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XRBL reporting for small public companies

XRBL has been around for a long time but CFOs of smaller SEC filing companies have managed to avoid or idgnore it so far. Now our day is on hand, and with quarters ended June 30 and onwards, we will have to file our 10Q and 10Ks, not only in EDGAR format, but with all the finacial data coded in XRBL langauge.

We have been using a third party EDGAR translater/preparer, but they dont intend to get involved in XRBL because of the complexity, and they recommended I look for yet another third party to do the XRBL conversion coding.  This not only adds a whole new level of cost (in fact my best quote for the XRBL coding was greater than the entire price I have been paying my EDGAR converter), but creates an additional bottleneck and room for delay. It was suggested we should allow an additional week to handle the XRBL conversion, and unfortunately the SEC is not prepared to increase our filing time to allow for this extra challenge.

Admittedly, I have not yet been through the experience, and maybe my advisors are being over cautious, however, for smaller companies without the specialist staff, it sounds like we will be facing some new challenges in a month or two! Have any group members been through the conversion with any feedback for the rest of us?


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