CreditRiskMonitor Announces Second Quarter Results
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VALLEY COTTAGE, NY / ACCESSWIRE / August 10, 2023 / CreditRiskMonitor® (OTCQX:CRMZ) reported operating revenues of
Mike Flum, CEO, said, "Corporate bankruptcy filings within our coverage universe of FRISK® and PAYCE® scored businesses have almost doubled year-to-date in 2023 relative to 2022. The seven-month figure for 2023 is also
We have also accelerated our work on generative AI applications, specifically Large Language Models, with assistance from Hugging Face. There are already some specific use cases in production with more in various stages of ideation, development, and testing. Our investment in such new technologies will reinforce and support our commitment to deliver subscription services whose value exceeds their cost."
A full copy of the financial statements can be found at https://crmz.ir.edgar-online.com/
Overview
CreditRiskMonitor® (creditriskmonitor.com) sells a suite of web-based, SaaS subscription products providing access to comprehensive commercial credit reports, bankruptcy risk analytics, financial and payment information, and curated news on public and private companies worldwide. The products help corporate credit and supply chain professionals stay ahead of and manage financial risk more quickly, accurately, and cost-effectively.
The Company's newest platform, SupplyChainMonitor™, leverages its financial risk analytics expertise to create a risk management solution built specifically for procurement, supply chain, sourcing, and finance personnel involved in the supplier lifecycle, risk assessment, and ongoing risk monitoring. Users can assess counterparty risks at the aggregate and granular levels under a variety of categories including geography and industry, as well as customized, customer-specific configurations. The platform features mapping capabilities with real-time weather/natural disaster event overlays as well as customizable news notifications, reports, and charts.
Our subscribers, including nearly
The Company, through its Trade Contributor Program, receives confidential accounts receivables data from hundreds of subscribers and non-subscribers every month. This trade receivable data is parsed, processed, aggregated, and finally reported to summarize the invoice payment behavior of B2B counterparties, without disclosing the specific contributors of this information. The Trade Contributor Program's current trade credit file processes nearly
Safe Harbor Statement
Certain statements in this press release, including statements prefaced by the words "anticipates", "estimates", "believes", "expects" or words of similar meaning, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, expectations or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, including, among others, those risks, uncertainties, and factors referenced from time to time as "risk factors" or otherwise in the Company's Registration Statements or Securities and Exchange Commission Reports. We disclaim any intention or obligation to revise any forward-looking statements, whether as a result of new information, a future event, or otherwise.
CONTACT:
CreditRiskMonitor.com, Inc.
Mike Flum, CEO
(845) 230-3037
ir@creditriskmonitor.com
SOURCE: CreditRiskMonitor.com, Inc.
View source version on accesswire.com:
https://www.accesswire.com/773670/CreditRiskMonitor-Announces-Second-Quarter-Results
FAQ
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