If your company is subject to the reporting requirements, it must file information with the SEC about:  

• its operations;  
• its officers, directors, and certain shareholders, including salary, various fringe benefits, and transactions between the company and management;  
• the financial condition of the business, including financial statements audited by an independent certified public accountant; and  
• its competitive position and material terms of contracts or lease agreements.  

All of this information becomes publicly available when you file your reports with the SEC. As is true with Securities Act filings, small business issuers may choose to use small business alternative forms and Regulation S-B for registration and reporting under the Exchange Act.  

Obligations because of Exchange Act registration 

Even if your company has not registered a securities offering, it must file an Exchange Act registration statement if:  

• it has more than $10 million total assets and a class of equity securities, like common stock, with 500 or more shareholders; or  
• it lists its securities on an exchange or on Nasdaq.  

If a class of your company's securities is registered under the Exchange Act, the company, as well as its shareholders and management, are subject to various reporting requirements, explained below.