Posted by: Kiddo April 28, 2010
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Googled it and found:
Securities law requires private companies that exceed a certain level
of stock distribution to file quarterly financial data with federal
regulators.
Here's a paragraph from the SEC website:
Corporate Reporting
Companies with more than $10 million in assets whose securities are
held by more than 500 owners must file annual and other periodic
reports. These reports are available to the public through the SEC's
EDGAR database.