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, 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
 incorporation or organization)                              Identification No.)

                         110 Jericho Turnpike, Suite 202
                           Floral Park, New York 11001
                    (Address of principal executive offices)

                                 (516) 620-5400
                           (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 -- 7,407,462 shares outstanding as of July 30, 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 - June 30, 2004 (Unaudited)
       and December 31, 2003..............................................    2

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

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

       Consolidated Statements of Cash Flows for the Six Months
       Ended June 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........................................   14

PART II. OTHER INFORMATION

   Item 1. Legal Proceedings..............................................   15

   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................................................................   17

EXHIBITS

   31.1      Certification of Chief Executive Officer Pursuant to
             Section 302 of the Sarbanes-Oxley Act of 2002................   18

   31.2      Certification of Chief Financial Officer Pursuant to
             Section 302 of the Sarbanes-Oxley Act of 2002................   20

   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........................   22

   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........................   23


                                       1
<PAGE>

PART I. FINANCIAL INFORMATION

Item 1. Financial Statements

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

<TABLE>
<CAPTION>
                                                           June 30,         Dec. 31,
                                                             2004             2003
                                                             ----             ----
                                                         (Unaudited)
<S>                                                      <C>              <C>
ASSETS
Current assets:
     Cash and cash equivalents                           $  1,151,543     $  1,138,447
     Accounts receivable, net of allowance                    350,579          504,591
     Other current assets                                      87,628          102,602
                                                         ------------     ------------

         Total current assets                               1,589,750        1,745,640

Property and equipment, net                                    60,899           80,000
Goodwill, net                                               1,954,460        1,954,460
Prepaid and other assets                                       41,981           18,880
                                                         ------------     ------------

         Total assets                                    $  3,647,090     $  3,798,980
                                                         ============     ============

LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
     Deferred revenue                                    $  2,036,641     $  2,032,478
     Accounts payable                                         202,219          208,065
     Accrued expenses                                         114,232          112,418
     Current portion of long-term debt                         95,081           90,328
     Current portion of capitalized lease obligations           7,359           10,873
                                                         ------------     ------------

         Total current liabilities                          2,455,532        2,454,162
                                                         ------------     ------------

Long-term debt, net of current portion:
     Promissory note                                          572,028          620,787
     Capitalized lease obligations                                 --            2,757
                                                         ------------     ------------
                                                              572,028          623,544
Deferred rent payable                                           2,407            5,295
Deferred compensation                                         238,750          238,750
                                                         ------------     ------------

         Total liabilities                                  3,268,717        3,321,751
                                                         ------------     ------------

Stockholders' equity:
     Common stock                                              74,074           74,074
     Additional paid-in capital                            28,035,096       28,035,096
     Accumulated deficit                                  (27,730,797)     (27,631,941)
                                                         ------------     ------------

         Total stockholders' equity                           378,373          477,229
                                                         ------------     ------------

         Total liabilities and stockholders' equity      $  3,647,090     $  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 JUNE 30, 2004 AND 2003
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                            2004            2003
                                                            ----            ----
<S>                                                     <C>             <C>
Operating revenues                                      $   806,426     $   763,316

Operating expenses:
     Data and product costs                                 248,253         312,229
     Selling, general and administrative expenses           549,413         655,202
     Depreciation and amortization                           14,276          23,408
                                                        -----------     -----------

         Total operating expenses                           811,942         990,839
                                                        -----------     -----------

Loss from operations                                         (5,516)       (227,523)
Other income                                                  1,521           1,406
Interest expense                                            (18,261)        (20,812)
                                                        -----------     -----------

Loss before income taxes                                    (22,256)       (246,929)
Benefit (provision) for state and local income taxes            329            (390)
                                                        -----------     -----------

Net loss                                                $   (21,927)    $  (247,319)
                                                        ===========     ===========

Net loss per share of common stock:

     Basic and diluted                                  $     (0.00)    $     (0.05)
                                                        ===========     ===========

Weighted average number of common shares
outstanding:

     Basic and diluted                                    7,407,462       5,419,129
                                                        ===========     ===========
</TABLE>

     See accompanying condensed notes to consolidated financial statements.


                                       3
<PAGE>

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

                                                         2004           2003
                                                         ----           ----

Operating revenues                                   $ 1,633,624    $ 1,453,494

Operating expenses:
     Data and product costs                              518,754        643,684
     Selling, general and administrative expenses      1,147,716      1,191,404
     Depreciation and amortization                        32,260         47,273
                                                     -----------    -----------

         Total operating expenses                      1,698,730      1,882,361
                                                     -----------    -----------

Loss from operations                                     (65,106)      (428,867)
Other income                                               3,585          4,418
Interest expense                                         (37,109)       (41,853)
                                                     -----------    -----------

Loss before income taxes                                 (98,630)      (466,302)
Provision for state and local income taxes                  (226)          (700)
                                                     -----------    -----------

Net loss                                             $   (98,856)   $  (467,002)
                                                     ===========    ===========

Net loss per share of common stock:

     Basic and diluted                               $     (0.01)   $     (0.09)
                                                     ===========    ===========

Weighted average number of common shares
outstanding:

     Basic and diluted                                 7,407,462      5,419,129
                                                     ===========    ===========

     See accompanying condensed notes to consolidated financial statements.


                                       4
<PAGE>

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

                                                          2004           2003
                                                          ----           ----

Cash flows from operating activities:
     Net loss                                        $   (98,856)   $  (467,002)
     Adjustments to reconcile net loss to net
         cash provided by operating activities:
              Depreciation                                32,260         47,273
              Deferred compensation                           --         12,500
              Deferred rent                               (2,888)        (1,402)
     Changes in operating assets and liabilities:
         Accounts receivable                             154,012        (53,090)
         Other current assets                             14,974         60,009
         Prepaid and other assets                        (23,101)        (9,833)
         Deferred revenue                                  4,163         80,489
         Accounts payable                                 (5,846)        76,397
         Accrued expenses                                  1,814         39,119
                                                     -----------    -----------

Net cash provided by (used in) operating activities       76,532       (215,540)
                                                     -----------    -----------

Cash flows from investing activities:
     Purchase of fixed assets                            (13,159)        (6,562)
                                                     -----------    -----------

Net cash used in investing activities                    (13,159)        (6,562)
                                                     -----------    -----------

Cash flows from financing activities:
     Payments on promissory note                         (44,006)       (32,956)
     Payments on capital lease obligations                (6,271)        (5,144)
                                                     -----------    -----------

Net cash used in financing activities                    (50,277)       (38,100)
                                                     -----------    -----------

Net increase (decrease) in cash and cash
     equivalents                                          13,096       (260,202)
Cash and cash equivalents at beginning of
     period                                            1,138,447        988,427
                                                     -----------    -----------

Cash and cash equivalents at end of period           $ 1,151,543    $   728,225
                                                     ===========    ===========

     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 generally accepted accounting principles
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 June 30, 2004
and the results of its operations and its cash flows for the six-month periods
ended June 30, 2004 and 2003.

Results of operations for the six-month periods ended June 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 loss and net 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              6 Months Ended
                                                     June 30,                    June 30,
                                                     --------                    --------
                                                2004          2003          2004          2003
                                                ----          ----          ----          ----
<S>                                         <C>           <C>           <C>           <C>
Net loss
     As reported                            $  (21,927)   $ (247,319)   $  (98,856)   $ (467,002)
     Less: Total stock-based employee
         compensation expense determined
         under fair value based method
         for all awards, net of related
         tax benefits or effects                (3,658)       (3,310)       (7,317)       (6,620)
                                            ----------    ----------    ----------    ----------

     Pro forma                              $  (25,585)   $ (250,629)   $ (106,173)   $ (473,622)
                                            ==========    ==========    ==========    ==========
Net loss per share - basic and
     diluted
         As reported                        $    (0.00)   $    (0.05)   $    (0.01)   $    (0.09)
         Pro forma                          $    (0.00)   $    (0.05)   $    (0.01)   $    (0.09)
</TABLE>

(3) Recently Issued Accounting Standards

In December 2003, the Financial Accounting Standards Board ("FASB") issued a
revision to SFAS No. 132, "Employers' Disclosures about Pensions and Other
Postretirement Benefits". This statement revises employers' disclosures about
pension plans and other postretirement benefit plans. It requires additional
disclosures related to the assets, obligations, cash flows, and net periodic
benefit cost of defined benefit pension plans and other defined benefit
postretirement plans. It does not change the measurement or recognition of those
plans. This statement does not impact the Company as it has no pension or other
postretirement benefit plans.

In May 2003, the FASB issued SFAS No. 150, "Accounting for Certain Financial
Instruments with Characteristics of both Liabilities and Equity". SFAS No. 150
requires certain financial instruments that have both equity and liability
characteristics to be classified as a liability on the balance sheet. SFAS No.
150 is effective for financial instruments entered into or modified after May
31, 2003, and otherwise is effective at the beginning of the first interim
period beginning after June 15, 2003. The adoption of SFAS No. 150 did not have
a material impact on the Company's consolidated financial statements.

In April 2003, the FASB issued SFAS No. 149, "Amendment of Statement 133 on
Derivative Instruments and Hedging Activities". SFAS No. 149 clarifies the
accounting and reporting for derivative instruments, including certain
derivative instruments embedded in other contracts and for hedging activities
under SFAS No. 133, "Accounting for Derivative Instruments and Hedging
Activities". In particular, SFAS No. 149 clarifies under what circumstances a
contract with an initial net investment meets the characteristic of a derivative
as described in SFAS 133. SFAS No. 149 also clarifies when a derivative contains
a financing component. SFAS No. 149 is generally effective for derivative
instruments entered into or modified after June 30, 2003 and for hedging
relationships designated after June 30, 2003. SFAS No. 149 became effective for
CRM beginning with our third quarter, 2003. The Company holds no derivative
instruments and does not engage in hedging activities.

In January 2003, the FASB issued FASB Interpretation ("FIN") No. 46,
"Consolidation of Variable Interest Entities". FIN No. 46 clarifies the
application of Accounting Research Bulletin No. 51, "Consolidated Financial


                                       7
<PAGE>

Statements", and applies immediately to any variable interest entities created
after January 31, 2003 and to variable interest entities in which an interest is
obtained after that date. The Company holds no interest in variable interest
entities.

(4) Legal Proceedings

As previously reported:

      (a) on November 27, 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, seeking monetary and
punitive damages, legal costs and injunctive relief for violation of the
Settlement Agreement and the July 2001 Court order; and a judicial hearing
concluded on November 21, 2003.

      (b) in February 2003, the competitor commenced the Competitor Action
against the Company, its President and a senior manager, seeking compensatory
damages, exemplary damages and injunctive relief; the Company denied the
allegations in the Competitor Action and counterclaimed against the competitor,
its President and Samuel Fensterstock; and the parties currently are engaged in
discovery.

      (c) in January 2004, the Company filed a second action in the same Court
against the competitor and Mark McNamara, a former Company employee, seeking
injunctive relief, declaratory relief and monetary damages arising from the
competitor's and McNamara's misappropriation of CRM's proprietary information.

      (d) in March 2004, the Company filed a third action in the same Court
against the competitor and Ryan Kohler, a former Company employee seeking
declaratory relief and compensatory damages for misappropriation of CRM's
proprietary information; and the parties are currently engaged in discovery.

In the Contempt Proceedings, on August 9, 2004, the Court issued its decision,
finding the Defendants to be in contempt of court for their breach of the
Settlement Agreement. The Company was awarded compensatory damages of over
$621,000 against the Defendants, punitive damages of $75,000 against
Fensterstock and punitive damages of $125,000 against the competitor.

In the McNamara action referred to above, the Court supervised an evidentiary
hearing on July 30, 2004 concerning Mr. McNamara's maintenance of his home
computer following termination of his employment with the Company and ordered a
forensic computer expert to analyze said computer.

In July 2004, the Company commenced an action in the same Court against Decision
Strategies LLC ("Decision Strategies"), the court-appointed forensic computer
expert in the Contempt Proceedings, for breach of its litigation services
contract and seeking a declaration of the rights of the parties under the terms
of the contract. The Company is also seeking the return of $10,000 previously
paid to Decision Strategies under the contract, as well as interest, attorneys'
fees and costs. Thereafter, also in July 2004, Decision Strategies commenced an
action in the same Court against the Company and the competitor alleging breach
of contract and related causes of action and seeking damages of $149,257, plus
interest, attorneys' fees and costs. The Company filed an answer denying
plaintiff's claims. The Company believes that Decision Strategies' claims are
without merit and intends to vigorously prosecute its action and defend Decision
Strategies' action.


                                       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 June 30, 2004, the Company had cash, cash equivalents and other liquid assets
of $1.15 million compared to $1.14 million at December 31, 2003. The Company's
working capital deficit at June 30, 2004 was approximately $866,000 compared to
a working capital deficit of approximately $709,000 at December 31, 2003. This
decrement was due primarily to a decrease of $154,000 in accounts receivable
(due to the seasonality of renewal billings). Additionally, the working capital
deficit is mainly derived from the $2.04 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 six months ended June 30, 2004, the Company reported a $13,000 increase
in cash and cash equivalents compared to a $260,000 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 $168,000 for the six months ended June 30, 2004 versus a
cash flow deficit of $110,000 (also excluding payment of Litigation expenses)
for the comparable period in fiscal 2003.

The Company believes that its legal fees will be substantially eliminated or
reduced in the following circumstances:

      (a)   its legal fees will be substantially eliminated if the Defendants do
            not appeal the Company's victory in the Contempt Proceedings;

      (b)   its legal fees will be materially reduced in the Contempt
            Proceedings from the prior level if one or both Defendants appeal;
            additionally, in the event of an appeal, it is expected that the
            appellant(s) will be required to post a bond that, in whole or in
            part, will secure any damages which may be awarded by the court.

The Company further believes that in the Contempt Proceedings the substantial
award of actual and/or 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. There can be no assurance that any of the
above results will be achieved within the anticipated periods, if at all, or
that any damage award will be collectible in whole or in part.

The parties currently are engaged in discovery in connection with the Competitor
Action and the trial date has been adjourned. The Company believes that (a) the
competitor's claims are without merit, (b) in any event, the


                                       9
<PAGE>

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.

While the Company, as noted above, believes that the negative cash flow impact
of its legal fees is likely to be substantially eliminated or at least
materially reduced, the Company nevertheless may be cash flow negative, after
debt service, during the remainder of 2004. This is due to its need to make
certain additional, non-recurring capital expenditures in connection with its
move to a new facility and the Company's decision to co-locate its production
servers at an offsite location, both of which shall occur 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 June 30,
                                                     -----------------------
                                                 2004                       2003
                                                 ----                       ----
                                                     % of Total                 % of Total
                                          Amount       Income        Amount       Income
                                          ------       ------        ------       ------
<S>                                     <C>             <C>        <C>             <C>
Operating revenues                      $ 806,426       100.00%    $ 763,316       100.00%

Operating expenses:
   Data and product costs                 248,253        30.78%      312,229        40.90%
   Selling, general & administrative      549,413        68.13%      655,202        85.84%
   Depreciation and amortization           14,276         1.77%       23,408         3.07%
                                        ---------     --------     ---------     --------
     Total operating expenses             811,942       100.68%      990,839       129.81%
                                        ---------     --------     ---------     --------

Loss from operations                       (5,516)       -0.68%     (227,523)      -29.81%
Other income                                1,521         0.19%        1,406         0.18%
Interest expense                          (18,261)       -2.26%      (20,812)       -2.73%
                                        ---------     --------     ---------     --------

Loss before income taxes                  (22,256)       -2.76%     (246,929)      -32.35%
Benefit (provision) for income taxes          329         0.04%         (390)       -0.05%
                                        ---------     --------     ---------     --------

Net loss                                $ (21,927)       -2.72%    $(247,319)      -32.40%
                                        =========     ========     =========     ========
</TABLE>

Operating revenues increased 6% for the three months ended June 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 20% for the second 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.

Selling, general and administrative expenses decreased 16% for the second
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


                                       10
<PAGE>

with the Litigation and lower salary and related employee benefit costs due to a
decrease in the Company's sales force during the past 12 months.

Depreciation and amortization decreased 39% for the second quarter 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 8% for second 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 12% for the second 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 incurred a net loss of $22,000 and $247,000 for the three months
ended June 30, 2004 and 2003, respectively. Excluding the Litigation expenses of
$96,000 and $141,000 for the three months ended June 30, 2004 and 2003,
respectively, the Company would have reported net income (loss) of $74,000 and
($106,000) for the three months ended June 30, 2004 and 2003, respectively.

<TABLE>
<CAPTION>
                                                        6 Months Ended June 30,
                                                        -----------------------
                                                   2004                          2003
                                                   ----                          ----
                                                        % of Total                    % of Total
                                          Amount          Income        Amount          Income
                                          ------          ------        ------          ------
<S>                                     <C>                <C>        <C>                <C>
Operating revenues                      $ 1,633,624        100.00%    $ 1,453,494        100.00%

Operating expenses:
   Data and product costs                   518,754         31.75%        643,684         44.29%
   Selling, general & administrative      1,147,716         70.26%      1,191,404         81.97%
   Depreciation and amortization             32,260          1.97%         47,273          3.25%
                                        -----------    ----------     -----------    ----------
     Total operating expenses             1,698,730        103.99%      1,882,361        129.51%
                                        -----------    ----------     -----------    ----------

Loss from operations                        (65,106)        -3.99%       (428,867)       -29.51%
Other income                                  3,585          0.22%          4,418          0.30%
Interest expense                            (37,109)        -2.27%        (41,853)        -2.88%
                                        -----------    ----------     -----------    ----------

Loss before income taxes                    (98,630)        -6.04%       (466,302)       -32.08%
Income taxes                                   (226)         0.01%           (700)        -0.05%
                                        -----------    ----------     -----------    ----------

Net loss                                $   (98,856)        -6.05%    $  (467,002)       -32.13%
                                        ===========    ==========     ===========    ==========
</TABLE>

Operating revenues increased 12% for the six months ended June 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 19% for the first six 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 4% for the first six
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


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with the Litigation offset somewhat by higher salary and related employee
benefit costs due to an increase in commission expense.

Depreciation and amortization decreased 32% for the first six 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 decreased 19% for the six months ended June 30, 2004 compared to
the same period last year. This decrease was due to lower interest rates paid on
investments during the 2004 period compared to the same period last year.

Interest expense decreased 11% for the first six 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 $99,000 and $467,000 for the six months ended
June 30, 2004 and 2003, respectively. Excluding the Litigation expenses of
$163,000 and $221,000 for the six months ended June 30, 2004 and 2003,
respectively, the Company would have reported net income (loss) of $64,000 and
($246,000) for the six months ended June 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 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


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<PAGE>

      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 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


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<PAGE>

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.

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.


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<PAGE>

PART II. OTHER INFORMATION

Item 1. Legal Proceedings

As previously reported:

      (a) on November 27, 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, seeking monetary and
punitive damages, legal costs and injunctive relief for violation of the
Settlement Agreement and the July 2001 Court order; and a judicial hearing
concluded on November 21, 2003.

      (b) in February 2003, the competitor commenced the Competitor Action
against the Company, its President and a senior manager, seeking compensatory
damages, exemplary damages and injunctive relief; the Company denied the
allegations in the Competitor Action and counterclaimed against the competitor,
its President and Samuel Fensterstock; and the parties currently are engaged in
discovery.

      (c) in January 2004, the Company filed a second action in the same Court
against the competitor and Mark McNamara, a former Company employee, seeking
injunctive relief, declaratory relief and monetary damages arising from the
competitor's and McNamara's misappropriation of CRM's proprietary information.

      (d) in March 2004, the Company filed a third action in the same Court
against the competitor and Ryan Kohler, a former Company employee seeking
declaratory relief and compensatory damages for misappropriation of CRM's
proprietary information; and the parties are currently engaged in discovery.

In the Contempt Proceedings, on August 9, 2004, the Court issued its decision,
finding the Defendants to be in contempt of court for their breach of the
Settlement Agreement. The Company was awarded compensatory damages of over
$621,000 against the Defendants, punitive damages of $75,000 against
Fensterstock and punitive damages of $125,000 against the competitor.

In the McNamara action referred to above, the Court supervised an evidentiary
hearing on July 30, 2004 concerning Mr. McNamara's maintenance of his home
computer following termination of his employment with the Company and ordered a
forensic computer expert to analyze said computer.

In July 2004, the Company commenced an action in the same Court against Decision
Strategies LLC ("Decision Strategies"), the court-appointed forensic computer
expert in the Contempt Proceedings, for breach of its litigation services
contract and seeking a declaration of the rights of the parties under the terms
of the contract. The Company is also seeking the return of $10,000 previously
paid to Decision Strategies under the contract, as well as interest, attorneys'
fees and costs. Thereafter, also in July 2004, Decision Strategies commenced an
action in the same Court against the Company and the competitor alleging breach
of contract and related causes of action and seeking damages of $149,257, plus
interest, attorneys' fees and costs. The Company filed an answer denying
plaintiff's claims. The Company believes that Decision Strategies' claims are
without merit and intends to vigorously prosecute its action and defend Decision
Strategies' action.


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<PAGE>

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

      On May 17, 2004, we furnished a Current Report on Form 8-K pursuant to
      "Item 12. Results of Operations and Financial Condition" attaching our
      press release dated May 17, 2004 announcing our pro forma operating
      results for the first quarter of 2004.


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<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 16, 2004                         By: /s/ Lawrence Fensterstock
                                                  ------------------------------
                                                      Lawrence Fensterstock
                                                      Chief Financial Officer


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