Filing Analysis
CreditRiskMonitor.com, Inc. held its 2026 Annual Meeting of Stockholders on August 12, 2026. The company successfully elected four directors and ratified the appointment of CohnReznick LLP as its independent auditor for the 2026 fiscal year.
📋 Key Facts
- Annual Meeting held on August 12, 2026.
- Four directors elected: Jerome S. Flum, Lisa Reisman, Joshua M. Flum, and Lawrence Fensterstock.
- CohnReznick LLP was ratified as the independent registered public accounting firm for the fiscal year ending December 31, 2026.
- The company operates as a remote-only entity with no physical headquarters.
CreditRiskMonitor.com, Inc. has determined that previously issued financial statements for multiple periods in 2024, 2025, and early 2026 can no longer be relied upon due to unrecorded state and local tax liabilities. The company identified a material weakness in internal controls regarding the monitoring of tax nexus requirements.
🚩 Red Flags
- Non-reliance on previously issued financial statements (Item 4.02)
- Material weakness in internal control over financial reporting
- Potential delay in filing Form 10-K and Form 10-Q due to ongoing review
📋 Key Facts
- The company will restate financial statements for fiscal years ended Dec 31, 2024, and Dec 31, 2025, as well as quarterly periods ending June 30/Sept 30 2025 and March 31, 2026.
- Estimated sales tax liability (including interest) is approximately $1.767 million.
- Estimated income tax liability (including interest) is approximately $210 thousand.
- The company identified a material weakness in internal control over financial reporting related to state and local tax nexus requirements.
- Management has developed a remediation plan for the identified material weakness.
CreditRiskMonitor.com, Inc. announced the appointment of Madhav Kale as the Company's new Chief Technology Officer on September 23, 2025.
📋 Key Facts
- Appointment of Madhav Kale as Chief Technology Officer (CTO).
- Announcement date: September 23, 2025.
- The company is a remote-only entity with no physical headquarters.
CreditRiskMonitor.com, Inc. reported the results of its 2025 Annual Meeting of Stockholders held on September 18, 2025. The meeting included elections for four directors and advisory votes regarding executive compensation and auditor ratification.
📋 Key Facts
- Four directors (Jerome S. Flum, Lisa Reisman, Joshua M. Flum, and Lawrence Fensterstock) were elected to one-year terms expiring in 2026.
- Stockholders approved the compensation of named executive officers on an advisory basis.
- Stockholders ratified the appointment of CohnReznick LLP as the independent registered public accounting firm for fiscal year ending Dec 31, 2025.
- The Board determined that 'say-on-pay' advisory votes will occur every three years per shareholder preference.
CreditRiskMonitor.com, Inc. announced that Brigitte Muehlmann, PhD and CPA, will not stand for re-election to the Board of Directors effective April 25, 2025. The departure is characterized as a non-dispute resignation.
📋 Key Facts
- Brigitte Muehlmann, PhD and CPA, informed the Company she does not intend to stand for re-election to the Board of Directors.
- The decision was communicated on April 25, 2025.
- Dr. Muehlmann stated she has no disagreements with the Company requiring reporting under Item 5.02.
CreditRiskMonitor.com, Inc. reported a cybersecurity incident involving unauthorized access to its computer network between July 8 and July 17, 2024. The breach resulted in the potential exposure of personally identifiable information (PII) belonging to employees and independent contractors.
🚩 Red Flags
- Exposure of employee/contractor PII can lead to legal liabilities and increased operational costs for remediation.
- Potential for future material impact on financial results if the investigation reveals further vulnerabilities or litigation arises.
- Delayed reporting: The incident was detected in July, but notification/filing occurred in October.
📋 Key Facts
- Unauthorized network occurrence detected on July 19, 2024.
- Data breach window: July 8, 2024, to July 17, 2024.
- Impacted data includes personally identifiable information (PII) of employees and independent contractors; no customer data was compromised.
- Company is providing 24 months of free credit monitoring and identity theft protection to affected individuals.
- The company states the incident has not yet had a material impact on operations or financial condition, though it remains fluid.
CreditRiskMonitor.com, Inc. announced a significant change in its financial leadership team, appointing Jennifer Gerold as CFO and David Reiner as CAO on May 23, 2024.
🚩 Red Flags
- High turnover in key financial leadership: The new CFO (Gerold) has only been with the company for approximately three months prior to her promotion/appointment.
- Departure of long-tenured CFO Steven Gargano who had been in the role since 2020.
📋 Key Facts
- Jennifer Gerold appointed as Chief Financial Officer (CFO) effective May 23, 2024; annual salary $200,000 plus bonus/equity eligibility.
- David Reiner appointed as Chief Accounting Officer (CAO) effective May 23, 2024; annual salary $185,000 plus bonus/equity eligibility.
- Jennifer Gerold previously served as the Company's Chief Monetization Officer since February 2024 and was a Managing Director at EY from 2020 to 2024.
- David Reiner has been with the company since 2020, previously serving as VP, Corporate Controller.
- Steven Gargano departs as CFO after serving in the role since 2020.