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CreditRiskMonitor.com, Inc. filed an 8-K under Item 4.02 announcing non-reliance on previously issued financial…
CRMZCreditriskmonitor.com Inc
CreditRiskMonitor.com, Inc. filed an 8-K under Item 4.02 announcing non-reliance on previously issued financial statements for quarterly periods ended June 30, 2025, September 30, 2025 and 2024, March 31, 2026 and 2025, and fiscal years ended December 31, 2025 and 2024. The company identified economic and physical nexus in state and local jurisdictions where it had not previously collected sales tax or filed income taxes. Consequently, the audit committee concluded that prior financial statements should no longer be relied upon, and the company plans to restate these periods. Preliminary estimates indicate a sales tax liability of approximately $1,767 thousand (including interest) and an income tax liability of approximately $210 thousand (including interest). The filing also discloses a material weakness in internal control over financial reporting related to state and local tax nexus requirements, with management developing a remediation plan. CreditRiskMonitor.com, Inc. operates in the financial information services industry, providing credit risk data and analytics.