No, that's inaccurate again. The Exchange Act contains ongoing disclosure requirements which are meant to keep investors informed on a current basis. The requirements include an obligation to file Form 10-K, Form 10-Q, and current reports on Form 8-K with the SEC.
This also includes SEC Registrants which are smaller Reporting companies - this is the category in which TPAC resides. They state this on their filings:
Never attribute to malice that which can be adequately explained by stupidity, but don’t rule out malice. - Hanlon's Razor