I am very pleased to announce that today, iConsumer filed its first annual report with the SEC.  This report, which includes audited financial statements, is required under Regulation A of the Securities Act of 1933.

We have also created a page in our knowledge base where we are going to keep links to the SEC.gov site, specific to iConsumer.  Plus, links to the most important filings.

While creating an annual report is no small feat, we’re happy to do it.  It’s one of the best forms of transparency I can think of.  We want our 21,000 shareholders to understand and learn from their experience as shareholders.

Here’s some of the things that go into creating an SEC Form 1-K.  First, the auditors need to create their audited financial statements.  Then, the auditors need to approve their presentation in the annual report.  Our SEC counsel and staff are involved in the writing of the report.  There are certain subjects you’re supposed to cover, and certain subjects you’re smart to cover.

The company (that’s us) is required to actually put the entire document together, and write its view of the world.

Commas matter, so it is proofed many times by everybody involved.

It’s costly in ways that might surprise you.  The audit costs, the lawyers cost, and our staff’s time costs.  But did you know that it costs at least $8 per page to have a company translate the Microsoft Word document that we provide to them into the format required by the SEC?

Because we wanted prospective investors to have a chance to review the Form 1-K before investing, we’ve extended our offering’s closing date until April 30.  So, if you’re interested in investing, please check out our offering page.

If you have questions, please post them into the comments here.  Thanks to our shareholders for helping to change the faces of Wall Street.