CREDITRISKMONITOR COM INC, 10-Q/A filed on 19 Aug 26
 | XBRL Documents
v3.26.1
Document And Entity Information - shares
 3 Months Ended
Mar. 31, 2026
Aug. 19, 2026
Document Information Line Items    
Entity Central Index Key 0000315958  
Document Type 10-Q/A  
Document Quarterly Report true  
Document Period End Date Mar. 31, 2026  
Document Fiscal Year Focus 2026  
Document Transition Report false  
Entity File Number 1-8601  
Entity Registrant Name CreditRiskMonitor.com, Inc.  
Entity Incorporation, State or Country Code NV  
Entity Tax Identification Number 36-2972588  
City Area Code 845  
Local Phone Number 230-3000  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Non-accelerated Filer  
Entity Small Business true  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   10,767,501
Amendment Description As previously disclosed in the Company’s Current Report on Form 8-K filed with the SEC on August 6, 2026, the audit committee of the Company’s board of directors on August 3, 2026 concluded that (a) the Company’s previously issued unaudited condensed financial statements as of and for the quarterly periods ended (i) June 30, 2025, (ii) September 30, 2025 and 2024, and (iii) March 31, 2026 and 2025, and (b) the Company’s previously issued audited financial statements as of and for the fiscal years ended December 31, 2025 and 2024 (collectively, the “Affected Periods”), filed with the Securities and Exchange Commission (the “SEC”) in the respective Quarterly Reports on Form 10-Q for such quarterly periods and in the Annual Report on Form 10-K for such fiscal year and included in any reports, related earnings releases, or similar communications of the Company’s financial results, should no longer be relied upon and require restatement (the “Restatement”).  
Amendment Flag true  
Document Fiscal Period Focus Q1  
Current Fiscal Year End Date --12-31  
v3.26.1
CONDENSED BALANCE SHEETS - USD ($)
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 5,715,460 $ 6,248,223
Held-to-maturity securities 11,680,204 10,618,881
Accounts receivable, net of allowance for credit losses of $30,000 3,210,317 3,786,681
Other current assets 1,098,287 1,131,686
Total current assets 21,704,268 21,785,471
Held-to-maturity securities 971,000 1,997,000
Property and equipment, net 442,746 415,859
Operating lease right-of-use asset, net 76,695 84,525
Goodwill 1,954,460 1,954,460
Deferred tax assets, net 58,709 58,709
Total assets 25,207,878 26,296,024
Current liabilities:    
Unexpired subscription revenue 10,755,411 10,933,761
Accounts payable 151,184 169,988
Operating lease liability 29,859 29,364
Accrued expenses 3,189,669 4,067,617
Total current liabilities 14,126,123 15,200,730
Unexpired subscription revenue, less current portion 200,379 178,936
Operating lease liability, less current portion 46,836 55,161
Total liabilities 14,373,338 15,434,827
Stockholders’ equity:    
Preferred stock, $.01 par value; authorized 5,000,000 shares; none issued 0 0
Common stock, $.01 par value; authorized 32,500,000 shares; issued and outstanding 10,767,501 shares 107,675 107,675
Additional paid-in capital 30,326,362 30,300,696
Accumulated deficit (19,599,497) (19,547,174)
Total stockholders’ equity 10,834,540 10,861,197
Total liabilities and stockholders’ equity $ 25,207,878 $ 26,296,024
v3.26.1
CONDENSED BALANCE SHEETS (Parentheticals) - USD ($)
Mar. 31, 2026
Dec. 31, 2025
CONDENSED BALANCE SHEETS [Abstract]    
Accounts receivable, allowance for credit losses $ 30,000 $ 30,000
Preferred stock, par value (in Dollars per share) $ 0.01 $ 0.01
Preferred stock, authorized (in Shares) 5,000,000 5,000,000
Preferred stock, issued (in Shares) 0 0
Common stock, par value (in Dollars per share) $ 0.01 $ 0.01
Common stock, authorized (in Shares) 32,500,000 32,500,000
Common stock, issued (in Shares) 10,767,501 10,767,501
Common stock, outstanding (in Shares) 10,767,501 10,767,501
v3.26.1
CONDENSED STATEMENTS OF OPERATIONS - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
CONDENSED STATEMENTS OF OPERATIONS [Abstract]    
Operating revenues $ 4,986,878 $ 4,871,412
Operating expenses:    
Data and product costs 2,520,905 2,283,374
Selling, general and administrative expenses 2,627,637 2,613,546
Depreciation and amortization 53,820 85,720
Total operating expenses 5,202,362 4,982,640
Loss from operations (215,484) (111,228)
Other income, net 140,674 157,867
(Loss) income before income taxes (74,810) 46,639
Benefit (provision) for income taxes 22,487 (54,448)
Net loss $ (52,323) $ (7,809)
Net loss per share - Basic (in Dollars per share) $ 0 $ 0
Net loss per share - Diluted (in Dollars per share) $ 0 $ 0
Weighted average number of common shares outstanding    
Basic (in Shares) 10,767,501 10,722,401
Diluted (in Shares) 10,767,501 10,722,401
v3.26.1
CONDENSED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($)
Common Stock [Member]
Additional Paid-in Capital [Member]
Accumulated Deficit [Member]
Total
Balance at Dec. 31, 2024 $ 107,224 $ 30,106,731 $ (20,058,335) $ 10,155,620
Balance (in Shares) at Dec. 31, 2024 10,722,401      
Net loss $ 0 0 (7,809) (7,809)
Stock-based compensation 0 27,285 0 27,285
Balance at Mar. 31, 2025 $ 107,224 30,134,016 (20,066,144) 10,175,096
Balance (in Shares) at Mar. 31, 2025 10,722,401      
Balance at Dec. 31, 2025 $ 107,675 30,300,696 (19,547,174) $ 10,861,197
Balance (in Shares) at Dec. 31, 2025 10,767,501     10,767,501
Net loss $ 0 0 (52,323) $ (52,323)
Stock-based compensation 0 25,666 0 25,666
Balance at Mar. 31, 2026 $ 107,675 $ 30,326,362 $ (19,599,497) $ 10,834,540
Balance (in Shares) at Mar. 31, 2026 10,767,501     10,767,501
v3.26.1
CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net loss $ (52,323) $ (7,809)
Adjustments to reconcile net loss to net cash used by operating activities:    
Amortization of bond discount (35,323) (53,499)
Depreciation and amortization 53,820 85,720
Stock-based compensation 25,666 27,285
Changes in operating assets and liabilities:    
Accounts receivable, net 576,364 (265,932)
Other current assets 33,399 (127,090)
Unexpired subscription revenue (156,907) 237,412
Accounts payable (18,804) (131,262)
Accrued expenses (877,948) (602,412)
Net cash used in operating activities (452,056) (837,587)
Cash flows from investing activities:    
Proceeds from held-to-maturity securities 0 985,000
Purchase of held-to-maturity securities 0 (978,691)
Purchase of property and equipment (80,707) (6,000)
Net cash (used in) provided by investing activities (80,707) 309
Net decrease in cash and cash equivalents (532,763) (837,278)
Cash and cash equivalents at beginning of period 6,248,223 6,674,473
Cash and cash equivalents at end of period $ 5,715,460 $ 5,837,195
v3.26.1
Overview and Basis of Presentation
 3 Months Ended
Mar. 31, 2026
Overview and Basis of Presentation [Abstract]  
Overview and Basis of Presentation
(1) Overview and Basis of Presentation
 
CreditRiskMonitor.com, Inc. (the “Company” or “CreditRiskMonitor.com”) provides interactive business-to-business Software-as-a-Service (“SaaS”) subscription products designed specifically for credit and supply chain risk managers. These products are sold predominantly to corporations located in the United States.
 
The accompanying unaudited condensed financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Certain information and footnote disclosures required by generally accepted accounting principles (“GAAP”) in the United States for complete financial statements have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). In the opinion of management, the accompanying unaudited condensed financial statements reflect all material adjustments, including normal recurring accruals, necessary to present fairly the Company’s financial position, results of operations and cash flows for the periods presented, and have been prepared in a manner consistent with the audited financial statements for the fiscal year ended December 31, 2025.
 
The results of operations for the three months ended March 31, 2026 and 2025 are not necessarily indicative of the results for an entire fiscal year.
 
The December 31, 2025 condensed balance sheet has been derived from the audited financial statements at that date, but does not include all disclosures required by GAAP for complete financial statements. These condensed financial statements should be read in conjunction with the audited financial statements and the footnotes for the fiscal year ended December 31, 2025 included in the Company’s Annual Report on Form 10-K/A.
v3.26.1
Restatement of Previously Issued Financial Statements
 3 Months Ended
Mar. 31, 2026
Restatement of Previously Issued Financial Statements [Abstract]  
Restatement of Previously Issued Financial Statements
(2) Restatement of Previously Issued Financial Statements
 
In connection with a nexus study conducted with an external tax advisor, the Company’s management identified errors in previously issued financial statements. Management prepared a quantitative and qualitative analysis of the errors described below, in accordance with the SEC Staff's Accounting Bulletin ("SAB") Nos. 99 Materiality and No. 108, Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements, and concluded the aggregate impact of all the errors is material to the Company's previously reported financial statements as of and for the three months ended March 31, 2026 and 2025. As a result, the Company’s management and the Audit Committee of the Company’s Board of Directors concluded that it is appropriate to restate the Company’s previously issued unaudited condensed financial statements as of and for the three months ended March 31, 2026 and 2025, as previously reported in its Form 10-Q.
 
The accompanying condensed financial statements as of and for the three months ended March 31, 2026 and 2025 have been restated from amounts previously reported. The restated classification and reported values of the errors noted from the nexus study are included in the condensed financial statements herein. The Company has also restated related amounts within the accompanying footnotes to the condensed financial statements to conform to the corrected amounts in the condensed financial statements.
 
Description of Restatement Errors
 
Based on a nexus study, the Company determined that it had economic and physical nexus in state and local jurisdictions where it historically had not been collecting and remitting sales and use tax and filing income taxes. As a result, the Company concluded that it had a historical state sales and use tax liability and income tax liability related to prior periods. The Company subsequently pursued Voluntary Disclosure Agreements (“VDAs”) to address this liability and to mitigate future exposure based on counsel of its tax advisor.
 
The liability includes an estimate for each state, to account for any interest that is due on the base tax amount owed. The error resulted in an understatement of accrued expenses for state and local sales tax and income tax, including related interest in the previously issued financial statements as of and for the three months ended March 31, 2026 and 2025. As a result of correcting this liability, selling, general and administrative expenses; income tax expense; and interest expense were increased in the affected periods. The underlying sales tax obligations are appropriately recognized and the Company is in various stages of VDA review, submission, acceptance and payment with the states impacted. The Company has subsequently engaged an independent third party provider of automated sales tax solutions to support with compliance through continuous identification, monitoring and evaluation of our transaction activity and physical presence.
Financial Statements - Restatement Reconciliation Tables
 
In accordance with Accounting Standards Codification ("ASC") 250, Accounting Changes and Error Corrections, the Company has corrected this error by restating previously issued financial statements.
 
The following tables summarize the effect of the restatement on each financial statement line item as of the dates, and for the periods indicated. The amounts in the "As Restated" columns are the updated amounts including the impacts from the restatement. Financial statement line items and subtotals that were not impacted by the restatement adjustments have been omitted for enhanced clarity.
 
Balance Sheet – as of December 31, 2025:
 
             
    As Previously Reported     Adjustment     As Restated  
                
Deferred tax assets, net  $ —    $58,709   $58,709 
Total assets   26,237,315    58,709    26,296,024 
                
Accrued expenses   2,160,366    1,907,251    4,067,617 
Total current liabilities   13,293,479    1,907,251    15,200,730 
Deferred tax liabilities, net   355,646    (355,646)     -  
Total liabilities   13,883,222    1,551,605    15,434,827 
                
Accumulated deficit   (18,054,278)    (1,492,896)    (19,547,174) 
Total stockholders’ equity  $12,354,093   $(1,492,896)   $10,861,197 
 
Balance Sheet – as of March 31, 2026:
 
             
    As Previously Reported       Adjustment       As Restated  
                
Deferred tax assets, net
 $—    $58,709   $58,709 
Total assets
  25,149,169    58,709    25,207,878 
                
Accrued expenses
  1,171,783    2,017,886    3,189,669 
Total current liabilities
  12,108,237    2,017,886    14,126,123 
Deferred tax liabilities, net
  355,646    (355,646)     -  
Total liabilities
  12,711,098    1,662,240    14,373,338 
                
Accumulated deficit
  (17,995,966)    (1,603,531)    (19,599,497) 
Total stockholders’ equity
 $12,438,071   $(1,603,531)   $10,834,540 
 
Statement of Operations – Three Months Ended March 31, 2026:
 
             
    As Previously Reported     Adjustment     As Restated  
                
Selling, general, and administrative expenses
 $2,505,880   $121,757   $2,627,637 
Total operating expenses
  5,080,605    121,757    5,202,362 
Loss from operations
  (93,727)    (121,757)    (215,484) 
Other income, net
  169,803    (29,129)    140,674 
Income (loss) before income taxes
  76,076    (150,886)    (74,810) 
Benefit (provision) for income taxes
  (17,764)    40,251    22,487 
Net income (loss)
  58,312    (110,635)    (52,323) 
                
Net income (loss) per share – Basic and diluted
 $0.01   $(0.01)   $-  
Statement of Operations – Three Months Ended March 31, 2025:
 
             
    As Previously Reported     Adjustment     As Restated  
                
Selling, general, and administrative expenses
 $2,476,951   $136,595   $2,613,546 
Total operating expenses
  4,846,045    136,595    4,982,640 
Income from operations
  25,367    (136,595)    (111,228) 
Other income, net
  180,833    (22,966)    157,867 
Income before income taxes
  206,200    (159,561)    46,639 
Provision for income taxes
  (47,138)    (7,310)    (54,448) 
Net income (loss)
  159,062    (166,871)    (7,809) 
                
Net income (loss) per share – Basic and diluted
 $0.01   $(0.01)   $-  
 
Statements of Stockholders' Equity – Three Months Ended March 31, 2026:
 
             
    As Previously Reported     Adjustment     As Restated  
                
Balance as of January 1, 2026
              
Accumulated deficit
 $(18,054,278)   $(1,492,896)   $(19,547,174) 
Total stockholders’ equity
  12,354,093    (1,492,896)    10,861,197 
                
Balance as of March 31, 2026
              
Accumulated deficit
 $(17,995,966)   $(1,603,531)   $(19,599,497) 
Total stockholders’ equity
  12,438,071    (1,603,531)    10,834,540 
 
No other components of stockholders' equity, including preferred stock, common stock and additional paid-in capital, were affected by this restatement.
 
Statements of Stockholders' Equity – Three Months Ended March 31, 2025:
 
             
    As Previously Reported     Adjustment     As Restated  
                
Balance as of January 1, 2025
              
Accumulated deficit
 $(19,072,209)   $(986,126)   $(20,058,335) 
Total stockholders’ equity
  11,141,746    (986,126)    10,155,620 
                
Balance as of March 31, 2025
              
Accumulated deficit
 $(18,913,147)   $(1,152,997)   $(20,066,144) 
Total stockholders’ equity
  11,328,093    (1,152,997)    10,175,096 
 
No other components of stockholders' equity, including preferred stock, common stock and additional paid-in capital, were affected by this restatement.
 
Statements of Cash Flows – Three Months Ended March 31, 2026:
 
             
    As Previously Reported     Adjustment     As Restated  
                
Cash flows from operating activities:               
   Net income (loss)  $58,312   $(110,635)   $(52,323) 
                
Changes in operating assets and liabilities:               
Accrued expenses   (988,583)    110,635    (877,948) 
Statements of Cash Flows – Three Months Ended March 31, 2025:
 
             
    As Previously Reported         Adjustment         As Restated  
                
Cash flows from operating activities:               
   Net income (loss)  $159,062   $(166,871)   $(7,809) 
                
Changes in operating assets and liabilities:               
     Accrued expenses   (769,283)    166,871    (602,412) 
v3.26.1
Recently Issued Accounting Standards
 3 Months Ended
Mar. 31, 2026
Recently Issued Accounting Standards [Abstract]  
Recently Issued Accounting Standards
(3) Recently Issued Accounting Standards
 
In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”), which provides for improvements to income tax disclosures primarily related to rate reconciliation and income taxes paid by jurisdiction. The Company adopted ASU 2023-09 on a prospective basis effective January 1, 2025 and the adoption of this update did not have a significant impact on the Company’s financial statements.
 
In November 2024, the FASB issued ASU 2024-03, Income Statement–Reporting Comprehensive Income–Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (“ASU 2024-03”), to improve disclosures about a public entity’s expenses by requiring disclosure of additional information about the types of expenses commonly presented in the financial statements on an annual and interim basis. This guidance will be effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. The Company is currently evaluating the impact of adoption of this pronouncement on its financial statements.
v3.26.1
Revenue Recognition
 3 Months Ended
Mar. 31, 2026
Revenue Recognition [Abstract]  
Revenue Recognition
(4) Revenue Recognition
 
The Company applies FASB Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers (Topic 606) (“ASC 606”), to recognize revenue. ASC 606 requires an entity to apply the following five-step approach: (1) identify the contract(s) with a customer; (2) identify each performance obligation in the contract; (3) determine the transaction price; (4) allocate the transaction price to each performance obligation; and (5) recognize revenue when or as each performance obligation is satisfied. The Company’s primary source of revenue is subscription income which is recognized ratably over the subscription term.
v3.26.1
Stock-Based Compensation
 3 Months Ended
Mar. 31, 2026
Stock-Based Compensation [Abstract]  
Stock-Based Compensation
(5) Stock-Based Compensation
 
The Company applies ASC 718, Compensation–Stock Compensation (Topic 718) (“ASC 718”), to account for stock-based compensation.
 
The table below summarizes the stock-based compensation expense for stock options that was recorded in the Company’s results of operations in accordance with ASC 718 for the three months ended March 31, 2026 and 2025, respectively, as follows:
 
         
    3 Months Ended    
    March 31,    
    2026     2025  
           
Data and product costs
 $9,319   $8,546 
Selling, general and administrative expenses
  16,347    18,739 
           
   $25,666   $27,285 
v3.26.1
Fair Value Measurements
 3 Months Ended
Mar. 31, 2026
Fair Value Measurements [Abstract]  
Fair Value Measurements
(6) Fair Value Measurements
 
The Company’s cash, cash equivalents and marketable securities are stated at amortized cost, which approximate fair value. The carrying values of accounts receivable, other current assets, accounts payable, and accrued expenses approximate fair market value because of the short maturity of these financial instruments.
The Company’s cash equivalents are generally classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices.
 
All held-to-maturity securities as of March 31, 2026 and December 31, 2025 were U.S. Treasury securities. Investments in these government securities are based on quoted market prices in active markets, and are included in the Level 1 fair value hierarchy.
 
The tables below set forth the Company’s cash and cash equivalents, as well as marketable securities as of March 31, 2026 and December 31, 2025, respectively, which are measured at fair value on a recurring basis by level within the fair value hierarchy.
 
                 
    March 31, 2026  
    Level 1     Level 2     Level 3     Total  
Cash and cash equivalents
 $5,715,460   $ −    $ −    $5,715,460 
Held-to-maturity securities
  12,651,204     −      −     12,651,204 
   $18,366,664   $ −    $ −    $18,366,664 
 
                 
    December 31, 2025    
    Level 1     Level 2     Level 3     Total  
                     
Cash and cash equivalents
 $6,248,223   $ −    $ −    $6,248,223 
Held-to-maturity securities
  12,615,881     −      −     12,615,881 
   $18,864,104   $ −    $ −    $18,864,104 
 
The Company did not hold financial assets and liabilities which were recorded at fair value in the Level 2 or 3 categories as of March 31, 2026 or December 31, 2025, respectively.
 
The preceding methods may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, although the Company believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.
v3.26.1
Marketable Securities
 3 Months Ended
Mar. 31, 2026
Marketable Securities [Abstract]  
Marketable Securities
(7) Marketable Securities
 
Based upon the Company’s intent and ability to hold its U.S. Treasury securities to maturity, such securities have been classified as held-to-maturity and are carried at amortized cost, which approximates fair market value. Maturities on these U.S. Treasury security holdings range from 19 to 25 months from the date of purchase. Accrued bond interest receivable as of March 31, 2026 and December 31, 2025 was $96,197 and $97,024, respectively, and is included in other current assets on the Condensed Balance Sheets.
 
The tables below summarize the Company’s cost and fair value of marketable securities as of March 31, 2026 and December 31, 2025, respectively, as follows:
 
             
    March 31, 2026  
    Amortized Cost     Gross Unrealized Gain     Fair Value  
Held-to-maturity securities
              
U.S. Treasury securities
 $12,651,204   $37,796   $12,689,000 
 
             
    December 31, 2025      
    Amortized Cost     Gross Unrealized Gain     Fair Value  
Held-to-maturity securities
              
U.S. Treasury securities
 $12,615,881   $73,119   $12,689,000 
Maturities of marketable securities as of March 31, 2026 and December 31, 2025, respectively, are as follows:
 
               
    March 31,
2026 		 
 December 31,
2025		 
               
Held-to-maturity securities:
             
Due in one year or less
  $ 11,680,204    $ 10,618,881 
Due in 12 – 24 months
    971,000      1,997,000 
               
    $ 12,651,204    $ 12,615,881 
 
The Company’s investments in marketable securities consist of investments in U.S. Treasury securities. Market values were determined for each individual security in the investment portfolio.
 
Management evaluates securities for other-than-temporary impairment at least on an annual basis, and more frequently when economic or market concerns warrant such evaluation. Consideration is given to (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, and (3) the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. Management has determined that no other-than-temporary impairment exists as of March 31, 2026.
v3.26.1
Net Loss per Share
 3 Months Ended
Mar. 31, 2026
Net Loss per Share [Abstract]  
Net Loss per Share
(8) Net Loss per Share
 
Basic net income per share is based on the weighted average number of common shares outstanding. Diluted net income per share is based on the weighted average number of common shares outstanding and the dilutive effect of outstanding stock options.
 
               
    3 Months Ended
  March 31,  		 
     2026     2025  
               
Weighted average common shares outstanding – basic
   10,767,501      10,722,401  
Potential shares exercisable under stock option plans
   −      −  
Less: Shares which could be repurchased under treasury stock method
   −      −  
               
Weighted average common shares outstanding – diluted
   10,767,501      10,722,401  
 
For the three months ended March 31, 2026, diluted net loss per share is the same as basic net loss per share because the effect of potential common shares was anti-dilutive due to the net loss reported for the period.
 
For the three months ended March 31, 2025, diluted net loss per share is the same as basic net loss per share because the effect of potential common shares was anti-dilutive due to the net loss reported for the period.
v3.26.1
Commitments and Contingencies
 3 Months Ended
Mar. 31, 2026
Commitments and Contingencies [Abstract]  
Commitments and Contingencies
(9) Commitments and Contingencies
 
From time to time, the Company is involved in various legal proceedings arising in the ordinary course of business. The Company records a liability when it believes that a loss will be incurred and the amount of loss or range of loss can be reasonably estimated. Based on the currently available information, the Company does not believe that there are claims or legal proceedings that would have a material adverse effect on the business, or the condensed financial statements of the Company.
v3.26.1
Segment Reporting
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment Reporting
(10) Segment Reporting
 
The Company has a single operating and reportable segment: SaaS subscription products. This segment includes add-ons and enhancements that can only be accessed with an active base subscription to its SaaS subscription products. The products are used mainly by subscribers to analyze commercial financial risk for the purpose of extending trade credit, evaluating supply chains, and managing the counterparty risk associated with these relationships.
 
The Company’s chief operating decision maker (“CODM”) is its Chief Executive Officer and President. The CODM makes operating decisions, assesses performance and allocates resources using the entity-wide revenue and expense information reported on the Condensed Statements of Operations and the more detailed significant expense categories disclosed in the table below. The primary measure of segment profit is net income as reported on the Condensed Statements of Operations.
                 
    3 Months Ended
March 31,  		 
    2026
(As Restated) 		    2025
(As Restated) 		 
                 
Segment operating revenues
  $ 4,986,878     $ 4,871,412  
                 
Less: Significant segment expenses
               
Data and product costs
               
Employee expenses
    1,700,701       1,498,114  
Data feed expenses
    522,623       534,901  
Hosting and computer services expenses
    150,198       58,714  
Other data and product costs
    147,383       191,645  
Data and product costs subtotal
    2,520,905       2,283,374  
                 
Selling, general and administrative expenses
               
Employee expenses
    1,868,786       1,914,112  
Professional fee expenses
    331,945       103,106  
Marketing expenses
    168,954       208,791  
Occupancy expenses (1)
    10,183       110,344  
Other general and administrative expenses
    247,769       277,193  
Selling, general and administrative expenses subtotal
    2,627,637       2,613,546  
                 
Other significant segment items
               
Depreciation and amortization
    53,820       85,720  
Other (income), net
    (140,674 )      (157,867 ) 
Provision (benefit) for income taxes
    (22,487 )      54,448  
                 
Segment net loss
  $ (52,323 )    $ (7,809 ) 
 
(1) Prior to the expiration of the Company’s leased office space on July 31, 2025, occupancy expenses included rent, utilities, repairs, and office supplies. Post expiration, occupancy expenses included the rental of virtual office space for Company meetings.
v3.26.1
Insider Trading Arrangements
 3 Months Ended
Mar. 31, 2026
Trading Arrangements, by Individual [Table]  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.26.1
Restatement of Previously Issued Financial Statements (Tables)
 3 Months Ended
Mar. 31, 2026
Restatement of Previously Issued Financial Statements [Abstract]  
Financial Statements - Restatement Reconciliation Tables
The following tables summarize the effect of the restatement on each financial statement line item as of the dates, and for the periods indicated. The amounts in the "As Restated" columns are the updated amounts including the impacts from the restatement. Financial statement line items and subtotals that were not impacted by the restatement adjustments have been omitted for enhanced clarity.
 
Balance Sheet – as of December 31, 2025:
 
             
    As Previously Reported     Adjustment     As Restated  
                
Deferred tax assets, net  $ —    $58,709   $58,709 
Total assets   26,237,315    58,709    26,296,024 
                
Accrued expenses   2,160,366    1,907,251    4,067,617 
Total current liabilities   13,293,479    1,907,251    15,200,730 
Deferred tax liabilities, net   355,646    (355,646)     -  
Total liabilities   13,883,222    1,551,605    15,434,827 
                
Accumulated deficit   (18,054,278)    (1,492,896)    (19,547,174) 
Total stockholders’ equity  $12,354,093   $(1,492,896)   $10,861,197 
 
Balance Sheet – as of March 31, 2026:
 
             
    As Previously Reported       Adjustment       As Restated  
                
Deferred tax assets, net
 $—    $58,709   $58,709 
Total assets
  25,149,169    58,709    25,207,878 
                
Accrued expenses
  1,171,783    2,017,886    3,189,669 
Total current liabilities
  12,108,237    2,017,886    14,126,123 
Deferred tax liabilities, net
  355,646    (355,646)     -  
Total liabilities
  12,711,098    1,662,240    14,373,338 
                
Accumulated deficit
  (17,995,966)    (1,603,531)    (19,599,497) 
Total stockholders’ equity
 $12,438,071   $(1,603,531)   $10,834,540 
 
Statement of Operations – Three Months Ended March 31, 2026:
 
             
    As Previously Reported     Adjustment     As Restated  
                
Selling, general, and administrative expenses
 $2,505,880   $121,757   $2,627,637 
Total operating expenses
  5,080,605    121,757    5,202,362 
Loss from operations
  (93,727)    (121,757)    (215,484) 
Other income, net
  169,803    (29,129)    140,674 
Income (loss) before income taxes
  76,076    (150,886)    (74,810) 
Benefit (provision) for income taxes
  (17,764)    40,251    22,487 
Net income (loss)
  58,312    (110,635)    (52,323) 
                
Net income (loss) per share – Basic and diluted
 $0.01   $(0.01)   $-  
Statement of Operations – Three Months Ended March 31, 2025:
 
             
    As Previously Reported     Adjustment     As Restated  
                
Selling, general, and administrative expenses
 $2,476,951   $136,595   $2,613,546 
Total operating expenses
  4,846,045    136,595    4,982,640 
Income from operations
  25,367    (136,595)    (111,228) 
Other income, net
  180,833    (22,966)    157,867 
Income before income taxes
  206,200    (159,561)    46,639 
Provision for income taxes
  (47,138)    (7,310)    (54,448) 
Net income (loss)
  159,062    (166,871)    (7,809) 
                
Net income (loss) per share – Basic and diluted
 $0.01   $(0.01)   $-  
 
Statements of Stockholders' Equity – Three Months Ended March 31, 2026:
 
             
    As Previously Reported     Adjustment     As Restated  
                
Balance as of January 1, 2026
              
Accumulated deficit
 $(18,054,278)   $(1,492,896)   $(19,547,174) 
Total stockholders’ equity
  12,354,093    (1,492,896)    10,861,197 
                
Balance as of March 31, 2026
              
Accumulated deficit
 $(17,995,966)   $(1,603,531)   $(19,599,497) 
Total stockholders’ equity
  12,438,071    (1,603,531)    10,834,540 
Statements of Stockholders' Equity – Three Months Ended March 31, 2025:
 
             
    As Previously Reported     Adjustment     As Restated  
                
Balance as of January 1, 2025
              
Accumulated deficit
 $(19,072,209)   $(986,126)   $(20,058,335) 
Total stockholders’ equity
  11,141,746    (986,126)    10,155,620 
                
Balance as of March 31, 2025
              
Accumulated deficit
 $(18,913,147)   $(1,152,997)   $(20,066,144) 
Total stockholders’ equity
  11,328,093    (1,152,997)    10,175,096 
Statements of Cash Flows – Three Months Ended March 31, 2026:
 
             
    As Previously Reported     Adjustment     As Restated  
                
Cash flows from operating activities:               
   Net income (loss)  $58,312   $(110,635)   $(52,323) 
                
Changes in operating assets and liabilities:               
Accrued expenses   (988,583)    110,635    (877,948) 
Statements of Cash Flows – Three Months Ended March 31, 2025:
 
             
    As Previously Reported         Adjustment         As Restated  
                
Cash flows from operating activities:               
   Net income (loss)  $159,062   $(166,871)   $(7,809) 
                
Changes in operating assets and liabilities:               
     Accrued expenses   (769,283)    166,871    (602,412) 
v3.26.1
Stock-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2026
Stock-Based Compensation [Abstract]  
Stock-based Compensation Expense for Stock Options
The table below summarizes the stock-based compensation expense for stock options that was recorded in the Company’s results of operations in accordance with ASC 718 for the three months ended March 31, 2026 and 2025, respectively, as follows:
 
         
    3 Months Ended    
    March 31,    
    2026     2025  
           
Data and product costs
 $9,319   $8,546 
Selling, general and administrative expenses
  16,347    18,739 
           
   $25,666   $27,285 
v3.26.1
Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2026
Fair Value Measurements [Abstract]  
Cash and Cash Equivalents and Marketable Securities Measured at Fair Value on Recurring Basis
The tables below set forth the Company’s cash and cash equivalents, as well as marketable securities as of March 31, 2026 and December 31, 2025, respectively, which are measured at fair value on a recurring basis by level within the fair value hierarchy.
 
                 
    March 31, 2026  
    Level 1     Level 2     Level 3     Total  
Cash and cash equivalents
 $5,715,460   $ −    $ −    $5,715,460 
Held-to-maturity securities
  12,651,204     −      −     12,651,204 
   $18,366,664   $ −    $ −    $18,366,664 
 
                 
    December 31, 2025    
    Level 1     Level 2     Level 3     Total  
                     
Cash and cash equivalents
 $6,248,223   $ −    $ −    $6,248,223 
Held-to-maturity securities
  12,615,881     −      −     12,615,881 
   $18,864,104   $ −    $ −    $18,864,104 
v3.26.1
Marketable Securities (Tables)
 3 Months Ended
Mar. 31, 2026
Marketable Securities [Abstract]  
Cost and Fair Value of Marketable Securities
The tables below summarize the Company’s cost and fair value of marketable securities as of March 31, 2026 and December 31, 2025, respectively, as follows:
 
             
    March 31, 2026  
    Amortized Cost     Gross Unrealized Gain     Fair Value  
Held-to-maturity securities
              
U.S. Treasury securities
 $12,651,204   $37,796   $12,689,000 
 
             
    December 31, 2025      
    Amortized Cost     Gross Unrealized Gain     Fair Value  
Held-to-maturity securities
              
U.S. Treasury securities
 $12,615,881   $73,119   $12,689,000 
Maturities of Marketable Securities
Maturities of marketable securities as of March 31, 2026 and December 31, 2025, respectively, are as follows:
 
               
    March 31,
2026 		 
 December 31,
2025		 
               
Held-to-maturity securities:
             
Due in one year or less
  $ 11,680,204    $ 10,618,881 
Due in 12 – 24 months
    971,000      1,997,000 
               
    $ 12,651,204    $ 12,615,881 
v3.26.1
Net Loss per Share (Tables)
 3 Months Ended
Mar. 31, 2026
Net Loss per Share [Abstract]  
Computation of Basic and Diluted Net Income per Share
Basic net income per share is based on the weighted average number of common shares outstanding. Diluted net income per share is based on the weighted average number of common shares outstanding and the dilutive effect of outstanding stock options.
 
               
    3 Months Ended
  March 31,  		 
     2026     2025  
               
Weighted average common shares outstanding – basic
   10,767,501      10,722,401  
Potential shares exercisable under stock option plans
   −      −  
Less: Shares which could be repurchased under treasury stock method
   −      −  
               
Weighted average common shares outstanding – diluted
   10,767,501      10,722,401  
v3.26.1
Segment Reporting (Tables)
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment Financial Information of Reportable Segments The CODM makes operating decisions, assesses performance and allocates resources using the entity-wide revenue and expense information reported on the Condensed Statements of Operations and the more detailed significant expense categories disclosed in the table below. The primary measure of segment profit is net income as reported on the Condensed Statements of Operations.
                 
    3 Months Ended
March 31,  		 
    2026
(As Restated) 		    2025
(As Restated) 		 
                 
Segment operating revenues
  $ 4,986,878     $ 4,871,412  
                 
Less: Significant segment expenses
               
Data and product costs
               
Employee expenses
    1,700,701       1,498,114  
Data feed expenses
    522,623       534,901  
Hosting and computer services expenses
    150,198       58,714  
Other data and product costs
    147,383       191,645  
Data and product costs subtotal
    2,520,905       2,283,374  
                 
Selling, general and administrative expenses
               
Employee expenses
    1,868,786       1,914,112  
Professional fee expenses
    331,945       103,106  
Marketing expenses
    168,954       208,791  
Occupancy expenses (1)
    10,183       110,344  
Other general and administrative expenses
    247,769       277,193  
Selling, general and administrative expenses subtotal
    2,627,637       2,613,546  
                 
Other significant segment items
               
Depreciation and amortization
    53,820       85,720  
Other (income), net
    (140,674 )      (157,867 ) 
Provision (benefit) for income taxes
    (22,487 )      54,448  
                 
Segment net loss
  $ (52,323 )    $ (7,809 ) 
 
(1) Prior to the expiration of the Company’s leased office space on July 31, 2025, occupancy expenses included rent, utilities, repairs, and office supplies. Post expiration, occupancy expenses included the rental of virtual office space for Company meetings.
v3.26.1
Restatement of Previously Issued Financial Statements - Financial Statements - Restatement Reconciliation Tables (Details) - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Dec. 31, 2025
Restatement of Previously Issued Financial Statements [Abstract]      
Deferred tax assets, net $ 58,709   $ 58,709
Total assets 25,207,878   26,296,024
Accrued expenses 3,189,669   4,067,617
Total current liabilities 14,126,123   15,200,730
Total liabilities 14,373,338   15,434,827
Accumulated deficit (19,599,497) $ (20,066,144) (19,547,174)
Total stockholders’ equity 10,834,540 10,175,096 10,861,197
Selling, general, and administrative expenses 2,627,637 2,613,546  
Total operating expenses 5,202,362 4,982,640  
(Loss) income from operations (215,484) (111,228)  
Other income, net 140,674 157,867  
(Loss) income before income taxes (74,810) 46,639  
Benefit (provision) for income taxes 22,487 (54,448)  
Net loss $ (52,323) $ (7,809)  
Net income (loss) per share – Basic (in Dollars per share) $ 0 $ 0  
Net income (loss) per share – Diluted (in Dollars per share) $ 0 $ 0  
Accumulated deficit $ (19,547,174) $ (20,058,335)  
Balance 10,861,197 10,155,620  
Accumulated deficit (19,599,497) (20,066,144)  
Balance 10,834,540 10,175,096  
Cash flows from operating activities:      
Net income (loss) (52,323) (7,809)  
Changes in operating assets and liabilities:      
Accrued expenses (877,948) (602,412)  
Deferred Tax Assets, Net [Member]      
Restatement of Previously Issued Financial Statements [Abstract]      
Deferred tax liabilities, net 0   0
As Previously Reported [Member]      
Restatement of Previously Issued Financial Statements [Abstract]      
Deferred tax assets, net 0   0
Total assets 25,149,169   26,237,315
Accrued expenses 1,171,783   2,160,366
Total current liabilities 12,108,237   13,293,479
Total liabilities 12,711,098   13,883,222
Accumulated deficit (17,995,966) (18,913,147) (18,054,278)
Total stockholders’ equity 12,438,071 11,328,093 12,354,093
Selling, general, and administrative expenses 2,505,880 2,476,951  
Total operating expenses 5,080,605 4,846,045  
(Loss) income from operations (93,727) 25,367  
Other income, net 169,803 180,833  
(Loss) income before income taxes 76,076 206,200  
Benefit (provision) for income taxes (17,764) (47,138)  
Net loss $ 58,312 $ 159,062  
Net income (loss) per share – Basic (in Dollars per share) $ 0.01 $ 0.01  
Net income (loss) per share – Diluted (in Dollars per share) $ 0.01 $ 0.01  
Accumulated deficit $ (18,054,278) $ (19,072,209)  
Balance 12,354,093 11,141,746  
Accumulated deficit (17,995,966) (18,913,147)  
Balance 12,438,071 11,328,093  
Cash flows from operating activities:      
Net income (loss) 58,312 159,062  
Changes in operating assets and liabilities:      
Accrued expenses (988,583) (769,283)  
As Previously Reported [Member] | Deferred Tax Assets, Net [Member]      
Restatement of Previously Issued Financial Statements [Abstract]      
Deferred tax liabilities, net 355,646   355,646
Adjustment [Member]      
Restatement of Previously Issued Financial Statements [Abstract]      
Deferred tax assets, net 58,709   58,709
Total assets 58,709   58,709
Accrued expenses 2,017,886   1,907,251
Total current liabilities 2,017,886   1,907,251
Total liabilities 1,662,240   1,551,605
Accumulated deficit (1,603,531) (1,152,997) (1,492,896)
Total stockholders’ equity (1,603,531) (1,152,997) (1,492,896)
Selling, general, and administrative expenses 121,757 136,595  
Total operating expenses 121,757 136,595  
(Loss) income from operations (121,757) (136,595)  
Other income, net (29,129) (22,966)  
(Loss) income before income taxes (150,886) (159,561)  
Benefit (provision) for income taxes 40,251 (7,310)  
Net loss $ (110,635) $ (166,871)  
Net income (loss) per share – Basic (in Dollars per share) $ (0.01) $ (0.01)  
Net income (loss) per share – Diluted (in Dollars per share) $ (0.01) $ (0.01)  
Accumulated deficit $ (1,492,896) $ (986,126)  
Balance (1,492,896) (986,126)  
Accumulated deficit (1,603,531) (1,152,997)  
Balance (1,603,531) (1,152,997)  
Cash flows from operating activities:      
Net income (loss) (110,635) (166,871)  
Changes in operating assets and liabilities:      
Accrued expenses 110,635 $ 166,871  
Adjustment [Member] | Deferred Tax Assets, Net [Member]      
Restatement of Previously Issued Financial Statements [Abstract]      
Deferred tax liabilities, net $ (355,646)   $ (355,646)
v3.26.1
Stock-Based Compensation - Stock-based Compensation Expense for Stock Options (Details) - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Stock-Based Compensation [Abstract]    
Stock-based compensation expense $ 25,666 $ 27,285
Data and Product Costs [Member]    
Stock-Based Compensation [Abstract]    
Stock-based compensation expense 9,319 8,546
Selling, General and Administrative Expenses [Member]    
Stock-Based Compensation [Abstract]    
Stock-based compensation expense $ 16,347 $ 18,739
v3.26.1
Fair Value Measurements - Cash and Cash Equivalents and Marketable Securities Measured at Fair Value on Recurring Basis (Details) - Recurring [Member] - USD ($)
Mar. 31, 2026
Dec. 31, 2025
Fair Value Measurements [Abstract]    
Cash and cash equivalents $ 5,715,460 $ 6,248,223
Held-to-maturity securities 12,651,204 12,615,881
Fair Value 18,366,664 18,864,104
Level 1 [Member]    
Fair Value Measurements [Abstract]    
Cash and cash equivalents 5,715,460 6,248,223
Held-to-maturity securities 12,651,204 12,615,881
Fair Value 18,366,664 18,864,104
Level 2 [Member]    
Fair Value Measurements [Abstract]    
Cash and cash equivalents 0 0
Held-to-maturity securities 0 0
Fair Value 0 0
Level 3 [Member]    
Fair Value Measurements [Abstract]    
Cash and cash equivalents 0 0
Held-to-maturity securities 0 0
Fair Value $ 0 $ 0
v3.26.1
Marketable Securities (Details) - USD ($)
 3 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Marketable Securities [Abstract]    
Accrued bond interest receivable $ 96,197 $ 97,024
Other-than-temporary impairment loss $ 0  
v3.26.1
Marketable Securities - Cost and Fair Value of Marketable Securities (Details) - USD ($)
Mar. 31, 2026
Dec. 31, 2025
Marketable Securities [Abstract]    
Amortized Cost $ 12,651,204 $ 12,615,881
Gross Unrealized Gain 37,796 73,119
Fair Value $ 12,689,000 $ 12,689,000
v3.26.1
Marketable Securities - Maturities of Marketable Securities (Details) - USD ($)
Mar. 31, 2026
Dec. 31, 2025
Held-to-maturity securities:    
Due in one year or less $ 11,680,204 $ 10,618,881
Due in 12 – 24 months 971,000 1,997,000
Held-to-maturity securities $ 12,651,204 $ 12,615,881
v3.26.1
Net Loss per Share - Net Income per Share (Details) - shares
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Net Loss per Share [Abstract]    
Weighted average common shares outstanding – basic (in Shares) 10,767,501 10,722,401
Potential shares exercisable under stock option plans (in Shares) 0 0
Less: Shares which could be repurchased under treasury stock method (in Shares) 0 0
Weighted average common shares outstanding – diluted (in Shares) 10,767,501 10,722,401
v3.26.1
Segment Reporting (Details)
 3 Months Ended
Mar. 31, 2026
Segment
Segment Reporting [Abstract]  
Number of operating segments 1
Number of reportable segments 1
v3.26.1
Segment Reporting - Segment Financial Information of Reportable Segments (Details) - Single Reportable Segment [Member] - Operating Segment [Member] - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Segment Reporting [Abstract]    
Segment operating revenues $ 4,986,878 $ 4,871,412
Data and product costs    
Employee expenses 1,700,701 1,498,114
Data feed expenses 522,623 534,901
Hosting and computer services expenses 150,198 58,714
Other data and product costs 147,383 191,645
Data and product costs subtotal 2,520,905 2,283,374
Selling, general and administrative expenses    
Employee expenses 1,868,786 1,914,112
Professional fee expenses 331,945 103,106
Marketing expenses 168,954 208,791
Occupancy expenses [1] 10,183 110,344
Other general and administrative expenses 247,769 277,193
Selling, general and administrative expenses subtotal 2,627,637 2,613,546
Other significant segment items    
Depreciation and amortization 53,820 85,720
Other (income), net (140,674) (157,867)
Provision (benefit) for income taxes (22,487) 54,448
Net loss $ (52,323) $ (7,809)
[1] Prior to the expiration of the Company’s leased office space on July 31, 2025, occupancy expenses included rent, utilities, repairs, and office supplies. Post expiration, occupancy expenses included the rental of virtual office space for company meetings.