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, 2003

|_|   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 - 5,554,129 shares outstanding as of
                               October 31, 2003.
--------------------------------------------------------------------------------

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 - September 30, 2003 (Unaudited)
         and December 31, 2002 (Audited) ..................................    2

         Consolidated Statements of Operations for the Three Months
         Ended September 30, 2003 and 2002 (Unaudited) ....................    3

         Consolidated Statements of Operations for the Nine Months Ended
         September 30, 2003 and 2002 (Unaudited) ..........................    4

         Consolidated Statements of Cash Flows for the Nine Months
         Ended September 30, 2003 and 2002 (Unaudited) ....................    5

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

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

     Item 3. Controls and Procedures ......................................   15

PART II. OTHER INFORMATION

     Item 1. Legal Proceedings ............................................   16

     Item 2. Changes in Securities and Use of Proceeds ....................   16

     Item 6. Exhibits and Reports on Form 8-K .............................   16

SIGNATURES ................................................................   18


                                      -1-
<PAGE>

PART I. FINANCIAL INFORMATION

Item 1. Financial Statements

                   CREDITRISKMONITOR.COM, INC. AND SUBSIDIARY
                           CONSOLIDATED BALANCE SHEETS
                    SEPTEMBER 30, 2003 AND DECEMBER 31, 2002

<TABLE>
<CAPTION>
                                                        Sept. 30,       Dec. 31,
                                                           2003           2002
                                                       (Unaudited)     (Audited)
<S>                                                    <C>            <C>
ASSETS
Current assets:
     Cash and cash equivalents                         $    585,662   $    988,427
     Accounts receivable, net of allowance                  252,501        363,773
     Other current assets                                   117,927        131,361
                                                       ------------   ------------

         Total current assets                               956,090      1,483,561

Property and equipment, net                                  98,784        161,691
Goodwill, net                                             1,954,460      1,954,460
Prepaid and other assets                                     25,071         21,429
                                                       ------------   ------------

     Total assets                                      $  3,034,405   $  3,621,141
                                                       ============   ============

LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Current liabilities:
     Deferred revenue                                  $  1,910,486   $  1,934,732
     Accounts payable                                       225,289        112,470
     Accrued expenses                                       111,816         93,425
     Current portion of long-term debt                       94,979         81,523
     Current portion of capitalized lease obligations        11,808         10,652
                                                       ------------   ------------

         Total current liabilities                        2,354,378      2,232,802
                                                       ------------   ------------

Long-term debt, net of current portion:
     Promissory note                                        644,244        711,115
     Capitalized lease obligations                            4,252         13,259
                                                       ------------   ------------
                                                            648,496        724,374
Deferred rent payable                                         6,244          8,347
Deferred compensation                                       238,750        226,250
                                                       ------------   ------------

         Total liabilities                                3,247,868      3,191,773
                                                       ------------   ------------

Stockholders' equity (deficit):
     Common stock                                            55,541         54,191
     Additional paid-in capital                          27,219,629     27,201,171
     Accumulated deficit                                (27,488,633)   (26,825,994)
                                                       ------------   ------------

         Total stockholders' equity (deficit)              (213,463)       429,368
                                                       ------------   ------------

         Total liabilities and stockholders'
              equity (deficit)                         $  3,034,405   $  3,621,141
                                                       ============   ============
</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 SEPTEMBER 30, 2003 AND 2002
                                   (Unaudited)

                                                          2003          2002
                                                          ----          ----

Operating revenues                                    $   756,999   $   743,614

Operating expenses:
     Data and product costs                               290,896       357,638
     Selling, general and administrative expenses         620,271       380,064
     Depreciation and amortization                         22,195        26,569
                                                      -----------   -----------

         Total operating expenses                         933,362       764,271
                                                      -----------   -----------

Loss from operations                                     (176,363)      (20,657)
Other income                                                1,010         6,197
Interest expense                                          (20,001)      (22,907)
                                                      -----------   -----------

Loss before income taxes                                 (195,354)      (37,367)
Provision for state and local income taxes                    282            --
                                                      -----------   -----------

Net loss                                              $  (195,636)  $   (37,367)
                                                      ===========   ===========

Net loss per share of common stock:

     Basic and diluted                                $     (0.04)  $     (0.01)
                                                      ===========   ===========

Weighted average number of common shares
outstanding:

     Basic and diluted                                  5,512,879     5,419,129
                                                      ===========   ===========

     See accompanying condensed notes to consolidated financial statements.


                                      -3-
<PAGE>

                   CREDITRISKMONITOR.COM, INC. AND SUBSIDIARY
                      CONSOLIDATED STATEMENTS OF OPERATIONS
              FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2003 AND 2002
                                   (Unaudited)

                                                          2003          2002
                                                          ----          ----

Operating revenues                                    $ 2,210,493   $ 2,323,819

Operating expenses:
     Data and product costs                               934,580     1,108,157
     Selling, general and administrative expenses       1,811,675     1,278,405
     Depreciation and amortization                         69,469        80,077
                                                      -----------   -----------

         Total operating expenses                       2,815,724     2,466,639
                                                      -----------   -----------

Loss from operations                                     (605,231)     (142,820)
Other income                                                5,428        14,815
Interest expense                                          (61,854)      (70,608)
                                                      -----------   -----------

Loss before income taxes                                 (661,657)     (198,613)
Provision for state and local income taxes                    982         1,220
                                                      -----------   -----------

Net loss                                              $  (662,639)  $  (199,833)
                                                      ===========   ===========

Net loss per share of common stock:

     Basic and diluted                                $     (0.12)  $     (0.04)
                                                      ===========   ===========

Weighted average number of common shares
outstanding:

     Basic and diluted                                  5,450,379     5,394,129
                                                      ===========   ===========

     See accompanying condensed notes to consolidated financial statements.


                                      -4-
<PAGE>

                   CREDITRISKMONITOR.COM, INC. AND SUBSIDIARY
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
              FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2003 AND 2002
                                   (Unaudited)

                                                          2003          2002
                                                          ----          ----

Cash flows from operating activities:
     Net loss                                         $  (662,639)  $  (199,833)
     Adjustments to reconcile net loss to net
         cash provided by operating activities:
              Depreciation                                 69,469        80,077
              Deferred compensation                        12,500        18,750
              Deferred rent                                (2,103)           63
     Changes in operating assets and liabilities:
         Accounts receivable                              111,272       331,459
         Other current assets                              13,434       175,859
         Prepaid and other assets                          (3,642)       15,274
         Deferred revenue                                 (24,246)     (342,342)
         Accounts payable                                 112,819         5,381
         Accrued expenses                                  18,391        (8,998)
                                                      -----------   -----------
Net cash (used in) provided by operating activities      (354,745)       75,690
                                                      -----------   -----------

Cash flows from investing activities:
     Purchase of fixed assets                              (6,562)      (20,111)
                                                      -----------   -----------

Net cash used in investing activities                      (6,562)      (20,111)
                                                      -----------   -----------

Cash flows from financing activities:
     Issuance of common stock                              19,800            --
     Proceeds from exercise of stock options                    8             8
     Payments on promissory notes                         (53,415)     (118,171)
     Payments on capital lease obligation                  (7,851)       (5,497)
                                                      -----------   -----------

Net cash used in financing activities                     (41,458)     (123,660)
                                                      -----------   -----------

Net decrease in cash and cash equivalents                (402,765)      (68,081)
Cash and cash equivalents at beginning of
     period                                               988,427     1,320,696
                                                      -----------   -----------

Cash and cash equivalents at end of period            $   585,662   $ 1,252,615
                                                      ===========   ===========

     See accompanying condensed notes to consolidated financial statements.


                                      -5-
<PAGE>

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

(1) Basis of Presentation

The consolidated financial statements included herein have been prepared by
CreditRiskMonitor.com, Inc. (the "Company" or "CRM"), without audit, pursuant to
the rules and regulations of the Securities and Exchange Commission. Certain
information and footnote disclosures normally included in consolidated financial
statements prepared in accordance with generally accepted accounting principles
have been condensed or omitted pursuant to such rules and regulations, although
the Company believes that the disclosures herein are adequate to make the
information presented not misleading. These financial statements should be read
in conjunction with the financial statements and the notes thereto in the
Company's annual report on Form 10-KSB for the year ended December 31, 2002.

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,
2003 and the results of its operations and its cash flows for the nine-month
periods ended September 30, 2003 and 2002.

Results of operations for the nine-month periods ended September 30, 2003 and
2002 are not necessarily indicative of the results of a full year.

Certain prior year amounts have been reclassified to conform with the fiscal
2003 presentation.

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

(2) Stock-Based Compensation

The Company accounts for its stock-based employee compensation plan in
accordance with the provisions of APB No. 25, "Accounting for Stock Issued to
Employees" and related Interpretations. No stock-based employee compensation
cost is reflected in net loss, as all options granted under this plan had an
exercise price equal to or greater than the market value of the underlying
common stock on the date of grant.

The following table illustrates the effect on net loss and net loss per share
had the Company applied the fair value recognition provisions of Statement of
Financial Accounting Standards ("SFAS") No. 123, "Accounting for Stock-Based
Compensation", to its stock-based employee compensation plan for the periods
noted:


                                      -6-
<PAGE>

<TABLE>
<CAPTION>
                                             3 Months Ended          9 Months Ended
                                              September 30,           September 30,
                                              -------------           -------------
                                             2003        2002        2003        2002
                                             ----        ----        ----        ----
<S>                                       <C>         <C>         <C>         <C>
Net loss
     As reported                          $(195,636)  $ (37,367)  $(662,639)  $(199,833)
     Less: Total stock-based employee
         compensation expense determined
         under fair value based method
         for all awards, net of related
         tax benefits or effects            (13,377)     12,621      (6,163)     13,644
                                          ---------   ---------   ---------   ---------

     Pro forma                            $(209,013)  $ (24,746)  $(668,802)  $(186,189)
                                          =========   =========   =========   =========
Net loss per share - basic and
     diluted
         As reported                      $   (0.04)  $   (0.01)  $   (0.12)  $   (0.04)
         Pro forma                        $   (0.04)  $   (0.00)  $   (0.12)  $   (0.03)
</TABLE>

(3) Recently Issued Accounting Standards

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

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

In January 2003, the FASB issued FASB Interpretation ("FIN") No. 46,
"Consolidation of Variable Interest Entities". FIN No. 46 clarifies the
application of Accounting Research Bulletin No. 51, "Consolidated Financial
Statements", and applies immediately to any variable interest entities created
after January 31, 2003 and to variable interest entities in which an interest is
obtained after that date. The Company holds no interest in variable interest
entities.

In December 2002, the FASB issued SFAS No. 148, "Accounting for Stock-Based
Compensation -- Transition and Disclosure". SFAS No. 148 amends SFAS No. 123,
"Accounting for Stock-Based Compensation", to provide alternative methods of
transition for a voluntary change to the fair value based method of accounting
for stock-based employee compensation. In addition, SFAS No. 148 amends the
disclosure requirements of SFAS No. 123 to require prominent disclosures in both
annual and interim financial statements about the method


                                      -7-
<PAGE>

of accounting for stock based employee compensation and the effect of the method
used on reported results. The provisions of SFAS No. 148 are effective for
financial statements for fiscal years and interim periods ending after December
15, 2002. SFAS No. 148 does not have a material impact on the Company's
consolidated financial statements, as the adoption of this standard does not
require the Company to change, and the Company does not plan to change, to the
fair value based method of accounting for stock-based compensation.

In November 2002, the FASB issued FIN No. 45, "Guarantor's Accounting and
Disclosure Requirements for Guarantees, Including Indirect Guarantees of
Indebtedness of Others". FIN No. 45 requires a guarantor to recognize a
liability at the inception of the guarantee for the fair value of the obligation
undertaken in issuing the guarantee and include more detailed disclosure with
respect to guarantees. The types of contracts the Company enters into that meet
the scope of this interpretation are financial and performance standby letters
of credit on behalf of wholly-owned subsidiaries. FIN No. 45 is effective for
guarantees issued or modified after December 31, 2002. The Company has no
obligations regarding FIN No. 45.

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 adoption of the provisions of this SFAS did not
have a material impact on the Company's 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. SFAS No. 145 is effective
for fiscal years beginning after May 15, 2002. The adoption of the provisions of
SFAS No. 145 did have a material impact on the Company's consolidated financial
statements.

(4) Legal Proceedings

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 approved and so ordered by
the Court in July 2001 pursuant to which the Defendants were restricted from
engaging in certain activities; and (c) on November 27, 2001 the Company
commenced contempt proceedings (the "Contempt Proceedings") against the
Defendants in the same Court seeking monetary and punitive damages, legal costs
and injunctive relief for violation of the Settlement Agreement and the July
2001 Court order. After extensive discovery in the Contempt Proceedings, a
judicial hearing began on September 15, 2003 and is expected to conclude by year
end.

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. The
Company denied the allegations in the Competitor Action and counterclaimed
against the competitor, its President and Samuel Fensterstock. The parties
currently are engaged in discovery in connection with the Competitor Action and
a trial date is scheduled for June 2004.


                                      -8-
<PAGE>

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

FINANCIAL CONDITION, LIQUIDITY AND CAPITAL RESOURCES

At September 30, 2003, the Company had cash, cash equivalents and other liquid
assets of $586,000 compared to $988,000 at December 31, 2002. The Company's
working capital deficit at September 30, 2003 was approximately $1,398,000
compared to a working capital deficit of $749,000 at December 31, 2002. This
decrement was due to a $403,000 decrease in cash and cash equivalents, a
$111,000 decrease in accounts receivable, a $13,000 decrease in other current
assets, a $131,000 increase in accounts payable and accrued expenses and a
$15,000 increase in the current portion of long-term obligations, offset in part
by a $24,000 decrease in deferred revenue. The Company has no bank lines of
credit or other currently available credit sources.

For the nine months ended September 30, 2003, the Company reported a $403,000
decrease in cash and cash equivalents compared to a $68,000 decrease for the
same period in the prior fiscal year. Almost 80% of the current year's negative
cash flow is attributable to expenses incurred in connection with the litigation
described in Part II, Item 1 (the "Litigation"). The expenses of the Litigation
also accounted for approximately 96% and 62% of the Company's net loss for the
three and nine months ended September 30, 2003, respectively.

The Company expects to continue to be cash flow negative, after debt service,
during the balance of 2003. To address the Company's declining cash position,
the Company has commenced a private offering of shares of common stock to
accredited investors (the "Offering"). Pursuant to the Offering, a minimum of
700,000 shares of common stock and a maximum of 1,700,000 shares of common stock
are being offered hereby, at a purchase price of $.45 per share, or an aggregate
purchase price of $315,000 if the minimum is sold and an aggregate purchase
price of $765,000 if the maximum is sold. The Offering is for a period of
forty-five (45) days from October 24, 2003 and may be extended for up to an
additional sixty (60) days in the Company's sole discretion, provided there has
been a closing as to a minimum of $315,000 of common stock on or before December
8, 2003. The Company has reserved the right to increase the maximum number of
shares to be sold in the Offering. The Offering is being made by the Company and
no commissions will be paid for common shares sold. The Company has been advised
by Flum Partners, the majority shareholder of the Company, that it intends to
purchase not less than the minimum of $315,000 of common stock on the terms set
forth in the Offering.

The Company believes that upon conclusion of the hearing in the Contempt
Proceedings (see Part II, Item 1), which began on September 15, 2003, the
negative cash flow impact of its legal fees is likely to be substantially
eliminated or at least materially reduced, as discussed further below. There can
be no assurance that these expected results will be achieved within the
anticipated periods, if at all. Should the obligation to pay significant legal
fees continue through 2003 and into 2004, after giving effect to the proceeds of
the Offering the Company believes it will have sufficient resources to meet its
working capital and capital expenditure needs, including debt service, for at
least the next 12 months.

The Company is unable to predict the outcome of the Contempt Proceedings. It
believes, however, that upon conclusion of the hearing, its legal fees, which


                                      -9-
<PAGE>

have impacted materially its net losses and cash flow, will be substantially
eliminated or reduced in the following circumstances:

      (a)   its legal fees will be substantially eliminated if the Company
            either loses in the Contempt Proceedings or if the Company wins and
            the Defendants do not appeal; and

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

The Company further believes that if it is successful in the Contempt
Proceedings, the Company may become entitled to a substantial award of actual
and/or punitive damages as well as its court costs and legal fees. In addition,
if the Defendants no longer are permitted to engage in anti-competitive
activities, the Company's ability to retain and/or obtain customers would be
materially improved. There can be no assurance that any of the above results
will be achieved within the anticipated periods, if at all, or that any damage
award will be collectible in whole or in part. If the Company's obligation to
pay legal fees should continue materially unabated in 2004, the resulting costs
could have a material adverse effect on the Company's business, prospects,
financial condition and results of operations.

With regard to the Competitor Action described in Part II, Item 1, the Company
believes that (a) the competitor's claims are without merit, (b) in any event,
the Company's counterclaims should reduce or eliminate the effect of any
recovery the competitor may obtain, and (c) even if the competitor pursues the
Competitor Action after the conclusion of the hearing in the Contempt
Proceedings, the Company's ongoing legal fees should nevertheless be materially
reduced. There can be no assurance that any of the above results will be
achieved. If the Company should be unsuccessful in defending the Competitor
Action, the resulting liability and/or costs could have a material adverse
effect on the Company's business, prospects, financial condition and results of
operations.

OFF-BALANCE SHEET ARRANGEMENTS

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


                                      -10-
<PAGE>

RESULTS OF OPERATIONS

<TABLE>
<CAPTION>
                                                 3 Months Ended September 30,
                                                2003                      2002
                                                ----                      ----
                                                   % of Total                % of Total
                                        Amount       Income       Amount       Income
                                        ------       ------       ------       ------
<S>                                   <C>            <C>        <C>            <C>
Operating revenues                    $  756,999     100.00%    $  743,614     100.00%

Operating expenses:
   Data and product costs                290,896      38.43%       357,638      48.09%
   Selling, general & administrative     620,271      81.94%       380,064      51.11%
   Depreciation and amortization          22,195       2.93%        26,569       3.57%
                                      ----------   --------     ----------    -------
     Total operating expenses            933,362     123.30%       764,271     102.78%
                                      ----------   --------     ----------    -------

Loss from operations                    (176,363)    -23.30%       (20,657)     -2.78%
Other income                               1,010       0.13%         6,197       0.83%
Interest expense                         (20,001)     -2.64%       (22,907)     -3.08%
                                      ----------   --------     ----------    -------

Loss before income taxes                (195,354)    -25.81%       (37,367)     -5.03%
Income taxes                                 282       0.04%            --         --%
                                      ----------   --------     ----------    -------

Net loss                              $ (195,636)    -25.84%    $  (37,367)     -5.03%
                                      ==========   ========     ==========    =======
</TABLE>

Operating revenues increased 2% for the three months ended September 30, 2003
compared to the same period of fiscal 2002. This increase was due to an increase
in the number of subscribers to the Company's Internet subscription service
offset in part by a decrease in subscription revenue from the Company's
third-party international credit reports.

Data and product costs decreased 19% for the third quarter of 2003 compared to
the same period of fiscal 2002. This decrease was primarily due to lower salary
and related employee benefits, resulting from a decrease in headcount, and the
lower cost of acquiring data for the Company's domestic service, due to a change
in data providers, offset in part by higher professional fees paid to outside
consultants.

Selling, general and administrative expenses increased 63% for the third quarter
of fiscal 2003 compared to the same period of fiscal 2002. This increase was
primarily due to higher legal fees incurred in connection with the Litigation as
well as higher salary and related employee benefit costs, due to an increase in
the Company's sales force during the past 12 months.

Depreciation and amortization decreased 16% for the third quarter of fiscal 2003
compared to the same period of fiscal 2002. This decrease is due to a lower
depreciable asset base as certain items have been fully depreciated but are
still in use.

Other income decreased 84% for the third quarter of fiscal 2003 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 2003 compared to
the same period of fiscal 2002. This decrease was due to a lower outstanding
promissory note balance.

The Company incurred a net loss of $196,000 and $37,000 for the three months
ended September 30, 2003 and 2002, respectively. The expenses of the Litigation
accounted for approximately 96% of the Company's net loss for the three months
ended September 30, 2003.


                                      -11-
<PAGE>

<TABLE>
<CAPTION>
                                                  9 Months Ended September 30,
                                                2003                         2002
                                                ----                         ----
                                                    % of Total                  % of Total
                                        Amount        Income        Amount        Income
                                        ------        ------        ------        ------
<S>                                   <C>             <C>        <C>               <C>
Operating revenues                    $ 2,210,493     100.00%    $ 2,323,819       100.00%

Operating expenses:
   Data and product costs                 934,580      42.28%      1,108,157        47.69%
   Selling, general & administrative    1,811,675      81.96%      1,278,405        55.01%
   Depreciation and amortization           69,469       3.14%         80,077         3.45%
                                      -----------    -------     -----------     --------
     Total operating expenses           2,815,724     127.38%      2,466,639       106.15%
                                      -----------    -------     -----------     --------

Loss from operations                     (605,231)    -27.38%       (142,820)       -6.15%
Other income                                5,428       0.25%         14,815         0.64%
Interest expense                          (61,854)     -2.80%        (70,608)       -3.04%
                                      -----------    -------     -----------     --------

Loss before income taxes                 (661,657)    -29.93%       (198,613)       -8.55%
Income taxes                                  982       0.04%          1,220         0.05%
                                      -----------    -------     -----------     --------

Net loss                              $  (662,639)    -29.98%    $  (199,833)       -8.60%
                                      ===========    =======     ===========     ========
</TABLE>

Operating revenues decreased 5% for the nine months ended September 30, 2003
compared to the same period of fiscal 2002. This decrease was primarily due to a
decrease in subscription revenue from the Company's third-party international
credit reports offset in part by higher revenues generated from an increase in
the number of subscribers to the Company's Internet subscription service.

Data and product costs decreased 16% for the first nine months of 2003 compared
to the same period of fiscal 2002. This decrease was primarily due to the lower
cost of acquiring third-party international credit reports, as the result of
lower sales volume, and lower salary and related employee benefits, resulting
from a decrease in headcount, offset in part by the higher cost of acquiring
data for the Company's domestic service due to additional content.

Selling, general and administrative expenses increased 42% for the first nine
months of fiscal 2003 compared to the same period of fiscal 2002. This increase
was primarily due to higher legal fees incurred in connection with the
Litigation as well as higher salary and related employee benefit costs, due to
an increase in the Company's sales force during the past 12 months, offset by a
reduction in marketing expenses.

Depreciation and amortization decreased 13% for the first nine months of fiscal
2003 compared to the same period of fiscal 2002. This decrease is due to a lower
depreciable asset base as certain items have been fully depreciated but are
still in use.

Other income decreased 63% for nine months ended September 30, 2003 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 2003 period compared to the same period last
year.

Interest expense decreased 12% for the first nine months of fiscal 2003 compared
to the same period of fiscal 2002. This decrease was due to a lower outstanding
promissory note balance.

The Company incurred a net loss of $663,000 and $200,000 for the nine months
ended September 30, 2003 and 2002, respectively. The expenses of the Litigation
accounted for approximately 62% of the Company's net loss for the nine months
ended September 30, 2003.


                                      -12-
<PAGE>

CRITICAL ACCOUNTING POLICIES, ESTIMATES AND JUDGMENTS

The Company's consolidated financial statements are prepared in accordance with
accounting principles that are generally accepted in the United States. The
preparation of these consolidated financial statements require management to
make estimates and judgments that affect the reported amounts of assets and
liabilities and disclosure of contingent assets and liabilities at the date of
the consolidated financial statements and the reported amounts of revenues and
expenses during the reporting period. Management bases its estimates and
judgments on historical experience and other factors that are believed to be
reasonable under the circumstances. Actual results may differ from these
estimates. Management continually evaluates its estimates and judgments, the
most critical of which are those related to:

      Revenue recognition -- CRM's domestic and international service is sold on
      a subscription basis pursuant to customer contracts that span varying
      periods of time, but are generally for a period of one year. The Company
      initially records accounts receivable and defers the related revenue when
      persuasive evidence of an arrangement exists, fees are fixed or
      determinable, and collection is reasonably assured. Revenues are
      recognized ratably over the related subscription period. Revenue from the
      Company's third-party international credit reporting service is recognized
      as information is delivered and products and services are used by
      customers.

      Valuation of goodwill -- Goodwill is reviewed for impairment annually, or
      more frequently if events or changes in circumstances warrant. If the
      carrying value of this asset exceeds its estimated fair value, the Company
      will record an impairment loss to write the asset down to its estimated
      fair value.

      Income taxes -- The Company provides for deferred income taxes resulting
      from temporary differences between financial statement and income tax
      reporting. Temporary differences are differences between the amounts of
      assets and liabilities reported for financial statement purposes and their
      tax bases. Deferred tax liabilities are recognized for temporary
      differences that will be taxable in future years' tax returns. Deferred
      tax assets are recognized for temporary differences that will be
      deductible in future years' tax returns and for operating loss and tax
      credit carryforwards. Deferred tax assets are reduced by a valuation
      allowance if it is deemed more likely than not that some or all of the
      deferred tax assets will not be realized.

FUTURE OPERATIONS

The Company, over time, intends to expand its operations by expanding the
breadth and depth of its product and service offerings and the introduction of
new or complementary products. For example, in the second quarter of 2003 the
Company introduced its new international service. Gross margins attributable to
new business areas may be lower than those associated with the Company's
existing business activities.

As a result of the Company's limited operating history and the emerging nature
of the market in which it competes, the Company'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


                                      -13-
<PAGE>

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
substantially 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, many of which are
outside the Company's control. Factors that may adversely affect the Company's
quarterly operating results include, among others, (i) the Company's ability to
retain existing customers, attract new customers at a steady rate and maintain
customer satisfaction, (ii) the Company's ability to maintain gross margins in
its existing business and in future product lines and markets, (iii) the
development of new services and products by the Company and its competitors,
(iv) price competition, (v) the level of use of the Internet and online services
and increasing acceptance of the Internet and other online services for the
purchase of products such as those offered by the Company, (vi) the Company's
ability to upgrade and develop its systems and infrastructure, (vii) the
Company's ability to attract new personnel in a timely and effective manner,
(viii) the level of traffic on the Company's Web site, (ix) the Company's
ability to manage effectively its development of new business segments and
markets, (x) the Company's ability to successfully manage the integration of
operations and technology of acquisitions or other business combinations, (xi)
technical difficulties, system downtime or Internet brownouts, (xii) the amount
and timing of operating costs and capital expenditures relating to expansion of
the Company's business, operations and infrastructure, (xiii) governmental
regulation and taxation policies, (xiv) disruptions in service by common
carriers due to strikes or otherwise, (xv) risks of fire or other casualty,
(xvi) continued litigation costs or other unanticipated expenses, and (xvii)
general economic conditions and economic conditions specific to the Internet and
online commerce.

Due to the foregoing factors and the Company's limited forecasting abilities,
the Company believes that period-to-period comparisons of its revenues and
operating results are not necessarily meaningful and should not be relied on as
an indication of future performance.


                                      -14-
<PAGE>

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 principal executive officer and principal financial officer, after
evaluating the effectiveness of the Company's disclosure controls and procedures
(as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) have concluded that,
based on such evaluation, the Company's disclosure controls and procedures were
adequate and effective as of the end of the period covered by this quarterly
report on Form 10-QSB.

There were no changes in the Company's internal control over financial
reporting, identified in connection with the evaluation of such internal control
that occurred during our last fiscal quarter, that have materially affected, or
are reasonably likely to materially affect, our internal control over financial
reporting.


                                      -15-
<PAGE>

PART II. OTHER INFORMATION

Item 1. Legal Proceedings

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 approved and so ordered by
the Court in July 2001 pursuant to which the Defendants were restricted from
engaging in certain activities; and (c) on November 27, 2001 the Company
commenced contempt proceedings (the "Contempt Proceedings") against the
Defendants in the same Court seeking monetary and punitive damages, legal costs
and injunctive relief for violation of the Settlement Agreement and the July
2001 Court order. After extensive discovery in the Contempt Proceedings, a
judicial hearing began on September 15, 2003 and is expected to conclude by year
end.

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. The
Company denied the allegations in the Competitor Action and counterclaimed
against the competitor, its President and Samuel Fensterstock. The parties
currently are engaged in discovery in connection with the Competitor Action and
a trial date is scheduled for June 2004.

See Part I, Item 2 for further information regarding the Contempt Proceedings
and the Competitor Action.

Item 2. Changes in Securities and Use of Proceeds

On August 21, 2003, the Company sold 75,000 shares of its common stock to Jerome
S. Flum, its Chairman and Chief Executive Officer, for a cash purchase price of
$8.25 ($0.00011 per share) upon his exercise of an Incentive Stock Option. On
April 1, 2002, the Company sold a like number of shares to Mr. Flum, for the
same price, upon his exercise of a like Option.

Mr. Flum is an "accredited investor", as such term is defined in Section 501 of
Regulation D under the Securities Act of 1933, as amended (the "Act"), and no
other stock options have been exercised under the Company's stock option plans
during the past three years. Accordingly, the Company believes that the sales to
Mr. Flum are exempt from registration under the Act pursuant to Section 4(2)
thereof.

Item 6. Exhibits and Reports on Form 8-K

(a)   Exhibits

      31.1  Certification of the Chief Executive Officer.

      31.2  Certification of the Chief Financial Officer.

      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.


                                      -16-
<PAGE>

(b)   Reports on Form 8-K

      None.


                                      -17-
<PAGE>

                                   SIGNATURES

In accordance with the requirements of the Exchange Act, the Registrant caused
this report to be signed on its behalf by the undersigned, thereunto duly
authorized.

                                         CREDITRISKMONITOR.COM, INC.
                                                 (REGISTRANT)


Date: November 14, 2003                   By: /s/ Lawrence Fensterstock
                                                  Lawrence Fensterstock
                                                  Chief Financial Officer


                                      -18-