company defines "Year 2000
Compliant" as the ability of its hardware and software to recognize and properly
process data beyond December 31, 1999 as well  recognizing that the Year 2000 is
a leap year and that any  calculations  dependent upon knowing this fact will be
performed correctly.  The Company's cost to comply with the Year 2000 initiative
is not expected to be material.

FORWARD-LOOKING STATEMENTS

     Part I, Item 2 (Management's Discussion and Analysis of Financial Condition
and Results of Operations)  of this Quarterly  Report on Form 10-QSB may contain
forward-looking  statements,  including  statements  regarding future prospects,
industry  trends,  competitive  conditions,  litigation  and Year  2000  systems
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 expectation are those listed in Part I,
Item 2 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>


PART II. OTHER INFORMATION

Item 4. Submission of Matters to a Vote of Security Holders

     A written consent in lieu of a Special Meeting of Stockholders was obtained
     from Flum Partners,  the owner of 71.64% of the outstanding Common Stock of
     the  Company,  as well as from Mr.  Flum,  who owns or  controls  3,910,353
     shares of such Common  Stock,  including the shares of Flum  Partners,  and
     became effective Tuesday, May 11, 1999 for the following purposes:

     (1)  To approve an Amended and Restated Certificate of Incorporation of the
          Company which:

          (a)  Changed the name of the Company to "CreditRiskMonitor.com, Inc.";

          (b)  Revoked  descriptions of preferences for the Company's  Series A,
               Series B and Senior  Preferred  Stock  (all  shares of which have
               been redeemed or converted to Common Stock) and retained only the
               existing  authorization  for up to 5,000,000  shares of Preferred
               Stock,  the  particular  designations,  powers,  preferences  and
               rights of which may be determined by the Board of Directors  from
               time to time.

     (2)  To approve the Company's new 1998 Long-Term Incentive Plan; and

     (3)  To amend the  Company's  By-Laws to permit  election of members of the
          Board of Directors by written consent of the stockholders.

     An  Information  Statement  dated April 20, 1999, in  connection  with such
     consent,  was  submitted to the  stockholders  of the Company,  pursuant to
     Section 14(c) of the Exchange Act.


Item 6. Exhibits and Reports on Form 8-K

(a)  Exhibits

     27. Financial Data Schedule.

(b)  Reports on Form 8-K

     The Company filed  Amendment No. 1, dated April 2, 1999,  and Amendment No.
     2, dated April 5, 1999, to its Form 8-K dated January 19, 1999, relating to
     the  completion  of its  purchase of the assets of the  CreditRisk  Monitor
     credit  information  service from Market Guide Inc. Included therein,  were
     the following financial statements and pro forma financial information: (1)
     Financial Statements of CreditRisk Monitor, a division of Market Guide Inc.
     as of and for the fiscal  years ended  February  28, 1998 and  February 28,
     1997  together  with the Report of Zerbo,  McKiernan  and  Zambito  L.L.C.,
     independent auditors;  (2) Balance Sheets of CreditRisk Monitor, a division
     of Market Guide Inc. as of November 30, 1998  (Unaudited)  and February 28,
     1998;  Unaudited Statements of Operations and Accumulated Deficit for the 3
     months  and 9 months  ended  November  30,  1998  and



                                      -13-
<PAGE>

     November  30,  1997;  Unaudited  Statements  of Cash Flows for the 9 months
     ended  November  30,  1998  and  November  30,  1997;  and  (3)  Pro  Forma
     Consolidated   Balance  Sheet  as  of  December  31,  1998  and  Pro  Forma
     Consolidated Statement of Operations of the Company for the year then ended
     and showing  balance sheet and income  statement  items for New  Generation
     Foods,  Inc. and CreditRisk  Monitor both  historically  and on a Pro-Forma
     Combined basis as though the Company had operated as a combined  entity for
     that 12-month  period and  incorporating  changes due to the Company's 1998
     Private Placement which was actually completed in January 1999.



                                      -14-
<PAGE>


                                   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: August 9, 1999                    By: /s/ Lawrence Fensterstock
                                                 Lawrence Fensterstock
                                                 Chief Financial Officer


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