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


                                   FORM 10-QSB


[x]  QUARTERLY  REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES  EXCHANGE ACT
     OF 1934

               For the quarterly period ended: September 30, 2001

[_]  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)


                         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 -- 5,344,129  shares  outstanding  as of October 31,
2001.


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 - September 30, 2001 (Unaudited)
    and December 31, 2000 (Audited)............................................3

    Consolidated Statements of Operations for the Three Months
    Ended September 30, 2001 and 2000 (Unaudited)..............................4

    Consolidated Statements of Operations for the Nine Months
    Ended September 30, 2001 and 2000 (Unaudited)..............................5

    Consolidated Statements of Cash Flows for the Nine Months
    Ended September 30, 2001 and 2000 (Unaudited)..............................6

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

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


PART II. OTHER INFORMATION

  Item 1. Legal Proceedings...................................................14

  Item 6. Exhibits and Reports on Form 8-K....................................14


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


                                      -2-
<PAGE>


PART I. FINANCIAL INFORMATION

Item 1. Financial Statements


                  CREDITRISKMONITOR.COM, INC. AND SUBSIDIARIES
                           CONSOLIDATED BALANCE SHEETS
                    SEPTEMBER 30, 2001 AND DECEMBER 31, 2000


<TABLE>
<CAPTION>
                                                          Sept. 30,          Dec. 31,
                                                            2001               2000
                                                        ------------       ------------
                                                         (Unaudited)         (Audited)
<S>                                                     <C>                <C>
                                     ASSETS
Current assets:
   Cash and cash equivalents                            $  1,285,800       $  1,215,197
   Accounts receivable, net of allowance                     717,676            662,304
   Other current assets                                      226,990             28,358
                                                        ------------       ------------
      Total current assets                                 2,230,466          1,905,859

Property and equipment, net                                  258,384            293,357
Goodwill, net                                              1,983,062          2,068,868
Prepaid and other assets                                      23,426             73,638
                                                        ------------       ------------
TOTAL ASSETS                                            $  4,495,338       $  4,341,722
                                                        ============       ============

                      LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
   Deferred revenue                                     $  2,246,538       $  1,660,431
   Accounts payable                                          128,143             45,856
   Accrued expenses                                           95,603             85,490
   Current portion of long-term debt                         175,834            274,338
   Current portion of capitalized lease obligation             5,709              5,258
                                                        ------------       ------------
      Total current liabilities                            2,651,827          2,071,373
                                                        ------------       ------------
Long-term debt, net of current portion:
   Promissory notes                                          839,396            758,364
   Capitalized lease obligation                               14,128             18,468
                                                        ------------       ------------
                                                             853,524            776,832
Deferred rent payable                                          8,015              5,850
Deferred compensation                                        207,500            186,667
                                                        ------------       ------------
      Total liabilities                                    3,720,866          3,040,722
                                                        ------------       ------------
Stockholders' equity:
   Common stock                                               53,441             53,441
   Additional paid-in capital                             27,201,912         27,201,912
   Accumulated deficit                                   (26,480,881)       (25,954,353)
                                                        ------------       ------------
      Total stockholders' equity                             774,472          1,301,000
                                                        ------------       ------------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY              $  4,495,338       $  4,341,722
                                                        ============       ============
</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 SEPTEMBER 30, 2001 AND 2000
                                   (Unaudited)


<TABLE>
<CAPTION>
                                                               2001             2000
                                                           -----------       -----------
<S>                                                        <C>               <C>
Operating revenues                                         $   732,869       $   560,298

Operating expenses:
   Data and product costs                                      320,615           198,249
   Selling, general and administrative expenses                451,642           476,533
   Depreciation and amortization                                56,293            54,301
                                                           -----------       -----------
      Total operating expenses                                 828,550           729,083
                                                           -----------       -----------

Loss from operations                                           (95,681)         (168,785)
Other income                                                     9,071            16,986
Interest expense                                               (26,404)          (24,554)
Write-off of investment                                        (44,000)               --
                                                           -----------       -----------
Loss before income taxes                                      (157,014)         (176,353)
Provision for state and local income taxes                          --               366
                                                           -----------       -----------
Net loss                                                   $  (157,014)      $  (176,719)
                                                           ===========       ===========

Net loss per share of common stock:
   Basic and diluted                                       $     (0.03)      $     (0.03)
                                                           ===========       ===========
Weighted average number of common shares outstanding:
   Basic and diluted                                         5,344,129         5,341,129
                                                           ===========       ===========
</TABLE>


     See accompanying condensed notes to consolidated financial statements.


                                      -4-
<PAGE>


                  CREDITRISKMONITOR.COM, INC. AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF OPERATIONS
              FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2001 AND 2000
                                   (Unaudited)


<TABLE>
<CAPTION>
                                                               2001              2000
                                                           -----------       -----------
<S>                                                        <C>               <C>
Operating revenues                                         $ 2,212,727       $ 1,480,176

Operating expenses:
     Data and product costs                                    897,982           574,165
     Selling, general and administrative expenses            1,585,389         1,407,578
     Depreciation and amortization                             166,724           159,511
                                                           -----------       -----------
         Total operating expenses                            2,650,095         2,141,254
                                                           -----------       -----------

Loss from operations                                          (437,368)         (661,078)
Other income                                                    36,017            56,887
Interest expense                                               (78,116)          (71,795)
Write-off of investment                                        (44,000)               --
                                                           -----------       -----------
Loss before income taxes                                      (523,467)         (675,986)
Provision for state and local income taxes                       3,061             4,036
                                                           -----------       -----------
Net loss                                                   $  (526,528)      $  (680,022)
                                                           ===========       ===========

Net loss per share of common stock:
     Basic and diluted                                     $     (0.10)      $     (0.13)
                                                           ===========       ===========
Weighted average number of common shares outstanding:
     Basic and diluted                                       5,344,129         5,341,129
                                                           ===========       ===========
</TABLE>


     See accompanying condensed notes to consolidated financial statements.


                                      -5-
<PAGE>


                  CREDITRISKMONITOR.COM, INC. AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
              FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2001 AND 2000
                                   (Unaudited)


<TABLE>
<CAPTION>
                                                              2001              2000
                                                          -----------       -----------
<S>                                                       <C>               <C>
Cash flows from operating activities:
     Net loss                                             $  (526,528)      $  (680,022)
     Adjustments to reconcile net loss to net
         cash provided by operating activities:
              Goodwill amortization                            85,806            85,806
              Depreciation                                     80,918            73,705
              Amortization of debt discount                    82,762            62,882
              Write-off of investment                          44,000                --
              Deferred compensation                            20,833            71,667
              Deferred rent                                     2,165             4,674
              Deferred interest expense                            --             6,958
     Changes in operating assets and liabilities:
         Accounts receivable, net                             (55,372)          122,833
         Other current assets                                (198,632)             (658)
         Prepaid and other assets                               6,212            (7,245)
         Deferred revenue                                     586,107           196,262
         Accounts payable                                      82,287            20,814
         Accrued expenses                                      10,113            11,571
                                                          -----------       -----------
Net cash provided by (used in) operating activities           220,671           (30,753)
                                                          -----------       -----------
Cash flows from investing activities:
     Purchase of fixed assets                                 (45,945)          (72,940)
                                                          -----------       -----------
Net cash used in investing activities                         (45,945)          (72,940)
                                                          -----------       -----------
Cash flows from financing activities:
     Payments on promissory notes                            (100,234)               --
     Payments on capitalized lease obligation, net             (3,889)              893
                                                          -----------       -----------
Net cash (used in) provided by financing activities          (104,123)              893
                                                          -----------       -----------
Net increase (decrease) in cash and cash equivalents           70,603          (102,800)
Cash and cash equivalents at beginning of
     period                                                 1,215,197         1,421,885
                                                          -----------       -----------
Cash and cash equivalents at end of period                $ 1,285,800       $ 1,319,085
                                                          ===========       ===========
</TABLE>


     See accompanying condensed notes to consolidated financial statements.


                                      -6-
<PAGE>


                  CREDITRISKMONITOR.COM, INC. AND SUBSIDIARIES
              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 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, 2000.

In the opinion of the Company, the unaudited  consolidated  financial statements
reflect all adjustments  (consisting of normal  recurring  accruals)  considered
necessary to present fairly the Company's financial position as of September 30,
2001 and the  results of its  operations  and its cash flows for the  nine-month
periods ended September 30, 2001 and 2000.

Results of operations  for the nine-month  periods ended  September 30, 2001 and
2000 are not necessarily indicative of the results of a full year.

Certain  prior year  amounts have been  reclassified  to conform with the fiscal
2001 presentation.

(2)  Graydon UK Ltd.

In July 2000,  the Company  entered into a Letter of Intent with Graydon UK Ltd.
("Graydon") to be a re-distributor of Graydon's  international credit reports in
the United States. As part of the transaction,  CRM assumed the servicing of the
contracts of a Graydon-related  company, Graydon America, Inc., for which CRM is
receiving a monthly management fee.

(3)  Note Consolidation Agreement

In July 2001,  the Company  entered  into a Note  Consolidation  Agreement  with
Market Guide Inc.  ("MGI"),  which  consolidated  the two notes issued by CRM in
January 1999, as part of the purchase of the assets of MGI's CreditRisk  Monitor
credit  information  service,  into a new  secured  note  with a face  value  of
$1,093,653.75.  The new note bears  interest  at the rate of 8.5% per annum from
July 1, 2001 and is payable in 60 equal  monthly  installments  of principal and
interest of $22,437.98  each,  commencing  July 31, 2001. In accordance with the
terms of  Emerging  Issues  Task  Force  Issue  ("EITF")  No.  96-19,  "Debtor's
Accounting for a Modification or Exchange of Debt Instruments", this transaction
is not considered to result in a substantially  different debt instrument and as
such no gain  or loss  was  recognized  on this  transaction.  Accordingly,  the
Company was  required to discount  the new note to yield an  effective  interest
rate of 9.98%.


                                      -7-
<PAGE>


(4)  Write-off of Investment

During 2000, the Company invested $44,000 in a limited  liability  company whose
other  shareholders  were  affiliates  of the  National  Association  of  Credit
Management  ("NACM").  Due to operating losses experienced by this company,  the
shareholders  voted to dissolve and  liquidate  the company as of September  30,
2001.  CRM does not  anticipate  receiving any proceeds from the  dissolution of
this company nor is it obligated to pay any of the liabilities of this entity.


                                      -8-
<PAGE>


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

RESULTS OF OPERATIONS

     In January  1999,  the  Company  acquired  the  assets of MGI's  CreditRisk
Monitor credit information service and commenced operations. This business began
selling  its  product  in  April  1997  and is  still  in its  early  stages  of
development.

<TABLE>
<CAPTION>
                                                     3 Months Ended September 30,
                                          ---------------------------------------------------
                                                    2001                        2000
                                          ----------------------       ----------------------
                                                        % of Total                   % of Total
                                            Amount        Income         Amount        Income
                                          ---------       ------       ---------       ------
<S>                                       <C>             <C>          <C>             <C>
Operating revenues                        $ 732,869       100.00%      $ 560,298       100.00%

Operating expenses:
   Data and product costs                   320,615        43.75%        198,249        35.38%
   Selling, general & administrative        451,642        61.63%        476,533        85.05%
   Depreciation and amortization             56,293         7.68%         54,301         9.69%
                                          ---------       ------       ---------       ------
     Total operating expenses               828,550       113.06%        729,083       130.12%
                                          ---------       ------       ---------       ------

Loss from operations                        (95,681)      -13.06%       (168,785)      -30.12%
Other income                                  9,071         1.24%         16,986         3.03%
Interest expense                            (26,404)       -3.60%        (24,554)       -4.38%
Write-off of investment                     (44,000)       -6.00%           --           0.00%
                                          ---------       ------       ---------       ------
Loss before income taxes                   (157,014)      -21.42%       (176,353)      -31.47%
Income taxes                                     --         0.00%            366        -0.07%
                                          ---------       ------       ---------       ------
Net loss                                  $(157,014)      -21.42%      $(176,719)      -31.54%
                                          =========       ======       =========       ======
</TABLE>

     Operating  revenues  increased 31% for the three months ended September 30,
2001 compared to the same period of fiscal 2000. This increase was primarily due
to an increase in the number of  subscribers to the Company's  credit  reporting
services.

     Data and product costs increased 62% for the third quarter of 2001 compared
to the same  period of fiscal  2000.  This  increase  was  primarily  due to the
increased  cost of  acquiring  the data needed for the  Company's  products  and
higher  salary and  related  employee  benefits  resulting  from an  increase in
headcount as the Company added personnel to deliver its expanded product line.

     Selling,  general and  administrative  expenses  decreased 5% for the third
quarter of fiscal 2001 compared to the same period of fiscal 2000. This decrease
was  primarily  due to a decrease in  marketing  expenses  and lower  salary and
related  employee  benefits,  as the result of a change in the sales  commission
plan,  partially offset by the higher legal fees incurred in connection with the
Company's legal proceeding (see Part II, Item 1).

     Depreciation and amortization  increased 4% for the third quarter of fiscal
2001 compared to the same period of fiscal 2000. This increase was primarily due
to higher depreciation  expense related to the acquisition of computer equipment
and other fixed assets during the last 12 months.

     Other  income  decreased  47% for three  months  ended  September  30, 2001
compared  to the same  period last year.  This  decrease  was due to the Company
having less funds invested in interest bearing accounts as well as lower


                                      -9-
<PAGE>


interest rates paid on these investments during the 2001 quarter compared to the
same period last year.

     Interest expense increased 8% for the third quarter of fiscal 2001 compared
to the same period of fiscal 2000. This increase was due to the higher effective
interest  rate on the  Company's  indebtedness  to MGI as the result of the Note
Consolidation Agreement entered into as of July 1, 2001.

     The Company  incurred a net loss of  $157,014  and  $176,719  for the three
months ended September 30, 2001 and 2000, respectively.

<TABLE>
<CAPTION>
                                                        9 Months Ended September 30,
                                          --------------------------------------------------------
                                                     2001                           2000
                                          -------------------------      -------------------------
                                                          % of Total                     % of Total
                                            Amount          Income         Amount          Income
                                          -----------       -------      -----------       -------
<S>                                       <C>                <C>         <C>                <C>
Operating revenues                        $ 2,212,727        100.00%     $ 1,480,176        100.00%

Operating expenses:
   Data and product costs                     897,982         40.58%         574,165         38.79%
   Selling, general & administrative        1,585,389         71.65%       1,407,578         95.10%
   Depreciation and amortization              166,724          7.53%         159,511         10.78%
                                          -----------       -------      -----------       -------
     Total operating expenses               2,650,095        119.77%       2,141,254        144.66%
                                          -----------       -------      -----------       -------

Loss from operations                         (437,368)       -19.77%        (661,078)       -44.66%
Other income                                   36,017          1.63%          56,887          3.84%
Interest expense                              (78,116)        -3.53%         (71,795)        -4.85%
Write-off of investment                       (44,000)        -1.99%              --          0.00%
                                          -----------       -------      -----------       -------
Loss before income taxes                     (523,467)       -23.66%        (675,986)       -45.67%
Income taxes                                    3,061         -0.14%           4,036         -0.27%
                                          -----------       -------      -----------       -------
Net loss                                  $  (526,528)       -23.80%     $  (680,022)       -45.94%
                                          ===========       =======      ===========       =======
</TABLE>

     Operating  revenues  increased 49% for the nine months ended  September 30,
2001 compared to the same period of fiscal 2000. This increase was primarily due
to an increase in the number of  subscribers to the Company's  credit  reporting
services.

     Data and  product  costs  increased  56% for the first nine  months of 2001
compared to the same period of fiscal 2000.  This  increase was primarily due to
the increased  cost of acquiring the data needed for the Company's  products and
higher  salary and  related  employee  benefits  resulting  from an  increase in
headcount as the Company added personnel to deliver its expanded product line.

     Selling,  general and  administrative  expenses increased 13% for the first
nine months of fiscal 2001  compared  to the same  period of fiscal  2000.  This
increase was  primarily due to an increase in headcount as the Company has added
salespeople and customer support  personnel over the past 12 months,  as well as
legal fees incurred in connection with the Company's legal  proceeding (see Part
II, Item 1).

     Depreciation  and  amortization  increased  5% for the first nine months of
fiscal 2001  compared  to the same  period of fiscal  2000.  This  increase  was
primarily  due to higher  depreciation  expense  related to the  acquisition  of
computer equipment and other fixed assets during the last 12 months.

     Other  income  decreased  37% for nine  months  ended  September  30,  2001
compared  to the same  period last year.  This  decrease  was due to the Company
having less funds invested in interest bearing accounts as well as lower


                                      -10-
<PAGE>


interest rates paid on these investments  during the 2001 period compared to the
same period last year.

     Interest  expense  increased  9% for the first nine  months of fiscal  2001
compared to the same period of fiscal 2000.  This increase was due to the higher
effective  interest rate on the Company's  indebtedness  to MGI as the result of
the Note Consolidation Agreement entered into as of July 1, 2001.

     The  Company  incurred a net loss of  $526,528  and  $680,022  for the nine
months ended September 30, 2001 and 2000, respectively.

     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. 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  maintain,  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  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) higher cost of acquiring  third-party  data, (x) technical
difficulties,  system downtime or Internet brownouts, (xi) the amount and timing
of  operating  costs and  capital  expenditures  relating  to  expansion  of the
Company's business,  operations and  infrastructure,  and (xii) general economic
conditions  and  economic  conditions  specific to the  Internet  and the credit
information industry.


                                      -11-
<PAGE>


LIQUIDITY AND CAPITAL RESOURCES

     At September 30, 2001,  the Company had cash,  cash  equivalents  and other
liquid assets of $1,286,000  compared to $1,215,000 of liquid assets at December
31, 2000.  The  Company's  working  capital  deficit at  September  30, 2001 was
$421,000 compared to a working capital deficit of $166,000 at December 31, 2000.
This  decrement  was due to a $92,000  increase in accounts  payable and accrued
expenses  and an increase of $586,000 in deferred  revenue,  net of increases in
cash and cash equivalents, accounts receivable and deferred billings aggregating
$325,000 and a $99,000  decrease in the current portion of long-term debt as the
result of the Note  Consolidation  Agreement.  The  Company has no bank lines of
credit or other currently available credit sources.

     For the nine months ended  September 30, 2001, the Company  reported that a
$71,000 increase in cash compared to a $103,000 use of funds for the same period
in the prior  fiscal  year.  The  Company  expects to reach cash flow  breakeven
status,  after  debt  service,  during  2001.  Should  this  expectation  not be
realized,  the Company  believes  that it has  sufficient  resources to meet its
working capital and capital  expenditure needs,  including debt service,  for at
least the next 13 months.

     In July 2001, the Company entered into a Note Consolidation  Agreement with
MGI, which  consolidated the two notes issued by CRM in January 1999, as part of
the  purchase  of the  assets of MGI's  CreditRisk  Monitor  credit  information
service,  into a new secured  note with a face value of  $1,093,653.75.  The new
note  bears  interest  at the rate of 8.5% per  annum  from  July 1, 2001 and is
payable in 60 equal monthly installments of principal and interest of $22,437.98
each,  commencing  July 31,  2001.  The monthly debt service on the two previous
notes was $49,606.30.  In accordance with the terms of EITF No. 96-19, "Debtor's
Accounting for a Modification or Exchange of Debt Instruments", this transaction
was not considered to result in a substantially different debt instrument and as
such no gain  or loss  was  recognized  on this  transaction.  Accordingly,  the
Company is required to discount the new note to yield an effective interest rate
of 9.98%.

RECENTLY ISSUED ACCOUNTING STANDARDS

     In July 2001, the Financial  Accounting  Standards  Board  ("FASB")  issued
Statements  of  Financial  Accounting  Standards  ("SFAS")  No.  141,  "Business
Combinations",  and No. 142, "Goodwill and Other Intangible Assets". Under these
new  standards  the  FASB   eliminated   accounting  for  certain   mergers  and
acquisitions as poolings of interests,  eliminated  amortization of goodwill and
indefinite life intangible  assets,  and established new impairment  measurement
procedures for goodwill.  For calendar-year  reporting companies,  the standards
become  effective  for all  acquisitions  completed  on or after June 30,  2001.
Changes in financial  statement  treatment  for goodwill and  intangible  assets
arising from mergers and  acquisitions  completed  prior to June 30, 2001 become
effective  January 1, 2002.  The Company is currently  assessing the impact that
implementing  these  standards  will  have  on its  results  of  operations  and
financial position.

     In  August  2001,  the  FASB  issued  SFAS  No.  144,  "Accounting  for the
Impairment or Disposal of Long-Lived Assets". This statement addresses financial
accounting  and reporting for the  impairment or disposal of long-lived  assets.
SFAS No.  144  will be  effective  for  financial  statements  of  fiscal  years
beginning after December 15, 2001. We expect to adopt this


                                      -12-
<PAGE>


statement for our fiscal year ending January 1, 2002, and do not anticipate that
it will have a material impact on our consolidated financial results.

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.


                                      -13-
<PAGE>


PART II. OTHER INFORMATION

Item 1. Legal Proceedings

     As previously reported,  the settlement which was reached by the parties in
the action brought by the Company in April 2001 against Samuel  Fensterstock and
others was approved by the Court in July 2001.

Item 6. Exhibits and Reports on Form 8-K

(a)  Exhibits

     None.

(b)  Reports on Form 8-K

     None.


                                      -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: November 14, 2001                      By:  /s/ Lawrence Fensterstock
                                                  -----------------------------
                                                  Lawrence Fensterstock
                                                  Chief Financial Officer


                                      -15-