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: March 31, 2005

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

            For the transition period from ___________ to ___________

                          Commission file number 1-8601

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

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

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

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

Check  whether  the issuer  (1) has filed all  reports  required  to be filed by
Section  13 or 15(d) of the  Securities  and  Exchange  Act of 1934  during  the
preceding 12 months (or for such shorter  period that the issuer was required to
file such reports), and (2) has been subject to such filing requirements for the
past 90 days. Yes |x| No |_|

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

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

                                 Yes |_| No |_|

                      APPLICABLE ONLY TO CORPORATE ISSUERS

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

Common stock $.01 par value -- 7,679,462 shares outstanding as of April 29,
2005.

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 - March 31, 2005 (Unaudited)
    and December 31, 2004......................................................2

    Consolidated Statements of Operations for the Three Months
    Ended March 31, 2005 and 2004 (Unaudited)..................................3

    Consolidated Statements of Cash Flows for the Three Months
    Ended March 31, 2005 and 2004 (Unaudited)..................................4

    Condensed Notes to Consolidated Financial Statements.......................5

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

  Item 3. Controls and Procedures.............................................12

PART II. OTHER INFORMATION

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

  Item 2. Changes in Securities and Small Business Issuer Purchases
    of Equity Securities......................................................15

  Item 6. Exhibits............................................................15

SIGNATURES....................................................................16

EXHIBITS

  10.1    Stipulation of Settlement and Order dated as of
          April 27, 2005......................................................17

  31.1    Certification of Chief Executive Officer Pursuant to
          Section 302 of the Sarbanes-Oxley Act of 2002.......................31

  31.2    Certification of Chief Financial Officer Pursuant to
          Section 302 of the Sarbanes-Oxley Act of 2002.......................33

  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...............................35

  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...............................36


                                       1
<PAGE>

PART I. FINANCIAL INFORMATION

Item 1. Financial Statements

                   CREDITRISKMONITOR.COM, INC. AND SUBSIDIARY
                           CONSOLIDATED BALANCE SHEETS
                      MARCH 31, 2005 AND DECEMBER 31, 2004

<TABLE>
<CAPTION>
                                                            March 31,        Dec. 31,
                                                              2005             2004
                                                              ----             ----
                                                          (Unaudited)
<S>                                                       <C>              <C>
ASSETS
Current assets:
   Cash and cash equivalents                              $    924,126     $    877,025
   Accounts receivable, net of allowance                       372,065          637,221
   Other current assets                                         93,905          172,019
                                                          ------------     ------------

      Total current assets                                   1,390,096        1,686,265

Property and equipment, net                                    160,633          162,085
Goodwill, net                                                1,954,460        1,954,460
Prepaid and other assets                                        32,994           20,042
                                                          ------------     ------------

      Total assets                                        $  3,538,183     $  3,822,852
                                                          ============     ============

LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
   Deferred revenue                                       $  2,082,572     $  2,221,233
   Accounts payable                                            140,677          170,949
   Accrued expenses                                            192,096          218,990
   Current portion of long-term debt                           102,683          100,084
   Current portion of capitalized lease obligations             25,820           26,518
                                                          ------------     ------------

      Total current liabilities                              2,543,848        2,737,774
                                                          ------------     ------------

Long-term debt, net of current portion:
   Promissory note                                             494,036          520,703
   Capitalized lease obligations                                38,553           44,904
                                                          ------------     ------------
                                                               532,589          565,607
Deferred rent payable                                            3,799            2,375
Deferred compensation                                           88,890           88,890
                                                          ------------     ------------

      Total liabilities                                      3,169,126        3,394,646
                                                          ------------     ------------

Stockholders' equity:
   Preferred stock, $.01 par value; authorized
      5,000,000 shares; none issued                                 --               --
   Common stock, $.01 par value; authorized 25,000,000
      shares; issued and outstanding 7,679,462 shares           76,794           76,794
   Additional paid-in capital                               28,122,383       28,122,383
   Accumulated deficit                                     (27,830,120)     (27,770,971)
                                                          ------------     ------------

      Total stockholders' equity                               369,057          428,206
                                                          ------------     ------------

      Total liabilities and stockholders' equity          $  3,538,183     $  3,822,852
                                                          ============     ============
</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 MARCH 31, 2005 AND 2004
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                             2005            2004
                                                             ----            ----
<S>                                                      <C>             <C>
Operating revenues                                       $   895,254     $   827,197
                                                         -----------     -----------

Operating expenses:
   Data and product costs                                    239,376         270,500
   Selling, general and administrative expenses              682,219         598,148
   Depreciation and amortization                              16,542          17,984
                                                         -----------     -----------

      Total operating expenses                               938,137         886,632
                                                         -----------     -----------

Loss from operations                                         (42,883)        (59,435)
Other income                                                   2,743           2,064
Interest expense                                             (17,834)        (18,848)
                                                         -----------     -----------

Loss before income taxes                                     (57,974)        (76,219)
Provision for state and local income taxes                    (1,175)           (709)
                                                         -----------     -----------

Net loss                                                 $   (59,149)    $   (76,928)
                                                         ===========     ===========

Net loss per share of common stock:

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

Weighted average number of common shares outstanding:

   Basic and diluted                                       7,679,462       7,407,462
                                                         ===========     ===========
</TABLE>

     See accompanying condensed notes to consolidated financial statements.


                                       3
<PAGE>

                   CREDITRISKMONITOR.COM, INC. AND SUBSIDIARY
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
               FOR THE THREE MONTHS ENDED MARCH 31, 2005 AND 2004
                                   (Unaudited)

                                                          2005           2004
                                                          ----           ----

Cash flows from operating activities:
     Net loss                                        $   (59,149)   $   (76,928)
     Adjustments to reconcile net loss to net
         cash provided by operating activities:
              Depreciation                                16,542         17,984
              Deferred rent                                1,424         (1,444)
     Changes in operating assets and liabilities:
         Accounts receivable                             265,156        301,837
         Other current assets                             78,114         30,423
         Prepaid and other assets                        (12,952)        (9,158)
         Deferred revenue                               (138,661)      (195,023)
         Accounts payable                                (30,272)       (31,747)
         Accrued expenses                                (26,894)        17,800
                                                     -----------    -----------

Net cash provided by operating activities                 93,308         53,744
                                                     -----------    -----------

Cash flows from investing activities:
     Purchase of property and equipment                  (15,090)       (11,379)
                                                     -----------    -----------

Net cash used in investing activities                    (15,090)       (11,379)
                                                     -----------    -----------

Cash flows from financing activities:
     Payments on promissory note                         (24,068)       (21,721)
     Payments on capital lease obligations                (7,049)        (3,270)
                                                     -----------    -----------

Net cash used in financing activities                    (31,117)       (24,991)
                                                     -----------    -----------

Net increase in cash and cash equivalents                 47,101         17,374
Cash and cash equivalents at beginning of
     period                                              877,025      1,138,447
                                                     -----------    -----------

Cash and cash equivalents at end of period           $   924,126    $ 1,155,821
                                                     ===========    ===========

     See accompanying condensed notes to consolidated financial statements.


                                       4
<PAGE>

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

(1) Basis of Presentation

The  consolidated  financial  statements  included  herein have been prepared by
CreditRiskMonitor.com, Inc. (the "Company" or "CRM"), without audit, pursuant to
the rules and  regulations of the Securities  and Exchange  Commission.  Certain
information and footnote disclosures normally included in consolidated financial
statements prepared in accordance with accounting  principles generally accepted
in the United States have been  condensed or omitted  pursuant to such rules and
regulations,  although  the Company  believes  that the  disclosures  herein are
adequate to make the  information  presented  not  misleading.  These  financial
statements  should be read in conjunction with the financial  statements and the
notes thereto in the  Company's  annual report on Form 10-KSB for the year ended
December 31, 2004.

In the opinion of the Company, the unaudited  consolidated  financial statements
reflect all adjustments  (consisting of normal recurring adjustments) considered
necessary to present  fairly the  Company's  financial  position as of March 31,
2005 and the results of its  operations  and its cash flows for the  three-month
periods ended March 31, 2005 and 2004.

Results of operations for the three-month  periods ended March 31, 2005 and 2004
are not necessarily indicative of the results of a full year.

(2) Stock-Based Compensation

The Company accounts for its stock-based  employee  compensation  plan using the
intrinsic  value  method  in  accordance  with  the  provisions  of APB No.  25,
"Accounting  for Stock  Issued to  Employees"  and related  Interpretations.  No
stock-based  employee  compensation cost for employee stock options 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.

In accordance with SFAS No. 123,  "Accounting for Stock-Based  Compensation," as
amended by SFAS No. 148,  "Accounting for  Stock-Based  Compensation--Transition
and  Disclosure,"  the following  table  presents the effect on net loss and net
loss  per  share  had  compensation  cost  for the  Company's  stock  plan  been
determined using a fair value based method and amortized over the vesting period
consistent with SFAS No. 123 for the three months ended March 31:


                                       5
<PAGE>

                                                           2005          2004
                                                           ----          ----

Net loss
   As reported                                          $ (59,149)    $ (76,928)
   Less: Total stock-based employee compensation
      expense determined under fair value based
      method for all awards, net of related
      tax benefits or effects                                 245        (4,508)
                                                        ---------     ---------

   Pro forma                                            $ (58,904)    $ (81,436)
                                                        =========     =========

Net loss per share - basic and diluted
   As reported                                          $   (0.01)    $   (0.01)
   Pro forma                                            $   (0.01)    $   (0.01)

The above  stock-based  employee  compensation  costs  determined under the fair
value based method were  calculated  using the  Black-Scholes  option  valuation
model.  The  Black-Scholes  option  valuation  model  was  developed  for use in
estimating the fair value of traded options, which have no vesting restrictions,
are fully transferable, and do not include a discount for large block trades. In
addition,  option  valuation  models  require  the  input of  highly  subjective
assumptions including the expected stock price volatility,  expected life of the
option and other  estimates.  Because the Company's  employee stock options have
characteristics  significantly  different  from  those of  traded  options,  and
because changes in the subjective  input  assumptions can materially  affect the
fair  value  estimate,  in  management's  opinion,  the  existing  models do not
necessarily  provide a reliable single measure of the fair value of its employee
stock options.

(3) Recently Issued Accounting Standards

In  December  2004,  the FASB issued SFAS No.  153,  "Exchanges  of  Nonmonetary
Assets--an  amendment of APB Opinion No. 29," which addresses the measurement of
exchanges of  nonmonetary  assets and  eliminates  the exception from fair value
measurement for nonmonetary  exchanges of similar productive assets and replaces
it with an exception for exchanges that do not have commercial  substance.  SFAS
No. 153 is effective for nonmonetary asset exchanges occurring in fiscal periods
beginning after June 15, 2005, with earlier application permitted.  The adoption
of SFAS No.  153  will  have no  impact  on our  results  of  operations  or our
financial position.

In  December  2004,  the FASB  issued  SFAS  No.  123R,  "Share-Based  Payment,"
replacing  SFAS No.  123 and  superseding  APB  Opinion  No. 25.  SFAS No.  123R
requires  public  companies  to recognize  compensation  expense for the cost of
stock options and all other awards of equity instruments. This compensation cost
will be  measured  as the fair  value of the award on the grant  date  estimated
using an option-pricing  model. The Company is evaluating the various transition
provisions  under SFAS No. 123R. For public entities that file as small business
issuers, this Statement is effective as of the beginning of the first interim or
annual reporting period that begins after December 15, 2005.

(4) Legal Proceedings

On April 27,  2005,  the Company  executed an  agreement  (the  "Stipulation  of
Settlement")  which  settled all of the lawsuits  between it and its  competitor
discussed in the succeeding paragraphs below, and its competitor  simultaneously
paid the


                                       6
<PAGE>

Company  $1.1  million.   This  payment  will  be  reflected  in  the  Company's
consolidated  financial  statements  for its quarter  ending June 30,  2005.  In
addition,  the  competitor  agreed in the  Stipulation  of  Settlement to assume
certain  potential  liabilities  against  the  Company and defend the Company in
connection with the Decision Strategies litigation also discussed below.

As previously  reported:  (a) on April 20, 2001,  the Company filed an action in
the  Supreme  Court of the  State of New York,  Nassau  County,  against  Samuel
Fensterstock  and  a  competitor  (collectively,   the  "Defendants"),   seeking
injunctive relief,  declaratory relief and monetary damages; (b) thereafter, the
parties entered into a Settlement  Agreement that was so ordered by the Court in
July 2001  pursuant to which the  Defendants  were  restricted  from engaging in
certain  activities;  (c) on November 27, 2001, the Company  commenced an action
against the Defendants (the "Contempt  Proceedings") in the Supreme Court of the
State of New  York,  Nassau  County;  (d) on  August 6,  2004,  in the  Contempt
Proceedings,  the Court issued a Decision  finding that Defendants  violated the
Settlement  Agreement  and were in contempt of the July 2001 Order,  and awarded
compensatory and punitive damages against the Defendants  aggregating  $821,044,
plus attorney fees and legal costs in an amount to be determined;  (e) on August
24, 2004,  the Court  entered a Judgment  providing for the  enforcement  of its
award and  assigned  a Referee  to  conduct a hearing  concerning  the amount of
attorneys'  fees and costs to be  awarded;  (f) on August 30,  2004,  Defendants
filed a Notice of Appeal and posted a $900,000  bond to secure the  compensatory
and punitive  damages  awarded in the Judgment;  (g) on September 10, 2004,  the
competitor and Samuel  Fensterstock  served separate Motions to Reargue;  (h) in
January 2005, the Court rejected the arguments  contained in Defendants' Motions
to  Reargue  and the  Defendants  each filed  Notices  of Appeal of the  Court's
rejection  of the  arguments  contained  in the Motions to  Reargue;  and (i) in
February 2005, the Defendants  presented separate  applications to the Appellate
Division   requesting  that  the  Appellate  Division  dispense  with  requiring
Defendants  to file a complete  copy of the trial  transcript  from the Contempt
Proceeding and the Company opposed Defendants' applications.

On March 25, 2005 the Appellate  Division denied  Defendants'  separate  motions
requesting  the  Appellate  Division  to  dispense  with  the  requirement  that
Defendants  file a complete  copy of the trial  transcript  with  respect to the
appeal.  On April 7,  2005 the  Court  entered  a  Judgment  providing  that the
competitor would pay the Company at least $620,000 in attorney fees and allowing
the competitor to post a bond.

As previously reported: (a) in February 2003, the competitor commenced an action
(the "Competitor  Action") in the same Court, against the Company, its President
and a senior  manager,  seeking  compensatory  damages,  exemplary  damages  and
injunctive  relief; and (b) the Company denied the allegations in the Competitor
Action and  counterclaimed  against the  competitor,  its  President  and Samuel
Fensterstock.

As previously  reported:  (a) in January 2004, the Company filed a second action
in the same  Court  by  order to show  cause  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;  and (b) by Order dated April
2, 2004 the Court denied the Company's request for immediate injunctive relief.

As previously  reported:  in March 2004, the Company filed a third action in the
same Court against the competitor and Ryan Kohler, a former Company


                                       7
<PAGE>

employee,  seeking declaratory relief and compensatory  damages arising from the
competitor's and Kohler's misappropriation of CRM's proprietary information.

As previously  reported:  (a) in July 2004,  the Company  commenced an action in
Nassau County  against  Decision  Strategies LLC  ("Decision  Strategies"),  the
court-appointed  forensic  computer expert in the Enforcement  Proceedings,  for
breach of its services  contract and seeking a declaration  of the rights of the
parties  under  the  terms  of the  contract;  (b) also in July  2004,  Decision
Strategies  commenced  an  action  in New  York  against  the  Company  and  the
competitor  for fees in  excess  of the  limitations  provided  in the  services
contract;  and  (c)  Decision  Strategies  successfully  moved  to  dismiss  the
Company's  Nassau County action  because  Decision  Strategies  had commenced an
action in New York County.

On April 13, 2005,  at a preliminary  conference  in New York County,  the Court
indicated  that the action  should be moved to Nassau County and scheduled a new
conference date on May 12, 2005. Pursuant to the Stipulation of Settlement,  the
competitor has agreed to assume  certain  potential  liabilities  and defend the
Company in this litigation, as noted above.

(5) Earnings Per Share

The  computation of diluted  earnings per share excludes all options since their
inclusion would be  anti-dilutive.  During the three months ended March 31, 2005
and 2004, 556,500 and 486,000 options, respectively, were excluded.


                                       8
<PAGE>

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

FINANCIAL CONDITION, LIQUIDITY AND CAPITAL RESOURCES

At March  31,  2005,  the  Company  had cash and cash  equivalents  of  $924,000
compared to $877,000 at December 31, 2004. The Company's working capital deficit
at March 31, 2005 was approximately  $1.15 million compared to a working capital
deficit of approximately  $1.05 million at December 31, 2004, due primarily to a
decrease of $265,000 in accounts  receivable and somewhat  off-set by a $139,000
decrease in deferred revenue. Additionally, the working capital deficit at March
31, 2005 is mainly  derived from the $2.08  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
recognized  as income over the  subscription  term,  which  approximates  twelve
months.  The  Company has no bank lines of credit or other  currently  available
credit sources.

Excluding  cash  expenditures  of $67,000  and  $98,000 in the first  quarter of
fiscal 2005 and 2004,  respectively,  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
$114,000  and  $115,000  for the three  months  ended  March 31,  2005 and 2004,
respectively.

On April 27, 2005, a Stipulation  of Settlement was filed with the Supreme Court
of the State of New York, Nassau County, pursuant to which: (i) the Company, the
competitor and all other parties agreed to settle the Litigation described above
(other than the Decision Strategies  litigation referred to below), and (ii) the
Company received payment of $1.1 million from the competitor.

After giving effect to the Stipulation of Settlement and the receipt of the $1.1
million settlement  proceeds,  the Company believes that it will have sufficient
resources to meet its working capital and capital  expenditure needs,  including
debt service, for the foreseeable future.

OFF-BALANCE SHEET ARRANGEMENTS

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


                                       9
<PAGE>

RESULTS OF OPERATIONS

<TABLE>
<CAPTION>
                                                    3 Months Ended March 31,
                                                    ------------------------
                                                2005                        2004
                                                ----                        ----
                                                    % of Total                  % of Total
                                                     Operating                   Operating
                                         Amount      Revenues        Amount      Revenues
                                         ------      --------        ------      --------
<S>                                    <C>             <C>         <C>             <C>
Operating revenues                     $ 895,254       100.00%     $ 827,197       100.00%
                                       ---------    ---------      ---------    ---------

Operating expenses:
  Data and product costs                 239,376        26.74%       270,500        32.70%
  Selling, general & administrative      682,219*       76.20%       598,148*       72.31%
  Depreciation and amortization           16,542         1.85%        17,984         2.17%
                                       ---------    ---------      ---------    ---------
    Total operating expenses             938,137       104.79%       886,632       107.19%
                                       ---------    ---------      ---------    ---------

Loss from operations                     (42,883)       -4.79%       (59,435)       -7.19%
Other income                               2,743         0.31%         2,064         0.25%
Interest expense                         (17,834)       -1.99%       (18,848)       -2.28%
                                       ---------    ---------      ---------    ---------

Loss before income taxes                 (57,974)       -6.48%       (76,219)       -9.21%
Provision for income taxes                (1,175)       -0.13%          (709)       -0.09%
                                       ---------    ---------      ---------    ---------

Net loss                               $ (59,149)       -6.61%     $ (76,928)       -9.30%
                                       =========    =========      =========    =========
</TABLE>

*     Litigation  expenses  were  $57,000 and  $66,000 for the first  quarter of
      fiscal 2005 and 2004, respectively.

Operating  revenues increased 8% for the three months ended March 31, 2005. 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 12% for the first quarter of 2005 compared to
the same period of fiscal 2004.  This  decrease was  primarily  due to the lower
cost of acquiring third-party international credit reports, and lower salary and
related  employee  benefits  resulting  from a  decrease  in  headcount,  offset
partially  by the cost of the  co-location  facility  that the  Company  started
leasing in the third quarter of 2004.

Selling, general and administrative expenses increased 14% for the first quarter
of fiscal 2005 compared to the same period of fiscal 2004. This increase was due
primarily to higher salary and related employee benefit costs due to an increase
in the  Company's  sales  force  during the past 12 months,  an increase in rent
expense due to the Company's  relocation  to new leased  facilities in the third
quarter of 2004, and an increase in marketing  expenses,  partially  offset by a
decrease in legal fees incurred in connection with the Litigation.

Depreciation and amortization  decreased 8% for the first quarter of fiscal 2005
compared to the same period of fiscal  2004.  This  decrease  was due to a lower
depreciable  asset base during most of the quarter,  as certain  items have been
fully depreciated but are still in use, offset by depreciation  expense recorded
for assets either  purchased or leased in connection with the Company's move and
the decision to co-locate  its  production  servers in the second half of fiscal
2004.

Other income increased 33% for first quarter of fiscal 2005 compared to the same
period last year. This increase was due to a higher interest rate received


                                       10
<PAGE>

on funds  invested  in interest  bearing  accounts  during the  current  quarter
compared to the same period last year.

Interest  expense  decreased 5% for the first quarter of fiscal 2005 compared to
the same period of fiscal 2004.  This  decrease  was due to a lower  outstanding
promissory note balance.

The Company  reported a net loss of $59,000 versus a net loss of $77,000 for the
three  months  ended  March  31,  2005 and  2004,  respectively.  Excluding  the
Litigation  expenses of $57,000 and $66,000 for the three months ended March 31,
2005 and 2004,  respectively,  the  Company  would have  reported  net losses of
$2,000  and  $11,000  for the  three  months  ended  March  31,  2005 and  2004,
respectively.

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


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<PAGE>

and markets,  (iii) the  development of new services and products by the Company
and  its  competitors,  (iv)  price  competition,  (v) the  level  of use of the
Internet and online services and increasing acceptance of the Internet and other
online  services  for the  purchase  of  products  such as those  offered by the
Company,  (vi) the  Company's  ability to upgrade  and  develop  its systems and
infrastructure, (vii) the Company's ability to attract new personnel in a timely
and  effective  manner,  (viii) the level of traffic on the  Company's Web site,
(ix) the Company's ability to manage effectively its development of new business
segments and  markets,  (x) the  Company's  ability to  successfully  manage the
integration  of operations  and  technology of  acquisitions  or other  business
combinations,   (xi)  technical   difficulties,   system  downtime  or  Internet
brownouts,   (xii)  the  amount  and  timing  of  operating  costs  and  capital
expenditures  relating to expansion of the Company's  business,  operations  and
infrastructure,  (xiii)  governmental  regulation and taxation  policies,  (xiv)
disruptions  in service by common  carriers  due to strikes or  otherwise,  (xv)
risks of fire or other casualty,  (xvi) litigation costs or other  unanticipated
expenses,  (xviii) interest rate risks and inflationary  pressures,  and (xviii)
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.


                                       12
<PAGE>

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.  Management is
aware that there is a lack of  segregation  of duties due to the small number of
employees dealing with general  administrative and financial  matters.  However,
management has decided that  considering the employees  involved and the control
procedures  in  place,  risks  associated  with  such  lack of  segregation  are
insignificant and the potential benefit of adding employees to clearly segregate
duties do not justify the expenses associated with such increase.


                                       13
<PAGE>

PART II. OTHER INFORMATION

Item 1. Legal Proceedings

On April 27,  2005,  the Company  executed an  agreement  (the  "Stipulation  of
Settlement")  which  settled all of the lawsuits  between it and its  competitor
discussed in the succeeding paragraphs below, and its competitor  simultaneously
paid the Company $1.1  million.  This payment will be reflected in the Company's
consolidated  financial  statements  for its quarter  ending June 30,  2005.  In
addition,  the  competitor  agreed in the  Stipulation  of  Settlement to assume
certain  potential  liabilities  against  the  Company and defend the Company in
connection with the Decision Strategies litigation also discussed below.

As previously  reported:  (a) on April 20, 2001,  the Company filed an action in
the  Supreme  Court of the  State of New York,  Nassau  County,  against  Samuel
Fensterstock  and  a  competitor  (collectively,   the  "Defendants"),   seeking
injunctive relief,  declaratory relief and monetary damages; (b) thereafter, the
parties entered into a Settlement  Agreement that was so ordered by the Court in
July 2001  pursuant to which the  Defendants  were  restricted  from engaging in
certain  activities;  (c) on November 27, 2001, the Company  commenced an action
against the Defendants (the "Contempt  Proceedings") in the Supreme Court of the
State of New  York,  Nassau  County;  (d) on  August 6,  2004,  in the  Contempt
Proceedings,  the Court issued a Decision  finding that Defendants  violated the
Settlement  Agreement  and were in contempt of the July 2001 Order,  and awarded
compensatory and punitive damages against the Defendants  aggregating  $821,044,
plus attorney fees and legal costs in an amount to be determined;  (e) on August
24, 2004,  the Court  entered a Judgment  providing for the  enforcement  of its
award and  assigned  a Referee  to  conduct a hearing  concerning  the amount of
attorneys'  fees and costs to be  awarded;  (f) on August 30,  2004,  Defendants
filed a Notice of Appeal and posted a $900,000  bond to secure the  compensatory
and punitive  damages  awarded in the Judgment;  (g) on September 10, 2004,  the
competitor and Samuel  Fensterstock  served separate Motions to Reargue;  (h) in
January 2005, the Court rejected the arguments  contained in Defendants' Motions
to  Reargue  and the  Defendants  each filed  Notices  of Appeal of the  Court's
rejection  of the  arguments  contained  in the Motions to  Reargue;  and (i) in
February 2005, the Defendants  presented separate  applications to the Appellate
Division   requesting  that  the  Appellate  Division  dispense  with  requiring
Defendants  to file a complete  copy of the trial  transcript  from the Contempt
Proceeding and the Company opposed Defendants' applications.

On March 25, 2005 the Appellate  Division denied  Defendants'  separate  motions
requesting  the  Appellate  Division  to  dispense  with  the  requirement  that
Defendants  file a complete  copy of the trial  transcript  with  respect to the
appeal.  On April 7,  2005 the  Court  entered  a  Judgment  providing  that the
competitor would pay the Company at least $620,000 in attorney fees and allowing
the competitor to post a bond.

As previously reported: (a) in February 2003, the competitor commenced an action
(the "Competitor  Action") in the same Court, against the Company, its President
and a senior  manager,  seeking  compensatory  damages,  exemplary  damages  and
injunctive  relief; and (b) the Company denied the allegations in the Competitor
Action and  counterclaimed  against the  competitor,  its  President  and Samuel
Fensterstock.

As previously  reported:  (a) in January 2004, the Company filed a second action
in the same  Court  by  order to show  cause  against  the  competitor  and Mark
McNamara, a former Company employee, seeking injunctive relief,


                                       14
<PAGE>

declaratory  relief and  monetary  damages  arising  from the  competitor's  and
McNamara's  misappropriation of CRM's proprietary information;  and (b) by Order
dated  April 2,  2004 the Court  denied  the  Company's  request  for  immediate
injunctive relief.

As previously  reported:  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  arising  from  the
competitor's and Kohler's misappropriation of CRM's proprietary information.

As previously  reported:  (a) in July 2004,  the Company  commenced an action in
Nassau County  against  Decision  Strategies LLC  ("Decision  Strategies"),  the
court-appointed  forensic  computer expert in the Enforcement  Proceedings,  for
breach of its services  contract and seeking a declaration  of the rights of the
parties  under  the  terms  of the  contract;  (b) also in July  2004,  Decision
Strategies  commenced  an  action  in New  York  against  the  Company  and  the
competitor  for fees in  excess  of the  limitations  provided  in the  services
contract;  and  (c)  Decision  Strategies  successfully  moved  to  dismiss  the
Company's  Nassau County action  because  Decision  Strategies  had commenced an
action in New York County.

On April 13, 2005,  at a preliminary  conference  in New York County,  the Court
indicated  that the action  should be moved to Nassau County and scheduled a new
conference date on May 12, 2005. Pursuant to the Stipulation of Settlement,  the
competitor has agreed to assume  certain  potential  liabilities  and defend the
Company in this litigation, as noted above.

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

      10.1  Stipulation of Settlement and Order dated as of April 27, 2005.

      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.


                                       15
<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: May 16, 2005                            By: /s/ Lawrence Fensterstock
                                                      Lawrence Fensterstock
                                                      Chief Financial Officer


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