Will No Longer Have To Report Financials Quarterly To SEC
Hawker Beechcraft has filed paperwork with the SEC that will allow it to keep its financial information private. An analyst not authorized to speak to the media told the Wichita Eagle that it will allow the company to keep its financial records private, which means competitors will not be able to learn about the company's finances. It also saves time and money for the company.
According to the SEC, the filing requirement can be foregone when there are fewer than 300 shareholders for the class of bonds offered, or If the company has fewer than 500 shareholders for the security and less than $10 million in total assets in each of the past three fiscal years.
Corporate Jet Investor reports that the move is commonly seen in organizations undergoing reorganization under Chapter 11. Rumors have been floating around for some time that HBC was preparing for bankruptcy, though so far that has not happened.