1080224--3/23/2009--EDGAR_ONLINE

related topics

{product, market, service}

{customer, product, revenue}

{regulation, change, law}

{control, financial, internal}

{regulation, government, change}

{stock, price, operating}

{property, intellectual, protect}

{system, service, information}

{acquisition, growth, future}

{competitive, industry, competition}

{condition, economic, financial}

{personnel, key, retain}

{capital, credit, financial}

We have a history of losses and we expect to incur losses for the foreseeable future. If we are unable to achieve profitability, our business will suffer and our stock price is likely to decline. If we fail to increase revenues, we will not achieve or maintain profitability. Our current financing relationship could be terminated and we may not be able to obtain additional financing. Our business has been adversely affected by the global market crisis and economic recession. NASDAQ accounts for a significant portion of our total revenues but we expect this percentage to decline in the future. We expect to derive a significant portion of our total revenue from our partnership with R.R. Donnelley Sons Company. Some of our revenue is non-recurring. If we cannot replace these non-recurring revenue items every quarter, we may experience a decline in revenue. If we cannot generate new customers, we may not achieve profitability. The adoption of XBRL as a reporting standard occurred later than we had expected and the delay in the SEC mandate may give our competitors a greater opportunity to enter the market with limited barriers to entry. The adoption of XBRL may potentially commoditize large parts of our business. International Financial Reporting Standards (IFRS) may be adopted more quickly than we had expected which could increase our costs or devalue our filings solution. We rely on distribution agreements and any failure to obtain or maintain such distribution relationships on reasonable terms, or failure to achieve revenue targets, could impair our ability to fully execute our business plan. Some partnership or redistributor relationships could be terminated or underperform, leading to a significant decline in our revenue. The industry in which we operate is highly competitive and has low barriers to entry. Increased competition would make profitability even more difficult to achieve. Future enhancements to the SEC s EDGAR system may erode demand for our services and our revenues may suffer as a result. If we fail to develop and introduce new products and services, our sales and competitive position will suffer. Future acquisitions and business combinations that we consummate may be difficult to integrate, disrupt our business, dilute stockholder value or divert management attention. We depend on key personnel, the loss of whom could threaten our ability to operate our business successfully. We may encounter risks relating to security or other system disruptions and failures that could reduce the attractiveness of our sites and that could harm our business. If we fail to secure or protect our proprietary rights, competitors may be able to use our technologies, which could weaken our competitive position, reduce our revenue or increase our costs. We may incur substantial costs enforcing or acquiring intellectual property rights and defending against third-party claims as a result of litigation or other proceedings. Legal uncertainties and government regulation of the Internet could adversely affect our business. We may be subject to liability for taxes by federal, state and foreign tax authorities. We could face liability and other costs relating to our storage and use of personal information about our users. The price of our common stock has been volatile.

Full 10-K form ▸

1080224--3/23/2009--EDGAR_ONLINE_INC