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Democratization of Financial and Business Reporting Data. 8th XBRL International Conference Seattle - November 4, 2003. Presented by: Susan Strausberg CEO & President – EDGAR Online, Inc susan@edgar-online.com. Today’s Agenda. 1. About the SEC EDGAR System. 2. About EDGAR Online.
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Democratization of Financial and Business Reporting Data 8th XBRL International Conference Seattle - November 4, 2003 Presented by: Susan Strausberg CEO & President – EDGAR Online, Inc susan@edgar-online.com
Today’s Agenda 1 About the SEC EDGAR System 2 About EDGAR Online Drivers for companies to provide financial information in an open standard 3 4 Future Trends 5 Conclusion
About the EDGAR System“Electronic Data Gathering, Analysis, and Retrieval” • Purpose: To facilitate the filing and review of mandated public company disclosures • 12 years from inception to completion • May 1996 ALL US public companies required to file the majority of their disclosures electronically • Public website provides access to EDGAR data • Sarbanes-Oxley Act of 2002 accelerates time frame and types of disclosures to be filed electronically
IPO’s S-1 SB Secondaries S-2 S-3 Annuals/Quarterlies 10-K, 10-Q, 8-K Def-14A Institutional + Mutual Fund Holdings 13-F, N30-D Insider Trades 144 3, 4, 5 Financial Information Life Cycle Periodic & Event Reporting (compliance) Ownership Capital Raising
The Scope • 12,000 public companies • 2,200 institutions • 8,000 mutual funds • 60,000 insiders • 2+ million documents • 10,000 new documents/day • 1,000,000 pages/day
Common SEC Filings * Contain financial reports and other extractable financial data
Today’s Agenda 1 About the SEC EDGAR System 2 About EDGAR Online Drivers for companies to provide financial information in an open standard 3 4 Future Trends 5 Conclusion
EDGAR Online Corporate Overview The trusted Internet source of timely and cost-effective business, financial and competitive information contained in SEC filings • Founded 1995, IPO in 1999 • NASDAQ: EDGR • Offices: • Headquarters: Norwalk, CT • Corporate Sales Office: New York, NY • Technology Center: Rockville, MD • Over 200 distribution channels and over one million registered users • Major Markets: financial services, accounting, legal, corporate • Revenue ’99 $2M $16M in 2002, Gross Margins > 80% • Founding Member XBRL Consortium
EDGAR Online • Subscriptions • Internet delivery • Real Time • Alerts • Displayed in ASCII • APIs • Displays in Excel, RTF, HTML • Professional services • Customized data • FDIC/XBRL
Again - The Scope • 12,000 public companies • 2,200 institutions • 8,000 mutual funds • 60,000 insiders • 2+ million documents • 10,000 new documents/day • 1,000,000 pages/day
Technology Enabled Content SEC Data Data Mining Technology Internet Delivery
EDGAR Online People Research tool that mines SEC filings and extracts proper names found within those documents. Useful in performing due diligence and prospecting.
Today’s Agenda 1 About the SEC EDGAR System 2 About EDGAR Online Drivers for companies to provide financial information in an open standard 3 4 Future Trends 5 Conclusion
Future Electronic Disclosures • Other Federal and State Regulatory Agencies: e.g. FDIC • Continued International Expansion : • SEDAR (Canada) • EDINET (Japan) • PRV (Sweden) • Enhanced Filings – Technology and Processes • Insider File Direct (Forms 4,5) • Multimedia • XBRL • Real Time Data Products • Analytical Software
Today’s Agenda 1 About the SEC EDGAR System 2 About EDGAR Online Drivers for companies to provide financial information in an open standard 3 4 Future Trends 5 Conclusion
Drivers for companies to provide financial information in an open standard : • Reducing the cost of and time to distribute information • Communicating with previously unidentified consumers of information • Supplementing traditional disclosure practices • Increasing the amount and type of data disclosed • Improving access to potential investors for small companies. • New regulations
Today’s Agenda 1 About the SEC EDGAR System 2 About EDGAR Online Drivers for companies to provide financial information in an open standard 3 4 Future Trends 5 Conclusion
Conclusion Susan Strausberg CEO & President – EDGAR Online, Inc (e) susan@edgar-online.com