Edgar Agents, LLC

XBRLAN OVERVIEW

An xbrl.us Member

WHAT IS XBRL?(EXTENSIBLE BUSINESS REPORTING LANGUAGE)

Specific Data Tags of Taxonomies applied to

financial information. Basically, “Bar-Coding” for

financial information. XBRL is a just a set of rules

for attaching identifying codes to items of for attaching identifying codes to items of

financial information.

XBRL promises to provide transparency, accuracy

and timeliness of company’s fundamental data.

What does this all mean?

This means instead of presenting financial information as a block of text as in a printed document, itprovides an identifying tag (definition) for each individual item of data within your primary financialstatements (Balance Sheet, Income Statement, Cash Flows, Shareholders Equity and accompanyingfootnotes). XBRL has the ability to “tag” or code each element on a financial or business report withinformation such as description, units, currency, etc., so that it is easy to identify and understand for users ofthe information.

Why is this important?

It is a SEC REQUIREMENT and a permanent part of the reporting process for public companies whichIt is a SEC REQUIREMENT and a permanent part of the reporting process for public companies whichallows investors, financial institutions, analysts, and regulators to name a few industries that rely onfinancial data to compare and analyze companies faster and more efficiently, seamlessly andinstantaneously, without needing to waste time poring through reports to locate information.

Overall XBRL saves a tremendous amount of time in analyzing and cleaning the data, it helps to buildbetter quality models for better investment decisions. XBRL also frees up analysts from number crunchingand lets them focus on studying companies, talking to executives and analyzing industry trends.

Advantage to Analysts Advantage to Filers

Efficiency and accuracy Distribution of information through the expansion

of their potential investor base.

PHASE-INThe SEC requirements will be a phased in approach to allow businesses to ease their

way into compliance over time:

YEAR 1 - Domestic and foreign companies that are large accelerated filers under Exchange Act Rule 12b-

2, use U.S. Generally Accepted Accounting Principles (U.S. GAAP) and have non-affiliate held

equity securities valued at more than $5 billion (about 500 companies). Requirements begin for

the first quarterly report on Form 10-Q or annual report on Form 20-F or 40-F, as applicable, that

contains financial statements for a period ending on or after June 15, 2009.contains financial statements for a period ending on or after June 15, 2009.

YEAR 2 - All other domestic and foreign companies that are large accelerated filers and use U.S. GAAP.

Requirements begin for the first quarterly report on Form 10-Q or annual report on Form 20-F or

40-F, as applicable, that contains financial statements for a period ending on or after June 15,

2010.

YEAR 3 - All other domestic and foreign companies that use U.S. GAAP and foreign companies that use

International Financial Reporting Standards as issued by the International Accounting Standards

Board (IFRS/IASB). Requirements begin for the first quarterly report on Form 10-Q or annual

report on Form 20-F or 40-F, as applicable, that contains financial statements for a period ending

on or after June 15, 2011.

Creation Process

Blue indicates Information and Information Flow;

Orange indicates Process and Process Flow

�

TIMING

• Start Early

– 8000 companies will need to file in the next few months and XBRL literally could take 3-5 months to finalize the initial template.

– We will tag your last set of financials and forward – We will tag your last set of financials and forward a excel spread sheet of all the items that were assigned definitions to the company for comments that the elements are correctly suited to that concept, this is what takes the bulk of the time.

Forms required to be tagged

• Quarterly, annual, & transition reports (Form

10, 10-Q, 10-K, 20-F, & 40-F)

• Forms 8-K or 6-K that contain revised or

updated financial statementsupdated financial statements

• Restatements

• Security Act registration statements (not IPOs)

(S-1, S-3, S-4, S-11, F-1, F-3, F-4, F-9, & F-10)

Levels of Tagging• Level 1 – Each complete footnote tagged as a single

block of text.

• Level 2 - Each significant accounting policy within the significant accounting policies footnote tagged as a single block of text.

• Level 3 – Each table within each footnote tagged as a • Level 3 – Each table within each footnote tagged as a separate block of text.

• Level 4 – Within each footnote, each amount (i.e. monetary value, percentage, and number) is required to be separately tagged. Narrative disclosures are not required to be broken out.

Level 1 is required in year 1*. Levels 1-4 are required year 2 and on.(*June, July, August year-end companies are subject to all 4 levels of tagging for the first time in the Form 10-K rather than 10-Q.)

Notes for XBRL

• MD&A, executive compensation, or other financial statistical or narrative disclosure outside of the financials do not have to be tagged in XBRL.

• Auditor involvement is not required for the accuracy of an XBRL document.

• Tagging activity and time consumption triples in the • Tagging activity and time consumption triples in the second year of filing.

• There is no requirement for the XBRL data to look like the official filing.

• XBRL data must be posted on a client’s website (if they have one) the day they file. A hyperlink to the SEC website is not acceptable. It is required to remain on the website for at least 12 months

SEC Previewer

“XBRL is about the Data, not the

Presentation.” - SEC

Ą10-Q Balance Sheet in

XBRL

This is a preliminary view of what your

XBRL filing could look like after filing

with the SEC.

Please note that the details for the

stock are mapped in the next slide in

the parenthetical.

Also, attached to this email, you will Also, attached to this email, you will

find an Excel file. This file will tell you

which taxonomies were used to map

the demo financials and the details

related to that mapping without any

communication and confirmation of

these codes with our XBRL specialists

to ensure an accurate and SEC

compliant submission. The Excel file

like this will be emailed to you for

review when we prepare a filing.

Balance Sheet

Parenthetical

The parenthetical shows the detail for

the common and preferred stock. It

will be seen as a separate table.

For more information, please contact

us at 732-780-5036

Or by email at lmusto@edgaragents.comOr by email at lmusto@edgaragents.com