I recently submitted our amended Regulation A+ Offering Statement by using the online filing system of theU.S. Securities and Exchange Commission (SEC) called EDGAR. This is unusual because I may be the only CEO who submits his own company's filings into EDGAR Other than being on a shoestring budget, here is the reason why.
First, EDGAR is an acronym that stands for "Electronic Data Gathering Analysis, and Retrieval system" which is the platform company must use for online filings.
It all started for me back in the mid 90's when I took up programming as a hobby to kill time in between my rugby related knee operations. I would hobble my way to the computer lab in college because I was fascinated by the possibilities of what could be done with computers. To me, the possibilities were endless; so much so, I felt like Harold from the book "Harold and the Purple Crayon" who entered a world drawn up by his own imagination. In comparison, the keyboard was the crayon and the screen was the paper. I eventually taught myself how to code and although it wasn't the career path I chose, it did help me build a state of the art website that launched the North American Football League in 1998 that led to what 360 Sports, Inc. is today.
Filing documents in EDGAR usually involves hiring a third party "EDGAR agent" who converts the documents, after you've completed them, into code such as HTML, XML or XMBL. The agent will validate the filing by using sophisticated software and then uploads the files into the EDGAR filing system. The problem with this is that the costs add up and can even be a barrier to becoming a public company despite the new streamlined Reg A+ rules of the JOBS Act.
While price shopping for an EDGAR agent I dove into the process to find a more efficient way. Once I learned that the skill needed for filing documents in EDGAR was coding, I was excited and immersed myself into the 3 part 800+ page EDGAR filing manual (provided for free by the SEC). I applied to the SEC to become an EDGAR agent and was approved in 2015, just in time for our first SEC filing. I didn't have the expensive conversion software so I did the coding myself and converted the documents manually. This sounds inefficient but in reality, it's an effective way to meet the EDGAR HTML standards, which are almost 20 years old, and brought me back to where I started - a gimpy college rugby player who had a passion to code.