EDGAR Online, Inc. announced today that it is the first public company to simultaneously submit a Form 10-K for year ended December 31, 2007 and XBRL- tagged financial statements to the U.S. Securities and Exchange Commission (SEC) using the most recent taxonomies, or XBRL data tags, which were first released by SEC Chairman Cox in December. The 10-K filing and corresponding XBRL translation of EDGAR Online's 2007 financials were submitted and accepted by the SEC EDGAR system today.
The company utilized its I-Metrix platform to convert its financial statements to the latest XBRL standard and filed the documents with the EDGAR system through partner R.R. Donnelley & Sons Company , the leading provider for XBRL services in the U.S. filing market.
"As an organization that is keenly aware of the value that XBRL brings to the capital markets, we are excited to be able to show how quickly and easily a company's financial statements can be translated using our platform and the new taxonomies released by the SEC at the end of last year," said Philip Moyer, CEO of EDGAR Online. "Of course, our database of 10 years of XBRL tagged financials for over 12,000 public companies and XBRL filing solution with R.R. Donnelley can provide the same degree of speed and flexibility for all other SEC filers regardless of size."
Added Moyer, "XBRL isn't a future technology -- it is here, and we are proud to demonstrate that companies can reliably provide the transparency that the investing community seeks without spending hundreds of hours and tens of thousands of dollars deciphering a new technology standard."
