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, 2002

|_|   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 -- 5,419,129 shares outstanding as of October 31,
2002.

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

<PAGE>

                           CREDITRISKMONITOR.COM, INC.
                                      INDEX

                                                                            Page

PART I. FINANCIAL INFORMATION

     Item 1. Financial Statements

         Consolidated Balance Sheets - September 30, 2002 (Unaudited)
         and December 31, 2001 (Audited).......................................2

         Consolidated Statements of Operations for the Three Months
         Ended September 30, 2002 and 2001 (Unaudited).........................3

         Consolidated Statements of Operations for the Nine Months
         Ended September 30, 2002 and 2001 (Unaudited).........................4

         Consolidated Statements of Cash Flows for the Nine Months
         Ended September 30, 2002 and 2001 (Unaudited).........................5

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

     Item 2. Management's Discussion and Analysis of Financial Condition
         and Results of Operations.............................................8

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

PART II. OTHER INFORMATION

     Item 1. Legal Proceedings................................................13

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

SIGNATURES....................................................................14

CERTIFICATIONS................................................................15


                                      -1-
<PAGE>

PART I. FINANCIAL INFORMATION

Item 1. Financial Statements

                           CREDITRISKMONITOR.COM, INC.
                           CONSOLIDATED BALANCE SHEETS
                    SEPTEMBER 30, 2002 AND DECEMBER 31, 2001

<TABLE>
<CAPTION>

                                                        Sept. 30,        Dec. 31,
                                                           2002            2001
                                                           ----            ----
                                                       (Unaudited)       (Audited)
<S>                                                    <C>             <C>
ASSETS
Current assets:
     Cash and cash equivalents                         $  1,252,615    $  1,320,696
     Accounts receivable, net of allowance                  248,966         580,425
     Other current assets                                   183,648         359,507
                                                       ------------    ------------

         Total current assets                             1,685,229       2,260,628

Property and equipment, net                                 185,922         232,503
Goodwill, net                                             1,954,460       1,954,460
Prepaid and other assets                                     35,290          50,564
                                                       ------------    ------------

         Total assets                                  $  3,860,901    $  4,498,155
                                                       ============    ============

LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
     Deferred revenue                                  $  2,059,190    $  2,401,532
     Accounts payable                                       121,271         115,890
     Accrued expenses                                        88,344          97,342
     Current portion of long-term debt                      209,538         180,258
     Current portion of capitalized lease obligation          9,940           5,868
                                                       ------------    ------------

         Total current liabilities                        2,488,283       2,800,890
                                                       ------------    ------------

Long-term debt, net of current portion:
     Promissory note                                        645,187         792,638
     Capitalized lease obligation                            16,415          12,599
                                                       ------------    ------------
                                                            661,602         805,237
Deferred rent payable                                         8,566           8,503
Deferred compensation                                       220,000         201,250
                                                       ------------    ------------

         Total liabilities                                3,378,451       3,815,880
                                                       ------------    ------------

Stockholders' equity:
     Common stock                                            54,191          53,441
     Additional paid-in capital                          27,201,170      27,201,912
     Accumulated deficit                                (26,772,911)    (26,573,078)
                                                       ------------    ------------

         Total stockholders' equity                         482,450         682,275
                                                       ------------    ------------

         Total liabilities and stockholders' equity    $  3,860,901    $  4,498,155
                                                       ============    ============
</TABLE>

See accompanying condensed notes to consolidated financial statements.


                                      -2-
<PAGE>

                           CREDITRISKMONITOR.COM, INC.
                      CONSOLIDATED STATEMENTS OF OPERATIONS
             FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2002 AND 2001
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                           2002             2001
                                                           ----             ----
<S>                                                     <C>            <C>
Operating revenues                                      $   743,614    $   732,869

Operating expenses:
     Data and product costs                                 357,638        320,615
     Selling, general and administrative expenses           380,064        451,642
     Depreciation and amortization                           26,569         56,293
                                                        -----------    -----------

         Total operating expenses                           764,271        828,550
                                                        -----------    -----------

Loss from operations                                        (20,657)       (95,681)
Other income                                                  6,197          9,071
Interest expense                                            (22,907)       (26,404)
Write-off of investment                                          --        (44,000)
                                                        -----------    -----------

Loss before income taxes                                    (37,367)      (157,014)
Provision for state and local income taxes                       --             --
                                                        -----------    -----------

Net loss                                                $   (37,367)   $  (157,014)
                                                        ===========    ===========

Net loss per share of common stock:

     Basic and diluted                                  $     (0.01)   $     (0.03)
                                                        ===========    ===========

Weighted average number of common shares outstanding:

     Basic and diluted                                    5,419,129      5,344,129
                                                        ===========    ===========
</TABLE>

See accompanying condensed notes to consolidated financial statements.


                                      -3-
<PAGE>

                           CREDITRISKMONITOR.COM, INC.
                      CONSOLIDATED STATEMENTS OF OPERATIONS
              FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2002 AND 2001
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                            2002           2001
                                                            ----           ----
<S>                                                     <C>            <C>
Operating revenues                                      $ 2,323,819    $ 2,212,727

Operating expenses:
     Data and product costs                               1,108,157        897,982
     Selling, general and administrative expenses         1,278,405      1,585,389
     Depreciation and amortization                           80,077        166,724
                                                        -----------    -----------

         Total operating expenses                         2,466,639      2,650,095
                                                        -----------    -----------

Loss from operations                                       (142,820)      (437,368)
Other income                                                 14,815         36,017
Interest expense                                            (70,608)       (78,116)
Write-off of investment                                          --        (44,000)
                                                        -----------    -----------

Loss before income taxes                                   (198,613)      (523,467)
Provision for state and local income taxes                    1,220          3,061
                                                        -----------    -----------

Net loss                                                $  (199,833)   $  (526,528)
                                                        ===========    ===========

Net loss per share of common stock:

     Basic and diluted                                  $     (0.04)   $     (0.10)
                                                        ===========    ===========

Weighted average number of common shares outstanding:

     Basic and diluted                                    5,394,129      5,344,129
                                                        ===========    ===========
</TABLE>

See accompanying condensed notes to consolidated financial statements.


                                      -4-
<PAGE>

                           CREDITRISKMONITOR.COM, INC.
                      CONSOLDIATED STATEMENTS OF CASH FLOWS
              FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2002 AND 2001
                                   (Unaudited)

                                                        2002           2001
                                                        ----           ----

Cash flows from operating activities:
     Net loss                                       $  (199,833)   $  (526,528)
     Adjustments to reconcile net loss to net
         cash provided by operating activities:
              Goodwill amortization                          --         85,806
              Depreciation                               80,077         80,918
              Amortization of debt discount                  --         82,762
              Write-off of investment                        --         44,000
              Deferred compensation                      18,750         20,833
              Deferred rent                                  63          2,165
     Changes in operating assets and liabilities:
         Accounts receivable                            331,459        (55,372)
         Other current assets                           175,859       (198,632)
         Prepaid and other assets                        15,274          6,212
         Deferred revenue                              (342,342)       586,107
         Accounts payable                                 5,381         82,287
         Accrued expenses                                (8,998)        10,113
                                                    -----------    -----------

Net cash provided by operating activities                75,690        220,671
                                                    -----------    -----------

Cash flows from investing activities:
     Purchase of property and equipment                 (33,496)       (45,945)
                                                    -----------    -----------

Net cash used in investing activities                   (33,496)       (45,945)
                                                    -----------    -----------

Cash flows from financing activities:
     Proceeds from exercise of stock options                  8             --
     Payments on promissory notes                      (118,171)      (100,234)
     Proceeds from (payments on) capital lease
         obligations, net                                 7,888         (3,889)
                                                    -----------    -----------

Net cash used in financing activities                  (110,275)      (104,123)
                                                    -----------    -----------

Net increase (decrease) in cash and cash
     equivalents                                        (68,081)        70,603
Cash and cash equivalents at beginning of
     period                                           1,320,696      1,215,197
                                                    -----------    -----------

Cash and cash equivalents at end of period          $ 1,252,615    $ 1,285,800
                                                    ===========    ===========

See accompanying condensed notes to consolidated financial statements.


                                      -5-
<PAGE>

                           CREDITRISKMONITOR.COM, INC.
              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 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 financial statements and the notes
thereto in the Company's annual report on Form 10-KSB for the year ended
December 31, 2001.

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,
2002 and the results of its operations and its cash flows for the nine-month
periods ended September 30, 2002 and 2001.

Results of operations for the nine-month periods ended September 30, 2002 and
2001 are not necessarily indicative of the results of a full year.

Certain prior year amounts have been reclassified to conform with the fiscal
2002 presentation.

The Company incorporated a new subsidiary during 2002, which has been inactive
to date.

(2) Recently Issued Accounting Standards

In June 2001, the Financial Accounting Standards Board ("FASB") issued Statement
of Financial Accounting Standards ("SFAS") No. 142, "Goodwill and Other
Intangible Assets." This statement requires that goodwill and intangible assets
deemed to have an indefinite life not be amortized. Instead of amortizing
goodwill and intangible assets deemed to have an indefinite life, the statement
requires a test for impairment to be performed annually, or immediately if
conditions indicate that such an impairment could exist. This statement is
effective January 1, 2002. Effective January 1, 2002, the Company ceased
amortizing goodwill. The Company has completed the transitional testing of its
intangible assets, including goodwill. The Company did not identify any
impairment of its outstanding goodwill. Proforma net loss and net loss per share
for the three and nine months ended September 30, 2001, adjusted to eliminate
historical amortization of goodwill, are as follows:


                                      -6-
<PAGE>

                                                   Three               Nine
                                                Months Ended       Months Ended
                                               Sept. 30, 2001     Sept. 30, 2001
                                               --------------     --------------

Reported net loss                                 $(157,014)        $(526,528)
Add: Goodwill amortization                           28,602            85,806
                                                  ---------         ---------
Pro forma net loss                                $(128,412)        $(440,722)
                                                  =========         =========

Reported net loss per share:
     Basic and diluted                            $   (0.03)        $   (0.10)

Pro forma net loss per share:
     Basic and diluted                            $   (0.02)        $   (0.08)

In October 2001, the FASB issued SFAS No. 144, "Accounting for the Impairment or
Disposal of Long-lived Assets," which supersedes SFAS No. 121. Though it retains
the basic requirements of SFAS No. 121 regarding when and how to measure an
impairment loss, SFAS No. 144 provides additional implementation guidance. SFAS
No. 144 applies to long-lived assets to be held and used or to be disposed of,
including assets under capital leases of lessees; assets subject to operating
leases of lessors; and prepaid assets. This statement is effective for fiscal
years beginning after December 15, 2001. The Company's adoption of this SFAS has
not had a material impact on its consolidated financial statements.

In April 2002, the FASB issued SFAS No. 145, "Rescission of FASB Statements No.
4, 44 and 64, Amendment of FASB Statement No. 13, and Technical Corrections".
This statement clarifies guidance related to the reporting of gains and losses
from extinguishment of debt and resolves inconsistencies related to the required
accounting treatment of certain lease modifications. The provisions of this
statement relating to extinguishment of debt become effective for financial
statements issued for fiscal years beginning after May 15, 2002. The provisions
of this statement relating to lease modification are effective for transactions
occurring after May 15, 2002. The Company does not expect the adoption of the
provisions of SFAS No. 145 to have a material impact on its consolidated
financial statements.

In June 2002, the FASB issued SFAS No. 146, "Accounting for Costs Associated
with Exit or Disposal Activities", which addresses financial accounting and
reporting for costs associated with exit or disposal activities. Under this
statement such costs will be recognized when the liability is incurred, rather
than at the date of commitment to an exit plan. SFAS No. 146 is effective for
exit or disposal activities that are initiated after December 31, 2002, with
early application permitted. The Company does not expect the adoption of SFAS
No. 146 to have a material impact on its consolidated financial statements.


                                      -7-
<PAGE>

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

LIQUIDITY AND CAPITAL RESOURCES

      At September 30, 2002, the Company had cash, cash equivalents and other
liquid assets of $1.25 million compared to $1.32 million at December 31, 2001.
The Company's working capital deficit at September 30, 2002 was approximately
$803,000 compared to a working capital deficit of $540,000 at December 31, 2001.
This decrement was due to (1) a $331,000 decrease in accounts receivable, (2) a
$4,000 decrease in accounts payable and accrued expenses, (3) a $342,000
decrease in deferred revenue, (4) a $176,000 decrease in other current assets,
(5) a $34,000 increase in the current portion of long-term obligations, and (6)
a $68,000 decrease in cash and cash equivalents. The Company has no bank lines
of credit or other currently available credit sources.

      For the nine months ended September 30, 2002, the Company reported a
$68,000 decrease in cash and cash equivalents compared to a $71,000 increase for
the same period in the prior fiscal year.

      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 12 months. However, certain external factors such as unfavorable economic
conditions and competition could have a significant impact on cash generated
from operations. If existing cash is insufficient to satisfy its liquidity
requirements, the Company may seek to sell additional equity or debt securities.
The Company has not made arrangements to obtain additional financing and there
is no assurance that financing, if required, will be available in amounts or on
terms acceptable to it, if at all.

RESULTS OF OPERATIONS

<TABLE>
<CAPTION>
                                                   3 Months Ended September,
                                                   -------------------------
                                                2002                      2001
                                                ----                      ----
                                                     % of Total               % of Total
                                         Amount        Income      Amount       Income
                                         ------        ------      ------       ------
<S>                                    <C>             <C>      <C>             <C>
Operating revenues                     $ 743,614       100.00%  $ 732,869       100.00%

Operating expenses:
Data and product costs                   357,638        48.09%    320,615        43.75%
   Selling, general & administrative     380,064        51.11%    451,642        61.63%
   Depreciation and amortization          26,569         3.57%     56,293         7.68%
                                       ---------    ---------   ---------    ---------
     Total operating expenses            764,271       102.78%    828,550       113.06%
                                       ---------    ---------   ---------    ---------

Loss from operations                     (20,657)       -2.78%    (95,681)      -13.06%
Other income                               6,197         0.83%      9,071         1.24%
Interest expense                         (22,907)       -3.08%    (26,404)       -3.60%
Write-off of investment                       --           --%    (44,000)       -6.00%
                                       ---------    ---------   ---------    ---------

Loss before income taxes                 (37,367)       -5.03%   (157,014)      -21.42%
Income taxes                                  --           --%         --           --%
                                       ---------    ---------   ---------    ---------

Net loss                               $ (37,367)       -5.03%  $(157,014)      -21.42%
                                       =========    =========   =========    =========
</TABLE>

      Operating revenues increased 1% for the three months ended September 30,
2002. This increase was primarily due to an increase in the number of
subscribers to the Company's subscription service offset by a reduction in the
revenue received for the management of the former Graydon America credit
reporting business.


                                      -8-
<PAGE>

      Data and product costs increased 12% for the third quarter of 2002
compared to the same period of fiscal 2001. 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 16% for the third
quarter of fiscal 2002 compared to the same period of fiscal 2001. This decrease
was primarily due to lower salary and related employee benefit costs, as a
result of personnel turnover during the past 12 months as well as a revamping of
the Company's commission program, a decrease in consulting fees and a decrease
in legal fees incurred in connection with the Company's legal proceeding (see
Part II, Item 1).

      Depreciation and amortization decreased 53% for the third quarter of
fiscal 2002 compared to the same period of fiscal 2001. This decrease is due to
the adoption as of January 1, 2002 of SFAS No. 142. This statement eliminated
the amortization of goodwill, which totaled over $28,600 in the third quarter of
fiscal 2001.

      Other income decreased 32% for third quarter of fiscal 2002 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 interest rates paid
on these investments during the current quarter compared to the same period last
year.

      Interest expense decreased 13% for the third quarter of fiscal 2002
compared to the same period of fiscal 2001. This decrease was due to a lower
outstanding promissory note balance as the Company started to service its
indebtedness to MGI in July 2001.

      The Company incurred a net loss of $37,000 and $157,000 for the three
months ended September 30, 2002 and 2001, respectively.

<TABLE>
<CAPTION>
                                                     9 Months Ended September 30,
                                                     ----------------------------
                                                   2002                        2001
                                                   ----                        ----
                                                       % of Total                    % of Total
                                          Amount         Income         Amount         Income
                                          ------         ------         ------         ------
<S>                                    <C>                <C>        <C>                <C>
Operating revenues                     $ 2,323,819        100.00%    $ 2,212,727        100.00%

Operating expenses:
   Data and product costs                1,108,157         47.69%        897,982         40.58%
   Selling, general & administrative     1,278,405         55.01%      1,585,389         71.65%
   Depreciation and amortization            80,077          3.45%        166,724          7.53%
                                       -----------    ----------     -----------    ----------
     Total operating expenses            2,466,639        106.15%      2,650,095        119.77%
                                       -----------    ----------     -----------    ----------

Loss from operations                      (142,820)        -6.15%       (437,368)       -19.77%
Other income                                14,815          0.64%         36,017          1.63%
Interest expense                           (70,608)        -3.04%        (78,116)        -3.53%
Write-off of investment                         --            --%        (44,000)        -1.99%
                                       -----------    ----------     -----------    ----------

Loss before income taxes                  (198,613)        -8.55%       (523,467)       -23.66%
Income taxes                                 1,220          0.05%          3,061          0.14%
                                       -----------    ----------     -----------    ----------

Net loss                               $  (199,833)        -8.60%    $  (526,528)       -23.80%
                                       ===========    ==========     ===========    ==========
</TABLE>

      Operating revenues increased 5% for the nine months ended September 30,
2002 compared to the same period of fiscal 2001. This increase was primarily due
to an increase in the number of subscribers to the Company's credit


                                      -9-
<PAGE>

reporting services offset by a reduction in the revenue received for the
management of the former Graydon America credit reporting business.

         Data and product costs increased 23% for the first nine months of 2002
compared to the same period of fiscal 2001. 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 19% for the
first nine months of fiscal 2002 compared to the same period of fiscal 2001.
This decrease was primarily due to: (1) lower salary and related employee
benefit costs, as a result of personnel turnover during the past 12 months as
well as a revamping of the Company's commission program, (2) a decrease in
professional fees, primarily legal fees incurred in connection with the
Company's legal proceeding (see Part II, Item 1), and (3) lower marketing
expenses incurred in fiscal 2002.

         Depreciation and amortization decreased 52% for the first nine months
of fiscal 2002 compared to the same period of fiscal 2001. This decrease is due
to the adoption as of January 1, 2002 of SFAS No. 142. This statement eliminated
the amortization of goodwill, which totaled over $85,800 for the first nine
months of fiscal 2001.

         Other income decreased 59% for nine months ended September 30, 2002
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
interest rates paid on these investments during the 2002 period compared to the
same period last year.

         Interest expense decreased 10% for the first nine months of fiscal 2002
compared to the same period of fiscal 2001. This decrease was due to the Company
starting to service its indebtedness to MGI in July 2001.

         The Company incurred a net loss of $200,000 and $527,000 for the nine
months ended September 30, 2002 and 2001, 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 continually
evaluates its estimates and judgments, the most critical of which are those
related to revenue recognition, valuation of goodwill and income taxes.
Management bases its estimates and judgments on historical experience and other
factors that are believed to be reasonable under the circumstances. Eventual
results may differ from these estimates.

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


                                      -10-
<PAGE>

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 operating results include,
among others, (i) the Company's ability to retain existing subscribers, attract
new subscribers at a steady rate and maintain subscriber satisfaction, (ii) the
development, announcement or introduction of new services and products by the
Company and its competitors, (iii) price competition, (iv) the increasing
acceptance of the Internet for the purchase of credit information such as that
offered by the Company, (v) the Company's ability to upgrade and develop its
systems and infrastructure, (vi) the Company's ability to attract new personnel
in a timely and effective manner, (vii) the Company's ability to manage
effectively the broadening of its service to encompass additional companies
monitored and the development of new products, (viii) the Company's ability to
obtain private company data at a reasonable cost, (ix) the Company's ability to
successfully manage the integration of third-party data into its Internet site,
(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, (xii)
general economic conditions and economic conditions specific to the Internet and
the credit information industry, and (xiii) the occurrence of a natural disaster
or other catastrophic event as our operations are susceptible to outages due to
fire, floods, power loss, telecommunications failures, break-ins and similar
events.

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


                                      -11-
<PAGE>

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

      Within the 90-day period prior to the date of this report, the Company
carried out an evaluation, under the supervision and with the participation of
the Company's management, including the Company's Chief Executive Officer and
Chief Financial Officer, of the effectiveness of the design and operation of the
Company's disclosure controls and procedures (as defined in Rule 13a-14(c) and
Rule 15d-14(c) under the Securities Exchange Act of 1934). Based upon that
evaluation, the Chief Executive Officer and Chief Financial Officer concluded
that the design and operation of these disclosure controls and procedures were
effective.

      There were no significant changes in the Company's internal controls or in
other factors that could significantly affect these controls subsequent to the
date of such evaluation.


                                      -12-
<PAGE>

PART II. OTHER INFORMATION

Item 1. Legal Proceedings

      On April 20, 2001, the Company filed an action in the Supreme Court of the
State of New York, Nassau County, against Samuel Fensterstock ("Fensterstock"),
and a competitor, seeking injunctive relief, declaratory relief and monetary
damages. The complaint alleged, inter alia, that Fensterstock, former Senior
Vice President -- Sales Development of the Company, resigned on April 5, 2001 to
join a competitor in violation of the terms of his Non-Competition, Proprietary
Information and Inventions Agreement with the Company and in breach of his
fiduciary duties to the Company, and further, that the competitor intentionally
induced the breach of Fensterstock's Agreement with the Company. On April 23,
2001, the Court issued a temporary restraining order against Fensterstock and
the competitor. Thereafter, the parties entered into a Settlement Agreement
pursuant to which Fensterstock and the competitor would be restricted from
engaging in certain activities and Fensterstock would not work for the
competitor through various stipulated dates. The settlement was approved and so
ordered by the Court in July 2001. Thereafter, the Company uncovered evidence
that Fensterstock and the competitor violated the Settlement Agreement and the
July 2001 Court order and commenced an action seeking contempt, monetary
damages, punitive damages and injunctive relief against Fensterstock and the
competitor for such violations. The Company has also requested discovery and a
hearing and is seeking an extension of the non-compete and non-solicitation
provisions of the prior Court order and Settlement Agreement. By Order dated May
15, 2002, the Court granted the Company's request for discovery and a hearing.
The parties are now engaged in discovery. In the interim, Fensterstock and the
competitor filed a Motion seeking to vacate the settlement and dismiss the
instant action, which Motion was denied by the Court.

Item 6. Exhibits and Reports on Form 8-K

(a)   Exhibits

      None.

(b)   Reports on Form 8-K

      A Current Report on Form 8-K, dated August 8, 2002, was filed on August
      13, 2002, regarding the termination of Arthur Andersen LLP as the
      Company's independent public accountants.

      A Current Report on Form 8-K, dated September 13, 2002, was filed on
      September 20, 2002, regarding the engagement of BDO Seidman, LLP as the
      Company's independent public accountants.


                                      -13-
<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 13, 2002                  By: /s/ Lawrence Fensterstock
                                                 Lawrence Fensterstock
                                                 Chief Financial Officer


                                      -14-
<PAGE>

                                  CERTIFICATION

I, Jerome S. Flum, certify that:

      1. I have reviewed this quarterly report on Form 10-QSB of
CreditRiskMonitor.com, Inc.;

      2. Based on my knowledge, this quarterly report does not contain any
untrue statement of a material fact or omit to state a material fact necessary
to make the statements made, in light of the circumstances under which such
statements were made, not misleading with respect to the period covered by this
quarterly report;

      3. Based on my knowledge, the financial statements, and other financial
information included in this quarterly report, fairly present in all material
respects the financial condition, results of operations and cash flows of the
registrant as of, and for, the periods presented in this quarterly report;

      4. The registrant's other certifying officers and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined in
Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:

      a)    designed such disclosure controls and procedures to ensure that
            material information relating to the registrant, including its
            consolidated subsidiaries, is made known to us by others within
            those entities, particularly during the period in which this
            quarterly report is being prepared;

      b)    evaluated the effectiveness of the registrant's disclosure controls
            and procedures as of a date within 90 days prior to the filing date
            of this quarterly report (the "Evaluation Date"); and

      c)    presented in this quarterly report our conclusions about the
            effectiveness of the disclosure controls and procedures based on our
            evaluation as of the Evaluation Date;

      5. The registrant's other certifying officers and I have disclosed, based
on our most recent evaluation, to the registrant's auditors and the audit
committee of registrant's board of directors (or persons performing the
equivalent function):

      a)    all significant deficiencies in the design or operation of internal
            controls which could adversely affect the registrant's ability to
            record, process, summarize and report financial data and have
            identified for the registrant's auditors any material weaknesses in
            internal controls; and

      b)    any fraud, whether or not material, that involves management or
            other employees who have a significant role in the registrant's
            internal controls; and

      6. The registrant's other certifying officers and I have indicated in this
quarterly report whether or not there were significant changes in internal
controls or in other factors that could significantly affect internal controls
subsequent to the date of our most recent evaluation, including any corrective
actions with regard to significant deficiencies and material weaknesses.

Date: November 13, 2002               By: /s/ Jerome S. Flum
                                              Jerome S. Flum
                                              Chief Executive Officer


                                      -15-
<PAGE>

                                  CERTIFICATION

I, Lawrence Fensterstock, certify that:

      1. I have reviewed this quarterly report on Form 10-QSB of
CreditRiskMonitor.com, Inc.;

      2. Based on my knowledge, this quarterly report does not contain any
untrue statement of a material fact or omit to state a material fact necessary
to make the statements made, in light of the circumstances under which such
statements were made, not misleading with respect to the period covered by this
quarterly report;

      3. Based on my knowledge, the financial statements, and other financial
information included in this quarterly report, fairly present in all material
respects the financial condition, results of operations and cash flows of the
registrant as of, and for, the periods presented in this quarterly report;

      4. The registrant's other certifying officers and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined in
Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:

      a)    designed such disclosure controls and procedures to ensure that
            material information relating to the registrant, including its
            consolidated subsidiaries, is made known to us by others within
            those entities, particularly during the period in which this
            quarterly report is being prepared;

      b)    evaluated the effectiveness of the registrant's disclosure controls
            and procedures as of a date within 90 days prior to the filing date
            of this quarterly report (the "Evaluation Date"); and

      c)    presented in this quarterly report our conclusions about the
            effectiveness of the disclosure controls and procedures based on our
            evaluation as of the Evaluation Date;

      5. The registrant's other certifying officers and I have disclosed, based
on our most recent evaluation, to the registrant's auditors and the audit
committee of registrant's board of directors (or persons performing the
equivalent function):

      a)    all significant deficiencies in the design or operation of internal
            controls which could adversely affect the registrant's ability to
            record, process, summarize and report financial data and have
            identified for the registrant's auditors any material weaknesses in
            internal controls; and

      b)    any fraud, whether or not material, that involves management or
            other employees who have a significant role in the registrant's
            internal controls; and

      6. The registrant's other certifying officers and I have indicated in this
quarterly report whether or not there were significant changes in internal
controls or in other factors that could significantly affect internal controls
subsequent to the date of our most recent evaluation, including any corrective
actions with regard to significant deficiencies and material weaknesses.

Date: November 13, 2002               By: /s/ Lawrence Fensterstock
                                      -------------------------------
                                              Lawrence Fensterstock
                                              Chief Financial Officer


                                      -16-