Monday, September 25, 2006

SEC pumping $54 Million into XBRL based EDGAR

Although the SEC's chairmen Christopher COX has made many statement regarding XBRL and it's benefits, investing $54 Million into EDGAR to transform it into an XBRL based system goes a really long way to proving they are serious about it.

FOR IMMEDIATE RELEASE2006-158
Agency Invests $54 Million in Three Contracts Toward Transformation of EDGAR Database

Washington, D.C., Sept. 25, 2006 — U.S. Securities and Exchange Commission Chairman Christopher Cox announced today that the SEC has awarded three separate contracts totaling $54 million to transform the agency’s 1980s-vintage public company disclosure system from a form-based electronic filing cabinet to a dynamic real-time search tool with interactive capabilities.

Complete release can be found here.

Dominic Jones over at IR Daily does a good job of putting this into context.

Thursday, September 21, 2006

Salesforce.com moves closer to a true Web OS

Salesforce.com is the worlds most successful web-based customer relationship management (CRM) software. With over 25000 customers world wide Salesforce.com is leading the software as a service revolution. With this latest announcement Salesforce appears to be closing the gap on web based software and traditional software. The complete article can be found here.

Wednesday, September 06, 2006

Imax (IMX.TO) in the sights of BIll 198

Looks like Imax (IMX.TO) is currently the subject of an informal inquiry by the U.S. Securities and Exchange Commission over its revenue-accounting practices, yesterday became the target of a potential $200-million Canadian class-action lawsuit that could become the first test of Ontario's new Bill 198 law aimed at making it much easier for shareholders to sue companies and their executives.

Here is the article on Globe Investor.

Here at Q4 Web Systems we are watching this very closely. The reasons being our lead product called Q4 Record automatically records all of a company's disclosure on the web and can be used to help defend companies in the event of legal action such as this.